LGIM Euro Corporate Bond Fund
ICVC (UK UCITS compliant)
LGIM Euro Corporate Bond Fund
A-Class EUR (Unhedged) Accumulation
ISINGB00B6CFP433
Price
ISINGB00B6CFP433
Price
Fund aim
The objective of the Fund is to provide capital growth and income above those of the iBoxx Euro Corporates Index (the "Benchmark Index”). The Fund aims to outperform the Benchmark Index over rolling three year periods after the deduction of all fees and expenses.
Fund snapshot
- What does it invest in? Invests in a variety of Euro denominated bonds issued by companies, governments or other entities, including asset backed securities.
- How does it invest? Actively managed, with discretion for the Manager to select bonds and other fixed income instruments in different geographies, sectors and currencies, although currency exposure to non-Euro securities will be partly or fully hedged back to Euro. May be concentrated at times, with exposure to a limited number of issuers.
Fund facts
Fund size | £151.3m |
Base currency | GBP |
Fund launch date | 1 Oct 2010 |
Domicile | UK |
Share class launch | 4 Jan 2011 |
Modified duration | 4.52 years |
Gross redemption yield (unhedged) | 3.95% |
Benchmark
iBoxx Euro Corporates Index
Costs
Initial charge | 0.00% |
Ongoing charges figure | 0.35% |
Dilution levy | 0.48% - round trip |
Performance
Portfolio breakdown
As at 29 Feb 2024
Top 10 issuers | 20.5% |
---|---|
Rest of portfolio | 79.5% |
No. of issuers | 146 |
---|
Top 10 issuers (%)
Federal Republic of Germany | 2.8 |
UBS Group | 2.8 |
Verizon Communications | 2.7 |
Credit Mutuel | 2.5 |
BNP Paribas | 2.0 |
Jyske Bank | 1.8 |
Morgan Stanley | 1.5 |
Booking Holdings | 1.5 |
JPMorgan Chase & Co | 1.5 |
Bank of America | 1.5 |
Currency (%)
EUR | 98.3 |
GBP | 1.6 |
USD | 0.1 |
Other | 0.0 |
Top 10 issuers | 20.5% |
---|---|
Rest of portfolio | 79.5% |
No. of issuers | 146 |
---|
Top 10 issuers (%)
Federal Republic of Germany | 2.8 |
UBS Group | 2.8 |
Verizon Communications | 2.7 |
Credit Mutuel | 2.5 |
BNP Paribas | 2.0 |
Jyske Bank | 1.8 |
Morgan Stanley | 1.5 |
Booking Holdings | 1.5 |
JPMorgan Chase & Co | 1.5 |
Bank of America | 1.5 |
Currency (%)
EUR | 98.3 |
GBP | 1.6 |
USD | 0.1 |
Other | 0.0 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
AAA | 3.7 | 0.3 | 3.3 | |
AA | 7.9 | 9.9 | -2.0 | |
A | 47.0 | 41.6 | 5.4 | |
BBB | 37.0 | 48.0 | -11.0 | |
BB | 1.8 | 0.1 | 1.8 | |
CCC | 0.3 | - | 0.3 | |
NR | 1.8 | 0.2 | 1.6 | |
Cash | 0.6 | - | 0.6 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Banks | 35.1 | 30.9 | 4.2 | |
Financial Services | 5.8 | 2.9 | 2.9 | |
Sovereign | 2.8 | - | 2.8 | |
Consumer Services | 6.7 | 4.1 | 2.7 | |
Telecommunications | 6.2 | 5.0 | 1.1 | |
Covered | 0.7 | - | 0.7 | |
Cash and Equivalents | 0.6 | - | 0.6 | |
Real Estate | 5.6 | 5.0 | 0.6 | |
Utilities | 11.5 | 11.4 | 0.1 | |
Unknown | -0.1 | - | -0.1 | |
Insurance | 3.5 | 4.1 | -0.6 | |
Oil & Gas | 2.6 | 3.7 | -1.0 | |
Basic Materials | 0.5 | 2.7 | -2.2 | |
Health Care | 3.1 | 5.5 | -2.4 | |
Technology | - | 2.4 | -2.4 | |
Industrials | 6.5 | 9.6 | -3.1 | |
Consumer Goods | 8.8 | 12.7 | -4.0 |
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.
Literature
Document type
Prices
Pricing information
Price basis | Single - dilution levy |
Price time | 22:00 UK time |
Currency | EUR |
Download full price history
Codes and dealing
Codes
ISIN | GB00B6CFP433 |
SEDOL | B6CFP43 |
Bloomberg | LGECBDA LN |
MEX | - |
Dealing information
Valuation frequency | Daily, 22:00 GMT |
Dealing frequency | Each Business Day |
Settlement period | T+3 |
Country registration
This share class is registered for sale in the following countries: