Legal & General introduces new Portfolio Bond

In the complicated world of investment not all customers are the same and one size certainly does not fit all! People have different investment needs, expectations and attitudes to risk, which is why Legal & General is launching an improved onshore investment bond - the new Portfolio Bond.

From 21 July 2008 Legal & General are introducing some new charging options, new features and new fund options, as well as keeping the best existing ones.

The new Portfolio Bond will provide IFAs with a wider range of choices to construct an investment portfolio most suited to their clients needs. Available to all IFAs, both direct to Legal & General and on platform through Cofunds, the new Portfolio Bond now features:

A choice of three charging options - Standard, Initial Charge and High Allocation;
More fund choice; now offering over 310 funds from over 50 leading fund managers;
Free switching between funds;
Facility to invest in up to 50 funds within the bond (also now available to existing bond investments);
Choice of cautious managed funds, including our 5 star rated Distribution Funds (source: Morningstar Workstation) and our Protected UK Growth Fund;
Choice of tax efficient regular withdrawal options;
Natural income from our range of three Distribution Funds as well as, Property, Managed Bond and High Income Funds;
Choice of trust options.

Legal & General's Andy McKinnon, Director, Individual Wealth Products says "Bonds are a key financial planning tool. Our new charging options let IFAs give their customers more choice both direct to Legal & General and via the Cofunds platform, all with Legal & General's financial strength*. We've extended our fund choice and customers can now invest in up to 50 funds within the bond and switch between funds free of charge at any time, and without any liability to CGT, since they are written within an investment bond wrapper. "

"Legal & General's Portfolio Bond has changed very little since its introduction in 2005, but we have listened to our advisers, who have asked for investment wrappers with more choice and flexibility. I believe that the new Portfolio Bond offers investors a strong and compelling investment proposition to suit many needs, and goes a long way to reinforcing advisers confidence that investment bonds still play an important part in the field of personal investment."

Andy Fail, Head of Product for Cofunds adds "We are delighted to offer the new and improved Legal & General Portfolio Bond on Cofunds. This competitive product gives advisers a wider investment choice and access to a range of charging structures to suit their client's individual needs."