Your contributions into the LIC Steady Growth ISA is pooled with contributions from other investors, and the fund managers invest the ‘pooled’ fund into carefully chosen asset classes, like stocks and shares, property and fixed interest securities in order to achieve increased investment income and steady capital growth.
Currently LICI’s With Profits Fund is being managed by Investec Wealth & Investment Limited . You can get details of fund management upon request by telephone on 0800 0685712 ( free phone )
The LICI UK With-Profits fund notionally invests in the ratio of 50:50 between equities and fixed interest securities, to offer potential higher returns.
The fund performance mainly depends on stock market returns, which may go down as well as up. The fund declares bonuses, which is added to the policy value.
If you cash in before 3 years, then an early encashment charge applies.
We may also apply Market Value Reduction in case you decide to withdraw at a time the stock market is performing badly. It will however be not applied on the 10th anniversary from when you first started the policy and on every 5th anniversary thereafter.
The performance of the fund is also affected by our charges.
Please refer to the KFD for details of charges and MVR.