Transaction costs and taxes

The table below gives details of historic transaction costs and taxes for each fund. It is for information purposes only.

You need to be aware that comparing transaction costs for a range of funds may give a false impression of the relative costs of investing in them for the following reasons:

  • Transaction costs do not necessarily reduce returns. The net impact of dealing is the combination of the effectiveness of the manager’s investment decisions in improving returns and the associated costs of investment.
  • Historic transaction costs are not an effective indicator of the impact of future transaction costs on performance.
  • Transaction costs for buying and selling investments due to other investors joining or leaving the fund may be recovered from those investors, or may be accounted for by the spread. For further information see Understanding unit prices.
  • Transaction costs vary from country to country.
  • Transaction costs vary depending on the types of asset a fund invests in.
  • Transaction costs are not predictable as they depend on the manager’s investment decisions.
  1. Figures quoted in the latest annual manager’s report published.
  2. This table shows the average stockbroker fees and transfer taxes that the Fund incurred in buying and selling its assets over the last three financial years. Transfer taxes include stamp duty tax payable on equity purchases in the UK. We take these costs from the Fund’s capital (its assets). Where the Fund invests in shares, it pays these costs on each transaction.
  3. This fund invests solely in the Legal & General UK Property Fund and these transaction costs and taxes represent those incurred by the master fund.

For more information on transaction costs, please see the fund’s Prospectus. You can download a copy of the prospectus from our 'Key Investor Information documents' page, or contact us to get a copy free of charge. The ‘Prospectus’ is only available in English.