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CITY FORCES
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GOING FOR GROWTH
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Growth Street’s Greg Carter talks to P2PFN
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ISSUE 34 | JULY 2019
IFISA inflows set to hit £1bn milestone The Innovative Finance ISA (IFISA) looks set to become a billionpound product, exclusive data reveals. Figures provided to Peer2Peer Finance News from the Tax Incentivised Savings Association (Tisa) show the tax wrapper has been growing in popularity since a slow start in its first tax year of 2016/2017
and as of May had attracted £764m since April 2016. There were £52.7m of inflows reported at the start of the current tax year alone. The billion-pound boost will be welcome news at a time that the industry has faced negative press and regulatory scrutiny. The collapse of property
P2P platform Lendy has led some to question the safety of the sector, while the Financial Conduct Authority announced last month that it was pressing ahead with marketing restrictions and appropriateness tests, to be introduced from December. Tisa’s data is based on 90 per cent of the IFISA market and includes
figures reported on a monthly basis by big names such as Zopa, Assetz Capital and RateSetter. Funding Circle is not included in the statistics but industry sources are confident that its IFISA intake will bring the overall figure around the £1bn mark. The publicly-listed >> 4 business lending