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Legal & General launches medium term investment plan

06 April 2005
Today, the first day of the new financial year, sees the launch of Legal & General's first Sandler product - a Medium Term Investment Plan (MTIP).

Available as an ISA and Unit Trust, the MTIP will invest via the Legal & General Distribution Trust, which always invests at least 60 per cent in corporate bonds, and the rest across equities and bonds.

The Sandler government initiative, launched in 2002 in the wake of the Sandler review of savings, intends to encourage more people to get saving - the minimum investment amount is just £20, either as a lump sum or a monthly premium.

Total annual expenses amount to 1.32 per cent, well below the stakeholder guideline ceiling of 1.5 per cent.

"We very much support the Government's initiative to increase the overall level of savings and we have developed the Medium Term Investment Plan for that segment of the public who have not previously invested and who we believe will find this type of product very appealing blending both equities and corporate bond investments," explained Claire Stracey, marketing director for retail investments.

The MTIP will be sold using the newly developed basic advice service, which consumers have rated very positively in tests during its development.

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