Fact sheet: L&G Sterling Income

Fund information
Fund name
L&G Sterling Income I Acc
Fund manager company
Legal & General UT Mgr Ltd
Fund type
Unit Trust
Fund managers
  • Mark Bensteadsince 31/08/2014
Fund objective
The objective of this fund is to provide a high income, whilst aiming to preserve capital over the long term.||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 at least 80% investment grade (rated as lower risk). The fund may also invest up to 20% in sub-investment grade bonds (rated as higher risk). Investment and sub-investment grade bonds are bonds that have been given a credit rating by 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 may be issued by companies, governments or other public issuers worldwide.||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, deposits or other authorised investment funds.||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 income units, income from investments held by the fund will be paid out to you monthly (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.
Benchmark
  • £ Corporate Bond
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
6.3%
1 Year rank in sector
56/92
Sector
UT Sterling Corporate Bond
Yield
3.9%
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.
0.42%
Fund size
£618m (£612m 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.
26
Top in this sector
Fund name1 Year
Schroder Long Dated Corp Bond12.5%
F&C Instl Lg Dtd Corp Bd12%
Henderson Inst Long Dat Cr11.9%
Insight UK Corp Lg Mat Bd11.9%
Newton Long Corporate Bond11.4%
...more in UT Sterling Corporate Bond

Performance snapshot

Holdings snapshot

  • UK60.2%
    USA14.9%
    France6.8%
    Netherlands6.4%
    Others5.1%
  • Investment Grade Corporate Bonds80%
    High Yield Bond12.2%
    Fixed Interest5.7%
    Government Bonds1.7%
    Cash & Cash Equivalents0.4%
  • UK Corporate Fixed Interest59.7%
    Global Fixed Interest39.3%
    UK Gilts0.5%
    Cash & Cash Equivalents0.4%
    Others0.1%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.8%-3.1%3.1%6.3%17.3%38.3%
Sector-1.4%-4.6%2.6%6.7%17.6%34.2%
Rank within sector18 / 9722 / 9425 / 9456 / 9254 / 8732 / 71
Quartile1st1st2nd3rd3rd2nd
Calendar performance
 YTD - 20162015201420132012
Fund6.9%0.2%9.6%2.4%13.7%
Sector7.3%-0.3%10.1%0.2%12.1%
Rank within sector57 / 9231 / 9056 / 8712 / 7832 / 71
Quartile3rd2nd3rd1st2nd
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.
0.58
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.
0.88
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.
0.36
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%.
4.72
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.
1.04
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.
-0.03
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.
0.97
Price movement
52 week high189.4
52 week low168.8
Current bid price-
Current offer price-
Current mid price183.3
Region
1UK60.24%
2USA14.89%
3France6.78%
4Netherlands6.44%
5Others5.05%
6Luxembourg1.34%
7Belgium1.31%
8Mexico0.94%
9Australia0.92%
Industry sector
1Investment Grade Corporate Bonds79.96%
2High Yield Bond12.21%
3Fixed Interest5.68%
4Government Bonds1.67%
5Cash & Cash Equivalents0.43%
6Others0.05%
Asset type
1UK Corporate Fixed Interest59.71%
2Global Fixed Interest39.32%
3UK Gilts0.49%
4Cash & Cash Equivalents0.43%
5Others0.05%
Individual holdings
1BG ENERGY CAPITAL 6.5% CAP SECS BDS 30/11/72 GBP1000001.87%
2SOUTH EASTERN POWER NETWORKS PLC 6.375% 12/11/20311.3%
3GLAXOSMITHKLINE CAPITAL 5.25% GTD NTS 19/12/33 GBP10001.25%
4JUNEAU INVESTMENTS LLC 5.9% NTS 22/2/2021 GBP10001.22%
5ELECTRICITE DE FRANCE 6.250% 30/05/20281.16%
6THAMES WATER UTILITIES CAYMAN FIN 5.75% MTN 13/09/30 GBP10001.16%
7HEATHROW FUNDING LTD 6% BDS 20/03/20 GBP100000 B31.09%
8NGG FINANCE 5.625% RESET CAP SEC 18/06/73 GBP1000001.09%
9NWEN FINANCE PLC (GBP 5.875, 21-JUN-2021)1.08%
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, whilst aiming to preserve capital over the long term.||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 at least 80% investment grade (rated as lower risk). The fund may also invest up to 20% in sub-investment grade bonds (rated as higher risk). Investment and sub-investment grade bonds are bonds that have been given a credit rating by 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 may be issued by companies, governments or other public issuers worldwide.||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, deposits or other authorised investment funds.||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 income units, income from investments held by the fund will be paid out to you monthly (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.
Benchmark
  • £ Corporate Bond
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Mark Benstead31/08/2014Mark is a senior UK investment grade portfolio manager with responsibility for LGIM’s retail funds. Mark joined LGIM in 2014 from AXA Investment Managers where he held the title of Head of Credit, UK. Mark was closely involved with AXA’s successful entry into the buy and maintain credit strategy as well as delivering above-target performance on a range of segregated and annuity funds. Prior to that, he was at the Royal Bank of Canada in a variety of senior capital market roles, latterly as Managing Director, Head of Syndicate and European Debt Capital Markets. Mark graduated from the University College of North Wales with a BA (hons) in economics in 1984 and from the University of Bradford Management Centre with an MBA in 1985. He also holds the Investment Management Certificate.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
L&G Sterling Income A Acc
Initial charge-
Annual charge-
Min single investment£20
Min regular saving£20
Available in ISAYes
Ongoing charge (OCF)1.36%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price177.1
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJ07
L&G Sterling Income A Inc
Initial charge-
Annual charge-
Min single investment£20
Min regular saving£20
Available in ISAYes
Ongoing charge (OCF)1.36%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.2
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJ06
L&G Sterling Income F Acc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.66%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price181.9
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI0CG
L&G Sterling Income F Inc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.66%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.4
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI0CH
L&G Sterling Income I Acc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.42%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price183.3
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGTPS
L&G Sterling Income I Inc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.42%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.3
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeGTPT
L&G Sterling Income 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 codeE4RT
L&G Sterling Income R Acc
Initial charge5%
Annual charge-
Min single investment£20
Min regular saving£20
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price177.1
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEPV4
L&G Sterling Income R Inc
Initial charge5%
Annual charge-
Min single investment£20
Min regular saving£20
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.2
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeEQE2
Data provided by

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