PIMA WELCOMES INCLUSION OF ALL FSA-AUTHORISED INVESTMENT VEHICLES
The PEP and ISA Managers Association (PIMA) welcomes the Chancellor’s Budget decision to include all FSA-authorised investment vehicles. This will allow investors to take advantage of a much wider range of funds for their tax-free savings.
For the first time, investors will be allowed to include non-UCITS investments within the ISA-wrapper. Under this regime, investors will for the first time be able to invest in schemes which include property thus giving access to a broader range of investments as long as access restrictions are not breached.
Additionally, under today’s announced changes, investors will still be allowed to utilise ‘funds of funds’ schemes in ISAs and CTFs. This further reduces exposure to a single asset class and or even a single collective investment scheme.
Tony Vine Lott, Director-General of PIMA, said:
[i]‘We warmly welcome Chancellor’s decision to widen the vehicles investors may include within their ISA-wrapper. We have long lobbied the Treasury and Inland Revenue to consider allowing investments across a broader range of asset classes. These are extremely important changes for investors, especially as more people continue to use ISAs for a wider range of purposes including long-term savings and retirement.’[/i]
[b]For comment on the Budget, please contact:[/b]
Tony Vine-Lott – Director-General,[b] PIMA[/b]
01372 374728
07790 006108
Iain Anderson / Jacob Coy -[b] Cicero Consulting[/b]
020 7665 9530
07785 507045