SPW ICVC Investment Portfolio User Guide

: May 15, 2024
: SPW

Table of Contents

ICVC Investment Portfolio
Investing
Charges and expenses
Other information
Documents / Resources

ICVC Investment Portfolio
User Guide SPW ICVC Investment Portfolio

SPW Investment Portfolio ICVC
Supplementary Investor
Information Document
February 2024
spw.com

ICVC Investment Portfolio

Please contact us if you’d like this information in an alternative format such as Braille, large print or audio.

Guide to this document
This document should be read alongside the relevant two-page Key Investor Information Document (“KIID”). Together they summaries information about your investment in the funds.
You should read these documents carefully to help you understand what you are buying; and keep them safe for future reference.
You should also read the relevant Prospectus (the “Prospectus”) before making an investment decision.
The KIIDs and the Prospectus are available on our website or copies may be obtained free of charge, by contacting us at the details provided below. If you have any doubts about the contents of these documents, you should contact a professional adviser.
As we are not registered with the relevant authorities in the United States we cannot sell shares to people who are “US persons”. For a definition of a US person, and for further information on this point, please see further details in the Prospectus.
All documents are available in English.
Contact us
If you have any questions, or support needs, please contact us.
Call us: +44 (0) 344 822 8910 Monday to Friday 9am–5.30pm (excluding bank holidays)
Calls may be monitored and recorded and call costs may vary depending on your service provider.
Website: www.spw.com/our-services/fund-info
Address:
Schroders Personal Wealth (ACD)
PO Box 560
Darlington
DL1 9Z8

Your investment

SPW Investment Portfolio ICVC (the Company) is an Open-Ended Investment Company (OEIC), offering a range of funds (Funds) into which you can invest.
The Company is authorised by the Financial Conduct Authority (FCA) and is a “non-UCITS retail scheme” (a “NURS”).
The Company is an umbrella company, which means we can set up separate funds from time to time with the approval of the FCA. Funds are a way of combining your money with that of other investors to buy a wider range of investments. This can help to reduce risk by spreading your money over a wider range of investments and provide access to the services of a professional fund manager. Each Fund is divided into shares, with the number of shares you hold representing your share of the Fund. As more people invest in a Fund, more shares are created and the Fund grows. When people take out their money a Fund will reduce in size. The value of a Fund is directly related to the value of the assets in which it invests and the number of shares it issues.
Who are the Funds aimed at?
The Funds are designed to meet a wide range of investment needs and different appetites for risk. A summary of the investment objectives and policies of the Funds can be found in the relevant Key Investor Information Document (“KIID”).
The SPW IPS Funds and SPW Asset Allocator Fund are advice business portfolios.
Further details of the Funds’ investment objectives and policies can be found in the Prospectus.
What may the Funds invest in?
Each Fund has a different aim and may, therefore, hold a different mix of investments to achieve that aim. In addition, the Funds have the (limited) ability to invest in other asset types and countries, subject to each Fund’s specific investment objective and policy.
A Fund’s mix of investments may change over time due to, for example, investment opportunities and changes in market conditions.

Investing

How do I invest?
Your investment can be made directly into one of our Solutions Funds via a General Investment Account (GIA). We also accept ISA transfers. For investments into the SPW Asset Allocator or IPS Funds please speak to your SPW Adviser.
The IPS and AA Funds are component funds and are part of the advice business portfolios. Please speak to your investment adviser for investments in these funds.
You can keep your investment for as long as you choose as it has no fixed term. You should aim to keep it for the medium to long term (at least five to ten years).
To invest in one of our Funds, please complete our Application Form and send it to us. We will invest in the Fund(s) you have chosen at the next Valuation Point following the Dealing cut-off after we receive your application and payment. A contract note giving details of the shares purchased will be sent to you no later than the next business day.
The Dealing cut-off is 11.59am and the Valuation Point is 12 noon for all funds other than the SPW Solution Funds. For the SPW Solution Funds the Valuation Point is 12 noon and the dealing cut-off is 5.30pm the previous day.
What happens if I change my mind?
If you received advice from a financial adviser, and subsequently invested or set-up a monthly investment for the first time, you will receive a notice informing you of your right to change your mind and instructions on how to cancel. You will then have 30 days to cancel your investment. Please note that if the value of your underlying investment has dropped from the time your money was originally invested in the funds, you may not receive your full money back.
If you have invested in a ISA and change your mind during the cancellation period, you will be able to open another ISA of the same type in the same tax year. If you change your mind after the end of the cancellation period you will not be able to open another stocks and shares ISA in the same tax year. Please note that cancellation rights do not apply on changes to existing monthly investments.
How do you calculate the value of the shares and where can I find out my shares’ value?
The value of your shares is linked directly to the value of the investments held in the Fund. We work this out at 12:00 noon on each business day, which is the valuation point for all funds.
The Funds only have one price at which shares can be bought and sold. The previous day’s dealing prices of shares in the Funds are available at www.spw.com/our-services/fund-info. The prices of shares can also be obtained by calling us.
What limits apply to investment in the Fund?
For the SPW IPS and SPW Asset Allocator Funds, please refer to your professional adviser. The minimum initial investment for each individual fund is £1,000. The minimum subsequent investment is £100 and minimum ongoing holding is £500 for each fund.
What is the process when I sell my shares?
You can sell all or some of your shares at any time. We will sell your shares at the valuation point after we receive instructions from you. Once we have received the documents we require to make the payment, we will send the proceeds of the sale to you, normally within three business days. Investors are entitled to sell their shares on any dealing day.

