Legal&General GlobalTechnologyIndexTrust InterimManager

Legal & GeneralGlobal Technology Index Trust

Interim Manager’s Reportfor the period ended10 February 2011(Unaudited)

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Page Number

Manager’s Investment Report 2

Authorised Status 5

Directors’ Statement 5

Portfolio Statement 6

Statement of Total Return 11

Statement of Change in Net Assetsattributable to Unitholders 11

Balance Sheet 12

Notes to the Financial Statements 13

Trust Facts 14

Performance Record 15

General Information 17

Contents

2

Investment Objective and PolicyThe investment objective of this Trust is to secure capitalgrowth from a portfolio of securities of companies engaged inInformation Technology.

Securities representing all such companies in theFTSE All-World Index will be held with weightings generallyproportionate to their market capitalisation.

From time to time non index constituents may be held as aresult of a corporate action and these holdings will be sold ortransferred as soon as reasonably practical.

Manager’s Investment ReportDuring the period under review, the bid price of the Trust’sR-Class accumulation units rose by 18.0%.

FTSE, the Index compiler, calculates the benchmark Index at theend of the business day using closing prices, whereas the Trustis valued at 3pm. Therefore, for tracking purposes the Trust hasbeen revalued at closing prices. On this basis, the underlyingportfolio increased by 18.5%, matching the benchmark returnover the period (Source: Datastream).

Past performance is not a guide to future performance.

The value of investments and income from them may go downas well as up.

Exchange rate changes may cause the value of any overseasinvestments to rise or fall.

The FTSE All-World Index is calculated by FTSE International Limited(“FTSE”). FTSE does not sponsor, endorse or promote this product.

All copyright in the Index values and constituent list belongs toFTSE. Legal & General has obtained full licence from FTSE to usesuch copyright in the creation of this product.

“FTSE™”, “FT-SE®” and “Footsie®” are trade marks of the LondonStock Exchange Plc and The Financial Times Limited and areused by FTSE International Limited (“FTSE”) under licence.

Market/Economic ReviewDuring the review period, technology stocks have outperformedthe broader market. Most sectors within Technology have beenstrong; the lagging sector has been TelecommunicationsEquipment, as industry leader Cisco Systems posted a weakearnings report and issued cautious guidance. Other companieswithin the space have posted strong earnings, indicative of ahealthy Information Technology (IT) spending environment andthe ability to take market share from Cisco Systems. The bestperforming sector over the review period has been ComputerHardware. Within this group,Apple has continued to be a verystrong performer; earnings estimates are being revisedsignificantly higher due to the strong demand across all itsproduct lines.

Manager’s Investment Report

Trust ReviewAt the end of the review period, there were 116 companies inthe FTSE All-World Index classified as Technology Hardware &Equipment and a further 58 companies classified underSoftware & Computer Services. These sectors accounted forapproximately 62.0% and 38.0% of the portfolio by marketvalue, respectively. In aggregate, they represented 10.5% of themarket capitalisation of the FTSE All-World Index.

The 10 largest holdings, the largest quoted technologycompanies in the world, were:AppleMicrosoftIBMOracleGoogleSamsung ElectronicsIntelHewlett-PackardCisco SystemsQualcomm

Amongst these companies, which account for 53.3% of thevalue of the portfolio, only Samsung Electronics (South Korea) isbased outside the USA.

The three largest countries by market value in the portfoliowere USA (73.4%),Taiwan (6.5%) and Japan (5.3%).

At the September 2010 quarterly Index review, ARM Holdingswas the only addition to the Index, whilst three Japanesecompanies,Axell Corporation, Sumisho Computer SystemsCorporation and Renesas Electronics Corporation were deleted.

At the December 2010 Index review, eight US constituents wereadded to the Index. The three largest were F5 Networks,VMware and CREE. There were no deletions.

