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Stocks and shares Isas 'to become more popular'

By Sarah Engle, Tue 2 Mar 2010 - Published in Banking

Savers will start to return to stocks and shares Isas, an expert has predicted.

Claire Evans, unit trusts marketing director at Legal & General, claimed the end of the 2009/2010 tax year could see more people express an interest in the products.

She explained that last year the FTSE 100 rose by around 17 per cent and Isa allowances were increased, leading to more people, especially the over-50s, choosing to invest in the accounts.

"In 2009, retail investors invested around £2.5 million on average every day in our stocks and shares Isas. We are expecting to see sales significantly higher than this in the coming months," the director added.

Ms Evans also claimed stocks and shares Isas can provide better returns than many other forms of investment, even for those with a modest amount of cash, and suggested they are especially attractive when used over the long term.

Research from Halifax last month showed the number of Isas in the UK has increased by 53 per cent in the last ten years, with 37 per cent of households now using one.