Unit trust PEPs in demand
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sales of unit trust personal equity plans soared in the third quarter of this year to pounds 788m - nearly a third up on last year's comparable figure of pounds 612.3m, according to the Association of Unit Trust and Investment Funds.
PEP sales accounted for 70 per cent of the total amount invested in unit trusts in the third quarter of the year. Despite the buoyancy in the PEP market over the three months, unit trust sales in September were substantially down at pounds 287m against last year's pounds 414m.
A spokeswoman for the association said: 'The slowing in sales of unit trusts in September is not unexpected in the face of unexciting markets.' The FT all-share index fell by 6.8 per cent in September.
Institutional sales of unit trusts last month were pounds 184m, against last year's pounds 257m.
The most popular types of fund for investors over the month were those unit trusts invested in British companies. Another popular area for investment was the Far East, excluding Japan. Unit trusts that invested in Europe suffered the most redemptions.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments