Stocks and shares ISA flows hit record high in 2015/16

Despite low investor confidence

Stocks and shares ISAs attracted record subscriptions during the 2015/16 financial year, despite low investor confidence levels, as cash rates remained at rock bottom.

According to the latest statistics from HMRC, ISAs attracted £80bn of subscriptions during the financial year, which was a £1bn rise on 2014/15. Of this total, a record £21.4bn went into stocks and shares plans; up from £17.9bn the previous year.  However, money going into cash ISAs dropped from £61bn to £58.8bn as rates reached record lows. Total assets held in ISA accounts have overshot the £500bn mark in the latest financial year, reaching £518bn, up 7% compared to the value at the end of 2014-15. The market value of cash holdings increased by 6% compared to the year before, ...