LGIM Liquidity Funds plc (UCITS compliant)

LGIM US Dollar Liquidity Fund


Fund facts

Fund size
Base currency
Launch date
21 Sep 2011
Share class launch
Daily yield*


Weighted average maturity
35 days
Weighted average final maturity
35 days

As at 31 Jul 2023

*As at28 Sep 2023
*As at28 Sep 2023
*As at28 Sep 2023

Fund aim

To provide capital stability and a return in line with money market rates whilst providing daily access to liquidity and providing an income. The Fund seeks to maintain a AAA rating, which is the highest fund rating available.


Fund ratings

In addition to LGIM’s risk management oversight, the Fund is rated by the following agencies:

  • What does it invest in? Invests in short-term, US dollar based assets which are issued by governments, high quality banks and companies.
  • How does it invest? Actively managed, investing in deposits, short-term debt securities and money market instruments that mature within 397 days and have been awarded one of the two highest available short-term credit ratings by each recognised credit rating agency. May also invest in eligible short-term securitisations.
  • 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.

Further details


Price basis
Single - mid


Dealing information

Valuation frequencyDaily, 17:00 Irish time
Dealing frequencyEach Business Day
Settlement periodT+0

Country registration

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

Fund updates


As at 31 Jul 2023. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

Asset (%)

Certificate of Deposit32.2
Commercial Paper31.1
Deposit (Overnight)27.1
Repurchase Agreement6.1
Floating Rate Notes3.6

Days to maturity (%)

2 to 7 days0.9
7 days to 1 Month29.8
1 to 3 months22.5
3 to 6 months9.0
6 to 12 months5.5

Credit rating (%)


Source: Standard & Poor's

Top 10 issuers41.8
Rest of portfolio58.2

Top 10 issuers (%)

United States Treasury*6.1
Credit Agricole SA4.5
DZ Bank3.6
National Bank of Canada3.6
Australia & New Zealand Banking Group3.6
ABN Amro3.5

*Includes reverse repurchase agreements collateralised with US Treasury issuance.

Country (%)

United Kingdom9.3
United States7.8

Fund Manager

Liquidity Management

Liquidity Management (within Global Trading and Liquidity) forms a strategic part of our asset management capability incorporating liquidity and short duration portfolios as well as securities financing.

Sustainability-related Disclosures

SFDR categorisation: Article 8Article 8: These funds promote environmental and/or social characteristics

Environmental characteristics

The Fund promotes the following environmental characteristics related to climate change:

  • reduction of greenhouse gas emissions intensity;
  • avoiding investments in certain fossil fuels; and
  • support of better practices in energy consumption (or usage).

The Fund also promotes the following other environmental characteristics:

  • support of biodiversity and responsible land use.
Social characteristics

The Fund promotes the following social characteristics relating to social norms and standards:

  • human rights, labour rights and anti-corruption as set out in the principles of the UN Global Compact; and
  • avoiding the financing of controversial weapons.

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.

The Fund seeks to implement LGIM’s Responsible Investment Framework which aims to provide a consistent and systematic approach to exclusions, refined criteria and thresholds for setting environmental and social characteristics with a defined terminology and approach to support the implementation of such characteristics across the financial products managed by LGIM.

The Responsible Investment Framework sets out the various types of investment strategies that LGIM’s financial products can follow and the responsible investing methodologies that explain how such investment strategies are defined and implemented.

The Fund follows the following sustainability-related investment strategy:

Battery Value-Chain Theme
Clean Water Theme
Clean Energy Theme
Hydrogen Economy Theme
Healthcare Breakthrough Theme
Pharma Breakthrough Theme
Green Bonds
RAFI Exclusions
Solactive PAB Optimisation
Solactive Exclusions
Net Zero
SDG Alignment
Carbon Emissions Intensity Target
LGIM's Future World Protection List

The Future World Protection List (‘FWPL’) consists of companies that fail to meet minimum standards of globally accepted business practices on sustainability, or our minimum requirements on the carbon transition. There are three components to the list:

  • Companies that generate 20% or more of their revenues from involvement in mining and extraction of thermal coal, thermal-coal power generation and oil sands,
  • Companies that are in breach of one or more principles of the United Nation Global Compact for a continuous period of three years (36 months) or more (that are considered persistent violators), or
  • Companies involved in the manufacture and production of controversial weapons.

