Investment platform Selftrade saw a significant increase in the number of women opening a stocks and shares ISA over the past few months, with numbers up 53 percent compared to the same period in 2016.
Men still opened more ISA accounts over the period, but the gap closed significantly. In 2016, 76 percent more men opened ISA accounts than women, but in 2017 this figure fell to 34 percent.
Mark Taylor, CEO of the Selftrade platform, commented: “It’s promising to see concrete evidence that more women are engaging with the world of investing. For so long we have seen women shy away from the stock market and stick to cash savings.
“While there is some way to go before we reach parity, this is a positive step forward. We meet a lot of women who feel investing is “not for them” – they often think it’s “male-dominated”, “complicated” and “unaffordable”.
“The message we are keen to get across is that investing is for everyone. Having a monthly direct debit into a stocks and shares ISA for as little as £50 a month is a great way to dip your toe in the water without throwing yourself in. We can only hope industry figures echo our own and that more women are engaging with investing”.
Across the board the platform saw a significant increase in ISA activity over the season, ahead of the new tax year. According to the company, the top traded stock this ISA season was Lloyds Banking Group, followed by BP and Vodafone, with the iShares Core FTSE 100 UCITS ETF GBP also making the top 10.
