Parking space for Isa investors

FundsNetwork, Fidelity’s fund supermarket, is launching an Isa Cash Park, available from mid-March. Investors in FundsNetwork’s Isas will be able temporarily to hold their £7,000 Isa allowance – which will rise to £7,200 from April 6 – in the cash park without immediately having to invest it in equities or bonds. The money will be held by the Royal Bank of Scotland, which currently plans to pay gross annual interest of 4.85%. The minimum contribution is £1,000.