Fund facts
Fund size
€65.3m
Base currency
EUR
Launch date
25 Nov 2013
Domicile
Luxembourg
Share class launch
Statistics
Modified duration
5.39 years
Gross redemption yield (unhedged)
0.89%
As at 31 Oct 2020
Fund aim
The objective of the Fund is to provide a combination of growth and income above that of the Markit iBoxx Euro Corporates Total Return Index, the “Benchmark Index”. The Fund is actively managed and aims to outperform the Benchmark Index by 0.75% per annum. This objective is before the deduction of any charges and measured over rolling three year periods.
Benchmark
Markit iBoxx Euro Corporates Total Return Index
Fund snapshot
- What does it invest in? Invests predominantly in fixed income securities including corporate bonds and other debt instruments, issued globally and denominated predominantly in Euros, but also in other currencies.
- How does it invest? Actively managed, investing primarily in fixed income securities 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, as well as derivatives.
Performance
Source: Lipper
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Performance (%)
Performance summary (%)
As at 31 Oct 2020
| Cumulative | Fund | Benchmark |
| 1 month | 0.78 | 0.79 |
| 6 months | 4.70 | 4.36 |
| Year to date | 2.87 | 1.54 |
| 3 years | 8.56 | 6.07 |
| 5 years | 16.50 | 14.07 |
| Since launch | 22.13 | - |
| Annualised | Fund | Benchmark |
| 1 year | 2.59 | 1.21 |
| 3 years | 2.77 | 1.98 |
| 5 years | 3.10 | 2.66 |
| Since launch | 3.13 | - |
As at 30 Sep 2020
| Cumulative | Fund | Benchmark |
| Quarterly | 1.91 | 1.98 |
| Year to date | 2.08 | 0.74 |
| 3 years | 8.82 | 6.36 |
| 5 years | 17.58 | 14.72 |
| Since launch | 21.19 | - |
| Annualised | Fund | Benchmark |
| 1 year | 1.66 | 0.23 |
| 3 years | 2.85 | 2.08 |
| 5 years | 3.29 | 2.78 |
| Since launch | 3.05 | - |
Rolling 12-month performance to last quarter end (%)
| 12 months to 30 September | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Fund | 7.18 | 0.81 | 0.26 | 6.75 | 1.67 |
| Benchmark | 7.36 | 0.46 | -0.04 | 6.16 | 0.23 |
Calendar year performance (%)
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Fund | 0.36 | 4.53 | 2.57 | -0.50 | 6.47 |
| Benchmark | -0.66 | 4.72 | 2.37 | -1.29 | 6.29 |
Monthly performance (%)
Annualised performance (%)
| 1 year | 3 years | 5 years | Since launch | |
|---|---|---|---|---|
| Fund | 2.59 | 2.77 | 3.10 | 3.13 |
| Benchmark | 1.21 | 1.98 | 2.66 | - |
Annualised performance (%)
| 1 year | 3 years | 5 years | Since launch | |
|---|---|---|---|---|
| Fund | 1.66 | 2.85 | 3.29 | 3.05 |
| Benchmark | 0.23 | 2.08 | 2.78 | - |
Performance for the unit class in GBP, 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 I EUR Acc unit class in EUR, launched on 07 May 2014. 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 EUR Dist unit class in EUR, 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 Acc unit class in EUR, launched on 25 July 2014. 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 Dist unit class in EUR, launched on 01 August 2014. 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 EUR Acc unit class in EUR, launched on 25 July 2014. 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 EUR Dist unit class in EUR, launched on 25 July 2014. 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 X EUR Acc unit class in EUR, 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 X EUR Dist unit class in EUR, 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 EUR Acc unit class in EUR, launched on 21 March 2019. 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 EUR Dist unit class in EUR, launched on 25 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 GBP (Unhedged) Acc unit class in GBP, launched on 27 June 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 Z USD (Unhedged) Acc unit class in USD, launched on 27 June 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.
