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Contact details

ManagerGroupLogo
One Coleman Street, London, EC2R 5AA
0845 070 8684 (Broker Line)
0370 050 0955 (Customer Support)
0207 528 6838 (Fax Number)

fundsales@lgim.co.uk

Fund managers

* Mark Benstead01-Sep-2014 to Present
 
view    
Robert Barnard-Smith»22-Apr-2014 to 31-Aug-2014
Richard Hodges»01-Feb-2014 to 21-Apr-2014
Michel Canoy»01-Mar-2011 to 31-Jan-2014
Richard Hodges»01-Feb-2009 to 28-Feb-2011
Malcolm White»01-Jan-2005 to 31-Jan-2009
Robert Barnard-Smith»01-Sep-2001 to 31-Dec-2004
James Pike»20-Oct-1997 to 02-Apr-2002
Michael Green»20-Oct-1997 to 02-Apr-2002


Investment objectives

The objective of this fund is to provide a high income each month. 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 usually 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 bodies anywhere in the world. The fund may use derivatives (contracts which have a value linked to the price of another asset) for the following purposes: To manage the effect of fluctuations in interest rates, to manage the effect of fluctuations in exchange rates with Sterling, to help with efficient day to day management, To reduce some of the risks of the market. The fund may also invest in cash or deposits.

Key Information

Fund vs sector

  1y 3y
Position 30 / 92 23 / 83
Quartile 2 2

Fund ratings

BLANKMstar OBSR
Analyst
(Qualitative)
FE Crown Rating: 3 FE Crown Rating
(Quantitative)

Ratios

  1y 3y
Volatility 4.69 5.27
Alpha -0.61 0.08
Beta 1.22 1.11
Sharpe 0.79 0.91
Info Ratio 0.85 1.07
R2 1.00 0.99
Quartiles:   1  2  3  4   help with ratios
vs. IMA Sterling Corporate Bond»
performance chart
chart
    1y3y5y12m-24m24m-36m36m-48m48m-60m
ACC +6.3+28.0+42.6+3.8+16.0-1.9+13.6
  IMA STERLING CORPORATE BOND   +5.6+24.2+37.3+3.6+13.5-0.9+11.6
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf L&G MANAGED MONTHLY INCOME F ACC ACC 103.70 (p) 104.50 (p) 24-Oct-2014 4.80 0.68% G5XS B89QKW6
pdf L&G MANAGED MONTHLY INCOME F INC INC 61.39 (p) 61.88 (p) 24-Oct-2014 4.80 0.68% G5XT B70X687
pdf L&G MANAGED MONTHLY INCOME I ACC ACC 106.50 (p) 107.20 (p) 24-Oct-2014 5.00 0.44% LT96 B0CNHQ1
pdf L&G MANAGED MONTHLY INCOME I INC INC 60.76 (p) 61.25 (p) 24-Oct-2014 5.00 0.44% LT97 B0CNHP0
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf L&G MANAGED MONTHLY INCOME R ACC ACC 101.60 (p) 105.50 (p) 24-Oct-2014 4.30 1.18% BB77 3080311
pdf L&G MANAGED MONTHLY INCOME R INC INC 60.73 (p) 63.06 (p) 24-Oct-2014 4.30 1.18% BB94 0157229

The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.

Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.

Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.

The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.

Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.

Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.

Detailed fund information
Fund type flag UK Unit Trust
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£382.9m / $615.8m (30-Sep-14)
Savings plan Fund has Savings Plan Minimum: £ 50.0 Monthly Launch20-Oct-1997
Pricing times12:00 Daily Dealing frequencyDaily
Dealing timesMon-Fri 08:30 to 18:00 Sat 09:00 to 13:00
Minimum initial£ 500
Minimum additional£ 100
Initial charge3.00%
Annual management charge1.00%
Note to chargesn/a
Trustee / DepositaryNational Westminster Bank plc
RegistrarLegal & General (Portfolio Management Services)Lim
Multi-Managern/a
Indexn/a
Dividend policyJan 23, Feb 23 (Final), Mar 23, Apr 23, May 23, Jun 23, Jul 23, Aug 23, Sep 23, Oct 23, Nov 23, Dec 23
Peer groups
Region Asset Class Investment Focus Sector
Global Fixed Interest Mixed IMA Sterling Corporate Bond
Largest holdings, 31-Aug-2014
Holding (%) Rank Fund factsheet Equity factsheet
BARCLAYS BANK PLC 10% SUB NTS 21/05/21 GBP50000 2.04 1 - -
PRUDENTIAL 11.375% NTS 29/05/39 GBP50000 1.69 2 - -
STANDARD CHARTERED PLC 5.375% PERPETUAL 1.61 3 - -
EDF 6.125% NTS 02/06/34 GBP50000 1.35 4 - -
E.ON INTERNATIONAL FINANCE 6% SNR EMTN 30/10/19 GBP50000 1.24 5 - -
GENERAL ELECTRIC CO (GBP 8.000, 14-JAN-2039 ) 1.18 6 - -
GREENE KING FINANCE 5.106% NTS 15/03/34 GBP1000 1.15 7 - -
COVENTRY BUILDING SOCIETY 6% SNR UNSEC NTS 16/10/19 GBP50000 1.11 8 - -
SEVERN TRENT UTILITIES FINANCE PLC 6.25% GTD BDS 7/6/2029 GBP(VAR) 1.11 9 - *
TELEREAL SECURITISATION (GBP 5.389, 10-DEC-2031) 1.08 10 - -
Total13.56 
Regional weightings, 31-Aug-2014
Region(%)Rank 
UK51.221 51.22% UK
Developed Europe - excl UK26.622 26.62% Developed Europe - excl UK
North America15.783 15.78% North America
Cash and equivalents1.924 1.92% Cash and equivalents
Australia and New Zealand1.735 1.73% Australia and New Zealand
Central & S America1.186 1.18% Central & S America
Non-classified0.817 0.81% Non-classified
Developed Asia0.488 0.48% Developed Asia
European Emerging Markets0.149 0.14% European Emerging Markets
Emerging Asia0.1110 0.11% Emerging Asia
Middle East/ Africa0.0111 0.01% Middle East/ Africa
Total100.00 
Sector weightings, 31-Aug-2014
Sector(%)Rank 
Investment grade corporate bonds81.351 81.35% Investment grade corporate bonds
High yield corporate bond13.762 13.76% High yield corporate bond
Government Bonds2.393 2.39% Government Bonds
Cash & Cash Equivalents1.934 1.93% Cash & Cash Equivalents
Fixed Interest1.215 1.21% Fixed Interest
Non-classified-0.646 -0.64%  Non-classified
Total100.00 

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

 
 
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Asset allocation

UK Corporate Fixed Interest, 50.09%
50.0900% ofUK Corporate Fixed Interest
Global Fixed Interest, 47.49%
47.4900% ofGlobal Fixed Interest
Cash & Cash Equivalents, 1.93%
1.9300% ofCash & Cash Equivalents
UK Gilts, 1.13%
1.1300% ofUK Gilts
Others, -0.64%
-0.6400% ofOthers

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