SICAV (UCITS compliant)

L&G Absolute Return Bond Plus Fund

Fund facts

Fund size
$310.1m
Base currency
USD
Launch date
29 Nov 2013
Domicile
Luxembourg
Share class launch

Statistics

Modified duration
1.74 years

As at 30 Jun 2019

Fund aim

The Fund aims to generate positive returns in all market conditions. The Fund has a higher performance target than that of the L&G Absolute Return Bond Fund. The Fund aims to meet its performance objectives over a rolling three year period. There can be no assurance that the Fund will achieve its investment objective.

Benchmark

ICE BofA Merrill Lynch USD LIBOR 3 Month Constant Maturity Index TR

  • Aims to generate positive returns in all market conditions
  • Invests in a broad range of fixed income asset classes
  • Seeks alpha via a range of additional investments including CDS, rates and global currencies

Fund updates

Performance

Source: Lipper

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Jun 2019

    CumulativeFund
    6 Months-
    Year to date-
    3 years-
    5 years-
    AnnualisedFund
    1 year-
    3 years-
    5 years-

    As at 30 Jun 2019

    CumulativeFund
    6 Months-
    Year to date-
    3 years-
    5 years-
    AnnualisedFund
    1 year-
    3 years-
    5 years-
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    12 months to 30 June 2015 2016 2017 2018 2019
    Fund - - - - -
    Benchmark 0.24 0.41 0.85 1.53 2.60

    Calendar year performance (%)

    2014 2015 2016 2017 2018
    Fund - - - - -
    Benchmark 0.23 0.23 0.66 1.11 2.08

    Monthly performance (%)

    Annualised performance (%)

    1 year 3 years 5 years
    Fund - - -

    Annualised performance (%)

    1 year 3 years 5 years
    Fund - - -

    Performance for the I GBP (Hedged) Acc unit class in GBP, launched on 15 December 2016. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the I USD Acc unit class in USD, launched on . Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the I USD Dist unit class in USD, launched on . Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the P EUR (Hedged) Dist unit class in EUR, launched on 24 August 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the P USD Acc unit class in USD, launched on . Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the P USD Dist unit class in USD, launched on . Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the R USD Acc unit class in USD, launched on . Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the R USD Dist unit class in USD, launched on . Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the Z GBP (Hedged) Acc unit class in GBP, launched on 24 October 2016. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the Z USD Acc unit class in USD, launched on 29 November 2013. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Performance for the Z USD Dist unit class in USD, launched on 16 December 2015. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. 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 guide to the future.

    Portfolio

    As at 30 Jun 2019. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Currency (%)

    USD 92.2
    GBP 4.6
    EUR 3.2
    HKD -0.2
    Other 0.1

    This is the currency breakdown before allowing for any hedging the fund may use.

    Credit exposure (net %)

    Investment Grade -0.14 0.25 0.12
    EM Debt -0.01 0.12 0.11
    High Yield 0.00 0.09 0.09
    Long Exposure
    Short Exposure
    Net Exposure
    Total net credit exposure is the impact on profit/loss to the portfolio calculated as the impact of a 5% move tigher in credit spreads based on a reference level of 100% Itraxx Eur Main (with 4yr CS01 Duration Equivalent).

    Credit rating (%)

    AAA 5.2
    AA 2.2
    A 17.9
    BBB 36.3
    BB 12.1
    B 12.4
    CCC 1.2
    NR 2.8
    Cash 10.0
    Other 0.0

    Sector (%)

    Sovereign 16.0
    Banks 14.6
    Cash and Equivalents 10.0
    Consumer Goods 9.8
    ABS 6.3
    Financial Services 6.0
    Real Estate 4.6
    Utilities 4.4
    Oil & Gas 4.3
    Technology 4.2
    Basic Materials 4.0
    Consumer Services 3.6
    Telecommunications 3.4
    Health Care 1.8
    Other 7.1
    Top 10 issuers 18.1
    Rest of portfolio 81.9
    No. of issuers 590

    Top 10 issuers (%)

