Spring Budget 2024: all UK-listed companies should be eligible for the UK ISA
The AIC has commented on the proposed introduction of a UK ISA.
The Association of Investment Companies (AIC) today commented on the proposed introduction of a UK ISA in the Spring Budget.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “We welcome the introduction of a UK ISA to encourage investment in the UK stock market. We’ve been calling for this as part of a broader initiative to reinvigorate the UK’s capital markets as well as promoting wider share ownership.
“All UK-listed shares, including investment companies, should be eligible for the UK ISA. We have more than 350 UK-listed investment companies, including more than a third of the FTSE 250. These companies provide access to diversified portfolios of equities, as well as hard-to-access assets like private companies, infrastructure and property.
“For any investor taking advantage of the new UK ISA, particularly those beginning their investment journey, investment companies can provide an excellent starting point. They have strong long-term performance, with the average investment company returning 158% over the last ten years. In addition, investment companies have boards of directors to look after shareholders’ interests and investors can attend AGMs, ask questions and vote, providing the ability to actively engage with their investments.”
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Notes to editors
- The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 336 members and the industry has total assets of approximately £267 billion.
- For more information about the AIC and investment trusts, visit the AIC’s website.
- Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance. The value of investment company shares, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all.
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