The number of people investing regularly in Individual Savings Accounts (Isas) hit a new high in November, according to the latest data from investment platform Hargreaves Lansdown.
A grand total of 74,010 individuals were regularly putting money into stocks and shares Isas with Hargreaves Lansdown as of November, up 24 per cent from a year previously.
The average sum being invested per month was also up, from £304 at the beginning of 2017 to £312 in November, and the platform expects more people to plough their pounds into Isas this January.
“Each January, gym car parks are at capacity and it’s standing room only at the slimming clubs. Investors aren’t immune to the idea of a new start for the new year either, so every year we see a phenomenon called the 'January Jump'," said Hargreaves Landown's Sarah Coles.
"However, unlike their gym-joining dieting counterparts, investors know how to make their resolutions stick, because January also sees a higher proportion of people committing to regular investments.”
|The 10 most popular funds for regular Isa investments on Hargreaves Lansdown (in alphabetical order):|
|Invesco Perpetual High Income|
|Lindsell Train Global Equity|
|Lindsell Train UK Equity|
|Marlborough UK Micro Cap Growth|
|Standard Life Investments Global Smaller Companies|
|Stewart Investors Asia Pacific Leaders|
|Woodford Equity Income|
|Woodford Income Focus|
The increase in Isa investments follows a number of developments in the sphere over recent years.
A number of firms have now started offering Innovative Finance Isas, which focus on peer-to-peer lending, while the Lifetime Isa was launched this year which sees the government contribute a portion of people's savings.