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News Release - Wesleyan With Profits investors benefit from £28 million boost to fund

News Release - Wesleyan With Profits investors benefit from £28 million boost to fund

Investors in Wesleyan's With Profits Fund will receive a boost to their investment returns as the specialist financial services mutual is making an additional payment of £28m into its With Profits Open Fund in 2019.

The payment represents a 0.9% uplift to investment returns, which equates to an increase of £340 on a With Profits ISA with a fund value of £37,775¹.

This comes on top of Wesleyan's recent announcement that its With Profits Fund delivered a gross annual increase of 6.6% to payouts in 2018 ².

Wesleyan is one of the financially strongest organisations in the UK financial services industry and is committed to sharing the benefits of its strong capital position with its members.

Craig Errington said: "We want our members to share in the success of our business and we're pleased that we can give them a boost to their savings pots at a time when market volatility is creating poor returns in the investment markets.

"Our mutuality is an integral part of who we are and shapes our business. As we have no shareholders, we can take a long-term approach to running our business, which is one of the reasons that we've been able to maintain a market-leading capital position."

In addition to the £28m payment, Wesleyan has once more made a financial contribution towards member discounts on personal and commercial insurance products. In 2018 this amounted to £1.6m with over 14,000 members saving an average of £98 on their insurance premium.

Wesleyan offers specialist financial advice and services to doctors, dentists, lawyers and teachers.

The value of investments can go down as well as up.

¹The With Profits ISA is the leading product invested in the With Profits Open Fund and has an average investment of £37,775
² This represents the change in cash-in value based on growth in investment from 1 January to 31 December 2018 before charges.

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'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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