The ISA allowance is the maximum amount you can invest across all types of ISAs in any one tax year. You can put your whole allowance into a particular type of ISA or you can split it between the different types of ISAs: Cash, Stocks & Shares, Lifetime and Innovative Finance. The ISA allowance for the 2019/20 tax year is £20,000. For Junior Cash ISAs, the allowance is £4,368.
Triodos Investment Management are a wholly-owned subsidiary of Triodos Bank, and have been active in the sustainable investment sector for over 25 years. Triodos Investment Management manage investments ranging from sustainable energy infrastructure to microfinance institutions, and individuals in the UK can invest in the Triodos Sustainable Equity, Pioneer and Microfinance funds.
With effect from 6 April 2019, we have changed the bank account we use to accept electronic bank transfers to invest in the Triodos SRI funds. Our new bank details can be found on our new tax year ISA top-up form for investments in the 2019/20 tax year.
If you have previously made an electronic payment through your online banking and have saved the details as a payee, please ensure you update them before making any payments from 6 April 2019.
To top up your Triodos Stocks and Shares ISA, simply download and complete the Stocks and Shares ISA top-up form below and post it to: Freepost RTAB-JGZR-BUHK, Triodos Bank,T. Bailey Asset Management Ltd, 64-66 St James’s Street Nottingham NG1 6FJ
Yes, you can split your ISA allowance into different types of ISA: Cash, Stocks & Shares, Lifetime, and Innovative Finance.
You can utilise your ISA allowance by 'wrapping' your existing SRI funds in our Ethical Stocks & Shares ISA, this is also known as a Bed and ISA. Within the Ethical Stocks & Shares ISA you benefit from no further tax on income and no capital gains tax. The benefits of an ISA depend on your individual circumstances and tax rules may change in the future.
To wrap your existing holding in an ISA it must be sold and repurchased. We do not charge for the sale or repurchase, and we waive the initial charge when purchasing your holdings back. However, you must adhere to the minimum investment amount of £1,000 and the minimum top up amount of £500 per fund.
Please note, when selling your holding outside of the ISA wrapper you will realise a capital gain or loss. Most people have a capital gains allowance of £12,000 (for the 2019/20 tax year), below which there is no charge on gains. If you happen to make a capital loss this can be used to offset future capital gains.
If you would like to wrap your holding in the Ethical Stocks & Shares ISA please download and print off the Ethical Stocks & Shares ISA Top Up form below.
You can top up your investment in the socially responsible investment (SRI) funds at any time. The minimum top up amount is £500. To instruct a top up, please complete a top-up form which can be downloaded from below.
You could also call us on 0330 355 0355 to request either form, and there are copies of the forms in the welcome pack that we sent you after you made your first investment.
We offer two Socially Responsible Investment (SRI) funds the Triodos Sustainable Equity and Pioneer funds. Both funds are available in two different share classes, distribution and capitalisation.
The minimum initial investment per SRI Fund is £1,000, and the minimum top up amount is £500 per fund.
The minimum holding amount is £500 per share class, this means that your initial investment must be at least £1,000 per SRI Fund and £500 per share class. In addition to this, you are not able to sell part of your holding and leave a positive balance of below £500, and you will either need to sell your entire holding in that share class or if applicable a smaller amount.
Before you can apply for the Microfinance fund you will need to complete an Appropriateness Assessment. This will help us understand your knowledge and experience of this type of investment.
An Appropriateness Assessment can be downloaded below.
If we deem that the Triodos Microfinance fund is an appropriate investment for you, we will provide you with an application pack. Please note, that assessing the appropriateness of the Triodos Microfinance fund for you is not the same as providing financial advice. If you are unsure in any way whether the Triodos Microfinance fund is a suitable investment for you, you should seek independent financial advice. If you don't have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk.
Based on your responses to the questions in this assessment, if we deem that the Triodos Microfinance fund is not an appropriate investment for you, we will let you know and you will not be able to continue with your application. You may wish to look at an alternative product in the Triodos range in order to invest or save ethically.
Her Majesty's Revenue and Customs (HMRC) ISA rules require you to make a declaration, when applying to open an ISA. This is to confirm that you are eligible to subscribe to your ISA.
If you haven't subscribed to your ISA for a whole tax year, then you need to declare your eligibility again and confirm that you haven't paid into another ISA of the same type in the current tax year. You will not be able to make any further deposits into your ISA until a new declaration is made.
