Morningstar Fund Report  | 05/04/2025Print

Legal & General Multi-Asset Target Return Fund I Class Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Legal & General Multi-Asset Target Return Fund I Class Accumulation
Fund4.7-5.05.43.90.5
+/-Cat2.0-7.31.5-1.1-1.3
+/-B’mrk5.08.2-0.60.4-0.2
 
Category: Macro Trading GBP
Category Benchmark: Morningstar UK Cau Tgt Allo...
Key Stats
NAV
04/04/2025		 GBX 70.13
Day Change -0.47%
Morningstar Category™ Macro Trading GBP
IA (formerly IMA) Sector Targeted Absolute Return
ISIN GB00BD97XY71
Fund Size (Mil)
31/03/2025		 GBP 400.25
Share Class Size (Mil)
04/04/2025		 GBP 47.40
Max Initial Charge -
Ongoing Charge
21/03/2025		  0.65%
Investment Objective: Legal & General Multi-Asset Target Return Fund I Class Accumulation
The objective of the Fund is to provide a combination of income and growth. The Fund aims to achieve a total return of both income and capital of the Bank of England Base Rate +5% per annum, the “Benchmark”. This objective is before the deduction of any charges and measured over rolling three year periods. To obtain this exposure, the Manager may invest directly and/or indirectly through the use of derivatives, investing in transferable securities and collective investment schemes (both active and index tracker) including those which are operated by the Manager or an Associate.
Returns
Trailing Returns (GBP)04/04/2025
YTD0.53
3 Years Annualised1.46
5 Years Annualised4.90
10 Years Annualised-
12 Month Yield 4.97
Management
Manager Name
Start Date
Willem Klijnstra
20/03/2015
Emiel Van den Heiligenberg
20/03/2015
Click here to see others
Inception Date
19/02/2016

Category Benchmark
Fund BenchmarkMorningstar Benchmark
Bank Of England Base Rate +5% TR GBPMorningstar UK Cau Tgt Alloc NR GBP
Portfolio Profile for  Legal & General Multi-Asset Target Return Fund I Class Accumulation28/02/2025
Morningstar Style Box®
Equity Style
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock19.682.2917.39
Bond70.094.3465.76
Property0.000.000.00
Cash19.712.3817.33
Other2.112.59-0.48
Fixed Income
Effective Maturity-
Effective Duration-
Top 5 Regions%
Eurozone55.00
United States22.93
Europe - ex Euro7.37
Asia - Emerging5.19
United Kingdom2.35
Top 5 Sectors%
Industrials29.77
Consumer Cyclical27.22
Real Estate11.59
Technology10.62
Utilities10.12
Top 5 HoldingsSector%
United Kingdom of Great Britain ... 7.36
United Kingdom of Great Britain ... 7.31
United Kingdom of Great Britain ... 6.14
United Kingdom of Great Britain ... 6.08
Japan (Government Of) 2.2%5.80
Increase Decrease New since last portfolio
Legal & General Multi-Asset Target Return Fund I Class Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  Legal & General Multi-Asset Target Return Fund I Class Accumulation
Category:  Macro Trading GBP
Category Index:  Morningstar UK Cau Tgt Alloc NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-0.497.473.914.66-5.015.373.890.47
+/- Category-1.221.803.132.02-7.301.49-1.13-1.32
+/- Category Index---1.664.978.24-0.600.42-0.16
% Rank in Category2416592868416171
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.47   -0.37-0.46
1 Week0.33   -0.06-0.28
1 Month2.05   2.212.57
3 Months0.62   -0.40-0.19
6 Months0.86   -1.000.55
YTD0.53   -0.68-0.35
1 Year2.35   -2.59-2.03
3 Years Annualised1.46   -1.841.22
5 Years Annualised4.90   0.564.66
10 Years Annualised-   --
 
Category: Macro Trading GBP
Category Index: Morningstar UK Cau Tgt Alloc NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20250.47---
20242.59-0.231.120.37
20232.98-2.393.950.84
2022-0.51-8.16-2.666.80
20212.611.89-0.600.72
2020-10.997.474.104.35
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAverage2 star
5-YearAverageAbove Average3 star
10-Year--Not Rated
OverallAverageAbove Average3 star
 
Category :  Macro Trading GBPClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev5.78 %
3-Yr Mean Return1.80 %
 
3-Yr Sharpe Ratio-0.39
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK Cau Tgt Alloc NR GBP  Morningstar UK HY Bd GR GBP
3-Yr Beta0.400.58
3-Yr Alpha-0.74-3.79
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 23196-
Market Capitalisation% of Equity
Giant21.37
Large37.02
Medium32.45
Small8.36
Micro0.81
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.490.73
Price/Book1.260.54
Price/Sales0.660.50
Price/Cash Flow5.520.59
Dividend-Yield Factor4.582.25
 
Long-Term Projected Earnings Growth24.851.76
Historical Earnings Growth3.620.44
Sales Growth0.230.08
Cash-Flow Growth0.040.01
Book-Value Growth2.630.51
 
Category: Macro Trading GBP
Fixed Income Style-
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 407
Maturity Distribution %
1 to 338.97
3 to 513.81
5 to 74.86
7 to 104.59
10 to 150.33
15 to 200.38
20 to 309.23
Over 300.53
Effective Maturity-
Effective Duration-
Credit Quality Breakdown %     %
AAA -   BB-
AA-   B-
A-   Below B-
BBB-   Not Rated-
 
