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Witan launches Jump Junior ISA

Witan launches Jump Junior ISA

Witan Investment Trust is launching its stocks and shares Junior ISA (JISA) on November 1st 2011.

Witan’s Junior ISA will be available through its Jump children’s Savings Plan, with investments made into Witan Investment Trust, its global multi-manager investment portfolio. The minimum subscription required to open a Jump Junior ISA is either a lump sum of £250 or, for regular savings either £50 a month or quarter. The maximum contribution for a JISA is currently £3,600 each tax year. As a launch incentive Witan is offering a £25 John Lewis voucher for each new account opened before the end of 2011.

Witan, which is one of the few Investment Trusts to develop a stocks and shares JISA in time for the scheme’s introduction at the beginning of November, has already received over 17,000 requests for its JISA brochure from people who have pre-registered their interest.

Designed to be simple and straightforward to open, the Jump Junior ISA has an annual flat fee of £30 plus VAT. The flat fee will apply no matter what the value of the client’s holdings or the number of years’ subscriptions made. There are no dealing charges (aside from Government Stamp Duty), and Witan will not charge when the client wishes to top-up or sell.

Andrew Bell, Chief Executive Officer of Witan Investment Trust said:

 “The launch of the JISA, along with the increase in the subscription limit for the Child Trust Fund, means that every child now has a tax efficient savings allowance of £3,600 each tax year. Having a financial nest egg when a child reaches 18 is becoming ever more desirable, whether to cover the increasing costs of higher education or to help with saving towards a home.

We are very pleased with the level of interest we have seen for the Jump Junior ISA. This take-up indicates that there is significant interest in stocks and shares Junior ISAs, notwithstanding the need to weigh the risks involved carefully.”

Witan’s Jump Savings Plan already manages investments in excess of £65million on behalf of over 17,000 children and Witan Investment Trust has more investors under the age of 10 than over the age of 70*.

*Source Witan as at 30.09.2011.

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For further information please contact:

Andrew Bell, Chief Executive Officer
Witan Investment Trust plc
Tel: 020 7227 9770

James Frost, Marketing Director
Witan Investment Trust plc
Tel: 020 7227 9770

Jain Castiau, Director
Cauldron Consulting
Tel: 0203718 7236/07909 963 969

Notes to Editors

Witan Investment Trust plc

Established in 1909, Witan is one of the UK’s largest investment trusts, managing some £1,084m (as at 30.09.2011, source Witan) on behalf of some 35,000 investors.  Witan is listed in the ‘Global Growth’ sector and is a member of the FTSE 250 index. Registered as an Investment Company in England No 101625.

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