Collectives

SICAV (UCITS compliant)

L&G Euro Corporate Bond (Responsible Exclusions) Fund

I-Class EUR Accumulation

ISINLU2050551006

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 will seek to achieve its investment objective while maintaining a lower weighted average carbon intensity than the Benchmark Index and applying the exclusion criteria detailed in the Investment Policy.

The Fund is actively managed and seeks to achieve this objective by investing in a broad range of bonds and bond related instruments denominated in Euro, GBP and USD, with at least 70% to be invested in a portfolio of Euro denominated bonds, and 70% of the fund to be invested in corporate bonds.

The Fund will generate investment return whilst excluding companies on the Responsible Exclusions list. The exclusion criteria applied to generate this list is detailed in the investment policy.

Fund snapshot

  • What does it invest in? Invests in a broad range of bonds and bond-related instruments denominated in Euro, Sterling and US Dollar, with at least 70% invested in a portfolio of Euro denominated bonds. Invests at least 70% in corporate bonds.
  • 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 on a limited basis, as well as derivative instruments. Will exclude companies on the Responsible Exclusions list described on the fund's Key Investor Information Document.
  • 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€174.8m
Base currencyEUR
Fund launch date21 Oct 2019
DomicileLuxembourg
Share class launch24 Oct 2019
As at 31 Jan 2024

Benchmark

Markit iBoxx Euro Corporates Total Return Index

Costs

Initial charge0.00%
Ongoing charges figure0.36%
Dilution adjustment0.458% - round trip

Performance

Performance for the I EUR Acc unit class in EUR, launched on 24 October 2019. 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:24 Oct 2019
Benchmark:Markit iBoxx Euro Corporates TR
Share class launch date:24 Oct 2019
Benchmark:Markit iBoxx Euro Corporates TR
    Share class launch date:24 Oct 2019
    Benchmark:Markit iBoxx Euro Corporates TR

    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 costs8,320EUR8,230EUR
    Average return each year (%)-16.80EUR-3.82EUR
    Unfavourable scenario
    What you might get back after costs8,460EUR9,270EUR
    Average return each year (%)-15.42EUR-1.51EUR
    Moderate scenario
    What you might get back after costs10,180EUR11,750EUR
    Average return each year (%)1.79EUR3.27EUR
    Favourable scenario
    What you might get back after costs10,910EUR14,680EUR
    Average return each year (%)9.12EUR7.97EUR

    Portfolio breakdown

    As at 31 Jan 2024

    Top 10 issuers19.6%
    Rest of portfolio80.4%
    No. of issuers159

    Top 10 issuers (%)

    Federal Republic of Germany3.1
    Credit Mutuel2.8
    Verizon Communications2.4
    UBS Group2.3
    BNP Paribas2.0
    Jyske Bank1.5
    Morgan Stanley1.5
    Motability Operations Group1.4
    Stedin Holding1.4
    LVMH Moet Hennessy Louis Vuitton1.4

    Currency (%)

    EUR
    97.2
    USD
    1.4
    GBP
    1.4

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

    Fund managers

    Lan Wu headshot

    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.

    Marc Rovers headshot

    Marc Rovers

    Marc Rovers's award

    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).

    Sustainability

    SFDR categorisation

    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

    ISINLU2050551006
    SEDOLBKDYQ22
    BloombergLGECPIE LX
    MEX-

    Dealing information

    Valuation frequencyDaily, 16:00 CET
    Dealing frequencyDaily
    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