Legal & General UK 350 Index NAV

IMA Sector:

UK All Companies

ISIN:

GB0000179696

Fund Type:

OEIC

219.80p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 30-Oct-2024
  • Change: -2.80p
  • Change %: -1.26%
  • Currency: GBP
  • YTD change: 17.50p
  • YTD %: 8.65%

Fund Objective

The Capital Growth Fund aims is designed to track the capital performance of the FTSE 350 Index and to maintain a gross income yield equal to that of the Index.

View on Past Performance

During the year under review the bid price of the Fund's units rose by 13.7%. Because the FTSE 350 Index is not published at midday, by way of comparison, from close of business over the year the FTSE 350 Index (capital only) rose by 11.3%, whilst the FTSE 350 Index (total return) rose by 15.2%.The Fund has holdings in the constituents of the Index, therefore investment activity, other than to raise or invest cash, is only necessary when changes take place in the issued share capital of the consituent companies, or to the consituents of the Index.During the year under review there were four index reviews, where a number of new companies joined the Index. HHG (Speciality & Other Finance), Vedanta Resources (Mining) and Alea Group Holdings (Insurance) and CSR (Information Technology Hardware) were added in June. In September Premier Foods (Food Producers & Processors) and Virgin Mobile (Telecommunication Service) were included along with Halfords Group (General Retailers).Other takeovers included property company Canary Wharf Group, acquired by the Morgan Stanley vehicle Songbird Acquisitions in May, while the Pharmaceutical manufacturer, UCB acquired Celtech in July 2004.A number of companies returned cash to shareholders, including Rolls-Royce, Sainsbury(J), Great Portland Estates and Centrica.

Future Expectations

The FTSE 350 Index has been in an ebullient mood in the last few months. Concerns about institutional sellers did not materialise, with strong cash returns from the corporate sector through share buy-backs more than making up for pension fund selling. Moreover UK equities have appeared attractive to overseas investors, with relatively attractive ratings, rising corporate earnings and high dividend yields.UK equities do however remain vulnerable to rising interest rates, particularly if they have a major impact on the housing market, as well as potentially being affected by political uncertainties in the fun-up to the General Election.Overall the market may therefore pause for a while until these uncertainties are resolved and further progress can be made.

Fund Details

Latest Price 219.80p IMA Sector UK All Companies
Currency British Pound Launch Date 26/02/1996
Fund Size n/a Fund Manager Camilla Witheridge
ISIN GB0000179696 Dividend 0.95p

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Price Info

Date 30-Oct-2024
NAV 219.80p
Currency GBP
Change -2.80p
% -1.26%
YTD change 17.50p
YTD % 8.65%

Fund Facts

Fund Inception 26/02/1996
Fund Manager Camilla Witheridge
TER -

Fund Reports

Minimum Investment
Initial £500
Additional n/a
Savings n/a
Charges
Initial 3.00%
Annual Mang't 1.25%
Exit n/a

Risks

Name %
Standard deviation 0.02
Sharpe ratio 0.08

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