Outside the Index reviews, in the US,Avago Technologiesincreased its weight in the Index following a sale of a stake bylong-term investors. Also in the US, Motorola Mobility Holdingswas added to the Index as a result of its demerger fromMotorola Solutions. MStar Semiconductor raisedTWD 8.4 billion in Taiwan’s largest initial public offering of2010, and was subsequently added to the Index.

During the period under review, there were decreases in weightfor Hewlett-Packard, Microsoft, Cisco Systems and IBM as aresult of continued share buy-back schemes.

Manager’s Investment Report continued

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Manager’s Investment Report continued

OutlookDuring the review period, the Technology sector outperformedthe broader market and we believe that further outperformancecould be seen. The sector possesses many of the fundamentalattributes associated with long-term leadership. IT companieshave very strong balance sheets, are aggressively returning cashto shareholders via dividends and share repurchases and areposting strong earnings growth. In addition, valuations remainattractive. The Technology sector is well positioned for thecyclical economic recovery. Merger and acquisition has been afeature within the industry and this is expected to continue.

The Trust remains well placed to capture exposure to theTechnology sector.

Legal & General Investment Management Limited(Investment Adviser)3 March 2011

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Authorised StatusThis Trust is an Authorised Unit Trust Scheme as defined insection 243 of the Financial Services and Markets Act 2000and is a UCITS Retail Scheme within the meaning of theFSA Collective Investment Schemes sourcebook.

Directors’ StatementWe hereby certify that this Manager’s Report has been preparedin accordance with the requirements of the FSA CollectiveInvestment Schemes sourcebook.

M. B. Boardman S. D.Thomas(Director) (Director)

Legal & General (Unit Trust Managers) Limited25 March 2011

Authorised Status

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Portfolio Statement as at 10 February 2011All investments are in ordinary shares unless otherwise stated.The percentages in brackets show the equivalent countryholdings at 10 August 2010.

UNITED KINGDOM — 1.07%(0.71%)

15,900 ARM Holdings 93,572 0.412,809 Autonomy 45,085 0.199,500 Invensys 31,759 0.1419,450 LogicaCMG 27,425 0.1216,500 Sage Group 47,487 0.21

245,328 1.07

NORTH AMERICA — 74.53%(74.37%)

Canada — 0.24% (0.18%)2,800 CGI Group (A) 34,932 0.15500 Research in Motion 19,765 0.09

54,697 0.24

Cayman Islands — 0.88% (0.91%)17,500 Alibaba.com 21,902 0.1026,000 Foxconn International Holdings 11,277 0.0511,200 Tencent Holdings 167,691 0.73

200,870 0.88

United States — 73.41% (73.28%)6,200 Adobe Systems 127,061 0.568,386 Advanced Micro Devices 42,233 0.182,323 Akamai Technologies 58,423 0.263,800 Altera 95,426 0.422,530 Amdocs 45,935 0.203,587 Analog Devices 88,177 0.391,400 AOL 17,522 0.0811,070 Apple 2,461,495 10.7516,200 Applied Materials 158,930 0.692,800 Autodesk 73,106 0.322,200 BMC Software 66,477 0.295,550 Broadcom 149,404 0.654,740 CA Inc. 73,180 0.321,000 Cerner 60,745 0.272,500 Checkpoint Software

Technologies 76,337 0.3367,460 Cisco Systems 811,925 3.552,300 Citrix Systems 94,127 0.413,700 Cognizant Technology Solutions 170,379 0.741,900 Computer Sciences 56,311 0.252,700 Compuware 18,444 0.0818,830 Corning 261,019 1.141,300 CREE 41,575 0.1823,800 Dell 204,564 0.89

800 Diebold 16,111 0.07600 DST Systems 18,583 0.08

24,890 EMC 411,731 1.801,000 F5 Networks 78,035 0.342,881 Google 1,100,002 4.81

Portfolio Statement

Holding/ Market % ofNominal Value NetValue Investment £ Assets

United States — (cont.)1,550 Harris 47,136 0.2126,575 Hewlett-Packard 812,621 3.551,000 IAC/InterActiveCorp 19,409 0.0814,965 IBM 1,529,892 6.6867,450 Intel 901,772 3.943,800 Intuit 116,316 0.516,250 Juniper Networks 158,159 0.692,000 KLA-Tencor 56,619 0.251,500 Lam Research 49,589 0.222,650 Linear Technology 57,612 0.257,409 LSI Logic 29,093 0.137,800 Marvell Technology Group 94,802 0.413,600 Maxim Integrated Products 57,599 0.251,900 Mcafee 56,725 0.252,700 MEMC Electronic Materials 22,416 0.102,300 Microchip Technology 52,870 0.2312,100 Micron Technology 84,091 0.37103,283 Microsoft 1,758,721 7.683,437 Motorola Mobility Holdings 63,924 0.284,128 Motorola Solutions 100,550 0.442,900 National Semiconductor 27,565 0.121,900 NCR 22,335 0.104,300 NetApp 159,173 0.701,100 Novellus Systems 26,437 0.126,995 Nvidia 99,623 0.4460,350 Oracle 1,229,268 5.372,300 Pitney Bowes 35,868 0.1619,450 Qualcomm 680,095 2.971,700 Red Hat 46,728 0.205,860 Research In Motion 231,529 1.011,300 Rovi 51,225 0.224,500 SAIC 46,840 0.201,125 Salesforce.com 93,659 0.412,800 Sandisk 86,318 0.389,451 Symantec 107,799 0.471,800 Synopsys 32,064 0.142,000 Teradata 60,534 0.2614,188 Texas Instruments 308,715 1.352,100 VeriSign 46,846 0.201,000 VMware 55,024 0.242,800 Western Digital 61,117 0.2717,056 Xerox 114,281 0.503,200 Xilinx 65,719 0.2916,040 Yahoo! 165,859 0.72

16,801,794 73.41

CONTINENTAL EUROPE — 6.84%(6.78%)

Finland — 1.36% (1.42%)45,400 Nokia 311,257 1.36

France — 1.17% (1.13%)18,011 Alcatel (A) 47,271 0.219,062 Alcatel Lucent (ADR) 23,610 0.10830 Atos Origin 28,751 0.12

1,865 Cap Gemini 60,881 0.27760 Dassault Systemes 35,662 0.16150 Iliad 9,918 0.04

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Portfolio Statement continued


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France — (cont.)8,210 STMicroelectronics 60,879 0.27

266,972 1.17

Germany — 2.15% (2.00%)13,066 Infineon Technologies 89,313 0.3911,043 SAP 403,628 1.76

492,941 2.15

Ireland — 0.22% (0.23%)5,700 Seagate Technology 50,804 0.22

Netherlands — 0.60% (0.55%)5,240 ASML Holding 137,593 0.60

Spain — 0.10% (0.12%)1,900 Indra Sistemas 22,365 0.10

Sweden — 1.24% (1.33%)36,478 Ericsson (B) 283,244 1.24

MIDDLE EAST — 0.06% (0.07%)

Israel — 0.06% (0.07%)711 Nice Systems 14,731 0.06

ASIA — 17.32% (17.83%)

Hong Kong — 0.30% (0.34%)2,600 ASM Pacific Technology 20,338 0.0988,000 Lenovo Group 31,267 0.14185,000 Semiconductor Manufacturing

International Corporation 9,919 0.0420,000 TPV Technology 7,826 0.03

69,350 0.30

Japan — 5.31% (6.00%)2,000 Advantest 25,663 0.113,500 Brother Industries 33,913 0.1516,000 Canon 475,170 2.08

800 Canon Marketing 6,870 0.03700 Capcom 7,985 0.03

2,000 Dainippon Screen 11,744 0.051,700 Elpida Memory 15,835 0.074,600 Fujifilm Holdings 100,699 0.4419,000 Fujitsu 75,093 0.33

600 Hitachi High Technologies 9,305 0.04700 IT Holdings 5,092 0.02300 Itochu Techno-Science 6,583 0.03

32,500 NEC 58,496 0.262,100 Nomura Research Institute 30,569 0.13200 NS Solutions 2,844 0.0114 NTT Data 31,551 0.1470 OBIC 8,793 0.04300 Oracle Japan 8,707 0.04100 Otsuka Shokai 4,597 0.02

7,000 Ricoh 57,379 0.251,400 Rohm 59,741 0.261,700 Seiko Epson 17,734 0.08900 Shinko Electric Industries 6,405 0.03500 Square Enix 5,640 0.02

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Japan — (cont.)1,200 Sumco 11,447 0.051,600 Tokyo Electron 65,516 0.291,200 Trend Micro 23,435 0.10203 Yahoo! Japan 46,966 0.21

1,213,772 5.31

Singapore — 0.20% (0.02%)2,100 Avago Technologies 42,421 0.196,000 STATS ChipPAC 2,515 0.01

44,936 0.20

South Korea — 5.02% (5.02%)140 Daum Communication 6,540 0.03

5,140 Hynix Semiconductor 82,620 0.363,250 LG Philips LCD 68,384 0.30572 NHN 63,850 0.28

1,769 Samsung Electronics 924,134 4.04110 Sindo Ricoh 3,150 0.01

1,148,678 5.02

Taiwan — 6.49% (6.45%)30,900 Acer 48,655 0.214,278 Advantech 7,648 0.0354,711 ASE Group 40,186 0.187,234 ASUSTeK Computer 38,488 0.1743,566 Au Optronics 25,337 0.118,293 Au Optronics (ADR) 47,606 0.217,490 Chicony Electronics 9,712 0.0478,858 Chimei Innolux 57,583 0.2544,729 Chunghwa Picture Tubes 3,921 0.02

788 Chunghwa Picture Tubes (GDR) 1,728 0.0133,400 CMC Magnetics 5,461 0.0210,638 Compal Communications 7,023 0.0351,901 Compal Electronics 40,861 0.187,236 D-Link 4,528 0.022,719 Faraday Technology 3,502 0.0257,954 HannStar Display 6,516 0.0310,039 High Tech Computer 205,213 0.9028,319 Inotera Memories 10,827 0.0535,129 Inventec 12,258 0.052,113 Lite-On IT 1,459 0.0137,732 Macronix International 17,921 0.0812,920 Mediatek 98,379 0.436,673 Micro-Star International 2,444 0.019,693 Mitac International 2,881 0.015,000 MStar Semiconductor 24,717 0.1123,172 Nanya Technology 8,984 0.046,099 Novatek Microelectronics 12,086 0.0520,470 Pegatron 16,579 0.0751,574 Powerchip Semiconductor 7,610 0.0313,003 Qisda 5,322 0.0233,738 Quanta Computer 41,859 0.185,953 Realtek Semiconductor 7,976 0.0437,542 Siliconware Precision Industries 31,740 0.1417,608 Synnex Technology International 27,649 0.12254,283 Taiwan Semiconductor

Manufacturing 394,365 1.72

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Taiwan — (cont.)12,430 Taiwan Semiconductor

Manufacturing (ADR) 98,857 0.4372,000 Tatung 9,771 0.043,000 Transcend Informat 5,305 0.02

121,179 United Microelectronics 43,460 0.197,499 United Microelectronics (ADR) 14,303 0.066,944 Vanguard International

Semiconductor 2,438 0.0131,000 Winbond Electronics 7,078 0.0322,645 Wistron 26,096 0.12

1,486,332 6.49

Portfolio of investments 22,845,664 99.82

Net other assets 42,280 0.18

Net assets £22,887,944 100.00%

Total purchases for the period: £1,926,521.

Total sales for the period: £1,017,342.

Statement of Total Returnfor the period ended 10 February 2011

10/02/11 10/02/10

£ £ £ £

Income

Net capital gains 3,343,356 2,237,505

Revenue 98,293 81,784

Expenses (114,936) ( 90,351)

Finance costs: Interest (36) ( 17)

Net expense beforetaxation for the period (16,679) (8,584)

Taxation (14,130) ( 11,743)

Net expense aftertaxation for the period (30,809) (20,327)

Total returnbefore distributions 3,312,547 2,217,178

Finance costs: Distributions 2,197 96

Change in net assetsattributable to Unitholdersfrom investment activities £3,314,744 £2,217,274

Statement of Change in Net Assets attributable toUnitholders for the period ended 10 February 2011

10/02/11 10/02/10

£ £ £ £

Opening net assetsattributable to Unitholders 18,638,641 14,603,488

Amounts receivedon creation of units 1,692,782 627,859

Amounts paid oncancellation of units (758,223) (381,367)

934,559 246,492

Change in net assetsattributable to Unitholdersfrom investment activities 3,314,744 2,217,274

Closing net assetsattributable to Unitholders £22,887,944 £17,067,254

The difference between the opening net assets and thecomparative closing net assets is the movement in the secondhalf of the year.

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Financial Statements

Balance Sheet as at 10 February 2011

10/02/11 10/08/10

£ £ £ £

ASSETS

Investment assets 22,845,664 18,593,828

Debtors 137,960 87,137

Cash and bank balances 47,826 38,820

Total other assets 185,786 125,957

Total assets 23,031,450 18,719,785

LIABILITIES

Investment liabilities — —

Creditors (115,399) (71,717)

Bank overdrafts (28,107) (9,427)

Total other liabilities (143,506) (81,144)

Total liabilities (143,506) (81,144)

Net assets attributableto Unitholders £22,887,944 £18,638,641

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Financial Statements continued

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Notes to the Financial Statements

1. Accounting policies

(a) Changes to accounting policiesThe financial statements have been prepared under thehistorical cost convention, as modified by the revaluation ofinvestments, and in accordance with the Statement ofRecommended Practice for Authorised Funds issued by theIMA in October 2010 (‘the IMA SORP 2010’).

Previously the financial statements were prepared inaccordance with the Statement of Recommended Practicefor Authorised Funds issued by the IMA in November 2008.

There has been no impact on the financial statements or ondisclosure for the period.

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Trust Facts

Distribution InformationThe policy is to distribute, on an annual basis, all availablerevenue, after deduction of those expenses which arechargeable in calculating the distribution. This being the case,there is no interim distribution.

Total Expense Ratios

10 Feb 11 10 Aug 10R-Class 1.15% R-Class 1.15%I-Class 0.33% I-Class 0.33%

The Total Expense Ratio is the ratio of the Trust’s operatingcosts (excluding overdraft interest) to the average net assets ofthe Trust.

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Performance Record

Net Asset Values

Net Asset Net Asset Number OfAccounting Value Of Value Per UnitsDate Trust Unit In Issue

10 Aug 08

R-Class

Accumulation Units £14,551,909 10.80p 134,753,734

I-Class

Accumulation Units £56,629 10.96p 516,863

10 Aug 09

R-Class


I-Class

Accumulation Units £30,345 10.90p 278,500

10 Aug 10

R-Class


I-Class

Accumulation Units £218,026 12.83p 1,699,162

10 Feb 11

R-Class


I-Class



The price of units and income from them may go down as wellas up.


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Unit Price Range and Net RevenueR-Class Units

Highest Lowest NetYear Offer Bid Revenue

Accumulation Units2006 11.62p 9.18p —

2007 12.18p 10.24p —

2008 11.82p 7.55p 0.0033p

2009 12.98p 8.07p 0.0353p

2010 14.62p 11.70p 0.0019p

2011(2) 14.98p 14.40p —

I-Class UnitsHighest Lowest Net

Year Offer Bid Revenue

Accumulation Units2006(1) 11.13p 9.30p —

2007 12.29p 10.32p —

2008 11.97p 7.67p 0.0767p

2009 13.29p 8.21p 0.0981p

2010 15.09p 12.05p 0.1038p

2011(2) 15.49p 14.88p —

(1) From 11 August 2006.(2) The above tables show highest offer and lowest bid prices per

unit to 10 February 2011.


