Fact sheet: FL L&G UKPr EP

Fund information
Fund name
FL Legal & General UK Property EP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Matt Jarvissince 27/05/2014
  • Michael Barriesince 27/05/2014
Underlying fund
L&G UK Property Feeder
Fund objective
The objective of this fund is to provide a combination of income andgrowth by investing solely in the Legal & General UK Property Fund(the ‘Master Fund’). It may also hold cash where necessary to enablethe making of payments to unitholders or creditors.The fund aims to achieve investment returns very similar to those ofthe Master Fund.The Master Fund will typically invest at least 80% in a range of UKcommercial properties (but this can be as low as 60% where the fundmanager deems it to be in the interests of the fund and itsshareholders).The Master Fund may invest in all types of commercial property. TheMaster Fund may occasionally invest in residential property and mayalso develop properties. The Master Fund may also invest from timeto time in commercial properties in the Isle of Man and the ChannelIslands.The Master Fund may use derivatives (contracts which have a valuelinked to the price of another asset) for the following purposes:• To help with efficient day to day management.• To reduce some of the risks of the market.The Master Fund may also invest in other property-related assets,(including property-related UK shares and UK property-relatedauthorised investment funds), money market instruments, deposits,money market-related authorised investment funds and governmentbonds. Money market instruments are a type of security where cashcan be deposited for short periods of time.If you hold accumulation units in the Legal & General UK PropertyFeeder Fund, income from investments held by the fund (dividends)will be reinvested into the value of your units.If you hold distribution units in the Legal & General UK Property FeederFund, income from investments held by the fund will be paid out toyou (as a dividend). In addition to the charges set out in the charges section overleaf, theMaster Fund will incur transaction costs relating to the buying andselling of property. These costs are paid from the assets of the MasterFund.This fund may not be appropriate for investors who plan to withdrawtheir money within five years. The fund may be appropriate if youwould like to add a more specialist investment to an existing portfolio.
Benchmark
  • IA - Property
Investment style
No data available.
Investment method
Feeder fund
Quick stats
1 Year return
2.4%
1 Year rank in sector
64/157
Sector
PN UK Direct Property
Yield
-
Fund size
£0m (£1m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
95
Bid price
322.6
Offer price
322.6
Top in this sector
Fund name1 Year
Guardian Choices Property Pn23.3%
Guardian Property Pn23.3%
Pru UK Property Pn10.3%
OMW IPL Aviva Lm Prp Pn8.6%
Scot Eq Legal &GnrlUK Prop Pn8%
...more in PN UK Direct Property

