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Legal & General UK Mid Cap Index Class C - Income (GBP)

Sell:59.66p Buy:59.66p Change: 0.19p (0.32%)
Prices as at 6 December 2021
Change: 0.19p (0.32%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 6 December 2021
Change: 0.19p (0.32%)
Prices as at 6 December 2021
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This fund invests in all the stocks from the FTSE 250 index of medium-sized small UK companies, except investment trusts. Smaller businesses are more domestically focused and have more room for growth than those from the FTSE 100, though they add greater risk. By excluding investment trusts from the portfolio, we think it offers a purer exposure to UK businesses than a broader FTSE 250 index tracker. We think this fund could be a good addition to a broader investment portfolio aiming to deliver long-term growth. It could also be a good addition to a portfolio of other tracker funds. The fund's 0.08% ongoing annual charge makes it one of the cheapest FTSE 250 trackers available but without compromising on quality.

Our view on the sector

The UK stock market is home to lots of world-class companies. From international giants to a diverse array of smaller businesses. This provides a rich hunting ground for fund managers in this sector. They all try to grow investors' money over the long term, but each goes about it in a different way. Some focus on larger companies in the FTSE 100 index, others invest in medium-sized or smaller companies, and some have the flexibility to invest in any company, regardless of size. Some aim to match or deliver a return similar to the broader UK stock market. Others have the freedom to try and make as much money as possible for investors and take more risks. That could mean investing in only a small number of companies, for instance. A fund that invests in UK shares is normally the first port of call for UK-based investors. But with such a variety on offer, investors should make sure a fund is right for their circumstances before investing.

Performance Analysis

The fund's tracked the FTSE 250 excluding investment trusts closely since launch. A big part of this is down to the fund's low charges. As with all tracker funds though, performance will almost always be slightly behind the index due to the charges. Given Legal & General's size, experience and expertise running index tracker funds, we expect the fund to continue to track the index well in future, though there are no guarantees. Like all funds, it can fall as well as rise in value so investors could make a loss.

Investment Philosophy

Tracker funds are one of the simplest ways to invest. They aim to match the performance of an index, rather than beat it. This means they don't need analysts to research individual companies, which keeps costs to a minimum. If the fund's costs are low, it's likely to track the index more closely.

Process and Portfolio Construction

Legal & General is one of the most conservative tracker fund managers. The fund invests in every company in the FTSE 250 ex. Investment Trusts Index. This is called full replication and gives it the best chance of tracking the index precisely. The team at Legal & General may use derivatives to help with portfolio management, but it adds risk to the fund. Legal & General has become synonymous with passive funds. It has around £400bn invested in this part of the business, allowing them to offer a wide range of index-tracking options. It has also built a team of experienced index tracker fund specialists.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

06/12/16 to 06/12/17 06/12/17 to 06/12/18 06/12/18 to 06/12/19 06/12/19 to 06/12/20 06/12/20 to 06/12/21
Annual return n/a -5.51% 14.77% -5.57% 17.68%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Information about the fund

Fund manager biography

manager photo
Manager Name: LGIM Index Fund Management Team
Manager start date: 30 September 2013
Manager located in: London

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 ears has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account