Barclays Stockbrokers is launching its first managed stocks and shares Isa and is waiving its management fee for anyone investing before the end of June.
It says the Isa is suitable for investors looking for stocks and shares but who do not have the time or expertise.
The Isa will select the stocks of a small number of companies considered to have good long-term growth prospects. Investment trusts may also be included for specialist areas such as UK smaller companies or overseas markets.
The portfolio will be made up from a range of sectors such as banks, oil and gas, pharmaceuticals, the leisure industry and food retailing.
The Isa has a dealing commission of 0.75 per cent and a management fee of 1 per cent. Online access to portfolio valuations is also available.
Director Justin Urquhart Stewart says: “This Isa could suit people who have perhaps had their fingers burned in the dotcom rollercoaster ride last year and are seeking a portfolio with less volatile investments.
“Investors are kept informed of all investment changes and are provided with the rationale behind every decision.
“This will enable them to monitor how their portfolio is being managed and perhaps gain the confidence to make their own investment decisions in the future.”