AUTIFAssociation of Unit Trusts and Investment Funds
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Clare Arber, head of communications at Autif, said, "We are quietly encouraged by the investment fund sales figures for November.
AUTIF said lack of market confidence had driven down sales of all kinds of investment funds to private investors during August.
"But money isn't on the curriculum and only 40 per cent of kids get financial advice at home," says Philip Warland, director general of AUTIF.
(57.)The ISC's members are the ABI, the AITC, the BMBA, the NAPF, and the AUTIF.
And AUTIF warned the figures for this month could again deteriorate: 'So far we are only in a position to relay anecdotal evidence from member companies for September business levels.'
'Falls in stock market values and an uncertain outlook have deterred many would-be investors in the final quarter of the tax-year,' said Clare Arber, public relations manager at AUTIF.
Total sales for the first quarter this year are likely to be closer to pounds 3 billion, AUTIF said.
Month-on-month ISA sales rose nearly eight per cent in January despite a continued high level of redemptions, which rose in 2000 by 41 per cent to pounds 39 billion, AUTIF said.
Even though socially responsible investing is growing fast, it still only makes up about one per cent of the overall retail market, according to figures from the Association of Unit Trusts and Investment Funds (AUTIF).
'The figures reveal that if investors want to focus their attention on more specialist investment areas, they are likely to find a suitably qualified independent adviser best equipped,' said Clare Arber of AUTIF .
AUTIF's Saving for Children fact sheet explains how, over the longer term, unit trusts and open-ended investment companies can help to build up a useful nest egg.
That was the message to be gleaned from the latest figures from the Association of Unit Trusts and Investment Funds (Autif) which keeps track of where investors are putting their money.