Performance

According to Moneyfacts Investment Life & Pensions Magazine, September 2019 (PAST PERFORMANCE IS NOT A GUIDE TO THE FUTURE)

According to Moneyfacts Investment Life & Pensions Magazine, September 2019 (PAST PERFORMANCE IS NOT A GUIDE TO THE FUTURE)

Past Performance Results for With-Profits Savings Plans -

Moneyfacts Investment, Life and Pensions Magazine published an independent survey which compares traditional with-profits saving plan returns. Sheffield Mutual continues to deliver market-leading returns to regular premium policyholders over 10, 15, 20 and 25 years.

Click the link below to see the full results.

With Profits Endowment - Past Performance Results (1.5M, .PDF)

Bonus Rates

The current and past bonus rates can be found in the table below. The 2019 Interim Rate is used for maturities and claims prior to the next declaration. It is not a reliable indicator of future bonus rates.

Bonus History Sheet - Issued April 2019 (276.4K, .PDF)

 

 

Current & Previous Bonus Rates

          2019
Interim
Rate
2018201720162015  
Investment ISAs  4.50%1,3 4.50%1,3 4.50%1,3 4.75%1,3 5.00%1,3
Investment Junior ISAs  4.50%1,5 4.50%1,5 4.50%1 4.75%1 5.00%1
Tax Exempt Savings Plan New Issue (Type 43)  1.20% 1.20% 1.20% 1.50%   1.50%
Tax Exempt Savings Plan Old Issue (Type 23) 1.00%2 1.00%2 1.00%2 1.30%2   1.30%
Tax Exempt Savings Plan with Life Assurance (type 24)  1.00%2 1.00%2 1.00%2 1.30%2   1.30%
Regular Savings Plan New Issue (Type 47) 1.00% 1.00% 1.00% 1.10%   1.10%
Regular Savings Plan Old Issue (Type 27) 0.80%2 0.80%2 0.80%2 1.00%2   1.00%
Investment Bond  2.50%4 2.50%4 2.50%4 2.75%4 2.75%4
Income Bond 2.75%4 2.75%4 2.75%4 3.00%4 3.00%4
Pension Bond 3.00%4 3.00%4 3.00%4 3.25%4 3.25%4

Please note, bonuses for the Tax Exempt, Regular Savings Plans and Investment Bonds are calculates on the 'Sum Assured' amount, not what has been paid in.

1. Before deduction of the 1.5% annual management charge for ISAs/JISAs

2. A 2.5% Terminal bonus (1.0% prior to 20 March 2017) will be paid on maturing endowments (Policy types 23,24 and 27).

3. A 5% Terminal bonus applies on types 30 & 31 (Insurance) ISAs taken out in 2003/04 and for ISA subscriptions in the 2009/10, 2010/11, 2011/12, 2012/13 and from 22/03/2019 has been extended to the 2013/14 tax years.

4. A 7.5% Terminal bonus will be paid on bonds invested over 5 years (5% prior to 16/03/2018)

5.The Society has also introduced a Terminal bonus of 5% for Junior ISA subscriptions paid up to and including the 2013/14 tax year.

 

Key Facts

Key Facts20182017201620152014
Premium Income £m* 16.8 19.7 17.5 13.05 9.69
Total Assets £m 144.3 138.4 113.8 90.4 77.5
Number Of Members* 11,635 10,294 10,678 9,955 9,189
Number Of Policies* 15,604 14,837 13,654 12,416 11,281

* Excluding Child Trust Fund.

2018 Business & Financial Highlights: 

  • Total assets increased by 4% to £144.3 million (2017: £138.4 million)
  • Traditional membership grew by 3% to 11,635 (2017: 11,294)
  • Total number of traditional policies increased by 5% to 15,604 (2017: 14,837)
  • Including the Child Trust Fund the Society now has 78,953 policies and accounts

Due to a slump in global investment markets during the final quarter of the year, Sheffield Mutual’s with-profits fund generated an overall investment return of -0.47%.  The Society’s property portfolio performed strongly however, delivering a respectable 6% return, offsetting some of the unrealised losses on equities.  Despite a less favourable year for our investment portfolio, through the process of smoothing we are able to rely on previous years’ excellent returns (2017: 8.01%, 2016: 7.22%) to maintain competitive annual bonus rates for all policies and terminal (final) bonuses for applicable policies. 

The Society has retained a strong financial base with available capital resources of £14.8 million, which are the surplus assets in excess of capital reserves. We have also maintained healthy solvency coverage at 152% of the regulatory solvency capital requirement.   

Commenting on the results, Jamie Bellamy, Chief Executive, said: "The Society has continued to grow organically whilst maintaining highly competitive rates, despite a backdrop of investment and economic uncertainty.  We believe that due to our mutual ethos we’re trusted by our members to continue to offer stability and excellent member service standards.”

 

Asset Allocation

We hold a significant proportion of commercial property as we can generate good yields from long term leases with reputable tenants. We maintain a reasonable exposure to shares in order to maintain the value of investments over time but hold some of the funds in other assets to improve diversification and spread risk. Please see the asset allocation mix below as at 31 December 2018:

Pie Chart 2018

Pie Chart 2018

Why choose Sheffield Mutual?

  • The majority of our products have a guaranteed sum assured (final amount) for more than you will pay in
  • As a mutual we have no shareholders to satisfy so all our surplus profits are shared with you, our members
  • The Society operates an active Market Value Reduction (MVR) policy but has never imposed an MVR, although this is no guarantee of the future
  • When you contact Sheffield Mutual you can be guaranteed a friendly and personal service, you will never be put through to a call centre
  • The Society offers discretionary member benefits such as optical and dental grants and the Tell-a-Friend scheme

If you require any further explanations as to how these figures have been produced, please do not hesitate to contact us on 01226 741000 or email us at enquiries@sheffieldmutual.com.

We're Ethical

It is our aim not to invest knowingly or directly in industries relating to armaments, tobacco, gambling or pornography.

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