OverviewEdit

Fund factsEdit


Fund size	£1,392.6m
Launch date	1 Oct 1999
Share class launch	31 Oct 2012
Base currency	GBP
Domicile	UK

StatisticsEdit

Historical yield: 3.4% (as at 31st December 2022).

Fund aimEdit

The objective of the Fund is to track the performance of the FTSE All-Share Index, the "Benchmark Index" on a net total return basis before fees and expenses are applied. Fund performance may differ from the Benchmark Index due to the deduction of fees and expenses and the impact of any tracking error factors.

BenchmarkEdit

FTSE Cus All-Share Mid (12:00 UK) Net (UK UCIT) TR

Fund snapshotEdit

What does it invest in? Invests in shares of companies listed on the London Stock Exchange, as represented by the Index.
How does it invest? Passively managed, aiming to replicate the performance of the Index.

PerformanceEdit

Source: Lipper

Performance for the I Acc unit class in GBP, launched on 31 October 2012. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. The tables and charts above shows the fund's performance as the percentage loss or gain per year over the last 10 years.

Performance summary (%)Edit

To month-end (as at 31 Dec 2022)
Cumulative	Fund	Benchmark	Relative
Dec 2022	-1.14	-1.14	0.00
6 months	5.27	5.37	-0.10
Year to date	0.71	0.74	-0.03
3 years	7.34	7.35	-0.01
5 years	16.05	16.45	-0.40


Annualised	Fund	Benchmark	Relative
1 year	0.71	0.74	-0.03
3 years	2.39	2.39	0.00
5 years	3.02	3.09	-0.07

Benchmark: FTSE Cus All-Share Mid (12:00 UK) Net (UK UCIT) TR

Share class launch date: 31 Oct 2012.

PortfolioEdit

As at 31 Dec 2022. All data source LGIM unless otherwise stated. Totals may not sum due to rounding. In order to minimise transaction costs, the Fund will not always own all the assets that constitute the index and on occasion it will own assets that are not in the index. 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.

Sector (%)
Financials	22.3
Consumer Staples	16.0
Health Care	11.6
Energy	11.2
Industrials	10.8
Consumer Discretionary	10.4
Basic Materials	8.9
Utilities	3.5
Real Estate	2.5
Other	2.8

Market capitalisation (%)
Large	69.3
Mid	19.8
Small	11.0
Undefined	-


Top 10 issuers	42.3%
Rest of portfolio	57.7%
Number of holdings in fund	589
Number of holdings in index	585

Top 10 issuers (%)
AstraZeneca	7.2
Shell	7.2
Unilever	4.6
HSBC Holdings	4.5
BP	3.7
Diageo	3.6
British American Tobacco	3.2
Glencore	3.1
Rio Tinto	2.7
GSK	2.5

Country (%)
United Kingdom	100.0

ManagerEdit

The Index Fund Management team comprises 25 fund managers, supported by two analysts. Management oversight is provided by the Global Head of Index Funds. The team has average industry experience of 15 years, of which seven years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.

LiteratureEdit


Document type	Publication date	Link
Fact sheet	31 Jan 2023	https://fundcentres.lgim.com/srp/lit/NyWAMj/Fact-sheet_LG-N-Tracker-Trust_31-01-2023_UK-INST_UK-ADV_UK-PRIV.pdf
Key Investor Information Document (KIID)^[1]	17 Feb 2023	https://fundcentres.lgim.com/srp/lit/70LRne/KIID_LG-N-Tracker-Trust-I-Acc-GBP_17-02-2023_Multi-Audience.pdf
Prospectus	30 Dec 2022	https://fundcentres.lgim.com/srp/lit/NjobbL/Prospectus_Index_30-12-2022_UK-INST_UK-ADV_UK-PRIV.pdf
Value assessment	30 Apr 2022	https://fundcentres.lgim.com/srp/lit/XG9elw/Assessment-of-value_Unit-Trusts_30-04-2022_Multi-Audience.pdf

IncomeEdit

Latest dividendsEdit

The latest dividends are shown below. The historic level of income generated by this fund may go down as well up and will vary over time.


Type	Ex-div date	Pay date	Dividend per unit
Final	03 Oct 22	30 Nov 22	5.34p
Interim	01 Apr 22	31 May 22	3.92p
Final	01 Oct 21	30 Nov 21	4.92p
Interim	01 Apr 21	31 May 21	3.37p
Final	01 Oct 20	30 Nov 20	3.06p
Interim	01 Apr 20	31 May 20	3.60p
Final	01 Oct 19	29 Nov 19	5.65p
Interim	01 Apr 19	31 May 19	4.14p
Final	01 Oct 18	30 Nov 18	4.98p
Interim	03 Apr 18	31 May 18	3.53p
Final	02 Oct 17	30 Nov 17	4.43p
Interim	03 Apr 17	31 May 17	3.46p
Final	03 Oct 16	30 Nov 16	3.85p
Interim	01 Apr 16	31 May 16	3.04p

PricesEdit


Date	Price	Currency	Price time
24 February 2023	284.80p	GBP	12:00 UK time

Further detailsEdit

Costs


Price basis	Single swing^[2]
Initial charge	0.00%
Ongoing charges figure	0.16%
Dilution adjustment^[3]	0.72%- round trip^[4]

Dilution adjustment: On any day, the prices for buying or selling units in this Fund are the same. The Fund manager calculates a single price for this Fund based on the mid-point between the buying and selling prices of the Fund's assets. In certain circumstances, the Fund manager can adjust this price to account for whether there is more money going into or coming out of the Fund. This is called a ‘dilution adjustment’.

This can vary but as an example for this Fund we estimate 0.61% for purchases and 0.11% for sales at 02 February 2023. The amount of the dilution adjustment may differ in future. For more information about charges and costs, please see the charges and expenses section in the Fund's Prospectus, or visit our website at www.legalandgeneral.com/chargesandfees.

CodesEdit


ISIN^[5]	GB00B8386G47
SEDOL^[6]	B8386G4
Bloomberg	LGTRTIA LN
MEX	LGRUSE

Dealing informationEdit


Valuation frequency^[7]	Daily, 12pm (UK time)
Dealing frequency	Daily
Settlement period^[8]	T+4

Country registrationEdit

This share class is registered for sale in the following countries: UK.

References and notesEdit

↑ KIID stands for Key Investor Information Document. It is a document that provides essential information about investment products such as mutual funds, exchange-traded funds (ETFs), and other collective investment schemes, in a standardized format across the European Union (EU). The KIID is intended to help investors make informed decisions about the investment products they are considering, by providing information on the investment's objectives, risks, performance, and costs. The KIID must be provided to investors before they invest in an investment product and must be updated regularly to reflect any material changes to the investment product. The document must also be made available on the investment product's website. The KIID is part of the regulatory framework established by the EU's Undertakings for Collective Investment in Transferable Securities (UCITS) Directive, which sets out rules for collective investment schemes that are marketed to retail investors in the EU. The KIID is also used for non-UCITS funds marketed to retail investors in the EU.
↑ Single Swing: the pricing methodology set out in Section 12.5.3 where the Net Asset Value per Unit may be adjusted on any Dealing Day by way of a Dilution Adjustment. Swing Factor: the percentage of the Net Asset Value by which the price of Units will be adjusted in accordance with Section 12.5.3, as set by the Manager from time to time and which generally shall not exceed 2% of the Net Asset Value per Unit of the relevant Fund.
↑ Dilution Adjustment: an adjustment to the price of Units by such amount or at such rate as is determined by the Manager for the purpose of reducing the effect of Dilution. Dilution: the amount of dealing costs incurred, or expected to be incurred for the account of a single-priced Fund to the extent that these costs may reasonably be expected to result, or have resulted, from the acquisition or disposal of investments for the account of the single-priced Fund as a consequence (whether or not immediate) of the increase or decrease in the cash resources of the single-priced Fund resulting from the issue or cancellation of Units over a period; for the purposes of this definition, dealing costs include both the costs of dealing in an investment, professional fees incurred, or expected to be incurred, in relation to the acquisition or disposal of approved immovables and, where there is a spread between the buying and selling prices of the investment, the indirect cost resulting from the differences between those prices.
↑ In finance, a round trip dilution adjustment is a type of adjustment made to the performance of an investment in order to account for the impact of dilution on the investment's value. Dilution occurs when a company issues new shares of stock, which can reduce the ownership percentage and value of existing shares. A round trip dilution adjustment takes into account both the dilution that occurs when new shares are issued and the potential increase in value that occurs when the new shares are later sold or redeemed. It assumes that the investor sells their shares at the end of the investment period and that any new shares issued during the investment period are also sold at that time. To calculate a round trip dilution adjustment, the performance of the investment is first calculated without taking into account any dilution that occurred during the investment period. This is known as the "undiluted return". The actual return of the investment, taking into account the dilution that occurred during the investment period, is then calculated by adjusting the undiluted return based on the number of shares that were diluted and the price at which the new shares were issued. For example, suppose an investor owns 100 shares of a company that issues 10 new shares during the investment period. The investor's ownership percentage and the value of their shares would be diluted by 9.09% (10 new shares divided by 110 total shares). If the undiluted return of the investment was 10%, the round trip dilution adjustment would be calculated by adjusting the return downward by 9.09% to account for the dilution, resulting in an actual return of 9.10%. This adjustment ensures that the investor's return is more accurately reflected by taking into account the impact of dilution on the value of their investment.
↑ ISIN stands for International Securities Identification Number. It is a unique identification code that is used to identify securities such as stocks, bonds, and other financial instruments. The ISIN code is a 12-character alphanumeric code that is assigned to each security, and it provides a standardized way to identify securities across different countries and exchanges. The code is made up of three parts: 1) Country code: The first two characters of the ISIN code represent the country in which the security was issued. 2) Security code: The next nine characters of the ISIN code are unique to the security and are assigned by the national numbering agency of the country where the security was issued. 3) Check digit: The final character of the ISIN code is a check digit that is calculated using a mathematical formula based on the other 11 characters in the code. This helps to ensure the accuracy of the code. The ISIN code is used by financial institutions, regulators, and investors to identify and track securities for trading, settlement, and reporting purposes. It is an important tool for facilitating international investment and ensuring transparency in financial markets.
↑ SEDOL stands for Stock Exchange Daily Official List. It is a seven-character alphanumeric code that is used to identify securities traded on the London Stock Exchange and other exchanges in the United Kingdom. The SEDOL code is assigned by the London Stock Exchange and is used to uniquely identify each security listed on the exchange. The code consists of two parts: 1) Six-character alphanumeric security identifier: This part of the code uniquely identifies the security and is assigned by the London Stock Exchange. 2) Check digit: The final character of the code is a check digit that is calculated using a mathematical formula based on the other six characters in the code. This helps to ensure the accuracy of the code. The SEDOL code is used by financial institutions, regulators, and investors to identify and track securities for trading, settlement, and reporting purposes. It is an important tool for facilitating trading and ensuring transparency in financial markets. SEDOL codes are also used in conjunction with other security identification codes, such as ISINs, to provide additional information about securities traded on the London Stock Exchange.
↑ Valuation frequency refers to the frequency at which the value of an asset or a portfolio of assets is calculated and updated. In finance and investment management, the value of assets such as stocks, bonds, mutual funds, real estate, and other investments may change frequently due to market fluctuations or changes in economic conditions. As a result, it's important to regularly assess the value of these assets in order to make informed investment decisions. Valuation frequency can vary depending on the type of asset, the investment strategy, and the investment horizon. For example, the value of a stock can change frequently throughout the trading day, so investors may choose to track its value in real-time or at the end of each trading day. On the other hand, the value of a real estate property may be updated less frequently, such as annually or every few years. In addition, the frequency of valuation can also depend on the level of detail required for valuation. For example, a portfolio of assets may be valued at a high level on a daily basis, while a more detailed valuation may be performed less frequently, such as monthly or quarterly. Overall, the valuation frequency is an important factor in determining the accuracy of the value of an asset or portfolio and can impact investment decisions and overall portfolio performance.
↑ The settlement period is the amount of time it takes for a financial transaction to be completed and for the funds or assets to be transferred between two parties. In financial markets, when a trade is executed, there is usually a delay between the time the trade is made and the time when the buyer receives the securities or the seller receives the payment. The settlement period is the time period during which the transaction is settled and the transfer of ownership is completed. The length of the settlement period can vary depending on the type of transaction and the market involved. For example, in the stock market, the settlement period is usually two business days after the trade date (referred to as T+2 settlement). In the foreign exchange market, the settlement period can be as short as one day or as long as a week, depending on the currencies involved and the location of the parties involved in the transaction. The settlement period is an important part of the financial transaction process as it ensures that both parties fulfill their obligations and that the transfer of funds or assets is completed successfully.

[1] KIID stands for Key Investor Information Document. It is a document that provides essential information about investment products such as mutual funds, exchange-traded funds (ETFs), and other collective investment schemes, in a standardized format across the European Union (EU). The KIID is intended to help investors make informed decisions about the investment products they are considering, by providing information on the investment's objectives, risks, performance, and costs. The KIID must be provided to investors before they invest in an investment product and must be updated regularly to reflect any material changes to the investment product. The document must also be made available on the investment product's website. The KIID is part of the regulatory framework established by the EU's Undertakings for Collective Investment in Transferable Securities (UCITS) Directive, which sets out rules for collective investment schemes that are marketed to retail investors in the EU. The KIID is also used for non-UCITS funds marketed to retail investors in the EU.

[2] Single Swing: the pricing methodology set out in Section 12.5.3 where the Net Asset Value per Unit may be adjusted on any Dealing Day by way of a Dilution Adjustment. Swing Factor: the percentage of the Net Asset Value by which the price of Units will be adjusted in accordance with Section 12.5.3, as set by the Manager from time to time and which generally shall not exceed 2% of the Net Asset Value per Unit of the relevant Fund.

[3] Dilution Adjustment: an adjustment to the price of Units by such amount or at such rate as is determined by the Manager for the purpose of reducing the effect of Dilution. Dilution: the amount of dealing costs incurred, or expected to be incurred for the account of a single-priced Fund to the extent that these costs may reasonably be expected to result, or have resulted, from the acquisition or disposal of investments for the account of the single-priced Fund as a consequence (whether or not immediate) of the increase or decrease in the cash resources of the single-priced Fund resulting from the issue or cancellation of Units over a period; for the purposes of this definition, dealing costs include both the costs of dealing in an investment, professional fees incurred, or expected to be incurred, in relation to the acquisition or disposal of approved immovables and, where there is a spread between the buying and selling prices of the investment, the indirect cost resulting from the differences between those prices.

[4] In finance, a round trip dilution adjustment is a type of adjustment made to the performance of an investment in order to account for the impact of dilution on the investment's value. Dilution occurs when a company issues new shares of stock, which can reduce the ownership percentage and value of existing shares. A round trip dilution adjustment takes into account both the dilution that occurs when new shares are issued and the potential increase in value that occurs when the new shares are later sold or redeemed. It assumes that the investor sells their shares at the end of the investment period and that any new shares issued during the investment period are also sold at that time. To calculate a round trip dilution adjustment, the performance of the investment is first calculated without taking into account any dilution that occurred during the investment period. This is known as the "undiluted return". The actual return of the investment, taking into account the dilution that occurred during the investment period, is then calculated by adjusting the undiluted return based on the number of shares that were diluted and the price at which the new shares were issued. For example, suppose an investor owns 100 shares of a company that issues 10 new shares during the investment period. The investor's ownership percentage and the value of their shares would be diluted by 9.09% (10 new shares divided by 110 total shares). If the undiluted return of the investment was 10%, the round trip dilution adjustment would be calculated by adjusting the return downward by 9.09% to account for the dilution, resulting in an actual return of 9.10%. This adjustment ensures that the investor's return is more accurately reflected by taking into account the impact of dilution on the value of their investment.

