Individual Savings Accounts (ISAs) offer a tax efficient way to save money. The Wesleyan With Profits ISA is a Stocks & Shares ISA designed for investors who are willing to invest for a minimum of five years. It accepts new investments into Wesleyan's With Profits Fund.
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 and the With Profits ISA fund factsheet.
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. Further details on these charges can be found in the important information tab.
Wesleyan's With Profits Fund was once again rated top in its peer group of 5 funds for investment returns over a five year period in a report by Barnett Waddingham, a leading independent UK consultancy service.
Asset Risk Awards 2020, and also 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 1 to 5 scale, where 1 represents the lowest risk and 5 represents the highest. We rate the With Profits Fund as a risk category 3 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 a reduction to the value of your account 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 and is designed to ensure customers that disinvest at such times do not receive unfairly high valuations (as this would disadvantage remaining customers).
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 Wesleyan Financial Services 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.
Before you apply please read the next tab '2. Important Information'.