New research has claimed that investors are turning away from cash individual savings accounts (ISA) in favour of investing in fund and share-dealing ISAs, fairinvestment.co.uk reports.
Interactive Investor, the online stockbroker, revealed that the number of investors who have put their money into cash ISAs has dropped from 49 per cent since the 2008-09 tax year to just 34 per cent this year.
Meanwhile, fund ISAs and share-dealing ISAs have experienced a significant rise in their popularity. In fact, this current tax year has seen 15 per cent rise in the overall take-up from investors.
Rebecca O'Keefe, head of investment at Interactive Investor, claims that low interest rates have led to investors seeking greater returns on their money.
"More investors than ever are looking to the flexibility that a self-select ISA offers, combined with the potential for better returns," she told the website.
Leeds Building Society recently unveiled a new five-year fixed-rate ISA paying 4.60 per cent tax-free .
Investors favouring fund and share-dealing ISAs
Financial Services > Saving Accounts > News
Investors favouring fund and share-dealing ISAs
Tue, 09 Mar 2010
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