Barclays Stockbrokers have seen a sharp increase in the amount of investors taking up their investment ISA products since the new tax year began.
Figures from Barclays stockbrokers show that subscriptions to their investment ISA products has increased by 58 per cent and the number of people using their entire annual ISA allowance is up by 26 per cent compared to the same time last year.
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. ”
The figures also show that 89 per cent of investors who subscribed to the Barclays Stockbrokers Investment ISA in the last tax year used their maximum ISA allowance, which is now £10,200 following an increase from £7,600.
Click here to compare investment ISA deals »
© Fair Investment Company Ltd