Mutuality means more
With no shareholders to pay, we can share our financial success with you. We can't guarantee a bonus every year, but we paid a 1% mutual bonus to ISA holders in 2020 and 2022.
Keep in mind that the value of your investment can go down as well as up, so you could get back less than you invested.
Why invest your ISA allowance with Wesleyan?
Use the calculator below to see how your contributions could grow in a range of market conditions…
The calculation assumes no initial or ongoing advice charge, but includes an annual management charge of 1.2% (charges may vary) and transaction costs of 0.05%. It assumes no change to contributions over the period of your investment.
To try and deliver steady returns, Wesleyan's With Profits Fund applies a mechanism called ‘smoothing’.
This means holding back some returns when market performance is strong, to support your returns when the market experiences losses. It helps reduce sharp day-to-day fluctuations in your ISA value, so you can worry less about what the market is doing.
Smoothing is explained further in the How our With Profits Fund works booklet.
When you save money into our Stocks and Shares ISA, you’re buying units in our With Profits Fund. The fund is managed by our investments team – named Investment Team of the Year (Re/insurer) at the Insurance Asset Risk Awards 2023.
It means you don't need to be a skilled investor to open your ISA. We manage the fund on your behalf, so you can simply focus on saving.
The With Profits Fund invests in UK and international shares, government and corporate debt, property, cash and other financial investments. Spreading money across multiple asset classes like this can help to spread risk.
We class the With Profits Stocks and Shares ISA as a risk category 3 investment (on a scale of 1 to 5). This means a ‘moderate’ level of risk and reward.
While our ISA is designed for longer term investment, you're free to take money out at any time as long as you're withdrawing £500 or more.
Note that if you choose to withdraw money from your ISA at certain times (usually when share prices have fallen substantially), we may apply an adjustment which reduces how much you get back from that withdrawal. This is called a Market Value Reduction (MVR).
It’s designed to protect those still invested in the fund from a high volume of withdrawals being made by other customers at unfairly high valuations.
A Market Value Reduction at Wesleyan is extremely rare. There's not been one in place here since 2009.
An Annual Management Charge (AMC) of 1.2% applies. This charge is collected automatically from your ISA.
If you are already opted in to Wesleyan Financial Services’ Ongoing Advice Service (OAS), the Annual Management Charge is 1.7%.
You can hold multiple ISAs at the same time, but please note you can only contribute to one stocks and shares ISA in a tax year. If you've already contributed to one, you'll need to open your ISA with a transfer.
Before you apply, please read the following documents:
Each tax year (6th April to 5th April), there’s a certain amount of money you’re allowed to put into an ISA.
For tax year 2023/2024, that allowance is £20,000. Just be aware that tax rules for ISAs can and do change, so the allowance may vary from year to year.
You can start your ISA with a lump sum of £1,000 or more. Or you can invest via monthly payments of £50 or more.
Our Stocks and Shares ISA is best suited to people who are able to commit for at least five years, so ideally, you should only invest money you won't need to touch in the short term. That said, you can withdraw money at any time if you need to, as long as you withdraw at least £500 each time.
You'll pay no personal income tax or capital gains tax on your investment returns from your ISA.
This is based on current understanding of legislation and tax treatment, which can change in the future.
The fund invests in a wide range of assets including UK and international shares, government and corporate debt, property, cash and more.
If you'd like to see a full asset breakdown and a list of the fund's top holdings, take a look at the latest With Profits Fund factsheet, by searching for 'With Profits ISA' in our fund prices centre.
Like all our directly managed funds, the With Profits Fund applies our principles of sustainable investing.
We regularly review the performance of our With Profits Fund, and when results allow, we increase the value of your ISA by adding a bonus. We can’t guarantee a bonus every year, but when a bonus is paid, it’s added automatically to your ISA – you don’t need to do anything to claim it.
Prefer to explore your investment options?
If you would like personal financial advice to help you make informed investment decisions, please book an appointment with a Specialist Financial Adviser from Wesleyan Financial Services. Please note initial advice fees apply to all products you choose to invest in after taking advice.