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L&G hopes guarantees will help sell last-minute Isas

Legal & General is offering two protected growth plans in an attempt to motivate investors into last-minute Isa season action.

The provider says it is hoping to attract investors who have been so far disenchanted by plunging stockmarkets by guaranteeing their initial capital will be protected if they keep money in the plan until October 31, 2008.

Minimum investment in both the protected index plan 2 and index growth and protection plan is set at £1,000.

In the protected index plan 2, investors benefit from any growth in the FTSE 100 up to a maximum of 55 per cent while the second plan offers investors an uncapped 70 per cent of any growth in the index.

Charges will be no more than 6 per cent initially and 0.5 per cent annually but could be lower depending on the performance of the markets. Commission is 3 per cent.

Retail investments marketing director Claire Stracey says: “Both plans have been designed for investors who may want to enter the stockmarket now but want some degree of capital protection from the equity volatility which currently prevails. Any investor who has not used their Isa allowance in the current tax year because of their disenchantment with the stockmarket now has two new options.”


Martin Currie goes for unique opportunity

MARTIN CURRIE MARTIN CURRIE EUROPEAN EQUITY FUND Type: Investment trust Aim: Growth by investing in a portfolio of European private equity funds and European direct equities Minimum investment: Lump sum £100,000 Maximum investment: £2m Investment split: European private equity funds 85%, European equities 15% Types of shares: Ordinary Isa link: No Pep transfers: No Redemption […]

Serious business

Product providers have another two months to update their critical-illness products to meet the revised ABI statement of best practice. This involves changes to the definitions of cancer and heart attack and allows early-stage prostate cancer to be excluded in response to advancements in medical treatments and screening techniques.The change to the cancer definition is […]

Investors out for the discount

Invesco Perpetual is extending its 2 per cent discount on all Isa investments and Pep/Isa transfers until April 5, including its monthly savings and phased investment options. It is also extending the discount to its corporate bond, global bond, monthly income plus and European high-yield funds for investments made outside an Isa. JP Morgan Fleming […]

The miles file

April is the cruellest month, wrote TS Eliot in The Wasteland. It will certainly be a difficult time for thousands of savers who sank their savings into a generation of stockmarket-linked bonds with tempting headline rates of return.Four such products, now called precipice bonds by our friends at the FSA, reach maturity next month. Barring […]


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