Barclays Stockbrokers - Strong uplift in Investment ISA sales

As cash interest rates remain at record lows, Barclays Stockbrokers, the UK's largest execution-only online stockbroker, has seen investors seeking greater returns potentially available, and accepting greater risk, from a wide variety of investment markets, and at the same time taking advantage of increased ISA limits. It reveals that 89% of investors who subscribed to the Barclays Stockbrokers Investment ISA in the 2009/10 tax year contributed their maximum allowance.

In addition, contributions to the Barclays Stockbrokers Investment ISA increased by 58% helped by the increase in the ISA allowance for those over 50, but also buoyed by an increase of 26% in the number of ISA subscribers.  Confident investors are wasting no time in taking advantage of their increased tax-free ISA allowances this new tax year, with a third of Investment ISA holders having indicated that they plan to invest a lump sum at the start of the new tax year, according to a recent survey by Barclays Stockbrokers. In the first two weeks of the tax year the number of subscribers already using their ISA allowance is up 54% over the same period last year, and the amounts subscribed is up over 130%.

Barbara-Ann King, Head of Investments at Barclays Stockbrokers, says: "While interest rates have continued to languish at record lows, investors are working harder and taking on more risk to generate returns on their savings.  Our clients have are increasingly taking control of their own destiny and are seeking returns across a wide variety of investment markets, as well as making full use of the increased ISA limits.  Furthermore, it is good to see that investors are taking full advantage of Investment ISAs early, as soon as the new tax year begins.  By investing at the start of the tax year, investors may benefit from an extra year of tax free growth, compared to someone investing at the last minute. 

"With a Barclays Stockbrokers Investment ISA, clients are in complete control of their investments and can choose from our extensive range of products, enabling them to structure a portfolio which meets their investment objectives and risk profile.  As well as stocks & shares and gilts & bonds, investors could consider Exchange Traded Funds (ETFs), funds, Structured Products, Exchange Traded Commodities (ETCs) and Real Estate Investment Trusts (REITs)."