Category: Macro Trading GBP
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock19.682.2917.39
Bond70.094.3465.76
Property0.000.000.00
Cash19.712.3817.33
Other2.112.59-0.48
World Regions28/02/2025
 % of EquityRelative to Category
United States22.930.36
Canada0.950.67
Latin America0.250.93
United Kingdom2.351.11
Eurozone55.003.46
Europe - ex Euro7.371.37
Europe - Emerging0.974.83
Africa1.062.76
Middle East0.770.78
Japan0.630.35
Australasia1.172.32
Asia - Developed1.330.49
Asia - Emerging5.191.02
 
Category: Macro Trading GBP
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials5.181.39
Consumer CyclicalConsumer Cyclical27.222.14
Financial ServicesFinancial Services1.990.15
Real EstateReal Estate11.598.03
Consumer DefensiveConsumer Defensive0.310.07
HealthcareHealthcare1.240.07
UtilitiesUtilities10.122.14
Communication ServicesCommunication Services1.210.32
EnergyEnergy0.740.41
IndustrialsIndustrials29.772.78
TechnologyTechnology10.620.40
 
Category: Macro Trading GBP
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings69
Total Number of Bond Holdings598
Assets in Top 10 Holdings53.09
NameSectorCountry% of Assets
United Kingdom of Great Britain and N... United Kingdom7.36
United Kingdom of Great Britain and N... United Kingdom7.31
United Kingdom of Great Britain and N... United Kingdom6.14
United Kingdom of Great Britain and N... United Kingdom6.08
Japan (Government Of) 2.2%Japan5.80
United Kingdom of Great Britain and N... United Kingdom5.76
United Kingdom of Great Britain and N... United Kingdom4.76
United Kingdom of Great Britain and N... United Kingdom3.66
United Kingdom of Great Britain and N... United Kingdom3.64
L&G Artificial Intelligence ETFIreland2.58
 
Increase Decrease New since last portfolio
Category: Macro Trading GBP
 
Management
Name of CompanyLegal & General (Unit Trust Managers) Ltd
Phone-
Website -
AddressBrunel House
 Cardiff   CF24 0EB
 United Kingdom
DomicileUnited Kingdom
Legal StructureUnit Trust
UCITSYes
Inception Date19/02/2016
Fund Advisor(s)
Legal & General Investment Management Ltd.
Fund ManagerWillem Klijnstra
Manager Start Date20/03/2015
Education
University of Amsterdam, M.Sc
University of Groningen, M.Sc
 
Biography
Willem is responsible for LGIM's tactical asset allocation strategies. Willem joined LGIM in 2014 from BNP Paribas Investment Partners where he held the title of Head of TAA Research and Strategies. In this role he took responsibility for the multi-asset investment process and active management of global multi-asset portfolios, leading a team of economists, strategists and analysts. Prior to that, he held various positions in the same multi-asset solutions team overseeing portfolio management activities and the TAA research effort, and was involved in alpha generation. He started his investment career in the same team as a portfolio manager in 2001, and started to manage absolute return portfolios and GTAA overlay portfolios in 2004. Willem graduated from the University of Groningen and University of Amsterdam, and holds a master’s degree in econometrics and actuarial sciences. Willem is also a CFA charterholder.
Fund ManagerEmiel Van den Heiligenberg
Manager Start Date20/03/2015
Education
Tilburg University, M.S.
 
Biography
Emiel joined LGIM in August 2013 as Head of Asset Allocation with responsibility for asset allocation strategy and macro research. Prior to joining LGIM, Emiel was CIO of the Multi-Asset Solutions Group at BNP Paribas Investment Partners, and responsible for managing a range of multi-asset strategies including absolute return, diversified growth funds, LDI and fiduciary, balanced mandates and multi-manager mandates. Emiel joined the asset allocation team at Fortis Investment (now BNP Paribas) in April 2000, as a strategist and portfolio manager, becoming head of the team in 2002. Prior to joining BNP Paribas, he worked as a portfolio manager at ING Investment Management, joining the company after working as a policy adviser in the Dutch Ministry of Finance. Emiel graduated from Tilburg University with a master’s degree in economics and holds a postgraduate qualification from VBA/EFFAS (the European Federation of Financial Analysts Societies).
Fund ManagerChris Teschmacher
Manager Start Date19/02/2016
Education
2008, Bristol University, B.A./B.S.
 
Biography
Chris is a fund manager within LGIM’s Multi Asset Funds team with responsibilities in portfolio management and on-going development across the multi-asset product range. Chris joined LGIM in 2015 from HSBC Global Asset Management where he had spent over 6 years, most recently in the multi asset team covering capabilities including risk-targeted multi asset, multi-asset income and global tactical asset allocation. Chris has also worked on the emerging market debt team at HSBC in New York as a product specialist. Chris is a CFA Charterholder and holds the Investment Management Certificate. He graduated from Bristol University in 2008 with honours having studied economics and management.
Fund ManagerJosh Logan
Manager Start Date31/12/2024
Education
University of Bath, B.S.
 
Biography
Josh is a Fund Manager within the Asset Allocation team. His responsibilities cover the management of target return funds, alternative risk premia strategies and equity factors. Josh also works in investment strategy, focusing on idea generation in currencies, volatility and alternative risk premia. Josh graduated from the University of Bath with a degree in Mathematical Sciences and is a CFA charterholder.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.65%
Ongoing Charge0.65%
Purchase Details
Minimum Investments
Initial1000000  GBP
Additional20000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes