Sell:55.70p Buy:55.70p Change: 
0.03p (0.05%)
Prices as at 7 March 2024
Sell:55.70p
Buy:55.70p
Change: 0.03p (0.05%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
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Prices as at 7 March 2024
Sell:55.70p
Buy:55.70p
Change: 0.03p (0.05%)
Prices as at 7 March 2024
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
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.
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Also available asaccumulation units 
Income and accumulation units
With income units, any income is paid as cash. This can be withdrawn, reinvested or simply held on your account. With accumulation units any income is retained within the fund; the number of units remains the same but the price of each unit increases by the amount of income generated within the fund. Generally accumulation units offer a slightly more efficient way to reinvest income, although many investors will choose to hold income units and reinvest the income to buy extra units.
Charges and Savings
| Initial charges | |
|---|---|
| Initial charge: | 0.00% |
| Initial saving from HL: | 0.00% |
| HL dealing charge: | Free |
| Net initial charge: | 0.00% |
How initial savings affect the buy price
The initial saving applied to a fund depends on how it is priced. Dual priced funds have two different prices (a sell price and a buy price); single priced funds have a single price (at which the fund can be bought and sold).
For dual priced funds the difference between the buy and sell price is made up of the initial charge and other costs e.g. the fund manager's dealing costs. The 'initial saving from HL' will reduce the buying price, but even with a full discount the buying price may still be higher than the selling price.
For single priced funds the price quoted does not include the 'initial charge'. Any 'initial charge' after deduction of the 'initial saving from HL' will be added to the price quoted.
Please note that even where a full saving is offered a dilution levy could be applied on the way in or out of the fund.
For full details please see the HL guide to fund prices, savings and yields. ×
| Annual charges | |||
|---|---|---|---|
| Performance fee: | No | ||
| Ongoing charge (OCF/TER): | 0.78% | ||
| Ongoing saving from HL: | 0.00% | ||
| Net ongoing charge: | 0.78% | ||
| There are other unit types of this fund available: | |||
| |||
HMRC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held in nominee accounts, such as our Fund & Share Account, should be subject to income tax. Loyalty bonuses paid on funds in ISAs and SIPPs are unaffected, and they remain tax-free.
We believe all loyalty bonuses are tax-free and we are challenging HMRC's interpretation. However, while we make this challenge we are paying loyalty bonuses within the Vantage Fund & Share Account net of an amount equivalent to the basic rate tax. If we are successful in our challenge we will return this money to clients. If we are unsuccessful we will use the money to pay over any amounts due to HMRC.
If loyalty bonuses are taxable then the value of our ongoing saving to you could be reduced, depending on the rate of tax you pay. The below table gives an indication of how this may affect you.
In this case, the ongoing saving is 0.00%, of which 0.00% is paid by loyalty bonus. The tax that could be payable on this loyalty bonus, and therefore the value of this saving to you, is shown below.
| Non-taxpayer | Basic rate taxpayer | Higher rate taxpayer | Additional rate taxpayer | |
|---|---|---|---|---|
| Ongoing saving from HL: | 0.00% | 0.00% | 0.00% | 0.00% |
| Loyalty bonus: | 0.00% | 0.00% | 0.00% | 0.00% |
| Tax on loyalty bonus: | 0.00% | 0.00% | 0.00% | 0.00% |
| Value of ongoing saving to you: | 0.00% | 0.00% | 0.00% | 0.00% |
Tax rules can change and benefits depend on individual circ*mstances. Please remember loyalty bonuses received on funds held in the Vantage ISA or Vantage SIPP are exempt from tax.
Also, loyalty bonuses received by overseas investors, companies and charities are not required to be paid with the deduction of tax. Therefore, if you are an overseas investor, or you represent a company or charity please let us know if you would like your loyalty bonuses paid without the deduction of an amount equivalent to the basic rate tax.
In some cases the ongoing savings are provided by our loyalty bonus. Loyalty bonuses are tax-free in an ISA or SIPP. However, they may be subject to tax in a Fund & Share Account which would, in effect, reduce their value and increase the net ongoing charge.
