L&G Global High Yield Bond Fund
SICAV (UCITS compliant)
L&G Global High Yield Bond Fund
I-Class GBP (Hedged) Accumulation
ISINLU1003760672
Price
ISINLU1003760672
Price
Fund aim
The objective of the Fund is to provide a combination of capital growth and income over the long term. The Fund aims to deliver this objective while maintaining a lower weighted average carbon intensity than the Benchmark Index.
The Fund is actively managed and seeks to achieve this objective by investing at least 80% of its assets in a broad range of fixed income securities from around the world.
Fund snapshot
- What does it invest in? Invests predominantly in sub-investment grade (higher risk) fixed income securities including corporate bonds and other debt instruments, issued in a variety of currencies in countries worldwide.
- How does it invest? Actively managed, investing in fixed income securities that have a sub-investment grade (higher risk) credit rating. May also invest in unrated bonds, other types of securities and derivatives.
- Does it promote sustainability characteristics? The Fund promotes a range of environmental and social characteristics. Further information on how such characteristics are met by the Fund can be found in the Supplement.
Fund facts
Fund size | $828.1m |
Base currency | USD |
Fund launch date | 11 May 2015 |
Domicile | Luxembourg |
Share class launch | 30 Aug 2018 |
Modified duration | 3.57 years |
Gross redemption yield (unhedged) | 11.02% |
Benchmark
ICE BofA BB-B Global High Yield Non-Financial 2% Constrained Total Return Index (Hedged to USD)
Costs
Initial charge | 0.00% |
Ongoing charges figure | 0.59% |
Dilution adjustment | 1% - round trip |
Performance
Performance scenarios
Example investment:10,000 GBP
Scenarios | 1 year | (Recommended holding period) 5 years | |
---|---|---|---|
Minimum | There is no minimum guaranteed return. You could lose some or all of your investment. | ||
Stress scenario | What you might get back after costs | 5,950GBP | 7,620GBP |
Average return each year (%) | -40.47 | -5.29 | |
Unfavourable scenario | What you might get back after costs | 8,070GBP | 9,400GBP |
Average return each year (%) | -19.35 | -1.24 | |
Moderate scenario | What you might get back after costs | 10,320GBP | 12,460GBP |
Average return each year (%) | 3.16 | 4.50 | |
Favourable scenario | What you might get back after costs | 12,780GBP | 14,480GBP |
Average return each year (%) | 27.76 | 7.68 |
There is no minimum guaranteed return. You could lose some or all of your investment.
Portfolio breakdown
As at 29 Feb 2024
Top 10 issuers | 11.4% |
---|---|
Rest of portfolio | 88.6% |
No. of issuers | 454 |
---|
Top 10 issuers (%)
ARD Holdings | 1.7 |
INEOS | 1.3 |
FJ International Invest | 1.2 |
Pitney Bowes | 1.2 |
Next Alt Sarl | 1.0 |
Vmed O2 UK | 1.0 |
CFC Group 2017 | 1.0 |
Kosmos Energy | 1.0 |
EchoStar | 0.9 |
PM General Purchaser LLC | 0.9 |
Currency (%)
USD | 73.3 |
EUR | 21.0 |
GBP | 5.8 |
Other | 0.0 |
Top 10 issuers | 11.4% |
---|---|
Rest of portfolio | 88.6% |
No. of issuers | 454 |
---|
Top 10 issuers (%)
ARD Holdings | 1.7 |
INEOS | 1.3 |
FJ International Invest | 1.2 |
Pitney Bowes | 1.2 |
Next Alt Sarl | 1.0 |
Vmed O2 UK | 1.0 |
CFC Group 2017 | 1.0 |
Kosmos Energy | 1.0 |
EchoStar | 0.9 |
PM General Purchaser LLC | 0.9 |
Currency (%)
USD | 73.3 |
EUR | 21.0 |
GBP | 5.8 |
Other | 0.0 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
BBB | 1.3 | - | 1.3 | |
BB | 40.6 | 59.4 | -18.8 | |
B | 46.4 | 40.3 | 6.1 | |
CCC | 6.8 | - | 6.8 | |
NR | 1.3 | - | 1.3 | |
Cash | 0.3 | 0.3 | 0.0 | |
Split rated | 3.3 | - | 3.3 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Other | 43.3 | 40.1 | 3.2 | |
Media | 6.4 | 3.3 | 3.0 | |
Homebuilders/materials | 7.5 | 4.6 | 2.9 | |
Manufacturing | 4.0 | 1.5 | 2.5 | |
Retailers | 5.7 | 4.0 | 1.7 | |
Chemicals | 4.2 | 2.7 | 1.5 | |
Services | 7.4 | 6.0 | 1.3 | |
Technology | 3.9 | 4.4 | -0.6 | |
Financials | 1.6 | 2.6 | -1.0 | |
Telecommunications | 6.8 | 7.9 | -1.1 | |
Transportation | 2.1 | 3.3 | -1.2 | |
Healthcare | 5.5 | 7.8 | -2.3 | |
Utilities | 1.5 | 5.7 | -4.2 | |
Cash | 0.3 | 6.0 | -5.7 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Martin Reeves
Martin Reeves is Head of Global High Yield. Prior to joining LGIM in 2011, Martin ran Credit Research at AllianceBernstein where he had worked since 1998. Prior to Alliance Bernstein Martin was Head of US High Yield Research at UBK Asset Management and a Chartered Accountant with Ernst & Young. Martin holds an MA in Economics from Cambridge University, St Catharine's College.
Sustainability
SFDR categorisation
Article 8No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by the Fund.
Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by the Fund.
Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
The Fund seeks to implement LGIM’s Responsible Investment Framework which aims to provide a consistent and systematic approach to exclusions, refined criteria and thresholds for setting environmental and social characteristics with a defined terminology and approach to support the implementation of such characteristics across the financial products managed by LGIM.
The Responsible Investment Framework sets out the various types of investment strategies that LGIM’s financial products can follow and the responsible investing methodologies that explain how such investment strategies are defined and implemented.
The Fund follows the following sustainability-related investment strategy:
Literature
Document type
Prices
Pricing information
Price basis | Single swing |
Price time | 16:00 CET |
Currency | GBP |
Codes and dealing
Codes
ISIN | LU1003760672 |
SEDOL | - |
Bloomberg | LGHIGHA LX |
MEX | - |
Dealing information
Valuation frequency | Daily, 16:00 CET |
Dealing frequency | Each Business Day |
Settlement period | T+3 |
Administrator/Custodian | Northern Trust |
Country registration
This share class is registered for sale in the following countries: