PMCs

Unit-Linked Life Insurance

GBP Corporate Bond BBB With Fallen Angels Fund

Fund codeCCAR

Fund aim

The investment objective of the fund is to track the performance of the Markit iBoxx £ Non-Gilts BBB & Fallen Angels Index within +/-0.50% p.a. for two years out of three.

Fund characteristics

The fund employs an index tracking strategy, aiming to replicate the performance of its benchmark. We follow a pragmatic approach to managing index funds, either investing directly in the securities of that index, or indirectly through other LGIM funds.

Fund facts

Fund size£1.3m
Base currencyGBP
DomicileUnited Kingdom
Share class launch02/05/17
Modified duration6.15 years
Gross redemption yield (unhedged)5.46%
As at 31 Dec 2023

Benchmark

Markit iBoxx £ Non-Gilts BBB & Fallen Angels Index

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:02 May 2017
Benchmark:Markit iBoxx £ Non-Gilts BBB & Fallen Angels Index
Share class launch date:02 May 2017
Benchmark:Markit iBoxx £ Non-Gilts BBB & Fallen Angels Index
    Share class launch date:02 May 2017
    Benchmark:Markit iBoxx £ Non-Gilts BBB & Fallen Angels Index

    Portfolio breakdown

    As at 31 Dec 2023

    Top 10 holdings6.6%
    Rest of portfolio93.4%
    No. of issuers in fund190
    No. of issuers in index194

    Top 10 holdings (%)

    Electricite De France 6.125% 02 Jun 340.8
    Electricite De France 5.5% 17 Oct 410.8
    Italy Govt Intl Bd 6% 04 Aug 280.7
    Enel Finance Intl 5.75% 14 Sep 400.7
    United Kingdom Gilt 0.875% 31 Jul 330.7
    At&T 7% 30 Apr 400.6
    Electricite De France 6% 23 Jan 140.6
    United Kingdom Gilt 1.25% 22 Jul 270.6
    BP Capital Markets 4.25% 31 Dec 990.6
    Lloyds Banking Group 2.707% 03 Dec 350.5

    Sector (%)

    Utilities
    28.7
    Core Financials
    25.4
    Telecommunications
    9.4
    Industrials
    6.3
    Real Estate
    5.3
    Consumer Goods
    4.8
    Consumer Services
    4.5
    Abs
    3.0
    Financial Services
    2.7
    Other
    10.0

    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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