Multi Manager unit trusts - The basics

• The Multi Manager Unit Trust allows you to invest in several funds at the same time through one simple investment. A professional fund manager selects, monitors and changes the underlying funds based on set criteria, most notably the investment quality and investment objective of the providers.
• There are three investments in the Legal & General Multi Manager Unit Trust range, each with its own investment objective: Multi Manager Growth Trust, Multi Manager Income Trust and Multi Manager Balanced Trust.
• Our managers have a large database of funds which are under continuous review. This leads them to personally evaluate the investment management skills of a number of funds in order to make investment decisions.
• Each Multi Manager unit trust holds a mix of funds covering many different types of asset, industry sectors and markets. The funds may also be sourced from more than one provider. For example, our Multi Manager unit trust may invest in funds managed by well known and respected companies such as Invesco Perpetual, New Star, M&G and others, as well as in our own funds.
• To enhance the potential performance of our Multi Manager unit trusts even further, we have introduced a fund management performance fee (please refer to our key information document).
• Once you have invested with us you can manage your investments online, anytime.
• Unit trusts are designed as medium to long term investments of, ideally, at least five years.
• Both capital and income values may fall as well as rise and are not guaranteed. You may not get back the money you invested.
• Refer to risk factors for the other risks associated with this product.

Your options

You may want to consider investing directly into a unit trust if you have already used up your ISA allowance for this tax year. Although unit trusts do not offer the same tax advantages as ISAs, there are no investment limits although you can only invest up to £50,000 online.

The three funds in the Legal & General Multi Manager Unit Trust range are:

• Multi Manager Growth Unit Trust: For investors looking for the potential to achieve outright capital growth. The Multi Manager Growth Unit Trust is benchmarked against the IMA Active Managed Sector, currently averaged across 74 similar funds. Any profit is automatically reinvested for maximum long term potential.

• Multi Manager Income Unit Trust: For investors who wish to receive an income. The Multi Manager Income Trust is benchmarked against the IMA Cautious Managed Sector, currently averaged across 99 similar funds. The original capital remains invested for the long term and dividends can be paid to you quarterly.

• Multi Manager Balanced Unit Trust: For investors looking for a balanced mix of investments to provide long term capital growth potential. The Multi Manager Balanced Trust is benchmarked against the IMA Balanced Managed Sector, currently averaged across 138 similar funds.

• You can invest a minimum lump sum of £500 or a regular minimum monthly contribution of £50 per month.
• The Multi Manager unit trusts table clearly lists the management charges excluding performance fee for these unit trusts.

The charges

• There are no exit fees for Legal & General Multi Manager unit trusts.
• If you apply for a Multi Manager unit trust direct from Legal & General, we discount our initial charge from 5% to 3%.
• In addition to the charges below, there is also a performance related fee on these Multi Manager unit trusts. Please see the key information document for full details.

* these expenses include auditors, trustees, custodian and regulator fees.

Risk factors

All investments carry an element of risk. Please bear in mind that:

• Unit trusts are designed as medium to long term investments of, ideally, at least five years.
• Both capital and income values may fall as well as rise and are not guaranteed. You may not get back the money you invested.
• Each Multi Manager unit trust has its own aims and risk factors. These are detailed in the Multi Manager Key Information document (including Simplified Prospectus), which can be downloaded from the right-hand side menu. Before you decide to invest, you must read this document.
• If you choose a trust which invests overseas, changes in exchange rates between currencies may cause the value of your investment and the level of income to rise and fall.