The price of units and income from them may go down as wellas up.


Performance Record continued

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General Information

ConstitutionLaunch date: 1 November 2000Period end date for distribution: 10 AugustDistribution date: 10 OctoberMinimum initial lumpsum investment: R-Class £500

I-Class £100,000Minimum monthlycontributions: R-Class £50

I-Class N/AValuation point: 3pmManagement charges: R-Class Annual 1.00%

I-Class Annual 0.30%Initial charges: R-Class Nil

I-Class Nil

Pricing and DealingThe prices are published on the internet atwww.legalandgeneral.com/investments/daily-prices.htmlimmediately after they become available.

Dealing in units takes place on a forward pricing basis, from8:30am to 6:00pm, Monday to Friday.

Buying and Selling UnitsUnits may be bought on any business day from the Manager orthrough a financial adviser by telephoning, completing anapplication form or on the internet at www.legalandgeneral.com.Units may normally be sold back to the Manager on anybusiness day at the bid price calculated at the followingvaluation point.

ISA StatusThis Trust may be held within this tax advantaged savingsarrangement. The favourable tax treatment of ISAs may not bemaintained. For full written information please contact yourusual financial adviser or ring 0370 050 0955.

Call charges will vary. We may record and monitor calls.

Stamp Duty Reserve TaxStamp Duty Reserve Tax suffered on the surrender of unitswhere applicable, has been charged against the capital assets ofthe Trust.

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Prospectus and Manager’s ReportsThe Manager will send to all persons on the Unitholder Registerannual and interim short form reports.

Copies of the Prospectus and the most recent annual or interimreports are available free of charge by telephoning0370 050 0955 or by writing to the Manager.

Do you have difficulty in reading information in print becauseof a disability? If so, we can help. We are able to produceinformation for our clients in large print and braille. If youwould like to discuss your particular requirements, pleasecontact us on 0370 050 0955.

Call charges will vary. We may record and monitor calls.

The FTSE World Technology Index can be viewed on thefollowing website:

www.ftse.com/Indices/FTSE_Custom_Indices/legal_general.jsp

This is the Trust’s benchmark Index.

General Information continued

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General Information continued

ManagerLegal & General (Unit Trust Managers) LimitedRegistered in England No. 01009418Registered office:One Coleman Street,London EC2R 5AATelephone: 0370 050 3350Authorised and regulated by the Financial Services Authority

Directors of the ManagerM. B. BoardmanS. C. EllisM. J. GregoryS. R. PistellS. D.Thomas

SecretaryA. Fairhurst

RegistrarLegal & General (Portfolio Management Services) LimitedP.O. Box 6080Wolverhampton WV1 9RBAuthorised and regulated by the Financial Services AuthorityDealing: 0370 050 0956Enquiries: 0370 050 0955Registration: 0370 050 0955Call charges will vary. We may record and monitor calls.

TrusteeThe Royal Bank of Scotland PlcTrustee and Depositary ServicesGogarburnP.O. Box 1000Edinburgh EH12 1HQAuthorised and regulated by the Financial Services Authority

Independent AuditorsPricewaterhouseCoopers LLPHay’s Galleria1 Hay’s LaneLondon SE1 2RD

Investment AdviserLegal & General Investment Management LimitedOne Coleman Street,London EC2R 5AAAuthorised and regulated by the Financial Services Authority

Authorised and regulated by theFinancial Services Authority

Legal & General(Unit Trust Managers) LimitedRegistered in England No. 01009418Registered office:One Coleman Street,London EC2R 5AAwww.legalandgeneral.com

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