Unit Trust (UK UCITS compliant)

Legal & General UK Smaller Companies Trust

Given current market events we have now populated Fund Centre with Fund exposures to assets with “country of risk*” as either Russia, Ukraine, or Belarus, or exposures to Russian Rouble currency. Please see the exposures below for further information.

*Sourced from Bloomberg

Fund facts

Fund size
£213.1m
Base currency
GBP
Launch date
9 Sep 1985
Domicile
UK
Share class launch

Statistics

Historical yield
1.6%

As at 30 Jun 2022

Fund aim

The objective of this Fund is to provide growth above that of the Numis Smaller Companies ex-Investment Companies Index TR, the “Benchmark Index”. The Fund aims to outperform the Benchmark Index by 3% per annum. This objective is before the deduction of any charges and measured over rolling three year periods.

Benchmark

Numis Smaller Companies ex-Investment Companies Index TR

  • What does it invest in? Invests at least 70% in shares of UK companies which are within the smallest 10% when measured by market capitalisation.
  • How does it invest? Actively managed, with holdings in between 50 and 100 companies on average over a typical market cycle of 3-5 years.

Russia exposure

23 Feb 2022
0.00%
30 Jun 2022
0.00%

As at 30 Jun 2022

These numbers give indicative Fund exposures to assets with “country of risk” sourced from Bloomberg as either Russia, Ukraine, or Belarus, or exposures to Russian Rouble currency. The figures are based on early price estimated data so may differ from the fully verified month end NAV exposure. Where the holding is “indirect” (for example held in a sub-fund), best efforts have been made to ensure that exposure to the sub-fund(s) is on a consistent basis. As at dates have been chosen to reflect exposure both before and after the significant recent falls in values of impacted assets.

Exposures are presented to two decimal places, exposures may be rounded to 0 if less than 0.05%.

These exposures do not give an indication of the relative exposures versus the benchmark. With regard to index-based strategies, LGIM has a duty to track the relevant index to ensure clients receive exposure as set out in the relevant investment objective. Following the imposition of sanctions and assets being removed from indices the market was effectively frozen for foreign investors and all equity positions have been marked to zero in line with LGIM’s fair value pricing policy. Regardless of being priced at zero LGIM funds still own these securities and any value realised in the future will be for the sole benefit of the relevant fund. LGIM will seek to divest from such securities at such a time that market conditions allow consistent with our fiduciary duties and applicable sanctions.

Fund updates

Performance

Source: Lipper

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Jun 2022

    CumulativeFundBenchmark
    1 month-8.75-10.04
    6 months-24.95-20.24
    Year to date-24.95-20.24
    3 years5.485.44
    5 years4.797.41
    Since launch--
    AnnualisedFundBenchmark
    1 year-22.07-17.18
    3 years1.791.78
    5 years0.941.44
    Since launch--

    As at 30 Jun 2022

    CumulativeFundBenchmark
    Quarterly-11.92-11.70
    Year to date-24.95-20.24
    3 years5.485.44
    5 years4.797.41
    Since launch--
    AnnualisedFundBenchmark
    1 year-22.07-17.18
    3 years1.791.78
    5 years0.941.44
    Since launch--
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 30 June 2018 2019 2020 2021 2022
    Fund12.86-11.98-7.6246.51-22.07
    Benchmark7.64-5.36-15.0049.77-17.18

    Calendar year performance (%)

    2017 2018 2019 2020 2021
    Fund22.04-17.9226.26-3.0124.85
    Benchmark19.50-15.3525.17-4.2921.92

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-22.071.790.94-
    Benchmark-17.181.781.44-

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-22.071.790.94-
    Benchmark-17.181.781.44-

    Performance for the C Acc unit class in GBP, launched on 28 February 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the E Acc unit class in GBP, launched on 24 December 2004. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the E Inc unit class in GBP, launched on 24 December 2004. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the F Acc unit class in GBP, launched on 20 December 2012. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the F Inc unit class in GBP, launched on 20 December 2012. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the I Acc unit class in GBP, launched on 17 August 2012. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the I Inc unit class in GBP, launched on 17 August 2012. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the L Acc unit class in GBP, launched on 25 April 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the R Acc unit class in GBP, launched on 24 December 2004. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the R Inc unit class in GBP, launched on 24 December 2004. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the unit class in GBP, launched on 25 October 1999. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the unit class in GBP, launched on 26 October 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. Performance assumes that the average basic annual management charge our customers pay has been deducted. This is 0.90% for internal funds and up to 2.00% for external funds. Your charge and therefore your fund performance may be different from this.

    Past performance is not a guide to the future.

