Fund facts
Fund size
$257.6m
Base currency
USD
Launch date
29 Nov 2013
Domicile
Luxembourg
Share class launch
Statistics
Modified duration
1.81 years
As at 31 Oct 2020
Fund aim
The objective of the Fund is to provide a combination of growth and income above those of the ICE BofA USD 3 Month Deposit Offered Rate Constant Maturity Total Return Index, the "Benchmark Index". The Fund is actively managed and aims to outperform the Benchmark Index by 3.5% per annum.The Fund aims to generate positive returns in all market conditions. The Fund has a higher performance target than that of the L&G Absolute Return Bond Fund.The objective is before the deduction of any charges and measured over rolling three year periods. There can be no assurance that the Fund will achieve its investment objective.
Benchmark
ICE BofA USD 3 Month Deposit Offered Rate Constant Maturity Total Return Index
Fund snapshot
- What does it invest in? Invests predominantly in fixed income securities, including bonds and other debt instruments, issued in in a variety of currencies by companies and governments worldwide.
- How does it invest? Actively managed, investing primarily in debt with an investment grade (lower risk) credit rating. May also invest in debt with a sub-investment grade (higher risk) credit rating or unrated bonds. Will use derivatives extensively for investment purposes or for efficient portfolio management.
Performance
Source: Lipper
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Performance (%)
Performance summary (%)
As at 31 Oct 2020
| Cumulative | Fund | Benchmark |
| 1 month | 0.96 | -0.05 |
| 6 months | 8.25 | -0.17 |
| Year to date | - | - |
| 3 years | - | - |
| 5 years | - | - |
| Since launch | 1.70 | -0.04 |
| Annualised | Fund | Benchmark |
| 1 year | - | - |
| 3 years | - | - |
| 5 years | - | - |
| Since launch | 2.45 | - |
As at 30 Sep 2020
| Cumulative | Fund | Benchmark |
| Quarterly | 1.66 | -0.12 |
| Year to date | - | - |
| 3 years | - | - |
| 5 years | - | - |
| Since launch | 0.73 | 0.02 |
| Annualised | Fund | Benchmark |
| 1 year | - | - |
| 3 years | - | - |
| 5 years | - | - |
| Since launch | 1.20 | - |
Rolling 12-month performance to last quarter end (%)
| 12 months to 30 September | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Fund | - | - | - | - | - |
| Benchmark | - | - | - | - | - |
Calendar year performance (%)
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Fund | - | - | - | - | - |
| Benchmark | - | - | - | - | - |
Monthly performance (%)
Annualised performance (%)
| 1 year | 3 years | 5 years | Since launch | |
|---|---|---|---|---|
| Fund | - | - | - | 2.45 |
| Benchmark | - | - | - | - |
Annualised performance (%)
| 1 year | 3 years | 5 years | Since launch | |
|---|---|---|---|---|
| Fund | - | - | - | 1.20 |
| Benchmark | - | - | - | - |
Performance for the I EUR (Hedged) unit class in EUR, launched on 20 February 2020. Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the I GBP (Hedged) Acc unit class in GBP, launched on 15 December 2016. Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the I USD Acc unit class in USD, launched on 06 March 2020. Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the I USD Dist unit class in USD, launched on . Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the P EUR (Hedged) Dist unit class in EUR, launched on 24 August 2018. Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the P USD Acc unit class in USD, launched on . Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the P USD Dist unit class in USD, launched on . Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the R USD Acc unit class in USD, launched on . Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the R USD Dist unit class in USD, launched on . Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the Z GBP (Hedged) Acc unit class in GBP, launched on 24 October 2016. Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the Z USD Acc unit class in USD, launched on 29 November 2013. Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Performance for the Z USD Dist unit class in USD, launched on 16 December 2015. Source: Lipper. Performance is calculated on a Net Asset Value (NAV) to NAV basis and assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
Past performance is not a guide to the future.
Portfolio
As at 31 Oct 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
This is the currency breakdown before allowing for any hedging the fund may use.
