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Wesleyan cuts costs on with-profits Isa
Wesleyan Assurance Society has slashed the initial investment charge on its with-profits Isa to encourage more customers to make the most out of the tax-efficient savings vehicle.
The 2 per cent reduction applies to lump sum investments and transfers of more than £6000 and will be available until Friday, 4 May 2012.
The with-profits Isa invests in the Society’s top-performing with-profits fund, which gave a cumulative investment return of 11.22 gross from 2007 to 2011.
The aasset allocation of the fund is 63 per cent in equities, 13 per cent fixed-interest stocks, 10 per cent property, 2 per cent index-linked and 12 per cent in cash and other related investments.
Wesleyan marketing director Samantha Porter said: “Our with-profits Isa is designed as a medium to long-term saving product.
“Our professional customers often have a cautious approach to investment and, with changes in the way pension savings are taxed, the with-profits Isa offers a good alternative long-term saving investment to support retirement planning.”
