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Nationwide to offer Legal & General ethical trust
Thursday, 24 Jan 2008 08:44
Nationwide Building Society is to offer an ethical trust from Legal & General, as well as the insurer's new protection and investment products.
The Ethical Trust allows consumers to invest in a portfolio of FTSE 350 companies that meet ethical and environmental criteria – avoiding practices such as animal testing, arms manufacture, tobacco and gambling.
Investments can be opened with £20.
Since December 2002 the trust has returned growth of 99.28 per cent.
Nationwide director of insurance and investments, Robin Bailey, said: "Our new link with Legal & General enables us to respond to customers' requests for an ethical fund and to launch innovative new policies like the Family Life Insurance Plan to protect young families.
"In addition to new policies to protect customers and their families, Nationwide will continue to make investments accessible and simple with a £20 minimum investment, no initial charges, single unit pricing and a range of funds designed for people with differing attitudes to risk."
Nationwide is also to offer Legal & General's Capital Guaranteed Multi-Index Equity Bond, which guarantees the return of original capital and a return of at least ten per cent if held to maturity.
Other new products on offer include the Family Life Insurance Plan, life cover, and critical illness cover.