ISA industry anticipates disappointing 2011 season

Disappointing retail sales for the beginning of the year have cast doubt over the success of the 2010/2011 ISA season.

Compared to net ISA sales of £177m in the same period last year, January 2011 recorded only £21m inflows, according to IMA statistics. Reported overall net retail sales for the same month slumped to £891m compared to £1.95bn last January, seemingly confirming a dip in investor sentiment. Despite this, providers and advisers seem confident about a last minute surge in ISA sales before the 5 April deadline. Julian Webb, head of platform sales and DC business at Fidelity, says people are looking to the markets for better opportunities, as returns on cash deposits remain at an all time lo...