Core Plus Fund
Unit-Linked Life Insurance
Core Plus Fund
Fund codeTD
Fund codeTD
Fund aim
Fund characteristics
Fund facts
Fund size | £367.0m |
Base currency | GBP |
Domicile | United Kingdom |
Share class launch | 30/04/08 |
Modified duration | 6.08 years |
Gross redemption yield (unhedged) | 5.20% |
Benchmark
Markit iBoxx £ Non-Gilts Total Return Index
Performance
Portfolio breakdown
As at 31 Dec 2023
Top 10 issuers | 33.0% |
---|---|
Rest of portfolio | 67.0% |
No. of issuers | 198 |
---|
Top 10 issuers (%)
United Kingdom | 11.2 |
European Investment Bank | 5.0 |
BNP Paribas | 3.0 |
HSBC Holdings | 2.7 |
Citigroup | 2.2 |
Credit Agricole Group | 2.1 |
Volkswagen | 1.7 |
Toronto-Dominion Bank | 1.7 |
Credit Mutuel | 1.7 |
Lloyds Banking Group | 1.6 |
Currency (%)
GBP | 92.4 |
EUR | 4.3 |
USD | 3.4 |
Top 10 issuers | 33.0% |
---|---|
Rest of portfolio | 67.0% |
No. of issuers | 198 |
---|
Top 10 issuers (%)
United Kingdom | 11.2 |
European Investment Bank | 5.0 |
BNP Paribas | 3.0 |
HSBC Holdings | 2.7 |
Citigroup | 2.2 |
Credit Agricole Group | 2.1 |
Volkswagen | 1.7 |
Toronto-Dominion Bank | 1.7 |
Credit Mutuel | 1.7 |
Lloyds Banking Group | 1.6 |
Currency (%)
GBP | 92.4 |
EUR | 4.3 |
USD | 3.4 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
AAA | 7.0 | 21.2 | -14.2 | |
AA | 17.1 | 13.4 | 3.7 | |
A | 29.8 | 29.3 | 0.5 | |
BBB | 39.6 | 36.0 | 3.6 | |
BB | 5.1 | 0.0 | 5.0 | |
B | 0.4 | - | 0.4 | |
NR | -0.2 | 0.1 | -0.3 | |
Cash | 1.3 | - | 1.3 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Banks | 32.6 | 20.7 | 11.9 | |
Real Estate | 4.6 | 3.2 | 1.5 | |
Cash and Equivalents | 1.3 | - | 1.3 | |
Consumer Goods | 5.8 | 4.6 | 1.2 | |
Consumer Services | 4.2 | 3.2 | 1.0 | |
ABS | 9.2 | 8.6 | 0.5 | |
Telecommunications | 4.4 | 3.9 | 0.5 | |
Financial Services | 2.9 | 2.6 | 0.2 | |
Insurance | 4.3 | 4.6 | -0.3 | |
Basic Materials | - | 0.4 | -0.4 | |
Technology | 0.1 | 0.7 | -0.6 | |
Unknown | -0.1 | 0.7 | -0.8 | |
Oil & Gas | 0.5 | 1.3 | -0.8 | |
Health Care | 0.6 | 1.4 | -0.8 | |
Covered | 0.6 | 1.7 | -1.2 | |
Industrials | 2.0 | 3.5 | -1.5 | |
Utilities | 9.7 | 12.5 | -2.8 | |
Sovereign | 17.3 | 26.2 | -8.9 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Colin Reedie
Colin is co-Head of Global Fixed Income and has responsibility for the London based fixed income team as well as overall portfolio management responsibilities for our Global Credit and Absolute Return strategies. Colin joined LGIM in 2005 from Henderson Global Investors where he was Head of Investment Grade Credit Fund Management. He has over 30 years’ experience in bond markets, specialising in non-government debt, and he has previously worked for Henderson Global Investors, Scottish Widows and Scottish Amicable.
Matthew Rees
Matthew was appointed Head of Global Bond Strategies in September 2019. Prior to this he was co-head of the Euro credit portfolio management team, responsible for Euro-benchmarked and absolute return funds. He joined LGIM in March 2009 as a senior research analyst responsible for covering financial institutions and joined the Euro credit portfolio management team in February 2011. Prior to this Matthew spent three years as a Partner at Banquo Credit Management (a multibillion euro absolute return investment manager) and four years at UBS as Head of Financial Institutions Ratings Advisory. Matthew has more than 20 years’ experience in financial services and graduated from the University of York with a BA (hons) in English. He qualified as a chartered accountant with Coopers & Lybrand in 1996.
Literature
Document type
Prices
Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
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