MSCI Global Emerging Markets Equity Index ESG Exclusions Fund
Unit-Linked Life Insurance
MSCI Global Emerging Markets Equity Index ESG Exclusions Fund
Fund aim
The investment objective of the fund is currently to track the performance of the MSCI EM (Emerging Markets) ex Selected Securities Index (less withholding tax where applicable) to within +/-0.60% p.a. for two years out of three.
Fund characteristics
The fund employs an index tracking strategy, aiming to replicate the performance of its benchmark. The index is a customised index comprising of securities from the regional component of the MSCI ACWI Index. The index excludes securities issued by companies on L&G’s Future World Protection List (FWPL). The FWPL seeks to align with market practice and client expectations for responsible investment products, as set out in the FWPL methodology. Companies on the FWPL include companies considered as perennial violators of the United Nations Global Compact, certain companies involved in controversial weapons manufacturing and production, certain companies with involvement in mining and extraction of thermal coal, thermal coal power generation or oil sands. www.landg.com/fwpl.
Within the tracking deviation, the fund may exclude securities issued by companies listed on L&G’s Climate Impact Pledge divestment list. This list includes companies, which after a certain period of engagement, continue to: (i) not perform well against L&G’s climate assessment; (ii) are unresponsive to engagement recommendations; and/or; fall behind in meeting L&G’s minimum standards. If the tracking deviation limit is exceeded, holdings of companies that are on the Climate Impact Pledge divestment list may be reduced rather than fully divested. www.landg.com/cip.
We follow a pragmatic approach to managing index funds with the fund’s investments. While the investments will closely match the index, not all constituents will be held. The fund may invest directly in the securities of the index, or indirectly through other L&G funds.
The fund may also hold index and single stock futures for efficient portfolio management. Where the fund utilises futures, it may have a small degree of indirect exposure to companies that have been excluded by the index.
Within the tracking deviation, the fund may exclude securities issued by companies listed on L&G’s Climate Impact Pledge divestment list. This list includes companies, which after a certain period of engagement, continue to: (i) not perform well against L&G’s climate assessment; (ii) are unresponsive to engagement recommendations; and/or; fall behind in meeting L&G’s minimum standards. If the tracking deviation limit is exceeded, holdings of companies that are on the Climate Impact Pledge divestment list may be reduced rather than fully divested. www.landg.com/cip.
We follow a pragmatic approach to managing index funds with the fund’s investments. While the investments will closely match the index, not all constituents will be held. The fund may invest directly in the securities of the index, or indirectly through other L&G funds.
The fund may also hold index and single stock futures for efficient portfolio management. Where the fund utilises futures, it may have a small degree of indirect exposure to companies that have been excluded by the index.
Fund facts
| Fund size As at 30 Jun 2026 | £1,960.5m |
| Base currency | GBP |
| Fund launch | 01/09/21 |
| Domicile | United Kingdom |
Benchmark
MSCI EM (Emerging Markets) ex Selected Securities Index
A custom index calculated by MSCI based on ESG criteria selected by L&G.
Performance
Source: LGIM. Performance is reported in GBP based on weekly mid-market prices before the deduction of fees. Please note that the Net Asset Value (NAV) of the fund incorporates accruals to reflect certain tax positions. The benchmark of the fund may not reflect such accruals in the same way and in certain circumstances this may cause the fund to deviate from its benchmark. The benchmark is supplied net of tax and withholding tax rates applied to the index by the index provider may be higher than those the fund incurs
Please note the name of the fund was previously updated to include "MSCI" to mirror the underlying benchmark. Prior to 31 March 2022 the exclusion criteria provided to the index provider were aligned with the FWPL (as described), but the application was based on the index provider's methodology.
Please note the name of the fund was previously updated to include "MSCI" to mirror the underlying benchmark. Prior to 31 March 2022 the exclusion criteria provided to the index provider were aligned with the FWPL (as described), but the application was based on the index provider's methodology.
Past performance is not a guide to future performance and the value of investments can go down as well as up.
Fund launch date: 01 Sep 2021
Benchmark: MSCI EM (Emerging Markets) ex Selected Securities Index
Year
Fund launch date: 01 Sep 2021
Benchmark: MSCI EM (Emerging Markets) ex Selected Securities Index
Source: LGIM. Performance is reported in GBP based on daily close mid-market prices before the deduction of fees. Please note that the Net Asset Value (NAV) of the fund incorporates accruals to reflect certain tax positions. The benchmark of the fund may not reflect such accruals in the same way and in certain circumstances this may cause the fund to deviate from its benchmark. The benchmark is supplied net of tax and withholding tax rates applied to the index by the index provider may be higher than those the fund incurs
Please note the name of the fund was previously updated to include "MSCI" to mirror the underlying benchmark. Prior to 31 March 2022 the exclusion criteria provided to the index provider were aligned with the FWPL (as described), but the application was based on the index provider's methodology.