Credit exposure (net %)
Long Exposure
Short Exposure
Net Exposure
Sector (%)
| Banks | 16.2 | |
| Sovereign | 13.4 | |
| Cash and Equivalents | 10.3 | |
| Consumer Goods | 8.9 | |
| Oil & Gas | 7.4 | |
| Consumer Services | 6.5 | |
| Financial Services | 6.4 | |
| Utilities | 5.5 | |
| ABS | 5.1 | |
| Industrials | 4.3 | |
| Health Care | 3.7 | |
| Basic Materials | 3.3 | |
| Real Estate | 3.2 | |
| Technology | 2.0 | |
| Other | 4.0 |
| Top 10 issuers | 20.0 | |
| Rest of portfolio | 80.0 |
| No. of issuers | 636 |
Top 10 issuers (%)
| United States of America | 7.8 |
| BP plc | 1.8 |
| General Motors Co | 1.7 |
| Sierra Timeshare | 1.4 |
| Volkswagen Finance Luxemburg Sa | 1.4 |
| Pacific Gas & Electric Company | 1.3 |
| Teva Pharm Finance Llc | 1.3 |
| Caixa Geral De Depositos | 1.2 |
| Trafigura Securitisation finance plc | 1.2 |
| British American Tobacco plc | 1.1 |
Country (%)
| United States | 38.8 | |
| United Kingdom | 18.8 | |
| Germany | 3.7 | |
| Italy | 3.6 | |
| India | 2.6 | |
| China | 2.6 | |
| Ireland | 2.3 | |
| Cayman Islands | 2.3 | |
| Mexico | 2.0 | |
| Other | 23.4 |
Fund Managers
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 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.
ColinReedie
MatthewRees
Literature
Key literature
Fact sheet
31 Oct 2020
Fact sheet
31 Oct 2020
Fact sheet
31 Oct 2020
Fact sheet
31 Oct 2020
Fact sheet
31 Oct 2020
Fact sheet
31 Oct 2020
KIID
13 Aug 2020
KIID
28 Apr 2020
KIID
28 Apr 2020
KIID
28 Apr 2020
KIID
28 Apr 2020
KIID
28 Apr 2020
KIID
13 Aug 2020
KIID
28 Apr 2020
KIID
28 Apr 2020
KIID
21 Nov 2018
KIID
13 Aug 2020
KIID
13 Aug 2020Prospectus
01 Sep 2019Fact sheets
2020Change date
Marketing documents
Legal documents
Report and accounts
2020Change year
Annual Report and Accounts
31 Dec 2019Annual Report and Accounts
31 Dec 2018Annual Report and Accounts
31 Dec 2017Annual Report and Accounts
31 Dec 2016Annual Report and Accounts
31 Dec 2015Interim Report and Accounts
30 Jun 2020Interim Report and Accounts
30 Jun 2019Interim Report and Accounts
30 Jun 2018Interim Report and Accounts
30 Jun 2017Trading information
Prices
This share class is not currently pricing.
This share class is not currently pricing.
This share class is not currently pricing.
This share class is not currently pricing.
This share class is not currently pricing.
Name
I GBP Hedged Acc
Mid price
108.46p
Change (%)
-
Currency
GBP
Price time
16:00 CET
Name
I EUR Hedged Acc
Mid price
103.68c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
I USD Acc
Mid price
105.50c
Change (%)
-
Currency
USD
Price time
16:00 CET
Name
n/a
Mid price
n/a
Change (%)
n/a
Currency
n/a
Price time
n/a
Name
n/a
Mid price
n/a
Change (%)
n/a
Currency
n/a
Price time
n/a
Name
n/a
Mid price
n/a
Change (%)
n/a
Currency
n/a
Price time
n/a
Name
P EUR Hedged Inc
Mid price
102.70c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
n/a
Mid price
n/a
Change (%)
n/a
Currency
n/a
Price time
n/a
Name
n/a
Mid price
n/a
Change (%)
n/a
Currency
n/a
Price time
n/a
Name
Z GBP Hedged Acc
Mid price
111.13p
Change (%)
-
Currency
GBP
Price time
16:00 CET
Name
Z USD Acc
Mid price
123.87c
Change (%)
-
Currency
USD
Price time
16:00 CET
Name
Z USD Inc
Mid price
110.94c
Change (%)
-
Currency
USD
Price time
16:00 CET
Further details
Costs
Price basis
Single swing
Initial charge
0.00%
Ongoing charges figure
0.69%
Dilution adjustment
0.648%- round trip
Swing factor
0.324%
Codes
ISIN
LU0989308175
SEDOL
BL6THW8
Bloomberg
LGRBPIE LX
MEX
-
Dealing information
Valuation frequency
Daily, 16:00 CET
Dealing frequency
Each Business Day
Settlement period
T+3
Administrator/Custodian
Northern Trust
Country registration
This share class is registered for sale in the following countries:
For valuations and account queries contact:
Legal & General (Unit Trust Managers) Limited
PO Box 6080
Wolverhampton
WV1 9RB
Tel : 0370 050 0955
Email: [email protected]
Legal & General ICAV
LGIM Liquidity Funds Plc
Northern Trust International Fund Administration Services (Ireland) Limited
City East Plaza - Block A
Towlerton
Ballysimon Road
Limerick
Ireland
V94 X2N9
Fax: +353 1 434 5293
Telephone: +353 1 434 5080
Email: [email protected]
Legal & General SICAV
Northern Trust Global Services SE
6 rue Lou Hemmer
L-1748 Senningerberg
Grand-Duché de Luxembourg
Facsimile: +352 276 222 150
Telephone: +352 276 222 514
Email: [email protected]
Key risks
The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested.