    Cedar Springs Cap 2.6
    AT&T Inc 2.2
    Unicredit Spa 2.2
    Berkshire Hathaway Inc 2.0
    Alliance Bernstein 1.6
    Barton Capital 1.6
    General Motors Co 1.5
    Tencent Holdings Ltd 1.5
    Viacom Inc 1.5
    United States of America 1.4

    Country (%)

    United States 33.0
    United Kingdom 12.7
    China 5.7
    Italy 3.3
    India 3.0
    Germany 2.7
    Switzerland 2.1
    Egypt 1.7
    Ireland 1.7
    Other 34.1

    Literature

    Prices

    This share class is not currently pricing.
    This share class is not currently pricing.
    This share class is not currently pricing.
    This share class is not currently pricing.
    This share class is not currently pricing.
    This share class is not currently pricing.
    Name
    I GBP Hedged Acc
    Mid price
    102.06p
    Change (%)
    -
    Currency
    GBP
    Price time
    16:00 CET
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    Mid price
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    n/a
    Currency
    n/a
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    n/a
    Name
    P EUR Hedged Inc
    Mid price
    99.24c
    Change (%)
    -
    Currency
    EUR
    Price time
    16:00 CET
    Name
    n/a
    Mid price
    n/a
    Change (%)
    n/a
    Currency
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    Name
    Z GBP Hedged Acc
    Mid price
    103.78p
    Change (%)
    -
    Currency
    GBP
    Price time
    16:00 CET
    Name
    Z USD Acc
    Mid price
    113.50c
    Change (%)
    -
    Currency
    USD
    Price time
    16:00 CET
    Name
    Z USD Inc
    Mid price
    104.70c
    Change (%)
    -
    Currency
    USD
    Price time
    16:00 CET

    Further details

    Costs

    Price basis
    Single swing
    Initial charge
    0.00%
    Ongoing charges figure
    0.66%
    Dilution adjustment
    0.438%- round trip
    Swing factor
    0.219%

    Codes

    ISIN
    LU0989306476
    SEDOL
    -
    Bloomberg
    -
    MEX
    -

    Dealing information

    Valuation frequency
    Daily, 16:00 CET
    Dealing frequency
    Each Business Day
    Settlement period
    T+3
    Administrator/Custodian
    Northern Trust

    Country registration

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

    For valuations and account queries contact:

    Legal & General ICAV
    LGIM Liquidity Funds Plc

    Northern Trust International Fund Administration Services (Ireland) Limited
    George’s Court, 54-62 Townsend Street
    Dublin 2, Ireland.
    Fax: +353 1 434 5293
    Telephone: +353 1 434 5080
    Email: [email protected]

    Legal & General SICAV
    Northern Trust Global Services SE
    6 rue Lou Hemmer
    L-1748 Senningerberg
    Grand-Duché de Luxembourg
    Facsimile: +352 276 222 150
    Telephone: +352 276 222 514
    Email: [email protected]

    Key risks

    The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested.

    Past performance is no guarantee of future results.

    Important information

    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 investor information document and prospectus (and any supplements thereto) 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.

    This information is only directed at investors resident in jurisdictions where each fund is registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

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

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment 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 Collectives is issued by Legal & General Investment Management Limited (‘LGIM’). It is a MiFID II compliant investment management firm that acts as Promoter and Distributor to a range of EU domiciled UCITS umbrella companies and a range of UK domiciled UCITS and Non UCITS Retail Schemes. LGIM also acts has been appointed as the Investment Manager of these funds.

    Legal & General Investment Management Limited is Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised and regulated by the Financial Conduct Authority, No. 119272

    Index disclaimer

    ICE Benchmark Administration Limited makes no warranty, express or implied, either as to the results to be obtained from the use of ICE LIBOR and/or the figure at which ICE LIBOR stands at any particular time on any particular day or otherwise. ICE Benchmark Administration Limited makes no express or implied warranties of merchantability or fitness for a particular purpose in respect of any use of ICE LIBOR.