Fact sheet: L&G Fixed Interest Trust

Fund information
Fund name
L&G Fixed Interest Trust I Acc
Fund manager company
Legal & General UT Mgr Ltd
Fund type
Unit Trust
Fund managers
  • Mark Bensteadsince 31/08/2014
Fund objective
The objective of this fund is to provide a high income and the potential for growth (if the income is reinvested). The fund will invest in bonds (a type of loan which pays interest). These bonds will have a pre-set rate of income (either set at a fixed level or varying in a pre-determined way). The bonds that the fund invests in will be almost entirely investment grade (rated as lower risk). Investment grade bonds are bonds that have achieved a higher credit rating from a rating agency. Credit ratings give an indication of how likely it is that the issuer of a bond will be able to pay back interest and the loan on time. The bonds that the fund invests in will be issued by companies or governments anywhere in the world. The fund may use derivatives (contracts which have a value linked to the price of another asset) to: • reduce risk or cost; or • generate additional capital or income with no, or an acceptably low, level of risk. The fund may also invest in cash or deposits. If you hold accumulation units, income from investments held by the fund (interest) will be reinvested into the value of your units. If you hold distribution units, income from investments held by the fund will be paid out to you every three months (as interest). You can buy or sell units in this fund on any working day. You need to contact us with your instruction before 12 noon. This is the time we calculate unit prices for this fund. If you contact us after 12 noon, the units will be bought or sold at the next working day's price. This fund may not be appropriate for investors who plan to withdraw their money within five years.
Benchmark
  • IA £ Corporate Bond Sector
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
7%
1 Year rank in sector
27/92
Sector
UT Sterling Corporate Bond
Yield
3.5%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.33%
Fund size
£1,471m (£1,356m 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.
41
Bid price
138.2
Offer price
139.2
Top in this sector
Fund name1 Year
Schroder Long Dated Corp Bond12.4%
Newton Long Corporate Bond11.4%
F&C Instl Lg Dtd Corp Bd11.1%
Henderson Inst Long Dat Cr11%
Fidelity Inst UK Lg Crp Bd10.5%
...more in UT Sterling Corporate Bond

