L&G Net Zero Short Dated Global Corporate Bond Fund
SICAV (UCITS compliant)
L&G Net Zero Short Dated Global Corporate Bond Fund
I-Class EUR (Hedged) Accumulation
ISINLU2561734927
Price
ISINLU2561734927
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 whilst investing in line with the Investment Manager’s Net Zero Framework. The Fund is actively managed and seeks to achieve this objective by investing in a broad range of bonds and bond-related instruments of which at least 80% will be denominated in USD, Euro and GBP.
Fund snapshot
- What does it invest in? Invests at least 70% in short dated fixed income securities, including bonds and other debt instruments, issued in a variety of currencies by companies and governments worldwide.
- How does it invest? Actively managed, investing in global portfolio of short dated fixed income securities with a focus Net Zero temperature goals along with carbon reduction targets compared to the benchmark. The fund will make use of derivatives for investment purposes or for efficient portfolio management.
- 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 | $221.8m |
Base currency | USD |
Fund launch date | 15 Feb 2023 |
Domicile | Luxembourg |
Share class launch | 15 Feb 2023 |
Modified duration | 3.09 years |
Gross redemption yield (unhedged) | 5.03% |
Benchmark
Bloomberg Global Corporates 1-5 years
Costs
Initial charge | 0.00% |
Ongoing charges figure | 0.38% |
Dilution adjustment | 0.232% - round trip |
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 | 7,910EUR | 7,630EUR |
Average return each year (%) | -20.86 | -5.26 | |
Unfavourable scenario | What you might get back after costs | 8,080EUR | 8,930EUR |
Average return each year (%) | -19.17 | -2.24 | |
Moderate scenario | What you might get back after costs | 10,200EUR | 11,400EUR |
Average return each year (%) | 2.04 | 2.66 | |
Favourable scenario | What you might get back after costs | 11,030EUR | 12,840EUR |
Average return each year (%) | 10.29 | 5.12 |
There is no minimum guaranteed return. You could lose some or all of your investment.
Portfolio breakdown
As at 31 Jan 2024
Top 10 issuers | 31.9% |
---|---|
Rest of portfolio | 68.1% |
No. of issuers | 145 |
---|
Top 10 issuers (%)
United States of America | 10.3 |
Bank of America | 3.1 |
JPMorgan Chase & Co | 2.7 |
Volkswagen | 2.6 |
Morgan Stanley | 2.5 |
United Kingdom | 2.3 |
Banco Santander | 2.2 |
UBS Group | 2.2 |
Citigroup | 2.2 |
AT&T | 1.8 |
Currency (%)
USD | 64.3 |
EUR | 20.4 |
GBP | 15.0 |
Other | 0.1 |
Top 10 issuers | 31.9% |
---|---|
Rest of portfolio | 68.1% |
No. of issuers | 145 |
---|
Top 10 issuers (%)
United States of America | 10.3 |
Bank of America | 3.1 |
JPMorgan Chase & Co | 2.7 |
Volkswagen | 2.6 |
Morgan Stanley | 2.5 |
United Kingdom | 2.3 |
Banco Santander | 2.2 |
UBS Group | 2.2 |
Citigroup | 2.2 |
AT&T | 1.8 |
Currency (%)
USD | 64.3 |
EUR | 20.4 |
GBP | 15.0 |
Other | 0.1 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
AAA | 0.1 | 0.8 | -0.7 | |
AA | 16.7 | 8.6 | 8.2 | |
A | 35.5 | 44.7 | -9.2 | |
BBB | 43.0 | 44.7 | -1.7 | |
BB | 3.1 | 0.0 | 3.1 | |
B | 0.1 | 0.0 | 0.1 | |
NR | 0.3 | 0.9 | -0.6 | |
Cash | 1.1 | 0.3 | 0.8 | |
Not Classified | - | 0.0 | 0.0 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Sovereign | 12.6 | 0.0 | 12.6 | |
ABS | 3.8 | 0.1 | 3.7 | |
Consumer Goods | 14.2 | 10.7 | 3.6 | |
Banks | 38.1 | 36.8 | 1.2 | |
Real Estate | 5.3 | 4.3 | 1.0 | |
Cash and Equivalents | 1.1 | 0.3 | 0.8 | |
Basic Materials | 2.0 | 2.0 | 0.0 | |
Unknown | - | 0.0 | 0.0 | |
Financial Services | 4.2 | 5.0 | -0.8 | |
Telecommunications | 2.2 | 3.1 | -0.9 | |
Health Care | 4.5 | 5.5 | -1.0 | |
Consumer Services | 4.0 | 5.2 | -1.2 | |
Technology | 3.3 | 4.6 | -1.3 | |
Insurance | 2.1 | 4.1 | -1.9 | |
Oil & Gas | 0.2 | 4.3 | -4.1 | |
Utilities | 1.8 | 6.0 | -4.1 | |
Industrials | 0.6 | 8.0 | -7.5 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Matthew Rees
Matthew was appointed Head of Global Bond Strategies in September 2019. Prior to this he was co-head of the Euro credit portfolio management team, responsible for Euro-benchmarked and absolute return funds. He joined LGIM in March 2009 as a senior research analyst responsible for covering financial institutions and joined the Euro credit portfolio management team in February 2011. Prior to this Matthew spent three years as a Partner at Banquo Credit Management (a multibillion euro absolute return investment manager) and four years at UBS as Head of Financial Institutions Ratings Advisory. Matthew has more than 20 years’ experience in financial services and graduated from the University of York with a BA (hons) in English. He qualified as a chartered accountant with Coopers & Lybrand in 1996.
Jonathan Curteis
Jonathan works within LGIM’s Global Bond Strategies team where he managers both benchmark and unconstrained portfolios. Jonathan joined LGIM in October 2014 from BNY Mellon where he was part of the Quantitative Trading Group. Jonathan holds a BA (hons) in International Business from the Strathclyde University, and completed a Master’s in investment management from the Cass Business School.
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 | 23:00 CET |
Currency | EUR |
Codes and dealing
Codes
ISIN | LU2561734927 |
SEDOL | BPBR9F2 |
Bloomberg | LGNETRY LX |
MEX | - |
Dealing information
Valuation frequency | Daily, 23:00 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: