InvestmentsSep 11 2014

NISA demand takes off

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Fidelity FundsNetwork saw a 97 per cent increase in the volume of New Isa accounts being opened in the month of July alone compared to July 2013.

According to Clare Baldwin, head of marketing, the surge in popularity came as a result of changes to the Isa regime earlier this year.

In an HMRC report released last week, the Revenue revealed that three million accounts had been opened between April 2013 and April 2014.

Ms. Baldwin said: “With cash Isa rates remaining relatively low and in many cases not exceeding inflation, investors are looking for growth in real terms as well as limiting their tax bills”.