The objective of this fund is to maintain capital and to provide a return in line with money market rates, before charges. The fund will generally invest in short term deposits, certificates of deposit, government bonds (predominantly UK) issued in pounds sterling and Repos. In stressed market conditions, the fund may be invested up to 100% in government and public securities issued by a single issuer. The maximum maturity of the instruments the fund invests in is 397 days but the fund must maintain a weighted average maturity of less than 60 days. The bonds that the fund invests in must be investment grade (rated as lower risk). The fund may use derivatives to reduce risk or cost, or to generate additional capital or income with no, or an acceptably low, level of risk. The fund may also invest in other fixed income securities, other money market instruments and collective investment schemes.
Fund Manager
LGIM Liquidity Team Managementmanager
for
16 years
and 6 months
LGIM has a team-based approach to liquidity management which forms a strategic part of our asset management capability drawing on the expertise of over 70 investment professionals from our liquidity and fixed income teams globally.
ally.
Fund Overview
Mid (26/07/2024)
50.55p
Distribution yield
5.10%
Underlying yield
5.10%
Fund size (31/05/2024)
£2907.51m
Number of holdings
72
Entry Charge
0.00%
Ongoing Charges
0.15%
Launch date
23/09/1992
Asset Allocation
Cash and Equivalents
92.13%
UK Corporate Bonds
5.98%
Other Assets
1.89%
Commentary
UK economic data releases remained generally positive, albeit marginally less so than in October and November. Third-quarter economic growth was downgraded from 0.8% to 0.7%, though data from the manufacturing sector was encouraging with exports boosted by weaker sterling. However, a surge in November’s Public Sector Borrowing highlighted the poor state of UK public finances. Meanwhile concerns grew that snow-related disruption would make life even more difficult for retailers already facing a greater degree of caution among consumers. While rising food and energy costs are feeding through to inflation in many countries, UK inflation continues to cause particular concern. November’s consumer price inflation unexpectedly rose to 3.3% from October’s 3.2%, boosted by record rises in food, clothing and furniture prices. Nevertheless, despite reassurances from the Bank of England over its resolve, only one member of the central bank’s Monetary Policy Committee continued to vote to raise interest rates, with the other members favouring no change. The sole dissenter, Dr Andrew Sentence, warned that consumer price inflation is set to rise to 4.0% this year, double its official target. Meanwhile, the Eurozone debt debacle rumbled on, with speculation growing that the crisis could force countries such as Portugal to accept assistance, though the market’s real concern remains that the crisis is moving ever closer to ‘core’ countries. Against this backdrop, three-month sterling LIBOR rose from 0.7415% to 0.7575%.
Portfolio data accurate as at: 31/05/24
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Portfolio data accurate as at:
Asset Allocation
Cash and Equivalents
92.13%
UK Corporate Bonds
5.98%
Other Assets
1.89%
Bond Sector Breakdown
Expand allCollapse all
Industry
Supersector
Sector
Subsector
Cash and Equivalents
92.13%
-
-
-
Bonds
5.98%
-
-
-
Non-Classified
1.89%
-
-
-
Regional Allocation
Cash and Equivalents
92.13%
UK
5.98%
Non-Classified
1.89%
Fixed Interest Currencies
Cash
92.13%
Pound Sterling
5.98%
Non-Fixed Interest Assets
1.89%
Regional Breakdown
Expand allCollapse all
Region
Country
Cash and Equivalents
92.13%
-
UK
5.98%
-
United Kingdom
-
5.98%
Non-Classified
1.89%
-
Asset Allocation
0 to 7 days
37.49%
1 to 3 months
32.95%
3 to 6 months
15.87%
7 days to 1 month
9.53%
6 to 12 months
4.13%
Fixed Interest Maturity Profile
< 5Yr Maturity
5.98%
Cash And Equivalents
92.13%
Unknown Maturity
1.89%
Fixed Interest Quality Profile
Unknown Quality
5.98%
Cash and Equivalents
92.13%
Other Asset Types
1.89%
Holdings
Stock
% Weight
Sector
Country
1
Cash
92.13%
Cash and Equivalents
Cash and Equivalents
2
UK. T-BILL. 0.00%
3.44%
Bonds
United Kingdom
3
UK. T-BILL. 0.00%
2.55%
Bonds
United Kingdom
4
BANQUE POPULAIRE 5.35% C
1.03%
Non-Classified
Non-Classified
5
BPCE Z/CPN C
0.86%
Non-Classified
Non-Classified
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
Sedol Code
BJKGG24
Mex Code
-
Isin Code
GB00BJKGG240
Citi Code
Q49A
Fund Charges
Entry Charge
0.00%
Ongoing Charges
0.15%
Aims and Benchmark
Aims
The objective of this fund is to maintain capital and to provide a return in line with money market rates, before charges. The fund will generally invest in short term deposits, certificates of deposit, government bonds (predominantly UK) issued in pounds sterling and Repos. In stressed market conditions, the fund may be invested up to 100% in government and public securities issued by a single issuer. The maximum maturity of the instruments the fund invests in is 397 days but the fund must maintain a weighted average maturity of less than 60 days. The bonds that the fund invests in must be investment grade (rated as lower risk). The fund may use derivatives to reduce risk or cost, or to generate additional capital or income with no, or an acceptably low, level of risk. The fund may also invest in other fixed income securities, other money market instruments and collective investment schemes.
Benchmark
IA Short Term Money Market Sector
Benchmark Category
-
IA Sector
Short Term Money Market
Fund Background
Valuation frequency
Daily
Valuation point
12:00
Fund type
Unit Trust
Launch price
£1.00
Fund currency
Pound Sterling
Fund domicile
United Kingdom
ISA allowable
No
SIPP allowable
Yes
Distribution Details
Income frequency
Quarterly
Distribution Type
Interest
Distribution Payment Basis
Net
Distribution Dates
Ex dividend date(s)
Income payment date(s)
05 November
05 January
05 February
05 April
05 May
05 July
05 August
05 October
Ratings
FE Crown
Effect of Deductions
Assuming a growth rate of 2.70%
Assuming a growth rate of 7.00%
2.20%
-
Fund Administration
Fund Trustee/Depository
The Northern Trust Company
Fund Administrator
Internal
Fund Registrar
Internal
Fund Custodian
The Northern Trust Company
Group Details
Group name
Legal & General Unit Trust Managers Limited
Group address
Legal & General
One Coleman Street
London
EC2R 5AA
Group telephone
0370 050 0955
Dealing telephone
-
Email
investments@landg.com
Homepage
www.lgim.com
Fax number
-
Dealing
Minimum Investment
£500000
Minimum Top Up
£20000
Minimum Regular Saving
-
Settlement Period: Buy
4 days
Settlement Period: Sell
4 days
Pricing Basis
Forward
Dealing Decimals
3
Important Information
Ongoing charges may vary in the future and may be higher than they are now. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.