The Fund excludes investments in companies on FWPL. The list is monitored on an on-going basis and updated semi-annually. In order to determine the companies included on the list, we use data from a number of external ESG data providers.

Further information can be found at https://www.lgim.com/landg-assets/lgim/_document-library/capabilities/future-world-protection-list-public-methodology.pdf

LGIM's Climate Impact Pledge

The Fund excludes companies that fail to meet LGIM’s minimum requirements on climate change following engagement under Climate Impact Pledge (‘CIP’).

  • The CIP maps out a large number of companies worldwide, in climate-critical sectors against key indicators. Using quantitative and qualitative measures, such companies are assessed under a traffic light system drawing on independent data providers and our pioneering climate modelling.
  • Based on the results of engagement with these companies, LGIM uses escalating methods as necessary, which includes a period of engagement with companies and in the event that a company continues to make insufficient progress and fails to meet LGIM’s minimum standard expectation, may include sanction through voting and divestment.
  • The CIP is monitored on an on-going basis and updated annually. The ESG data that is used in connection with the CIP is sourced from third-party data providers.

Further information can be found at Climate Impact Pledge overview

Foxberry Paris Aligned
MSCI Exclusions
JPM Exclusions
Additional Exclusions
ESG Factor Evaluation

LGIM considers ESG factors when making investment decisions on behalf of the Fund which include a number of environmental and social factors, for example relating to:

  • climate change
  • water and waste
  • supply chain
  • environmental policies and controls
  • labour rights, health and safety
  • bribery and corruption.

The evaluation process starts with the identification of ESG factors using both top-down and bottom-up approaches. The top-down research analysis focuses on determining the resiliency of sectors on a macro level, while the bottom-up research process evaluates the ESG credentials of individual companies.

LGIM has developed a proprietary research tool called Active ESG View which brings together granular quantitative and qualitative ESG inputs. Active ESG View primarily uses third-party data from multiple different vendors which includes hundreds of ESG metrics (including data on carbon emissions, water and waste, environmental policies and controls, labour, health and safety, bribery and corruption) spanning 64 specific sectors and/or sub-sectors from a number of ESG data providers.

The quantitative inputs consist of two components:

  1. an ESG score calculated in Active ESG View which evaluates and scores issuers from an environmental, social and governance perspective, and
  2. a screening of investee companies in respect of their involvement in certain products and services, and certain controversies and violations of norms and standards. This screening, directly or indirectly, maps to some of the adverse sustainability indicators set out in Table 1 of Annex I of the Level 2 Measures.

LGIM set minimum thresholds for both of these components in Active ESG View. These are then supplemented by LGIM’s qualitative assessment of the sustainability risks and opportunities relating to the relevant issuer. This qualitative assessment is performed by the Global Research and Engagement Groups (“GREGs”) which bring together representatives from LGIM’s investment and investment stewardship teams across regions and asset classes. Where issuers fail to meet either of the components of the quantitative assessment, and the GREGs have reviewed and agreed with the assessment through qualitative analysis, such issuer shall be excluded from the Fund.

The sustainability indicator that will be used in relation to the attainment of the environmental and social characteristics relating to this process will measure the aggregate exposure to issuers that are not aligned with LGIM's minimum standards for ESG factor evaluation.

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

While the Fund promotes environmental and social characteristics within the meaning of Article 8 of the SFDR, it does not currently commit to investing in any “sustainable investments” within the meaning of the SFDR. Accordingly, it should be noted that the investments underlying the Fund do not take into account the EU criteria for environmentally sustainable economic activities within the meaning of the Taxonomy Regulation.

