PMCs

Unit-Linked Life Insurance

MSCI UK Equity Index ESG Exclusions Fund

Fund codeUPAS

Fund aim

The investment objective of the fund is currently to track the performance of the MSCI United Kingdom IMI ex Selected Securities 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. This is a customised index comprising securities from the MSCI United Kingdom Index from which companies on the L&G Future World Protection list are screened out. This list includes companies that are involved in, and derive parts of their revenues from areas such as controversial weapons and pure coal mining, and certain companies that do not comply with the United Nations Global Compact screening criteria. A summary of the L&G Future World Protection List Methodology is available at: www.lgim.com/fwpl. In addition, within the tracking deviation, the fund may exclude additional companies in line with LGIM’s view as to minimum corporate standards and environmental policies. For additional information on the exclusions, please contact your LGIM representative.

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£2,619.5m
Base currencyGBP
DomicileUnited Kingdom
Share class launch23/06/21
As at 31 Dec 2023

Benchmark

MSCI United Kingdom IMI ex Selected Securities Index

A custom index calculated by MSCI 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
Please note that the name of the fund has been updated to include "MSCI" to mirror the underlying benchmark
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 Jun 2021
Benchmark:MSCI United Kingdom IMI ex Selected Securities Index
Share class launch date:23 Jun 2021
Benchmark:MSCI United Kingdom IMI ex Selected Securities Index
    Share class launch date:23 Jun 2021
    Benchmark:MSCI United Kingdom IMI ex Selected Securities Index

    Portfolio breakdown

    As at 31 Dec 2023

    Top 10 holdings42.6%
    Rest of portfolio57.4%
    No. of holdings in fund321
    No. of holdings in index322

    Top 10 holdings (%)

    Shell7.8
    AstraZeneca7.5
    HSBC Holdings5.7
    Unilever4.4
    BP 3.7
    Rio Tinto3.0
    Diageo2.9
    GSK2.7
    RELX Group2.7
    Glencore2.3

    Sector (%)

    Financials
    		18.7
    Consumer Staples
    		15.6
    Industrials
    		13.5
    Energy
    		11.8
    Health Care
    		11.5
    Materials
    		10.1
    Consumer Discretionary
    		7.6
    Utilities
    		3.9
    Communication Services
    		3.1
    Other
    		4.3

    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.

    Download full price history

    Monthly price history

    Download full price history

    Important information

    All performance periods over a year will be annualised.

    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 Information Document, the Key Features Document and Description of Funds 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.

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

    Following the imposition of sanctions on Russian securities and assets being removed from indices the market has been effectively frozen for foreign investors and all equity positions have been marked to zero in line with LGIM’s fair value pricing policy. Regardless of being priced at zero LGIM funds may still own these securities and any value realised in the future will be for the sole benefit of the relevant fund. LGIM will seek to divest from such securities at such a time that market conditions allow consistent with our fiduciary duties and applicable sanctions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal and General Assurance (Pensions 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.

    Issuer

    Information for all Pension and Life Funds is issued by Legal and General Assurance (Pensions Management) Limited (‘PMC’). It is a life insurance company which carries on linked insurance business. As part of that business, it holds investments divided into separate sub-funds known as PF Sections. The value of each Policy that it issues is determined by reference to the value of one or more of the PF Sections. Legal & General Investment Management Limited, has been appointed as the investment manager of these PF Sections and is authorised and regulated by the Financial Conduct Authority. LGIM also provides investment and marketing services to PMC.

    Legal and General Assurance (Pensions Management) Limited is Registered in England and Wales No. 01006112.  Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, No. 202202.

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