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03/04

New ISA limit available to regular savers from next week

The changes announced to ISAs in this year’s Budget mean that from 1st July 2014 people can invest up to £15,000 per annum in an ISA split as they choose between stocks & shares and cash. According to investment business, Skandia, whilst the new ISA regulations do not come in until 1st July, regular savers can take advantage of the increased limits next week by increasing their monthly contributions to £1,250 from Monday 7th April.

Under the new rules investors will now be able to switch back and forth between cash and stocks & shares, rather than having to disinvest from a stocks & shares ISA if they want to transfer to cash.

Mike Barrett, platform manager at Skandia comments:Mike Barrett

“Those choosing to divide their annual ISA contribution by 12 and invest monthly can start to take advantage of the new rate from next week, increasing their monthly contributions to £1,250 from Monday 7th April.

“The changing structure is not only great for seasoned ISA investors, but also for those who may have previously been hesitant to invest in the stock market as it allows them ‘dip their toe in the water’ within a single product.

“As well as offering a wide range of funds, we will be looking to enhance our cash option by 1st July to offer the most competitive interest rate we can secure.”

For more information contact

Amelie ShepherdOld Mutual Wealth02380 916 09107834 499 596
Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076

Notes to Editors:

Old Mutual Wealth

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK & Italy* and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £119 billion in customer investments (as at 30 September 2016).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £342.7 billion assets under management (as at 30 June 2016).

*Old Mutual Wealth announced the sale of Old Mutual Wealth Italy to Ergo Italia on 9 August 2016. The transaction is pending completion.

This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.