Unit Trust (UCITS compliant)

Legal & General Managed Monthly Income Trust

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.

Fund facts

Fund size
£414.5m
Base currency
GBP
Launch date
20 Oct 1997
Domicile
UK
Share class launch

Statistics

Distribution yield
2.6%
Modified duration
8.45 years

As at 30 Sep 2019

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

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
0.70%

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

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Sep 2019

    Cumulative Fund Benchmark
    1 month -0.28 0.03
    6 months 6.35 6.12
    Year to date 11.31 11.24
    3 years 11.58 11.30
    5 years 33.49 34.00
    Since launch - -
    Annualised Fund Benchmark
    1 year 10.61 10.98
    3 years 3.72 3.63
    5 years 5.94 6.03
    Since launch - -

    As at 30 Sep 2019

    Cumulative Fund Benchmark
    Quarterly 3.53 3.72
    Year to date 11.31 11.24
    3 years 11.58 11.30
    5 years 33.49 34.00
    Since launch - -
    Annualised Fund Benchmark
    1 year 10.61 10.98
    3 years 3.72 3.63
    5 years 5.94 6.03
    Since launch - -
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 30 September 2015 2016 2017 2018 2019
    Fund 4.08 14.95 0.24 0.63 10.61
    Benchmark 3.86 15.93 0.27 0.02 10.98

    Calendar year performance (%)

    2014 2015 2016 2017 2018
    Fund 12.02 0.27 10.74 6.24 -2.24
    Benchmark 12.25 0.57 11.84 5.02 -2.22

    Monthly performance (%)

    Annualised performance (%)

    1 year 3 years 5 years Since launch
    Fund 10.61 3.72 5.94 -
    Benchmark 10.98 3.63 6.03 -

    Annualised performance (%)

    1 year 3 years 5 years Since launch
    Fund 10.61 3.72 5.94 -
    Benchmark 10.98 3.63 6.03 -

    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 Sep 2019. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Currency (%)

    GBP 97.5
    USD 1.7
    EUR 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.

    Years to maturity (%)

    0 to 5 21.4
    5 to 10 29.9
    10 to 15 17.6
    15 to 20 13.9
    20 to 25 7.8
    25 to 30 5.8
    30 + 3.6

    Credit rating (%)

    AAA 0.3
    AA 10.4
    A 28.3
    BBB 53.2
    BB 5.7
    NR 1.2
    Cash 0.9

    Sector (%)

    Utilities 23.2
    Banks 20.5
    Insurance 12.2
    Telecommunications 7.8
    ABS 7.6
    Consumer Goods 5.8
    Sovereign 5.1
    Financial Services 4.7
    Industrials 4.6
    Other 8.6
    Top 10 issuers 30.5
    Rest of portfolio 69.5
    No. of issuers 123

    Top 10 issuers (%)

    HSBC Holdings plc 4.2
    United Kingdom 4.2
    Wells Fargo & Company 3.9
    Lloyds Banking Group plc 3.7
    EDF SA 2.9
    Aviva plc 2.8
    AT&T Inc 2.5
    United Utilities Water plc 2.2
    Henkel 2.1
    General Electric Co 2.1

    Country (%)

    United Kingdom 59.8
    United States 20.8
    France 7.9
    Germany 3.9
    Netherlands 2.1
    Italy 1.0
    Spain 0.9
    Channel Islands 0.9
    Mexico 0.7
    Other 2.1

    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.

    Mark Benstead

    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
    140.10p
    Offer price
    141.00p
    Absolute change
    0.0042
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    I GBP Inc
    Bid price
    68.15p
    Offer price
    68.66p
    Absolute change
    0.002
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    F GBP Acc
    Bid price
    134.90p
    Offer price
    135.90p
    Absolute change
    0.004
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    F GBP Inc
    Bid price
    68.84p
    Offer price
    69.35p
    Absolute change
    0.0021
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Acc
    Bid price
    129.20p
    Offer price
    130.10p
    Absolute change
    0.0038
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Inc
    Bid price
    68.07p
    Offer price
    68.58p
    Absolute change
    0.002
    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
    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

    The Markit iBoxx index referenced herein is the intellectual property of Markit Indices Limited (“Markit”) and is used under license. The Fund is not sponsored, endorsed, or promoted by Markit. Markit makes no representations or warranties as to the index including those of merchantability or fitness for a particular purpose or use, or the accuracy and/or completeness of the index or any data included therein.