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Portfolio Joint Investment Account

What is Portfolio Joint Investment Account?

Portfolio Joint Investment Account is suitable for those comfortable selecting their own risk profile and portfolio without the provision of advice or need for active investment portfolio management. The account provides an option to choose from three ready-made portfolios consisting of investment funds, each of which reflects a different risk category. These portfolios are rebalanced quarterly.

This account does not carry the tax reliefs of investing as is the case with an Individual Savings Account (ISA) or a Junior ISA.

To open a joint account, a minimum of two and a maximum four individuals are required.

Who can have a Portfolio Joint Investment Account?

You can set up a Portfolio Joint Investment Account, if you are resident in the UK and are aged 18 or over. There must be minimum two people and a maximum of four people.

If we hold a Portfolio Joint Investment Account with you can we still open ISAs?

Yes, you can all open individual ISAs but ISAs cannot be held in joint names.

How can we open a Portfolio Joint Investment Account?

To open a joint account you need to complete the online account opening form.

Who owns the assets in the Portfolio Joint Investment Account?

The assets are owned jointly between all parties.

With regards to Portfolio Joint Investment Account, Can we withdraw money in single names?

No. Any money requested to be withdrawn will be transferred to your nominated joint bank account.

What happens to our assets if my partner dies?

Upon death of one of you, we will treat the survivor(s) as the owner(s) of money and investments held in the account.

What investment options are available?

You can choose from three different portfolios consisting of investment funds, each of which reflects a different risk category. The risk categories and portfolios available are as follows:

  • Low to medium risk - Cautious portfolio
  • Medium risk - Balanced portfolio
  • Medium to high risk - Growth Portfolio

The description of each risk category, the composition of portfolios for each risk category and information on each constituent fund is accessible on Simply Ethical website.

Choosing a portfolio constitutes an instruction to us to buy each fund comprising the portfolio in accordance with stated allocation weightings. You cannot change the fund holdings, their respective proportions, remove existing funds or add new funds in the portfolio. If you do not agree with the exact portfolio composition or you wish to make changes, then Self Select Portfolio service is not suitable for you.

How often is the portfolio rebalanced?

We rebalance your portfolio by placing instructions with the Service Provider to invest, dispose of and re-invest cash in the constituent funds of your portfolio. We will rebalance your portfolio biannually on 12th day of January and July (or the first available Business Day after the 12th where such date does not fall on a Business Day). Rebalancing will return each of the fund holdings within the portfolio to the original allocation weightings.

What are the charges?

There is no set up cost.

The annual administration charge is tiered within bands as follows:

  • 0.85% per annum for the first £100,000;
  • 0.50% per annum between £100,000 and £500,000; and
  • 0.30% per annum above £500,000.

This charge is subject to a minimum of £12.50 per quarter. This charge is calculated daily, based upon the value of your investments and charged to the account at quarterly intervals on 31st March, 30th June, 30th September and 31st December each year.

Please read our Charges Schedule for complete details. This is accessible through our website www.simplyethical.com or by contacting us.


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