ISA Season: Barclays expands range of 0% initial charge funds

This ISA season Barclays is offering an expanded range of 22 easy-to-manage funds available within an ISA, all provided with 0 % initial charge and no set up costs. Increased from 14 funds last year, the funds are available by phone for existing customers or through Barclays online platform, a secure online hub that enables investors to monitor the value and performance of their investments at a glance.

There are five ready-made portfolios, The Foundation funds, which are managed by Barclays Wealth and offer a blend of cash, bonds, shares and other investments such as property and commodities. All of which have a competitively priced annual management charge.

There is also an Investors' Choice range of funds which is more suited to the experienced investor, and offers a selection of 17 hand-picked funds from managers including Blackrock, Fidelity and JP Morgan. The funds were selected in conjunction with a UK-leading, independent fund-research agency. Both fund ranges are designed to be held for 5-10 years.

"Our fund range is designed with today's cost-conscious, do-it-yourself investors, who want to make their own investment decisions," said Paul McNamara, Managing Director of Barclays Investments and Insurance. "Because we don't have any initial charges or set up costs, 100 per cent of the money a customer invests will go into their account when they buy our funds. Investors can also access a range of guides and other educational material online to build their knowledge of investing.

"More of our customers are managing their financial affairs online and we are continuing to enhance this service for those who want to take control of their finances and help secure their financial future. Everyone should keep the 5th April firmly in mind - it's the last day of the 2011/12 tax year, and the last chance to use this year's ISA allowance."

Barclays online platform 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

Further information on the Foundation funds, Investors' Choice funds and Barclays Investments is also available from barclays.co.uk/investments.