Fact sheet: L&G UK Property Feeder

Fund information
Fund name
L&G UK Property Feeder I Acc
Fund manager company
Legal & General UT Mgr Ltd
Fund type
Unit Trust
Fund managers
  • Michael Barriesince 01/02/2006
  • Matt Jarvissince 01/01/2010
Fund objective
The objective of this fund is to provide a combination of income andgrowth by investing solely in the Legal & General UK Property Fund(the ‘Master Fund’). It may also hold cash where necessary to enablethe making of payments to unitholders or creditors.The fund aims to achieve investment returns very similar to those ofthe Master Fund.The Master Fund will typically invest at least 80% in a range of UKcommercial properties (but this can be as low as 60% where the fundmanager deems it to be in the interests of the fund and itsshareholders).The Master Fund may invest in all types of commercial property. TheMaster Fund may occasionally invest in residential property and mayalso develop properties. The Master Fund may also invest from timeto time in commercial properties in the Isle of Man and the ChannelIslands.The Master Fund may use derivatives (contracts which have a valuelinked to the price of another asset) for the following purposes:• To help with efficient day to day management.• To reduce some of the risks of the market.The Master Fund may also invest in other property-related assets,(including property-related UK shares and UK property-relatedauthorised investment funds), money market instruments, deposits,money market-related authorised investment funds and governmentbonds. Money market instruments are a type of security where cashcan be deposited for short periods of time.If you hold accumulation units in the Legal & General UK PropertyFeeder Fund, income from investments held by the fund (dividends)will be reinvested into the value of your units.If you hold distribution units in the Legal & General UK Property FeederFund, income from investments held by the fund will be paid out toyou (as a dividend).You can buy or sell units in this fund on any working day. You need tocontact us with your instruction before 12 noon. This is the time wecalculate unit prices for this fund. If you contact us after 12 noon, theunits will be bought or sold at the next working day's price.In addition to the charges set out in the charges section overleaf, theMaster Fund will incur transaction costs relating to the buying andselling of property. These costs are paid from the assets of the MasterFund.This fund may not be appropriate for investors who plan to withdrawtheir money within five years. The fund may be appropriate if youwould like to add a more specialist investment to an existing portfolio.
Benchmark
  • IA - Property
Investment style
None
Investment method
Feeder fund, Physical
Quick stats
1 Year return
0.6%
1 Year rank in sector
-
Sector
UT Property
Yield
3.1%
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.
0.75%
Fund size
£2,323m
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.
61
Bid price
74.33
Offer price
78.1
Top in this sector
Fund name1 Year
Aviva Inv Asia Pac Prop35.6%
Schroder Gbl Rel Est Sec Inc23.5%
First State AsianPropSec22%
BlackRock Gbl PrpSecEqTrk20.9%
F&C Gbl Real Est Secs20.2%
...more in UT Property

