L&G Euro Corporate Bond Fund
SICAV (UCITS compliant)
L&G Euro Corporate Bond Fund
I-Class EUR Accumulation
ISINLU0984223668
Price
ISINLU0984223668
Price
Fund aim
The objective of the Fund is to provide long term return consisting of a combination of capital growth and income. 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 variety of Euro denominated fixed interest instruments such as corporate bonds, other fixed or floating-rate debt securities and short-term debt securities. These may include asset-backed securities such as mortgage-backed securities (residential & commercial), convertible securities and contingent convertible debt securities.
Fund snapshot
- What does it invest in? Invests predominantly in fixed income securities including corporate bonds and other debt instruments, issued globally and denominated predominantly in Euros, but also in other currencies.
- How does it invest? Actively managed, investing primarily in fixed income securities with an investment grade (lower risk) credit rating. May also invest in debt with a sub-investment grade (higher risk) credit rating or unrated bonds, as well as 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 | €57.5m |
Base currency | EUR |
Fund launch date | 25 Nov 2013 |
Domicile | Luxembourg |
Share class launch | 7 May 2014 |
Modified duration | 4.56 years |
Gross redemption yield (unhedged) | 3.88% |
Benchmark
Markit iBoxx Euro Corporates Total Return Index
Costs
Initial charge | 0.00% |
Ongoing charges figure | 0.36% |
Dilution adjustment | 0.442% - round trip |
Performance
Performance scenarios
Example investment:10,000 EUR
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 | 7,870EUR | 8,170EUR |
Average return each year (%) | -21.32 | -3.95 | |
Unfavourable scenario | What you might get back after costs | 8,520EUR | 9,360EUR |
Average return each year (%) | -14.83 | -1.31 | |
Moderate scenario | What you might get back after costs | 10,230EUR | 11,740EUR |
Average return each year (%) | 2.26 | 3.26 | |
Favourable scenario | What you might get back after costs | 11,000EUR | 13,260EUR |
Average return each year (%) | 10.01 | 5.80 |
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 | 20.2% |
---|---|
Rest of portfolio | 79.8% |
No. of issuers | 155 |
---|
Top 10 issuers (%)
Credit Mutuel | 3.5 |
Federal Republic of Germany | 3.3 |
UBS Group | 3.0 |
Verizon Communications | 2.3 |
Jyske Bank | 1.8 |
Mizuho Financial Group | 1.3 |
Motability Operations Group | 1.3 |
BNP Paribas | 1.3 |
Nordea Bank Abp | 1.2 |
JPMorgan Chase & Co | 1.2 |
Currency (%)
EUR | 98.2 |
GBP | 1.5 |
USD | 0.3 |
Top 10 issuers | 20.2% |
---|---|
Rest of portfolio | 79.8% |
No. of issuers | 155 |
---|
Top 10 issuers (%)
Credit Mutuel | 3.5 |
Federal Republic of Germany | 3.3 |
UBS Group | 3.0 |
Verizon Communications | 2.3 |
Jyske Bank | 1.8 |
Mizuho Financial Group | 1.3 |
Motability Operations Group | 1.3 |
BNP Paribas | 1.3 |
Nordea Bank Abp | 1.2 |
JPMorgan Chase & Co | 1.2 |
Currency (%)
EUR | 98.2 |
GBP | 1.5 |
USD | 0.3 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
AAA | 4.2 | 0.3 | 3.9 | |
AA | 10.5 | 9.9 | 0.7 | |
A | 45.2 | 41.6 | 3.7 | |
BBB | 35.7 | 48.0 | -12.3 | |
BB | 1.9 | 0.1 | 1.8 | |
CCC | 0.1 | - | 0.1 | |
NR | 1.9 | 0.2 | 1.7 | |
Cash | 0.4 | - | 0.4 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Banks | 35.5 | 30.9 | 4.6 | |
Sovereign | 3.3 | - | 3.3 | |
Financial Services | 5.4 | 2.9 | 2.5 | |
Consumer Services | 5.6 | 4.1 | 1.6 | |
Telecommunications | 5.8 | 5.0 | 0.8 | |
Covered | 0.7 | - | 0.7 | |
Cash and Equivalents | 0.4 | - | 0.4 | |
Real Estate | 5.3 | 5.0 | 0.3 | |
Utilities | 11.4 | 11.4 | 0.1 | |
Unknown | -0.1 | - | -0.1 | |
Insurance | 3.6 | 4.1 | -0.5 | |
Oil & Gas | 2.9 | 3.7 | -0.7 | |
Basic Materials | 0.3 | 2.7 | -2.3 | |
Technology | - | 2.4 | -2.4 | |
Health Care | 3.1 | 5.5 | -2.4 | |
Industrials | 7.1 | 9.6 | -2.5 | |
Consumer Goods | 9.4 | 12.7 | -3.3 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Marc Rovers
Marc is head of the Euro credit portfolio management team. He joined LGIM in May 2012 as a portfolio manager in the Pan European Credit team. Marc previously spent 12 years at Blackrock, first as a senior portfolio manager within Philips Investment Management in Eindhoven and then as Director, Investment Manager in London, where he was responsible for the non-financials management of investment grade portfolios and was a portfolio manager for two Asian credit portfolios. Marc started in the industry in 1995 as a portfolio manager at ABP investments (now APG). He graduated from Tilburg University, Netherlands with an MSc in economics and is a Certified European Financial Analyst (CEFA).
Lan Wu
Lan is a euro credit portfolio manager in the Pan European Credit team, having joined LGIM in September 2010 as assistant to the fund manager. Previously Lan was at Hedge Funds Investment Management where she worked as a part-time research analyst in their Investment team. Prior to this, Lan completed internships with China Lion Securities in China, in their investment banking department, and with UBS, London where she worked in their fixed income, currencies and commodities division. Lan holds a MMath in mathematics and statistics from Oxford University as well as an MSc in finance at Imperial College London. Lan is a CFA charterholder.
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 | EUR |
Codes and dealing
Codes
ISIN | LU0984223668 |
SEDOL | - |
Bloomberg | LGECBIA 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: