Collectives

SICAV (UCITS compliant)

L&G Global High Yield Bond Fund

I-Class EUR (Hedged) Accumulation

ISINLU1003760755

Price95.44c12 Oct 2023

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$973.0m
Base currencyUSD
Fund launch date11 May 2015
DomicileLuxembourg
Share class launch27 Nov 2017
Modified duration3.94 years
Gross redemption yield (unhedged)11.53%
As at 31 Aug 2023

Benchmark

ICE BofA BB-B Global High Yield Non-Financial 2% Constrained Total Return Index (Hedged to USD)

Costs

Initial charge0.00%
Ongoing charges figure0.59%
Dilution adjustment0.794% - round trip
Swing factor0.397%

Performance

Performance for the I EUR (Hedged) Acc unit class in EUR, launched on 27 November 2017. Source: Lipper. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. The tables and charts above shows the fund's performance as the percentage loss or gain per year over the last 10 years.
Share class launch date:27 Nov 2017
Benchmark:ICE BofA BB-B Glb HY exFN Constr TR EURH
Share class launch date:27 Nov 2017
Benchmark:ICE BofA BB-B Glb HY exFN Constr TR EURH
    Share class launch date:27 Nov 2017
    Benchmark:ICE BofA BB-B Glb HY exFN Constr TR EURH

    Performance scenarios

    The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.
    What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
    The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product with input from the over the last 10 years. Markets could develop very differently in the future.

    Example investment:10,000 EUR

    Scenarios1 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 costs6,020EUR7,490EUR
    Average return each year (%)-39.79EUR-5.62EUR
    Unfavourable scenario
    What you might get back after costs7,980EUR8,920EUR
    Average return each year (%)-20.18EUR-2.27EUR
    Moderate scenario
    What you might get back after costs10,190EUR11,940EUR
    Average return each year (%)1.90EUR3.61EUR
    Favourable scenario
    What you might get back after costs12,600EUR15,450EUR
    Average return each year (%)25.98EUR9.09EUR

    Portfolio breakdown

    As at 31 Aug 2023

    Top 10 issuers11.8%
    Rest of portfolio88.2%
    No. of issuers452

    Top 10 issuers (%)

    ARD Holdings1.6
    Ford Motor Co1.6
    Charter Communications1.5
    Vital Energy1.5
    FJ International Invest1.2
    Pitney Bowes1.0
    Pinnacle Topco0.9
    Carnival0.8
    INEOS0.8
    Telephone and Data Systems0.8

    Currency (%)

    USD
    		73.8
    EUR
    		18.2
    GBP
    		7.8
    This is the currency breakdown before allowing for any hedging the fund may use. We aim to hedge the portfolio 100% back to the base currency.

    All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Fund managers

    Martin Reeves headshot

    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

    SFDR Product Summary (Italian)

    LGIME PAI entity report

    Environmental characteristics
    Social characteristics

    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.

    Literature

    Prices

    Pricing information

    Price basisSingle swing
    Price time16:00 CET
    CurrencyEUR
    Monthly price history

    Download full price history

    Codes and dealing

    Codes

    ISINLU1003760755
    SEDOL-
    BloombergLGGHIEH LX
    MEX-

    Dealing information

    Valuation frequencyDaily, 16:00 CET
    Dealing frequencyEach Business Day
    Settlement periodT+3
    Administrator/CustodianNorthern Trust

    Country registration

    This share class is registered for sale in the following countries:

    Denmark
    Finland
    Germany
    Ireland
    Italy
    Luxembourg
    Netherlands
    Norway
    Spain
    Sweden
    Switzerland
    United Kingdom

    For valuations and account queries contact:

    Legal & General ICAV
    Northern Trust International Fund Administration Services (Ireland) Limited
    City East Plaza - Block A
    Towlerton
    Ballysimon Road
    Limerick
    Ireland
    V94 X2N9
    Fax: +353 1 434 5293
    Telephone: +353 1 434 5080
    Email: [email protected]

    Legal & General SICAV
    Northern Trust Global Services SE
    10 Rue du Château d'Eau
    L-3364 Leudelange
    Grand-Duché de Luxembourg
    Fax: +352 28 294 454
    Telephone: +352 28 294 123
    Email: [email protected]

    For Facilities agent services contact:

    FE fundinfo
    Email: [email protected]

    Important information

    This information is intended for investment professionals only and is for information purposes only. It should not be distributed without our permission.

    No investment decisions should be made without first reviewing the key information document and prospectus (and any supplements thereto) of the relevant product which includes information on certain risks associated with an investment.

    Unless otherwise agreed in writing, the Information on this website (a) is for information purposes only and we are not soliciting any action based on it, and (b) is not a recommendation to buy or sell securities or pursue a particular investment strategy; and (c) is not investment, legal, regulatory or tax advice. Any trading or investment decisions taken by you should be based on your own analysis and judgment (and/or that of your professional advisers) and not in reliance on us or the Information.

    This information is only directed at investors resident in jurisdictions where each fund is registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

    All information detailed on this website is current at the time of publication and may be changed in the future.

    Following the imposition of sanctions on Russian securities and assets being removed from indices the market has been effectively frozen for foreign investors and all equity positions have been marked to zero in line with LGIM’s fair value pricing policy. Regardless of being priced at zero LGIM funds may still own these securities and any value realised in the future will be for the sole benefit of the relevant fund. LGIM will seek to divest from such securities at such a time that market conditions allow consistent with our fiduciary duties and applicable sanctions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.

    Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data.

    Issuer

    Issued by LGIM Managers (Europe) Limited as management company for this fund. Registered in Ireland No. 609677. Registered Office: 33/34 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Authorised and Regulated by the Central Bank of Ireland No. C173733.

    Legal & General Investment Management Limited has been appointed as the discretionary investment manager for these Funds and is Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised and regulated by the Financial Conduct Authority, No. 119272.

    Index disclaimer

    Source ICE Data Indices, LLC (“ICE DATA”), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates nor their respective third party suppliers shall be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and your use is at your own risk. ICE data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend Legal & General Investment Management (Holdings) Limited or its affiliates, or any of their products or services.