Collectives

Unit Trust (NURS non-complex)

Legal & General UK Property Feeder Fund

I-Class GBP Accumulation

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 currencyGBP
Fund launch date23 May 2014
DomicileUK
Share class launch23 May 2014
Historical yield3.4%
As at 31 Jan 2024
The fund size shown is of the Master Fund.

Costs

Initial charge0.00%
Ongoing charges figure0.75%
Bid / Offer spread1.04% - round trip

Fund ratings

Performance

Performance for the I Acc unit class in GBP, launched on 23 May 2014. 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. This fund was launched on 27 May 2014 following a restructure of the previous property unit trust. The performance shown combines the past performance of this fund with the performance of the equivalent class in the previous property unit trust. The IA Sector averages are inclusive of both PAIFs and Feeders in its calculation.
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.
During the period following the EU referendum (June to September 2016) the manager applied fair value adjustments to the property values in the fund. The fair value adjustments marked down the value of the properties to reflect what the manager believed to be fair value of the properties until the valuation agent regained confidence in the property valuations.
Share class launch date:23 May 2014
Share class launch date:23 May 2014
    Share class launch date:23 May 2014

    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

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

    Fund managers

    Michael Barrie headshot

    Michael Barrie

    Michael Barrie's award

    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 headshot

    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

    Prices

    Pricing information

    Price basisDual
    Price time12:00 UK time
    CurrencyGBP
    Monthly price history
    Please note that a maximum of 10 years price history is available.

    Codes and dealing

    Codes

    ISINGB00BK35F408
    SEDOLBK35F40
    BloombergLGPRFIA LN
    MEXLGAAHQ

    Dealing information

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

    Country registration

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

    United Kingdom