If you are looking to invest for the longer term, you want your money to work as hard as possible. A building society account may be suitable for short-term investments where you need access to your money but for the longer term (ie- five to seven years or more), the stock market offers the potential of greater returns than you can expect from a building society. Of course, a deposit-based investment is secure and your capital is easily accessible without penalty.

The problem with stock market investment, however, is that few of us have the investment expertise or the cash to buy the stocks and shares ourselves - that's where the Scottish Friendly OEIC comes in!

To make the most of your money, you can take advantage of professional investment management where your money is pooled with the investments of a great number of people. This means that you benefit from investments spread across a wide range of stocks and shares, cash deposits and fixed interest securities.

Your investment means you'll have your own personal investment fund which combines flexibility with professional investment expertise.

In five, ten or more years you can look forward to the potential of a substantial lump sum.

However, please remember that the value of shares and the income from them can go down as well as up and your original investment is not guaranteed. Whereas capital values are guaranteed in building society accounts and benefit from ease of access.

• You can save monthly from £30 upwards
• Or you can invest a lump sum, starting at £500
• You can top up your investment at any time with as little as £100

You can split your investment between 2 different funds or invest solely in just one of them. It's up to you what percentage of your investment goes into each fund. And you will be able to switch your investment between the two funds.

You can invest in:

The Managed Growth Fund
A proportion of this fund is invested mainly in UK equities and additionally in global equities to provide growth potential. An element of security is added by investing a smaller proportion into fixed interest securities such as government bonds. Your money is actively managed by our investment team who use their expertise to decide which are the best investments.

The UK Growth Fund
The UK Growth Fund gives you good potential for growth from a carefully selected portfolio of leading blue-chip companies. It invests solely in UK equities, although a proportion may also be held in cash. This is a medium-risk fund which aims to outperform the FTSE All-Share Index.

Please remember that the value of the Managed Growth Fund and UK Growth Fund can go down as well as up and your original investment is not guaranteed.

You can switch between the Managed Growth Fund and the UK Growth Fund whenever you want. We normally switch units between funds on the first pricing day after we receive your instructions. There is an initial charge of just 4%, no matter whether you are selling or buying shares or switching between the sub-funds. The annual management charge is just 1%, deducted daily from unit prices. The Simplified Prospectus contains full details on charges.

Scottish Friendly's OEIC funds are managed by SVM Asset Management which is based in Edinburgh and headed by Colin McLean, one of the UK's best-known fund managers.

SVM was established in 1990 as a specialist manager of European and UK equity portfolios. Since then they have created an unparalleled performance reputation - managing investments for a number of FTSE 100 company pension schemes and other leading life and investment organisations.

Each of SVM's team has on average 15 years' experience. Colin McLean's own investment experience stretches back over 30 years, and he is widely regarded as one of the UK's top stock pickers. He is also a regular market commentator in the national press. However, past performance is not a guide to future performance.

We have designed the Scottish Friendly Investment Funds so that you can withdraw money when you need it. You can withdraw any amount above £50 provided that £300 remains in your fund. You should always remember, however, that your investment is intended for the longer term and you may get back less than you originally invested.

Applying is easy. Simply click on the Apply Now link to download an application form and read the Simplified Prospectus. Then complete it and post it to:

Scottish Friendly Assurance, FREEPOST, Glasgow G2 4BR

If you apply for this product, for your records, we recommend you print or save a copy of this and any other relevant pages together with a copy of the Simplified Prospectus.