£50bn pours into cash ISAs, but returns are at rock bottom

Charles Incledon, Client Director quoted in The Sunday Times, 13th June 2021

The amount held in cash ISAs by UK savers has reached a record high £313.5bn – an increase of 16% in just a year despite historically low interest rates, shows an analysis of new data by Bowmore Asset Management.

The amount saved in Stocks & Shares ISAs over the same period has dropped 3% from £314bn to £305bn, since then global stock markets have record highs.

“It’s staggering that so much wealth is being lost to inflation, through savers’ attachment to cash ISAs.”

Read more: https://bit.ly/3xluvV4

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