Prudential L&G UK Property S4

Essentials Portfolio Analysis Background Data Investment Risk Performance View PDF Factsheet
Portfolio data accurate as at:

Performance

Discrete performance - to last month end

28/02/19
to
29/02/20
29/02/20
to
28/02/21
28/02/21
to
28/02/22
28/02/22
to
28/02/23
28/02/23
to
29/02/24
Fund 2.2% 0.1% 15.3% -17.6% -2.0%
Sector -1.7% -4.8% 10.3% -10.6% -1.9%
Rank 14/82 6/82 21/82 79/82 50/83
Quartile 1 1 1 4 3

Annualised performance

Annualised
3 Years to
29/02/24
5 Years to
29/02/24
10 Years to
29/02/24
Fund -2.3% -1.0% n/a
Sector -1.1% -2.0% 1.8%
Rank 61/82 34/82 n/a
Quartile 3 2 n/a

Top 10 Holdings

Stock % Weight
L&G FREEHOLD PROPERTY 82.84
Segro Segro Ord GBP0.1 1.00
UNITE GROUP 0.48
LAND SECURITIES GROUP 0.43
LondonMetric Property PLC LondonMetric Property Ord GBP0.10 0.38
GRAINGER 0.28
Tritax Big Box REIT Plc Tritax Big Box REIT Ord GBP0.01 0.25
BRITISH LAND CO 0.25
Derwent London Plc Derwent London Ord GBP0.05 0.22
Hammerson PLC Hammerson Plc Ord GBP0.05 0.21
Total 86.34

Fund Aims

Objective: The investment strategy of the fund is to buy units in the L&G UK Property Fund - the underlying fund.

Underlying Fund Objective: The fund aims to carry on Property Investment Business and to manage cash raised from investors for investment in the Property Investment Business. In doing so, the objective of the fund is to achieve income and capital growth through investing generally in commercial property.

Fund Manager

Michael Barrie manager of the underlying fund for 18 years and 1 months

Photo of Michael Barrie Michael Barrie is co-fund manager for the UK Property Fund and is also a Director of Legal & General Property Division. He joined Legal & General Property in 2005 from F&C Property Asset Management. Michael is a member of the Royal Institution of Chartered Surveyors and has a postgraduate diploma in property investment from Reading University.

Matt Jarvis manager of the underlying fund for 14 years and 2 months

Photo of Matt Jarvis Matt Jarvis joined Legal & General Property as an Asset Manager in November 2004 and is Co-Fund Manager of the UK Property Fund, having previously been a Commercial Valuer with Jones Lang LaSalle. Matt holds a degree in Land Management from Reading University and is a Member of the Royal Institution of Chartered Surveyors (MRICS).

Fund Overview

Bid (27/03/2024) 99.90
Offer (27/03/2024) 105.10
Fund size (29/02/2024) £2.33m
Underlying Fund size £1190.43m
Number of holdings 15
Launch date 13/09/2017

Fund Charges

Annual Management Charge (AMC) 1.75%
Further Costs 0.58%
Yearly Total 2.33%

Asset Allocation

pie chart
  Property 85.85%
  Cash and Equivalents 13.14%
  UK Equities 1.01%
Portfolio data accurate as at: 31/01/24

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Portfolio data accurate as at:

Asset Allocation

pie chart
  Property 85.85%
  Cash and Equivalents 13.14%
  UK Equities 1.01%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Property 82.84% - - -
 
Property - 82.84% - -
 
Property - - 82.84% -
 
Property - - - 82.84%
 
Cash and Equivalents 13.14% - - -
 
Real Estate 4.01% - - -
 
Real Estate - 4.01% - -
 
Real Estate Investment Trusts - - 3.74% -
 
Diversified REITs - - - 1.21%
 
Industrial REITs - - - 1.00%
 
Residential REITs - - - 0.48%
 
Office REITs - - - 0.33%
 
Retail REITs - - - 0.28%
 
Other Specialty REITs - - - 0.25%
 
Storage REITs - - - 0.15%
 
Health Care REITs - - - 0.04%
 
Real Estate Investment & Services - - 0.28% -
 
Real Estate Holding and Development - - - 0.28%

Regional Allocation

pie chart
  Property 85.85%
  Cash and Equivalents 13.14%
  UK 1.01%

Regional Breakdown

Expand allCollapse all
Region Country
 
Property 85.85% -
 
Cash and Equivalents 13.14% -
 
UK 1.01% -
 
United Kingdom - 1.01%

Property Regions

pie chart
  Cash and equivalents 23.20%
  West Midlands 13.50%
  South East 12.40%
  Central London 8.33%
  Indirect property 6.33%
  Scotland 5.57%
  Other 30.67%