[5] ISIN stands for International Securities Identification Number. It is a unique identification code that is used to identify securities such as stocks, bonds, and other financial instruments. The ISIN code is a 12-character alphanumeric code that is assigned to each security, and it provides a standardized way to identify securities across different countries and exchanges. The code is made up of three parts: 1) Country code: The first two characters of the ISIN code represent the country in which the security was issued. 2) Security code: The next nine characters of the ISIN code are unique to the security and are assigned by the national numbering agency of the country where the security was issued. 3) Check digit: The final character of the ISIN code is a check digit that is calculated using a mathematical formula based on the other 11 characters in the code. This helps to ensure the accuracy of the code. The ISIN code is used by financial institutions, regulators, and investors to identify and track securities for trading, settlement, and reporting purposes. It is an important tool for facilitating international investment and ensuring transparency in financial markets.

[6] SEDOL stands for Stock Exchange Daily Official List. It is a seven-character alphanumeric code that is used to identify securities traded on the London Stock Exchange and other exchanges in the United Kingdom. The SEDOL code is assigned by the London Stock Exchange and is used to uniquely identify each security listed on the exchange. The code consists of two parts: 1) Six-character alphanumeric security identifier: This part of the code uniquely identifies the security and is assigned by the London Stock Exchange. 2) Check digit: The final character of the code is a check digit that is calculated using a mathematical formula based on the other six characters in the code. This helps to ensure the accuracy of the code. The SEDOL code is used by financial institutions, regulators, and investors to identify and track securities for trading, settlement, and reporting purposes. It is an important tool for facilitating trading and ensuring transparency in financial markets. SEDOL codes are also used in conjunction with other security identification codes, such as ISINs, to provide additional information about securities traded on the London Stock Exchange.

[7] Valuation frequency refers to the frequency at which the value of an asset or a portfolio of assets is calculated and updated. In finance and investment management, the value of assets such as stocks, bonds, mutual funds, real estate, and other investments may change frequently due to market fluctuations or changes in economic conditions. As a result, it's important to regularly assess the value of these assets in order to make informed investment decisions. Valuation frequency can vary depending on the type of asset, the investment strategy, and the investment horizon. For example, the value of a stock can change frequently throughout the trading day, so investors may choose to track its value in real-time or at the end of each trading day. On the other hand, the value of a real estate property may be updated less frequently, such as annually or every few years. In addition, the frequency of valuation can also depend on the level of detail required for valuation. For example, a portfolio of assets may be valued at a high level on a daily basis, while a more detailed valuation may be performed less frequently, such as monthly or quarterly. Overall, the valuation frequency is an important factor in determining the accuracy of the value of an asset or portfolio and can impact investment decisions and overall portfolio performance.

[8] The settlement period is the amount of time it takes for a financial transaction to be completed and for the funds or assets to be transferred between two parties. In financial markets, when a trade is executed, there is usually a delay between the time the trade is made and the time when the buyer receives the securities or the seller receives the payment. The settlement period is the time period during which the transaction is settled and the transfer of ownership is completed. The length of the settlement period can vary depending on the type of transaction and the market involved. For example, in the stock market, the settlement period is usually two business days after the trade date (referred to as T+2 settlement). In the foreign exchange market, the settlement period can be as short as one day or as long as a week, depending on the currencies involved and the location of the parties involved in the transaction. The settlement period is an important part of the financial transaction process as it ensures that both parties fulfill their obligations and that the transfer of funds or assets is completed successfully.

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L&G (N) Tracker Trust

Contents