Fact sheet: L&G High Income Pn

Fund information
Fund name
L&G High Income Pn 3
Fund manager company
Legal & General Assurance Soc
Fund type
Pension Fund
Fund managers
  • Martin Reevessince 01/11/2011
No data available.
Fund objective
To provide a high income from a portfolio of subinvestment grade fixed interest securities, issued by companies in the UK and overseas.
Benchmark
  • No Specified Index
Investment style
No data available.
Investment method
None
Quick stats
1 Year return
23.1%
1 Year rank in sector
2/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£8m (£6m 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.
44
Bid price
1963.6
Offer price
1963.6
Top in this sector
Fund name1 Year
Aviva JPM Gbl HighYldBd Pn23.4%
L&G High Income Pn23.1%
SIP JPM Gbl Hi Yd Bd Pn22.6%
OMW JPM Global High Yield21.6%
Royal London JPM Gbl Hi Yield Bd Pn21.2%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • North America54.1%
    Europe ex UK21.4%
    UK8.1%
    Money Market4.6%
    Australasia3.9%
  • High Yield Bond87.4%
    Others4.9%
    Cash & Cash Equivalents4.6%
    Investment Grade Corporate Bonds2.7%
    Government Bonds0.5%
  • Global Fixed Interest87.3%
    UK Corporate Fixed Interest8.1%
    Cash & Cash Equivalents4.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.5%2.2%7.6%23.1%19.9%46.6%
Sector0.9%1.2%4%14.7%15.7%44.5%
Rank within sector10 / 586 / 571 / 572 / 568 / 4918 / 46
Quartile1st1st1st1st1st2nd
Calendar performance
 YTD - 20172016201520142013
Fund1.3%17%-1.1%3.6%5.8%
Sector0.6%11.2%-0.1%4.4%6.8%
Rank within sector5 / 581 / 5634 / 5423 / 4943 / 49
Quartile1st1st3rd2nd4th
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.
-0.42
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.
1.32
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.
0.42
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%.
6.53
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.
3.32
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.
0.33
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.
0.79
Price movement
52 week high1966.7
52 week low1581.8
Current bid price1963.6
Current offer price1963.6
Current mid price-
Region
1North America54.08%
2Europe ex UK21.35%
3UK8.13%
4Money Market4.62%
5Australasia3.89%
6Central & S America2.23%
7Asia1.77%
8Emerging Asia1.6%
9European Emerging Markets1.09%
Industry sector
1High Yield Bond87.36%
2Others4.91%
3Cash & Cash Equivalents4.62%
4Investment Grade Corporate Bonds2.65%
5Government Bonds0.46%
Asset type
1Global Fixed Interest87.25%
2UK Corporate Fixed Interest8.13%
3Cash & Cash Equivalents4.62%
Individual holdings
1AUS FIN PTY LTD 6.875 01/11/19 144A1.4%
2KEYSTONE FINANCING PLC 9.5% BDS 15/10/19 GBP100000144A1.31%
3NYRSTAR NETHERLANDS HLDGS BV 8.5% BDS 15/09/19 EUR100000 144A1.29%
4FMG RES AUG 2006 9.75 01/03/22 144A1.23%
5STRETFORD 6.75 15/07/24 REGS1.18%
6MHGE PARENT LLC/FINANCE 8.5% BDS 01/08/19 USD2000144A1.11%
7DEA FINANCE SA 7.5% BDS 15/10/22 144A EUR1000001.04%
8OVAKO AB 6.5% NTS 01/06/19 EUR1000144A1.01%
9HOT TOPIC INC 9.25% SR SECD NTS 15/06/21 USD1000 144A0.98%
Management
Fund manager group
Legal & General
Fund manager company
Legal & General Assurance Soc
Fund type
Pension Fund
Fund objective
To provide a high income from a portfolio of subinvestment grade fixed interest securities, issued by companies in the UK and overseas.
Benchmark
  • No Specified Index
Investment style
No data available.
Investment method
None
Fund managers
NameSinceBiography
Martin Reeves01/11/2011Martin Reeves is Head of Global High Yield. Prior to joining LGIM in 2011, Martin ran Credit Research at AllianceBernstein where he worked since 1998. Prior to Alliance Bernstein Martin was Head of US High Yield Research at UBK Asset Management and a Chartered Accountant with Ernst & Young. Martin holds an MA in Economics from Cambridge University, St Catharine’s College.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
L&G High Income Pn 3
Initial charge-
Annual charge0.3%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.34%
Bid price1963.6
Offer price1963.6
Mid price-
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNCV9
L&G High Income Pn G25
Initial charge-
Annual charge0.2%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.24%
Bid price1974.5
Offer price1974.5
Mid price-
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeL549
Data provided by

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