Collectives

ICAV (UCITS compliant)

L&G ESG Emerging Markets Government Bond (USD) Index Fund

I-Class EUR (Hedged) Accumulation

ISINIE00BGXQTK98

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 currencyUSD
Fund launch date6 Dec 2018
DomicileIreland
Share class launch21 Dec 2018
Modified duration7.13 years
Gross redemption yield (unhedged)6.68%
As at 31 Jan 2024

Benchmark

JPMorgan ESG Emerging Markets Bond Index (EMBI) Global Diversified Index

Costs

Initial charge0.00%
Ongoing charges figure0.32%
Dilution levy0.406%
Entry anti-dilution levy0.40%
Exit anti-dilution levy0.00%

Performance

Performance for the I EUR (Hedged) Acc unit class in EUR, launched on 21 December 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.
Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. The tables and charts above shows the fund's performance as the percentage loss or gain per year over the last 10 years.
Share class launch date:21 Dec 2018
Benchmark:JPM ESG EMBI Glb Diversified EUR hedged TR
Share class launch date:21 Dec 2018
Benchmark:JPM ESG EMBI Glb Diversified EUR hedged TR
    Share class launch date:21 Dec 2018
    Benchmark:JPM ESG EMBI Glb Diversified EUR hedged TR

    Performance scenarios

    The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.
    What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
    The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product with input from the over the last 10 years. Markets could develop very differently in the future.

    Example investment:10,000 EUR

    Scenarios1 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 costs6,170EUR7,050EUR
    Average return each year (%)-38.30EUR-6.76EUR
    Unfavourable scenario
    What you might get back after costs7,360EUR7,890EUR
    Average return each year (%)-26.36EUR-4.64EUR
    Moderate scenario
    What you might get back after costs10,230EUR11,930EUR
    Average return each year (%)2.29EUR3.60EUR
    Favourable scenario
    What you might get back after costs11,470EUR13,010EUR
    Average return each year (%)14.73EUR5.41EUR

    Portfolio breakdown

    As at 31 Jan 2024

    Top 10 holdings6.3%
    Rest of portfolio93.8%

    Top 10 holdings (%)

    Uruguay Govt Intl Bd 5.1% 18 Jun 500.9
    Kuwait Govt Intl Bd3.5% 20 Mar 270.8
    Poland Govt Bond 4.875% 04 Oct 330.6
    Poland Govt Bond 5.5% 04 Apr 530.6
    Uruguay Govt Intl Bd 4.975% 20 Apr 550.6
    Uruguay Govt Intl Bd 5.75% 28 Oct 340.6
    Qatar Govt Intl Bd5.103% 23 Apr 480.6
    Ecuador Govt Intl Bd 3.5% 31 Jul 350.5
    Argentine Govt Intl Bd 3.625% 09Jul350.5
    Uruguay Govt Intl Bd 4.375% 23 Jan 310.5

    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

    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 headshot

    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

    Environmental characteristics
    Social characteristics

    The 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.

    Literature

    Prices

    Pricing information

    Price basisSingle - dilution levy
    Price time22:30 Irish time
    CurrencyEUR
    Monthly price history

    Codes and dealing

    Codes

    ISINIE00BGXQTK98
    SEDOLBGXQTK9
    BloombergLGEEIEH ID
    MEX-

    Dealing information

    Valuation frequencyDaily, 22:30 Irish time
    Dealing frequencyEach Irish and UK Business Day
    Settlement periodT+2
    Administrator/CustodianNorthern Trust

    Country registration

    This share class is registered for sale in the following countries:

    Belgium
    Denmark
    Finland
    Germany
    Ireland
    Italy
    Luxembourg
    Netherlands
    Norway
    Spain
    Sweden
    Switzerland
    United Kingdom