HL Guide to fund prices, savings and yields
Other Information
| Unit type: | Unbundled |
|---|---|
| Manager: | Stephen Message Stephen Message |
| Fund launch date: | 31 March 2011 |
| Sector: | UK Equity Income |
| Fund size: | £179 million |
| Number of holdings: | 48 |
| Fund type: | Unit Trust |
| Accumulation/income: | Income |
| Dealing frequency: | Daily |
| Valuation point: | 12:00 |
| Trustee: | The Northern Trust Company |
| Minimum investment: | £100.00 |
| Charges deducted from: | n/a |
| Available in a regular savings plan: | Yes |
| Minimum regular savings value: | £25.00 |
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Performance
| 07/03/19 to 07/03/20 | 07/03/20 to 07/03/21 | 07/03/21 to 07/03/22 | 07/03/22 to 07/03/23 | 07/03/23 to 07/03/24 | |
|---|---|---|---|---|---|
| Annual return | -12.53% | 11.94% | 3.74% | 17.73% | -2.46% |
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.
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Our view on this fund
The Wealth Shortlist features funds our analysts believe have the potential to outperform their peers over the long term. If a fund is not on the Shortlist, this is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »
Fund Objective
The objective of this fund is to provide an income in excess of the yield represented by the performance of the FTSE All-Share Index, and long-term growth. The Index consists of a broad spread of UK company shares. The fund will typically invest between 80% and 100% in UK company shares, or in shares of overseas companies which have a significant part of their activities in the UK or whose shares are traded on UK stock markets. The fund may use derivatives to reduce risk or cost, or to generate additional capital or income with no, or an acceptably low, level of risk. The fund may also use derivatives for investment purposes to enhance performance. The fund may also invest in bonds, cash, deposits, money market instruments or other authorised investment funds. The deposits and money market instruments will be repayable by the issuer within one year.
Income Details
| Historic yield : | 4.50% |
|---|---|
| Income paid: | Quarterly |
| Type of payment: | Dividend |
| Ex-dividend date: | 24 January 2024 24 April 2024 24 July 2024 24 October 2024 |
| Payment date: | 24 March 20244 24 June 20244 24 September 20244 24 December 20244 |
This data is provided by Broadridge. HL accepts no responsibility for its accuracy and you should independently check data before making any investment decision. All yields are variable and not guaranteed. Information correct as at 31 January 2024.
- HoldingsTop 10 holdings
- SectorsTop 10 sectors
- CountriesTop 10 countries
| Security | Weight |
|---|---|
| BP | 6.83% |
| SHELL | 6.33% |
| BAE SYSTEMS | 5.19% |
| GSK | 4.86% |
| RIO TINTO | 4.29% |
| TESCO | 3.72% |
| ASTRAZENECA | 3.68% |
| UNILEVER | 3.65% |
| BARCLAYS | 3.02% |
| LLOYDS BANKING GROUP | 2.68% |
| Sector | Weight |
|---|---|
| Non-Renewable Energy | 14.06% |
| Banks | 9.88% |
| Pharmaceuticals & Biotechnology | 9.85% |
| Personal Care, Drug & Grocery Stores | 8.45% |
| Industrial Metals & Mining | 8.03% |
| Aerospace & Defence | 7.83% |
| Real Estate Investment Trusts | 5.16% |
| Retailers | 4.23% |
| Tobacco | 3.59% |
| Media | 3.43% |
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.Prices provided by Morningstar, correct as at 7 March 2024. Data provided by Broadridge, correct as at 31 January 2024.
Key facts
| Stephen Message | |
| Manager start date | 01/08/2014 |
| Manager located in | London |
Biography
Stephen joined LGIM in 2017 as a Fund Manager for the UK Equity Income portfolios. He has been managing the UK Equity Income Trust since November 2017. Stephen joined from Old Mutual where he was responsible for the management of the Old Mutual UK Equity Income fund from 2009 until 2016. Prior to that, he was a Fund Manager at Bessemer Trust from 2006 until 2008. Stephen graduated from Imperial College London with a MEng in Aeronautical Engineering. He is also a CFA charterholder.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
4 If you elect to receive the income from a Vantage ISA or Vantage Fund & Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.
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