PMCs

Unit-Linked Life Insurance

Maturing Buy and Maintain Credit Fund 2035-2039

Fund codeCAAX

Fund aim

The fund aims to provide investors with credit risk exposure through investing principally in a globally diversified portfolio of non-government bonds and avoiding investment in bonds which in the opinion of the Investment Manager are likely to default or experience a significant deterioration in credit quality.

Fund characteristics

The fund will achieve all of its exposure by purchasing shares in the LGIM Maturing Buy & Maintain Credit Fund 2035-2039, a sub-fund of LGIM (Ireland) Risk Management Solutions PLC, an umbrella investment company with variable capital incorporated in Ireland. The underlying fund will aim to predominantly purchase non-government bonds, all with expected principal payments to be paid between 1st Jan 2035 and 31st Dec 2039. Income and principal from investments will be distributed monthly by the cancellation of units.

Fund facts

Fund size£418.1m
Base currencyGBP
DomicileUnited Kingdom
Share class launch17/06/19
Modified duration9.64 years
Gross redemption yield (unhedged)4.62%
As at 31 Dec 2023

Performance

Source: LGIM. Performance is reported in GBP based on weekly mid-market prices before the deduction of fees.
Past performance is not a guide to future performance and the value of investments can go down as well as up.
Share class launch date:17 Jun 2019
Share class launch date:17 Jun 2019
    Share class launch date:17 Jun 2019

    Portfolio breakdown

    As at 31 Dec 2023

    Top 10 issuers20.0%
    Rest of portfolio80.0%
    No. of issuers146

    Top 10 issuers (%)

    E.ON2.2
    Enel2.0
    Berkshire Hathaway2.0
    Diageo2.0
    National Grid2.0
    SSE2.0
    United Kingdom2.0
    Vattenfall1.9
    Segro1.9
    United Utilities Group1.9

    Sector (%)

    Financial
    14.0
    Utility - Electric
    13.4
    Utility - Other
    12.2
    Govt Related
    12.1
    Consumer Non-Cyclical
    10.3
    Communications
    6.8
    Banking
    6.6
    Consumer Cyclical
    6.6
    REITS
    4.7
    Other
    13.4

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

    Fund managers

    Maurice Browne headshot

    Maurice Browne

    Maurice is the portfolio manager for our buy and maintain strategy in the Global Fixed Income team. Maurice joined LGIM in March 2013 from Aviva Investors where he worked for over six years as a credit portfolio manager. At Aviva he managed a range of sterling, euro and global credit portfolios including buy and maintain strategies. Maurice began his investment career in 2001 as a credit analyst and subsequently a manager of global credit portfolios at Merrill Lynch Investment Managers. Maurice graduated from the University of Cambridge and holds an MA in economics. He is also a CFA charterholder.

    Connor Olvany headshot

    Connor Olvany

    Connor is a Euro Credit Portfolio Manager in LGIM’s European Credit team, having joined LGIM in May 2014. Before joining the team Connor worked in the Global Buy & Maintain team managing client portfolios. He transferred to London from the LGIMA office in Chicago where he was a portfolio manager in the Active Fixed Income team. Prior to LGIM, Connor worked in fixed income sales at RBS Securities. Connor has BA degrees in Mathematics and Economics from Williams College.

    Literature

    Prices

    Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.

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    Monthly price history

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