Collectives

SICAV (UCITS compliant)

L&G Euro Buy and Maintain Credit Fund

I-Class EUR Accumulation

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 currencyEUR
Fund launch date15 May 2019
DomicileLuxembourg
Share class launch15 May 2019
Modified duration6.07 years
Gross redemption yield (unhedged)3.69%
As at 29 Feb 2024

Costs

Initial charge0.00%
Ongoing charges figure0.21%
Dilution adjustment0.61% - round trip

Performance

Performance for the I EUR Acc unit class in EUR, launched on 15 May 2019. Source: Lipper. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. The tables and charts above shows the fund's performance as the percentage loss or gain per year over the last 10 years.
Share class launch date:15 May 2019
Share class launch date:15 May 2019
    Share class launch date:15 May 2019

    Performance scenarios

    The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.
    What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
    The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product with input from the over the last 10 years. Markets could develop very differently in the future.

    Example investment:10,000 EUR

    Scenarios1 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 costs8,010EUR7,880EUR
    Average return each year (%)-19.86EUR-4.65EUR
    Unfavourable scenario
    What you might get back after costs8,400EUR8,540EUR
    Average return each year (%)-16.00EUR-3.10EUR
    Moderate scenario
    What you might get back after costs10,120EUR11,370EUR
    Average return each year (%)1.21EUR2.60EUR
    Favourable scenario
    What you might get back after costs10,820EUR13,360EUR
    Average return each year (%)8.24EUR5.96EUR

    Portfolio breakdown

    As at 29 Feb 2024

    Top 10 issuers12.1%
    Rest of portfolio87.9%
    No. of issuers163

    Top 10 issuers (%)

    Electricite de France1.6
    Thermo Fisher Scientific1.3
    Visa1.2
    Bank of America1.2
    Goldman Sachs Group1.2
    AT&T1.2
    TenneT Holding1.1
    Siemens1.1
    Nestle1.1
    Morgan Stanley1.1

    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

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

    Fund managers

    Marc Rovers headshot

    Marc Rovers

    Marc Rovers's award

    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 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.

    Sustainability

    SFDR categorisation

    Environmental characteristics
    Social characteristics

    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.

    Literature

    Prices

    Pricing information

    Price basisSingle swing
    Price time16:00 CET
    CurrencyEUR
    Monthly price history

    Codes and dealing

    Codes

    ISINLU1955024473
    SEDOLBJ32146
    BloombergLGEBMIA LX
    MEX-

    Dealing information

    Valuation frequencyDaily, 16:00 CET
    Dealing frequencyDaily
    Settlement periodT+3
    Administrator/CustodianNorthern Trust

    Country registration

    This share class is registered for sale in the following countries:

    Denmark
    Finland
    Germany
    Ireland
    Italy
    Luxembourg
    Netherlands
    Norway
    Sweden
    Switzerland
    United Kingdom