Fund code

Fund facts

Fund size
£11.0m
Base currency
GBP
Launch date
Oct 1999
Domicile
UK

As at 30 Nov 2025

Fund aim

Benchmark

ABI Sector

UK Smaller Companies

Charges

Investment management charge
Additional expenses	0.00%
Fund management charge	0.78%

Performance

Source: Lipper

Performance (%)

Change

Performance summary (%)

To month-end
To quarter-end

As at 30 Nov 2025

Cumulative	Fund	Benchmark
3 years	16.90	33.25
5 years	17.92	43.86

Annualised	Fund	Benchmark
1 year	4.75	11.86
3 years	5.34	10.03
5 years	3.35	7.54
Since launch	6.75	-

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 28 Feb 2018

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 20 Dec 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 20 Dec 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 17 Aug 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 17 Aug 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 25 Apr 2019

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 25 Oct 1999

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 26 Oct 2018

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 26 Oct 2018

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 25 Oct 1999

As at 30 Sep 2025

Cumulative	Fund	Benchmark
3 years	30.99	46.14
5 years	27.21	59.71

Annualised	Fund	Benchmark
1 year	2.72	8.89
3 years	9.41	13.47
5 years	4.93	9.81
Since launch	6.81	-

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 28 Feb 2018

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 20 Dec 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 20 Dec 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 17 Aug 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 17 Aug 2012

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 25 Apr 2019

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 24 Dec 2004

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 25 Oct 1999

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 26 Oct 2018

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 26 Oct 2018

Benchmark: Numis Smaller Companies Exc Inv Com TR

Share class launch date: 25 Oct 1999

Rolling 12-month performance

Calendar year performance

Monthly performance

Annualised performance

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

	Fund	Benchmark
2016	0.71	8.63
2017	16.87	20.20
2018	1.95	1.38
2019	-5.17	-4.05
2020	-3.54	-9.62
2021	44.66	45.93
2022	-32.87	-25.12
2023	7.56	11.83
2024	18.57	20.01
2025	2.72	8.89

12 months to 30 September	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Fund	0.71	16.87	1.95	-5.17	-3.54	44.66	-32.87	7.56	18.57	2.72
Benchmark	8.63	20.20	1.38	-4.05	-9.62	45.93	-25.12	11.83	20.01	8.89

Calendar year performance (%)

	Fund	Benchmark
2015	18.45	10.61
2016	-2.56	11.08
2017	20.57	19.50
2018	-17.35	-15.35
2019	29.26	25.17
2020	-4.48	-4.29
2021	25.50	21.92
2022	-23.88	-17.87
2023	3.86	10.14
2024	5.55	9.48

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Fund	18.45	-2.56	20.57	-17.35	29.26	-4.48	25.50	-23.88	3.86	5.55
Benchmark	10.61	11.08	19.50	-15.35	25.17	-4.29	21.92	-17.87	10.14	9.48

To month-end
To quarter-end

Annualised performance (%)

	1 year	3 years	5 years	Since launch
Fund	4.75	5.34	3.35	6.75
Benchmark	11.86	10.03	7.54	-

Annualised performance (%)

	1 year	3 years	5 years	Since launch
Fund	2.72	9.41	4.93	6.81
Benchmark	8.89	13.47	9.81	-

Performance for the C Acc unit class in GBP, launched on 28 February 2018. Source: Lipper.

Past performance is not a guide to the future.

Performance for the E Acc unit class in GBP, launched on 24 December 2004. Source: Lipper.

Past performance is not a guide to the future.

Performance for the E Inc unit class in GBP, launched on 24 December 2004. Source: Lipper.

Past performance is not a guide to the future.

Performance for the F Acc unit class in GBP, launched on 20 December 2012. Source: Lipper.

Past performance is not a guide to the future.

Performance for the F Inc unit class in GBP, launched on 20 December 2012. Source: Lipper.

Past performance is not a guide to the future.

Performance for the I Acc unit class in GBP, launched on 17 August 2012. Source: Lipper.

Past performance is not a guide to the future.

Performance for the I Inc unit class in GBP, launched on 17 August 2012. Source: Lipper.

Past performance is not a guide to the future.

Performance for the L Acc unit class in GBP, launched on 25 April 2019. Source: Lipper.

Past performance is not a guide to the future.

Performance for the R Acc unit class in GBP, launched on 24 December 2004. Source: Lipper.

Past performance is not a guide to the future.

