Choose the information you want to see on your home page.

Breaking news

We've cut a number of the OCFs on our index-tracking fund range.

Find out more about the index re-pricing.

Fund commentaries

November 2014

Dynamic Bond Trust: September 2014

September brought a slowdown to the strength that had characterised risk markets recently.

Fixed Interest Trust: September 2014

September brought a slowdown to the strength that had characterised risk markets over the past few years.

High Income Trust: September 2014

September brought a slowdown to the strength that had characterised risk markets recently.

Managed Monthly Income Trust: September 2014

September brought a slowdown to the strength that had characterised risk markets over the past few years.

Sterling Income Fund: September 2014

September brought a slowdown to the strength that had characterised risk markets over the past few years.

Mixed Investment 0-35 Fund: September 2014

During September political events again took centre stage when the European Central Bank tried to address fears of deflation by implementing a further rate cut and announcing further stimulus measures.

Mixed Investment 20-60 Fund: September 2014

During September political events again took centre stage when the European Central Bank tried to address fears of deflation by implementing a further rate cut and announcing further stimulus measures.

Mixed Investment 40-85 Fund: September 2014

During September political events again took centre stage when the European Central Bank tried to address fears of deflation by implementing a further rate cut and announcing further stimulus measures.

October 2014

Index charges reduced

Legal & General Investment Management (LGIM) has reduced charges significantly across a number of funds in its comprehensive index fund range.

Fixed Income Focus: A very short rate hiking cycle

This year’s hot topic has been the future rate hiking cycle but, in the meantime, economic data has disappointed and yields have fallen.

Multi Index Fund 3: September 2014

Political events took centre stage in the UK and the European Central Bank president Draghi surprised markets by implementing a further rate cut and introduced further stimulus measures in September.

Multi Index Fund 4: September 2014

Political events took centre stage in the UK and the European Central Bank president Draghi surprised markets by implementing a further rate cut and introduced further stimulus measures in September.

Multi Index Fund 5: September 2014

Political events took centre stage in the UK and the European Central Bank president Draghi surprised markets by implementing a further rate cut and introduced further stimulus measures in September.

Multi Index Fund 6: September 2014

Political events took centre stage in the UK and the European Central Bank president Draghi surprised markets by implementing a further rate cut and introduced further stimulus measures in September.

Multi Index Fund 7: September 2014

Political events took centre stage in the UK and the European Central Bank president Draghi surprised markets by implementing a further rate cut and introduced further stimulus measures in September.

UK Property Fund: September 2014

In September the total returns in the IPD Monthly index delivered 1.7% as the investment market returned to life after the holiday period.

All Stocks Gilt Index Trust: September 2014

Gilts prices eased marginally during September, despite some ongoing ‘safe haven’ support.

All Stocks Index Linked Gilt Index Trust: September 2014

Despite ongoing ‘safe haven’ buying resulting from uncertainties in the Middle East, gilt prices eased marginally in September.

European Index Trust: September 2014

European equity markets ended the month marginally higher after the European Central Bank announced that it would begin proposals to begin purchases of asset-backed securities and covered bonds.

Global 100 Index Trust: September 2014

Global equity markets lost ground in September, largely as a result of the unsettling geopolitical backdrop and concerns over the prospect of higher US interest rates.

Global Emerging Markets Index Fund: September 2014

Emerging-market equities fell heavily in September, wiping out a substantial proportion of their year-to-date gains.

Global Health And Pharmaceuticals Index Trust: September 2014

Although concerns over rising levels of Middle East conflict weighed on global equities in September, healthcare shares showed some resilience.

Global Technology Index Trust: September 2014

Although global equities lost ground in September on concerns over deepening Middle East conflict, some encouraging corporate newsflow helped the IT sector, particularly in the US, to perform relatively well.

International Index Trust: September 2014

International equity markets lost ground in September. The FTSE World Index ex UK fell by 1.1% in local currency terms, translating into a decline of 0.6% in sterling terms.

Japan Index Trust: September 2014

Japanese stocks outperformed other major markets in September, with exporters in sectors such as technology, autos and capital goods leading the rally as the yen fell to a 6-year low.

Pacific Index Trust: September 2014

Asia Pacific stock markets recorded their worst monthly performance since May 2012.

UK 100 Index Trust: September 2014.

Although UK equities recorded a 14-year high in early September, the market posted its worst monthly loss since January with the FTSE 100 index declining by 2.8%.

UK Index Trust: September 2014

Although UK equities recorded a 14-year high in early September, the market posted its worst monthly loss since January with the FTSE All Share index declining by 2.8%.

US Index Trust: September 2014

Despite advancing to a new all-time high early in the month, US equities lost ground in September with the FTSE USA Index declining by 1.6% in dollar terms.

UK Special Situations Trust: September 2014

Political events took centre stage in the UK as the ECB introduced stimulus measures and launched an asset purchase programme in September.

Asian Income Trust: September 2014

Asian Equity markets pulled back sharply in September with the FTSE All World Asia Pacific ex Japan index falling by 4.66% over the month in sterling terms.

UK Equity Income: September 2014

Equity markets across the globe stuttered in September as the geopolitical landscape was once again at the forefront of investors’ agendas.

UK Alpha Trust: September 2014

Political events took centre stage in the UK as the ECB introduced stimulus measures and launched an asset purchase programme in September.

Growth Trust: September 2014

Political events took centre stage in the UK as the ECB introduced stimulus measures and launched an asset purchase programme in September.

UK Active Opportunities Trust: September 2014

Political events took centre stage in the UK as the ECB introduced stimulus measures and launched an asset purchase programme in September.

UK Smaller Companies Trust: September 2014

Political events took centre stage in the UK as the ECB introduced stimulus measures and launched an asset purchase programme in September.

European Trust: September 2014

Equities and commodities performed poorly in September, although European large caps did manage to outperform the UK market, where political events took centre stage.

Sterling Income Fund: August 2014

August proved to be a strong market for both equities and bonds dominated by ongoing geopolitical uncertainty and further disappointing European economic data.

Managed Monthly Income Trust: August 2014

August proved to be a strong market for both equities and bonds dominated by ongoing geopolitical uncertainty and further disappointing European economic data.

Fixed Interest Trust: August 2014

August proved to be a strong market for both equities and bonds dominated by ongoing geopolitical uncertainty and further disappointing European economic data.

Dynamic Bond Trust: August 2014

The global economy continued to exhibit signs of reasonable strength which pushed equity markets higher over August.

Mixed Investment 0-35 Fund: August 2014

Equity markets and high yield bonds were initially weaker in August, but shrugged off concerns about the path of US interest rates and ongoing fighting in Ukraine to finish the month higher.

Mixed Investment 20-60 Fund: August 2014

Equity markets and high yield bonds were initially weaker in August, but shrugged off concerns about the path of US interest rates and ongoing fighting in Ukraine to finish the month higher.

Mixed Investment 40-85 Fund: August 2014

Equity markets and high yield bonds were initially weaker in August, but shrugged off concerns about the path of US interest rates and ongoing fighting in Ukraine to finish the month higher.

Multi Index Fund 3: August 2014

August is often a relatively quiet month for investment markets, but despite the news being dominated by geopolitical events many markets produced strong returns.

Multi Index Fund 4: August 2014

August is often a relatively quiet month for investment markets, but despite the news being dominated by geopolitical events many markets produced strong returns.

Multi Index Fund 5: August 2014

August is often a relatively quiet month for investment markets, but despite the news being dominated by geopolitical events many markets produced strong returns.

Multi Index Fund 6: August 2014

August is often a relatively quiet month for investment markets, but despite the news being dominated by geopolitical events many markets produced strong returns.

Multi Index Fund 7: August 2014

August is often a relatively quiet month for investment markets, but despite the news being dominated by geopolitical events many markets produced strong returns.

September 2014

All Stocks Gilt Index Trust: August 2014

Gilt prices rallied during August, buoyed by ongoing ‘safe haven’ buying amid conflict in Ukraine and the Middle East.

All Stocks Index Linked Gilt Index Trust: August 2014

Gilts extended their recent gains, rallying alongside euro zone bonds amid speculation that the ECB could embark on quantitative easing to bolster the struggling economy and combat deflationary risks.

