James Hay sees 158 per cent increase in ESIPP business

James Hay, the UK's largest Self Invested Personal Pensions (SIPP) provider, today reports a significant increase (158 per cent) in the number of James Hay eSIPPs sold in the first half of 2008, when compared to the first half of 2007. Assets-under-management within James Hay's eSIPP portfolio has increased 97 per cent under the same period.

Andy Pennie, Marketing Director at James Hay commented: "This success has been driven by launching innovative products specifically tailored for current market conditions.

"Our Special Deposit Account paying 6.90 per cent - the first account to offer SIPP investors the kind of cash rates they could get on the high street -has proved popular with customers wishing to switching to cash to escape market volatility.

"Equally we have seen high demand for our Selected Banking Plan - an innovative capital protected product investing in four leading banks at a time when investors are uncertain about the prospects for banks shares."

"James Hay remains committed to investing in innovative solutions for SIPP investors in the current market place."

James Hay SIPP is backed by Santander, one of the largest banks in the world, which was recently awarded Best Global Bank in the Euromoney awards. James Hay has won 22 awards for its SIPP product and service in the last six years.