Legal & General announces continued growth for with profits customers
15 Feb 2018
Legal & General today announced another year of good growth on the assets held for its with profits customers with a return of 8.1% (before tax) for the 12 months to 31 December 2017.
The company added bonuses worth £319 million to its with profits policies last year.
Long-term returns continue to exceed inflation
Over 25 years the assets held on behalf of Legal & General’s with profits customers have returned 8.3% per annum before tax and over 10 years the annual return is 6.3% before tax. This has exceeded the average inflation rate of 2.8% over the same periods based on the UK Retail Prices Index. It has also exceeded the return on an average balanced managed fund based on a single premium investment.
Commenting on our 2017 with profits performance, Jackie Noakes, Managing Director Savings, Legal & General Assurance Society said; "Our with profits customers will benefit from another year of good investment returns for 2017 of 8.1%. This demonstrates the benefits for our existing customers of investing in a fund with a broad range of assets. It also means that our with profits customers have continued to see steady growth on their investments over the long-term, in excess of inflation."
The fund continues to maintain a broad mix of assets, similar to the asset allocation of previous years.
Our with profits customers will benefit from another year of good investment returns for 2017 of 8.1%. This demonstrates the benefits for our existing customers of investing in a fund with a broad range of assets.
Jackie Noakes, Managing Director Savings, Legal & General Assurance Society
NOTES TO EDITORS
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
The return generated in 2017 is on total assets backing with profits policies and is stated pre-tax and charges. Returns generated for the assets underlying individual products may differ from this value.
- Past performance is not a guide to future performance.
- The value of investments may fall as well as rise and investors may get back less than the amount originally invested.