ISA millionaires are on the rise - here are the stocks and shares they invest in
Data released this week by Hargreaves Lansdown, the UK's biggest investment platform, revealed the number of people who are millionaires by the value of assets held in their stocks and shares ISAs is on the rise.
There are now 1,322 ISAs held in their system which total seven figures in value as of December, they said.
That's an increase of more than 14 per cent from just six months earlier, Yahoo Finance report, with the platform also releasing the names of the companies which are typically held by their ISA millionaires.
Most are blue-chip British companies and those which have a history of dividend payments, which - when compounded over the long term - can add up to impressive gains.
ISAs - individual savings accounts - are products which allow people to save or invest their money in a tax-free environment.
"Some people get into investment in the hope of getting rich quick, but the vast majority of ISA millionaires have built a fortune through the far more reliable approach of getting rich slow," said Kate Marshall, lead investment analyst at HL.
"They don't necessarily take enormous risks: many consistently invest as much as possible of their annual allowance, in a diverse and balanced portfolio, every year, for decades."
Individuals in the UK are allowed to put a maximum of £20,000 per year into their ISAs, spread as they wish across cash ISAs, stocks and shares ISAs, Lifetime ISAs and more.
The ten most popular shares in Hargreaves Lansdown (HL) ISA millionaire accounts were:
Legal and General
Phoenix Group
Aviva
IG Group Holdings
Beeks Financial Cloud Group
BP
Rio Tinto
M&G
Michelmersh Brick Holdings
Several of those are stalwarts of the London Stock Exchange, with insurers, energy companies and mining companies tending to pay out strong dividends - though the share prices themselves can be cyclical.
Over the long term, however, that tends not to be a major concern for investors, as the compounding gains made from reinvesting dividends back into the stock can - but does not always - more than make up for that.
As well as individual shares, HL noted that a wide mix of popular funds figured in most millionaire accounts.
These tended to focus on global companies, though a UK-based income fund also featured. Funds run by Legal & General made up half of the top funds invested in, data showed.
Of those, the Legal & General Global Technology Index Trust has fared best over the past year, returning 37.68 per cent.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leader Live
an hour ago
- Leader Live
Reeves to say spending review will reflect ‘priorities of working people'
The Chancellor is expected to focus on 'Britain's renewal' as she sets out her spending plans for the coming years, with big increases for the NHS, defence and schools. Arguing that the Government is 'renewing Britain', she will acknowledge that 'too many people in too many parts of the country are yet to feel it'. She will say: 'This Government's task – my task – and the purpose of this spending review is to change that, to ensure that renewal is felt in people's everyday lives, their jobs, their communities.' Among the main announcements is expected to be a £30 billion increase in NHS funding, a rise of around 2.8% in real terms, along with an extra £4.5 billion for schools and a rise in defence spending to 2.5% of GDP. But Wednesday could present a tough prospect for other government as the Chancellor seeks to balance Labour's commitments on spending with her fiscal rules. The Institute for Fiscal Studies has already warned that any increase in NHS funding above 2.5% is likely to mean real-terms cuts for other departments, or further tax rises to come in the budget this autumn. This could mean a budgetary squeeze for areas such as local government, the justice system and the Home Office, despite reports that policing would receive an above-inflation settlement. The Chancellor has already insisted that her fiscal rules remain in place, along with Labour's manifesto commitment not to increase income tax, national insurance or VAT. She will say on Wednesday: 'I have made my choices. In place of chaos, I choose stability. In place of decline, I choose investment. In place of retreat, I choose national renewal. 'These are my choices. These are this Government's choices. These are the British people's choices.' Other announcements expected on Wednesday include £39 billion for social and affordable housing over the next decade as the Government aims to meet its target of building 1.5 million new homes by the next election. The Treasury said this would see annual investment in affordable housing rise to £4 billion by 2029/30, almost double the average of £2.3 billion between 2021 and 2026. The additional spending has been welcomed by homelessness charities, with Crisis calling it 'a determined political signal that housing really matters' and Shelter describing the move as 'a watershed moment in tackling the housing emergency'. The Chancellor has also already announced some £15.6 billion of spending on public transport in England's city regions, and £16.7 billion for nuclear power projects, the bulk of which will fund the new Sizewell C plant in Suffolk. There is also expected to be an extension of the £3 bus fare cap until March 2027 and an extra £445 million for upgrading Welsh railways. But one of the big losers from the spending review could be London, which is not expected to receive funding for any significant infrastructure projects or powers to introduce a tourist levy – both key requests from Mayor Sir Sadiq Khan.
North Wales Chronicle
an hour ago
- North Wales Chronicle
Starmer and Reynolds meet US commerce secretary in push to implement trade deal
The Prime Minister dropped in on a meeting between Howard Lutnick and Business Secretary Jonathan Reynolds in Downing Street on Tuesday. Mr Lutnick was in London for talks with China on resolving the trade war between Washington and Beijing, and Mr Reynolds took the opportunity to meet him in person to push for the UK-US trade deal announced last month to be implemented as soon as possible. The meeting follows talks between the Business Secretary and US trade representative Jamieson Greer in Paris last week. Under the terms of the agreement announced by Sir Keir and Donald Trump, the US will implement import quotas that will effectively eliminate tariffs on British steel and cut the levy on vehicles to 10%. But the deal has yet to be implemented and tariffs on both steel and cars remain at 25%, although the UK has been spared the increase on steel duties to 50% that Mr Trump imposed on the rest of the world last week. In a post on social media, Mr Reynolds said he had discussed 'progress on our trade deal – including UK autos and steel' with Mr Lutnick. UK officials remain hopeful that the deal will be implemented soon, but Tuesday's meeting does not appear to have moved the issue beyond both sides agreeing the need to move quickly. Speaking in the Commons last week, Sir Keir said he was 'very confident' that tariffs would come down in line with the deal 'within a very short time'. Implementing the deal will require the UK to pass legislation, likely to involve regulations rather than a full Act of Parliament, while the US will also need to create a legal mechanism to bring steel and vehicle quotas into effect.
North Wales Chronicle
an hour ago
- North Wales Chronicle
Reeves to say spending review will reflect ‘priorities of working people'
The Chancellor is expected to focus on 'Britain's renewal' as she sets out her spending plans for the coming years, with big increases for the NHS, defence and schools. Arguing that the Government is 'renewing Britain', she will acknowledge that 'too many people in too many parts of the country are yet to feel it'. She will say: 'This Government's task – my task – and the purpose of this spending review is to change that, to ensure that renewal is felt in people's everyday lives, their jobs, their communities.' Among the main announcements is expected to be a £30 billion increase in NHS funding, a rise of around 2.8% in real terms, along with an extra £4.5 billion for schools and a rise in defence spending to 2.5% of GDP. But Wednesday could present a tough prospect for other government as the Chancellor seeks to balance Labour's commitments on spending with her fiscal rules. The Institute for Fiscal Studies has already warned that any increase in NHS funding above 2.5% is likely to mean real-terms cuts for other departments, or further tax rises to come in the budget this autumn. This could mean a budgetary squeeze for areas such as local government, the justice system and the Home Office, despite reports that policing would receive an above-inflation settlement. The Chancellor has already insisted that her fiscal rules remain in place, along with Labour's manifesto commitment not to increase income tax, national insurance or VAT. She will say on Wednesday: 'I have made my choices. In place of chaos, I choose stability. In place of decline, I choose investment. In place of retreat, I choose national renewal. 'These are my choices. These are this Government's choices. These are the British people's choices.' Other announcements expected on Wednesday include £39 billion for social and affordable housing over the next decade as the Government aims to meet its target of building 1.5 million new homes by the next election. The Treasury said this would see annual investment in affordable housing rise to £4 billion by 2029/30, almost double the average of £2.3 billion between 2021 and 2026. The additional spending has been welcomed by homelessness charities, with Crisis calling it 'a determined political signal that housing really matters' and Shelter describing the move as 'a watershed moment in tackling the housing emergency'. The Chancellor has also already announced some £15.6 billion of spending on public transport in England's city regions, and £16.7 billion for nuclear power projects, the bulk of which will fund the new Sizewell C plant in Suffolk. There is also expected to be an extension of the £3 bus fare cap until March 2027 and an extra £445 million for upgrading Welsh railways. But one of the big losers from the spending review could be London, which is not expected to receive funding for any significant infrastructure projects or powers to introduce a tourist levy – both key requests from Mayor Sir Sadiq Khan.
