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Scottish Legal Life sets £2,000 minimum for mutuality bond

Scottish Legal Life is signal ling its commitment to mutuality by launching a mutual investment bond.

The bond has an introductory offer of 1 per cent inc rea sed allocation until February 28, boosting the rate to 97 per cent on investments of less than £5,000.

The introductory rate inc reases to 98 per cent for inv estments of £5,001 to £9,999, 99 per cent for £10,000 to £49,999 and 100 per cent for investments above £50,000.

Minimum inv est ment is just £2,000. The bond has no bid/offer spread and an annual charge of 1 per cent. Investors can choose bet ween a unitised with-profits or managed fund.

Marketing manager Jamie Nicoll says: “We remain committed to mutuality and are delighted to be launching our new mutual investment bond. The bond offers a range of benefits including a regular withdrawal option, a choice of investment funds, plus the flexibility to switch between funds to maximise returns.”

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