Unit Trust (UCITS compliant)

Legal & General Managed Monthly Income Trust

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Important customer notice:

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

Fund facts

Fund size
£411.4m
Base currency
GBP
Launch date
20 Oct 1997
Domicile
UK
Share class launch

Statistics

Distribution yield
1.8%
Modified duration
8.10 years

As at 31 Aug 2020

Fund aim

The objective of the Fund is to provide a monthly income.The Fund aims to outperform the iBoxx Sterling Corporate Bond Index (the “Index”) by 1.5% per annum. This objective is before the deduction of any charges and measured over rolling 3 year periods.

Benchmark

iBoxx Sterling Corporate Bond Index

  • What does it invest in? Invests in bonds issued by a range of UK and overseas companies and governments.
  • How does it invest? Actively managed, with at least 80% in bonds with an investment grade (lower risk) credit rating, but may invest up to 20% in bonds with a sub-investment grade (higher risk) credit rating.

Further details

Costs

Price basis
Dual
Initial charge
0.00%
Ongoing charges figure
1.03%
Bid / Offer spread
1.02%

Codes

ISIN
GB0030803117
SEDOL
3080311
Bloomberg
BARHIFA
MEX
LGMMIA

Dealing information

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

Performance

Source: Lipper

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Aug 2020

    CumulativeFundBenchmark
    1 month-1.11-0.78
    6 months1.281.98
    Year to date3.554.07
    3 years11.2813.16
    5 years28.6733.90
    Since launch--
    AnnualisedFundBenchmark
    1 year2.913.89
    3 years3.624.20
    5 years5.166.01
    Since launch--

    As at 30 Jun 2020

    CumulativeFundBenchmark
    Quarterly8.569.03
    Year to date2.782.90
    3 years12.6914.23
    5 years28.5733.16
    Since launch--
    AnnualisedFundBenchmark
    1 year5.956.50
    3 years4.064.53
    5 years5.155.89
    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 2016 2017 2018 2019 2020
    Fund6.856.780.345.995.97
    Benchmark9.116.840.386.836.52

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund-0.3810.085.49-2.9810.39
    Benchmark0.5711.845.02-2.2211.03

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund2.913.625.16-
    Benchmark3.894.206.01-

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund5.954.065.15-
    Benchmark6.504.535.89-

    Performance for the F 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 F 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 I Acc unit class in GBP, launched on 26 August 2005. 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 26 August 2005. 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 31 October 2000. 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 20 October 1997. 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 10 April 2006. 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 10 April 2006. 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.

    Portfolio

    As at 31 Aug 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Currency (%)

    GBP97.0
    EUR1.7
    USD1.2

    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.

    Years to maturity (%)

    0 to 524.5
    5 to 1031.7
    10 to 1515.8
    15 to 2013.6
    20 to 256.4
    25 to 304.7
    30 +3.3

    Credit rating (%)

    AAA1.0
    AA9.6
    A27.8
    BBB54.3
    <BBB4.0
    NR1.2
    Cash2.2

    Sector (%)

    Utilities23.8
    Banks19.1
    Insurance8.4
    ABS7.7
    Consumer Goods6.7
    Telecommunications6.2
    Industrials5.6
    Sovereign5.1
    Financial Services5.0
    Other12.5
    Top 10 issuers26.7
    Rest of portfolio73.3
    No. of issuers139

    Top 10 issuers (%)

    United Kingdom5.1
    Lloyds Banking Group Plc3.6
    HSBC Holdings plc3.5
    EDF SA2.6
    Wells Fargo & Company2.4
    United Utilities Water plc2.1
    National Grid plc1.9
    AT&T Inc1.9
    Aviva plc1.9
    National Westminster Bank Plc1.7

    Country (%)

    United Kingdom62.8
    United States15.9
    France8.5
    Germany3.8
    Netherlands2.1
    Spain1.1
    Italy1.1
    Channel Islands0.9
    Luxembourg0.8
    Other3.2

    Fund Manager

    Mark is a senior UK investment grade portfolio manager with responsibility for LGIM’s retail funds. Mark joined LGIM in 2014 from AXA Investment Managers where he was Head of Credit, UK, and was closely involved with AXA’s successful entry into buy and maintain credit. Prior to that, he was at the Royal Bank of Canada in a variety of senior capital market roles. Mark graduated from the University College of North Wales with a BA (hons) in economics in 1984 and from the University of Bradford Management Centre with an MBA in 1985. He also holds the Investment Management Certificate.

    MarkBenstead

    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
    F GBP Acc
    Bid price
    142.30p
    Offer price
    143.60p
    Absolute change
    -0.0034
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    F GBP Inc
    Bid price
    71.13p
    Offer price
    71.85p
    Absolute change
    -0.0017
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    I GBP Acc
    Bid price
    148.00p
    Offer price
    149.40p
    Absolute change
    -0.0036
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    I GBP Inc
    Bid price
    70.42p
    Offer price
    71.13p
    Absolute change
    -0.0017
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Acc
    Bid price
    135.70p
    Offer price
    137.00p
    Absolute change
    -0.0033
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Inc
    Bid price
    70.34p
    Offer price
    71.05p
    Absolute change
    -0.0017
    Currency
    GBP
    Price time
    12:00 UK time

    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.

    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.

    Investment returns on bonds are sensitive to trends in interest rate movements. Such changes will affect the value of your investment.

    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.

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