Legal & General UK Property Feeder Fund
Unit Trust (NURS non-complex)
Legal & General UK Property Feeder Fund
I-Class GBP Accumulation
ISINGB00BK35F408
Bid PriceOffer Price
ISINGB00BK35F408
Bid PriceOffer Price
Fund aim
The objective of this Fund is to provide a combination of income and capital growth by investing solely in the Legal & General UK Property Fund (the ‘Master Fund’). It may also hold cash where necessary to enable the making of payments to unit holders or creditors.
Fund snapshot
- What does it invest in? Invests in UK office, retail, industrial and residential property. May also invest in other UK property related investments, such as shares in property companies and real estate investment trusts as well as hold cash.
- How does it invest? Actively managed, aiming to solely invest in the Legal & General UK Property Fund but may also hold cash to maintain the liquidity of the fund.
Fund facts
Fund size | £1,190.7m |
Base currency | GBP |
Fund launch date | 23 May 2014 |
Domicile | UK |
Share class launch | 23 May 2014 |
Historical yield | 3.4% |
The fund size shown is of the Master Fund.
Costs
Initial charge | 0.00% |
Ongoing charges figure | 0.75% |
Bid / Offer spread | 1.04% - round trip |
Fund ratings
Performance
Portfolio breakdown
As at 31 Jan 2024
Top 10 holdings (£M)
Gateshead - Follingsby Park | 100-125 |
Leeds - Birstall Shopping Park, Birstall | 60-70 |
Stansted - Hampton By Hilton | 50-60 |
Chelmsford - One Canalside | 50-60 |
Manchester - North Tower, Deansgate Square | 40-50 |
Manchester - Malmaison | 30-40 |
Hammersmith - The Aircraft Factory | 30-40 |
Coleshill - Hams Hall - 170 (K+N) And 28 (Abb) | 20-30 |
Coleshill - Hams Hall - Tradeteam Distribution Unit | 20-30 |
London - 120 Aldersgate Street | 20-30 |
Top 10 holdings (£M)
Gateshead - Follingsby Park | 100-125 |
Leeds - Birstall Shopping Park, Birstall | 60-70 |
Stansted - Hampton By Hilton | 50-60 |
Chelmsford - One Canalside | 50-60 |
Manchester - North Tower, Deansgate Square | 40-50 |
Manchester - Malmaison | 30-40 |
Hammersmith - The Aircraft Factory | 30-40 |
Coleshill - Hams Hall - 170 (K+N) And 28 (Abb) | 20-30 |
Coleshill - Hams Hall - Tradeteam Distribution Unit | 20-30 |
London - 120 Aldersgate Street | 20-30 |
Asset (%)
Direct Property Asset Value | 82.8 |
Cash | 11.5 |
Real Estate Investment Trusts | 4.0 |
Reserved Cash (Developments) | 1.7 |
Sector (%)
Industrial | 39.2 |
Out of Town Retail | 13.7 |
Office - Regional | 12.0 |
Other - Build to Rent Residential | 10.0 |
Other - Hotel | 8.6 |
Office - London | 5.8 |
Leisure | 5.0 |
Other - Self Storage | 3.0 |
Retail High Street | 1.9 |
Other | 0.8 |
Region (%)
South East | 23.7 |
North West | 13.9 |
North East | 10.7 |
South West | 10.3 |
West Midlands | 10.0 |
Sub London | 8.0 |
Central London | 7.7 |
Yorkshire and Humberside | 6.3 |
Scotland | 4.2 |
Other | 5.2 |
Property characteristics
No. of assets | 62 |
No. of physical properties | 61 |
Void rate ex. development | 8.1% |
Average lease length | 5.7 years |
Average lot size | £16.4m |
Net initial yield | 5.5% |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Michael Barrie
Michael Barrie is co-fund manager for the UK Property Fund and is also a Director of Legal & General Property Division. He joined Legal & General Property in 2005 from F&C Property Asset Management. Michael is a member of the Royal Institution of Chartered Surveyors and has a postgraduate diploma in property investment from Reading University.
Matt Jarvis
Matt Jarvis joined Legal & General Property as an Asset Manager in November 2004 and is Co-Fund Manager of the UK Property Fund, having previously been a Commercial Valuer with Jones Lang LaSalle. Matt holds a degree in Land Management from Reading University and is a Member of the Royal Institution of Chartered Surveyors (MRICS).
Literature
Document type
Prices
Pricing information
Price basis | Dual |
Price time | 12:00 UK time |
Currency | GBP |
Download full price history
Codes and dealing
Codes
ISIN | GB00BK35F408 |
SEDOL | BK35F40 |
Bloomberg | LGPRFIA LN |
MEX | LGAAHQ |
Dealing information
Valuation frequency | Daily, 12pm (UK time) |
Dealing frequency | Daily |
Settlement period | T+4 |
Country registration
This share class is registered for sale in the following countries: