L&G PMC Managed Property Fund 3

L&G PMC Managed Property Fund G25

Fund code
Price1338.12p
As at18 Nov 2025
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Fund facts

Fund size
£3.9m
Base currency
GBP
Launch date
May 2016
Domicile
United Kingdom
Indicative spread
6.34%

As at 30 Sep 2025

Fund aim

Benchmark

ABI Sector

UK Direct Property

Charges

Investment management charge0.70%
Additional expenses1.08%
Fund management charge1.78%

Performance

Source: Lipper

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Sep 2025

    CumulativeFund
    3 years-0.88
    5 years26.53
    AnnualisedFund
    1 year6.37
    3 years-0.29
    5 years4.82
    Since launch3.76

    Share class launch date: 10 May 2016

    Share class launch date: 14 Oct 2015

    Share class launch date: 07 Jun 1971

    Share class launch date: 31 Jan 2007

    Share class launch date: 17 Mar 2011

    As at 30 Sep 2025

    CumulativeFund
    3 years-0.88
    5 years26.53
    AnnualisedFund
    1 year6.37
    3 years-0.29
    5 years4.82
    Since launch3.76

    Share class launch date: 10 May 2016

    Share class launch date: 14 Oct 2015

    Share class launch date: 07 Jun 1971

    Share class launch date: 31 Jan 2007

    Share class launch date: 17 Mar 2011

    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    Fund
    2016-
    20177.45
    20186.67
    20191.75
    2020-8.50
    202112.15
    202213.83
    2023-14.61
    20249.12
    2025-

    Calendar year performance (%)

    Fund
    2015-
    2016-
    20178.42
    2018-3.04
    20198.88
    2020-7.07
    202126.85
    2022-8.52
    2023-1.71
    20244.73

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund6.37-0.294.823.76

    Data as at 30.09.2025

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund6.37-0.294.823.76

    Data as at 30.09.2025

    Performance for the unit class in GBP, launched on 10 May 2016. Source: Lipper.

    Past performance is not a guide to the future.

    Performance for the unit class in GBP, launched on 14 October 2015. Source: Lipper.

    Past performance is not a guide to the future.

    Performance for the Primary unit class in GBP, launched on 07 June 1971. Source: Lipper.

    Past performance is not a guide to the future.

    Performance for the Charges included unit class in GBP, launched on 31 January 2007. Source: Lipper.

    Past performance is not a guide to the future.

    Performance for the Charges included 2011 unit class in GBP, launched on 17 March 2011. Source: Lipper.

    Past performance is not a guide to the future.

    Portfolio

    As at 30 Sep 2025. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Asset (%)

    Direct Property82.1
    Indirect Property9.2
    Cash and Other8.7

    Sector (%)

    Standard Industrial - South East33.8
    Retail Warehouse11.4
    Cash7.5
    Office - West End & Mid Town6.4
    Office - Rest of South East5.9
    Residential excl. Student Accommodation5.8
    Leisure5.2
    Hotel5.0
    Office - Rest of UK3.5
    Other15.5

    Region (%)

    South East38.9
    London25.4
    Eastern7.9
    Yorkshire and Humber6.5
    North West6.4
    West Midlands5.6
    South West4.1
    Scotland2.4
    North East2.3
    East Midlands0.4

    Property characteristics

    No. of assets104
    No. of physical properties100
    Void rate ex. development12.4%
    Average lease length6.6 years
    Average lot size£38.8m
    Net initial yield4.4%
    Cash level£409.5m
    Uncommitted cash£294.3m
    Void rate, lease length, lot size and net initial yield relate to direct properties only.

    Top 10 holdings (£M)

    Dunstable - Woodside Industrial Estate|Industrial - South East300-350
    Brentford – West Cross Industrial Park|Industrial  - Outer London200-250
    Basingstoke - Kingsland Business Park|Industrial - South East150-175
    London - Strand Island Site|Office - Mid Town100-125
    Manchester - North Tower|Other - North West100-125
    London - Yotel London Clerkenwell|Other - City90-100
    Newcastle - Into Newcastle University|Other - North East80-90
    London - 76-88 Wardour Street|Office - West End80-90
    Bedford - Interchange Shopping Park|Retail - Eastern80-90
    Leeds - The Light|Leisure - Yorkshire and Humber70-80

    Fund Manager

    L&G Property Fund Management Team

    The Fund is managed by Rob Codling. The Fund team includes 14 Asset Managers dedicated to the Fund and a Fund Analyst. This team is supported by the wider Private Markets Real Estate Equity platform capabilities including Transactions, Research, Sector Specialists, Responsible Investing and Development.

    Prices

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    Price
    1338.12p
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    Price time
    12:00 UK time
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    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. 

    Index disclaimer

    The MSCI index is the exclusive property of MSCI INC. (“MSCI”). MSCI and the MSCI index name is a service mark of MSCI, or its affiliates, and has been licensed for use for certain purposes by Legal & General Investment Management ("LGIM") and its affiliates. The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Description of Funds contains a more detailed description of the limited relationship MSCI has with LGIM and any related funds.

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