ICAV (UCITS compliant)

L&G Diversified USD Fund

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

Fund facts

Fund size
$124.9m
Base currency
USD
Launch date
24 Aug 2016
Domicile
Ireland
Share class launch

Statistics

As at 31 Jul 2020

Fund aim

The Fund aims to deliver long term capital growth through investment predominantly in other investment funds. The Fund aims to outperform the Secured Overnight Financing Rate (SOFR) (the "Cash Benchmark") by 3.75% per annum. This objective is before the deduction of any charges and measured over the long term (i.e. 5-10 years). However, the Fund is actively managed and the Investment Manager has full discretion over the composition of the Fund’s portfolio.

Benchmark

Cash benchmark: Secured Overnight Financing Rate +3.75%; Comparator benchmark: MSCI World Net Total Return USD Index

  • What does it invest in? Aims to have exposure to a globally diversified portfolio of company shares and related investments and bonds.
  • How does it invest? Actively managed, investing predominantly in other investment funds.

Fund updates

Performance

Source: Lipper

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Jul 2020

    CumulativeFundBenchmark
    1 month3.360.31
    6 months-2.332.07
    Year to date-2.102.52
    3 years--
    5 years--
    Since launch10.2213.21
    AnnualisedFundBenchmark
    1 year2.764.82
    3 years--
    5 years--
    Since launch4.385.62

    As at 30 Jun 2020

    CumulativeFundBenchmark
    Quarterly12.470.94
    Year to date-5.282.20
    3 years--
    5 years--
    Since launch6.6412.86
    AnnualisedFundBenchmark
    1 year0.165.02
    3 years--
    5 years--
    Since launch2.995.70
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 30 June 2016 2017 2018 2019 2020
    Fund---6.410.16
    Benchmark---6.025.03

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund----18.35
    Benchmark----5.93

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund2.76--4.38
    Benchmark4.82--5.62

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund0.16--2.99
    Benchmark5.02--5.70

    Performance for the C USD Acc unit class in USD, launched on 19 December 2016. 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. The Cash Benchmark of the Fund transitioned on 1 January 2020 as a result of the US Federal Reserve Board sponsored Alternative Reference Rates Committee recommendation. Until this date, performance is shown against the Fed Funds Effective Rate +3.75%. From 1 January 2020, performance is shown against SOFR +3.75% (referred to as the "Benchmark" in the chart above).

    Past performance is not a guide to the future.

    Performance for the I USD Acc unit class in USD, launched on 25 April 2018. 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. The Cash Benchmark of the Fund transitioned on 1 January 2020 as a result of the US Federal Reserve Board sponsored Alternative Reference Rates Committee recommendation. Until this date, performance is shown against the Fed Funds Effective Rate +3.75%. From 1 January 2020, performance is shown against SOFR +3.75% (referred to as the "Benchmark" in the chart above).

    Past performance is not a guide to the future.

    Performance for the Z USD Acc unit class in USD, launched on 24 August 2016. 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. The Cash Benchmark of the Fund transitioned on 1 January 2020 as a result of the US Federal Reserve Board sponsored Alternative Reference Rates Committee recommendation. Until this date, performance is shown against the Fed Funds Effective Rate +3.75%. From 1 January 2020, performance is shown against SOFR +3.75% (referred to as the "Benchmark" in the chart above).

    Past performance is not a guide to the future.

    Portfolio

    As at 31 Jul 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Asset allocation (%)

    Equities34.8
    Developed Corporate Bonds19.6
    Developed Government Bonds11.4
    Alternatives34.2

    Equities (%)

    North America Equity8.1
    Europe ex UK Equity6.3
    Emerging Market Equity5.4
    Japan Equity5.1
    Developed Small Cap Equity3.9
    Asia Pacific ex Japan Equity3.7
    UK Equity1.4
    Frontier Market Equity1.0

    Developed corporate bonds (%)

    USD Corporate Bonds11.0
    EUR Corporate Bonds7.0
    GBP Corporate Bonds1.5

    Government bonds (%)

    Developed government bonds (%)

