Award-winning investors
Named Responsible Investor of the Year at the Insurance Asset Risk Awards 2022, Wesleyan's investment team won Investments Team of the Year in 2023. This same team manages WUTM funds.
Why choose a Unit Trust Junior ISA?
Offering the chance to invest in a range of managed funds, a Unit Trust Junior ISA from Wesleyan Unit Trust Managers (WUTM) can help you give your children a head-start on their savings.
- Save up to £9,000 per child in the 2024/25 tax year, without affecting your own ISA allowance
- Pay no tax on your investment gains
- Choose from six risk-rated funds - all managed by an award-winning investments team
- Start investing from as little as £50 per month (or £1,000 lump sum)
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.
How it works
The Unit Trust Junior ISA is a stocks and shares ISA designed to help you save for your children’s future. Your contributions (up to £9,000 per tax year) are invested in the stock market via a range of managed Unit Trust funds - providing the potential for your money to grow as your children do.
Unlike an adult ISA, any family or friends can pay into a Junior ISA account. Your child will be able to access the pot as soon as they turn 18 – and when they do, there’ll be no tax for you or them to pay on any potential gains.
Investment Team of the Year 2023
After winning Responsible Investor of the Year at the Insurance Asset Risk Awards 2022, Wesleyan's investments team was named Investment Team of the Year in 2023. When you invest with WUTM, you can be confident your money is in the same safe hands.Product features
More buying power
When you invest in Unit Trust funds through the Unit Trust Junior ISA, you’re effectively pooling your money with other investors. That gives you the collective buying power to invest in assets that might be hard to access on your own.
To find out how and where our funds are invested, take a look at this guide to investing in unit trusts.
A family affair
One of the joys of the Unit Trust Junior ISA is that grandparents, uncles and aunts can all pay in as well. That makes it a great way for the whole family to contribute to the child’s future. Family friends can pay in too.
Just remember that total contributions for the 2024/25 tax year can’t exceed £9,000, no matter how many people are chipping in.
Pass it on
Once the child turns 18, ownership of the investment passes to them. The account automatically becomes an adult stocks and shares ISA, ready for them to use as they see fit.
Why invest with Wesleyan Unit Trust Managers (WUTM)?
Financial strength
WUTM is part of the Wesleyan Group, which also includes Wesleyan Assurance Society. The society has been managing customers’ money since 1841. Today, the group holds more than £8bn of people’s investments.
Track your JISA online
Thanks to the WUTM Investors portal, you can track the progress of your Junior ISA online. Check your balance any time, anywhere.
Your guide to Junior ISAs
A choice of funds
Risk Averse Fund
The Risk Averse fund aims to achieve a return by investing in a portfolio largely made up of UK government bonds. These are generally considered to be a relatively safe investment compared with shares.
- Risk rating – 1
- Ongoing Charge Figure (OCF) - 0%
- Read the fund fact sheet
- Read the KIID*
*Key Investor Information Documents
Low Risk/Reward Growth Fund
This fund invests in a balanced portfolio of mainly UK shares, government and corporate bonds. The portion of the fund allocated to shares within the portfolio will not exceed 40% (typically between 30 and 35%).
- Risk rating – 2
- Ongoing Charge Figure – 1.18%
- Read the fund fact sheet
- Read the KIID
Moderate Risk/Reward Growth Fund
This fund aims to provide capital growth through the active management of a mixed portfolio of shares, corporate bonds and government bonds. Shares will generally account for more than 50% of the portfolio.
- Risk rating – 3
- Ongoing Charge Figure – 1.28%
- Read the fund fact sheet
- Read the KIID
Moderate-High Risk/Reward Income Fund
This fund typically contains a mix of investments, including 60 to 85% major-market shares, plus government bonds and higher quality corporate bonds to help counterbalance the investment in shares.
- Risk rating – 4
- Ongoing Charge Figure - 1.42%
- Read the fund fact sheet
- Read the KIID
UK Growth Fund
This fund invests in companies listed on the UK stock market - providing access to a mixture of nationally focused businesses with global revenue streams. The fund takes a long-term view and expects to hold the core of its portfolio for years rather than months.
- Risk rating – 5
- Ongoing Charge Figure – 1.21%
- Read the fund fact sheet
- Read the KIID
International Growth Fund
The International Growth Fund invests in global companies. It can invest directly in most major countries across the world, giving it access to a wide variety of sectors and markets, including emerging markets.