If you have Triodos Internet Banking, you can complete a new declaration online. To do this, please log into internet banking and select 'Account Management, ISA Declaration Management', from the menu.
Alternatively you can download, print and complete a declaration form below, or you can contact us and we can post a declaration form to you.
Junior ISAs and Fixed Rate Cash ISAs do not need a new declaration to be made after the account is opened.
The funds are European SICAV funds, in euro, and in the UK they are made available for investment in Sterling.
Currency risk arises because the investments made by the funds are denominated in US dollars, euro and other foreign currencies. In principle the fund does not hedge the currency risk of these investments. As the UK share classes are offered in sterling, when comparing returns for these share classes to those generated for the euro share classes offered to European investors, returns will be affected by currency fluctuations between Sterling and the euro.
Sterling investment is converted to euro, then invested in various currencies by the fund. The returns on the fund are therefore in some part driven by the euro exchange rate compared to the currencies of countries invested in. The UK share classes are then impacted by the £/euro fluctuations when the fund performance is converted to sterling to calculate returns for UK share class holders.
As the Triodos socially responsible investment (SRI) funds invest in stock market listed companies, returns are variable and not guaranteed and you may not get back the amount you originally invested.
Past performance figures for both Funds can be found on our website:
- Triodos Socially Responsible Investment Equity Fund
- Triodos Socially Responsible Investment Pioneer Fund
Please note that past performance is not a guide to future returns.
There is a 0.5% Initial Charge* applied to all new investments, which is taken from your subscription amount.
We also apply a 0.4% annual service charge which is charged on a quarterly basis. The annual service charge is expressed as an annual percentage and is calculated monthly based on the value of your holdings on the last business day of the month. On the first business day of the new month shares will be sold to cover the charge. By Business Day we mean any day on which banks are open for business in Luxembourg and the UK i.e. any day other than Saturdays, Sundays or other public holidays
Please be aware that the sale of shares to cover the annual service charge is classified as a disposal for Capital Gains Tax purposes and may need to be declared to HMRC.
The annual service charge will be itemised on your quarterly statement, which provides a breakdown of all charges applied over the previous quarter along with any additional trades during the period
There is also an Annual Management Charge (AMC) factored into the share price as part of the Ongoing Charges. The AMC is 0.75% for the Triodos Sustainable Equity Fund and 0.95% for the Triodos Sustainable Pioneer Fund.
When comparing investment fund charges in the market, you might come across the term Ongoing Charges or Total Expense Ratio (TER). They are both a type of cost calculation which estimates the total charges that will be taken from a fund throughout the year, including the AMC mentioned above. Details of what makes up Triodos Investment Managements Ongoing Charges and their maximum levels can be found in the Key Investor Information Documents (KIIDs) and Prospectus. What has actually been charged can be found in the Annual and Semi-annual reports.
*If you are investing more than £500,000 please call us on 0330 355 0355.
The Socially Responsible Investment Funds (SICAV I) dividends are paid if approved at the annual general meeting which is held on the third Wednesday of April each year. All distribution share holders as at the Record date will be entitled to a dividend payment. The key dates including the Record date and Payment date are communicated to shareholders by post each year.
RBC Dexia calculate and inform T. Bailey of the dividend rate on the Ex-dividend date. T.Bailey administers the payment of dividends to qualifying shareholders once dividend funds are received in the UK on the Payment date. A tax voucher or income statement will be sent to confirm the dividend amount.
You may wish to switch your existing investment between the Sustainable Pioneer Fund and the Sustainable Equity Fund. To instruct us to do this, a Switching form should be completed and returned to us. This form can be downloaded below, or call us on 0330 355 0355 and we’ll send you one.
Please be aware that with effect from 10th April 2017 the charges for investing in our SRI funds changed. If you decide to move all or part of your existing holding into a different fund or into an ISA with Triodos Bank UK after this date, the value of shares you wish to switch or move must be sold and repurchased and whilst the initial fee will be waived, the annual service charge will apply on the switched holdings from the date of the change.
Details of the initial and annual service charge can be found in the Supplementary Investor Document, which can be downloaded below.
