Female investment into newly opened stocks and shares ISAs reached its highest level since the start of the pandemic during the fourth quarter of 2021.
New data from financial mutual Scottish Friendly said the value of new policies opened by women in the final three months of the year was up 23% on the same period of 2019 and 4% higher than in the fourth quarter of 2020.
In contrast, the value of new stocks and shares ISAs opened by men has remained flat, increasing by just 1.5% since the fourth quarter of 2019.
New policy sales figures for all customers during the fourth quarter of 2021 were up 13% on the final quarter of 2019, with the value of new policies increasing by 10% during the period.
Meanwhile, the value of new investment across all 18-64 age groups was higher in the final quarter of 2021 compared with the same period of 2019, with the sharpest rise across those aged 18-34.
The data also showed a rise in the amount parents are investing into JISA savings, with new policy values up 33% between the fourth quarter of 2019 and the final quarter of 2021.
Kevin Brown, savings specialist at Scottish Friendly, commented: “The dash of spare cash into ISAs that started during the pandemic seems to be continuing as our numbers show. Women in particular are putting more money aside and parents remain undeterred from saving for their children via JISAs which is always encouraging to see.
“However, there are new headwinds on the horizon that may see a slowing in these numbers in the near future.
“Many people will have been saving for a rainy day during the pandemic and that storm is now on the horizon. The sharp rise in the cost of living and growing economic uncertainty presents potentially a problematic picture in the short-term and people may need to rely on the buffers they have built to stay above the rising waters.”
