Unit Trust Investment Account

Investing beyond the ISA limit

Before you invest: Read our guide

Why choose a Unit Trust Investment Account?

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.

  • Take your pick from six risk-rated investment funds, and swap at any time
  • Invest as much as you like, with no maximum limit
  • Let our award-winning Fund Managers manage your investment
  • Withdraw money at any time, with no exit fees
  • View your portfolio online at any time

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.

How it works

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 2022/2023 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 - or you’ve already contributed to another stocks and shares ISA and don’t want to transfer it - you can still invest through our Unit Trust Investment Account.

Potential for growth

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 436KB).

The choice is yours

When you invest in a WUTM Unit Trust Investment Account, you get to choose which fund or funds your money goes into – and how much risk you’re willing to take in pursuit of potential growth.

All our funds are risk rated on a scale of 1 to 5, where 1 represents the lowest risk (and lower potential returns) and 5 represents the highest risk (but potentially the greatest returns). Often this classification depends on how much of the portfolio is allocated to shares.

You can simply select the fund you’re most comfortable with, or you can spread your money across as many different funds as you like. You can swap funds at any time.

If you’re not sure what level of risk is right for you, you can book an appointment with a Specialist Financial Adviser from Wesleyan Financial Services. A 3% advice charge will apply for advised applications.

Auto-ISA subscriptions

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 to 5pm).

Flexible investing

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.

Compound growth

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’.

Track your progress

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.

Got a question about the Unit Trust Investment Account?

Call us on 0330 123 3813. We're open Monday to Friday, 9am to 5pm.

Frequently asked questions

  • What is a Unit Trust?

    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.

  • Am I eligible for a Unit Trust Investment Account?

    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.

  • How much can I save in a Unit Trust Investment Account?

    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.

  • What funds should I invest in?

    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).

Important Information:

Things to know before you apply

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.

Charges

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 in our fund prices centre.

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.

Tax rules summary

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.

Key documents

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 in our fund prices centre.

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.