Portfolio
As at 31 Oct 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Currency (%)
| EUR | 98.7 | |
| GBP | 0.8 | |
| USD | 0.6 |
This is the currency breakdown before allowing for any hedging the fund may use. We aim to hedge the portfolio 100% back to the base currency.
| Top 10 issuers | 22.1 | |
| Rest of portfolio | 77.9 |
| No. of issuers | 149 |
Top 10 issuers (%)
| Bundesrepublik Deutschland | 6.6 |
| Caisse Nationale De Credit Agricole | 2.1 |
| Orange SA | 2.0 |
| AT&T Inc | 1.8 |
| Verizon Communications Inc | 1.7 |
| BP plc | 1.7 |
| Vonovia Finance BV | 1.7 |
| Fidelity National Information Services | 1.6 |
| JAB Holdings B.V. | 1.5 |
| Intesa Sanpaolo Spa | 1.5 |
Fund Managers
Marc is head of the Euro credit portfolio management team. He joined LGIM in May 2012 as a portfolio manager in the Pan European Credit team. Marc previously spent 12 years at Blackrock, first as a senior portfolio manager within Philips Investment Management in Eindhoven and then as Director, Investment Manager in London, where he was responsible for the non-financials management of investment grade portfolios and was a portfolio manager for two Asian credit portfolios. Marc started in the industry in 1995 as a portfolio manager at ABP investments (now APG). He graduated from Tilburg University, Netherlands with an MSc in economics and is a Certified European Financial Analyst (CEFA).
Lan is a euro credit portfolio manager in the Pan European Credit team, having joined LGIM in September 2010 as assistant to the fund manager. Previously Lan was at Hedge Funds Investment Management where she worked as a part-time research analyst in their Investment team. Prior to this, Lan completed internships with China Lion Securities in China, in their investment banking department, and with UBS, London where she worked in their fixed income, currencies and commodities division. Lan holds a MMath in mathematics and statistics from Oxford University as well as an MSc in finance at Imperial College London. Lan is a CFA charterholder.
MarcRovers
LanWu
Literature
Key literature
Fact sheet
31 Oct 2020
Fact sheet
31 Oct 2020
Fact sheet
31 Oct 2020
Fact sheet
31 Mar 2018
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
13 Aug 2020
KIID
13 Aug 2020
KIID
21 Nov 2018
KIID
13 Aug 2020
KIID
10 Jul 2017
KIID
10 Jul 2017
KIID
13 Aug 2020
KIID
28 Apr 2020
KIID
13 Aug 2020
KIID
13 Aug 2020Prospectus
01 Sep 2019Fact sheets
2020Change date
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.
Name
I EUR Acc
Mid price
123.73c
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
R EUR Acc
Mid price
120.55c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
R EUR Inc
Mid price
114.60c
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
P EUR Inc
Mid price
114.63c
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 Acc
Mid price
112.71p
Change (%)
-
Currency
GBP
Price time
16:00 CET
Name
Z EUR Acc
Mid price
108.79c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
Z EUR Inc
Mid price
119.25c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
Z USD Acc
Mid price
114.42c
Change (%)
-
Currency
USD
Price time
16:00 CET
Further details
Costs
Price basis
Single swing
Initial charge
0.00%
Ongoing charges figure
0.36%
Dilution adjustment
0.504%- round trip
Swing factor
0.252%
Codes
ISIN
LU0984223668
SEDOL
-
Bloomberg
LGECBIA 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.
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 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
Neither Markit, its Affiliates or any third party data provider makes any warranty, express or implied, as to the accuracy, completeness or timeliness of the data contained herewith nor as to the results to be obtained by recipients of the data. Neither Markit, its Affiliates nor any data provider shall in any way be liable to any recipient of the data for any inaccuracies, errors or omissions in the Markit data, regardless of cause, or for any damages (whether direct or indirect) resulting therefrom. Markit has no obligation to update, modify or amend the data or to otherwise notify a recipient thereof in the event that any matter stated herein changes or subsequently becomes inaccurate. Without limiting the foregoing, Markit, its Affiliates, or any third party data provider shall have no liability whatsoever to you, whether in contract (including under an indemnity), in tort (including negligence), under a warranty, under statute or otherwise, in respect of any loss or damage suffered by you as a result of or in connection with any opinions, recommendations, forecasts, judgments, or any other conclusions, or any course of action determined, by you or any third party, whether or not based on the content, information or materials contained herein. Copyright © 2020, Markit Indices GmbH.
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