How do Investment Pots work?
An Investment Pot is a GIA (or General Investment Account) provided by GetGround Limited (“GetGround”, “we”, “us”, “our”). GIAs enable investments in a wide variety of assets and offer the potential for capital growth, income, or both.
Any funds that you deposit into a GetGround Investment Pot will be automatically invested into a fund - in this case, the BlackRock ICS Sterling Government Liquidity Fund (Class Premier Accumulating GBP).
There is no minimum or maximum deposit. You can make multiple deposits, orders are processed once daily.
Is an Investment Pot right for me?
An Investment Pot could be right for you if:
- You have cash that you want to invest;
- Can leave enough cash in your Business Account to cover any upcoming company payments; and
- Understand that the value of your investment is not guaranteed and your capital is at risk.
If you are unsure whether the Investment Pot, its features and charges are right for you then you should take appropriate independent professional advice. We do not offer legal, financial, regulatory, investment, tax, accounting and/or any other independent professional advice.
Is the Investment Pot the same as a regular savings account?
There are some similarities, but they are not the same thing. Whilst both accounts can allow you to achieve moderate return on your capital, the money in your Investment Pot will be invested into a fund which can carry some risk depending on how the market moves.
Where will my funds be invested?
The Investment Pot aims to enable a moderate return on your investment. To do this all deposits are invested into a single money market fund that is managed by a fund manager, BlackRock Asset Management Ireland Limited. The BlackRock ICS Sterling Government Liquidity Fund (Class Premier Accumulating GBP) is an accumulating fund, which means income earned is continually reinvested into the money market fund. You can learn more about this fund in the Key Investor Information Document supplied by Blackrock.
We have selected this Fund because it is designed to preserve capital and provide good liquidity in normal market conditions. The Fund invests in government bonds, notes and bills issued or guaranteed by the United Kingdom Government and is rated AAA (or equivalent) which is the lowest risk score given by S&P, Moody's, and Fitch according to the ESMA’s SRRI framework. Your investment value changes each day according to the daily yield. This means that whenever you withdraw your funds you will benefit from any growth in the value of your investment up to the point of sale.
Why can I not have an ISA instead?
An ISA (individual savings account) is for personal savings, not business savings. Therefore, we are not able to open an ISA for your company.
Can I invest in other funds within this GIA with higher yields?
The Investment Pot aims to enable a moderate return, whilst minimising risk and maintaining liquidity, so we’ve selected a fund that is designed to achieve those goals.
Automatically investing all deposits into a single fund helps to keep the Investment Pot as easy to use as possible. You do not need to deposit money, decide which investment to choose and then place an order. We have designed the Investment Pot so that once you’ve made a deposit, or set up regular deposits, the investment is made automatically for you. It is important that you are happy with the investment when you make the deposit.
We may look into offering other funds in the future and we’ll let you know if this changes.
Will I receive income into my Investment Pot?
The fund deposits are invested into an accumulation fund so any income generated by the underlying assets is reinvested by the fund manager to increase the potential capital growth. The value of your investments may change daily, but no income will be paid as cash into the Investment Pot.
Is my investment covered by the Financial Services Compensation Scheme (FSCS)?
All cash deposited with the Broker & Custodian, WealthKernel Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 723719), are protected by the Financial Services Compensation Scheme (FSCS) up to a value of £85,000.
This doesn’t cover losses incurred through investment performance or if you get back less than you originally invested. Further information about the compensation arrangements is available from the FSCS website at http://www.fscs.org.uk.