Fact sheet: L&G High Income Trust

Fund information
Fund name
L&G High Income Trust I Acc
Fund manager company
Legal & General UT Mgr Ltd
Fund type
Unit Trust
Fund managers
  • Martin Reevessince 01/11/2011
Fund objective
The objective of this fund is to provide a high income. 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 subinvestment grade (rated as higher risk). Sub-investment grade bonds are bonds that have achieved a lower 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. This fund may be suitable if you are willing to accept the potential for volatility.
Benchmark
No data available.
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
10.2%
1 Year rank in sector
3/22
Sector
UT Sterling High Yield
Yield
7%
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.
0.41%
Fund size
£1,364m (£1,351m 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
124
Offer price
125.4
Top in this sector
Fund name1 Year
Fidelity Global High Yield12.2%
Newton Global Hi Yield Bd10.3%
L&G High Income Trust10.2%
Investec MonthlyHiInc9.8%
JPM Global High Yield Bond9.1%
...more in UT Sterling High Yield

Performance snapshot

Holdings snapshot

  • North America57.5%
    Europe ex UK22.4%
    UK7.2%
    Australasia3.6%
    Central & S America2.4%
  • High Yield Bond86.9%
    Fixed Interest8%
    Investment Grade Corporate Bonds3.6%
    Cash & Cash Equivalents1%
    Government Bonds0.5%
  • Global Fixed Interest91.9%
    UK Corporate Fixed Interest7.2%
    Cash & Cash Equivalents1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%0.2%6.2%10.2%12.9%36.9%
Sector0.1%-0%4.2%6.8%10.6%39.5%
Rank within sector7 / 226 / 222 / 223 / 229 / 2115 / 19
Quartile2nd2nd1st1st2nd4th
Calendar performance
 YTD - 20162015201420132012
Fund13.4%-2.6%1.4%5.4%14.7%
Sector8.3%-0.3%1.8%6.2%18.4%
Rank within sector2 / 2217 / 2214 / 2119 / 2017 / 19
Quartile1st4th3rd4th4th
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.
-0.37
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.
1.43
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.
0.07
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%.
6.63
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.
2.73
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.
0.31
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.
0.91
Price movement
52 week high125.6
52 week low104.2
Current bid price124
Current offer price125.4
Current mid price-
Region
1North America57.46%
2Europe ex UK22.38%
3UK7.15%
4Australasia3.63%
5Central & S America2.44%
6Asia1.92%
7Emerging Asia1.73%
8European Emerging Markets1.14%
9Money Market1%
Industry sector
1High Yield Bond86.89%
2Fixed Interest7.96%
3Investment Grade Corporate Bonds3.64%
4Cash & Cash Equivalents1%
5Government Bonds0.51%
Asset type
1Global Fixed Interest91.85%
2UK Corporate Fixed Interest7.15%
3Cash & Cash Equivalents1%
Individual holdings
1AUSDRILL FINANCE PTY LTD 6.875% BDS 01/11/19 USD1000 144A1.45%
2NYRSTAR NETHERLANDS HLDGS BV 8.5% BDS 15/09/19 EUR100000 REG S1.33%
3KEYSTONE FINANCING PLC 9.5% BDS 15/10/19 GBP100000144A1.32%
4MHGE PARENT LLC/FINANCE 8.5% BDS 01/08/19 USD2000144A1.18%
5STRETFORD 6.75 15/07/24 REGS1.17%
6OVAKO AB 6.5% NTS 01/06/19 EUR1000144A1.04%
7HOT TOPIC INC 9.25% SR SECD NTS 15/06/21 USD1000 144A1.02%
8ARCELORMITTAL 7.75 01/03/41 (S2 US)1.01%
9ADIENT GLOBAL HOLDINGS LTD 3.5% BDS 15/08/24 EUR1000000.99%
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. 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 subinvestment grade (rated as higher risk). Sub-investment grade bonds are bonds that have achieved a lower 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. This fund may be suitable if you are willing to accept the potential for volatility.
Benchmark
No data available.
Investment style
High Yield
Investment method
Fixed Interest
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
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
L&G High Income Trust A Acc
Initial charge3%
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.15%
Total expense ratio (TER)-
Bid price116.5
Offer price121.4
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLT52
L&G High Income Trust A Inc
Initial charge3%
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.15%
Total expense ratio (TER)-
Bid price48.35
Offer price50.41
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeLT53
L&G High Income Trust F Acc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.65%
Total expense ratio (TER)-
Bid price119.8
Offer price121.2
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeG5XQ
L&G High Income Trust F Inc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.65%
Total expense ratio (TER)-
Bid price48.77
Offer price49.36
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeG5XR
L&G High Income Trust I Acc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.41%
Total expense ratio (TER)-
Bid price124
Offer price125.4
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLT90
L&G High Income Trust I Inc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.41%
Total expense ratio (TER)-
Bid price48.35
Offer price48.94
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeLT91
L&G High Income Trust L Acc
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
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE4RP
L&G High Income 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 codeE4RO
L&G High Income Trust R Acc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.15%
Total expense ratio (TER)-
Bid price116.5
Offer price117.9
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLE13
L&G High Income Trust R Inc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.15%
Total expense ratio (TER)-
Bid price48.35
Offer price48.94
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeLE34
L&G High Income Trust X Gross Acc
Initial charge-
Annual charge-
Min single investment£100,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.41%
Total expense ratio (TER)-
Bid price141.1
Offer price142.8
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeBMD0
L&G High Income Trust X Gross Inc
Initial charge-
Annual charge-
Min single investment£100,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.41%
Total expense ratio (TER)-
Bid price48.55
Offer price49.14
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeBMD1
Data provided by

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