Barclays Launches 0% Initial Charge Investment ISA

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Barclays today launches an investment “Foundation ISA” available online at a zero percent initial charge with no lock-in period or exit penalties and low annual management charges.

It's time to throw out the myth that a

Barclays today launches an investment “Foundation ISA” available online at a zero percent initial charge with no lock-in period or exit penalties and low annual management charges.

  •     Foundation ISA offers tax-efficient returns from choice of five globally diversified, multi-asset funds available through Barclays Investments Online platform.
  •     Customers can buy, research and value investments, including the Foundation ISA, 24/7 online.

Customers wanting to invest their tax-free allowance this year can choose from five different globally diversified, multi-asset funds within their ISA tax-free wrapper using the Barclays Investments Online platform. Designed to make investing simpler, the funds offer a blend of cash, bonds, shares and other investments such as property and commodities to suit different risk appetites.

Investors can choose from a range of funds, starting with those offering lower equity exposures and a higher proportion of fixed income securities for the more cautious. People willing to take on more risk for potentially higher rewards can choose funds with greater exposure to equities, commercial property and commodities.

There is also an Investors’ Choice ISA which is more suited to the experienced investor, and offers a selection of 14 hand-picked funds from some of the world's leading fund managers. Both ISAs are designed to be held for 5-10 years.

Carl Howard, Head of Direct Investments, Barclays Bank said: “It’s time to throw out the myth that a “stocks and shares” ISA is only for the privileged few. With the potential for high returns, investment ISAs can be a tax-efficient way to diversify your savings as long as you are absolutely clear about the risks involved. Our ISAs cater for different risk appetites and offer something to suit the needs of most investors.”

The Foundation and Investors Choice ISAs are available through the enhanced Barclays Investments Online platform where savers can invest tax-efficiently and keep track of their investments 24 hours a day, seven days a week. Aimed at the increasingly confident ‘Do-It-Yourself’ investor, the Barclays platform is a simple, jargon-free educational-based website which provides guidance and tools to help customers make informed investment decisions.

Carl Howard added: “In addition to the two ISAs, we have made our online investment platform better. It makes investing simpler and more straightforward for the growing number of people who want to be in charge of how and where they invest. Now customers have access any time of the day or night to the tools and information they need to take control of their finances.”

Barclays Investments Online features:

  •     Simple tools, videos and guidance to help customers learn more about investment products and how to reach their goals
  •     An online section to help you understand your attitude to risk
  •     A simple, online product selector, to help customers find the investment which meets their needs
  •     An online modelling tool to show how different investments might perform
  •     The ability to buy, research and value investments online 24/7.

Barclays Investments Online has 19 high quality funds from a range of asset management houses allowing users to create an online portfolio to buy, sell and track investments anytime. To find out more, please visit http://www.barclays.co.uk/investments.

Further information on the Foundation ISA, Investors’ Choice ISA and Barclays Investments Online is also available from branches across the UK and by telephone on 0800 445 443.

Last week, Barclays launched a competitive, market leading cash ISA paying 3.25 per cent AER/ 3.20 per cent tax free per annum variable to enable customers make the most of their tax-free cash ISA allowance. More information on the Cash ISA can be found here.

Notes to Editors
Applicable to all investment ISAs available via Barclays Investments:

  •     Minimum investment £3,000
  •     Current tax year and transfers in accepted
  •     No lock in period or exit penalties
  •     Both ISAs are intended to be held for 5-10 years, and exiting earlier increases the risk that customers could lose money.
  •     £50 John Lewis voucher for all investors who invest a minimum of £5,000.

Foundation ISA
A stocks and shares ISA that allows customers to select the fund that best matches their level of risk. It is aimed at investors who are confident with making their own investment decisions and want to invest their ISA allowance in a simple investment based ISA with a selection of five funds.

Investors’ Choice ISA
Aimed at the more sophisticated, experienced investors, consumers can choose from a range of 14 hand-picked funds from some of the world's leading fund managers. Funds are provided by Fidelity, M&G, Schroder, JP Morgan, Jupiter, BlackRock, Invesco and Standard Life.

About Barclays Investments Online
Customers buying investment funds online will not be asked to pay the usual initial charge of 1 per cent however other charges may apply to individual investment funds. Minimum initial investment is £3000 and £500 thereafter for top ups.

Barclays conducted in-depth consumer research into attitudes to investing last year and identified a growing trend among 25-44 year olds with annual income below £50,000 wanting to make their own investment decisions. The findings revealed that 73 per cent found the idea of buying investment products themselves appealing, with only six per cent saying that they would not consider this avenue.

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Emma Austin
Barclays
+44 (0)20 7116 6145
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