L&G ESG Emerging Markets Government Bond (USD) Index Fund
ICAV (UCITS compliant)
L&G ESG Emerging Markets Government Bond (USD) Index Fund
K-Class GBP (Hedged) Accumulation
ISINIE00BL0KYN70
Price
ISINIE00BL0KYN70
Price
Fund aim
The investment objective of the Fund is to provide investors with a return in line with the Emerging Markets government bond market, as represented by the JPMorgan ESG Emerging Markets Bond Index (EMBI) Global Diversified (the “Index”).
Fund snapshot
- What does it invest in? Invests primarily in bonds issued in US dollars by governments of developing countries as determined by the index. These bonds will be a mixture of sub-investment grade (higher risk), investment grade (lower risk) and non-rated bonds. The index includes only bonds that meet the index provider’s socially responsible investing (“SRI”) requirements and environmental, social and governance (“ESG”) rating criteria. The fund may also use derivatives.
- How does it invest? Passively managed, aiming to replicate the performance of the index.
- Does it promote sustainability characteristics? The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement.
Fund facts
| Fund size | $1,546.7m |
| Base currency | USD |
| Fund launch date | 6 Dec 2018 |
| Domicile | Ireland |
| Share class launch | 6 Dec 2019 |
| Modified duration | 7.13 years |
| Gross redemption yield (unhedged) | 6.68% |
Benchmark
JPMorgan ESG Emerging Markets Bond Index (EMBI) Global Diversified Index
Costs
| Initial charge | 0.00% |
| Ongoing charges figure | 0.12% |
| Dilution levy | 0.406% |
| Entry anti-dilution levy | 0.40% |
| Exit anti-dilution levy | 0.00% |
Performance
Performance scenarios
Example investment:10,000 GBP
| Scenarios | 1 year | (Recommended holding period) 5 years | |
|---|---|---|---|
| Minimum | There is no minimum guaranteed return. You could lose some or all of your investment. | ||
| Stress scenario | What you might get back after costs | 6,130GBP | 7,050GBP |
| Average return each year (%) | -38.68 | -6.77 | |
| Unfavourable scenario | What you might get back after costs | 7,470GBP | 8,310GBP |
| Average return each year (%) | -25.34 | -3.64 | |
| Moderate scenario | What you might get back after costs | 10,310GBP | 12,390GBP |
| Average return each year (%) | 3.10 | 4.39 | |
| Favourable scenario | What you might get back after costs | 11,540GBP | 13,460GBP |
| Average return each year (%) | 15.36 | 6.12 | |
There is no minimum guaranteed return. You could lose some or all of your investment.
Portfolio breakdown
As at 31 Jan 2024
| Top 10 holdings | 6.3% |
|---|---|
| Rest of portfolio | 93.8% |
Top 10 holdings (%)
| Uruguay Govt Intl Bd 5.1% 18 Jun 50 | 0.9 |
| Kuwait Govt Intl Bd3.5% 20 Mar 27 | 0.8 |
| Poland Govt Bond 4.875% 04 Oct 33 | 0.6 |
| Poland Govt Bond 5.5% 04 Apr 53 | 0.6 |
| Uruguay Govt Intl Bd 4.975% 20 Apr 55 | 0.6 |
| Uruguay Govt Intl Bd 5.75% 28 Oct 34 | 0.6 |
| Qatar Govt Intl Bd5.103% 23 Apr 48 | 0.6 |
| Ecuador Govt Intl Bd 3.5% 31 Jul 35 | 0.5 |
| Argentine Govt Intl Bd 3.625% 09Jul35 | 0.5 |
| Uruguay Govt Intl Bd 4.375% 23 Jan 31 | 0.5 |
Country (%)
Saudi Arabia | 5.9 |
Indonesia | 4.9 |
United Arab Emirates | 4.6 |
Hungary | 4.3 |
Chile | 4.2 |
Brazil | 4.1 |
Oman | 3.8 |
Qatar | 3.8 |
Philippines | 3.7 |
Other | 60.8 |
| Top 10 holdings | 6.3% |
|---|---|
| Rest of portfolio | 93.8% |
Top 10 holdings (%)
| Uruguay Govt Intl Bd 5.1% 18 Jun 50 | 0.9 |
| Kuwait Govt Intl Bd3.5% 20 Mar 27 | 0.8 |
| Poland Govt Bond 4.875% 04 Oct 33 | 0.6 |
| Poland Govt Bond 5.5% 04 Apr 53 | 0.6 |
| Uruguay Govt Intl Bd 4.975% 20 Apr 55 | 0.6 |
| Uruguay Govt Intl Bd 5.75% 28 Oct 34 | 0.6 |
| Qatar Govt Intl Bd5.103% 23 Apr 48 | 0.6 |
| Ecuador Govt Intl Bd 3.5% 31 Jul 35 | 0.5 |
| Argentine Govt Intl Bd 3.625% 09Jul35 | 0.5 |
| Uruguay Govt Intl Bd 4.375% 23 Jan 31 | 0.5 |
Country (%)
Saudi Arabia | 5.9 |
Indonesia | 4.9 |
United Arab Emirates | 4.6 |
Hungary | 4.3 |
Chile | 4.2 |
Brazil | 4.1 |
Oman | 3.8 |
Qatar | 3.8 |
Philippines | 3.7 |
Other | 60.8 |
Years to maturity (%)
0 - 5 Years | 31.5 |
5 - 10 Years | 29.8 |
10 - 15 Years | 6.8 |
15 - 20 Years | 5.6 |
20 - 25 Years | 10.3 |
25 - 30 Years | 12.1 |
30 - 40 Years | 3.2 |
40+ Years | 0.7 |
Credit rating (%)
| AA | 6.8 | |
| A | 14.5 | |
| BBB | 36 | |
| BB | 22.3 | |
| B | 12.9 | |
| CCC | 3.5 | |
| CC | 1.9 | |
| C | 1.1 | |
| DDD | 0.9 | |
| D | 0.1 |
Currency (%)
USD | 100.0 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding. In order to minimise transaction costs, the Fund will not always own all the assets that constitute the index and on occasion it will own assets that are not in the index.
Fund managers
LGIM Index Fund Management Team
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 years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.
Sustainability
SFDR categorisation
Article 8
Environmental characteristics
Social characteristicsThe Fund promotes the above-mentioned characteristics by tracking the JPMorgan ESG Emerging Markets Bond Index (EMBI) Global Diversified (the “Index”), which is a designated reference benchmark for the purpose of attaining the environmental and social characteristics promoted by the Fund. Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
Environmental characteristicsSocial characteristicsThe Fund promotes the above-mentioned characteristics by tracking the JPMorgan ESG Emerging Markets Bond Index (EMBI) Global Diversified (the “Index”), which is a designated reference benchmark for the purpose of attaining the environmental and social characteristics promoted by the Fund. Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
The Fund follows the following sustainability-related investment strategy by tracking the Index that applies:
JPM Exclusions
JPM ESG Score
TaxonomySustainable Investments
Principal Adverse ImpactsLiterature
Document type
Prices
Pricing information
| Price basis | Single - dilution levy |
| Price time | 22:30 Irish time |
| Currency | GBP |
Codes and dealing
Codes
| ISIN | IE00BL0KYN70 |
| SEDOL | BL0KYN7 |
| Bloomberg | LGEEKGH ID |
| MEX | - |
Dealing information
| Valuation frequency | Daily, 22:30 Irish time |
| Dealing frequency | Each Irish and UK Business Day |
| Settlement period | T+2 |
| Administrator/Custodian | Northern Trust |
Country registration
This share class is registered for sale in the following countries:
