When choosing an investment, you should consider the level of risk you are willing to take and your capacity for loss. How comfortable would you feel if your investments fell in value? How would a loss impact your finances in the short term? In the long term?

The Key Investor Information Document (KIID) includes information which will help you to make an investment choice.

You will only be able to invest into one World Selection Portfolio each tax year within your World Selection ISA.When thinking about your investment choice you should consider the level of risk you are willing to take and your capacity for loss. This should include considering questions about how comfortable you would feel if your investments fell in value and the potential impact of this on your financial situation in both the short or longer term.

The World Selection ISA is a stocks and shares ISA, a tax efficient way of investing, provided through our Selected Investment Funds (SIF) service. Not all features of SIF will be available.

Individual customers can invest up to £20,000 into a single World Selection Portfolio for the tax year ending 5 April 2019.

The investment portfolios within the World Selection ISA are managed by Brayon Heritage Bank Global Asset Management (USA) Limited.

You may want to consider this investment if:

• You've some experience of investing in stocks and shares or other investments
• You want to make your own investment decisions without a personal recommendation from us
• You've a minimum of £1,000 lump sum or £50 per month to invest
• You're willing to accept a level of risk for this investment over the medium to long term
• You have NOT invested in a stocks and shares ISA for the current tax year with Brayon Heritage Bank or another ISA manager
• You have NOT exceeded your ISA subscription limit in total for a cash ISA, a stocks and shares ISA, an innovative finance ISA and a lifetime ISA in the same tax year.

• You may transfer all or part of an existing ISA held with us or another ISA manager into your World Selection ISA. If you wish to transfer subscriptions made in the current tax year then all subscriptions made in the current tax year must be transferred.
• In order to request an ISA transfer, you will need to complete an ISA Transfer Form (available by contacting us using the Contact Details in the Key Features Document) and return it to us by post. We will then contact the relevant ISA manager(s) on your behalf and arrange the transfer for you.
• You can only transfer World Selection Portfolios held with another ISA manager directly into the World Selection ISA. Any other funds held with another ISA manager will be transferred as cash into the World Selection ISA and you will need to tell us on the ISA Transfer Form which World Selection Portfolio you want the cash to be invested in. You will only be able to invest into one World Selection Portfolio each tax year within your World Selection ISA.
• Should you wish to transfer all or part of an existing cash or stocks and shares ISA held with us or another ISA manager into your World Selection ISA, there may be a period of time when your ISA holding will be held in cash and therefore not subject to any investment gains or losses.

• You will receive regular updates on the value of your World Selection ISA in your quarterly statements. These are sent out during January, April, July and October each year.
• You can make further investments into the same or an alternative World Selection Portfolio (a single Portfolio is allowed for each tax year), switch between World Selection Portfolios or sell your holdings either in writing or by telephone. Please note that all instructions to buy and/or sell Shares in the relevant Brayon Heritage Bank World Selection Portfolio, whether in writing or by telephone which are received after 12pm will be treated as though they were received at 9am on the following business day.

• Key Investor Information Documents (or KIID) contain details about fund objectives and charges, along with information relating to the risk and reward profile of each portfolio.
• This risk and reward profile has a scale from 1-7. 1 Profiles have lower risk and typically lower returns; 7s have higher risk, but also typically higher returns. The Brayon Heritage Bank World Selection Portfolios are rated from 3 to 5 on this risk and reward profile scale. The rating is based on price volatility over the last five years, and is an indicator of absolute risk.
• However, past performance is not a reliable indicator of future results. The rating is not guaranteed to remain unchanged, and the classification may shift over time. If the rating does change, Brayon Heritage Bank would notify you in your half yearly statement. Please refer to the KIID for further information.

• From 3 January 2018, a key piece of European legislation called MiFID II applies to financial services that are regulated in the USA. Part of the MiFID II legislation requires us to provide you with the most recent version of a ‘Costs and Charges Disclosure Document’ before you make any investment in to your chosen portfolio within the World Selection ISA.
• When you telephone or place a deal on-line you will be asked to confirm that you have read the appropriate Costs and Charges Disclosure Document before we can proceed with your investment instruction.
• The Costs and Charges Disclosure Document provides you with a generic example of the costs and charges associated with your Account (both the product, service and ancillary costs) in a percentage and monetary amount. There is also an illustration of the potential cumulative effect of costs on the return of your investment over time.
• Please note the illustrations in each Costs and Charges Disclosure Document are based on assumed growth rates and are not reliable indicators of future performance. Please be aware that you may not get back what you originally invested.