Legal & General products suffer from Lehman link

Legal & General has warned 2,300 investors that they could lose 20% of their capital after it was revealed that two of its structured products included Lehman Brothers in a mix of financials.

The insurer informed investors and advisers in December 2008 of problems with its FTSE-linked Protected Capital and Growth Plan Four, in which £21.3 million is invested, and its Accelerated Growth Investment Plan Two, which holds £12.3 million. The products used a sub-fund structure that invested in five A

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