SICAV (UCITS compliant)

L&G Emerging Markets Short Duration Bond Fund

I-Class EUR (Hedged) Accumulation



Fund aim

The objective of the Fund is to provide long term return consisting of a combination of capital growth and income. The Fund will seek to achieve its objective while maintaining a lower weighted average carbon intensity than the Benchmark Index.

The Fund is actively managed and seeks to achieve this objective by investing in a broad range of fixed income securities of which at least 80% will be issued in US Dollar, Sterling or Euro by Developing/Emerging Market governments and corporates.

Fund snapshot

  • What does it invest in? Invests predominantly in fixed income securities with medium term maturity including bonds and other debt instruments, issued in a variety of currencies by companies and governments in emerging countries.
  • How does it invest? Actively managed, investing in debt which is a mixture of investment grade (lower risk) and sub-investment grade (higher risk). May also invest in unrated bonds, other types of securities and derivatives.
  • Does it promote sustainability characteristics? The Fund promotes a range of environmental and social characteristics. Further information on how such characteristics are met by the Fund can be found in the Supplement.

Fund facts

Fund size$552.8m
Base currencyUSD
Fund launch date24 Oct 2016
Share class launch2 Oct 2017
Modified duration3.67 years
Gross redemption yield (unhedged)8.04%
As at 31 Jan 2024


Blended benchmark consisting of 50% JP Morgan EMBIG Div 3-5 year Total Return Index and 50% JP Morgan CEMBI BD 3-5 year Total Return Index


Initial charge0.00%
Ongoing charges figure0.59%
Dilution adjustment1.000% - round trip


Performance for the I EUR (Hedged) Acc unit class in EUR, launched on 02 October 2017. Source: Lipper. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.
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:02 Oct 2017
Share class launch date:02 Oct 2017
    Share class launch date:02 Oct 2017

    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

    There is no minimum guaranteed return. You could lose some or all of your investment.

    Stress scenario
    What you might get back after costs7,350EUR8,020EUR
    Average return each year (%)-26.50EUR-4.31EUR
    Unfavourable scenario
    What you might get back after costs8,080EUR8,840EUR
    Average return each year (%)-19.24EUR-2.44EUR
    Moderate scenario
    What you might get back after costs10,230EUR11,750EUR
    Average return each year (%)2.29EUR3.27EUR
    Favourable scenario
    What you might get back after costs11,910EUR13,980EUR
    Average return each year (%)19.12EUR6.93EUR

    Portfolio breakdown

    As at 31 Jan 2024

    Top 10 issuers18.1%
    Rest of portfolio81.9%
    No. of issuers194

    Top 10 issuers (%)

    Republic of Turkiye2.8
    Grupo Financiero BanorteB de CV2.0
    Taiwan Semiconductor Manufacturing Co1.8
    GIC Pte1.7
    Federal Republic of Nigeria1.7
    Standard Chartered1.7
    Dominican Republic1.6
    Qatar Investment Authority1.6
    Republic of South Africa1.6

    Currency (%)

    This is the currency breakdown before allowing for any hedging the fund may use. We aim to hedge the portfolio 100% back to the base currency.

    All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Fund managers

    Uday Patnaik headshot

    Uday Patnaik

    Uday is responsible for developing LGIM’s emerging market capabilities within the Global Fixed Income team. Uday joined LGIM in April 2014 from Gulf International Bank (UK) Ltd where he held the title of Chief Investment Officer with primary responsibility for managing the flagship EMD hedge fund and other fixed income portfolios. Uday has an MBA in finance from the University of Chicago and a BSc degree in industrial management from Carnegie Mellon University.


    SFDR categorisation

    Environmental characteristics
    Social characteristics

    No reference benchmark has been designated for the purpose of attaining the environmental or 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.



    Pricing information

    Price basisSingle swing
    Price time23:00 CET
    Monthly price history

    Download full price history

    Codes and dealing


    BloombergLGESDIE LX

    Dealing information

    Valuation frequencyDaily, 23:00 CET
    Dealing frequencyEach Business Day
    Settlement periodT+3
    Administrator/CustodianNorthern Trust

    Country registration

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

    United Kingdom