Collectives

SICAV (UCITS compliant)

L&G Euro High Alpha Corporate Bond Fund

I-Class EUR Accumulation

ISINLU1003761993

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, 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 debt with an investment grade (rated as lower risk) credit rating. May also invest in other types of securities and derivatives. The Fund will typically have higher exposure to assets the Manager believes will generate a higher level of income, relative to other L&G Euro corporate bond funds.
  • 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€580.9m
Base currencyEUR
Fund launch date8 Dec 2014
DomicileLuxembourg
Share class launch28 Feb 2020
Modified duration4.55 years
Gross redemption yield (unhedged)3.95%
As at 29 Feb 2024

Benchmark

Markit iBoxx Euro Corporates Total Return Index

Costs

Initial charge0.00%
Ongoing charges figure0.45%
Dilution adjustment0.436% - round trip

Performance

Performance for the I EUR Acc unit class in EUR, launched on 28 February 2020. 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:28 Feb 2020
Benchmark:Markit iBoxx Euro Corporates Total Return Index
Share class launch date:28 Feb 2020
Benchmark:Markit iBoxx Euro Corporates Total Return Index
    Share class launch date:28 Feb 2020
    Benchmark:Markit iBoxx Euro Corporates Total Return Index

    Portfolio breakdown

    As at 29 Feb 2024

    Top 10 issuers19.6%
    Rest of portfolio80.4%
    No. of issuers168

    Top 10 issuers (%)

    Credit Mutuel3.2
    BNP Paribas2.2
    Federal Republic of Germany2.2
    Verizon Communications2.1
    UBS Group1.9
    Jyske Bank1.8
    Morgan Stanley1.8
    JPMorgan Chase & Co1.5
    LVMH Moet Hennessy Louis Vuitton1.4
    Booking Holdings1.4

    Currency (%)

    EUR
    98.4
    GBP
    0.8
    USD
    0.8
    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).

    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

    ISINLU1003761993
    SEDOLBKT1649
    BloombergLGACBIU 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:

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