Sustainable Investments

While the Fund promotes environmental and social characteristics within the meaning of Article 8 of the SFDR, it does not currently commit to investing in any “sustainable investments” within the meaning of the SFDR.

Further information on LGIM's Sustainable Investment Methodology can be found here.

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 1: GHG emissions
  • PAI 2: Carbon footprint
  • PAI 3: GHG intensity of companies
  • PAI 4: Exposure to fossil fuel companies
  • PAI 5: Share of non-renewable energy
  • PAI 6: Energy consumption intensity
  • PAI 7: Activities negatively affecting biodiversity-sensitive areas
  • PAI 8: Emissions to water
  • PAI 9: Hazardous waste
  • PAI 10: Companies violating UNGC/OECD
  • PAI 11: Companies without policies on UNGC/OECD
  • PAI 12: Unadjusted gender pay gap
  • PAI 14: Controversial weapons


Change date

Trading information


NAV (Mark to Market)
Price time
17:00 Irish time
NAV (Mark to Market)
Price time
17:00 Irish time
NAV (Mark to Market)
Price time
17:00 Irish time

For valuations and account queries contact:

Legal & General (Unit Trust Managers) Limited
PO Box 6080
Tel : 0370 050 0955
Email: [email protected]

Legal & General ICAV
LGIM Liquidity Funds Plc

Northern Trust International Fund Administration Services (Ireland) Limited
City East Plaza - Block A
Ballysimon Road
V94 X2N9
Fax: +353 1 434 5293
Telephone: +353 1 434 5080
Email: [email protected]

Legal & General SICAV
Northern Trust Global Services SE
10 Rue du Château d'Eau
L-3364 Leudelange
Grand-Duché de Luxembourg
Facsimile: +352 28 294 454
Telephone: +352 28 294 123
Email: [email protected]

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 no guarantee of future results.

This fund holds bonds that are traded through agents, brokers or investment banks matching buyers and sellers. This makes the bonds less easy to buy and sell than investments traded on an exchange. In exceptional circumstances the fund may not be able to sell bonds and may defer withdrawals, or suspend dealing. The Directors can only delay paying out if it is in the interests of all investors and with the permission of the fund depositary.

The fund invests directly or indirectly in bonds which are issued by companies or governments. If these companies or governments experience financial difficulty, they may be unable to pay back some or all of the interest, original investment or other payments that they owe. If this happens, the value of the fund may fall.

The fund could lose money if any institution providing services such as acting as counterparty to derivatives or other instruments, becomes unwilling or unable to meet its obligations to the fund.

Shares in the fund are not the same as deposits. The amount invested in the fund may fluctuate up or down and you bear the risk of any loss of investment. The fund is not protected by any national deposit protection scheme.

Investment returns on bonds are sensitive to trends in interest rate movements. Such changes will affect the value of your investment.

Important information

This information is intended for investment professionals only and is for information purposes only. It should not be distributed without our permission.

No investment decisions should be made without first reviewing the key investor information document and prospectus (and any supplements thereto) of the relevant product which includes information on certain risks associated with an investment.

Unless otherwise agreed in writing, the Information on this website (a) is for information purposes only and we are not soliciting any action based on it, and (b) is not a recommendation to buy or sell securities or pursue a particular investment strategy; and (c) is not investment, legal, regulatory or tax advice. Any trading or investment decisions taken by you should be based on your own analysis and judgment (and/or that of your professional advisers) and not in reliance on us or the Information.

This information is only directed at investors resident in jurisdictions where each fund is 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.

All information detailed on this website is current at the time of publication and may be changed in the future.

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


Issued by Legal & General Investment Management Limited as promoter and distributor for this fund in the UK.

Legal & General Investment Management Limited has been appointed as the discretionary investment manager for these Funds and is Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised and regulated by the Financial Conduct Authority, No. 119272.