With one in ten ISA investors expected to deposit a lump sum at the last minute, it’s essential you know when your investment ISA provider’s deadline is.
The official deadline for this year is April 5, but some providers are closing their doors to new applications a full week earlier.
According to Association of Investment Companies (AIC), this is because there are different systems in place amongst investment companies and their managers to accommodate the ‘cooling off' period.
To make sure you don’t miss your provider’s deadline, below is a list of the specific dates for online, telephonic and post ISA applications.
| Provider |
Post/Phone deadline |
Online deadline |
| F&C Investments |
3 April |
5 April |
| Fidelity International |
4 April |
5 April |
| Alliance Trust Savings |
3 April |
5 April |
| Baillie Gifford |
N/A |
3 April |
| Barclays Stockbrokers |
5 April |
5 April |
| BNP Paribas |
2 April |
3 April |
| Caledonia Investments |
4 April |
N/A |
| Gartmore Investment Limited |
3 April |
N/A |
| JPMorgan Asset Management |
3 April |
N/A |
| RIT Capital Partners |
30 March |
N/A |
| The Scottish Investment Trust |
3 April |
3 April |
| TD Waterhouse |
5 April |
5 April |
| Witan Investment Trust |
30 March |
5 April |
| Aberdeen Asset Management |
N/A |
3 April |
Source:AIC
Brave investors will reap rewards
AIC communications director Annabel Brodie-Smith says investors should not be put off by the current market volatility, adding that “brave equity investors” have in the past been rewarded over the long-term.
“In volatile markets, the closed ended structure of investment companies is particularly important and allows managers to take a long term view to investments as they do not have to sell their existing stock in order to meet redemptions,” says Brodie-Smith.
“As managers start to see opportunities opening in the market they also have the facility to "gear" (borrow money) which will allow them to make the most of opportunities when they arise."
Growing popularity of stocks over cash
Research from investment company Investment Quorom shows that people are increasingly turning to the stock market as savings rates continue to plummet.
“While fewer people are opting for ISAs, a growing number are planning to enter the stock markets over the coming months as share prices are low and low interest rates on savings are less attractive,” says Investment Quorom CEO Lee Robertson.
“With savings returns on the floor, many people feel that they might just as well keep their money on the floor, under the bed.
“But there are returns to be had and for those considering a return to or in many cases entering the stock markets for the first time, now could be the perfect time to start to see their money grow again.”
Investment Quorum’s five point investment checklist:
1. Easy does it, you may wish to drip feed your investment into the markets from cash – don’t put all your eggs in one basket.
2. Look to build a balanced portfolio with the help of a good wealth manager.
3. Fixed interest bonds, corporate bonds and gilts should make up a good proportion of your investment amount.
4. Don’t place all your funds with one fund manager. Use a wealth manager to assist you in spreading the risk.
5. Use you full allowance each year, you cannot carry them over.
