Morningstar Fund Report  | 10/04/2025Print

Legal & General Property Fund Class Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Legal & General Property Fund Class Accumulation
Fund20.2-9.81.86.50.5
+/-Cat9.8-0.65.07.0-0.3
+/-B’mrk-----
 
Category: Property - Direct UK
Category Benchmark: -
Key Stats
NAV
10/04/2025		 GBX 109.00
Day Change 1.40%
Morningstar Category™ Property - Direct UK
IA (formerly IMA) Sector UK Direct Property
ISIN GB00BK35F069
Fund Size (Mil)
31/03/2025		 GBP 1116.75
Share Class Size (Mil)
11/07/2018		 GBP 1400.68
Max Initial Charge -
Ongoing Charge
14/02/2018		  -
Investment Objective: Legal & General Property Fund Class Accumulation
The objective of the Fund is to achieve a combination of income and capital growth by carrying on Property Investment Business and managing cash raised from investors for investment in the Property Investment Business. The Fund will be a PAIF at all times. The Fund will invest at least 60% of its assets in property and property-related assets. Although the Fund’s investment in property and property-related assets is typically expected to be in the region of 80% - 90% of the Fund’s assets, this may vary as a result of factors such as market conditions.
Returns
Trailing Returns (GBP)10/04/2025
YTD-0.46
3 Years Annualised-2.36
5 Years Annualised3.50
10 Years Annualised4.52
12 Month Yield 2.74
Management
Manager Name
Start Date
Michael Barrie
23/05/2014
Matt Jarvis
23/05/2014
Inception Date
27/05/2014

Category Benchmark
Fund BenchmarkMorningstar Benchmark
10% Bank of England Base Rate ,  45% MSCI UK Monthly Property NR GBP ,  45% FTSE EPRA Nareit Developed TR GBP-
Portfolio Profile for  Legal & General Property Fund Class Accumulation28/02/2025
Morningstar Style Box®
Equity Style
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock28.360.0028.36
Bond0.000.000.00
Property58.670.0058.67
Cash94.3681.5112.86
Other0.120.000.12
Fixed Income
Effective Maturity-
Effective Duration-
Top 5 Regions%
United States65.19
Japan8.64
Australasia6.59
Eurozone6.30
Asia - Developed5.96
Top 5 Sectors%
Real Estate99.87
Industrials0.13
Top 5 HoldingsSector%
L&G FREEHOLD PROPERTY58.67
LGIM Sterling Liquidity 16.90
Prologis IncReal EstateReal Estate2.66
Equinix IncReal EstateReal Estate1.97
Welltower IncReal EstateReal Estate1.49
Increase Decrease New since last portfolio
Legal & General Property Fund Class Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  Legal & General Property Fund Class Accumulation
Category:  Property - Direct UK
Category Index: 
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return5.894.390.1520.24-9.821.786.520.55
+/- Category1.484.193.129.75-0.585.046.99-0.31
+/- Category Index--------
% Rank in Category2282114515561
Trailing Returns (GBP)10/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day1.40   1.69-
1 Week-1.18   0.15-
1 Month-1.27   -0.31-
3 Months-0.91   -0.32-
6 Months0.83   2.98-
YTD-0.46   0.33-
1 Year6.65   5.77-
3 Years Annualised-2.36   1.60-
5 Years Annualised3.50   3.97-
10 Years Annualised4.52   3.56-
 
Category: Property - Direct UK
Category Index: 
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20250.55---
2024-0.681.963.651.48
20230.101.98-0.19-0.10
20224.733.32-3.47-13.68
20213.513.454.767.18
2020-1.12-1.100.042.36
 
 
 
Morningstar Rating™(Relative to Category)-
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-Year--Not Rated
5-Year--Not Rated
10-Year--Not Rated
Overall--Not Rated
 
Category :  Property - Direct UKClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev6.16 %
3-Yr Mean Return-1.90 %
 
3-Yr Sharpe Ratio-0.98
 
Modern Portfolio Statistics-31/03/2025
 Standard IndexBest Fit Index
   Morningstar Turkey TME NR EUR
3-Yr Beta--0.08
3-Yr Alpha--4.12
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 16067-
Market Capitalisation% of Equity
Giant0.84
Large34.43
Medium50.69
Small12.80
Micro1.24
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings25.841.07
Price/Book1.481.09
Price/Sales6.110.92
Price/Cash Flow15.640.98
Dividend-Yield Factor3.960.94
 
Long-Term Projected Earnings Growth5.290.98
Historical Earnings Growth-2.230.28
Sales Growth3.470.93
Cash-Flow Growth0.8013.98
Book-Value Growth-0.110.09
 
Category: Property - Direct UK
Fixed Income Style-
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 1125
Maturity Distribution %
1 to 30.00
3 to 50.00
5 to 70.00
7 to 100.00
10 to 150.00
15 to 200.00
20 to 300.00
Over 300.00
Effective Maturity-
Effective Duration-
Credit Quality Breakdown %     %
AAA -   BB-
AA-   B-
A-   Below B-
BBB-   Not Rated-
 
Category: Property - Direct UK
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock28.360.0028.36
Bond0.000.000.00
Property58.670.0058.67
Cash94.3681.5112.86
Other0.120.000.12
World Regions28/02/2025
 % of EquityRelative to Category
United States65.191.13
Canada1.561.40
Latin America0.000.00
United Kingdom2.850.16
Eurozone6.301.03
Europe - ex Euro2.721.09
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.194.23
Japan8.641.51
Australasia6.591.24
Asia - Developed5.961.74
Asia - Emerging0.000.00
 
Category: Property - Direct UK
Sector Weightings28/02/2025
 % of EquityRelative to Category
Real EstateReal Estate99.871.01
IndustrialsIndustrials0.130.75
 
Category: Property - Direct UK
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings285
Total Number of Bond Holdings0
Assets in Top 10 Holdings76.64
NameSectorCountry% of Assets
L&G FREEHOLD PROPERTY-58.67
LGIM Sterling Liquidity 1Ireland6.90
Prologis Inc104United States2.66
Equinix Inc104United States1.97
Welltower Inc104United States1.49
Simon Property Group Inc104United States1.37
Digital Realty Trust Inc104United States1.17
AvalonBay Communities Inc104United States1.08
Goodman Group104Australia0.78
Realty Income Corp104United States0.57
 
Increase Decrease New since last portfolio
Category: Property - Direct UK
 
Management
Name of CompanyLegal & General (Unit Trust Managers) Ltd
Phone-
Website -
AddressBrunel House
 Cardiff   CF24 0EB
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSNo
Inception Date27/05/2014
Fund Advisor(s)
Legal & General Investment Management Ltd.
Fund ManagerMichael Barrie
Manager Start Date23/05/2014
 
Biography
Michael is a director of LGP with specific responsibility for the Balanced Property Funds portfolio, including the L&G LPI Income Property Fund and the L&G Managed Property Fund. Michael established the authorised L&G Property Unit Trust in February 2006, and has an ongoing responsibility for the L&G UK Property Trust, which was awarded the Money Observer Best UK Property Fund in April 2009 for its performance over three years and a AAA rating by Citywire in 2009. 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 and 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 three-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 postgraduate diploma in property investment and is a member of the Royal Institution of Chartered Surveyors (MRICS) and the Association of British Insurers Property Group.
Fund ManagerMatt Jarvis
Manager Start Date23/05/2014
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.03%
Ongoing Charge-
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes