PMCs

Unit-Linked Life Insurance

Multi Factor Developed Europe (ex UK) ESG Exclusions Equity Fund

Fund codeMPAH

Fund aim

The investment objective of the fund is to provide long-term investment growth by investing in European equities, excluding the UK, and providing exposure to multiple equity risk-factors. This is achieved through tracking the performance of the benchmark, SciBeta Developed EMEA ex-UK High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index, (less withholding tax where applicable) to within +/- 1.0% per annum for two years out of three. Please see fund characteristics for further information.

Fund characteristics

The fund employs an index tracking strategy, aiming to replicate the performance of its benchmark, using a pragmatic approach.
This index is not market capitalisation weighted and is comprised of equities that exhibit the characteristics of certain equity risk factors (such as value, low volatility and quality comprising of high profitability and low investment) that have been shown to be rewarded over the long term. The index is determined by the LGIM Asset Allocation team who assess its appropriateness in the context of the Fund objective on annual basis and may revise the benchmark accordingly. Prior notification of benchmark changes will not be provided and this document will be updated to reflect the current benchmark.
Within the tracking deviation, the Fund excludes companies in line with LGIM’s view as to minimum corporate standards and LGIM Environmental, Social and Governance (“ESG”) research and aims to reduce its carbon footprint through the fund-level optimisation. The exclusion criteria are guided by, but not limited to, LGIM Future World Protection List with any potential exclusions assessed for financial materiality and alignment with the overall Fund objective. A summary of the L&G Future World Protection List Methodology is available at: www.lgim.com/fwpl.
The fund will gain exposure by investing directly or indirectly in the constituents of the benchmark. The fund may also hold index and single stock futures for efficient portfolio management.

Fund facts

Fund size£962.7m
Base currencyGBP
DomicileUnited Kingdom
Share class launch03/07/17
As at 31 Dec 2023

Benchmark

SciBeta Developed EMEA ex-UK High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index

A Developed Scientific Beta (SciBeta) Index. *High-Factor-Intensity, **Value, Volatility, Profitability/Investment, ***Maximum Deconcentration; Diversified Risk Weighted

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:03 Jul 2017
Benchmark:SciBeta Developed EMEA ex-UK High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index
Share class launch date:03 Jul 2017
Benchmark:SciBeta Developed EMEA ex-UK High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index
    Share class launch date:03 Jul 2017
    Benchmark:SciBeta Developed EMEA ex-UK High-Factor-Intensity Multi-Beta (val, vol, pro/inv) Multi-Strategy (Max Deconc, DRW) Index

    Portfolio breakdown

    As at 31 Dec 2023

    Top 10 holdings12.0%
    Rest of portfolio88.0%
    No. of holdings in fund176
    No. of holdings in index179

    Top 10 holdings (%)

    Prysmian1.3
    Beiersdorf1.3
    Kuehne + Nagel International1.2
    SAP1.2
    Michelin SCA1.2
    Novartis1.2
    Investor B1.2
    Koninklijke Ahold Delhaize1.2
    Totalenergies1.2
    Akzo Nobel1.1

    Sector (%)

    Financials
    24.7
    Industrials
    18.2
    Cyclical Consumer
    12.2
    Non-cyclical Consumer
    10.9
    Basic Materials
    10.2
    Healthcare
    9.4
    Technology
    8.0
    Energy
    3.4
    Telecoms Services
    1.6
    Other
    1.5

    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 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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