Member Info for Phyl

For those that haven't as yet had the chance to read today's RNS, it is a deep de⁴lve into it's Retail business and a number of interesting updates. My impression is one of much positivity over the years ahead underlining it's reputation for being a quietly strong and robust business. Just as well, as I've got quite a bit invested here in terms of anticipated dividends to fund my hopefully, long retirement!

After yesterday's higher than expected SP increase, we're seeing the inevitable pull-back today... well, that's LGEN for you!

High volatility continues to impact markets with financials arguably the most affected today. Barclays are down circa 5% at the time of writing. This is all due to a couple of US banks reporting bad debt issues. This has caused a ripple/tsunami or whatever you want to call it today. Not helped by the underlying volatility attached to over-egged valuations and credit debt (private & government) narrative.

Anyway, some, like me, see this as a buying opportunity. Others may want to see how it all pans out over the next week or two.

Keeping the faith here with LGEN.

Hi Phyl, it's about time you retired now mate, I think most of us agree this is one of the most reliable income source for topping up the state pension, and hopefully it will continue to be so

Evening Robleo, how are you buddy?

Guess what? I retired 3 weeks ago and pleased to be out of the rat race!I'm currently in the process of selling a number of trusts, funds & other equities (not including LGEN of course) in favour of some other dividend biased investments. A couple of which I know you have in your own portfolio. I'll keep you updated mate.

FYI, Interactive Investor have written an interesting piece on the prospects of LGEN, MNG and PHNX. All very much favourable. They expect LGEN's share price to grow toward the £2.89 mark. Hope they're right!

Hi aspers, I've just read your post... welcome aboard the LGEN dividend train. Hope your investment proves fruitful for you. I note that you mentioned you were seeking out high-level dividends for your portfolio. May I ask if that's due to you being retired or nearing retirement? FYI, there are a number of likewise members on this board including, of course, myself.

Further to my previous post yrsterday, it has now come to light the volatility caused by the US and China tarrif spat! Next week likely to be as volatile as this one no doubt!

Morning Stuartrm, thanks for your response. This is a very quiet board. Yes, shortly after I posted I learned very quickly the politics being played between US & China. It has impacted markets just about everywhere and particularly relating to China itself. I'm also invested in JPM China Growth & Income and this trust fell over 4% yesterday. WWH, up until that point were showing positive signs. Let's see how next week plays out but likely to be as volatile as ever!

Good weekend one & all.

Well, I thought we had some momentum here until the drop today right at the end before the bell. I've no idea why. Goodness gracious me this, like JPM China Growth ( or should I say decline) this trust is hard work!

I've been a relatively long term holder here, but it's up there with the worst performing trusts I've owned. I'm circa 39% down. There has been momentum recently which gave me some hope for the future then, out of nowhere, a 4%+ drop. THAT'S QUITE A BIG DROP when unexpected. Anybody else got any thoughts?

Some rather large buys today!

Hey RoJo, how are you?

I agree, much improving sector based I think on greater stability and long may it continue. I'm around 3.5% down but I continue to live in hope the momentum continues! It would be great if it does!

"Once a FTSE 100 dividend hits 6.00% it is always at risk, Vodafone is a classic example of a Dividend trap. JAO Adyor."

LGEN have been paying divis far in excess of the FTSE average for years and certainly in excess of 6%.... take from that what you will.

Hi David Brent, hope this helps...

Legal & General dividend reinvestments are calculated when your cash dividends are automatically used to buy more ordinary shares in the company through a special arrangement, a process often referred to as a Dividend Reinvestment Plan (DRIP). The exact number of shares you receive is based on the total value of your dividend payment and the prevailing share price at the time of purchase, with the new shares then added to your existing holding.

Sometimes I feel like we're caught between a rock and a hard place when we automatically set to reinvest dividends. On one hand you want the share price to be as low as possible to maximise any additional shares to tlyour portfolio but on the other hand, you want the SP high as to not negatively impact your existing portfolio performance.

Hopefully, we'll buy reinvest low and we'll see a share price recovery at the same time, witness the shorters getting their fingers burned!

Morning all,

Thanks for all that offered their advice. Very much appreciated. Meconopsis, thanks in particular for your contribution. The point you make regarding reinvesting 5%-10% of divis in additional pops to help mitigate/stay ahead of inflation is a really good one and a recommendation that I'll be following.

In the meantime, and as I write, I see the SP has fallen 4.15p. As I've reinvested the total dividend I'll be hoping it stays this way!

NB: it's looking like a reasonable market day for insurers today.

As we approach yet another ex-divi day, I always spare a thought to my strategy with LGEN. Even more so now that I am fast approaching state pension age. (Aug 2026) Over the years, I've tended to re-invest my dividends to purchase more shares. At one point, my average was £2.42 and now, £1.96. After adding more in September when the additional shares are added, it will be slightly less. Brings me to the point of the "power of compounding ". Not only does this strategy help reduce the cost per pop, but it does so by accumulating additional shares. I'll be reinvesting this forthcoming dividend payment as I will next May's. Thereafter, I'll be taking the proceeds as additional tax free income to help supplement my retirement. I'm not a wealthy man by any stretch of the imagination and the £7k of supplementary income will help pay for annual holidays if nothing else. Praise then to LGEN.

I do read many a post on here. Many positive but a fair few negative ones. That's their call. What I would say, is that maybe you haven't set your strategy as well as you could or you've bought LGEN going in blind. LGEN is a high yielding stock that might change over the coming years as Antonio Simoes and Co decide on its own strategy. It very much looks like share price growth going forward is ordervof the day. Nevertheless, those that are in now are likely to see capital growth at some point while, at the same time, lock-in a high yield. What's not to like. Yes, there are caveats. The board might stop dividend payments however unlikely. There could always be another pandemic or geopolitical or other catastrophe. As I've come to learn, tou can't go through life without some element of risk.

There's also been much talk around the triple lock. If, like me, you're on the wrong side of sixty, the Triple Lock is a godsend. But it's even more a godsend if you're in your 50's or 40's. Why?. The power of compounding. The higher the state pension now, the higher it'll get as those in their 50's and 40's will stand to benefit. In fact, we should all want the triple lock to stay in place. (Provided of course, the government of the day keeps it going) Unlikely it won't.

The benefit of compounding. Quite possibly the 8th wonder of the world.

FYI...

L&G had absorbed Federated Hermes property fund into a £4.7bn strategy

The Hermes Property Unit Trust, which has suffered losses of more than 20% over three years, is being absorbed by L&G Managed Property.

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John Schaffer

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Legal & General (L&G) and Federated Hermes have merged two open-ended physical property funds, creating a now £4.7bn strategy.

The £925m Hermes Property Unit Trust will be absorbed by the L&G Managed Property fund, which had assets of more than £3.8bn at the end of June.

A substantial portion of the Hermes fund’s holdings will be transferred to the L&G fund. All unitholders of the Hermes property fund will either have their holdings transferred or be offered a liquid exit. The move comes after a sustained period of underperformance for the fund.

The strategies are two of the longest running UK open-ended property funds, with the Hermes strategy being established in 1967 and the L&G fund starting in 1971.

A statement said that Hermes unitholders had overwhelmingly voted in favour of the merger.

L&G Managed Property invests in a range of UK physical property assets across areas including industrial facilities, retail warehouses, offices and residential properties.

Over three years to the end of June the L&G fund lost 3.2%, although this was milder than the losses of its MSCI/AREF UK Quarterly All Balanced PFI benchmark, which was down 4.1% over the same period.

However, there has been an uptick in performance more recently, with 12-month returns amounting to 6.9%.

The Hermes property fund has suffered more severe negative performance, with cumulative NAV losses amounting to 23.8% over three years, according to Morningstar data.

Michael Barrie, head of real estate for UK & Europe at L&G, said bringing together the two funds marked a ‘significant step’ for the asset manager to strengthen its market position.

‘It reinforces the collaborative approach that underpins L&G’s private market platform growth, our credibility as a partner of choice for consolidation opportunities and our abilities to execute innovative solutions,’ he added.

The commercial terms involved in the transaction are unclear.

Tough time for sector

Open-ended property funds have been under pressure for several years, with numerous funds being closed or gated for extended periods.

In November St James’s Place announced that it was winding down all of its open-ended property mandates, worth nearly £1.8bn.

Regulatory changes have added further pressure to this part of the market. In 2020 the FCA floated the idea of three-to-six-month notice periods being implemented for these types of funds, but no formal decision has been made yet.

The potential change in regulation prompted L&G to change the focus on another vehicle, the £1.2bn L&G Property fund. That strategy is now aiming to have 45% assigned to an index portfolio of global Reits an

"JP MORGAN ' RE-RATING

Up to their old tricks again I see.

As a reminder, the directors of Legal & General Group Plc declared an interim dividend of 6.12 pence per ordinary share. This dividend will be paid on 26 September 2025. It will be accounted for as an appropriation of retained earnings in the year ended 31 December 2025 and is not included as a liability in the Consolidated Balance Sheet as at 30 June 2025.

Ex-dividend date (2025 interim dividend) is on 21 August 2025 with Record date is on 22 August 2025.

Robleo/Alas _Smith, I just want to take this opportunity to say a BIG thank you for both your insightful responses. I'll let you know my strategy in due course.

There are some good people on this board.

Hey Robleo, how are you?

I quite agree, spreading the risk is a safer strategy. The recent posts on this matter have brought me to review my investments particularly within my ISA. Due to constant dividend reinvestment, my holdings in LGEN are probably a little top heavy if truth be told. (I've been building my holding in LGEN for a number of years to help support my forthcoming retirement by way of tax-free dividends) I'd be interested to learn if any of your other investments include dividend payers?

Yes, down 5.5% as I write. Probably due to President Trump saying he's going to slash prescription charges in the US. That won't go down well in the Healthcare sector I wouldn't have thought.