Legal & General is launching two sector tracker funds this week to focus on the global technology an...
Legal & General is launching two sector tracker funds this week to focus on the global technology and healthcare and pharmaceutical sectors.
The funds will be called the Global Technology Index Trust and Global Health and Pharmaceuticals Index Trust.
There is no initial charge on the funds and there are no annual management fees or withdrawal fees until after April 2001. From this date there will be a 1% annual management fee as well as a withdrawal fee on unit trust investments of 3% in year one which goes down to 1% after year five. There are no withdrawal fees for Isa investments.
The manager of the Global Technology Index-Tracking Trust will be Andy Banks and the fund will track the Technology sector of the FTSE All World index, which covers around 175 of the world's largest technology companies.
The Global Health and Pharmaceuticals Index-Tracking Trust will also be managed by Banks and track the stocks that make up the healthcare and pharmaceuticals sectors of the FTSE All World index, covering around 90 companies.
Both funds are available as Isas with a minimum investment of £30 a month or £500 lump sum. There is a fixed price of 25p per unit for the offer period which runs until 21 November.
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