The Unit Trust Investment Account from Wesleyan Unit Trust Managers (WUTM) allows you to invest in a range of risk-rated, fully managed funds. It doesn’t have the tax breaks of an ISA, but it doesn’t have the investment limits either - making it an option for investors who’ve already used their ISA allowance.
Dealing costs and ongoing charges will apply. If you take advice from a Specialist Financial Adviser from Wesleyan Financial Services, an initial advice charge will also apply.
Keep in mind that the value of your investments can go down as well as up, and you may get back less than you put in.
WUTM’s range of Unit Trust funds allow you to pool your money with other investors to access the kind of assets that might be difficult to buy alone. There are six fully managed funds to choose from, each invested differently to suit a range of attitudes to risk.
If you haven’t yet used your full ISA allowance (£20,000 for the 2024/2025 tax year), you may be able invest in these same funds tax-free through a Unit Trust ISA. But if you’ve maxed out your allowance, you can still invest through our Unit Trust Investment Account.
Money in your Unit Trust Investment Account won’t be protected from income tax and capital gains tax like it is in an ISA. But as you can invest without limit, it does potentially give you the opportunity to grow your pot more quickly when the funds perform well.
For more information, read our guide to investing in unit trusts (PDF 1.2MB).
If you want us to, we can help you make the most of your tax-free ISA allowance each year.
Opt in for auto-ISA subscriptions, and once a year we will automatically transfer the maximum amount possible from your Investment Account to a Unit Trust ISA, to protect it from tax. It’s one less thing for you to think about.
You can opt in or out of this facility by calling us on 0330 123 3813 (Monday to Friday, 9am - 5pm).
Like most investment products, the Unit Trust Investment Account is best suited to those who can invest for at least five years – but you can still take your money out at any time.
You can withdraw money either on a one-off basis or by taking regular income, without any exit fees (though please remember capital gains tax may apply).
We do ask that you always leave £500 invested, until you close your account.
Unit Trust funds can generate returns in two different ways - through capital growth (when the fund’s unit value increases) and through income from shares.
When your investment does generate income or interest, you can choose to have it paid to you directly or re-invest it in your account.
Reinvesting can significantly boost your investment returns over time, through a process known as ‘compounding’.
Want to know how your investment is going? If you have an individual plan, you can log in to the WUTM Investors Portal at any time to check on your portfolio, top up your investment or switch funds with just a few simple clicks.
You can make ad-hoc contributions to your investment (minimum £500) at any point, and it’s just as easy to take money out.
Joint plans can also be viewed online, but to top-up, switch funds or withdraw money, you’ll need to give us a call on 0330 123 3813 or book an appointment.
The Risk Averse fund aims to achieve a return by investing in a portfolio largely made up of UK government bonds. These are generally considered to be a relatively safe investment compared with shares.
*Key Investor Information Documents
This fund invests in a balanced portfolio of mainly UK shares, government and corporate bonds. The portion of the fund allocated to shares within the portfolio will not exceed 40% (typically between 30 and 35%).
This fund aims to provide capital growth through the active management of a mixed portfolio of shares, corporate bonds and government bonds. Shares will generally account for more than 50% of the portfolio.
This fund typically contains a mix of investments, including 60 to 85% major-market shares, plus government bonds and higher quality corporate bonds to help counterbalance the investment in shares.
This fund invests in companies listed on the UK stock market - providing access to a mixture of nationally focused businesses with global revenue streams. The fund takes a long-term view and expects to hold the core of its portfolio for years rather than months.
The International Growth Fund invests in global companies. It can invest directly in most major countries across the world, giving it access to a wide variety of sectors and markets, including emerging markets.
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Unit Trusts are investment funds that allow investment from an unlimited number of investors.
Each fund is split into a large number of equal units, with new units created for every new investment. Those units are effectively what you’re buying when you pay into your Unit Trust Investment Account.
The value of the units (and therefore your investment pot) can then rise or fall depending on the performance of the fund’s underlying assets.
You can take out a Unit Trust Investment Account if you are a UK resident for tax purposes and aged 18 or over. There’s no upper age limit on applications.
You can open an account on your own, or you can open a joint account with a partner. If you want to open a joint account, you’ll need to do this via a Specialist Financial Adviser from Wesleyan Financial Services.
You can open your account with a one-off payment of at least £1,000, a monthly subscription of at least £50 per month, or a combination of the two. Thereafter, there’s no upper limit on the amount you can pay in, or how often you can contribute.
Minimum top-ups are £500, and if you’re increasing a monthly payment, you’ll need to put it up by at least £10.
Remember, if you’re paying in less than £20,000 per tax year, your money could be better off in the Unit Trust Investment ISA. That’s why we offer an auto-ISA subscription feeder service, to automatically transfer money from your Investment Account into your ISA until you reach your tax-free allowance.
If you want advice on how and where to invest, you can book an appointment with a Specialist Financial Adviser from Wesleyan Financial Services.
Just note that if you choose to open a Unit Trust Investment Account with advice, you’ll pay an initial charge (3% of your initial payment).
When you open your investment account online, you will not receive any investment advice or personal recommendation from us. Please therefore make sure you read the important information and key documents below, and any documents presented to you during your application.
When you invest in a Unit Trust Investment Account, there are some management and dealing costs to pay. These costs are shown as Ongoing Charge Figures (OCFs). The latest OCFs for each fund can be found in the Key Investor Information Documents (KIIDs) above.
If you are opted in for the Ongoing Advice Service (OAS) provided by Wesleyan Financial Services, please note an additional 0.5% will be added to the OCF charge.
Investments in the Unit Trust Investment Account may be subject to Capital Gains Tax when money is taken out (including to pay for the costs of advice). You may also need to pay income tax on any interest or dividends distributed by the funds.
This is based on current understanding of legislation and tax treatment, which can change in the future.
Before you apply to open a Unit Trust Investment Account, please read the following documents:
Please also read the latest Key Investor Information Document (KIIDs) for any fund(s) you’re considering investing in. These can be found above.
If you are already investing with us and have opted into the Ongoing Advice Service (OAS), the appropriate 'B' unit class KIIDs are available through the WUTM Investor Portal.