Performance snapshot

Holdings snapshot

  • Money Market26.4%
    Midlands16.9%
    Central London10.5%
    South East UK10.3%
    Not Specified6.2%
  • Cash & Cash Equivalents26.4%
    Offices - Property24.4%
    Industrials19.1%
    Warehouse - Property9.9%
    Retail - Property6.3%
  • Physical Property67.5%
    Cash & Cash Equivalents26.1%
    Property Shares6.2%
    Money Market0.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.5%1.4%5.4%2.4%25.5%43%
Sector0.5%1.7%4.5%1.4%22.7%37.6%
Rank within sector90 / 160123 / 15920 / 15864 / 15760 / 15347 / 150
Quartile3rd4th1st2nd2nd2nd
Calendar performance
 YTD - 20172016201520142013
Fund2.3%2.1%10.8%13.7%8%
Sector3.1%-0.7%9.7%14.3%6.9%
Rank within sector107 / 15943 / 15761 / 15676 / 15258 / 150
Quartile3rd2nd2nd2nd2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
2.41
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.85
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.56
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
8.25
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
7.69
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.14
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.12
Price movement
52 week high334.5
52 week low275.3
Current bid price322.6
Current offer price322.6
Current mid price-
Region
1Money Market26.36%
2Midlands16.86%
3Central London10.49%
4South East UK10.3%
5Not Specified6.15%
6Scotland6.11%
7Yorkshire & Humberside5.89%
8North West UK4.71%
9South West UK3.46%
Industry sector
1Cash & Cash Equivalents26.36%
2Offices - Property24.43%
3Industrials19.12%
4Warehouse - Property9.89%
5Retail - Property6.3%
6Indirect Property6.15%
7Others4.99%
8Leisure2.76%
Asset type
1Physical Property67.49%
2Cash & Cash Equivalents26.12%
3Property Shares6.15%
4Money Market0.24%
Individual holdings
No data available.
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
The objective of this fund is to provide a combination of income andgrowth by investing solely in the Legal & General UK Property Fund(the ‘Master Fund’). It may also hold cash where necessary to enablethe making of payments to unitholders or creditors.The fund aims to achieve investment returns very similar to those ofthe Master Fund.The Master Fund will typically invest at least 80% in a range of UKcommercial properties (but this can be as low as 60% where the fundmanager deems it to be in the interests of the fund and itsshareholders).The Master Fund may invest in all types of commercial property. TheMaster Fund may occasionally invest in residential property and mayalso develop properties. The Master Fund may also invest from timeto time in commercial properties in the Isle of Man and the ChannelIslands.The Master Fund may use derivatives (contracts which have a valuelinked to the price of another asset) for the following purposes:• To help with efficient day to day management.• To reduce some of the risks of the market.The Master Fund may also invest in other property-related assets,(including property-related UK shares and UK property-relatedauthorised investment funds), money market instruments, deposits,money market-related authorised investment funds and governmentbonds. Money market instruments are a type of security where cashcan be deposited for short periods of time.If you hold accumulation units in the Legal & General UK PropertyFeeder Fund, income from investments held by the fund (dividends)will be reinvested into the value of your units.If you hold distribution units in the Legal & General UK Property FeederFund, income from investments held by the fund will be paid out toyou (as a dividend). In addition to the charges set out in the charges section overleaf, theMaster Fund will incur transaction costs relating to the buying andselling of property. These costs are paid from the assets of the MasterFund.This fund may not be appropriate for investors who plan to withdrawtheir money within five years. The fund may be appropriate if youwould like to add a more specialist investment to an existing portfolio.
Benchmark
  • IA - Property
Investment style
No data available.
Investment method
Feeder fund
Fund managers
NameSinceBiography
Matt Jarvis27/05/2014Matt Jarvis joined Legal & General Property as an asset manager in November 2004 and is Co-Fund Manager of the UK Property Trust, having previously been a Commercial Valuer with Jones Lang LaSalle. Matt holds a degree in Land Management from Reading University and is a Member of the Royal Institution of Chartered Surveyors (MRICS).
Michael Barrie27/05/2014Michael Barrie is a Director of LGP with specific responsibility for the Balanced Property Funds Portfolio (c.£3.4bn as at March 2010), including the L&G LPI Income Property Fund and the L&G Managed Property Fund. Michael joined LGP in 2005 having previously been a director of F&C Property Asset Management and lead fund manager for the RSA Life Unitised Fund & RSA Pension Unitised Fund. Over the last three calendar years of Michael’s management of these funds they outperformed the IPD benchmark by 2.0% and 1.1% per annum respectively. The Life Unitised Fund received the IPF/IPD/EG award for best 3-year rolling performance (Funds between £50m and £200m) in 2002. He also established and managed the ISIS Property Trust and the ISIS Property Trust 2 which were listed on the London Stock Exchange. Michael holds a degree in Land Economics, a post graduate diploma in Property Investment and is a Member of the Royal Institution of Chartered Surveyors (MRICS) and the Association of British Insurers Property Group.
Compliance
Property Authorised Investment Funds
Domicile
No data available.
Fund for sale in
United Kingdom
FL Legal & General UK Property EP
Initial charge-
Annual charge1.15%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.19%
Bid price322.6
Offer price322.6
Mid price-
CurrencyGBX
Price updated25/05/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI5X4
FL Legal & General UK Property EP S3
Initial charge-
Annual charge1.15%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.19%
Bid price322.7
Offer price322.7
Mid price-
CurrencyGBX
Price updated25/05/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI5X5
Data provided by

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