Legal & General UK Smaller Companies I

  • 1210.00p
    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.

  • 1493.00p
    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!

  • 0.75%
    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).

  • 0.78%
    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 30 July 2021

Fund summary

Sector UK Smaller Companies
Structure UNIT TRUST
Launched August, 2012
Size £301m
Yield 1.20%
Charging basis Income
Dividends paid 18 Feb, 18 Aug

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.78%

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Investment process

The investment objective of this fund is to maximise capital growth from a portfolio of UK securities, which will largely consist of smaller companies, which may be selected from all economic sectors. The Manager's policy for putting this into effect will be to invest primarily in companies that comprise the lowest 10% by capitalisation of the UK equity market.

Manager research

Average monthly relative returns

  • 16/17 -0.38%
  • 17/18 0.42%
  • 18/19 -0.60%
  • 19/20 0.96%
  • 20/21 -0.17%

Bestinvest MRI

  • 3 years 0.06%
  • 5 years 0.04%
  • Career -0.03%
  • 3 years 62.90%
  • 5 years 66.60%
  • Career 72.20%

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

Rod Oscroft

Oscroft is a senior fund manager and Head of UK Small Companies. He joined Legal & General in October 2000 after five years at Hermes Investment Management where he specialised in small company research. Previously, following graduation from Cambridge University with an Honours degree in Economics, he worked in the transport asset rental industry. He is a qualified member of the IIMR.

Track record

Rod Oscroft has 20 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.03%. During the worst period of relative performance (from October 2001 - March 2010) there was a decline of 22% relative to the index. The worst absolute loss has been 48%.

Periods of worst performance

Absolute -48.00% (May 2007 - February 2009)
Relative -22.00% (October 2001 - March 2010)

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 30 June 2020

3.9% Safestore Holdings Plc
3.7% Genus Plc
3.5% Dechra Pharmaceuticals
3.5% Discoverie Group Plc
3.3% Cranswick
2.8% Hill & Smith Hldgs
2.8% Ultra Electronics Hldgs
2.5% Knights Group Hldgs Plc
2.4% Cvs Group Plc
2.3% Keller Group Plc
Source: Trustnet

Sector breakdown

Industrials 29.00%
Financials 18.00%
Consumer Services 17.00%
Others 13.00%
Health Care 12.00%
Others 3.00%
Basic Materials 3.00%
Cash & Cash Equivalents 3.00%
Oil & Gas 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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