Witan Investment Services to transfer its Savings Schemes to a specialist investment platform

The Boards of Witan Investment Trust (Witan) and Witan Investment Services (WIS) have reviewed the current service level available to our Savings Scheme Account Holders. In light of the increasing variety, capability and cost effectiveness of investment platforms in the wider savings market they have concluded that the interests of Account Holders would best be served by a transfer (free of exit charges) to a specialist investment platform. They have chosen Hargreaves Lansdown, a FTSE 100 Company, as the recommended option, although Account Holders will also have the option to transfer to a different provider of their choice.

 

Harry Henderson, Chairman of Witan Investment Services said:

 

“There is an increasing range of savings platforms offering a broader array of services than those available to Witan Savings Scheme investors. Coupled with this, in recent years there has also been a substantial increase in the regulatory cost associated with the provision of the Schemes which has been borne by Witan shareholders as a whole.

 

We are confident that the proposed transfer will result in improved flexibility and choice for Account Holders, at a competitive cost.

 

We thank our members for the trust they have placed in us over the years in managing and administering their savings schemes. We will be doing all we can to ensure this necessary process will go as smoothly as possible.”

 

 

- ENDS –

 

For further information please contact:

 

Andrew Bell, Chief Executive Officer

Witan Investment Trust plc

Tel: 020 7227 9770

[email protected]

 

James Hart, Investment Director

Witan Investment Trust plc

Tel: 020 7227 9770

[email protected]

 

Alexis Barling, Director of Marketing

Witan Investment Trust plc

Tel: 020 7227 9770

[email protected]