PMCs

Unit-Linked Life Insurance

AAA-AA Fixed Interest Over 15 Year Targeted Duration Fund

Fund aim

The fund aims to produce a total return in line with the performance of a subset of the FTSE Actuaries UK Conventional Gilts Over 15 Years Index, this being the gilts with maturities of 15 to 35 years and capture the yield spread over gilts of AAA-AA rated fixed interest securities.

Fund characteristics

This passively managed fund follows a buy and maintain strategy and provides an alternative to the Over 15 Year Gilt Index Fund through exposure to AAA-AA corporate bonds that are, following issue, constituents of the Markit iBoxx £ Non-Gilts Sovereign & Sub-Sovereign AAA-AA Over 15 Years Index. The fund may also hold gilts to provide liquidity and to ensure that the fund's duration remains within tolerance of the FTSE Actuaries UK Conventional Gilts 15-35 Years Index.

Fund facts

Fund size£183.2m
Base currencyGBP
DomicileUnited Kingdom
Share class launch17/11/99
Modified duration16.02 years
Gross redemption yield (unhedged)4.41%
As at 31 Dec 2023

Performance

Source: LGIM. Performance is reported in GBP based on weekly mid-market prices before the deduction of fees.
Past performance is not a guide to future performance and the value of investments can go down as well as up.
Share class launch date:17 Nov 1999
Share class launch date:17 Nov 1999
    Share class launch date:17 Nov 1999

    Portfolio breakdown

    As at 31 Dec 2023

    Top 10 holdings79.7%
    Rest of portfolio20.3%
    No. of issuers in fund14

    Top 10 holdings (%)

    Lcr Finance 5.1% 07 Mar 5113.1
    Affordable Housing Fin 2.893% 11 Aug 4311.1
    Sncf Reseau 5% 11 Mar 5210.1
    European Investment Bank 5% 15 Apr 399.3
    EU Inv Bank 4.625% 12 Oct 549.2
    CPPIB Capital 1.625% 22 Oct 716.6
    United Kingdom Gilt 0.5% 22 Oct 615.9
    Sncf Reseau 4.83% 25 Mar 605.5
    EU Inv Bank 4.5% 07 Mar 445.3
    Jersey Intl Bond 3.75% 09 Jun 543.7

    Sector (%)

    Government
    82.5
    Social Infrastructure
    14.2
    Financial Services (Debt)
    3.3

    All data source LGIM unless otherwise stated. Totals may not sum due to rounding. In order to minimise transaction costs, the Fund will not always own all the assets that constitute the index and on occasion it will own assets that are not in the index.

    Fund managers

    LGIM Index Fund Management Team headshot

    LGIM Index Fund Management Team

    The Index Fund Management team comprises 25 fund managers, supported by two analysts. Management oversight is provided by the Global Head of Index Funds. The team has average industry experience of 15 years, of which seven years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.

    Literature

    Prices

    Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close, daily close, or daily midday basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.

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    Monthly price history

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    Please note that a maximum of 10 years price history is available.