L&G Euro Buy and Maintain Credit Fund
SICAV (UCITS compliant)
L&G Euro Buy and Maintain Credit Fund
I-Class EUR Accumulation
ISINLU1955024473
Price
ISINLU1955024473
Price
Fund aim
The Fund aims to provide investors with a combination of growth and income. The Fund aims to deliver this objective while decarbonising the portfolio over time, targeting a 50% reduction in weighted average carbon intensity by 2030, compared to a December 2019 baseline level.
Fund snapshot
- What does it invest in? Invests in a broad range of fixed income securities denominated in Euro, US Dollar and Sterling, with at least 70% being denominated in Euro. Invests at least 70% in corporate bonds.
- How does it invest? Actively managed, investing primarily in fixed income securities with an investment grade (lower risk) credit rating. Seeks to preserve value over credit cycle by avoiding securities experiencing significant deterioration in credit quality and defaults.
- 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 | €290.1m |
Base currency | EUR |
Fund launch date | 15 May 2019 |
Domicile | Luxembourg |
Share class launch | 15 May 2019 |
Modified duration | 6.07 years |
Gross redemption yield (unhedged) | 3.69% |
Costs
Initial charge | 0.00% |
Ongoing charges figure | 0.21% |
Dilution adjustment | 0.61% - round trip |
Performance
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 | 8,010EUR | 7,880EUR |
Average return each year (%) | -19.86 | -4.65 | |
Unfavourable scenario | What you might get back after costs | 8,400EUR | 8,540EUR |
Average return each year (%) | -16.00 | -3.10 | |
Moderate scenario | What you might get back after costs | 10,120EUR | 11,370EUR |
Average return each year (%) | 1.21 | 2.60 | |
Favourable scenario | What you might get back after costs | 10,820EUR | 13,360EUR |
Average return each year (%) | 8.24 | 5.96 |
There is no minimum guaranteed return. You could lose some or all of your investment.
Portfolio breakdown
As at 29 Feb 2024
Top 10 issuers | 12.1% |
---|---|
Rest of portfolio | 87.9% |
No. of issuers | 163 |
---|
Top 10 issuers (%)
Electricite de France | 1.6 |
Thermo Fisher Scientific | 1.3 |
Visa | 1.2 |
Bank of America | 1.2 |
Goldman Sachs Group | 1.2 |
AT&T | 1.2 |
TenneT Holding | 1.1 |
Siemens | 1.1 |
Nestle | 1.1 |
Morgan Stanley | 1.1 |
Sector (%)
Utilities | 16.9 |
Banks | 15.2 |
Consumer Goods | 15.1 |
Industrials | 10.9 |
Health Care | 8.7 |
Real Estate | 7.5 |
Telecommunications | 7.5 |
Consumer Services | 5.5 |
Financial Services | 4.8 |
Other | 7.9 |
Top 10 issuers | 12.1% |
---|---|
Rest of portfolio | 87.9% |
No. of issuers | 163 |
---|
Top 10 issuers (%)
Electricite de France | 1.6 |
Thermo Fisher Scientific | 1.3 |
Visa | 1.2 |
Bank of America | 1.2 |
Goldman Sachs Group | 1.2 |
AT&T | 1.2 |
TenneT Holding | 1.1 |
Siemens | 1.1 |
Nestle | 1.1 |
Morgan Stanley | 1.1 |
Sector (%)
Utilities | 16.9 |
Banks | 15.2 |
Consumer Goods | 15.1 |
Industrials | 10.9 |
Health Care | 8.7 |
Real Estate | 7.5 |
Telecommunications | 7.5 |
Consumer Services | 5.5 |
Financial Services | 4.8 |
Other | 7.9 |
Credit rating (%)
AAA | 1 | |
AA | 12 | |
A | 48.5 | |
BBB | 37.6 | |
NR | 0.7 | |
Cash | 0.1 |
Currency (%)
EUR | 100.0 |
Other | 0.0 |
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).
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.
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 | 16:00 CET |
Currency | EUR |
Codes and dealing
Codes
ISIN | LU1955024473 |
SEDOL | BJ32146 |
Bloomberg | LGEBMIA LX |
MEX | - |
Dealing information
Valuation frequency | Daily, 16:00 CET |
Dealing frequency | Daily |
Settlement period | T+3 |
Administrator/Custodian | Northern Trust |
Country registration
This share class is registered for sale in the following countries: