easyMoney finds UK investors bullish on 2024

69 per cent of private investors are confident of receiving good returns in 2024, with ISAs cited as the most popular product.

Peer-to-peer property lending platform easyMoney commissioned a survey of 1,305 UK investors to gauge their outlook for this year.

Given their confidence in the market, few investors are planning to downsize their portfolios. Just 12 per cent of respondents said they have any intention of reducing their portfolio, while 61 per cent plan to keep it the same and 28 per cent plan to invest more this year.

Read more: Interest in IFISAs surges as new rules unveiled

ISAs were cited as the most commonly held assets, while 41 per cent of investors said they would consider investing more money into ISAs to grow their portfolio.

However, only 32 per cent of investors said they have maximised their tax-free ISA allowance ahead of the April deadline.

Cash ISAs prove the most popular, used by 63 per cent of investors, followed by stocks and shares ISAs (32 per cent). Lifetime ISAs and Innovative Finance ISAs (IFISAs) are less prevalent, used by just four per cent and one per cent of investors respectively.

“It’s great to see so many investors with a positive outlook for the year ahead, and the popularity of ISAs is no surprise given the benefits they come with, not least the personal tax-free allowance of £20,000,” said Jason Ferrando, chief executive of easyMoney.

Read more: The new IFISA rules explained

“However, it’s clear that many investors are yet to diversify their ISA portfolio, with the core products of cash and stocks and shares ISAs proving the most popular.

“This is somewhat surprising, given that the government recently announced new rules that will extend the remit of IFISAs, supercharging their potential for investors, not to mention the fact that such products already offer considerably higher returns.”