ETF (UCITS compliant)

L&G Pharma Breakthrough UCITS ETF

Fund facts

Fund size*
$54.1m
Base currency
USD
Listing date
23 Jan 2018
Domicile
Ireland
Index ticker
SOLBIOT
Replication method
Physical - backed by equities

Statistics

*As at 31 Jan 2023

Fund aim

The L&G Pharma Breakthrough UCITS ETF (the "ETF") aims to track the performance of the Solactive Pharma Breakthrough Value Index (the "Index").

  • Long-term allocation

Long-term value in a pharmaceutical sub-sector that benefits from certain commercial and regulatory incentives

  • High growth potential

Aims to capture the future growth opportunity in orphan drugs

  • Leveraging industry expertise

An index tracking investment strategy that is supported by a team of pharmaceutical experts

  • Does it have a sustainable objective?

The Fund has a sustainable investment objective as it invests in companies which (i) contribute to social objectives, (ii) do not significantly harm any environmental or social objectives, and (iii) follow good governance practices. Further information can be found in the Fund Supplement.

Further details

Charges and tax

TER
0.49%
ISA eligible
Yes
SIPP eligible
Yes
UK Fund Reporting Status
Yes

Management / administration

Issuer
Legal & General UCITS ETF Plc
Depositary and Trustee
The Bank of New York Mellon SA/NV, Dublin Branch
Securities regulator
Central Bank of Ireland

Country registration

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

Listings

Details
Codes
ExchangeCurrencyTickerListing dateISINBloomberg codeReuters codeTrading hours (local)
London Stock ExchangeGBPBIGT23/01/2018IE00BF0H7608BIGT LNBIGT.L08:00 - 16:30
London Stock ExchangeUSDBIOT23/01/2018IE00BF0H7608BIOT LNGEBIOT.L08:00 - 16:30
Borsa ItalianaEURBIOT23/02/2018IE00BF0H7608BIOT IMECBIOT.MI09:00 - 17:30
Deutsche Börse XetraEURETLI06/02/2018IE00BF0H7608ETLI GYETLI.DE09:00 - 17:30
Euronext AmsterdamEURBIOT01/02/2018IE00BF0H7608BIOT NAGOBIOT.AS09:00 - 17:30
SIX Swiss ExchangeCHFBIOT05/06/2020IE00BF0H7608BIOT SWBIOTC.S09:00 - 17:30

Solactive Pharma Breakthrough Value Index

The Index is comprised of bio-technology companies which are publicly traded on various stock exchanges around the world that are actively engaged in the research, development and manufacture of orphan drugs. An “orphan drug” is a pharmaceutical product that has been developed specifically to treat rare diseases or disorders. A company is only eligible for inclusion in the Index if (1) it is of a sufficient size (determined by reference to the total market value of the proportion of its shares that are publicly traded) and (2) it is sufficiently “liquid” (a measure of how actively its shares are traded on a daily basis).

The universe of companies out of which the Index selection is made is refreshed annually in April. However, the Index is reconstituted semi-annually in April and October in accordance with the full selection criteria and all companies are equally weighted within the Index. On a monthly basis, the weight of each company is assessed and, if any of them exceeds 15% of the Index, the weights of all companies are adjusted so that they are again equally weighted within the Index.

Index data

Provider
Solactive
Bloomberg code
SOLBIOT
Reuters code
.SOLBIOT
Type
Net Total Return
Website
www.solactive.com

Fund updates

Performance

Source: Lipper.

Performance for the USD Accumulating ETF class in USD, listed on 23 January 2018. Source: Lipper. Performance assumes all ETF charges have been taken and that all income generated by the investments, after deduction of tax, remains in the ETF.

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.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Dec 2022

    CumulativeFundBenchmark
    1 month0.680.72
    6 months6.636.94
    Year to date-7.26-6.86
    3 years13.3314.87
    5 years--
    Since launch17.4620.73
    AnnualisedFundBenchmark
    1 year-7.26-6.86
    3 years4.254.72
    5 years--
    Since launch-3.88

    As at 31 Dec 2022

    CumulativeFundBenchmark
    Quarterly13.0013.14
    Year to date-7.26-6.86
    3 years13.3314.87
    5 years--
    Since launch17.4620.73
    AnnualisedFundBenchmark
    1 year-7.26-6.86
    3 years4.254.72
    5 years--
    Since launch-3.88
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    FundBenchmark
    2013--
    2014--
    2015--
    2016--
    2017--
    2018--
    201912.6713.45
    202027.0927.73
    2021-3.85-3.44
    2022-7.26-6.86

    Calendar year performance (%)

    FundBenchmark
    2013--
    2014--
    2015--
    2016--
    2017--
    2018--
    201912.6713.45
    202027.0927.73
    2021-3.85-3.44
    2022-7.26-6.86

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-7.264.25--
    Benchmark-6.864.72-3.88

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-7.264.25--
    Benchmark-6.864.72-3.88

    Performance scenario

    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.

