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03/04/2014

The changes announced to ISAs in this year’s Budget mean that from 1st July 2014 people can invest up to £15,000 per annum in an ISA split as they choose between stocks & shares and cash. According to investment business, Skandia, whilst the new ISA regulations do not come in until 1st July, regular savers can take advantage of the increased limits next week by increasing their monthly contributions to £1,250 from Monday 7th April.

Under the new rules investors will now be able to switch back and forth between cash and stocks & shares, rather than having to disinvest from a stocks & shares ISA if they want to transfer to cash.

Mike Barrett, platform manager at Skandia comments:Mike Barrett

“Those choosing to divide their annual ISA contribution by 12 and invest monthly can start to take advantage of the new rate from next week, increasing their monthly contributions to £1,250 from Monday 7th April.

“The changing structure is not only great for seasoned ISA investors, but also for those who may have previously been hesitant to invest in the stock market as it allows them ‘dip their toe in the water’ within a single product.

“As well as offering a wide range of funds, we will be looking to enhance our cash option by 1st July to offer the most competitive interest rate we can secure.”

For more information contact

Amelie ShepherdOld Mutual Wealth02380 916 09107834 499 596
Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076

Notes to Editors:

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).

It has an adviser and customer offering spanning: Financial advice; investment platforms; multi-asset and single strategy investment solutions; and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Old Mutual Wealth’s multi-asset investment solutions business.

Old Mutual Global Investors (‘OMGI’) is the asset management business of Old Mutual Wealth with £39.8bn funds under management (as at 30 September 2017). On the 19th December 2017, Old Mutual Wealth announced that it has agreed to sell its Single Strategy asset management business to the Single Strategy Management team and funds managed by TA Associates. The proposed transaction is subject to customary closing conditions, including regulatory approvals. 

Following managed separation from Old Mutual plc, Old Mutual Wealth will rebrand to Quilter plc. Each of the businesses within the Quilter Plc group will be rebranded over a two-year period, with the exception of Quilter Cheviot, which will retain its existing name.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).

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