The objective of this fund is to provide a combination of income and growth. The fund will invest between 80% and 100% in bonds and/or derivatives and/or cash. The bonds may have a fixed or variable rate of income. The bonds that the fund invests in may be investment grade (rated as lower risk) or sub-investment grade (rated as higher risk). The bonds held may be issued by companies or governments and may be issued in the UK or overseas. 35% or more of the fund can be invested in bonds issued by the government of any one of various countries or by any one of various international organisations. 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 use derivatives for investment purposes to enhance the performance of the fund, manage the effect of changes in interest rates, manage the effect of changes in exchange rates with Sterling, removing 90% or more of this exchange rate risk. The fund may also invest in other funds and/or company shares.
Fund Manager
Colin Reediemanager
for
6 years
and 4 months
As Head of Active Strategies, Colin has responsibility for both the London-based fixed income and equity teams, as well as portfolio management responsibilities for our Global Credit, Absolute Return and Equity/Credit strategies. Colin joined LGIM in 2005 and has over 30 years’ experience.
Matthew Reesmanager
for
4 years
and 9 months
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, and joined LGIM in March 2009. Matthew has more than 25 years’ experience in financial markets.
Fund Overview
Mid (26/07/2024)
53.35p
Distribution yield
6.90%
Underlying yield
6.60%
Fund size (31/05/2024)
£715.77m
Number of holdings
553
Entry Charge
0.00%
Ongoing Charges
0.63%
Launch date
30/04/2007
Asset Allocation
International Bonds
57.25%
UK Corporate Bonds
16.19%
Alternative Trading Strategies
15.59%
Cash and Equivalents
5.63%
UK Equities
0.46%
UK Gilts
0.14%
Other Assets
4.74%
Commentary
December was marked by an unusually early onset of the traditional pre-Christmas low levels of liquidity, combined with elevated market volatility. In the aftermath of the EU/IMF bailout of Ireland in November, subordinated financial issues staged a partial recovery in early December, though senior bank debt performed relatively poorly amid concerns that senior bondholders could be forced to share the costs of future bailouts. During the month we put money to work in non-financial corporate issues, concentrating on those areas set to remain beneficiaries of the trend of rising demand for commodities in emerging markets, adding exposure to raw material supplier Glencore. We also lifted some of portfolio’s hedging in non-financial corporates, both at the single-name and index levels. Over the month our exposure to high-yield, non-financial corporate and financial corporates rose by approximately 2.0%, 3.1% and 9.3% respectively, with the latter largely achieved through much-reduced hedging of the portfolio’s exposure. However, we maintained our hedging on UK government issues, retaining our view that gilts could yet suffer from any potential overspill of the Irish crisis. Elsewhere, we locked in healthy gains from our interest rate strategies, taking profits from our duration stances in both the US and Europe; we closed our exposure to German Schatz short-dated bond futures at a very advantageous level, before taking the opportunity to re-establish some exposure later in the month.
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
International Bonds
57.25%
UK Corporate Bonds
16.19%
Alternative Trading Strategies
15.59%
Cash and Equivalents
5.63%
UK Equities
0.46%
UK Gilts
0.14%
Other Assets
4.74%
Bond Sector Breakdown
Expand allCollapse all
Industry
Supersector
Sector
Subsector
Bonds
73.58%
-
-
-
Alternative Trading Strategies
15.59%
-
-
-
Alternative Trading Strategies
-
15.59%
-
-
Alternative Trading Strategies
-
-
15.59%
-
Alternative Trading Strategies
-
-
-
15.59%
Cash and Equivalents
5.63%
-
-
-
Non-Classified
4.74%
-
-
-
Financials
0.46%
-
-
-
Banks
-
0.46%
-
-
Banks
-
-
0.46%
-
Banks
-
-
-
0.46%
Regional Allocation
Non-Classified
27.22%
Developed Europe - Excl UK
25.46%
UK
16.79%
North America
13.29%
Cash and Equivalents
5.63%
South & Central America
3.68%
Middle East & Africa
2.77%
Emerging Europe
2.07%
Emerging Asia
1.95%
Other Regions
1.12%