European Index Trust: August 2014

European equity markets struggled to make headway last month with the FTSE Europe ex UK Index returning -0.3% in local currency terms, translating into a return of 0.1% in sterling.

Global 100 Index Trust: August 2014

Global equity markets gained ground in August, with the FTSE World ex UK Index returning 2.7% in local currency terms, translating into a return of 4.2% in sterling.

Global Emerging Markets Index Fund: August 2014

Emerging-market equities made further progress last month with the MSCI Emerging Markets index returning 2.0% in local currency terms, translating into a return of 4.0% in sterling.

Global Health And Pharmaceuticals Index Trust: August 2014

Global healthcare shares ended the month higher, marginally outperforming the positive returns from wider global equities.

Global Technology Index Trust: August 2014

Following a soft start to August amid ongoing concerns over conflict in the Middle East and Ukraine, global technology shares subsequently rallied alongside wider global equity markets.

High Income Trust: August 2014

August proved to be a strong market for both equities and bonds dominated by on-going geopolitical uncertainty and further disappointing European economic data.

International Index Trust: August 2014

Global equity markets gained ground in August, with the FTSE World ex UK Index returning 2.7% in local currency terms, translating into a return of 4.2% in sterling.

Japan Index Trust: August 2014

Japanese stocks underperformed other major markets in August, as the conflict in Ukraine and concerns over the domestic economic outlook and corporate earnings unsettled investors.

Pacific Index Trust: August 2014

Asia Pacific stock markets gained further ground in August, although total returns trailed the global indices.

UK 100 Index Trust: August 2014.

UK equities advanced as stronger economic data propelled US shares to a record high, more than recovering losses of the previous two months.

UK Index Trust: August 2014

UK equities advanced as stronger economic data propelled US shares to a record high, more than recovering losses of the previous two months.

UK Property Fund: August 2014

August monthly index recorded a slight moderation in the pace of the market over summer, delivering 1.4% total return (compared to 1.6% in July and 2.1% in June).

US Index Trust: August 2014

US equities ended August at a new record high, as economic indicators highlighted a broad-based improvement in activity.

Fixed Income Focus: October 2014

The quantitative easing baton is being passed from the US Federal Reserve to the European Central Bank, but there are many complications that get in the way of a smooth transfer.

August 2014

Multi Manager Growth Trust: July 2014

The fund outperformed the IMA Flexible Investment sector, placing it within the top decile over the month and three months to the end of July.

Multi Manager Balanced Trust: July 2014

The fund outperformed the IMA Mixed Investment 40-85% Shares sector, placing it within the top decile over the month and three months to the end of July.

Multi Manager Income Trust: July 2014

The fund outperformed the IMA Mixed Investment 20-60% Shares sector, placing it within the top decile over the month and three months to the end of July.

UK Equity Income Update: August 2014

Entering 2014 expectations were high that the UK stock-market would build on the gains of the previous 18 months and the outperformance of equities against bonds could continue. However to date the year has developed very differently, with the second quarter of 2014 proving to be one of the most challenging periods for equity investors for some time.

Mixed Investment 0-35 Fund: July 2014

With the Federal Reserve’s programme of asset purchases due to finish in October, easy liquidity is coming to an end and there is clearly nervousness about the implications for risky asset classes.

Mixed Investment 20-60 Fund: July 2014

The Fund was established at end of June 2014, making July the first month of performance. In July equity markets became increasingly volatile particularly as the month drew to a close and international equities posted a modest loss.

Mixed Investment 40-85 Fund: July 2014

Although the month began on an encouraging note, equity markets became increasingly volatile as the month drew to a close and international equities posted a modest loss over July.

Multi Index Fund 3: July 2014

Data released in July showed that the UK economy has finally passed its pre-financial-crisis level, with second quarter growth of 0.8% and annual growth of 3.1%.

Multi Index Fund 4: July 2014

Data released in July showed that the UK economy has finally passed its pre-financial-crisis level, with second quarter growth of 0.8% and annual growth of 3.1%.

Multi Index Fund 5: July 2014

Data released in July showed that the UK economy has finally passed its pre-financial-crisis level, with second quarter growth of 0.8% and annual growth of 3.1%.