Asset Allocation

pie chart
  Cash and equivalents 23.20%
  Industrial 21.08%
  Office - regional 13.84%
  Retail warehouse and supermarket 12.00%
  Office - London 7.62%
  Indirect property 6.33%
  Other Assets 15.94%

Breakdown By Market Cap (%)

Large
 
 
1.44%
Medium
 
 
2.51%
Small
 
 
0.07%
Non-Classified
 
 
82.84%
Cash
 
 
13.14%

Top 10 Holdings

Stock % Weight Sector Country
1 L&G FREEHOLD PROPERTY 82.84% Property Direct Property and REITs
2 Segro Segro Ord GBP0.1 1.00% Real Estate Investment Trusts Direct Property and REITs
3 UNITE GROUP 0.48% Real Estate Investment Trusts Direct Property and REITs
4 LAND SECURITIES GROUP 0.43% Real Estate Investment Trusts Direct Property and REITs
5 LondonMetric Property PLC LondonMetric Property Ord GBP0.10 0.38% Real Estate Investment Trusts Direct Property and REITs
6 GRAINGER 0.28% Real Estate Investment & Services United Kingdom
7 Tritax Big Box REIT Plc Tritax Big Box REIT Ord GBP0.01 0.25% Real Estate Investment Trusts United Kingdom
8 BRITISH LAND CO 0.25% Real Estate Investment Trusts Direct Property and REITs
9 Derwent London Plc Derwent London Ord GBP0.05 0.22% Real Estate Investment Trusts United Kingdom
10 Hammerson PLC Hammerson Plc Ord GBP0.05 0.21% Real Estate Investment Trusts Direct Property and REITs

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Real Estate 1.01% - - - - 3.01% - - 4.01%
Property - - - - - 82.84% - - 82.84%
Cash and Equivalents - - - - - - - 13.14% 13.14%

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Identification Codes

Sedol Code BZCMXP4
Mex Code PUATB
Isin Code GB00BZCMXP49
Citi Code O5CJ

Fund Charges

Annual Management Charge (AMC) 1.75%
Further Costs 0.58%
Yearly Total 2.33%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to buy units in the L&G UK Property Fund - the underlying fund. Underlying Fund Objective: The fund aims to carry on Property Investment Business and to manage cash raised from investors for investment in the Property Investment Business. In doing so, the objective of the fund is to achieve income and capital growth through investing generally in commercial property.
Benchmark IA Property Sector
Sector ABI UK Direct Property

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Charges and further costs may vary in the future and may be higher than they are now.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Risk Analysis

Ratio Value
Alpha -1.41
Beta 1.07
Sharpe 0.00
Standard Deviation 6.62
Info Ratio -0.36

Risk Factors

Risk Factor Yes / No
Charges to Capital No
Emerging Markets No
Concentrated Portfolio Yes
Smaller Companies No
High Yield Bonds No
Sector Specific No
Geared Investments No
Value of Investments Yes
Investments Long Term Yes
Property Yes
Exchange Rate No
Higher Risk Yes
Performance Charges No
Derivative Exposure No
Offshore No
Income Eroding Capital Growth Yes
Umbrella Liabilities No
New Fund No
Solvency of Depository Yes
Solvency of Bond Issuers No
Ethical Restrictions No
Liquidity Yes
Returns Are Not Guaranteed Yes
Inflation Yes
Taxation and Tax Relief Yes

Fund Specific Risks

Concentrated Portfolio

The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.

Value of Investments

The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.

Investments Long Term

Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.

Property

The fund invests in Property funds, property shares or direct property. In particular the following risks will apply:- The property market is illiquid and this can, in exceptional circumstances, lead to times in which clients are unable to dispose of part or all of their holding. Property valuations are made by independent agents but are ultimately subjective and a matter of judgement. Property transaction costs are high (typically around 7% due to legal costs, valuations and stamp duty)

Higher Risk

This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.

Income Eroding Capital Growth

The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.

Solvency of Depository

The value of a cash or currency fund may be affected if any of the institutions with which cash is deposited becomes insolvent or experiences other financial difficulties.

Liquidity

This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.

Returns Are Not Guaranteed

What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.

Inflation

Inflation will reduce the real value of your investments in future.

Taxation and Tax Relief

Levels of taxation and tax relief are subject to change.

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.