    Recommended holding period (RHP): 5 yearsExample Investment $10,000

    ScenariosIf you exit after 1 yearIf you exit after RHP
    MinimumThere is no minimum guaranteed return. You could lose some or all of your investment.
    Stress scenarioWhat you might get back after costs2,040.001,590.00
    Average return each year (%)-79.62-30.77
    Unfavourable scenarioWhat you might get back after costs7,890.008,300.00
    Average return each year (%)-21.13-3.67
    Moderate scenarioWhat you might get back after costs11,270.0015,970.00
    Average return each year (%)12.679.81
    Favourable scenarioWhat you might get back after costs16,860.0028,470.00
    Average return each year (%)68.5623.28

    The stress scenario shows what you might get back in extreme market circumstances.

    Unfavourable Scenario: This type of scenario occurred for an investment between 2012-2022.
    Moderate Scenario: This type of scenario occurred for an investment between 2012-2022.
    Favourable Scenario: This type of scenario occurred for an investment between 2012-2022.

    Portfolio

    As at 31 Dec 2022. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns below relate to the Index. The ETF’s portfolio may deviate from the below.

    Sector (%)

    Health Care100.0

    Currency (%)

    USD66.1
    EUR13.2
    JPY6.2
    CHF4.1
    AUD4.0
    HKD3.5
    SEK2.9
    Top 10 constituents39.1
    Rest of Index60.9
    No. of constituents in Index32

    Top 10 constituents (%)

    Horizon Therapeutics5.8
    Biogen4.3
    BeiGene4.0
    United Therapeutics3.8
    AbbVie3.6
    Sanofi3.6
    Alnylam Pharmaceuticals3.5
    BioMarin Pharmaceutical3.5
    Incyte Corporation3.5
    Novartis3.5

    Country (%)

    United States57.2
    Ireland8.9
    France7.0
    Japan6.2
    Spain6.2
    Switzerland4.1
    Australia4.0
    Cayman Islands3.5
    Sweden2.9

    Investment Manager

    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.

    LGIMIndex Fund Management Team

    Sustainability

    SFDR categorisation: Article 9Article 9: These funds have a sustainable investment objective

    Environmental characteristics
    Social characteristics

    The sustainable investment objective of the Fund is to provide exposure to the global orphan drugs industry. The Fund and seeks to achieve its investment objective by tracking the performance of the Solactive Pharma Breakthrough Value Index Net Total Return (the “Index”). The Index is a reference benchmark that has been designated for the purpose of attaining the sustainable investment objective of the Fund.

    The Fund follows the following sustainability-related investment strategy by tracking the Index that applies:

    Battery Value-Chain Theme
    Clean Water Theme
    Clean Energy Theme
    Hydrogen Economy Theme
    Healthcare Breakthrough Theme
    Pharma Breakthrough Theme

    The Index is comprised of bio-technology companies that are actively engaged in the research, development and/or manufacturing of orphan drugs that treat rare diseases.

    Companies eligible for inclusion in the Index universe shall be determined based on industry classification data provided by an independent third-party provider of consensus forecasts of leading industry analysts and analysis of the pharmaceutical and biotechnology healthcare sectors. In order to be eligible for inclusion in the Index a company must have a minimum of two marketed orphan drugs and must derive a proportion of revenue from orphan drugs which is within the top two quartiles of relevant orphan drugs companies, as determined by an independent third-party provider.

    Having assessed the existing constituents of the Index, we have concluded that such investments do not significantly harm any environmental and social objectives. We have implemented processes and checks, using both environmental and social indicators, to verify on a bi-annual basis that the Fund’s investments do not cause any significant harm to any such objectives.

    Green Bonds
    RAFI ESG Score
    RAFI Exclusions
    Solactive PAB Optimisation
    Solactive Exclusions
    Net Zero
    SDG Alignment
    Carbon Emissions Intensity Target
    LGIM ESG Score
    LGIM's Future World Protection List
    LGIM's Climate Impact Pledge
    Foxberry Paris Aligned
    MSCI Exclusions
    MSCI ESG Score
    JPM Exclusions
    JPM ESG Score
    Additional Exclusions
    ESG Factor Evaluation
    Decarbonisation
    LGIM Coal Policy
    LGIM Controversial Weapons
    J.P. Morgan ESG Exclusions
    J.P. Morgan ESG Score
    FTSE ESG Exclusions
    ROBO Global ESG Policy
    Solactive ESG Exclusions
    Solactive ESG Enhanced Exclusions
    Nasdaq ESG Exclusions
    Stoxx Exclusions
    Taxonomy

    The Fund does not invest a minimum amount in economic activities that qualify as environmentally sustainable under the Taxonomy Regulation.

