Investors eye up stocks and shares ISAs

The run up to the end of the 2009/2010 tax year is likely to show a marked return to stocks and shares ISA investment by individual savers, says Legal & General, one of the UK's largest stocks and shares ISA providers.

The roll out of the increase in ISA allowances across all ages from April 2010 is likely to boost interest in ISA investment in 2010. Legal & General's financial economists also believe interest rates will remain on hold throughout 2010, which will restrict the returns from cash savings.

In September 2009 Legal & General estimated around one million investors age 50 and over would top up under the new ISA rules creating additional sales of stocks and shares ISAs of £2.85 billion in the 2009/2010-tax year.