|Bid Price||GBX 54.03||Offer Price||GBX 56.83|
|Mid Price||-||Day Change||GBX -0.02 (-0.04%)|
|Price Date||21 Nov 2017||Crown Rating|
|Shares Class||Inc.||Yield||3.00 %|
|Total Expense Ratio||0.00||Fund Size||2,912,000,529.83|
|Launch Date||28/02/2006||Standard Initial Charge (%)||0.00|
|Annual Management Charge (%)||0.00||Sector||IMA UK Equity Income|
|Min Investment (£)||1,000,000.00||Total Expense Ratio (%)||0.00|
|ISIN||GB00BK35DT11||Min TopUp (£)||20,000.00|
The fund will be a Property Authorised Investment Fund for taxpurposes at all times. Its objective is to provide a combination ofincome and growth through investing generally in commercialproperty.The fund will typically invest at least 80% in a range of UKcommercial properties (but this can be as low as 60% where thefund manager deems it to be in the interests of the fund and itsshareholders).The fund may invest in all types of commercial property. It mayoccasionally invest in residential property and may also developproperties. The fund may also invest from time to time incommercial properties in the Isle of Man and the Channel Islands.The fund may use derivatives (contracts which have a value linkedto the price of another asset) for the following purposes:• To help with efficient day to day management.• To reduce some of the risks of the market.The fund may also invest in other property-related assets(including property-related UK shares and UK property-relatedauthorised investment funds), money market instruments,deposits, money market-related authorised investment funds andgovernment bonds. Money market instruments are a type ofsecurity where cash can be deposited for short periods of time.If you hold accumulation shares, income from investments heldby the fund (a mixture of rental income, interest and dividends)will be reinvested into the value of your shares.If you hold distribution shares, income from investments held bythe fund will be paid out to you (as a mixture of rental income,interest and dividends).In addition to the charges set out in the charges section overleaf,the fund will incur transaction costs relating to the buying andselling of property. These costs are paid from the assets of thefund.This fund may not be appropriate for investors who plan towithdraw their money within five years. The fund may beappropriate if you would like to add a more specialist investmentto an existing portfolio.
Michael Barrie is a Director of LGP with specific responsibility for the Balanced Property Funds Portfolio (c.£3.4bn as at March 2010), including the L&G LPI Income Property Fund and the L&G Managed Property Fund. Michael joined LGP in 2005 having previously been a director of F&C Property Asset Management and lead fund manager for the RSA Life Unitised Fund & RSA Pension Unitised Fund. Over the last three calendar years of Michael’s management of these funds they outperformed the IPD benchmark by 2.0% and 1.1% per annum respectively. The Life Unitised Fund received the IPF/IPD/EG award for best 3-year rolling performance (Funds between £50m and £200m) in 2002. He also established and managed the ISIS Property Trust and the ISIS Property Trust 2 which were listed on the London Stock Exchange. Michael holds a degree in Land Economics, a post graduate diploma in Property Investment and is a Member of the Royal Institution of Chartered Surveyors (MRICS) and the Association of British Insurers Property Group.
Matt Jarvis joined Legal & General Property as an asset manager in November 2004 and is Co-Fund Manager of the UK Property Trust, 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).