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March 5, 2008

Barclays reports 26% rise in Isa take-up

by Gill Montia

Story link: Barclays reports 26% rise in Isa take-up

Barclays has reported a 26% increase in the number of individual savings accounts (Isas) opened in January and February of this year, compared with the same period in 2007.

The bank is interpreting the rise as evidence that investors remain confident in the medium and long-term performance of Isas, despite the recent turmoil on the global markets.

Barclays Stockbrokers is advising would-be Isa investors that they should use their full Isa allowance each year, in order to benefit from tax-free savings and investments.

It also recommends a thorough investigation of the charges and fees applied by providers, and is promoting the advantages of transferring from cash to equities.

Last week, Barclays launched a new Isa, aimed specifically at investors who are interested in accessing a large number of asset classes with differing risk levels.

Amy Nauiokas, managing director and head of Barclays Stockbrokers, says: “We are delighted to see investors actively taking their tax allowance in 2008 despite the recent volatility.”

 

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