Multi Index Fund 6: July 2014

Data released in July showed that the UK economy has finally passed its pre-financial-crisis level, with second quarter growth of 0.8% and annual growth of 3.1%.

Multi Index Fund 7: July 2014

Data released in July showed that the UK economy has finally passed its pre-financial-crisis level, with second quarter growth of 0.8% and annual growth of 3.1%.

Fixed Income Focus: Bond market bubble? More like a central bank bubble

As US quantitative easing draws to a close, there is increasing nervousness that the bond market bubble may be about to burst. But the market’s high prices and low yields are not just a problem for bonds, they are a symptom of broader problems created by central bank policy.

UK Property Fund: July 2014

Total returns in the IPD Monthly index were 1.6% for July demonstrating continued strength in the market.

Growth Trust: July 2014

Overall UK equities moved lower in July as rising geopolitical tensions more than offset the effect of the latest batch of firm UK economic data.

European Trust: July 2014

European indices fell in July following a series of negative news flow.

Dynamic Bond Trust: July 2014

Despite further signs of the global economy’s fundamental health, rising geopolitical tensions saw high quality government bond yields fall while lower quality credit yields rose.

Asian Income Trust: July 2014

July was a strong month for Asian equity markets. The FTSE All World Asia Pacific ex Japan Index was buoyed by positive news flows.

UK Active Opportunities Trust: July 2014

Overall UK equities moved lower in July as rising geopolitical tensions more than offset the effect of the latest batch of firm UK economic data.

UK Alpha Trust: July 2014

Overall UK equities moved lower in July as rising geopolitical tensions more than offset the effect of the latest batch of firm UK economic data.

UK Equity Income: July 2014

The FTSE All Share’s modest -0.3% negative return masked the true nature of what was occurring in UK equity markets over July.

UK Special Situations Trust: July 2014

Overall UK equities moved lower in July as rising geopolitical tensions more than offset the effect of the latest batch of firm UK economic data.

All Stocks Gilt Index Trust: July 2014

Gilt prices rose slightly over July with ‘safe haven’ buying as Ukraine-related tensions escalated, offsetting the latest round of robust UK economic data.

All Stocks Index Linked Gilt Index Trust: July 2014

Gilt yields drifted marginally lower over the month.

European Index Trust: July 2014

July was a difficult month for European equity markets, which underperformed other regions.

Global 100 Index Trust: July 2014

Although the month began on an encouraging note, markets became increasingly volatile as the month drew to a close and international equities posted a modest loss over July.

Global Emerging Markets Index Fund: July 2014

Emerging-market equities gained ground last month, continuing their recent outperformance of developed markets as investor confidence was bolstered by news that the further signs of stabilisation in the Chinese economy.

Global Health And Pharmaceuticals Index Trust: July 2014

Global healthcare shares ended the month largely unchanged, performing broadly in line with wider world stock markets as early gains were subsequently lost amid rising geopolitical tensions related to the Ukraine crisis and the conflict in Gaza.

Global Technology Index Trust: July 2014

Encouraging corporate newsflow helped global technology shares to extend their strong run into July, with the sector outperforming the largely flat returns from global equity markets amid rising tensions in Ukraine and conflict in the Middle East.

International Index Trust: July 2014

Although the month began on an encouraging note, markets became increasingly volatile as the month drew to a close and international equities posted a modest loss over July.

Japan Index Trust: July 2014

Japanese stocks outperformed other major markets in July, as a series of encouraging earnings announcements pushed the Nikkei Average to its highest level since January.

Pacific Index Trust: July 2014

The rally in Pacific stock markets continued in July with the FTSE World Asia Pacific ex Japan Index returning 3.4% in local currency terms, translating into a return of 3.8% in sterling.

UK 100 Index Trust: July 2014.

Despite an encouraging start to July, UK equities became increasingly volatile and recorded a second successive month of losses, with the FTSE 100 Index returning -0.1%.

UK Index Trust: July 2014

Despite an encouraging start to July, UK equities became increasingly volatile and recorded a second successive month of losses, with the FTSE All-Share Index returning down 0.3%.

US Index Trust: July 2014

After advancing to a new record high, US equities ended July on the back foot.

