PMCs

Unit-Linked Life Insurance

Multi Factor UK ESG Exclusions Equity Fund

Fund codeMPAJ

Fund aim

The investment objective of the fund is to provide long-term investment growth by investing in UK equities and providing exposure to multiple equity risk-factors. This is achieved through tracking the performance of the benchmark, SciBeta United Kingdom High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index, (less withholding tax where applicable) to within +/- 0.1% per annum for two years out of three. Please see fund characteristics for further information

Fund characteristics

The fund employs an index tracking strategy, aiming to replicate the performance of its benchmark, using a pragmatic approach.
This index is not market capitalisation weighted and is comprised of equities that exhibit the characteristics of certain equity risk factors (such as value, low volatility and quality comprising of high profitability and low investment) that have been shown to be rewarded over the long term. The index is determined by the LGIM Asset Allocation team who assess its appropriateness in the context of the Fund objective on annual basis and may revise the benchmark accordingly. Prior notification of benchmark changes will not be provided and this document will be updated to reflect the current benchmark.
Within the tracking deviation, the Fund excludes companies in line with LGIM’s view as to minimum corporate standards and LGIM Environmental, Social and Governance (“ESG”) research and aims to reduce its carbon footprint through the fund-level optimisation. The exclusion criteria are guided by, but not limited to, LGIM Future World Protection List with any potential exclusions assessed for financial materiality and alignment with the overall Fund objective. A summary of the L&G Future World Protection List Methodology is available at: www.lgim.com/fwpl.
The fund will gain exposure by investing directly or indirectly in the constituents of the benchmark. The fund may also hold index and single stock futures for efficient portfolio management.

Fund facts

Fund size£549.7m
Base currencyGBP
DomicileUnited Kingdom
Share class launch03/07/17
As at 31 Dec 2023

Benchmark

SciBeta United Kingdom High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index

A Scientific Beta (SciBeta) Index. *High-Factor-Intensity, **Value, Volatility, Profitability/Investment, ***Maximum Deconcentration; Diversified Risk Weighted

Performance

Source: LGIM. Performance is reported in GBP based on weekly mid-market prices before the deduction of fees. Withholding tax rates applied to the index by the index provider are generally higher than those the fund incurs
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:03 Jul 2017
Benchmark:SciBeta United Kingdom High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index
Share class launch date:03 Jul 2017
Benchmark:SciBeta United Kingdom High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index
    Share class launch date:03 Jul 2017
    Benchmark:SciBeta United Kingdom High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index

    Portfolio breakdown

    As at 31 Dec 2023

    Top 10 holdings37.9%
    Rest of portfolio62.1%
    No. of holdings in fund53
    No. of holdings in index56

    Top 10 holdings (%)

    GSK4.7
    Sage Group4.4
    Aviva4.3
    Tesco4.2
    BAE Systems3.8
    3I Group3.6
    HSBC Holdings3.6
    Vodafone Group3.2
    RELX Group3.1
    Ferguson3.0

    Sector (%)

    Financials
    		27.6
    Cyclical Consumer
    		16.5
    Healthcare
    		13.7
    Industrials
    		12.7
    Non-cyclical Consumer
    		9.5
    Technology
    		6.6
    Basic Materials
    		4.7
    Utilities
    		3.7
    Telecoms Services
    		3.2
    Other
    		1.9

    All data source LGIM unless otherwise stated. Totals may not sum due to rounding. In order to minimise transaction costs, the Fund will not always own all the assets that constitute the index and on occasion it will own assets that are not in the index.

    Fund managers

    LGIM Index Fund Management Team headshot

    LGIM Index Fund Management Team

    The Index Fund Management team comprises 25 fund managers, supported by two analysts. Management oversight is provided by the Global Head of Index Funds. The team has average industry experience of 15 years, of which seven years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.

    Literature

    Prices

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

    Download full price history

    Monthly price history

    Download full price history

    Important information

    All performance periods over a year will be annualised.

    This information is intended for investment professionals only and is for information purposes only. It should not be distributed without our permission.

    No investment decisions should be made without first reviewing the Key Information Document, the Key Features Document and Description of Funds of the relevant product which includes information on certain risks associated with an investment.

    Unless otherwise agreed in writing, the Information on this website (a) is for information purposes only and we are not soliciting any action based on it, and (b) is not a recommendation to buy or sell securities or pursue a particular investment strategy; and (c) is not investment, legal, regulatory or tax advice. Any trading or investment decisions taken by you should be based on your own analysis and judgment (and/or that of your professional advisers) and not in reliance on us or the Information.

    All information detailed on this website is current at the time of publication and may be changed in the future.

    Following the imposition of sanctions on Russian securities and assets being removed from indices the market has been effectively frozen for foreign investors and all equity positions have been marked to zero in line with LGIM’s fair value pricing policy. Regardless of being priced at zero LGIM funds may still own these securities and any value realised in the future will be for the sole benefit of the relevant fund. LGIM will seek to divest from such securities at such a time that market conditions allow consistent with our fiduciary duties and applicable sanctions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal and General Assurance (Pensions Management) Limited.

    Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data.

    Issuer

    Information for all Pension and Life Funds is issued by Legal and General Assurance (Pensions Management) Limited (‘PMC’). It is a life insurance company which carries on linked insurance business. As part of that business, it holds investments divided into separate sub-funds known as PF Sections. The value of each Policy that it issues is determined by reference to the value of one or more of the PF Sections. Legal & General Investment Management Limited, has been appointed as the investment manager of these PF Sections and is authorised and regulated by the Financial Conduct Authority. LGIM also provides investment and marketing services to PMC.

    Legal and General Assurance (Pensions Management) Limited is Registered in England and Wales No. 01006112.  Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, No. 202202.

    Index disclaimer

    The index is the intellectual property (including registered trademarks) of EDHEC Risk Institute Asia Ltd and/or its licensors, which is used under license within the framework of ERI Scientific Beta activity. The fund that replicates fully or partially the index is not sponsored, endorsed, sold or promoted by EDHEC Risk Institute Asia Ltd and its licensors and neither EDHEC Risk Institute ASIA Ltd nor its licensors shall have any liability with respect thereto.

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