Cash Fund
Unit-Linked Life Insurance
Cash Fund
Fund codeAR
Fund codeAR
Fund aim
Fund characteristics
The value of the fund’s assets could fall if a deposit holder/the UK Government were unable to meet their obligations, if there were sudden, sharp movements in interest rates or in the event of a negative interest rate environment. Exposure to the uncertainty of future interest rates is mitigated by limiting the maximum maturity for an individual deposit to the 4th valuation point from the current valuation day. Liquidity is provided by having a minimum of 40% of the fund value maturing to the next valuation point (which typically is within 7 days). Counterparties are regularly reviewed by an internal LGIM committee, and counterparty and geographic exposure limits assigned. The fund may also provide other PMC funds with overnight funding. Normally this will not exceed 10% of the fund. Monies lent will receive a comparable or better market rate of interest.
Fund facts
Fund size | £1,351.4m |
Base currency | GBP |
Domicile | United Kingdom |
Share class launch | 01/07/96 |
Weighted average maturity | 23 days |
Reference
SONIA
Performance
Please note that with effect from 30 September 2021 the reference index was amended from 7 Day GBP LIBID. The benchmark displayed in the tables opposite is a composite of the previous index and the current index which have been chain linked for reporting purposes.
Please note that with effect from 30 September 2021 the reference index was amended from 7 Day GBP LIBID. The benchmark displayed in the tables opposite is a composite of the previous index and the current index which have been chain linked for reporting purposes.
Please note that with effect from 30 September 2021 the reference index was amended from 7 Day GBP LIBID. The benchmark displayed in the tables opposite is a composite of the previous index and the current index which have been chain linked for reporting purposes.
Portfolio breakdown
As at 31 Dec 2023
Top 10 issuers | 100.0% |
---|---|
Rest of portfolio | 0.0% |
Top 10 issuers (%)
UK Government | 56.8 |
Nationwide Building Society | 8.2 |
PMC Loan | 8.2 |
Bank of Tokyo Mitsubishi | 8.1 |
BNP Paribas | 3.7 |
Sumitomo Mitsui Banking | 3.7 |
Mizuho Corporate Bank | 3.7 |
Goldman Sachs | 3.7 |
Jyske Bank | 3.7 |
Cash | 0.1 |
Country (%)
United Kingdom | 73.2 |
Japan | 15.6 |
France | 3.7 |
United States | 3.7 |
Denmark | 3.7 |
Top 10 issuers | 100.0% |
---|---|
Rest of portfolio | 0.0% |
Top 10 issuers (%)
UK Government | 56.8 |
Nationwide Building Society | 8.2 |
PMC Loan | 8.2 |
Bank of Tokyo Mitsubishi | 8.1 |
BNP Paribas | 3.7 |
Sumitomo Mitsui Banking | 3.7 |
Mizuho Corporate Bank | 3.7 |
Goldman Sachs | 3.7 |
Jyske Bank | 3.7 |
Cash | 0.1 |
Country (%)
United Kingdom | 73.2 |
Japan | 15.6 |
France | 3.7 |
United States | 3.7 |
Denmark | 3.7 |
Days to maturity (%)
0 to 7 days | 32.0 |
7 days to 1 month | 33.4 |
1 to 3 months | 34.6 |
Credit rating (%)
AA | 56.8 | |
A+ | 15.6 | |
A | 19.3 | |
Cash | 0.1 | |
PMC Loan | 8.2 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Liquidity Management
Liquidity Management (within Global Trading and Liquidity) forms a strategic part of our asset management capability incorporating liquidity and short duration portfolios as well as securities financing.
Literature
Document type
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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