Norwich Union has announced that those with investments in individual savings accounts (ISAs) and personal equity plans (PEPs) will have the opportunity to also invest in a new property unit trust .

The financial services provider will launch its Norwich Property Trust ISA/Pep on Monday, March 6th.

Managed by Gerardine Davies of Morley Find Management, the investment is expected to appeal to those who want to invest in commercial property in a tax efficient way, comments Neil Davies, director of investment at Norwich Union.

Our property trust is a popular fund with customers who like the idea of investing in bricks and mortar, he adds.

Mr Davies highlights the investment fund's strong returns and the opportunity it presents to investors who want to diversify their portfolios.

He says investments in commercial property hold many benefits, like an attractive and steady income stream and the opportunity for capital to grow.

Norwich Union is a subsidiary of Aviva, which is the world's fifth-largest insurance group and the biggest in the UK.

It is one of the leading providers of life and pensions products in Europe, while also providing long-term savings, fund management and general insurance, including car insurance, motorcycle insurance and van insurance .