Investors take AIM within their ISA

Alliance Trust Savings customers are already embracing a change in regulation that is allowing them to invest in AIM shares within their Stocks and Shares ISA. Prior to the 5th August AIM was not treated as a recognised stock exchange by the 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 2 weeks of ISA eligibility (compared to the value of the previous two weeks' trades). Over 50% of all AIM share investment was carried out within an ISA or JISA account.
 
Customers had been contacting Alliance Trust Savings in advance of the change eager to trade at the first opportunity. Alliance Trust Savings ensured that all restrictions were removed from AIM stocks and the first trade was made shortly after the markets opened on the morning of the 5th August. AIM shares were eligible in other accounts prior to the 5th August.

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 5th 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."