    Performance for the unit class in GBP, launched on 26 October 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the unit class in GBP, launched on 25 October 1999. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund. Performance assumes that the average basic annual management charge our customers pay has been deducted. This is 0.90% for internal funds and up to 2.00% for external funds. Your charge and therefore your fund performance may be different from this.

    Past performance is not a guide to the future.

    Portfolio

    As at 30 Jun 2022. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Market capitalisation (%)

    Large-
    Mid79.9
    Small16.9
    Micro0.6
    Cash and Equivalents2.5

    Cash positions are held as collateral on futures

    Top 10 holdings29.9
    Rest of portfolio70.1
    No. of holdings63

    Top 10 holdings (%)

    Discoverie Group3.5
    Brewin Dolphin Holdings3.3
    Biffa3.3
    Energean3.2
    Keller3.0
    Hill & Smith Holdings2.9
    OSB Group2.8
    Advanced Medical Solutions2.8
    Safestore Holdings2.7
    Clarkson2.6

    Country (%)

    United Kingdom100.0

    Top sector over/underweights (%)

    FundRelative
    Health Care6.74.8
    Technology10.03.9
    Unclassified3.63.6
    Basic Materials7.11.9
    Utilities3.30.6
    Telecommunications0.0-1.3
    Consumer Discretionary13.5-2.0
    Energy3.2-3.4
    Real Estate10.3-4.1
    Financials12.4-4.8

    Top stock over/underweights (%)

    FundRelative
    Discoverie Group3.53.1
    OSB Group2.82.8
    Advanced Medical Solutions2.82.8
    Safestore Holdings2.72.7
    Keller3.02.6
    Telecom Plus0.0-1.2
    Babcock International Group0.0-1.2
    Contourglobal0.0-1.3
    Plus5000.0-1.3
    Qinetiq Group0.0-1.7

    Fund Manager

    Robert joined LGIM in 2018 as a Fund Manager for the UK Special Situations Trust. Prior to this Robert worked at Mirabaud Asset Management where he was an Assistant Fund Manager (2013 to 2018) on the UK Equities Core product. Before that he worked at PWC in their Transaction Services division. In total he has over 10 years experience working within financial services. He read Philosophy, Politics and Economics at Pembroke College, Oxford and is a member of the Institute of Chartered Accountants in England and Wales.

    RobertWhite

    Literature

    Income

    Latest dividends

    The latest dividends are shown below. The historic level of income generated by this fund may go down as well up and will vary over time.

    of

    Dividend history

    Total dividends paid in each financial year of the fund.

    Prices

    Name
    I GBP Acc
    Price
    1213.00p
    Change (%)
    0.25
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    I GBP Inc
    Price
    967.80p
    Change (%)
    0.32
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Acc
    Price
    1097.00p
    Change (%)
    0.37
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Inc
    Price
    943.20p
    Change (%)
    0.32
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    F GBP Acc
    Price
    1174.00p
    Change (%)
    0.26
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    C GBP Acc
    Price
    53.48p
    Change (%)
    0.34
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    L GBP Acc
    Price
    57.30p
    Change (%)
    0.33
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    GBP
    Price
    684.85p
    Change (%)
    -
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    GBP
    Price
    635.61p
    Change (%)
    -
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    GBP
    Price
    688.03p
    Change (%)
    -
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    GBP
    Price
    635.80p
    Change (%)
    -
    Currency
    GBP
    Price time
    12:00 UK time

    A single swing price is displayed from 1st December 2020. Prior to this date, Bid and Offer prices are displayed for those funds that were previously dual priced.

    Further details

    Costs

    Price basis
    Single swing
    Initial charge
    0.00%
    Ongoing charges figure
    0.78%
    Dilution adjustment
    1.40%- round trip

    Codes

    ISIN
    GB00B7LFF300
    SEDOL
    B7LFF30
    Bloomberg
    LGSMCIA LN
    MEX
    LGMALL

    Dealing information

    Valuation frequencyDaily, 12pm (UK time)
    Dealing frequencyDaily
    Settlement periodT+4

    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
    10 Rue du Château d'Eau
    L-3364 Leudelange
    Grand-Duché de Luxembourg
    Facsimile: +352 28 294 454
    Telephone: +352 28 294 123
    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.

    The fund invests in smaller companies. Investments in smaller companies tend to be riskier than investments in larger companies because they can: be harder to buy and sell; or go up and down in value more often and by larger amounts, especially in the short term. In times of market uncertainty or if an exceptional amount of withdrawals are requested it may become less easy for your fund to sell investments and the Manager may defer withdrawals, or suspend dealing. The Manager can only delay paying out if it is in the interests of all investors and with the permission of the fund trustee or depositary.

    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.

    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.