PMCs

Unit-Linked Life Insurance

Low Carbon Transition Europe (ex UK) Equity Index Fund

Fund codeEPAS

Fund aim

The investment objective of the fund is to track the performance of the Solactive L&G Low Carbon Transition Europe ex UK Index (less withholding tax where applicable) to within +/-0.60% p.a. for two years out of three.

Fund characteristics

The fund employs an index tracking strategy, aiming to replicate the performance of its benchmark. The index aims to reduce carbon intensity by 70% relative to the starting universe at the outset and on a path to achieve net zero by 2050 and fossil fuel exposure whilst improving green revenues and delivering dynamic de-carbonisation As part of LGIM’s commitment to address climate change, companies that fail to meet LGIM’s minimum standards in low carbon transition and corporate governance standards may be excluded from the fund, as a result the fund may not hold all of the constituents of the index.
We follow a pragmatic approach to managing index funds, either investing directly in the securities of that index, or indirectly through other LGIM funds. The fund may also hold index and single stock futures for efficient portfolio management.

Fund facts

Fund size£1,724.2m
Base currencyGBP
DomicileUnited Kingdom
Share class launch11/05/21
As at 31 Dec 2023

Benchmark

Solactive L&G Low Carbon Transition Europe ex UK Index

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
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:11 May 2021
Benchmark:Solactive L&G Low Carbon Transition Europe ex UK Index
Share class launch date:11 May 2021
Benchmark:Solactive L&G Low Carbon Transition Europe ex UK Index
    Share class launch date:11 May 2021
    Benchmark:Solactive L&G Low Carbon Transition Europe ex UK Index

    Portfolio breakdown

    As at 31 Dec 2023

    Top 10 holdings28.2%
    Rest of portfolio71.8%
    No. of holdings in fund384
    No. of holdings in index385

    Top 10 holdings (%)

    Novo Nordisk B4.5
    Nestle4.1
    ASML4.0
    Roche Holding2.9
    Lvmh Moet Hennessy Louis Vuitton2.9
    Novartis2.7
    SAP2.1
    Siemens1.9
    Schneider Electric1.6
    L'Oreal1.5

    Sector (%)

    Consumer Non-cyclical
    28.6
    Industrials
    15.7
    Consumer Cyclical
    14.8
    Communications & Tech
    14.0
    Banks (Equity)
    10.8
    Insurance (Equity)
    5.7
    Financial Services (Equity)
    2.7
    Commodities
    2.4
    Energy
    2.3
    Other
    3.0

    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 headshot

    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

    Prices

    Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close, daily close, or daily midday basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.

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    Monthly price history

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