    Sustainable Investments

    The Fund will invest at least 90% of its portfolio in investments that qualify as sustainable, all of which provide direct exposure to investee companies. The Fund will invest at least 0% of its portfolio in environmentally sustainable investments and at least 90% of its portfolio in socially sustainable investments. The actual level of environmentally and socially sustainable investments held by the Fund will always equate to at least the minimum proportion of sustainable investments of the portfolio outlined above. Some of the sustainable investments may be considered to contribute to both environmental and social objectives. The remaining portion of investments are not used to meet the sustainable investment objective.

    Principal Adverse Impacts

    The Fund considers principal adverse impacts on sustainability factors and LGIM has identified a subset of the adverse sustainability indicators that are relevant to the Fund’s investments. The Fund considers principal adverse impacts, identified using the below listed sustainability indicators, through the implementation of the Fund’s ESG investment strategy.

    • PAI 10: Companies violating UNGC/OECD

    Literature

    Prices

    Name
    USD Acc
    Currency
    USD
    NAV
    12.15
    Price time
    16:00 EST (NY)

    Key risks

    The value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested.

    Past performance is not a guide to the future.

    An investment in the ETF involves a significant degree of risk. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should obtain their own independent accounting, tax and legal advice and should consult their own professional advisers to ascertain the suitability of the ETF as an investment.

    The value of the shares in the ETF is directly affected by increases and decreases in the value of the Index. Accordingly the value of a share in the ETF may go up or down and a shareholder may lose some or the entire amount invested.

    The ETF's ability to closely track the Index will be affected by its ability to purchase and/or sell the Index constituents and any legal or regulatory restrictions or disruptions affecting them.

    The ETF's ability to closely track the Index will also be affected by transaction costs and taxes incurred when adjusting its investment portfolio generally and/or to mirror any periodic adjustments to the constituents of the Index. There can be no certainty that ETF shares can always be bought or sold on a stock exchange or that the market price at which the ETF shares may be traded on a stock exchange will reflect the performance of the Index.

    The ETF is subject to the risk that third party service providers (such as a bank entering into swaps with the ETF or the ETF's depositary) may go bankrupt or fail to pay money due to the ETF or return property belonging to the ETF.

    As the Index includes micro, small and medium-sized publicly traded companies, the ETF is subject to the risk that such companies may be more vulnerable to adverse business or economic events and greater and more unpredictable price changes than larger companies or the stock market as a whole.

    Companies that are actively engaged in the research, development and manufacture of orphan drugs are particularly vulnerable to the risk that, following lengthy and costly development periods, a drug may not ultimately enter into revenue-generating commercial production as a result of: (i) clinical trial failures, (ii) governmental intervention or refusal to grant appropriate approvals and/or licenses for clinical trials or commercial production and/or (iii) a lack of commercially viability. Additionally, the emergence of cheaper or more effective drugs could lead to a decline in the revenues of such companies. Such factors could lead to a decline in the value of the companies represented in the Index and therefore the ETF.

    For more information, please refer to the key investor information document.

    Important information

    In the United Kingdom and outside the European Economic Area, it is issued by Legal & General Investment Management Limited, authorised and regulated by the Financial Conduct Authority, No. 119272. Registered in England and Wales No. 02091894 with registered office at One Coleman Street, London, EC2R 5AA.

    In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with “top up” permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

    LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Via Uberto Visconti di Modrone, 15, 20122 Milan, (Companies’ Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.

    We are a member of the Irish Funds Association.

    All features described on this website are those current at the time of publication and may be changed in the future. Nothing on this website should be construed as advice and it is therefore not a recommendation to buy or sell securities. If in doubt about the suitability of this product, you should seek professional advice. Copies of the prospectus, key investor information document, annual and semi-annual reports & accounts are available free of charge on request or at www.lgimetf.com.

    This website is only directed at investors resident in jurisdictions where our funds are registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.

    Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data

    Index disclaimer

    The L&G Pharma Breakthrough UCITS ETF (the “ETF”) is not sponsored, promoted, sold or supported by Solactive AG. Nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade mark or the Index price, at any time or in any other respect.

    The Solactive Pharma Breakthrough Value Index (the “Index”) is calculated and published by Solactive AG. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards the Legal & General UCITS ETF Plc, Solactive AG has no obligation to point out errors in the Index to third parties including, but not limited to, investors and/or financial intermediaries of the ETF. Solactive AG does not guarantee the accuracy and/or the completeness of the Index or any related data, and shall not have any liability for any errors, omissions or interruptions therein.

    Neither publication of the Index by Solactive AG, nor the licensing of the Index or Index trade mark, for the purpose of use in connection with the ETF, constitutes a recommendation by Solactive AG to invest capital in said ETF nor does it, in any way, represent an assurance or opinion of Solactive AG with regard to any investment in this ETF. In no event shall Solactive AG have any liability for any lost profits or indirect, punitive, special or consequential damages or losses, even if notified of the possibility thereof.