Fact sheet: L&G M&G Sht Dtd Corp Bd Pn

Fund information
Fund name
L&G M&G Short Dated Corporate Bond Pn G25
Fund manager company
Legal & General Assurance Soc
Fund type
Pension Fund
Fund managers
  • Ben Lordsince 31/08/2013
  • Matthew Russellsince 31/08/2013
Underlying fund
M&G Short Dated Corp Bd
Fund objective
The fund invests in a range of typically low-risk debt instruments such as floating rate notes and short-dated corporate bonds with the aim of providing income with stability of capital over a rolling three- to five-year period. There is no guarantee that the fund will achieve its objective over this, or any other, period. The level of income provided may vary over time. In-depth research is at the heart of the investment process and exposure to these debt instruments is gained through physical holdings and the use of derivatives.
Benchmark
  • No Specified Index
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
2.7%
1 Year rank in sector
254/260
Sector
PN Sterling Corporate Bond
Yield
-
Fund size
£1m (£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.
12
Bid price
121.07
Offer price
121.07
Top in this sector
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Performance snapshot

Holdings snapshot

  • UK52.3%
    USA26.2%
    Germany4.2%
    Ireland3.7%
    Switzerland2.8%
  • Asset/Mortgage-Backed Securities32.1%
    Banks22.4%
    Government Bonds18%
    Real Estate3.6%
    Automotive3.5%
  • UK Corporate Fixed Interest47.2%
    UK Gilts18%
    US Corporate Fixed Interest12.6%
    German Corporate Fixed Interest4.2%
    Irish Corporate Fixed Interest3.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.3%-0.1%1.6%2.7%5.4%11%
Sector-1.3%-4.7%2.5%6.8%19%38.6%
Rank within sector12 / 2658 / 265234 / 265254 / 260232 / 235209 / 210
Quartile1st1st4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund2.6%0.9%1.8%2.5%2.8%
Sector7.7%0.2%10.5%1%13.5%
Rank within sector257 / 26072 / 246231 / 23561 / 226209 / 210
Quartile4th2nd4th2nd4th
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.
0.77
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.
0.19
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
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%.
1.69
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.
4.51
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.
-0.82
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.
0.36
Price movement
52 week high121.76
52 week low116.08
Current bid price121.07
Current offer price121.07
Current mid price-
Region
1UK52.35%
2USA26.18%
3Germany4.25%
4Ireland3.7%
5Switzerland2.83%
6Netherlands2.06%
7Portugal1.95%
8United Arab Emirates1.59%
9Money Market1.58%
Industry sector
1Asset/Mortgage-Backed Securities32.13%
2Banks22.36%
3Government Bonds17.98%
4Real Estate3.57%
5Automotive3.53%
6Telecommunications2.47%
7Electronics2.34%
8Insurance1.82%
9Media1.61%
Asset type
1UK Corporate Fixed Interest47.18%
2UK Gilts17.98%
3US Corporate Fixed Interest12.62%
4German Corporate Fixed Interest4.25%
5Irish Corporate Fixed Interest3.7%
6Dutch Corporate Fixed Interest2.06%
7Portuguese Corporate Fixed Interest1.95%
8Swedish Corporate Fixed Interest1.74%
9GCC Corporate Fixed Interest1.59%
Individual holdings
1TREASURY 1.5 GILT 22/01/21 GBP0.017.88%
2TREASURY 1% GILT 07/09/17 GBP0.016.09%
3TREASURY 2% GILT 22/07/20 GBP0.014.01%
4PNC BANK NA PITTSBURGH PA 2.3% BDS 01/06/20 USD10001.78%
5UBS AG(STAMFORD) FRN 26/03/18 USD2500001.74%
6UBM PLC 6.5% BDS 23/11/16 GBP500001.61%
7DUBAI HLDGS COMMERCIAL OPERATIONS 6% EMTN 01/02/17 GBP500001.59%
8MELLON CAPITAL IV 6.244% BDS 29/06/43 USD10001.56%
9USB CAPITAL IX1.49%
Management
Fund manager group
Legal & General
Fund manager company
Legal & General Assurance Soc
Fund type
Pension Fund
Fund objective
The fund invests in a range of typically low-risk debt instruments such as floating rate notes and short-dated corporate bonds with the aim of providing income with stability of capital over a rolling three- to five-year period. There is no guarantee that the fund will achieve its objective over this, or any other, period. The level of income provided may vary over time. In-depth research is at the heart of the investment process and exposure to these debt instruments is gained through physical holdings and the use of derivatives.
Benchmark
  • No Specified Index
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Ben Lord31/08/2013Ben Lord joined M&G in 2007 and is the fund manager of the M&G UK Inflation Linked Corporate Bond Fund. Ben has also managed the M&G Global Corporate Bond Fund from launch in September 2013 and was appointed fund manager of the M&G Index Linked Bond Fund in July 2015. Ben previously worked at Gordian Knot as a credit analyst covering global financial institutions. He obtained an MA (Hons) from the University of Edinburgh and is a CFA charterholder.
Matthew Russell31/08/2013Matthew Russell joined M&G in 2007 and was appointed fund manager of the M&G Short Dated Corporate Bond Fund in September 2013, having served as deputy fund manager since 2011. He was also appointed fund manager of the M&G Gilt & Fixed Interest Income Fund in July 2015. Matthew joined M&G as a fund managers’ assistant covering the retail fixed interest fund range. He has a BSc in economics from the University of Birmingham and is also a CFA charterholder.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
L&G M&G Short Dated Corporate Bond Pn 3
Initial charge-
Annual charge0.52%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.67%
Bid price123.65
Offer price123.65
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNCZ5
L&G M&G Short Dated Corporate Bond Pn G25
Initial charge1.04%
Annual charge1.04%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.04%
Bid price121.07
Offer price121.07
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeL750
Data provided by

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