Legal & General Growth E

  • 0.00p
    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.

  • 0.00p
    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!

  • 1.50%
    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).

  • 1.67%
    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.

  • 0.00%
    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…

A focused best ideas portfolio consisting of 25 equally weighted stocks selected from the FTSE 350 Index. These stocks are drawn from the UK equities team core model portfolio which consists of 40 stocks. Stocks outside of the model portfolio will not be considered.

Fund summary

Sector UK All Companies
Structure X-UNIT TRUST
Launched November, 2000
Size £2m
Yield 0.00%
Charging basis Income
Dividends paid 15 Jan, 15 Jul

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.67%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.14%
  • 16/17 -0.28%
  • 17/18 0.34%
  • 18/19 -1.51%
  • 19/20 2.23%

Bestinvest MRI

  • 3 years 0.36%
  • 5 years 0.18%
  • Career 0.18%
  • 3 years 83.70%
  • 5 years 81.90%
  • Career 94.20%

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

Gavin Launder

Launder joined Legal & General Investment Management (LGIM) in 2007 and is a Fund Manager within the High Alpha team for Europe ex-UK portfolios. He joined LGIM from BlueBay Asset Management where he was a Global Equities Analyst. He spent the majority of his buy-side career as a Portfolio Manager with UBS O’Connor. Prior to this, he was a top-rated, sell-side analyst covering the Autos, Capital Goods and conglomerates sectors at investment banks including SG Warburg (now part of UBS) and Goldman Sachs. Launder holds a degree in Philosophy and Economics from University College, London.

Track record

Gavin Launder has 9.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.18%. During the worst period of relative performance (from May 2018 - September 2019) there was a decline of 18% relative to the index. The worst absolute loss has been 26%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 94%.

Periods of worst performance

Absolute -26.00% (June 2011 - September 2011)
Relative -18.00% (May 2018 - September 2019)

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

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Top 10 holdings

Data accurate as at 31 July 2017

4.13% Tp Icap Plc
4.13% Asos
4.12% Greene King
4.11% Coca-Cola H.b.comp.srbija
4.09% B & M European Value Retail Sa
4.08% Cineworld Group
4.05% Intercontinental Hotels Group
4.05% Rentokil Initial
4.04% Smith & Nephew Ag
4.03% Auto Trader Group Plc
Source: Trustnet

Sector breakdown

Consumer Services 40.00%
Industrials 27.00%
Consumer Goods 16.00%
Financials 4.00%
Health Care 4.00%
Basic Materials 4.00%
Technology 4.00%
Cash & Cash Equivalents 1.00%

Portfolio

The portfolio comprises 25 equally weighted stocks equally weighted.

Key Investor Information - Income

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Key Investor Information - Accumulation

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