No. An Individual Savings Account (ISA) differs from a collective investment scheme, although it shares some similarities. You can put up to £20,000 per year in a Cash ISA, a Stocks & Shares ISA, or a combination of the two. You don’t pay tax on any gains you make and ISAs are not subject to dividend or income tax.
If you have a Stocks & Shares ISA, your ISA manager can invest your funds in certain types of collective investment scheme, but there is no obligation to do so.