L&G blames low interest rates as it quits UK retail structured products

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L&G heads for the exit

Just three months after Legal & General (L&G) denied it had plans to exit the UK retail structured products market, a spokesman at the financial services provider has confirmed it will no longer sell the products "because continuing low rates have made coupons unattractive to investors".

Industry sources say profit margins are likely to have been low because the cost of running a sales team and plan management service would have outweighed the benefits amid reported falling sales figures.

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