Fixed Interest Currencies
US Dollar
31.23%
Pound Sterling
21.51%
Non-Fixed Interest Assets
20.79%
Euro
20.45%
Cash
5.63%
Singapore Dollar
0.17%
Other Currencies
0.22%
Regional Breakdown
Expand allCollapse all
Region
Country
Non-Classified
27.22%
-
Developed Europe - Excl UK
25.46%
-
France
-
5.10%
Netherlands
-
3.66%
Italy
-
3.24%
Luxembourg
-
2.34%
Spain
-
2.25%
Germany
-
2.17%
Ireland
-
1.13%
Denmark
-
0.99%
Belgium
-
0.95%
Austria
-
0.84%
Finland
-
0.67%
Portugal
-
0.64%
Norway
-
0.46%
Iceland
-
0.44%
Switzerland
-
0.37%
Sweden
-
0.21%
UK
16.79%
-
United Kingdom
-
16.79%
North America
13.29%
-
United States
-
11.67%
Canada
-
1.62%
Cash and Equivalents
5.63%
-
South & Central America
3.68%
-
Mexico
-
1.31%
Chile
-
1.04%
Colombia
-
0.39%
Dominican Republic
-
0.28%
Brazil
-
0.23%
Venezuela
-
0.16%
Guatemala
-
0.12%
Peru
-
0.10%
El Salvador
-
0.05%
Middle East & Africa
2.77%
-
Oman
-
0.48%
Egypt
-
0.46%
Kenya
-
0.41%
Cote D'Ivoire
-
0.39%
Angola
-
0.33%
Nigeria
-
0.25%
Qatar
-
0.15%
South Africa
-
0.10%
Senegal
-
0.09%
Morocco
-
0.07%
Israel
-
0.04%
Emerging Europe
2.07%
-
Turkey
-
0.83%
Romania
-
0.51%
Greece
-
0.31%
Latvia
-
0.29%
Poland
-
0.13%
Emerging Asia
1.95%
-
India
-
0.50%
Uzbekistan
-
0.38%
Pakistan
-
0.33%
Azerbaijan
-
0.25%
Georgia
-
0.19%
Mongolia
-
0.12%
Indonesia
-
0.11%
Kazakhstan
-
0.06%
Developed Asia
1.11%
-
Singapore
-
0.93%
Hong Kong
-
0.19%
Japan
0.01%
-
Japan
-
0.01%
Property Regions
7,a,2 - 3
223.43%
9,a,0 - 1
20.86%
8,a,1 - 2
12.38%
5,a,5 - 7
9.64%
1,a,15+
1.93%
2,a,12 - 15
0.32%
Other
-130.73%
Asset Allocation
2,b,AA
169.89%
5,a,<BBB
62.24%
4,a,BBB
26.90%
7,a,Cash and Equivalents
4.90%
3,a,A
4.75%
1,a,AAA
2.42%
Other Assets
-132.80%
Fixed Interest Maturity Profile
< 5Yr Maturity
32.95%
5Yr - 10Yr Maturity
15.84%
10Yr - 15Yr Maturity
2.82%
> 15Yr Maturity
21.97%
Cash And Equivalents
5.63%
Unknown Maturity
4.74%
Other Asset Types
16.05%
Fixed Interest Quality Profile
AA
1.42%
A
5.87%
BBB
17.25%
Sub-Investment Grade
17.77%
Unknown Quality
31.28%
Cash and Equivalents
5.63%
Other Asset Types
20.79%
Top 10 Holdings
Stock
% Weight
Sector
Country
1
06 JUN 24 EURX 06 JUN
1.77%
Non-Classified
Non-Classified
2
AA BD. 8.45%
1.29%
Bonds
Non-Classified
3
UK. T-BILL. 0.00%
1.10%
Bonds
United Kingdom
4
AVIVA F2F
0.79%
Bonds
United Kingdom
5
BANCA MONTE DEI PASC F2V
0.77%
Bonds
Non-Classified
6
9.25%
0.77%
Bonds
United States
7
ENERGY TRANSFER VAR
0.74%
Bonds
United States
8
VOLKSWAGEN FIN SERV 6.5%
0.71%
Bonds
Netherlands
9
BARCLAYS F2F
0.66%
Non-Classified
Non-Classified
10
6.87%
0.65%
Bonds
United Kingdom
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
B1TWMY1
Mex Code
LGDBTI
Isin Code
GB00B1TWMY10
Citi Code
X103
Fund Charges
Entry Charge
0.00%
Ongoing Charges
0.63%
Aims and Benchmark
Aims
The objective of this fund is to provide a combination of income and growth. The fund will invest between 80% and 100% in bonds and/or derivatives and/or cash. The bonds may have a fixed or variable rate of income. The bonds that the fund invests in may be investment grade (rated as lower risk) or sub-investment grade (rated as higher risk). The bonds held may be issued by companies or governments and may be issued in the UK or overseas. 35% or more of the fund can be invested in bonds issued by the government of any one of various countries or by any one of various international organisations. 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 use derivatives for investment purposes to enhance the performance of the fund, manage the effect of changes in interest rates, manage the effect of changes in exchange rates with Sterling, removing 90% or more of this exchange rate risk. The fund may also invest in other funds and/or company shares.
Benchmark
N/A
Benchmark Category
-
IA Sector
£ Strategic Bond
Fund Background
Valuation frequency
Daily
Valuation point
12:00
Fund type
Unit Trust
Launch price
£0.50
Fund currency
Pound Sterling
Fund domicile
United Kingdom
ISA allowable
Yes
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 December
05 February
05 March
05 May
05 June
05 August
05 September
05 November
Ratings
FE Crown
Effect of Deductions
Assuming a growth rate of 5.20%
Assuming a growth rate of 7.00%
4.50%
-
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
£1000000
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.