Legal & General Managed Monthly Income R

  • 65.86p
    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.

  • 125.90p
    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!

  • 1.00%
    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).

  • 1.18%
    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.

  • 1.80%
    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 08 April 2020

Fund summary

Sector £ Corporate Bond
Structure UNIT TRUST
Launched October, 1997
Size £418m
Yield 1.80%
Charging basis Income
Dividends paid 21st day of each month

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 2.43%
Annual management charge 1.00%
Ongoing charges figure 1.18%

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Investment process

The fund's objective is to generate high income from a managed portfolio which includes fixed interest securities and government and other public securities. Investments may be made in stocks traded on overseas markets.

Manager research

Average monthly relative returns

  • 15/16 -0.40%
  • 16/17 -0.03%
  • 17/18 0.28%
  • 18/19 -0.11%
  • 19/20 -0.41%

Bestinvest MRI

  • 3 years -0.08%
  • 5 years -0.13%
  • Career -0.11%
  • 3 years 42.10%
  • 5 years 30.90%
  • Career 32.60%

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

Mark Benstead

Benstead is a senior UK investment grade portfolio manager with responsibility for LGIM’s retail funds. He joined LGIM in 2014 from AXA Investment Managers where he was Head of Credit, UK. 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. Benstead holds a BA (Hons) in Economics from the University College of North Wales and an MBA from the University of Bradford Management Centre.

Track record

Mark Benstead has 5.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.11%. During the worst period of relative performance (from June 2015 - October 2016) there was a decline of 11% relative to the index. The worst absolute loss has been 8%.

Periods of worst performance

Absolute -8.00% (January 2020 - March 2020)
Relative -11.00% (June 2015 - October 2016)

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 January 2020

3.8% United Kingdom
3.7% Lloyds Banking Group Plc
3.5% Hsbc Holdings Plc
3.1% Wells Fargo & Company
2.8% Edf Sa
2.7% Aviva Plc
2.5% At&T Inc
2.2% United Utilities Water Plc
2.1% General Electric Co
2% Thames Water Ltd
Source: Trustnet

Sector breakdown

Utilities 25.00%
Banks 21.00%
Others 9.00%
Insurance 9.00%
Asset/Mortgage-Backed Securities 9.00%
Telecommunications 7.00%
Financial Services 6.00%
Consumer Goods 6.00%
Industrials 4.00%
Consumer Services 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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