Investors are increasing equity ISA commitments
According to research by Rensburg Sheppards (www.rensburgsheppards.co.uk), the investment manager, 3.6 million investors have so far invested in a stocks and shares ISA this tax year but 1.2 million investors, that is an additional 25%, are still planning to do so before the April 5th tax deadline.
The research shows that stocks and shares ISA investors will on average shelter £4,951 with 22% of respondents intending to shelter between £9,000 and the maximum of £10,200 for this tax year. People in London plan to invest the most (£6,241) while those in Wales the least (£2,350).
Over four in ten (42%) investors have decided to increase the size of their stocks and shares ISA this tax year compared to last, while only 18% will be reducing their allocation. Younger investors aged between 18 and 34 are the most likely of any age group to boost the size of their equity ISA this tax year with 56% intending to do so compared to 19% who are putting aside less.
Rensburg Sheppard’s research reveals that the average amount earmarked for cash ISAs is £3,074, with nearly four in ten (42%) investors intending to invest up to the maximum threshold of £5,100.
The findings suggests that while a third (33%) of investors are looking to increase their cash ISA exposure this tax year, 19% are looking to reduce their allocation, suggesting a much lower net uplift than stocks and shares ISAs investors.
Source: Investec
