Legal & General investment to refund ISA charges

Legal & General (L&G) has announced it will, subject to certain conditions, refund the 2005 annual management charges for lump sum investments of at least £3,000 into any Legal & General Index-Tracking ISA before May 13th.

This offer applies to all lump sum Direct Customers investing £3,000 or more into a L&G Index-Tracking ISA via the internet on L&G's web site, telephoning the L&G Direct call centre or responding to a L&G newspaper advertisement or mail shot between January 1st and May 13th 2005, provided the investment is held until December 2005.

Claire Stracey, retail investments marketing director, said: "We are offering a value for money Index-Tracking ISA that's hard to beat and builds on our success as the UK's number one unit trust based ISA provider.

"Our normal Index-Tracking ISA terms continue to apply to both monthly and lump sum investments."

L&G is a leading provider of unit trust based ISAs (Source IMA - Total funds invested in ISAs).

The company has a range of eight Index-Tracking unit trusts. Annual management charges currently range between 0.5 per cent and 1.0 per cent depending on the Index-Tracking unit trust selected for investment.

The value of an ISA investment (and the level of income received from it) can go down as well as up and there is no guarantee that the original amount invested will be returned.