My Fund Select (ISA)

My Fund Select (ISA)

An Investment ISA from just £10 a month

Everyone has the right to more than one ISA

Did you know that you are allowed to have an Investment ISA (also known as a Stocks & Shares ISA) as well as a Cash ISA and (from 6 April) an Innovative Finance ISA each year? You can invest up to £15,240 in the current tax year in an Investment ISA, less any amount you have invested in a different type of ISA.

My Fund Select (ISA) lets you use the long term growth potential of the stock market to invest what you can afford for whatever you want.

The table below provides all the plan detail and things you should consider. For more information on My Fund Select (ISA) please visit the detail tab.

Investment features What you need to consider
  • Invest tax-free from just £10 a month using your Investment ISA allowance.
  • Once you have set up My Fund Select (ISA) you can cash in or raise, lower, stop and restart payments, at any time.
  • You have a choice of 3 mixed funds, the Lower, Medium and Higher funds.
  • Each fund invests for long term growth in a combination which may include cash, government bonds, corporate bonds and stock market investments.
  • Your money will be invested in a My Select policy within a Scottish Friendly ISA which will invest in your choice of fund or funds.For more information see the Fund tab.
  • You should consider this as an investment for a period of at least 5 years and ideally 10. The value of your investments can fall as well as rise and you could get back less than you have paid in. If you cash in before the end of five years there will be a £50 deduction from your cash-in value.
  • The actual risk and return of each fund will depend on Scottish Friendly’s ability to efficiently allocate investments to meet the risk profile of each fund.

Tax information

Tax Information
  • Tax treatment depends on your individual circumstances and tax law may change in the future.
  • Tax-free means the policy grows free of income and capital gains tax (other than tax on dividends from UK shares).
  • You can have one Cash ISA, one Innovative Finance ISA, plus one Investment ISA in each tax year. You can have as many policies as you like within your Investment ISA provided you do not exceed the annual ISA limit. The maximum you can invest in an Investment ISA is £15,240 in the current tax year less any amounts subscribed to a Cash ISA or Innovative Finance ISA with another ISA manager.
  • To apply you must be a UK resident aged 18 or over.
 

No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.


Invest towards your financial future

Did you know that you are allowed to have an Investment ISA as well as a Cash ISA and (from 6 April) an Innovative Finance ISA each year? You can invest up to £15,240 in the current tax year in an Investment ISA, less any amount you have invested in a different type of ISA with another ISA manager.

We all like to choose what’s right for us. Start using your Investment ISA allowance with My Fund Select (ISA) from Scottish Friendly and you can choose to invest from £10 a month. Which makes My Fund Select (ISA) an affordable way to get into the habit of investing for your future.

Tax treatment depends on your individual circumstances and tax law may change in the future. Remember, the value of stock market investments can go down as well as up so you could get back less than you've paid in.


Choose the potential risk and return to suit you

With My Fund Select (ISA), you get a simple choice of three risk graded funds:

Lower fund

Medium fund

Higher fund

Mostly invests in safer cash, government and corporate bonds, which offer less potential return.

Takes a more balanced approach when investing across all the asset types.

Mostly invests in riskier stock market investments which have a higher but more volatile potential return.

Each fund is designed to give you a choice between the potential returns you might make on your money and the risk you are willing to take. Whilst each fund has a different level of risk it also has a different level of expected long term investment return. But remember, no matter which fund you choose you could get back less than you invested.

So you might for example be prepared take more risk if you are only investing a small amount of money. Alternatively you might want the security of the Lower fund if you are investing for a specific target.

No matter what you choose, you are always in control, can change your mind and switch funds whenever you like.


Flexible payment options

With a choice of flexible payment options available, My Fund Select (ISA) puts you in control of your money: 

  • Stop, restart, increase or decrease your payments whenever you like. 

  • Access your money instantly, should you ever need it. 

  • Choose if you want to increase your payments automatically each year.

  • Please remember, if you cash in the plan before the end of 5 years there will be a £50 deduction from your cash-in value.


Added option to automatically increase your payments 

You can choose to increase your payments each year, if you wish, by a rate to suit you – for example 2.5%, 5% or 10% a year. This is known as your yearly payment increase rate.

In order to check what your monthly premiums would be each year for the first 10 years, check out our handy tool below:

 

Remember your monthly premium will continue to increase past year 10, however you have the option to change the yearly payment increase rate at any time.


Keep track of all your investments online

Once you have taken out a My Fund Select (ISA), you can register with Scottish Friendly’s My Plans online service.

With My Plans, you’ll be able to view and manage your Scottish Friendly investments online quickly and safely, when it suits you, from the comfort of your home, work or wherever you have access to the internet.

We’ll send you more details on My Plans after you’ve invested in your My Fund Select (ISA) or you can find out more right now if you set up online.


Ready to apply? It’s easy

Opening a My Fund Select (ISA) with Scottish Friendly is simple. First, please make sure you have read and understood the Key Features. Then you’re ready to apply online.

If you apply we suggest printing or saving a copy of this page along with other relevant web pages and the ‘Key Features’. That way, they will always be handy should you need to refer to them.

Apply Online>

Your choice of investment funds

My Fund Select (ISA) puts you in control of your investment. We offer a choice of funds so you can choose the ones that suit your needs best.

Remember though no matter which fund or funds you select, the value of the My Fund Select (ISA) can go down as well as up and you could get back less than you have paid in.

For more information on our how much your investment could be worth in the future within each of the funds, please click on the How your money could grow tab.


Funds

Further information on each of the funds can be found below.

  • Higher fund

    Higher fund benefits What you need to consider
    • A higher risk and reward investment linked to a managed basket of assets with emphasis on higher long term expected return assets such as the stock market.
    • Higher longer term growth potential than a cash based investment and better potential than the Lower fund or Medium fund.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • The fund contains a higher degree of risk than an investment in the Lower or Medium fund which means that it is likely to experience greater price rises and falls than the Lower or Medium fund.
    • The actual risk and return of the fund will depend on Scottish Friendly's ability to efficiently allocate investments to meet the risk profile of the fund.
  • Medium fund

    Medium fund benefits What you need to consider
    • An investment linked to a managed basket of assets designed which tends to favour assets such as the stock market and property which have greater levels of potential risk and return.
    • Greater longer term growth potential than a cash based investment and better potential then the Lower fund but less than that of the Higher fund.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • The fund contains a greater level of risk than the Lower fund but less than the Higher fund. This means that the Medium Fund is likely to experience greater levels of price rises and falls than the Lower fund.
    • The actual risk and return of the fund will depend on Scottish Friendly's ability to efficiently allocate investments to meet the risk profile of the fund.
  • Lower fund

    Lower fund benefits What you need to consider
    • A lower risk and reward investment linked to a managed basket of assets with emphasis on safer assets such as bonds and cash.
    • Greater longer term growth potential than a cash based investment.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • Whilst the fund contains an element of risk it is lower than that of the Higher or Medium fund. This means that the fund is likely to experience a lesser level of price rises and falls than the Higher or Medium Fund.
    • The actual risk and return of the fund will depend on Scottish Friendly's ability to efficiently allocate investments to meet the risk profile of the fund.

Start now from just £10 a month

Apply Online>

What might I get back from my policy?

When you start a My Fund Select (ISA), your money will be invested in a My Select policy within a Scottish Friendly ISA, which will then invest in your choice of fund(s).

Because your investment is linked to the stock market, it’s impossible to tell you the exact return you may get in the future — but we can give you a rough idea.

Select a fund from the drop down menu, below, use the sliders and click Calculate to see what you might get back for each fund available within a My Fund Select (ISA).


 

Start now from just £10 a month

Apply Online>