Performance for the R Inc unit class in GBP, launched on 24 December 2004. Source: Lipper.

Past performance is not a guide to the future.

Performance for the unit class in GBP, launched on 25 October 1999. Source: Lipper.

Past performance is not a guide to the future.

Performance for the unit class in GBP, launched on 26 October 2018. Source: Lipper. The fund performance does not take into account of any product charges or External Funds Annual Management Charge (EFAMC).

Past performance is not a guide to the future.

Performance for the unit class in GBP, launched on 26 October 2018. Source: Lipper.

Past performance is not a guide to the future.

Performance for the unit class in GBP, launched on 25 October 1999. Source: Lipper. The fund performance does not take into account of any product charges or External Funds Annual Management Charge (EFAMC).

Past performance is not a guide to the future.

Portfolio

As at 30 Nov 2025. All data source LGIM unless otherwise stated. Totals may not sum due to rounding. The figures shown for market capitalisation (the total share value of a company) may not be comparable between funds as they can be measured and classed in different ways.

Market capitalisation (%)

	Large	0.7
	Mid	90.9
	Small	7.4
	Micro	0.2
	Cash and Equivalents	0.8

Cash positions are held as collateral on futures

	Top 10 holdings	27.8
	Rest of portfolio	72.2

No. of holdings

80

Top 10 holdings (%)

JTC	3.5
Morgan Sindall Grp	3.4
Serco Group	3.4
Volution Grp	2.9
Coats Group	2.7
Xps Pensions Group	2.6
Paragon Banking Gr	2.6
Greencore Group	2.3
Tp Icap Group	2.2
Mitie Group	2.2

Country (%)

United Kingdom

100.0

	Fund	Relative
Industrials	29.0	6.3
Financials	23.2	3.0
Real Estate	11.3	1.0
Consumer Staples	6.0	0.9
Telecommunications	1.3	0.2
Health Care	2.2	-1.1
Basic Materials	5.2	-1.6
Unclassified	0.0	-1.6
Technology	3.5	-2.6
Consumer Discretionary	13.7	-3.0

	Fund	Relative
Tp Icap Group	2.2	2.2
Jtc	3.5	2.2
Volution Grp	2.9	2.1
Xps Pensions Group	2.6	2.1
Morgan Sindall Grp	3.4	2.0
Goodwin	0.0	-0.9
Alphawave Ip Group	0.0	-1.0
Intern Workplace G	0.4	-1.1
Helios Towers	0.0	-1.1
Just Group	0.0	-1.4

Fund managers

Camilla is an equity portfolio manager in Active Strategies in London at L&G’s Asset Management division. Camilla joined the business in 2019 from Rathbones, and prior to that she worked at Barclays. Camilla graduated from the University of Bath with a BSc (hons) degree in economics. Camilla is a CFA charterholder and holds the Investment Management Certificate, the PRI’s Foundations in Responsible Investments qualification and the CFA Certificate in ESG Investing.

Matt is a portfolio manager in the Active Strategies Equity team. He joined L&G’s Asset Management division in 2024 from Insight Investment where he was a Senior Portfolio Manager with responsibility for UK Income and Long/Short market neutral strategies. Matt graduated from Loughborough University with a BSc in economics with accounting. He has been a CFA charterholder since 2008.

CamillaAyling

MatthewCooke

Prices

Name

I GBP Acc

Price

1320.00p

Change (%)

0.84

Currency

GBP

Price time

12:00 UK time

Name

I GBP Inc

Price

962.00p

Change (%)

0.85

Currency

GBP

Price time

12:00 UK time

Name

R GBP Acc

Price

1167.00p

Change (%)

0.86

Currency

GBP

Price time

12:00 UK time

Name

R GBP Inc

Price

938.40p

Change (%)

0.85

Currency

GBP

Price time

12:00 UK time

Name

F GBP Acc

Price

1270.00p

Change (%)

0.79

Currency

GBP

Price time

12:00 UK time

Name

C GBP Acc

Price

58.53p

Change (%)

0.86

Currency

GBP

Price time

12:00 UK time

Name

L GBP Acc

Price

63.89p

Change (%)

0.85

Currency

GBP

Price time

12:00 UK time

Name

GBP

Price

760.90p

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Name

GBP

Price

712.17p

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Name

GBP

Price

763.13p

Change (%)

-

Currency

GBP

Price time

12:00 UK time

Name

GBP

Price

706.00p

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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