Managed Property Fund
Unit-Linked Life Insurance
Managed Property Fund
Fund codeC
Fund codeC
Fund aim
Fund characteristics
Fund facts
Fund size | £3,227.0m |
Base currency | GBP |
Domicile | United Kingdom |
Share class launch | 07/06/71 |
Benchmark
MSCI/AREF UK Quarterly All Balanced Property Fund Index (UK PFI)
Performance
Please note that the name of the benchmark has been updated to reflect the MSCI acquisition of IPD Group
Please note that the name of the benchmark has been updated to reflect the MSCI acquisition of IPD Group
Please note that the name of the benchmark has been updated to reflect the MSCI acquisition of IPD Group
Portfolio breakdown
As at 31 Dec 2023
Top 10 direct holdings (£M)
Dunstable - Woodside Industrial Estate | Industrial - South East | 300-350 |
Brentford – West Cross Industrial Park | Industrial - South East | 150-200 |
Basingstoke - Kingsland Business Park | Industrial - South East | 100-150 |
London - Strand Island Site | Office - West End & Mid Town | 100-150 |
Newcastle - Into Newcastle University | Other UK Properties | 80-90 |
London - Yotel London Clerkenwell | Other UK Properties | 80-90 |
London - 76-88 Wardour Street | Office - West End & Mid Town | 70-80 |
Bedford - Interchange Retail Park | Retail Park | 60-70 |
Maidenhead - Tempo | Office - South East | 60-70 |
Manchester - One Piccadilly | Office - Rest of UK | 60-70 |
Top 10 direct holdings (£M)
Dunstable - Woodside Industrial Estate | Industrial - South East | 300-350 |
Brentford – West Cross Industrial Park | Industrial - South East | 150-200 |
Basingstoke - Kingsland Business Park | Industrial - South East | 100-150 |
London - Strand Island Site | Office - West End & Mid Town | 100-150 |
Newcastle - Into Newcastle University | Other UK Properties | 80-90 |
London - Yotel London Clerkenwell | Other UK Properties | 80-90 |
London - 76-88 Wardour Street | Office - West End & Mid Town | 70-80 |
Bedford - Interchange Retail Park | Retail Park | 60-70 |
Maidenhead - Tempo | Office - South East | 60-70 |
Manchester - One Piccadilly | Office - Rest of UK | 60-70 |
Asset (%)
Direct Property | 76.0 |
Indirect Property | 12.8 |
Cash and Other | 11.2 |
Sector (%)
Industrial - South Eastern | 37.1 |
Cash | 10.3 |
Retail warehouses | 9.7 |
Offices - Rest of South Eastern | 7.8 |
Offices - West End & Mid Town | 6.4 |
Offices - Rest of UK | 4.0 |
Standard retail – Rest of UK | 2.5 |
Shopping centres | 2.0 |
Standard retail – South East | 1.7 |
Other | 18.5 |
Region (%)
South East | 39.3 |
London | 26.2 |
Eastern | 7.4 |
North West | 5.7 |
West Midlands | 5.4 |
Yorks/Humber | 4.3 |
South West | 4.3 |
North East | 3.6 |
Scotland | 3.0 |
East Midlands | 0.7 |
Property characteristics
No. of assets | 65 |
No. of physical properties | 61 |
Void rate ex. development | 11.7% |
Average lease length | 6.5 years |
Average lot size | £40.2m |
Net initial yield | 4.8% |
Cash level | £361.4m |
Uncommitted cash | £278.4m |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
LGIM Property Fund Management Team
The Fund is managed by Rob Codling. The Fund team also includes an assistant fund manager and seven Asset Managers. This team is supported by LGIM RA’s wider platform capabilities in Transactions; Research; Sector Specialism; Sustainability; Derivatives; and Planning and Development.
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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