Aviva group insurance and investments provider Norwich Union has added to its portfolio of ISA products with the introduction of its successful property unit trust as an investment option.
According to reports in the UK, the leading finance outfit will make its property unit trust available to ISA and PEP investors from March 6 of this year. The property fund has returned 15% since January 2005, MoneyMarketing reports.
Neil Davies, director of investment at Norwich Union, commented: Our property trust is a popular fund with customers who like the idea of investing in bricks and mortar. It has produced strong returns and this ISA launch will appeal to people who want to invest in commercial property through a tax-efficient wrapper.
Many already hold equities and bonds in ISA portfolios and being able to invest in a property ISA will help them to diversify their portfolios.