Increase in use of Isa platforms

Platforms are increasingly being used for Isa investments, data from the Investment Association has found.

In February, £238m was withdrawn from these products, taking total inflows this tax year to £3.4bn, and the seventh month in a row fund management companies have witnessed ISA outflows. However, total Isa assets with fund groups still outweighed those on platforms, with £75bn held compared with £68bn.

Platforms allow investors to hold funds from different fund managers in one place, giving them more flexibility and the ability to monitor their investments.

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