SICAV (UCITS compliant)

L&G UK Core Plus Bond Fund

Fund facts

Fund size
£1,233.1m
Base currency
GBP
Launch date
13 Mar 2014
Domicile
Luxembourg
Share class launch

Statistics

Modified duration
8.40 years
Gross redemption yield (unhedged)
1.97%

As at 30 Sep 2020

Fund aim

The objective of the Fund is to provide a combination of growth and income above those of the Markit iBoxx Non-Gilt All stocks Total Return Index, the "Benchmark Index". The Fund is actively managed and aims to outperform the Benchmark Index by 1.15% per annum. This objective is before the deduction of any charges and measured over rolling three year periods.

Benchmark

Markit iBoxx Non-Gilt All Stocks Total Return index

  • What does it invest in? Invests predominantly in fixed income securities, including bonds and other debt instruments, issued in Sterling, Euro and US dollar by companies and governments.
  • 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, as well as derivatives.

Fund updates

Performance

Source: Lipper

LIBOR is changing: read more on how future reforms of interbank offered rates may affect your investments with us.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Sep 2020

    CumulativeFundBenchmark
    1 month0.910.56
    6 months11.508.19
    Year to date5.514.54
    3 years16.6514.56
    5 years32.3930.33
    Since launch45.68-
    AnnualisedFundBenchmark
    1 year5.383.81
    3 years5.264.63
    5 years5.775.44
    Since launch5.91-

    As at 30 Sep 2020

    CumulativeFundBenchmark
    Quarterly1.921.16
    Year to date5.514.54
    3 years16.6514.56
    5 years32.3930.33
    Since launch45.68-
    AnnualisedFundBenchmark
    1 year5.383.81
    3 years5.264.63
    5 years5.775.44
    Since launch5.91-
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    12 months to 30 September 2016 2017 2018 2019 2020
    Fund14.52-0.900.2810.365.40
    Benchmark14.00-0.200.1610.173.82

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund1.0410.994.37-1.7910.35
    Benchmark0.4910.654.32-1.519.27

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund5.385.265.775.91
    Benchmark3.814.635.44-

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund5.385.265.775.91
    Benchmark3.814.635.44-

    Performance for the Z GBP Acc unit class in GBP, launched on 13 March 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 Z GBP Dist unit class in GBP, launched on 26 March 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 Z USD (Unhedged) Acc unit class in USD, launched on 06 July 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 30 Sep 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Currency (%)

    GBP80.3
    USD13.9
    EUR5.9

    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 issuers27.9
    Rest of portfolio72.1
    No. of issuers744

    Top 10 issuers (%)

    United Kingdom10.5
    United States of America3.5
    HSBC Holdings plc2.1
    AT&T Inc2.0
    British American Tobacco plc2.0
    BP plc1.8
    Wells Fargo & Company1.7
    EDF SA1.6
    CYBG Plc1.4
    Logicor 2019-1 UK Plc1.4

    Credit rating (%)

    FundBenchmarkRelative
    AAA4.619.8-15.2
    AA14.013.20.8
    A25.427.9-2.5
    BBB45.639.06.6
    BB6.5-6.5
    B2.1-2.1
    CCC0.2-0.2
    CC0.0-0.0
    C0.0-0.0
    D0.0-0.0
    NR-0.30.1-0.4
    Cash1.9-1.9

    Top sector over/underweights (%)

    FundBenchmarkRelative
    Consumer Goods9.45.04.4
    Cash and Equivalents1.9-1.9
    Health Care3.82.01.8
    Industrials5.63.91.7
    Oil & Gas3.41.91.5
    Utilities15.113.71.4
    Financial Services3.72.61.1
    Other0.4-0.4
    Telecommunications5.14.80.3
    Technology0.90.80.1
    Basic Materials0.60.9-0.3
    Index-0.3--0.3
    Banks14.414.7-0.3
    Real Estate2.52.9-0.4
    Consumer Services3.84.2-0.4
    ABS9.610.5-0.9
    Insurance3.75.8-2.1
    Covered0.72.8-2.2
    Sovereign15.923.4-7.5

    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

    Trading information

    Prices

    Name
    Z GBP Acc
    Mid price
    145.97p
    Change (%)
    -
    Currency
    GBP
    Price time
    23:00 CET
    Name
    Z GBP Inc
    Mid price
    124.38p
    Change (%)
    -
    Currency
    GBP
    Price time
    23:00 CET
    Name
    Z USD Acc
    Mid price
    114.88c
    Change (%)
    -
    Currency
    USD
    Price time
    23:00 CET

    Further details

    Costs

    Price basis
    Single swing
    Initial charge
    0.00%
    Ongoing charges figure
    0.06%
    Dilution adjustment
    0.900%- round trip
    Swing factor
    0.45%

    Codes

    ISIN
    LU1003757884
    SEDOL
    -
    Bloomberg
    LGUKCPZ LX
    MEX
    -

    Dealing information

    Valuation frequency
    Daily, 23:00 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 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.