Remember the value of investments can go down as well as up and you may get back less than you invest.
Individual Savings Accounts (ISAs) are a tax efficient way to save money. The Wesleyan With Profits ISA is a Stocks & Shares ISA which accepts new investments into Wesleyan's With Profits Fund with the tax advantages of an ISA.
The With Profits Fund aims to provide capital growth over a medium to long term period by investing in UK and International shares, fixed interest stocks, property, cash and other related investments. The fund aims to avoid sharp rises and falls by 'smoothing' the return on your investments over the period of the plan. For more information, please read the 'How our With Profits Fund works' booklet.
This product is designed for investors who are willing to invest for a minimum of five years with the potential for long term capital growth and income, who are also prepared to accept that when the investment is cashed in, the value might be less than has been paid in.
Initial and annual management charges will be applied. The initial charge is 3% of each subscription you make and each transfer in from another ISA manager. For further details on these charges can be found in the important information tab.
The With Profits fund, which the Wesleyan With Profits ISA is invested into, has been rated 3rd over one year in our peer group of seven funds and 1st over five years in our peer group covering five funds for overall fund performance† and Wesleyan won Investment Strategy of the Year at the Insurance Asset Management Awards 2018.
Risk and Potential Reward
At Wesleyan, we classify investment risk and reward using a one to five scale, where one represents the lowest risk and five represents the highest. We rate the With Profits Fund as a risk category three which is moderate risk /reward. This means it may be suitable for investors looking for long term capital growth and who accept the moderate level of risk that accompanies this.
We may apply an adjustment which reduces how much you get back from your investments if you withdraw money at certain times (for example, when share prices are low), which means you could get back less than you invested. This adjustment is called a Market Value Reduction.
This is a medium to long term investment so you should be prepared to invest your money for at least five years. For more information please refer to the With Profits ISA fund factsheet.
ISA & Tax
You will have no personal Income Tax or Capital Gains tax to pay on income or growth within the With Profits Fund.
If your spouse or civil partner died on or after 3 December 2014 you may be entitled to additional ISA allowance, up to the value of your spouse or civil partner's ISA savings at the time of their death. If this affects you, please contact your Financial Consultant.
This information is based on our current understanding of legislation. Legislation and tax treatment can change in the future.
For more information visit the HMRC website.
†The With Profits fund, for overall fund performance, ranked 21st overall over a one year and 3rd in our peer group of 7 funds. The fund ranked 2nd overall over five years and 1st in our peer group of 5 funds. This is compared to 40 other funds across 23 insurers, in an independent survey by Barnett Waddingham, the UK's largest provider of actuarial, administration and consultancy services. (September 2019)
¹This represents the change in cash-in value based on growth in investment from 1 January to 31 December 2018
Before you apply please read the next tab '2. Important Information'.