LV= ISA conversion to with-profits

Important information about LV= ISA

As we move towards building a secure and long term mutual future, we'll be making some enhancements to the LV= Smoothed Managed Funds range.

From 12 September 2022, your ISA will be converted to a unitised with-profits investment. By converting the fund to with-profits, you’ll be eligible to benefit from a mutual bonus and participate in the future profits of LV=. This will be added to your plan when LV= declares that a mutual bonus is payable.

Nothing else about your ISA is changing as a result of this conversion to with-profits. It will remain invested in the same fund, with the same asset allocation, the same smoothing process and the same charges.

You should be aware, however, that any mutual bonus amounts added to your ISA in future will not be guaranteed, and can be withdrawn in extreme market conditions. For more information on our mutual bonus, please see our FAQs.

We've also enhanced your ISA by increasing the range of investment options available to you. Two new funds were recently added to the Smoothed Managed Funds range:

  • ISA Extra Cautious
  • ISA Impact Growth

For more information about these new funds, and whether they may be suitable for you, please contact your financial adviser.

There is no action you need to take to benefit from these product enhancements.  The conversion of your ISA to with-profits will be done automatically.

In the unlikely event that you don’t want your ISA to convert to with-profits you always have the option, of course, of surrendering your ISA. Alternatively, you have the option of transferring the cash value to an ISA with another provider.

You can call us on 0800 032 2990 and we'll be happy to help you. For textphone, please dial 18001 first. Please note your call will be recorded and may be monitored for training and audit purposes.

Useful documents

Important documents about the enhancements we're making to the LV= ISA

The information in these documents shouldn't be considered as advice. If you're unsure, you should speak to a financial adviser.