Growing Up Bond (GUB)
GUB allows for investment in a number of different OEIC collective investment funds with different objectives.
Shares in the OEIC are registered in our name as nominee on behalf of the plan owner. They do not own any shares in their own name, but they are the beneficial owner of the GUB. A GUB can be placed in trust for the benefit of one or more beneficiaries (typically children or grandchildren), or can be “designated” less formally in favour of one or more persons.
All shares are accumulation shares which means dividends are automatically reinvested, thus increasing the share price. The value of shares goes up and down daily. Investment growth is subject to Income and Capital Gains taxes. There is no guarantee that the value of the GUB will grow, or that the owner or beneficiaries will get back as much as has been paid in.
Only the owner can pay into the GUB, but there is no maximum investment limit.
- We accept regular monthly payments, subject to a minimum of £50, or regular yearly payments, subject to a minimum of £250, by Direct Debit.
- We also accept lump sum payments, subject to a minimum of £250, by Direct Credit, Debit Card or cheque.
Charges and other information
Our charges differ from fund to fund, but are allowed for in the price of shares.
We issue half-yearly statements to the owner.
We no longer offer this plan for new investment.