Fact sheet: L&G Sht Dtd Stg Corp Bd Idx

Fund information
Fund name
L&G Short Dated Sterling Corporate Bond Index I Acc
Fund manager company
Legal & General UT Mgr Ltd
Fund type
Unit Trust
Fund manager
  • LGIM Index Fund Management Teamsince 29/09/2013
Fund objective
The objective of this fund is to provide income and capital growth (if the income is reinvested) by tracking the total return of the Markit iBoxx Sterling Corporates 1-5 Index.The fund will invest between 70% and 100% in bonds (a type ofloan which pays interest) included in the Index. The fund’sinvestments will closely match those that make up the Index. TheIndex consists of bonds which are issued in Sterling by UK oroverseas companies. The bonds will have between1 and 5 years until they mature, and the company pays back the loan. The bonds that the fund invests in will be between 70% and 100% 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 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 acceptablylow, level of risk.The fund may also invest in deposits, money market instrumentsand cash. Money market instruments are a type of security wherecash can be deposited for short periods of time.If you hold accumulation units, income from investments held bythe fund (interest) will be reinvested into the value of your units.If you hold distribution units, income from investments held bythe fund will be paid out to you every six months (as interest).You can buy or sell units in this fund on any working day. Youneed to contact us with your instruction before 12 noon. This isthe time we calculate unit prices for this fund. If you contact usafter 12 noon, the units will be bought or sold at the next workingday's price.This fund may not be appropriate for investors who plan towithdraw their money within five years..
Benchmark
  • Markit iBoxx Sterling Corporates 1-5 Year TR
Investment style
Passive/Tracking
Investment method
Physical - Full, Fixed Interest
Quick stats
1 Year return
4%
1 Year rank in sector
79/92
Sector
UT Sterling Corporate Bond
Yield
2.6%
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.
0.14%
Fund size
£280m (£237m 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.
10
Bid price
53.73
Offer price
53.91
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

  • UK46%
    Europe ex UK33.5%
    North America11.6%
    Australasia4.9%
    Others2.7%
  • Investment Grade Corporate Bonds95.7%
    Government Bonds1.6%
    High Yield Bond1.4%
    Cash & Cash Equivalents0.7%
    Others0.7%
  • UK Fixed Interest46%
    Europe ex UK Fixed Interest33.5%
    North American Fixed Interest11.6%
    Asia Pacific Fixed Interest4.9%
    Global Fixed Interest2.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0%-0.3%1.9%4%--
Sector-1.1%-4.4%2.6%6.3%17.7%34.2%
Rank within sector2 / 975 / 9471 / 9479 / 92--
Quartile1st1st4th4th
Calendar performance
 YTD - 20162015201420132012
Fund4.3%0.9%---
Sector7.5%-0.3%10.1%0.2%12.1%
Rank within sector80 / 9211 / 90---
Quartile4th1st
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.
-
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.
-
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.
-
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%.
-
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.
-
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.
-
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.
-
Price movement
52 week high53.94
52 week low51.34
Current bid price53.73
Current offer price53.91
Current mid price-
Region
1UK45.99%
2Europe ex UK33.45%
3North America11.57%
4Australasia4.88%
5Others2.72%
6Money Market0.74%
7Central & S America0.65%
Industry sector
1Investment Grade Corporate Bonds95.66%
2Government Bonds1.57%
3High Yield Bond1.37%
4Cash & Cash Equivalents0.74%
5Others0.66%
Asset type
1UK Fixed Interest45.99%
2Europe ex UK Fixed Interest33.45%
3North American Fixed Interest11.57%
4Asia Pacific Fixed Interest4.88%
5Global Fixed Interest2.72%
6Money Market0.74%
7American Emerging Fixed Interest0.65%
Individual holdings
1BARCLAYS BANK PLC 10% SUB NTS 21/05/21 GBP500001.05%
2HSBC HLDGS CALL SUB 6.375%/FLTG RT NTS 18/10/22 GBP0.98%
3BP CAPITAL MARKETS 4.325% NTS 10/12/18 GBP1000000.96%
4ING BANK NV LONDON 6.875% BDS 29/05/23 GBP500000.96%
5NATIONWIDE BUILDING SOCIETY 5.625% NTS 09/09/19 GBP500000.88%
6TELEFONICA EMISIONES SAU 5.597% NTS 12/03/20 GBP10000.88%
7INTERNATIONAL BUS MACH CORP 2.75% BDS 21/12/20 GBP1000000.87%
8JPMORGAN CHASE & CO 1.875% MTN 10/02/20 GBP1000000.82%
9STANDARD CHARTERED BANK 7.75% SUBORD NTS 03/04/18 GBP500000.82%
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 income and capital growth (if the income is reinvested) by tracking the total return of the Markit iBoxx Sterling Corporates 1-5 Index.The fund will invest between 70% and 100% in bonds (a type ofloan which pays interest) included in the Index. The fund’sinvestments will closely match those that make up the Index. TheIndex consists of bonds which are issued in Sterling by UK oroverseas companies. The bonds will have between1 and 5 years until they mature, and the company pays back the loan. The bonds that the fund invests in will be between 70% and 100% 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 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 acceptablylow, level of risk.The fund may also invest in deposits, money market instrumentsand cash. Money market instruments are a type of security wherecash can be deposited for short periods of time.If you hold accumulation units, income from investments held bythe fund (interest) will be reinvested into the value of your units.If you hold distribution units, income from investments held bythe fund will be paid out to you every six months (as interest).You can buy or sell units in this fund on any working day. Youneed to contact us with your instruction before 12 noon. This isthe time we calculate unit prices for this fund. If you contact usafter 12 noon, the units will be bought or sold at the next workingday's price.This fund may not be appropriate for investors who plan towithdraw their money within five years..
Benchmark
  • Markit iBoxx Sterling Corporates 1-5 Year TR
Investment style
Passive/Tracking
Investment method
Physical - Full, Fixed Interest
Fund manager
NameSinceBiography
LGIM Index Fund Management Team29/09/2013The Index Fund management team comprises 29 investment professionals with average industry experience of 14 years. Together they are responsible for a wide range of index funds – covering equities, fixed income and alternative asset classes. The team has £277 billion index assets under management. All data as at 31 December 2015
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
L&G Short Dated Sterling Corporate Bond Index C Acc
Initial charge-
Annual charge-
Min single investment£100,000,000
Min regular saving£20,000
Available in ISANo
Ongoing charge (OCF)0.09%
Total expense ratio (TER)-
Bid price53.79
Offer price53.97
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK6GS
L&G Short Dated Sterling Corporate Bond Index C Inc
Initial charge-
Annual charge-
Min single investment£100,000,000
Min regular saving£20,000
Available in ISANo
Ongoing charge (OCF)0.09%
Total expense ratio (TER)-
Bid price51.17
Offer price51.34
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeK6GR
L&G Short Dated Sterling Corporate Bond Index I Acc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£20,000
Available in ISANo
Ongoing charge (OCF)0.14%
Total expense ratio (TER)-
Bid price53.73
Offer price53.91
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK6GU
L&G Short Dated Sterling Corporate Bond Index I Inc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£20,000
Available in ISANo
Ongoing charge (OCF)0.14%
Total expense ratio (TER)-
Bid price51.1
Offer price51.27
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeK6GT
L&G Short Dated Sterling Corporate Bond Index P Acc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
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 classRetail
Domicile-
Citi codeM45L
L&G Short Dated Sterling Corporate Bond Index P Inc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
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 classRetail
Domicile-
Citi codeM45K
Data provided by

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