The money will be invested in the Legal & General FTSE All Share tracker fund. The objective of this fund is to provide growth by tracking the performance of the FTSE All-Share Index. The fund will invest almost entirely in company shares and the investments will closely match those that make up the Index.
The Index consists of a broad spread of UK company shares and may use derivatives (contracts which have a value linked to the price of another asset) for the following purposes:
To help with efficient day to day management
To reduce some of the risks of the market