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The provider is offering access to more than 40 fund managers, including Fidelity, Invesco, Jupiter and New Star, as well as thousands of unit trusts and OEICs.

The Funds Sipp is designed for investing in funds through a Selftrade Sipp Dealing Account, which provides online and telephone dealing.

However, all administrative costs are covered by a fixed commission, removing all up front charges.

EPM managing director Francis Moore said: "This is a good introduction to Sipps for people who are put off by paying charges but could get them moving on to other Sipps, where there are charges, but which can be invested in a greater range of things."

Access to over 200 funds is provided with a 0 per cent initial charge, while a further 800 funds charge less than 0.5 per cent.

Moore added: "There is no annual charge or setup charges attached to this Sipp, and along with Selftrade's £12.50 flat rate commission per trade and no nominee costs it makes trading simple and affordable."