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). 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
14%
1 Year rank in sector
2/23
Sector
UT Sterling High Yield
Yield
6.3%
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
£1,435m (£1,314m 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.
40
Bid price
131.9
Offer price
133
Top in this sector
Fund name1 Year
Fidelity Global High Yield14.4%
L&G High Income Trust14%
Schroder Hi Yield Opps13.7%
AXA Global High Income13.2%
Newton Global Hi Yield Bd12.3%
...more in UT Sterling High Yield

Performance snapshot

Holdings snapshot

  • USA50.6%
    UK10.9%
    Others10.8%
    Brazil5.6%
    China3%
  • Consumer Services19.7%
    Industrials16.2%
    Oil & Gas15.7%
    Consumer Goods11.4%
    Basic Materials9.8%
  • US Fixed Interest50.6%
    UK Fixed Interest10.9%
    Global Fixed Interest10.8%
    Brazilian Fixed Interest5.6%
    Chinese Fixed Interest3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.9%1.5%7%14%13.6%37%
Sector1.3%1.8%5.6%10.5%11.9%37%
Rank within sector21 / 2312 / 233 / 232 / 2310 / 2214 / 21
Quartile4th3rd1st1st2nd3rd
Calendar performance
 YTD - 20172016201520142013
Fund4.4%15.6%-2.6%1.4%5.4%
Sector3.6%9.9%-0.3%1.8%6.2%
Rank within sector3 / 232 / 2318 / 2315 / 2220 / 21
Quartile1st1st4th3rd4th
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.
-0.3
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.
1.42
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.
0.15
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%.
6.73
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.
2.74
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.
0.38
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 high132.3
52 week low115.7
Current bid price131.9
Current offer price133
Current mid price-
Region
1USA50.57%
2UK10.9%
3Others10.78%
4Brazil5.64%
5China3.01%
6Luxembourg2.96%
7Sweden2.6%
8Canada2.21%
9Russia2.15%
Industry sector
1Consumer Services19.65%
2Industrials16.24%
3Oil & Gas15.71%
4Consumer Goods11.44%
5Basic Materials9.79%
6Financials6.27%
7Health Care4.82%
8Cash & Cash Equivalents4.48%
9Telecommunications4.4%
Asset type
1US Fixed Interest50.57%
2UK Fixed Interest10.9%
3Global Fixed Interest10.78%
4Brazilian Fixed Interest5.64%
5Chinese Fixed Interest3.01%
6Luxembourg Fixed Interest2.96%
7Swedish Fixed Interest2.6%
8Canadian Fixed Interest2.21%
9Russian Fixed Interest2.15%
Individual holdings
1AUSDRILL FINANCE PTY LTD 6.875% BDS 01/11/19 USD1000 144A1.35%
2CORRAL PETROLEUM 11.75 15/05/21 REGS1.26%
3DEA FINANCE SA 7.5% BDS 15/10/22 144A EUR1000001.23%
4ADIENT GLOBAL HOLDINGS LTD 3.5% BDS 15/08/24 EUR1000001.19%
5BHP BILLITON FINANCE 6.5% SUB NC7 RST NTS 22/10/77 GBP1000001.1%
6MHGE PARENT LLC/FINANCE 8.5% BDS 01/08/19 USD2000144A1.09%
7NYRSTAR NETHERLANDS HLDGS BV 8.5% BDS 15/09/19 EUR100000 REG S1.08%
8BISOHO SAS 5.875% BDS 01/05/23 EUR10001.05%
9CLEAVER-BROOKS INC 8.75% BDS 15/12/19 USD1000 144A1.04%
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). 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 price123.5
Offer price128.3
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price50.53
Offer price52.49
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price127.3
Offer price128.4
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price51.01
Offer price51.46
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price131.9
Offer price133
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price50.6
Offer price51.04
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price123.5
Offer price124.5
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price50.53
Offer price50.97
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price150.2
Offer price151.4
Mid price-
CurrencyGBX
Price updated23/05/2017
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 price50.81
Offer price51.25
Mid price-
CurrencyGBX
Price updated23/05/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeBMD1
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

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.