Please note the name of the fund was previously updated to include "MSCI" to mirror the underlying benchmark. Prior to 31 March 2022 the exclusion criteria provided to the index provider were aligned with the FWPL (as described), but the application was based on the index provider's methodology.
Past performance is not a guide to future performance and the value of investments can go down as well as up.
Fund launch date: 01 Sep 2021
Benchmark: MSCI EM (Emerging Markets) ex Selected Securities Index
Year
Fund launch date: 01 Sep 2021
Benchmark: MSCI EM (Emerging Markets) ex Selected Securities Index
Source: LGIM. Performance is reported in GBP based on daily midday mid-market prices before the deduction of fees. Please note that the Net Asset Value (NAV) of the fund incorporates accruals to reflect certain tax positions. The benchmark of the fund may not reflect such accruals in the same way and in certain circumstances this may cause the fund to deviate from its benchmark. The benchmark is supplied net of tax and withholding tax rates applied to the index by the index provider may be higher than those the fund incurs
Please note the name of the fund was previously updated to include "MSCI" to mirror the underlying benchmark. Prior to 31 March 2022 the exclusion criteria provided to the index provider were aligned with the FWPL (as described), but the application was based on the index provider's methodology.
Please note the name of the fund was previously updated to include "MSCI" to mirror the underlying benchmark. Prior to 31 March 2022 the exclusion criteria provided to the index provider were aligned with the FWPL (as described), but the application was based on the index provider's methodology.
Past performance is not a guide to future performance and the value of investments can go down as well as up.
Fund launch date: 01 Sep 2021
Benchmark: MSCI EM (Emerging Markets) ex Selected Securities Index
Year
Fund launch date: 01 Sep 2021
Benchmark: MSCI EM (Emerging Markets) ex Selected Securities Index
Portfolio breakdown
As at 30 Jun 2026
| Top 10 holdings | 40.3% |
|---|---|
| Rest of portfolio | 59.7% |
| No. of holdings in fund | 1,033 |
|---|---|
| No. of holdings in index | 1,113 |
Top 10 holdings (%)
| Taiwan Semiconductor Manufacturing Co | 15.1 |
| Samsung Electronics Co | 8.2 |
| SK Hynix | 7.7 |
| Tencent Holdings | 2.7 |
| Alibaba Group Holding | 1.6 |
| Mediatek | 1.6 |
| Delta Electronics | 1.0 |
| Samsung Electronics Co Pref | 0.9 |
| SK Square Co | 0.8 |
| Hon Hai Precision Industry Co | 0.8 |
Higher fund constituents vs. index constituents may be due to liquidity positions, derivatives, short term investments and fractional unit differences.
Sector (%)
Information Technology | 45.4 |
Financials | 17.9 |
Consumer Discretionary | 7.2 |
Industrials | 6.7 |
Communication Services | 6.0 |
Materials | 5.4 |
Energy | 3.1 |
Consumer Staples | 2.7 |
Health Care | 2.4 |
Other | 3.3 |
| Top 10 holdings | 40.3% |
|---|---|
| Rest of portfolio | 59.7% |
| No. of holdings in fund | 1,033 |
|---|---|
| No. of holdings in index | 1,113 |
Top 10 holdings (%)
| Taiwan Semiconductor Manufacturing Co | 15.1 |
| Samsung Electronics Co | 8.2 |
| SK Hynix | 7.7 |
| Tencent Holdings | 2.7 |
| Alibaba Group Holding | 1.6 |
| Mediatek | 1.6 |
| Delta Electronics | 1.0 |
| Samsung Electronics Co Pref | 0.9 |
| SK Square Co | 0.8 |
| Hon Hai Precision Industry Co | 0.8 |
Higher fund constituents vs. index constituents may be due to liquidity positions, derivatives, short term investments and fractional unit differences.
Sector (%)
Information Technology | 45.4 |
Financials | 17.9 |
Consumer Discretionary | 7.2 |
Industrials | 6.7 |
Communication Services | 6.0 |
Materials | 5.4 |
Energy | 3.1 |
Consumer Staples | 2.7 |
Health Care | 2.4 |
Other | 3.3 |
Market capitalisation (%)
Large | 81.9 |
Mid | 18.1 |
Country (%)
Taiwan | 27.4 |
Korea | 23.7 |
China | 19.1 |
India | 10.6 |
Brazil | 3.8 |
South Africa | 2.8 |
Saudi Arabia | 2.4 |
Mexico | 1.6 |
United Arab Emirates | 1.1 |
Other | 7.4 |
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.
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Fund managers
L&G Index Fund Management Team
The skill set and expertise we have developed over 35+ years in index management has allowed us to continuously evolve our investment processes. The Index Fund Management team comprises 30 fund managers with an average experience of 15 years, supported by 33 broader team members. Management oversight is provided by Dave Barron, Global Head of Index, ETFs & Systematic Solutions. The team also has full access to the resources and research of other specialists within L&G, including economists and strategists.
Literature
Document type
Prices
Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close, daily close, or daily midday basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
