SICAV (UCITS compliant)

L&G Buy & Maintain Credit Fund

Z-Class GBP Accumulation

ISINLU1054984114

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 predominantly in fixed income securities including corporate bonds and other debt instruments, issued Sterling, Euro and US dollar in the UK and overseas. Seeks to hedge non-sterling interest rate exposure back to the Sterling curve as well as hedging non-Sterling FX exposure back to Sterling.
  • How does it invest? Actively managed, investing primarily in debt with an investment grade (lower risk) credit rating. May also invest in other types of securities and derivatives. 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£2,120.9m
Base currencyGBP
Fund launch date8 May 2014
DomicileLuxembourg
Share class launch8 May 2014
Modified duration5.09 years
Gross redemption yield (unhedged)5.02%
As at 29 Feb 2024

Costs

Initial charge0.00%
Ongoing charges figure0.04%
Dilution adjustment0.55% - round trip

Performance

Performance for the Z GBP Acc unit class in GBP, launched on 08 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:08 May 2014
Share class launch date:08 May 2014
    Share class launch date:08 May 2014

    Portfolio breakdown

    As at 29 Feb 2024

    Top 10 issuers7.2%
    Rest of portfolio92.8%
    No. of issuers361

    Top 10 issuers (%)

    United Kingdom0.9
    Notting Hill Genesis0.9
    CK Hutchison Holdings0.8
    UBS Group0.7
    Anheuser-Busch InBev0.7
    Vodafone Group0.7
    Royal Bank of Canada0.7
    London Stock Exchange Group0.7
    Glas Cymru Holdings Cyfyngedig0.6
    AstraZeneca0.6

    Sector (%)

    Financial Other
    10.6
    Banking
    10.1
    Consumer Non Cyclical
    9.2
    Consumer Cyclical
    9.0
    Industrial Other
    7.4
    REITS
    7.2
    Utility - Electric
    7.2
    Govt Related
    6.9
    ABS
    6.2
    Other
    26.2

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

    Fund managers

    Maurice Browne headshot

    Maurice Browne

    Maurice is the portfolio manager for our buy and maintain strategy in the Global Fixed Income team. Maurice joined LGIM in March 2013 from Aviva Investors where he worked for over six years as a credit portfolio manager. At Aviva he managed a range of sterling, euro and global credit portfolios including buy and maintain strategies. Maurice began his investment career in 2001 as a credit analyst and subsequently a manager of global credit portfolios at Merrill Lynch Investment Managers. Maurice graduated from the University of Cambridge and holds an MA in economics. He is also 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 time23:00 CET
    CurrencyGBP
    Monthly price history
    Please note that a maximum of 10 years price history is available.

    Codes and dealing

    Codes

    ISINLU1054984114
    SEDOL-
    BloombergLGBMCZA LX
    MEX-

    Dealing information

    Valuation frequencyDaily, 23:00 CET
    Dealing frequencyEach Business Day
    Settlement periodT+3
    Administrator/CustodianNorthern Trust

    Country registration

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

    Luxembourg
    United Kingdom