Active Corporate Bond - All Stocks - Fund
Unit-Linked Life Insurance
Active Corporate Bond - All Stocks - Fund
Fund codeDC
Fund codeDC
Fund aim
Fund characteristics
Fund facts
Fund size | £1,295.6m |
Base currency | GBP |
Domicile | United Kingdom |
Share class launch | 01/07/02 |
Modified duration | 5.95 years |
Gross redemption yield (unhedged) | 4.78% |
Benchmark
Markit iBoxx £ Non-Gilts Index
Performance
With effect from 25th January 2022 the Fund’s permitted exposure to bonds with minimum credit ratings of BB- increased from 5% to 10%.
With effect from 25th January 2022 the Fund’s permitted exposure to bonds with minimum credit ratings of BB- increased from 5% to 10%.
With effect from 25th January 2022 the Fund’s permitted exposure to bonds with minimum credit ratings of BB- increased from 5% to 10%.
Portfolio breakdown
As at 31 Dec 2023
Top 10 issuers | 31.8% |
---|---|
Rest of portfolio | 68.2% |
No. of issuers | 132 |
---|
Top 10 issuers (%)
United Kingdom | 16.0 |
National Grid | 2.8 |
Credit Mutuel | 1.9 |
United Utilities Group | 1.9 |
E.ON | 1.7 |
Credit Agricole Group | 1.6 |
Hammerson | 1.5 |
Majority Midco Sarl | 1.5 |
Lloyds Banking Group | 1.5 |
CK Hutchison Holdings | 1.4 |
Currency (%)
GBP | 95.0 |
EUR | 3.1 |
USD | 1.7 |
Top 10 issuers | 31.8% |
---|---|
Rest of portfolio | 68.2% |
No. of issuers | 132 |
---|
Top 10 issuers (%)
United Kingdom | 16.0 |
National Grid | 2.8 |
Credit Mutuel | 1.9 |
United Utilities Group | 1.9 |
E.ON | 1.7 |
Credit Agricole Group | 1.6 |
Hammerson | 1.5 |
Majority Midco Sarl | 1.5 |
Lloyds Banking Group | 1.5 |
CK Hutchison Holdings | 1.4 |
Currency (%)
GBP | 95.0 |
EUR | 3.1 |
USD | 1.7 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
AAA | 2.8 | 21.2 | -18.4 | |
AA | 24.8 | 13.4 | 11.4 | |
A | 25.0 | 29.3 | -4.3 | |
BBB | 38.1 | 36.0 | 2.0 | |
BB | 3.5 | 0.0 | 3.4 | |
B | 0.3 | - | 0.3 | |
NR | - | 0.1 | -0.1 | |
Cash | 5.5 | - | 5.5 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Cash and Equivalents | 5.5 | - | 5.5 | |
Utilities | 17.1 | 12.5 | 4.6 | |
ABS | 10.8 | 8.6 | 2.2 | |
Insurance | 6.4 | 4.6 | 1.8 | |
Consumer Services | 4.5 | 3.2 | 1.3 | |
Real Estate | 4.2 | 3.2 | 1.0 | |
Consumer Goods | 5.6 | 4.6 | 1.0 | |
Industrials | 4.0 | 3.5 | 0.5 | |
Financial Services | 2.4 | 2.6 | -0.3 | |
Technology | 0.3 | 0.7 | -0.4 | |
Basic Materials | - | 0.4 | -0.4 | |
Unknown | 0.2 | 0.7 | -0.5 | |
Covered | 1.2 | 1.7 | -0.6 | |
Oil & Gas | 0.6 | 1.3 | -0.7 | |
Telecommunications | 3.1 | 3.9 | -0.9 | |
Health Care | - | 1.4 | -1.4 | |
Banks | 16.6 | 20.7 | -4.2 | |
Sovereign | 17.6 | 26.2 | -8.6 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Ian Hutchinson
Ian leads the UK active Credit team having joined LGIM in 2004. He started in 1998 at Standard & Poor’s as a Eurobond analyst. Ian is IMC qualified and a CFA charterholder. He holds a degree in International Relations from the University of Sussex.
James MacIntyre-Ure
James is a UK Credit senior portfolio manager in the Pan European Credit team, having joined LGIM in 2012. He is IMC qualified and a CFA charterholder. He holds a BSc (Hons) in Investment and Financial Risk Management from Cass Business School.
Literature
Document type
Prices
Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close, daily close, or daily midday basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
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