Hargreaves Lansdown (HL) unveiled where ISA investors ploughed their money in the first week of the new financial year.
Buying early is a feature of its most successful ISA investors, says the wealth platform, so where the money is going now should be instructive.
An overwhelming 31% of Interactive Investor’s ISA millionaires, on average, maxed out the full £20,000 annual allowance between 6 April and the end of the month (early bird investors), compared with 6% for all others.
Early bird ISA investors would be approximately £37,632 better-off over 22 years compared with last-minute investors, added HL.
“The early bird ISA investor catches the best returns over the long term – not because of timing the market but time in the market,” Myron Jobson, Interactive Investor senior personal finance analyst, commented.
Meanwhile, the most popular stock buys for the week ended Wednesday included banks, financial service providers, carmakers and greener companies.
“Talk about hedging your bets – early bird ISA investors are covering all bases with the best buys of the new tax year,” Emma Wall, HL head of investment analysis and research, said.
Top Shares
Aviva PLC (LSE:AV.)
Barclays PLC (LSE:BARC)
International Consolidated Airlines Group (LSE:IAG) SA
Legal & General Group PLC (LSE:LGEN)
Lloyds Banking Group PLC (LSE:LLOY)
Persimmon PLC (LSE:PSN)
Petropavlovsk PLC (LSE:POG)
Polymetal International PLC (LSE:POLY)
Rolls Royce Holdings PLC
Tesla Inc (NASDAQ:TSLA)
Insurance firm Aviva PLC (LSE:AV.) led the list of most bought shares, with British Airways owner International Consolidated Airlines Group (LSE:IAG) SA and financial services and asset manager Legal and General Group PLC ranking third and fourth respectively.
Sophie Lund-Yates, HL lead equity researcher, said: “Among the most popular stocks is UK banking giant, Barclays.
“The group’s share price has been rocked in recent months following the discovery it mishandled the selling of US Securities in 2019.
“Fellow bank, Lloyds, makes the list too, as investors look to capitalise on a rising interest rate environment.
“Lloyds relies on traditional banking far more than others, meaning as rates rise, so too does a big portion of its income stream.
Tesla Inc (NASDAQ:TSLA) just about made the list – a day before its owner and world’s richest man, Elon Musk, offered to buy Twitter Inc (NYSE:TWTR) for US$43bn (read more).
“A renewed enthusiasm for EVs may well be coming from skyrocketing fuel prices, while recent news of Tesla’s impressive production figures won’t have harmed sentiment either,” Lund-Yates added.
Meanwhile, here’s a look at the top 10 investment trusts (not in any order):
Top Investment Trusts
BlackRock World Mining Trust PLC Ordinary 5p
Capital Gearing Trust PLC (LSE:CGT) Ordinary 25p Shares
City Of London Investment Trust Ordinary 25p Shares
Greencoat UK Wind PLC (LSE:UKW) Ordinary 1p
NextEnergy Solar Fund Ltd (LSE:NESF) Ordinary NPV
Personal Assets Trust (LSE:PNL) PLC £12.50 Ordinary Shares
Polar Capital Technology Trust PLC (LSE:PCT) Ordinary 25p
Ruffer Investment Co Ltd Red Ptg Preference Shares
Scottish Mortgage Investment Trust PLC (LSE:SMT) Ordinary Shares 5p
Worldwide Healthcare Trust PLC (AIM:WWH) Ordinary 25p