- Risk rating – 5
- Ongoing Charge Figure – 1.56%
- Read the fund fact sheet
- Read the KIID
Got a question about the Junior ISA?
Give us a call on 0808 189 1874. We're open Monday to Friday, 9am - 5pm.
Want to top-up an existing Junior ISA?
To top-up an existing WUTM Junior ISA, please just log in to the WUTM Investor Portal or give us a call.
Want to transfer in from an existing Junior ISA?
To make a transfer, you can download, complete and send us the transfer form below. Alternatively, if you need advice beforehand, you can book an appointment with a Specialist Financial Adviser from Wesleyan Financial Services (initial advice charge applies).
Frequently asked questions
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Is a Unit Trust Junior ISA a stocks and shares ISA?
Yes, it’s a stocks and shares junior ISA, invested in our Unit Trust funds. Unit Trust funds are split into a large number of equal units, and those units are effectively what you’re buying when you pay into the ISA.
The value of the units can then rise or fall depending on the performance of the fund’s underlying assets.
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Who can open a Unit Trust Junior ISA?
To open a Junior ISA on behalf of your child, you’ll need to be the child’s parent or legal guardian, and you’ll need to be a UK resident for tax purposes. The child must be under 18.
The JISA is managed by the person who applies for the account - known as the ‘registered contact’. The child can take over the management of the account from age 16, though they still won’t be able to access the funds until their 18th birthday.
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How much can I pay into a Unit Trust Junior ISA?
Each tax year (6th April to 5th April), there’s a certain amount of money you’re allowed to save into Junior ISAs. For tax year 2024/25, that allowance is £9,000.
Just be aware that tax rules for ISAs can and do change, so the allowance may vary from year to year. If you don’t use your full allowance during the tax year, you won’t be able to carry any over.
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Does paying into a Junior ISA affect my own adult ISA allowance?
No, not at all. Every adult has a £20,000 tax-free ISA allowance for tax year 2024/2025, and this is entirely separate from the £9,000 Junior ISA allowance. In other words, you can save £9,000 into your child’s Junior ISA, and still put the full £20,000 into your own ISAs in the same tax year.
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What’s the minimum amount I need to open a Junior ISA?You can open your account with a one-off payment of just £1,000, a monthly subscription from £50 per month, or a combination of the two. Thereafter, you can top up your account at any time, up to the maximum junior ISA allowance.
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Can I withdraw money from a Junior ISA?
Except for in very exceptional circumstances, no money can be taken out of a Junior ISA until the child turns 18. So, if you open the account when your children are young, it’s a long-term investment with plenty of opportunity for growth.
Note that while you can’t withdraw from the ISA, you can transfer it to another provider at any time. Similarly, you can transfer to a WUTM Unit Trust Junior ISA from another provider.
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What happens when my child reaches 18?
Once your child turns 18, the account will automatically convert to an adult version of our Unit Trust ISA, held in their own name.
They’ll be able to take the money out without any exit fees. Or they can continue to save and invest with an increased adult ISA allowance of £20,000 per tax year (bear in mind ISA allowances can and do change).
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Can I open a cash ISA for my child too?
Yes, you can hold a cash junior ISA for your child as well as a stocks and shares junior ISA, and you can pay into one of each type in the same tax year. The overall limit remains £9,000 though.
Important Information:
Things to know before you apply
If you open your JISA direct, 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.
Where you receive advice from Wesleyan Financial Services, an Initial Advice Charge of 3% is deducted from each payment to pay for providing that advice. We (WUTM) will collect this charge on behalf of Wesleyan Financial Services (WFS) and pay it to them.
Ongoing charges
However you invest in a Unit Trust Junior ISA, 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 above.
If you opt in to the Ongoing Advice Service (OAS) provided by Wesleyan Financial Services, please note an additional 0.5% will be added to the OCF charge.
ISA and tax rules summary
The WUTM Unit Trust Junior ISA is a stocks and shares junior ISA. You can invest in one stocks and shares junior ISA and one cash junior ISA on behalf of your children in the same tax year. In total, the maximum amount you can save in Junior ISAs in the 2024/25 tax year is £9,000.
You’ll pay no personal income tax or capital gains tax on your investment returns from the WUTM Unit Trust Junior ISA.
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 Junior ISA for your children, 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 above.
If you are already investing with us and have opted into the Ongoing Advice Service (OAS) provided by Wesleyan Financial Services, the appropriate 'B' unit class KIIDs are available through the WUTM Investor Portal.