Many consumers 'turning away' from cash investments
05/02/2010
Topic: Investments
Cash investments may have lost some of their popularity among UK investors, new figures suggest.
According to figures published this week by the Fair Investment Company, as many as 76% of those polled in a recent survey might now be looking at other forms of investment.
Cash investments only proved popular among 24% of those queried in the poll.
The organisation's Head of Pensions and Investments Nick Scarrett believes that low cash ISA rates may be one factor that has led to this trend.
He added: "With ... easy access savings accounts paying out just 0.76% on average (Moneyfacts), it is no wonder that most people looking to invest are steering away from cash."
The Fair Investment Company research follows the decision made this week by the Bank of England regarding the country's base interest rate.
It has been confirmed that the rate is to remain at a level of 0.5%.
Posted by Liam Tomlinson.
According to figures published this week by the Fair Investment Company, as many as 76% of those polled in a recent survey might now be looking at other forms of investment.
Cash investments only proved popular among 24% of those queried in the poll.
The organisation's Head of Pensions and Investments Nick Scarrett believes that low cash ISA rates may be one factor that has led to this trend.
He added: "With ... easy access savings accounts paying out just 0.76% on average (Moneyfacts), it is no wonder that most people looking to invest are steering away from cash."
The Fair Investment Company research follows the decision made this week by the Bank of England regarding the country's base interest rate.
It has been confirmed that the rate is to remain at a level of 0.5%.
Posted by Liam Tomlinson.
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