Isa savers 'trigger ethical investing'
23/02/2007
The tax-break deadline for individual savings account (Isa) customers is likely to prompt a rise in the number of ethical investments, claims new research.
More than two-thirds (67 per cent) of Britons looking to make use of their Isa allowance before the April cut-off point will consider investing their savings in a fund with ethical benefits, according to a poll from a bank.
Co-operative Financial Services (CFS) also predicts an increase in the one per cent proportion of assets which are currently managed in socially responsible investment schemes as Isa savers look to place money in new funds.
"As green Isas allow investors to satisfy their hearts as well as their heads, we expect the deadline rush to be the start of a significant rise in the amount of money placed in ethical funds," comments Zack Hocking, head of savings and investments at the firm.
The spokesman adds that any savers yet to make use of their Isa allowance should ensure they do so before the deadline, after which tax relief is no longer eligible on investments.
Meanwhile, a recent study from Intelligent Finance found that the number of Isa savers switching to schemes which offer a better rate has risen to seven per cent in three years.
More than two-thirds (67 per cent) of Britons looking to make use of their Isa allowance before the April cut-off point will consider investing their savings in a fund with ethical benefits, according to a poll from a bank.
Co-operative Financial Services (CFS) also predicts an increase in the one per cent proportion of assets which are currently managed in socially responsible investment schemes as Isa savers look to place money in new funds.
"As green Isas allow investors to satisfy their hearts as well as their heads, we expect the deadline rush to be the start of a significant rise in the amount of money placed in ethical funds," comments Zack Hocking, head of savings and investments at the firm.
The spokesman adds that any savers yet to make use of their Isa allowance should ensure they do so before the deadline, after which tax relief is no longer eligible on investments.
Meanwhile, a recent study from Intelligent Finance found that the number of Isa savers switching to schemes which offer a better rate has risen to seven per cent in three years.
