Legal & General launches Accelerated Growth

Mon, 16 May 2005

Legal &General is launching the next plan in a series of capital protected, stockmarket-linked investment plan.

The Accelerated Growth Investment Plan 2 will be available for a period of seven weeks, starting today.

It will offer investors 130 per cent of any capital growth in the FTSE 100 Index, as well as capital protection at the end of the fixed term of six years.

Growth is measured using the initial level of the FTSE 100 Index on July 6th 2005, and the average level of the Index in the last 12 months of the investment, from July 6th 2010 to July 6th 2011.

Whilst capital is protected at maturity, it is not guaranteed, Moneyextra reports.

In order to provide the capital protection and stated return the money is invested with high quality financial institutions with at least an A financial strength rating, considered financially secure by their nature.

In the event that any of them default on their payment, investors will not get back all of their original investment or the stated return.

Minimum direct share investment is £500 - the maximum investment for Maxi ISAs being £7,000 and for Mini stocks and shares ISAs £4,000 for the current tax year.

The investment must be held for the full six years to benefit from the returns stated. Investors run the risk of getting back less than their original investment if they cash in before the maturity date.

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