Past performance is no guarantee of future results.
This fund holds bonds that are traded through agents, brokers or investment banks matching buyers and sellers. This makes the bonds less easy to buy and sell than investments traded on an exchange. In exceptional circumstances the fund may not be able to sell bonds and may defer withdrawals, or suspend dealing. The Directors can only delay paying out if it is in the interests of all investors and with the permission of the fund depositary.
The fund invests directly or indirectly in bonds which are issued by companies or governments. If these companies or governments experience financial difficulty, they may be unable to pay back some or all of the interest, original investment or other payments that they owe. If this happens, the value of the fund may fall.
Prices of the ABS/MBS may be volatile, and will generally fluctuate due to a variety of factors that are inherently difficult to predict. In addition, the terms of the ABS/MBS may restrict its sale in particular circumstances.
The fund could lose money if any institution providing services such as acting as counterparty to derivatives or other instruments, becomes unwilling or unable to meet its obligations to the fund.
Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains. The impact to the fund can be greater where derivatives are used in an extensive or complex way.
The fund may have underlying investments that are valued in currencies that are different from sterling (British pounds). Exchange rate fluctuations will impact the value of your investment. Currency hedging techniques may be applied to reduce this impact but may not entirely eliminate it.
We may take some or all of the ongoing charges from the fund's capital rather than the fund's income. This increases the amount of income, but it reduces the growth potential and may lead to a fall in the value of the fund.
Investment returns on bonds are sensitive to trends in interest rate movements. Such changes will affect the value of your investment.
Important information
This information is intended for investment professionals only and is for information purposes only. It should not be distributed without our permission.
No investment decisions should be made without first reviewing the key investor information document and prospectus (and any supplements thereto) of the relevant product which includes information on certain risks associated with an investment.
Unless otherwise agreed in writing, the Information on this website (a) is for information purposes only and we are not soliciting any action based on it, and (b) is not a recommendation to buy or sell securities or pursue a particular investment strategy; and (c) is not investment, legal, regulatory or tax advice. Any trading or investment decisions taken by you should be based on your own analysis and judgment (and/or that of your professional advisers) and not in reliance on us or the Information.
This information is only directed at investors resident in jurisdictions where each fund is registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.
All information detailed on this website is current at the time of publication and may be changed in the future.
Source and third party data
Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.
Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data
Issuer
Issued by Legal & General Investment Management Limited as promoter and distributor for this fund in the UK.
Legal & General Investment Management Limited has been appointed as the discretionary investment manager for these Funds and is Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised and regulated by the Financial Conduct Authority, No. 119272.
Index disclaimer
Source ICE data indices, LLC (“ICE data”), is used with permission. ICE data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates nor their respective third party suppliers shall be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and your use is at your own risk. ICE data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend LGIM, or any of its products or services.
Source ICE Data Indices, LLC (“ICE DATA”), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates nor their respective third party suppliers shall be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and your use is at your own risk. Ice data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend Legal & General Investment Management (Holdings) Limited or its affiliates, or any of their products or services.
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