Legal & General Global Health & Pharmaceutical Index I

Tracks the Health & Pharmaceuticals sectors globally from the FTSE All World index.

  • 80.92p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 104.10p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.30%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.31%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 1.20%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 20 January 2021

The first trust to track global blue chip healthcare & pharmaceutical companies, it offers a passive option to technology investing with an emphasis on established giants. Our opinion however is that within emerging, specialist sectors, dedicated active managers add value and perform better.

Fund summary

Sector Global
Structure UNIT TRUST
Launched August, 2005
Size £656m
Yield 1.20%
Charging basis Income
Dividends paid 7 Mar

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.30%
Ongoing charges figure 0.31%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The investment objective is to secure capital growth from a portfolio of securities of companies engaged in Health and Pharmaceuticals. Securities representing all such companies in the developed and advanced emerging segments of the FTSE All-World Index will normally be held with weighting generally proportionate to their market capitalisation. The largest 90% of companies by market cap are covered, which number around 90. Since Pfizer exceeds the 10% limit in any one stock imposed by IMRO, the trust will hold Medium Term Notes to simulate the performance of the shares. The fund fully replicates the index.

Manager research

Average monthly relative returns

  • 16/17 -0.78%
  • 17/18 0.00%
  • 18/19 -0.16%
  • 19/20 -0.02%
  • 20/21 -0.11%

Bestinvest MRI

  • 3 years -0.09%
  • 5 years -0.21%
  • Career -0.09%
  • 3 years 33.40%
  • 5 years 12.10%
  • Career 36.70%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Joseph Molloy

Molloy joined LGIM’s index fund team in November 2009 and is responsible for the management of a number of international equity index portfolios. Previously, he was at Northern Trust Global Investors for three years, working as an index fund manager, specialising in Emerging Market portfolios for both pooled and segregated funds. He performed a similar role at State Street Global Advisors. Molloy started his investment management career with Gulf International Bank as a Portfolio Dealer. He is a member of both the FTSE Nationality Committee and the FTSE Americas Committee.

Track record

Joseph Molloy has 9.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.09%. During the worst period of relative performance (from April 2013 - February 2020) there was a decline of 24% relative to the index. The worst absolute loss has been 11%.

Periods of worst performance

Absolute -11.00% (March 2015 - September 2015)
Relative -24.00% (April 2013 - February 2020)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Top 10 holdings

Data accurate as at 30 June 2020

6.6% Johnson & Johnson
4.9% Unitedhealth Group Inc
4.4% Roche Hldg Ag
3.5% Merck & Co Inc(New)
3.3% Novartis Ag
3.2% Pfizer Inc
3.1% Abbvie Inc
2.8% Abbott Laboratories
2.5% Thermo Fisher Scientific Inc
2.5% Amgen Inc
Source: Trustnet

Sector breakdown

Health Care 100.00%

Key Investor Information - Income

Download

Key Investor Information - Accumulation

Download