INVESTMENTS held by a Bury friendly society have grown by nearly 16 per cent, new figures have shown.

Healthy Investments, the mutually-owned savings and investments outfit, has seen their assets total swell to £176.2m.

And members invested a further £12m in their products during the last year, their accounts report.

Their largest investment fund, Ethical-With-Profits, grew by 13.2 per cent during 2019.

But the Manchester Road firm is being cautious, given the economic outlook, over bonus payouts.

Peter Green, chief executive, said: "Rather than declaring a bonus now, after much deliberation we have decided to defer the decision on this year’s reversionary bonus until stability returns to the markets and we have a clearer picture of the economic outlook.

“We hope then to announce a bonus that enables members to benefit from the society’s strong performance last year while also protecting the long-term security of their investments during the uncertain times ahead.

“The decision to defer declaring bonuses for 2019 was not taken lightly but is in the best interests of members and aligned with the regulatory expectations of the Prudential Regulation Authority around the distribution of profits. Retaining a strong financial position will enable us to deliver the best overall outcome for members.”

Their largest investment fund, Ethical-With-Profits, grew by 13.2 per cent during 2019.

Bosses say though that, in the meantime, they will continue to pay an “interim” bonus to members who withdraw money from their investments during the year.

Senior figures believe that even with the "market turmoil" experienced in 2020, the society has not needed to reduce the value of the funds of any members wishing to withdraw money invested before the end of 2019.

Steven Spilsbury, company chairman, added: "Despite unprecedented times the society remains well placed to deliver on our long-term business plan.

"We remain well-positioned in our chosen marketplace to continue to deliver growth and maintain strong service levels to our members, and we will make every effort to see that our members are rewarded.”