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L&G updates growth investment plus plan

Legal & General’s latest tranche of its growth investment plan plus will provide investors with 125 per cent of any capital growth in the FTSE 100 Index over a six year term.

It is set to mature on April 18, 2013 and will deliver capital protection at maturity.

Growth investment plan plus 7 will be open for investment for an 8-week period from February 19 to April 13, 2007.

The plan also includes an early payment, or kick out feature, meaning if the FTSE 100 Index grows strongly, the investment could close early. This will occur if the FTSE 100 Index grows at 15 per cent or more at the third anniversary.

The plan pays a commission to advisers of 3 per cent of the sum invested – with no commission on switches out of existing L&G products.

L&G sales director, protected capital products Jamie Vale says: “We believe that raising the potential return on our growth investment plan plus series should prove attractive with investors who want the opportunity to capitalise on any future growth in UK FTSE 100 Index equity exposure but also place a high value on capital preservation.

“This is often a key factor for investors when considering transferring from single company PEP plans, perhaps to achieve a broader asset mix, or who may be seeking to protect an existing PEP or ISA from a fall in the UK equity values.”

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