Unit Trust (UCITS compliant)

Legal & General Managed Monthly Income Trust

Important Due to exceptional market conditions, spreads are currently volatile and may be subject to frequent change.

Asset Management Market Study

In response to the Asset Management Market Study, we have (i) updated our fund investment objectives and policies so they are clearer and more useful for investors and (ii) explained why and how our funds use particular benchmarks or, if they do not use a benchmark, how investors should assess the performance of a fund.

Updated KIIDs and prospectuses are available for the UK authorised funds. The fact sheets with the new disclosures will be available from September 2019. For further information on the Asset Management Market Study, please download our frequently asked questions.

The way we manage the funds, and the risk profiles associated with our funds, has not changed. Full details of the clarifications we’ve made to our funds, please download our UK fund updates.

A full copy of the Legal & General Investment Management Assessment of Value report can be found on our value assessment page which outlines further information on each of the funds assessed, and any steps we are taking following the assessment.

Fund facts

Fund size
£407.2m
Base currency
GBP
Launch date
20 Oct 1997
Domicile
UK
Share class launch

Statistics

Distribution yield
2.5%
Modified duration
8.10 years

As at 30 Apr 2020

Fund aim

The objective of the Fund is to provide a monthly income.The Fund aims to outperform the iBoxx Sterling Corporate Bond Index (the “Index”) by 1.5% per annum. This objective is before the deduction of any charges and measured over rolling 3 year periods.

Benchmark

iBoxx Sterling Corporate Bond Index +1.5%

Sector

IA £ Corporate Bond

  • What does it invest in? Invests in bonds issued by a range of UK and overseas companies and governments.
  • How does it invest? Actively managed, with at least 80% in bonds with an investment grade (lower risk) credit rating, but may invest up to 20% in bonds with a sub-investment grade (higher risk) credit rating.

Further details

Costs

Price basis
Dual
Initial charge
0.00%
Ongoing charges figure
0.44%
Bid / Offer spread
2.50%

Codes

ISIN
GB00B0CNHQ18
SEDOL
B0CNHQ1
Bloomberg
LGMMIIA
MEX
LGMMIC

Dealing information

Valuation frequencyDaily, 12pm (UK time)
Dealing frequencyDaily
Settlement periodT+4

Find out more about price basis methodologies: View Guide to investing with us

Country registration

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

Fund updates

Performance

Source: Lipper

LIBOR is changing: read more on how future reforms of interbank offered rates may affect your investments with us.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Mar 2020

    CumulativeFundBenchmark
    1 month-7.30-7.38
    6 months-5.19-5.11
    Year to date-5.12-5.25
    3 years7.1510.29
    5 years17.6425.66
    Since launch--
    AnnualisedFundBenchmark
    1 year0.831.35
    3 years2.333.32
    5 years3.304.67
    Since launch--

    As at 31 Mar 2020

    CumulativeFundBenchmark
    Quarterly-5.12-5.25
    Year to date-5.12-5.25
    3 years7.1510.29
    5 years17.6425.66
    Since launch--
    AnnualisedFundBenchmark
    1 year0.831.35
    3 years2.333.32
    5 years3.304.67
    Since launch--
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 31 March 2016 2017 2018 2019 2020
    Fund-0.189.982.333.850.83
    Benchmark1.6012.143.045.611.35

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund0.2710.746.24-2.2411.23
    Benchmark2.0713.346.52-0.7212.53

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund0.832.333.30-
    Benchmark1.353.324.67-

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund0.832.333.30-
    Benchmark1.353.324.67-

    Performance for the F Acc unit class in GBP, launched on 17 August 2012. 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.

    Past performance is not a guide to the future.

    Performance for the F Inc unit class in GBP, launched on 17 August 2012. 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.

    Past performance is not a guide to the future.

    Performance for the I Acc unit class in GBP, launched on 26 August 2005. 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.

    Past performance is not a guide to the future.

    Performance for the I Inc unit class in GBP, launched on 26 August 2005. 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.

    Past performance is not a guide to the future.

    Performance for the R Acc unit class in GBP, launched on 31 October 2000. 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.

    Past performance is not a guide to the future.

    Performance for the R Inc unit class in GBP, launched on 20 October 1997. 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.

    Past performance is not a guide to the future.

    Performance for the unit class in GBP, launched on 10 April 2006. 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.

    Past performance is not a guide to the future.

    Performance for the unit class in GBP, launched on 10 April 2006. 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.

    Past performance is not a guide to the future.

    Portfolio

    As at 30 Apr 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Currency (%)

    GBP96.6
    USD2.2
    EUR1.2

    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.

    Years to maturity (%)

    0 to 519.8
    5 to 1031.7
    10 to 1515.0
    15 to 2014.2
    20 to 258.8
    25 to 306.5
    30 +4.2

    Credit rating (%)

    AAA1.1
    AA10.2
    A29.6
    BBB54.6
    <BBB2.9
    NR1.2
    Cash0.5

    Sector (%)

    Utilities23.8
    Banks17.3
    ABS9.6
    Insurance8.7
    Consumer Goods7.0
    Telecommunications6.8
    Financial Services6.1
    Industrials5.7
    Sovereign5.1
    Other9.8
    Top 10 issuers26.9
    Rest of portfolio73.1
    No. of issuers146

    Top 10 issuers (%)

    United Kingdom4.6
    Lloyds Banking Group plc3.5
    HSBC Holdings plc3.3
    EDF SA2.7
    AT&T Inc2.7
    Wells Fargo & Company2.4
    Aviva plc2.2
    United Utilities Water plc2.1
    General Electric Co1.7
    Tesco Property Finance 1 Plc1.7

    Country (%)

    United Kingdom59.4
    United States18.9
    France8.3
    Germany3.7
    Netherlands2.1
    Italy1.4
    Channel Islands1.0
    Spain0.9
    Luxembourg0.7
    Other3.6

    Fund Manager

    Mark is a senior UK investment grade portfolio manager with responsibility for LGIM’s retail funds. Mark joined LGIM in 2014 from AXA Investment Managers where he was Head of Credit, UK, and was closely involved with AXA’s successful entry into buy and maintain credit. Prior to that, he was at the Royal Bank of Canada in a variety of senior capital market roles. Mark graduated from the University College of North Wales with a BA (hons) in economics in 1984 and from the University of Bradford Management Centre with an MBA in 1985. He also holds the Investment Management Certificate.

    MarkBenstead

    Literature

    Income

    Latest dividends

    The latest dividends are shown below. The historic level of income generated by this fund may go down as well up and will vary over time.

    of

    Dividend history

    Total dividends paid in each financial year of the fund.

    Prices

    Name
    I GBP Acc
    Bid price
    141.30p
    Offer price
    142.70p
    Absolute change
    0.0022
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    I GBP Inc
    Bid price
    67.80p
    Offer price
    68.47p
    Absolute change
    -0.0005
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    F GBP Acc
    Bid price
    136.00p
    Offer price
    137.30p
    Absolute change
    0.0021
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    F GBP Inc
    Bid price
    68.50p
    Offer price
    69.17p
    Absolute change
    -0.0004
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Acc
    Bid price
    129.90p
    Offer price
    131.10p
    Absolute change
    0.0019
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Inc
    Bid price
    67.75p
    Offer price
    68.42p
    Absolute change
    -0.0002
    Currency
    GBP
    Price time
    12:00 UK time

    For valuations and account queries contact:

    Legal & General (Unit Trust Managers) Limited
    PO Box 6080
    Wolverhampton
    WV1 9RB
    Tel : 0370 050 0955
    Email: [email protected]

    Legal & General ICAV
    LGIM Liquidity Funds Plc

    Northern Trust International Fund Administration Services (Ireland) Limited
    City East Plaza - Block A
    Towlerton
    Ballysimon Road
    Limerick
    Ireland
    V94 X2N9
    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

    Issued by LGIM Managers (Europe) Limited as management company for this fund. Registered in Ireland No. 609677. Registered Office: 33/34 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Authorised and Regulated by the Central Bank of Ireland No. C173733.

    Legal & General Investment Management Limited has been appointed as the discretionary investment manager for these Funds and 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

    Neither Markit, its Affiliates or any third party data provider makes any warranty, express or implied, as to the accuracy, completeness or timeliness of the data contained herewith nor as to the results to be obtained by recipients of the data. Neither Markit, its Affiliates nor any data provider shall in any way be liable to any recipient of the data for any inaccuracies, errors or omissions in the Markit data, regardless of cause, or for any damages (whether direct or indirect) resulting therefrom. Markit has no obligation to update, modify or amend the data or to otherwise notify a recipient thereof in the event that any matter stated herein changes or subsequently becomes inaccurate. Without limiting the foregoing, Markit, its Affiliates, or any third party data provider shall have no liability whatsoever to you, whether in contract (including under an indemnity), in tort (including negligence), under a warranty, under statute or otherwise, in respect of any loss or damage suffered by you as a result of or in connection with any opinions, recommendations, forecasts, judgments, or any other conclusions, or any course of action determined, by you or any third party, whether or not based on the content, information or materials contained herein. Copyright © 2020, Markit Indices GmbH.