SICAV (UCITS compliant)

L&G Euro Corporate Bond (Responsible Exclusions) Fund

Fund facts

Fund size
€315.3m
Base currency
EUR
Launch date
21 Oct 2019
Domicile
Luxembourg
Share class launch

Statistics

As at 30 Sep 2020

Fund aim

The objective of the Fund is to provide a combination of growth and income by outperforming the Markit iBoxx Euro Corporates Total Return index, the "Benchmark Index". The Fund aims to outperform the Benchmark Index by 0.5% per annum. This objective is before the deduction of any charges and measured over rolling three year periods.The Fund will generate investment return whilst excluding companies on the Responsible Exclusions list. The exclusion criteria applied to generate this list, is detailed in the investment policy.

Benchmark

Markit iBoxx Euro Corporates Total Return Index

  • What does it invest in? Invests in a broad range of bonds and bond-related instruments denominated in Euro, Sterling and US Dollar, with at least 70% invested in a portfolio of Euro denominated bonds. Invests at least 70% in corporate bonds.
  • 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 on a limited basis, as well as derivative instruments. Will exclude companies on the Responsible Exclusions list described on the fund's Key Investor Information Document.

Fund updates

Portfolio

As at 30 Sep 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

Currency (%)

EUR97.8
GBP1.4
USD0.9
Top 10 issuers21.2
Rest of portfolio78.8
No. of issuers146

Top 10 issuers (%)

Bundesrepublik Deutschland6.9
Orange SA1.9
UBS AG1.8
BP plc1.7
Vonovia Finance BV1.7
Caisse Nationale De Credit Agricole1.6
Tesco Plc1.5
Banque Federative Du Credit Mutuel1.5
Medtronic Inc1.4
Intesa Sanpaolo Spa1.3

Credit rating (%)

FundBenchmarkRelative
AAA6.90.26.7
AA2.65.3-2.7
A28.035.3-7.3
BBB53.958.0-4.1
BB4.61.23.4
B0.3-0.3
Cash3.8-3.8

Top sector over/underweights (%)

FundBenchmarkRelative
Sovereign7.60.07.5
Cash and Equivalents3.8-3.8
Real Estate7.84.63.1
Consumer Services6.53.92.6
Financial Services3.52.31.2
Insurance5.34.50.7
Telecommunications7.06.80.2
Technology3.23.10.2
Index0.0-0.0
Utilities9.59.9-0.4
Health Care5.16.3-1.2
Oil & Gas4.15.5-1.3
Basic Materials1.32.8-1.5
Industrials5.08.9-3.9
Banks22.527.6-5.1
Consumer Goods7.913.9-5.9

Fund Managers

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.

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).

LanWu

MarcRovers

Literature

Prices

Name
I EUR Acc
Mid price
102.25c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
R EUR Acc
Mid price
100.57c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
K EUR Acc
Mid price
102.63c
Change (%)
-
Currency
EUR
Price time
16:00 CET
Name
Z EUR Acc
Mid price
102.54c
Change (%)
-
Currency
EUR
Price time
16:00 CET

Further details

Costs

Price basis
Single swing
Initial charge
0.00%
Ongoing charges figure
0.36%
Dilution adjustment
0.524%
Swing factor
0.262%

Codes

ISIN
LU2050551006
SEDOL
BKDYQ22
Bloomberg
LGECPIE LX
MEX
-

Dealing information

Valuation frequency
Daily, 16:00 CET
Dealing frequency
Daily
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.

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

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