    US Inflation-Protected Bonds3.5
    Developed (ex US ) Sovereign Debt3.3
    US Treasury Bonds3.0
    EUR Inflation-Linked Bonds1.0
    Index-Linked Gilts0.5

    Credit and emerging market debt (%)

    Alternatives (%)

    Global Real Estate*7.0
    Global High Yield6.2
    Emerging Market Sovereign Debt (local)6.2
    Infrastructure*5.9
    Emerging Market Sovereign Debt (USD)3.2
    Private Equity2.4
    Commodities**2.1
    Timberland/Farmland*1.0

    UK (%)

    Europe ex UK (%)

    North America (%)

    Japan (%)

    Asia Pacific ex Japan (%)

    Emerging markets (%)

    Energy (%)

    Grains (%)

    Industrial Metals (%)

    Precious Metals (%)

    Softs (%)

    Livestock (%)

    *Exposure through shares in listed vehicles. **Exposure through investing in funds that aim to provide a similar return to selected commodity indices. The underlying funds invest in derivatives to provide the return of the specified indices. Asset allocations are subject to change.

    Fund Manager

    LGIM Asset Allocation Team

    The Fund’s asset allocation is set and maintained by LGIM’s Asset Allocation team. The team has a wealth of experience in fund management, investment strategy and economics. They are responsible for a wide range of multi-asset funds and investment strategies across LGIM's client base. The Fund allows a broad range of investors to access this expertise.

    Literature

    Trading information

    Prices

    Name
    I USD Acc
    Mid price
    112.50c
    Change (%)
    -0.168604
    Currency
    USD
    Price time
    22:30 Irish time
    Name
    C USD Acc
    Mid price
    128.87c
    Change (%)
    -0.16269
    Currency
    USD
    Price time
    22:30 Irish time
    Name
    Z USD Acc
    Mid price
    126.58c
    Change (%)
    -0.165628
    Currency
    USD
    Price time
    22:30 Irish time

    Further details

    Costs

    Price basis
    Single - dilution levy
    Initial charge
    0.00%
    Ongoing charges figure
    0.35%
    Dilution levy
    0.23%- round trip
    Entry Anti-Dilution Levy
    0.12%
    Exit Anti-Dilution Levy
    0.11%

    Codes

    ISIN
    IE00BG0VVH86
    SEDOL
    BG0VVH8
    Bloomberg
    LGDUIUA ID
    MEX
    -

    Dealing information

    Valuation frequency
    Daily, 22:30 Irish time
    Dealing frequency
    Each Irish and UK Business Day
    Settlement period
    T+2
    Administrator/Custodian
    Northern Trust

    Country registration

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

    This sub-fund is only available in Jersey, Guernsey and Isle of Man, not the rest of UK.

    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.

    The fund invests directly or indirectly in bonds which are issued by companies or governments. If these companies or governments experience financial difficulty, they may be unable to pay back some or all of the interest, original investment or other payments that they owe. If this happens, the value of the fund may fall.

    By investing in other funds this fund indirectly holds bonds that are traded through agents, brokers or investment banks matching buyers and sellers. This makes the bonds less easy to buy and sell than investments traded on an exchange. In exceptional circumstances the fund may not be able to sell its holdings in other funds and may defer withdrawals, or suspend dealing. The Directors can only delay paying out if it is in the interests of all investors and with the permission of the fund depositary.

    The fund could lose money if any institution providing services such as acting as counterparty to derivatives or other instruments, becomes unwilling or unable to meet its obligations to the fund.

    Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains.

    The fund may have underlying investments that are valued in currencies that are different from sterling (British pounds). Exchange rate fluctuations will impact the value of your investment. Currency hedging techniques may be applied to reduce this impact but may not entirely eliminate it.

    We may take some or all of the ongoing charges from the fund's capital rather than the fund's income. This increases the amount of income, but it reduces the growth potential and may lead to a fall in the value of the fund.

    Investment returns on bonds are sensitive to trends in interest rate movements. Such changes will affect the value of your investment.

    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.