Legal & General Investments doubles retail unit trust sales
Legal & General Investments, the retail unit trust investment arm of Legal & General, has produced a record rise in sales in the first quarter of this year with more than £1 billion invested in retail funds.
Total retail fund investment is up 92 per cent in the first quarter of 2010* while ISA sales are up 51 per cent compared with the same period last year. The top selling retail fund is the Legal & General Dynamic Bond Trust and the top selling fund in the ISA sector remains the Legal & General UK Index Trust.
Simon Ellis, Managing Director at Legal & General Investments, said: "Our retail sales have been boosted by improved investor confidence as markets recovered and strong inflows in our strategic bond offering, Dynamic Bond Trust, which last month reached its third anniversary since launch (April 2007). In the ISA sector the increase in ISA allowances for investors over 50, which came into effect in October and the potential for higher returns from the stock market, have revived the attractiveness of investing in a stocks and shares ISA with retail investors."
Simon commented; "This acceleration in our sales reflects the market's growing recognition of Legal & General Investments as an investment brand, across both our index and actively managed funds."