The extreme market uncertainty caused by COVID-19 meant that trading in the L&G UK Property Fund was suspended from 18th March 2020. We intend that the fund will reopen on 13th October 2020. Find out more
As at 31 Aug 2020
FTSE All Share TR Net Index
| Valuation frequency | Daily, 12pm (UK time) |
| Dealing frequency | Daily |
| Settlement period | T+4 |
Source: Lipper
As at 31 Aug 2020
| Cumulative | Fund | Benchmark |
| 1 month | 6.29 | 2.42 |
| 6 months | 11.51 | -7.59 |
| Year to date | -3.98 | -18.54 |
| 3 years | 13.44 | -8.16 |
| 5 years | 50.53 | 17.32 |
| Since launch | 230.63 | - |
| Annualised | Fund | Benchmark |
| 1 year | 8.71 | -12.62 |
| 3 years | 4.29 | -2.80 |
| 5 years | 8.51 | 3.24 |
| Since launch | 7.92 | - |
As at 30 Jun 2020
| Cumulative | Fund | Benchmark |
| Quarterly | 36.15 | 10.17 |
| Year to date | -9.50 | -17.51 |
| 3 years | 6.50 | -4.60 |
| 5 years | 39.77 | 15.17 |
| Since launch | 211.61 | - |
| Annualised | Fund | Benchmark |
| 1 year | 2.38 | -12.96 |
| 3 years | 2.12 | -1.56 |
| 5 years | 6.92 | 2.86 |
| Since launch | 7.60 | - |
| 12 months to 30 June | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Fund | 3.53 | 26.77 | 12.72 | -7.72 | 2.39 |
| Benchmark | 2.21 | 18.12 | 9.02 | 0.57 | -12.99 |
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Fund | 14.18 | 14.10 | 12.32 | -15.20 | 32.21 |
| Benchmark | 0.98 | 16.75 | 13.10 | -9.47 | 19.17 |
| 1 year | 3 years | 5 years | Since launch | |
|---|---|---|---|---|
| Fund | 8.71 | 4.29 | 8.51 | 7.92 |
| Benchmark | -12.62 | -2.80 | 3.24 | - |
| 1 year | 3 years | 5 years | Since launch | |
|---|---|---|---|---|
| Fund | 2.38 | 2.12 | 6.92 | 7.60 |
| Benchmark | -12.96 | -1.56 | 2.86 | - |
Performance for the C Acc unit class in GBP, launched on 12 December 2017. 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 C Inc unit class in GBP, launched on 12 December 2017. 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 13 November 2007. 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 13 November 2007. 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 31 July 2007. 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.
Past performance is not a guide to the future.
As at 31 Aug 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
| Large | 60.4 | |
| Mid | 37.0 | |
| Small | 0.0 | |
| Micro | 0.0 | |
| Cash and Equivalents | 2.6 |
| Top 10 holdings | 42.6 | |
| Rest of portfolio | 57.4 |
| No. of holdings | 25 |
| Aveva Group | 4.7 |
| JD Sports Fashion | 4.3 |
| Helios Towers | 4.3 |
| RHI Magnesita | 4.3 |
| Experian | 4.2 |
| London Stock Exchange Group | 4.2 |
| Rentokil Initial | 4.2 |
| Wizz Air Holdings | 4.2 |
| Croda International | 4.1 |
| B&M European Value Retail | 4.1 |
| United Kingdom | 100.0 |
Gavin joined LGIM in 2007 and has been the Fund Manager for the UK Growth Trust since September 2014. Previously, he was a Global Equities Analyst at BlueBay Asset Management. Gavin spent the majority of his buy-side career as a Portfolio Manager with UBS O’Connor. Prior to this, he was a top-rated, sell-side analyst covering the Autos, Capital Goods and Conglomerates sectors at investment banks including SG Warburg (now part of UBS) and Goldman Sachs. Gavin holds a degree in Philosophy and Economics from University College, London.
GavinLaunder
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.
Total dividends paid in each financial year of the fund.
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 return from this fund is dependent on relatively few individual investments. This means that a fall in the value of an individual investment can have a major impact on the overall performance of the fund.
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.
Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2020. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE®” is a trade mark of the relevant LSE Group companies and is used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.
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Monthly commentary
As at 31 Aug 2020
The steady march higher for equity markets continued in August despite government bond yields grinding higher. US technology stocks continue to power global markets, which whilst driving significant sector polarisation, we are seeing growth compounders and names benefitting from ESG momentum equally prosper. This is understandable given the supportive backdrop for long-term growth assets with a number of companies proving to be beneficiaries. COVID-19 cases continue to intermittently spike and decline around the world, while fears of a second wave remains a key risk.
Turning to UK equities, it was another month of relative underperformance against global indices. Green shoots of recovery are visible, though Brexit worries persist and market bias towards value sectors has not been helpful year-to-date. We believe this emphasises the importance of stock selection, where identifying leaders within the growth and quality styles can generate long-term outperformance.
The L&G Growth Trust delivered strong performance with a gain of +6.3%, which compared favourably against its benchmark. Stock selection and sector allocation both made positive contributions, and helped extend year-to-date outperformance. Stock selection within consumer services, technology and financials added positive value. In respect of sector allocation, the overweight positioning within consumer services and industrials yielded most benefit. Top individual performers included ASOS, Aveva Group, Ocado Group, Wizz Air, JD Sports and RHI Magnesita. On the flipside, Network International and Fevertree Drinks were the main detractors. On activity, there was no significant changes to the portfolio in the period.