Performance snapshot

Holdings snapshot

  • UK62.5%
    Europe ex UK20.9%
    North America12.3%
    Others3.5%
    Central & S America0.6%
  • UK Corporate Bonds56.6%
    Fixed Interest37.3%
    UK Gilts5.8%
    Cash & Cash Equivalents0.3%
    Others0.1%
  • UK Corporate Fixed Interest56.6%
    Global Fixed Interest37.3%
    UK Gilts5.8%
    Cash & Cash Equivalents0.3%
    Others0.1%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.4%-5.7%2.8%7%20.6%41.9%
Sector-1.1%-4.4%2.6%6.3%17.7%34.2%
Rank within sector75 / 9780 / 9437 / 9427 / 9219 / 8719 / 71
Quartile4th4th2nd2nd1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund8.3%-0.2%11.9%0.6%14.7%
Sector7.5%-0.3%10.1%0.2%12.1%
Rank within sector27 / 9251 / 9021 / 8741 / 7824 / 71
Quartile2nd3rd1st3rd2nd
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.
-0.36
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.
1.24
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.
0.4
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%.
6.61
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.
1.4
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.
0.6
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.
0.99
Price movement
52 week high147.7
52 week low126.2
Current bid price138.2
Current offer price139.2
Current mid price-
Region
1UK62.45%
2Europe ex UK20.93%
3North America12.33%
4Others3.45%
5Central & S America0.57%
6Money Market0.27%
Industry sector
1UK Corporate Bonds56.61%
2Fixed Interest37.27%
3UK Gilts5.76%
4Cash & Cash Equivalents0.27%
5Others0.09%
Asset type
1UK Corporate Fixed Interest56.61%
2Global Fixed Interest37.27%
3UK Gilts5.76%
4Cash & Cash Equivalents0.27%
5Others0.09%
Individual holdings
1PRUDENTIAL PLC 11.375% 29/05/20391.78%
2TREASURY 4.25% GILT 07/03/36 GBP0.011.38%
3GE CAPITAL UK FUNDING UNLTD CO 8% NTS 14/01/39 GBP20001.24%
4SOCIETY LLOYD'S 7.421 21/06/17 49P1.19%
5WESTERN POWER DISTRIBUTION EAST MIDLANDS PLC (GBP 5.250, 17-JAN-2023)1.15%
6AT&T INC 7% BDS 30/04/40 GBP(VAR)1.08%
7CENTRICA PLC 7% NTS 19/09/33 GBP500001.08%
8GLAXOSMITHKLINE CAPITAL 5.25% GTD NTS 19/12/33 GBP10001.04%
9HEATHROW FUNDING LTD (GBP 7.125, 14-FEB-2024)1.01%
Management
Fund manager group
Legal & General UT Mgr
Fund manager company
Legal & General UT Mgr Ltd
Fund type
Unit Trust
Fund objective
The objective of this fund is to provide a high income and the potential for growth (if the income is reinvested). The fund will invest in bonds (a type of loan which pays interest). These bonds will have a pre-set rate of income (either set at a fixed level or varying in a pre-determined way). The bonds that the fund invests in will be almost entirely investment grade (rated as lower risk). Investment grade bonds are bonds that have achieved a higher credit rating from a rating agency. Credit ratings give an indication of how likely it is that the issuer of a bond will be able to pay back interest and the loan on time. The bonds that the fund invests in will be issued by companies or governments anywhere in the world. The fund may use derivatives (contracts which have a value linked to the price of another asset) to: • reduce risk or cost; or • generate additional capital or income with no, or an acceptably low, level of risk. The fund may also invest in cash or deposits. If you hold accumulation units, income from investments held by the fund (interest) will be reinvested into the value of your units. If you hold distribution units, income from investments held by the fund will be paid out to you every three months (as interest). You can buy or sell units in this fund on any working day. You need to contact us with your instruction before 12 noon. This is the time we calculate unit prices for this fund. If you contact us after 12 noon, the units will be bought or sold at the next working day's price. This fund may not be appropriate for investors who plan to withdraw their money within five years.
Benchmark
  • IA £ Corporate Bond Sector
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Mark Benstead31/08/2014Mark 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 held the title of Head of Credit, UK. Mark was closely involved with AXA’s successful entry into the buy and maintain credit strategy as well as delivering above-target performance on a range of segregated and annuity funds. Prior to that, he was at the Royal Bank of Canada in a variety of senior capital market roles, latterly as Managing Director, Head of Syndicate and European Debt Capital Markets. 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.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
L&G Fixed Interest Trust A Acc
Initial charge3%
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.92%
Total expense ratio (TER)-
Bid price131.7
Offer price136.6
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLT50
L&G Fixed Interest Trust A Inc
Initial charge3%
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.92%
Total expense ratio (TER)-
Bid price70.03
Offer price72.68
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeLT51
L&G Fixed Interest Trust F Acc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.57%
Total expense ratio (TER)-
Bid price134.7
Offer price135.7
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeG5XO
L&G Fixed Interest Trust F Inc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.57%
Total expense ratio (TER)-
Bid price70.76
Offer price71.29
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5XP
L&G Fixed Interest Trust I Acc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.33%
Total expense ratio (TER)-
Bid price138.2
Offer price139.2
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLT88
L&G Fixed Interest Trust I Inc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.33%
Total expense ratio (TER)-
Bid price70.05
Offer price70.58
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeLT89
L&G Fixed Interest Trust L Inc
Initial charge-
Annual charge-
Min single investment£100,000
Min regular saving£20,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBX
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE4RN
L&G Fixed Interest Trust R Acc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.92%
Total expense ratio (TER)-
Bid price131.7
Offer price132.6
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLE05
L&G Fixed Interest Trust R Inc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.92%
Total expense ratio (TER)-
Bid price70.03
Offer price70.56
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeLE85
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.