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L&G links portfolio plan to 30 UK blue-chip stocks

Legal & General is introducing a five-year capital-protected investment with growth linked to a portfolio of 30 stocks from the UK’s top 200 companies.
The protected portfolio III fund is available until April 12 and allows investors to take advantage of two years’ Isa allowance if the investment is received before the end of this tax year.
It is available as a maxi or mini Isa, share investment or Pep transfer. It can also be held in an Ssas or a Sipp.
If held to maturity in April 2007, the fund offers capital protection through loans to financial institutions although if these are defaulted on it can reduce the return.
At the end of the five-year term, the sum of the return of the 30 stocks is divided by 30 to calculate the portfolio’s return and then added to the fund. The investment in the stocks will be made on April 17.
Commission on the product is 3 per cent.
Retail investments director Simon Pistell says: “The concept of equity market exposure and capital security has proved extremely popular with investors. The portfolio range of products satisfy this requirement and we believe this third product will prove as popular as its predecessors.”


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