Performance snapshot

Holdings snapshot

  • Money Market27%
    Midlands16.7%
    Central London11.1%
    South East UK10.2%
    Yorkshire & Humberside6.2%
  • Cash & Cash Equivalents27%
    Offices - Property26.5%
    Industrials19%
    Warehouse - Property9.3%
    Others5.2%
  • Physical Property68%
    Cash & Cash Equivalents26.9%
    Property Shares5%
    Money Market0.2%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1%3%-2.2%0.6%26.6%38.1%
Sector-1.5%-0.8%1.5%3.8%20.6%34.3%
Rank within sector------
Quartile
Calendar performance
 YTD - 20162015201420132012
Fund-0.3%10.6%13.5%7.9%2.2%
Sector3%5.4%10.7%4.7%6.7%
Rank within sector-----
Quartile
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.
8.71
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.
-0.03
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.
1.35
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%.
3.59
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.
6.87
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.
-0.01
Price movement
52 week high76.51
52 week low66.23
Current bid price74.33
Current offer price78.1
Current mid price-
Region
1Money Market27.04%
2Midlands16.71%
3Central London11.06%
4South East UK10.17%
5Yorkshire & Humberside6.15%
6Scotland5.55%
7Not Specified5%
8North West UK4.47%
9Northern UK3.53%
Industry sector
1Cash & Cash Equivalents27.04%
2Offices - Property26.53%
3Industrials19.01%
4Warehouse - Property9.3%
5Others5.23%
6Retail - Property5.01%
7Indirect Property5%
8Leisure2.88%
Asset type
1Physical Property67.96%
2Cash & Cash Equivalents26.86%
3Property Shares5%
4Money Market0.18%
Individual holdings
No data available.
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 combination of income andgrowth by investing solely in the Legal & General UK Property Fund(the ‘Master Fund’). It may also hold cash where necessary to enablethe making of payments to unitholders or creditors.The fund aims to achieve investment returns very similar to those ofthe Master Fund.The Master Fund will typically invest at least 80% in a range of UKcommercial properties (but this can be as low as 60% where the fundmanager deems it to be in the interests of the fund and itsshareholders).The Master Fund may invest in all types of commercial property. TheMaster Fund may occasionally invest in residential property and mayalso develop properties. The Master Fund may also invest from timeto time in commercial properties in the Isle of Man and the ChannelIslands.The Master Fund may use derivatives (contracts which have a valuelinked to the price of another asset) for the following purposes:• To help with efficient day to day management.• To reduce some of the risks of the market.The Master Fund may also invest in other property-related assets,(including property-related UK shares and UK property-relatedauthorised investment funds), money market instruments, deposits,money market-related authorised investment funds and governmentbonds. Money market instruments are a type of security where cashcan be deposited for short periods of time.If you hold accumulation units in the Legal & General UK PropertyFeeder Fund, income from investments held by the fund (dividends)will be reinvested into the value of your units.If you hold distribution units in the Legal & General UK Property FeederFund, income from investments held by the fund will be paid out toyou (as a dividend).You can buy or sell units in this fund on any working day. You need tocontact us with your instruction before 12 noon. This is the time wecalculate unit prices for this fund. If you contact us after 12 noon, theunits will be bought or sold at the next working day's price.In addition to the charges set out in the charges section overleaf, theMaster Fund will incur transaction costs relating to the buying andselling of property. These costs are paid from the assets of the MasterFund.This fund may not be appropriate for investors who plan to withdrawtheir money within five years. The fund may be appropriate if youwould like to add a more specialist investment to an existing portfolio.
Benchmark
  • IA - Property
Investment style
None
Investment method
Feeder fund, Physical
Fund managers
NameSinceBiography
Michael Barrie01/02/2006Michael Barrie is a Director of LGP with specific responsibility for the Balanced Property Funds Portfolio (c.£3.4bn as at March 2010), including the L&G LPI Income Property Fund and the L&G Managed Property Fund. Michael joined LGP in 2005 having previously been a director of F&C Property Asset Management and lead fund manager for the RSA Life Unitised Fund & RSA Pension Unitised Fund. Over the last three calendar years of Michael’s management of these funds they outperformed the IPD benchmark by 2.0% and 1.1% per annum respectively. The Life Unitised Fund received the IPF/IPD/EG award for best 3-year rolling performance (Funds between £50m and £200m) in 2002. He also established and managed the ISIS Property Trust and the ISIS Property Trust 2 which were listed on the London Stock Exchange. Michael holds a degree in Land Economics, a post graduate diploma in Property Investment and is a Member of the Royal Institution of Chartered Surveyors (MRICS) and the Association of British Insurers Property Group.
Matt Jarvis01/01/2010Matt Jarvis joined Legal & General Property as an asset manager in November 2004 and is Co-Fund Manager of the UK Property Trust, having previously been a Commercial Valuer with Jones Lang LaSalle. Matt holds a degree in Land Management from Reading University and is a Member of the Royal Institution of Chartered Surveyors (MRICS).
Compliance
IA Recognised, Non UCITS Retail Scheme
Domicile
No data available.
Fund for sale in
United Kingdom
L&G UK Property Feeder C Acc
Initial charge-
Annual charge-
Min single investment£100,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.63%
Total expense ratio (TER)-
Bid price77.33
Offer price81.25
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKAGV
L&G UK Property Feeder C Inc
Initial charge-
Annual charge-
Min single investment£100,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.63%
Total expense ratio (TER)-
Bid price52.66
Offer price55.32
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKAGW
L&G UK Property Feeder F Acc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)-
Bid price70.3
Offer price73.86
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK6HI
L&G UK Property Feeder F Inc
Initial charge-
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)-
Bid price50.26
Offer price52.8
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeK6HH
L&G UK Property Feeder I Acc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£20,000
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)-
Bid price74.33
Offer price78.1
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK6HG
L&G UK Property Feeder I Inc
Initial charge-
Annual charge-
Min single investment£1,000,000
Min regular saving£20,000
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)-
Bid price50.67
Offer price53.23
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeK6HF
L&G UK Property Feeder L 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 classInstitutional
Domicile-
Citi codeN0CK
L&G UK Property Feeder R Acc
Initial charge5%
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.5%
Total expense ratio (TER)-
Bid price66.37
Offer price73.22
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK6HE
L&G UK Property Feeder R Inc
Initial charge5%
Annual charge-
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.5%
Total expense ratio (TER)-
Bid price48.22
Offer price53.2
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeK6HD
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