High Income Trust: July 2014

Following the Malaysia Airlines tragedy, ongoing Middle East conflict and some high yield redemptions in response to cautious comments from Federal Reserve chair Janet Yellen, ‘safe haven’ buying pushed gilt yields lower.

Fixed Interest Trust: July 2014

During the month of July, the 10 year gilt yield fell from 2.82% to 2.72%.

Sterling Income Fund: July 2014

During the month of July, the 10 year gilt yield fell from 2.82% to 2.72%.

Managed Monthly Income Trust: July 2014

During the month of July, the 10 year gilt yield fell from 2.82% to 2.72%.

Navigating uncharted waters

Running a risk-targeted portfolio is a balancing act between the tried-and-tested long-term relationships between asset classes and making adjustments for the short-term risks that the market always throws at investors.

Multi Manager Income Trust: June 2014

During June the Multi Manager Income Trust returned 0.73% against a return of -0.39% for its IMA sector median. (Source: Lipper, total return net of fees, R class Acc units, from 31 May 2014 to 30 June 2014).

Multi Manager Balanced Trust: June 2014

During June the Multi Manager Balanced Trust returned 0.91% against a return of -0.68% for its IMA sector median. (Source: Lipper, total return net of fees, R class Acc units, from 31 May 2014 to 30 June 2014).

Multi Manager Growth Trust: June 2014

During June the Multi Manager Growth Trust returned 1.21% against a return of -0.56% for its IMA sector median. (Source: Lipper, total return net of fees, R class Acc units, from 31 May 2014 to 30 June 2014).

Fixed Income Focus: Europe's simmering crisis

In the summer of 2012, European Central Bank (ECB) President Draghi promised to do ‘whatever it takes’ to preserve the euro. This triggered a rally in peripheral European credit risk. But apart from lower funding levels for stressed countries, it’s hard to see which problems have actually been solved.

Macro insight

October 2014

Macro Matters: Keep Calm and Carry On

The rainy weather in London in the last few weeks has matched the mood of investors; sentiment about the global economy has progressively deteriorated.

Asset Allocation: October 2014

September was a weak month for risk assets, with the downturn generally concentrated in the final days of the month.

September 2014

Macro Snapshot - Divergence

With market participants back from their summer breaks, attention is increasingly turning to central bank policy. 

Asset Allocation: September 2014

August is often a relatively quiet month for investment markets, but many markets produced strong returns last month.

August 2014

Asset Allocation: August 2014

After a prolonged period of benign market volatility, there was a notable spike in risk aversion in the final days of July. 

Views and insights

October 2014

Fixed Income Focus: A very short rate hiking cycle

This year’s hot topic has been the future rate hiking cycle but, in the meantime, economic data has disappointed and yields have fallen.

Equity Insight: Reassessing Europe

Europe has reappeared on investors’ radar screens over the last month, but for all the wrong reasons.

September 2014

Equity Insight: QE divergence

There is growing excitement about the European Central Bank (ECB) potentially getting into the quantitative easing (QE) game.

Fixed Income Focus: October 2014

The quantitative easing baton is being passed from the US Federal Reserve to the European Central Bank, but there are many complications that get in the way of a smooth transfer.

The inflation conundrum

The rate of inflation matters because it is effectively the drag that is applied to investment returns.

August 2014

Fixed Income Focus: Bond market bubble? More like a central bank bubble

As US quantitative easing draws to a close, there is increasing nervousness that the bond market bubble may be about to burst. But the market’s high prices and low yields are not just a problem for bonds, they are a symptom of broader problems created by central bank policy.

Equity Insight: Rate normalisation

There is a heated debate amongst economists and bond investors about what the neutral rate of interest will be in this post-financial crisis world: around 2% because economies are stuck in secular stagnation or closer to 4% as growth and inflation will return to previous averages? From an equity investor’s perspective, one could be forgiven for asking, who cares?

Fixed Income Focus: Europe's simmering crisis

In the summer of 2012, European Central Bank (ECB) President Draghi promised to do ‘whatever it takes’ to preserve the euro. This triggered a rally in peripheral European credit risk. But apart from lower funding levels for stressed countries, it’s hard to see which problems have actually been solved.

Economic views

Search funds

Search Funds