SICAV (UCITS compliant)

L&G Euro Corporate Bond Fund

I-Class EUR Accumulation

ISINLU0984223668

Price

Fund aim

The objective of the Fund is to provide long term return consisting of a combination of capital growth and income. The Fund aims to deliver this objective while maintaining a lower weighted average carbon intensity than the Benchmark Index. The Fund is actively managed and seeks to achieve this objective by investing at least 80% of its assets in a variety of Euro denominated fixed interest instruments such as corporate bonds, other fixed or floating-rate debt securities and short-term debt securities. These may include asset-backed securities such as mortgage-backed securities (residential & commercial), convertible securities and contingent convertible debt securities.

Fund snapshot

  • What does it invest in? Invests predominantly in fixed income securities including corporate bonds and other debt instruments, issued globally and denominated predominantly in Euros, but also in other currencies.
  • How does it invest? Actively managed, investing primarily in fixed income securities with an investment grade (lower risk) credit rating. May also invest in debt with a sub-investment grade (higher risk) credit rating or unrated bonds, as well as derivatives.
  • 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€57.5m
Base currencyEUR
Fund launch date25 Nov 2013
DomicileLuxembourg
Share class launch7 May 2014
Modified duration4.56 years
Gross redemption yield (unhedged)3.88%
As at 29 Feb 2024

Benchmark

Markit iBoxx Euro Corporates Total Return Index

Costs

Initial charge0.00%
Ongoing charges figure0.36%
Dilution adjustment0.442% - round trip

Performance

Performance for the I EUR Acc unit class in EUR, launched on 07 May 2014. 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:07 May 2014
Benchmark:Markit iBoxx Euro Corporates TR EUR
Share class launch date:07 May 2014
Benchmark:Markit iBoxx Euro Corporates TR EUR
    Share class launch date:07 May 2014
    Benchmark:Markit iBoxx Euro Corporates TR EUR

    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 costs7,870EUR8,170EUR
    Average return each year (%)-21.32EUR-3.95EUR
    Unfavourable scenario
    What you might get back after costs8,520EUR9,360EUR
    Average return each year (%)-14.83EUR-1.31EUR
    Moderate scenario
    What you might get back after costs10,230EUR11,740EUR
    Average return each year (%)2.26EUR3.26EUR
    Favourable scenario
    What you might get back after costs11,000EUR13,260EUR
    Average return each year (%)10.01EUR5.80EUR

    Portfolio breakdown

    As at 29 Feb 2024

    Top 10 issuers20.2%
    Rest of portfolio79.8%
    No. of issuers155

    Top 10 issuers (%)

    Credit Mutuel3.5
    Federal Republic of Germany3.3
    UBS Group3.0
    Verizon Communications2.3
    Jyske Bank1.8
    Mizuho Financial Group1.3
    Motability Operations Group1.3
    BNP Paribas1.3
    Nordea Bank Abp1.2
    JPMorgan Chase & Co1.2

    Currency (%)

    EUR
    98.2
    GBP
    1.5
    USD
    0.3
    This is the currency breakdown before allowing for any hedging the fund may use. We aim to hedge the portfolio 100% back to the base currency.

    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).

    Lan Wu headshot

    Lan Wu

    Lan is a euro credit portfolio manager in the Pan European Credit team, having joined LGIM in September 2010 as assistant to the fund manager. Previously Lan was at Hedge Funds Investment Management where she worked as a part-time research analyst in their Investment team. Prior to this, Lan completed internships with China Lion Securities in China, in their investment banking department, and with UBS, London where she worked in their fixed income, currencies and commodities division. Lan holds a MMath in mathematics and statistics from Oxford University as well as an MSc in finance at Imperial College London. Lan is a CFA charterholder.

    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

    ISINLU0984223668
    SEDOL-
    BloombergLGECBIA LX
    MEX-

    Dealing information

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

    Country registration

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

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