Charges and expenses

What are the charges involved in investing?
There is currently no initial, Switching, Conversion or Exit Charge on any of the funds. Full details of other charges, how they are calculated and when they are paid are set out in the Prospectus.
What expenses do the funds have?
There are other fees and expenses payable out of the scheme property of each of the Funds.
Details of these can be found in the Prospectus.
The total expected Ongoing Charge Figure (which includes the Annual Management Charge) is set out in the KIID.
Taxation
Tax affects both your personal position and that of the Funds. The tax position may change in the future. If you are unsure about your tax position, you should obtain advice from a professional adviser.
What is my tax position if I invest in the Funds through an ISA?
When you invest through an ISA, there is no personal income tax or capital gains tax to be paid on income or gains in your ISA investment. The value of any tax advantages will depend on your individual circumstances.
What is my tax position if I invest into the Funds directly?
The information below is a general guide based on current UK law and HMRC practice, which are subject to change. It summarizes the tax position of the Funds and of investors who are resident in the UK and hold shares as investments.
Prospective investors who are in any doubt as to their tax position, or who may be subject to tax in a jurisdiction other than the UK, are advised to take professional advice.
You may have to pay UK capital gains tax if you sell shares or switch between funds.
Income – Equity Funds:
Funds which hold a high proportion of shares in their investment portfolio, are called “Equity” Funds. For the purposes of tax these will pay any distributable income as dividend distributions. Dividend distributions will be paid with a 10% tax credit. UK resident individuals liable to income tax on investment income at the basic rate will have no further liability to tax. Higher rate taxpayers will have to pay an additional amount of income tax, as will additional rate taxpayers. Non-taxpayers may not reclaim the tax credits on dividend distributions paid.
Income – Bond Funds:
Funds which hold a high proportion of bonds are called “Bond” Funds. For the purposes of tax these currently pay interest distributions. These distributions are made without the deduction of basic rate income tax. A tax voucher will be supplied to Shareholders showing the total interest distribution.
Depending on your personal tax position, you may have to pay income tax on the income you receive.

Other information

What other information can I access?
We make available the annual report within four months of each annual accounting period. The half yearly report will be available within two months of each interim accounting period. The reports are available on our website, or may be obtained free of charge, by contacting us at the details provided.
Best Execution
Our best execution policy sets out the basis upon which we will effect transactions and place orders in relation to the Company whilst complying with our regulatory obligations to obtain the best possible result for the Company. Details of the best execution policy are available on request.
UK Money Laundering Regulations
To comply with the identification requirements of the UK Money Laundering Regulations, we may need to ask you to provide proof of your identity and address when buying or selling shares or to perform independent electronic searches of third-party databases
How do I complain?
To obtain a copy of the Complaints Procedure or to make a complaint, please write to Schroders Personal Wealth (ACD), PO Box 560, Darlington DL1 9ZB. The Complaints Procedure can also be found on the Contact Us page of our website at www.spw.com/contact-us. If a complaint is not resolved to your satisfaction and you subsequently wish to take the matter further you may refer it direct to The Financial Ombudsman Service at Exchange Tower, Harbour Exchange Square, London, E14 9SR. You can also contact them by telephone on 0800 023 4567 or by email complaint.info@financial- ombudsman.org.uk

Am I covered by a compensation scheme?
You are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from this scheme if we cannot meet our obligations. This depends on the type of business and circumstances of the claim. Most types of investment business are covered up to £85,000. Further information is available from the Financial Services Compensation Scheme, www.fscs.org.uk

Client Asset and Money rules
In some circumstances, depending on the nature of your transaction with us, we will make use of the “delivery versus payment” exemption within the Financial Conduct Authority’s Client Asset and Money (CASS) rules. This means that when you pay money into, or withdraw money from, your investment there could be a period of time up to the end of the business day after the date we receive the money where it is not protected under the CASS rules. In such cases, if we were to become insolvent during that period, there is a risk that you may not receive your money back.
Investor cash balances
Any investor cash balances (which is money held on behalf of an investor will be held in a segregated non-interest bearing account with a bank or building society nominated by us, separate from any account used to hold money belonging to us in our own right. We will not, however, be responsible for any acts or omissions of the bank or building society. If the bank or building society becomes insolvent, we will have a claim on behalf of our clients against the bank or building society. If the bank or building society cannot pay all of its creditors, any shortfall may have to be shared pro rata between them. However, you may be entitled to compensation under the Financial Services Compensation Scheme, details of which are available on request. Interest will not be paid on any cash held in client money accounts (an account where investors’ money may be held)
How we use your information
For the purposes of the General Data Protection Regulation, the data controller in relation to any personal data you supply is Schroders Personal Wealth (ACD). Information you supply may be processed for the purposes of investment administration by Schroders Personal Wealth (ACD), by third parties who provide services to Schroders Personal Wealth (ACD) and by your financial adviser, and such processing may include the transfer of data out of the European Economic Area. You can find out more about how we use your personal information by visiting our website to view our full privacy notice on www.spw.com/privacy-policy SPW ICVC
Investment Portfolio - Fig

spw.com
SCOTTISH WIDOWS SCHRODER
PERSONAL WEALTH (ACD) LIMITED
25 Gresham Street, London, United Kingdom, EC2V 7HN
Company number 11722973
FCA Reference number: 834833 | SPW00331