The UK's Legal & General launched Protected Capital and Growth Plan 6 last month for PEP or ISA investors looking for tax-free growth on their capital. The plan will not be subject to income tax at the end of the six-year term.
The plan is a stock market-linked investment providing 100% capital protection at maturity. It pays the greater of a minimum of 21% capital growth or 50% of any FTSE 100 index growth at the end of the six-year term.
Jamie Vale, Legal & General's retail investments sales