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AIM investment proves popular at Alliance Trust Savings

Alliance Trust Savings customers appear to be embracing a change in regulations that allows then to invest in AIM shares within their Stocks and Shares ISAs. Prior to the August 5 ruling, AIM was not treated as a recognised stock exchange by HM Revenue and Customs (HMRC) and therefore AIM stocks were not ISA eligible.

The removal of this barrier has led to a 150% increase in AIM trading on the Alliance Trust Savings platform within the first two weeks of ISA eligibility compared with the value of the previous two weeks’ trades. More than 50% of all AIM share investment was carried out within an ISA or JISA account.

Elaine Maddison, proposition and service director at Alliance Trust Savings, commented: “Our customers have always shown a great thirst for investment choice.

“As soon as it was announced that AIM shares would be ISA eligible, our customers were in contact asking when our platform would be able to facilitate this. We were delighted to execute the first AIM trade on the morning of the fifth of August and since then activity has increased throughout the week.

“We have over 700 AIM stocks on the platform that clients can trade in online.”

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