Fund code

Fund facts

Fund size
£2.9m
Base currency
GBP
Launch date
Apr 2022
Domicile
United Kingdom

As at 31 Mar 2025

Fund aim

Benchmark

ABI Sector

Global High Yield

Charges

Investment management charge	0.30%
Additional expenses	0.08%
Fund management charge	0.38%

Performance

Source: Lipper

Performance (%)

Change

Performance summary (%)

To month-end
To quarter-end

As at 31 Mar 2025

Cumulative	Fund
3 years	-
5 years	-

Annualised	Fund
1 year	-
3 years	-
5 years	-
Since launch	-

As at 31 Dec 2024

Cumulative	Fund
3 years	-
5 years	-

Annualised	Fund
1 year	-
3 years	-
5 years	-
Since launch	-

Rolling 12-month performance

Calendar year performance

Monthly performance

Annualised performance

Rolling 12-month performance to last quarter end (%)

	Fund
2016	-
2017	-
2018	-
2019	-
2020	-
2021	-
2022	-
2023	-
2024	-
2025	-

12 months to 31 March	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Fund	-	-	-	-	-	-	-	-	-	-

Calendar year performance (%)

	Fund
2015	-
2016	-
2017	-
2018	-
2019	-
2020	-
2021	-
2022	-
2023	-
2024	-

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Fund	-	-	-	-	-	-	-	-	-	-

To month-end
To quarter-end

Annualised performance (%)

	1 year	3 years	5 years	Since launch
Fund	-	-	-	-

Annualised performance (%)

	1 year	3 years	5 years	Since launch
Fund	-	-	-	-

Performance for the GBP currency hedged unit class in GBP, launched on 10 December 2021. Source: Lipper.

Past performance is not a guide to future returns. The value of your investment and any income taken from it is not guaranteed and may go up and down.

Performance for the GBP currency hedged (Daily Close) unit class in GBP, launched on . Source: Lipper.

Past performance is not a guide to future returns. The value of your investment and any income taken from it is not guaranteed and may go up and down.

Performance for the GBP currency hedged (Daily Midday) unit class in GBP, launched on 31 March 2022. Source: Lipper.

Past performance is not a guide to future returns. The value of your investment and any income taken from it is not guaranteed and may go up and down.

Performance for the GBP currency hedged (Distribution) unit class in GBP, launched on 01 March 2022. Source: Lipper.

Past performance is not a guide to future returns. The value of your investment and any income taken from it is not guaranteed and may go up and down.

Performance for the unit class in GBP, launched on 01 April 2022. Source: Lipper.

Past performance is not a guide to future returns. The value of your investment and any income taken from it is not guaranteed and may go up and down.

Portfolio

As at 31 Mar 2025. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

Currency (%)

	USD	79.0
	EUR	15.2
	GBP	6.2
	Other	0.0

This is the currency breakdown before allowing for any hedging the fund may use. We aim to hedge the portfolio 100% back to the base currency.

Years to maturity (%)

	0 - 5 Years	81.3
	5 - 10 Years	13.6
	10 - 15 Years	1.1
	15 - 20 Years	1.3
	20 - 25 Years	0.6
	25 - 30 Years	1.2
	30+ Years	0.8
	Other	0.1

	Top 10 issuers	17.6
	Rest of portfolio	82.4

No. of issuers

664

Top 10 issuers (%)

United States of America	9.4
Cambourne Investment Pte	1.1
Qatar Investment Authority	1.1
Melco International Development	1.0
Republic of Zambia	0.9
Stork Holdco	0.9
Republic of Angola	0.8
Federal Republic of Germany	0.8
ReNew Energy Global	0.8
Ukraine	0.7

	Fund	Benchmark	Relative
AAA	0.9	0.2	0.7
AA	10.7	4.0	6.7
A	10.3	16.8	-6.6
BBB	17.2	19.7	-2.5
BB	25.8	35.1	-9.3
B	21.2	21.2	0.0
CCC	6.6	2.3	4.3
CC	0.3	0.0	0.2
C	0.3	0.3	0.1
D	0.1	0.1	0.0
NR	0.2	0.7	-0.5
Cash	6.5	-0.4	6.9

Country (%)

	United States	38.7
	United Kingdom	6.1
	France	3.3
	Germany	2.6
	Mexico	2.4
	India	2.2
	Turkey	2.2
	Brazil	2.1
	Luxembourg	1.8
	Other	38.6

	Fund	Benchmark	Relative
Cash and Equivalents	6.5	-0.4	6.9
Sovereign	22.4	18.4	4.1
Consumer Services	14.7	13.0	1.7
Technology	4.3	3.6	0.7
Real Estate	4.0	3.4	0.6
Basic Materials	6.8	6.4	0.4
Banks	10.8	10.5	0.3
ABS	0.3	0.0	0.3
Unknown	0.1	0.0	0.1
Insurance	0.7	1.0	-0.2
Telecommunications	4.2	4.4	-0.2
Consumer Goods	5.8	6.6	-0.8
Utilities	5.9	6.7	-0.8
Health Care	4.1	5.0	-0.9
Industrials	7.9	9.3	-1.4
Financial Services	0.7	2.1	-1.4
Oil & Gas	0.6	9.9	-9.3

Fund managers

Ian joined the Global Bond Strategies team in 2024. Prior to this, he was the Head of UK Credit and managed LGIM’s Active Sterling Credit mandates for over 15 years. Ian is IMC qualified, a CFA charterholder and started his career in 1998 at Standard & Poor's MMS as a Eurobond analyst. He holds a degree in international relations from the University of Sussex.

Jonathan works within LGIM’s Global Bond Strategies team where he managers both benchmark and unconstrained portfolios. Jonathan joined LGIM in October 2014 from BNY Mellon where he was part of the Quantitative Trading Group.

IanHutchinson

JonathanCurteis

Prices

Name

GBP

Price

-

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Name

GBP Hedged

Price

-

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Name

GBP Hedged

Price

-

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Name

GBP Hedged

Price

-

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Name

GBP Hedged

Price

-

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Important Information

The fund performance provided is:

after all fund charges have been taken, but doesn't include any other product charges. Please see your product literature for more information on charges.
assuming all income generated by the investments remains within the fund

Please bear in mind that past performance is not a guide to future returns. The value of an investment and any income taken from it is not guaranteed and may go down as well as up. You could get back less than you invest.

Performance data source: Lipper.

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