Some products and services are considered by Triodos Bank to be so detrimental to a sustainable society that we choose not to invest in them. We therefore apply a zero-tolerance threshold to companies that derive any direct revenue from four specific areas:
- Hazardous substances
- Nuclear energy
- Unconventional oil and gas
There are other products and services where we employ a 5% threshold. In this category of products and activities we include animal testing, tobacco production*, factory farming, pesticides, fur, pornography and gambling. Companies involved in those activities can be accepted for sustainable investment if their revenues from these activities are less than 5% of total revenues and in most cases additional policy requirements are obligatory. Triodos Bank considers that five per cent or less of total revenues derived from involvement in these industries to be minor. In our experience, companies that derive more than five per cent of their revenues from these products and services have usually made a deliberate choice to be involved in them. Within this five per cent threshold we therefore distinguish between companies that make a deliberate choice to be involved, and those that are involved because it’s a secondary or indirect activity, making it very difficult to eliminate completely. It’s important to note that this acceptance must be alongside clear policy and adherence to codes, for example on pornography, strict rules around children and underage exposure would be required.
*the threshold is 10% for revenue from tobacco sales.
The annual service charge is collected by Triodos Bank UK to cover costs of providing our investment services, including ongoing administration costs.
The annual service charge is expressed as an annual percentage and is calculated monthly based on the value of your holdings on the last business day of the month. On the first business day of the new month shares will be sold to cover the charge. By Business Day we mean any day on which banks are open for business in Luxembourg and the UK i.e. any day other than Saturdays, Sundays or other public holidays
Please be aware that the sale of shares to cover the annual service charge is classified as a disposal for Capital Gains Tax purposes and may need to be declared to HMRC.
The annual service charge will be itemised on your quarterly statement, which provides a breakdown of all charges applied over the previous quarter along with any additional trades during the period.
To sell your SRI investment, you must send us a signed written instruction to:
T. Bailey Asset Management Ltd
64-66 St James’s Street
The proceeds of the sale will be sent to your nominated bank account within 3 business days of the dealing date.
Please note that if you are not selling the whole of your holding, a minimum fund balance of £500 applies. If your instruction takes the fund below that minimum balance we will try to contact you to establish how you would like to proceed, however if we are unable to contact you we reserve the right to reject your instruction pending further clarity.
You can choose to have any income generated by your investment in Triodos Socially Responisble Investment (SRI) funds automatically reinvested for capital growth or paid out to your nominated bank account. Please note that income is variable and not guaranteed.
To have any income generated automatically reinvested you should purchase capitalisation units, where any income generated is retained within the fund and reinvested, increasing the value of the units.
To have any income generated paid out you should purchase distribution units, where income generated by the underlying holdings is distributed as a payment to your nominated bank account.
You can switch part or all of your holding to between units at any time by completing a switching form below.
Triodos Bank offer a non-advised execution only investment service and it is important that investors understand the risks associated with investing in the Triodos Microfinance fund prior to investing. An overview of the key risks of investing in the fund can be found below, and a comprehensive list of risks can be found in the Prospectus.
- The Triodos Microfinance fund is active in developing countries that are generally considered to be higher risk than their developed counterparts that have more established and diversified economies
- The Triodos Microfinance is active specifically in the microfinance and inclusive finance sectors, and whilst investments are spread across different organisations and regions, the success of the fund is dependent of the success of this sector
- Whilst the Triodos Microfinance fund hedges against currency fluctuations to the extent practical and appropriate, fluctuations in the value of developing country’s currencies both negatively and positively impact the value of your investment
- The Triodos Microfinance fund provides loans and equity to primarily unlisted microfinance institutions and banks, and there is no guarantee that there will be sufficient liquidity to meet redemption requests and you may have to wait to receive your sales proceeds
If you are unsure if the Triodos Microfinance Fund is the right investment for you, please seek independent financial advice. If you don’t have an independent financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk
The target of the Fund is to invest 25-40% of its assets in equity (mostly local currency), up to 20% in subordinated and/or convertible debt (mostly local currency), 30-40% in local currency senior debt instruments and 10-20% in senior debt instruments denominated in U.S. Dollars and Euros. At least 10% of its assets will be invested in liquid assets.
Microfinance is the provision of financial services to low-income clients or those who traditionally lack access to banking and related services, specifically refering to institutions that specialise in making very small loans to very poor people in developing countries.
Our microfinance partners value the knowledge and expertise we bring to their business as an independent, values-driven bank, which shares their vision.
Another thing that sets us apart is our long experience in equity investments, which has enabled us to develop strong long term relationships, further reinforced by our active board membership in all investee companies and on the ground due diligence.
The outstanding professionalism and excellent reputation of our dedicated investment team provide a further compelling reason to invest in the microfinance sector with Triodos.