Unit Trust (UCITS compliant)

Legal & General Sterling Corporate Bond Index Fund

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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
£1,196.1m
Base currency
GBP
Launch date
28 Aug 2012
Domicile
UK
Share class launch

Statistics

Distribution yield
1.7%
Modified duration
7.93 years

As at 31 Aug 2020

Fund aim

The objective of the Fund is to provide a combination of growth and income by tracking the performance of the Markit iBoxx Sterling Non-Gilts ex BBB (the “Index). This objective is after the deduction of charges and taxation.

Benchmark

Markit iBoxx Sterling Non-Gilts ex BBB Index

  • What does it invest in? Invests in sterling denominated bonds issued by companies rated AAA, AA or A by credit ratings agencies.
  • How does it invest? Passively managed, aiming to replicate the performance of the Index.

Further details

Costs

Price basis
Dual
Initial charge
0.00%
Ongoing charges figure
0.52%
Bid / Offer spread
0.80%

Codes

ISIN
GB00BF3SPX39
SEDOL
BF3SPX3
Bloomberg
LGSCBRA LN
MEX
-

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-1.65-1.24
    6 months0.831.46
    Year to date3.584.15
    3 years--
    5 years--
    Since launch12.1212.99
    AnnualisedFundBenchmark
    1 year1.922.89
    3 years--
    5 years--
    Since launch5.285.65

    As at 30 Jun 2020

    CumulativeFundBenchmark
    Quarterly6.026.18
    Year to date4.144.25
    3 years--
    5 years--
    Since launch12.7213.09
    AnnualisedFundBenchmark
    1 year6.266.70
    3 years--
    5 years--
    Since launch6.016.18
    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
    Fund---5.096.28
    Benchmark---5.426.72

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund----7.64
    Benchmark----7.88

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund1.92--5.28
    Benchmark2.89--5.65

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund6.26--6.01
    Benchmark6.70--6.18

    Performance for the C Acc unit class in GBP, launched on 09 December 2013. 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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    Past performance is not a guide to the future.

    Performance for the C Inc unit class in GBP, launched on 09 December 2013. 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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    Past performance is not a guide to the future.

    Performance for the I Acc unit class in GBP, launched on 28 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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    Past performance is not a guide to the future.

    Performance for the I Inc unit class in GBP, launched on 28 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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    Past performance is not a guide to the future.

    Performance for the L Inc unit class in GBP, launched on 28 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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    Past performance is not a guide to the future.

    Performance for the R Acc unit class in GBP, launched on 12 June 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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    Past performance is not a guide to the future.

    Performance for the R Inc unit class in GBP, launched on 12 June 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. Please note, the benchmark is priced at the close whereas the fund is priced earlier. This can lead to artificially high tracking difference. Please see the fact sheet for gross tracking difference with both fund and index on a closed-price basis.

    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. In order to minimise transaction costs, the Fund will not always own all the assets that constitute the index and on occasion it will own assets that are not in the index.

    Currency (%)

    GBP100.0

    Years to maturity (%)

    0 to 538.1
    5 to 1025.5
    10 to 1510.4
    15 to 209.7
    20 to 256.9
    25 to 302.8
    30 to 405.2
    Over 401.5

    Credit rating (%)

    AAA33.5
    AA19.9
    A46.5
    BBB0.1
    Other0.0

    Sector (%)

    Core Financials17.8
    Supranationals15.6
    Agencies11.9
    Housing Associations7.6
    Utilities7.4
    Non-financials4.9
    Covered4.8
    Consumer Services4.1
    Consumer Goods3.4
    Other22.6
    Top 10 holdings6.9
    Rest of portfolio93.1
    No. of issuers in fund252
    No. of issuers in index247

    Top 10 holdings (%)

    KFW 6% 20281.2
    European Investment Bank 5.625% 20320.9
    European Investment Bank 6% 20280.8
    European Investment Bank 2.5% 20220.7
    European Investment Bank 5% 20390.6
    Electricité de France 5.5% 20410.6
    LCR Finance 5.1% 20510.6
    Electricité de France 6% 21140.6
    KFW 5.75% 20320.6
    European Investment Bank 1% 20260.5

    Country (%)

    United Kingdom36.9
    Supranational15.6
    Germany12.4
    United States11.1
    France9.3
    Netherlands3.5
    Canada2.7
    Australia1.8
    Norway1.2
    Other5.6

    Management Team

    The Index Fund Management team comprises 25 fund managers, supported by two analysts. Management oversight is provided by the Global Head of Index Funds. The team has average industry experience of 15 years, of which seven years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.

    LGIMIndex Fund Management Team

    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
    C GBP Acc
    Bid price
    71.69p
    Offer price
    72.25p
    Absolute change
    -0.0019
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    C GBP Inc
    Bid price
    60.09p
    Offer price
    60.56p
    Absolute change
    -0.0016
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    F GBP Acc
    Bid price
    70.94p
    Offer price
    71.50p
    Absolute change
    -0.0019
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    n/a
    Bid price
    n/a
    Offer price
    n/a
    Absolute change
    n/a
    Currency
    n/a
    Price time
    n/a
    Name
    I GBP Acc
    Bid price
    71.46p
    Offer price
    72.02p
    Absolute change
    -0.0019
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    I GBP Inc
    Bid price
    59.88p
    Offer price
    60.35p
    Absolute change
    -0.0016
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    L GBP Acc
    Bid price
    55.12p
    Offer price
    55.55p
    Absolute change
    -0.0015
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    L GBP Inc
    Bid price
    60.49p
    Offer price
    60.96p
    Absolute change
    -0.0016
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Acc
    Bid price
    56.80p
    Offer price
    57.24p
    Absolute change
    -0.0015
    Currency
    GBP
    Price time
    12:00 UK time
    Name
    R GBP Inc
    Bid price
    54.35p
    Offer price
    54.78p
    Absolute change
    -0.0015
    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.

    We may take some or all of the ongoing charges from the fund's capital rather than the fund's income. This increases the amount of income, but it reduces the growth potential and may lead to a fall in the value of the fund.

    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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