L&G Emerging Markets Government Bond (Local Currency) Index Fund
ICAV (UCITS compliant)
L&G Emerging Markets Government Bond (Local Currency) Index Fund
I-Class EUR (Unhedged) Accumulation
ISINIE00BD6FXD30
Price
ISINIE00BD6FXD30
Price
Fund aim
The Fund aims to track the performance of the Emerging Markets government bond market as represented by the JPMorgan GBI-EM Global Diversified Local Currency Index (the "Index").
Fund snapshot
- What does it invest in? Invests primarily in bonds that make up the index, issued by governments of developing countries, denominated in their local currency. These bonds will be a mixture of sub-investment grade (higher risk), investment grade (lower risk) and non-rated bonds. The Fund may also use derivatives.
- How does it invest? Passively managed, aiming to replicate the performance of the index.
Fund facts
| Fund size | $1,486.6m |
| Base currency | USD |
| Fund launch date | 24 Mar 2017 |
| Domicile | Ireland |
| Share class launch | 11 Jun 2018 |
| Modified duration | 4.98 years |
| Gross redemption yield (unhedged) | 6.05% |
Benchmark
JPMorgan GBI-EM Global Diversified Local Currency Index
Costs
| Initial charge | 0.00% |
| Ongoing charges figure | 0.32% |
| Dilution levy | 0.174% - round trip |
| Entry anti-dilution levy | 0.09% |
| Exit anti-dilution levy | 0.09% |
Performance
Portfolio breakdown
As at 31 Jan 2024
| Top 10 holdings | 12.8% |
|---|---|
| Rest of portfolio | 87.2% |
| No. of issuers in fund | 29 |
|---|---|
| No. of issuers in index | 19 |
Top 10 holdings (%)
| Brazil Letras do Tes 0% 01 Jan 26 | 1.7 |
| Brazil Letras do Tes 0% 01 Jul 26 | 1.5 |
| Brazil Notas Do Tes F 10% 01 Jan 29 | 1.4 |
| Brazil Notas do Tes F 10% 01 Jan 27 | 1.4 |
| South Africa Govt Bd 10.5% 21 Dec 26 | 1.3 |
| Mexican Bonos 5.75% 05 Mar 26 | 1.2 |
| South Africa Govt Bd 8% 31 Jan 30 | 1.1 |
| Mexican Bonos 7.5% 03 Jun 27 | 1.1 |
| South Africa Govt Bd 8.75% 28 Feb 48 | 1.1 |
| Mexican Bonos 7.75% 29 May 31 | 1.0 |
Country (%)
China | 10.1 |
Malaysia | 10.0 |
Brazil | 9.6 |
Thailand | 9.6 |
Mexico | 9.5 |
Indonesia | 9.5 |
South Africa | 8.5 |
Poland | 7.6 |
Czech Republic | 6.3 |
Other | 19.5 |
| Top 10 holdings | 12.8% |
|---|---|
| Rest of portfolio | 87.2% |
| No. of issuers in fund | 29 |
|---|---|
| No. of issuers in index | 19 |
Top 10 holdings (%)
| Brazil Letras do Tes 0% 01 Jan 26 | 1.7 |
| Brazil Letras do Tes 0% 01 Jul 26 | 1.5 |
| Brazil Notas Do Tes F 10% 01 Jan 29 | 1.4 |
| Brazil Notas do Tes F 10% 01 Jan 27 | 1.4 |
| South Africa Govt Bd 10.5% 21 Dec 26 | 1.3 |
| Mexican Bonos 5.75% 05 Mar 26 | 1.2 |
| South Africa Govt Bd 8% 31 Jan 30 | 1.1 |
| Mexican Bonos 7.5% 03 Jun 27 | 1.1 |
| South Africa Govt Bd 8.75% 28 Feb 48 | 1.1 |
| Mexican Bonos 7.75% 29 May 31 | 1.0 |
Country (%)
China | 10.1 |
Malaysia | 10.0 |
Brazil | 9.6 |
Thailand | 9.6 |
Mexico | 9.5 |
Indonesia | 9.5 |
South Africa | 8.5 |
Poland | 7.6 |
Czech Republic | 6.3 |
Other | 19.5 |
Years to maturity (%)
0 - 5 Years | 48.9 |
5 - 10 Years | 29.6 |
10 - 15 Years | 11.5 |
15 - 20 Years | 5.4 |
20 - 25 Years | 2.3 |
25 - 30 Years | 2.4 |
Credit rating (%)
| AAA | 1.9 | |
| AA | 6.5 | |
| A+ | 0.5 | |
| A | 28 | |
| A- | 0.9 | |
| BBB+ | 0.6 | |
| BBB | 42.2 | |
| BBB- | 0.1 | |
| BB | 16.5 | |
| Other | 2.9 |
Currency (%)
CNY | 10.1 |
BRL | 10.0 |
MYR | 10.0 |
MXN | 9.9 |
IDR | 9.9 |
THB | 9.6 |
ZAR | 8.5 |
PLN | 7.8 |
CZK | 6.3 |
Other | 18.1 |
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.
Literature
Document type
Prices
Pricing information
| Price basis | Single - dilution levy |
| Price time | 22:30 Irish time |
| Currency | EUR |
Codes and dealing
Codes
| ISIN | IE00BD6FXD30 |
| SEDOL | BD6FXD3 |
| Bloomberg | LGEGLIE 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:
