ESG Paris Aligned World Equity Index Fund
Unit-Linked Life Insurance
ESG Paris Aligned World Equity Index Fund
Fund codeGPGN
Fund codeGPGN
Fund aim
The fund aims to provide low carbon exposure in view of achieving the long-term global warming objectives of the Paris Agreement which it aims to achieve by providing exposure to the Solactive L&G Developed Markets Paris Aligned ESG SDG Index
Fund characteristics
The fund achieves its exposure by purchasing shares in the L&G ESG Paris Aligned World Equity Index Fund, a sub fund of the Legal & General Common Contractual Scheme (“L&G CCF”), which is an Irish tax transparent vehicle.
The underlying fund is passively managed and aims to track the performance of the Index. The Index incorporates specific objectives related to lower greenhouse gas emissions with the view of achieving the long-term global warming objectives of the Paris Agreement (by meeting the minimum requirements of the EU Paris Aligned Benchmark Regulations). In addition, the Index is designed to comply with the principles of the United Nation Global Compact, a United Nations pact to encourage businesses worldwide to adopt sustainable and socially responsible policies. The Index also tilts towards shares in companies that demonstrate good environmental, social and governance efforts and socially responsible policies.
The underlying fund invests in equities which are constituents of the index. A sampling approach is used to ensure that the underlying fund exhibits similar characteristics as the index whilst not necessarily holding all the constituents.
LGIM has made a commitment to address climate change by engaging directly with the largest companies in the world who are critical to the shift to a low carbon economy. Companies will be assessed by LGIM for robustness of their strategies, governance and transparency via LGIM’s Climate Impact Pledge. Companies that fail to meet LGIM’s minimum standards in low carbon transition and corporate governance standards may be excluded from the underlying fund.
The underlying fund is passively managed and aims to track the performance of the Index. The Index incorporates specific objectives related to lower greenhouse gas emissions with the view of achieving the long-term global warming objectives of the Paris Agreement (by meeting the minimum requirements of the EU Paris Aligned Benchmark Regulations). In addition, the Index is designed to comply with the principles of the United Nation Global Compact, a United Nations pact to encourage businesses worldwide to adopt sustainable and socially responsible policies. The Index also tilts towards shares in companies that demonstrate good environmental, social and governance efforts and socially responsible policies.
The underlying fund invests in equities which are constituents of the index. A sampling approach is used to ensure that the underlying fund exhibits similar characteristics as the index whilst not necessarily holding all the constituents.
LGIM has made a commitment to address climate change by engaging directly with the largest companies in the world who are critical to the shift to a low carbon economy. Companies will be assessed by LGIM for robustness of their strategies, governance and transparency via LGIM’s Climate Impact Pledge. Companies that fail to meet LGIM’s minimum standards in low carbon transition and corporate governance standards may be excluded from the underlying fund.
Fund facts
| Fund size | £1,367.2m |
| Base currency | GBP |
| Domicile | United Kingdom |
| Share class launch | 23/05/23 |
As at 31 Dec 2023
Benchmark
Solactive L&G Developed Markets Paris Aligned ESG SDG Index (net WHT)
A custom index calculated by Solactive based on ESG criteria selected by LGIM
Performance
Source: LGIM. Performance is reported in GBP based on weekly mid-market prices before the deduction of fees. Withholding tax rates applied to the index by the index provider are generally higher than those the fund incurs
The dealing cycle of the underlying fund may be inconsistent with PMC’s and therefore the Fund may transact in the underlying fund on a different date or point in time. This may impact the performance of the fund when compared to the underlying fund and the index.
The dealing cycle of the underlying fund may be inconsistent with PMC’s and therefore the Fund may transact in the underlying fund on a different date or point in time. This may impact the performance of the fund when compared to the underlying fund and the index.
Past performance is not a guide to future performance and the value of investments can go down as well as up.
Share class launch date:23 May 2023
Benchmark:Solactive L&G Developed Markets Paris Aligned ESG SDG Index (net WHT)
Year
Share class launch date:23 May 2023
Benchmark:Solactive L&G Developed Markets Paris Aligned ESG SDG Index (net WHT)
Share class launch date:23 May 2023
Benchmark:Solactive L&G Developed Markets Paris Aligned ESG SDG Index (net WHT)
Source: LGIM. Performance is reported in GBP based on daily close mid-market prices before the deduction of fees. Withholding tax rates applied to the index by the index provider are generally higher than those the fund incurs
The dealing cycle of the underlying fund may be inconsistent with PMC’s and therefore the Fund may transact in the underlying fund on a different date or point in time. This may impact the performance of the fund when compared to the underlying fund and the index.
The dealing cycle of the underlying fund may be inconsistent with PMC’s and therefore the Fund may transact in the underlying fund on a different date or point in time. This may impact the performance of the fund when compared to the underlying fund and the index.
Past performance is not a guide to future performance and the value of investments can go down as well as up.
Share class launch date:23 May 2023
Benchmark:Solactive L&G Developed Markets Paris Aligned ESG SDG Index (net WHT)
Year
Share class launch date:23 May 2023
Benchmark:Solactive L&G Developed Markets Paris Aligned ESG SDG Index (net WHT)
Portfolio breakdown
As at 31 Dec 2023
| Top 10 holdings | 26.5% |
|---|---|
| Rest of portfolio | 73.5% |
| No. of holdings in fund | 1,124 |
|---|---|
| No. of holdings in index | 1,127 |
Top 10 holdings (%)
| Microsoft | 7.9 |
| Apple | 6.8 |
| Nvidia | 3.3 |
| Meta Platforms A | 1.6 |
| Alphabet A | 1.4 |
| Broadcom | 1.3 |
| Alphabet C | 1.2 |
| Visa | 1.0 |
| Eli Lilly & Co | 1.0 |
| Unitedhealth Group | 1.0 |
Sector (%)
Communications & Tech | 38.3 |
Consumer Non-cyclical | 26.5 |
Consumer Cyclical | 9.2 |
Banks (Equity) | 6.6 |
Industrials | 5.8 |
Property | 4.3 |
Financial Services (Equity) | 3.5 |
Insurance (Equity) | 2.4 |
Commodities | 2.3 |
Other | 1.1 |
| Top 10 holdings | 26.5% |
|---|---|
| Rest of portfolio | 73.5% |
| No. of holdings in fund | 1,124 |
|---|---|
| No. of holdings in index | 1,127 |
Top 10 holdings (%)
| Microsoft | 7.9 |
| Apple | 6.8 |
| Nvidia | 3.3 |
| Meta Platforms A | 1.6 |
| Alphabet A | 1.4 |
| Broadcom | 1.3 |
| Alphabet C | 1.2 |
| Visa | 1.0 |
| Eli Lilly & Co | 1.0 |
| Unitedhealth Group | 1.0 |
Sector (%)
Communications & Tech | 38.3 |
Consumer Non-cyclical | 26.5 |
Consumer Cyclical | 9.2 |
Banks (Equity) | 6.6 |
Industrials | 5.8 |
Property | 4.3 |
Financial Services (Equity) | 3.5 |
Insurance (Equity) | 2.4 |
Commodities | 2.3 |
Other | 1.1 |
Market capitalisation (%)
Large | 85.5 |
Mid | 12.6 |
Small | 1.9 |
Undefined | - |
Country (%)
United States | 65.6 |
Japan | 7.3 |
Switzerland | 3.6 |
United Kingdom | 3.2 |
Germany | 2.7 |
France | 2.5 |
Australia | 2.2 |
Ireland | 2.0 |
Canada | 2.0 |
Other | 9.1 |
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
Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close or daily close basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
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