If you have more than one ISA or Junior ISA with us, we will combine the total value of all of the unit linked funds in your ISA accounts or all of the unit linked funds in your Junior ISA accounts to calculate your total charge and then apply it proportionately across each of your ISA or Junior ISA accounts. For example, if you have one ISA with us worth £1,000 and another with us worth £10,000, the total fund value is £11,000. . To calculate your total annual charge:
We charge 1.5% on the first £5,000, which equates to £75
We then charge 1% on the remaining £6,000, which equates to £60
This gives you a total charge of £135 per annum. This charge represents the total annual charge, which we take a proportion of each month over a 12 month period.
This equates to a percentage charge of 1.23% per annum. To take this charge, we apply a 1.23% deduction of units on each of your ISA accounts. This equates to:
A £12 deduction from your ISA worth £1,000
A £123 deduction from your other ISA worth £10,000
This means a total charge of £135, which we take a proportion of each month over a 12 month period.
Note that we will only combine the values of your ISAs together with your other ISAs. For Junior ISAs we will combine all the Junior ISAs by the owner of the policy. This means that if you have ISAs and are also the registered contract for Junior ISAs, we do not combine the total value of the ISAs and Junior ISAs when determining your charges.
If you have an ISA and are also the registered keeper of a Junior ISA, we do not combine the value of both to determine your charge. The charge for each product type will be based on the individual value of each.
The charging tier(s) upon which your AMC for your Unit Linked Funds will be calculated is only based on the value of your Unit Linked Funds, rather than the combined value of your Unit Linked Funds and Unitised With-Profits Funds, if you’re invested in both.
The 0.25% reduction in your charge for Unitised With-Profits funds applies only to your Unitised With-Profits Funds regardless of the value of your funds within it.
We charge an annual fee for managing your investment(s), but instead of taking it all at once, we spread it out over 12 months. This means you will see a smaller amount deducted each month. This approach allows you to regularly see and understand how the charges affect your investment(s).
Investments in our Unitised With-Profits Fund currently benefit from a reduction in the bonuses declared in the fund, equivalent to a 0.25% reduction in charges from 1.5% to 1.25%. This reduced rate of 1.25% is part of an ongoing offer that began in January 2025 and is subject to regular review.
We will take a fee (Annual Management Charge) each month to manage your fund. This fee will be deducted by reducing the number of units in your Unit Linked Funds in line with the tiers outlined above. The amount we deduct will depend on your total investment with us. For example, if you have £1,000 in your fund, we will deduct units worth £1.27 over a 31-day month. This works out to an annual fee of 1.5%.
Our Unitised With-Profits Fund is a mixed managed fund from Scottish Friendly where premiums are pooled with those of other clients and returns are linked to the performance of the underlying assets within the fund.
You can find more information here.
A Unit Linked Fund is an investment where your money is used to buy units in a fund of your choice. The value of these units goes up or down depending on how well the fund’s investments perform. Your money will be invested in an investment policy within our ISA. The policy then invests in a choice of fund(s) – with a range of varying risk and reward profiles.
You can find more information here.