ICAV (UCITS compliant)

L&G ESG Emerging Markets Government Bond (USD) Index Fund

Important Due to exceptional market conditions, spreads are currently volatile and may be subject to frequent change.

Fund facts

Fund size
$1,475.6m
Base currency
USD
Launch date
6 Dec 2018
Domicile
Ireland
Share class launch

Statistics

Modified duration
8.10 years
Gross redemption yield (unhedged)
4.57%

As at 30 Jun 2020

Fund aim

The investment objective of the Fund is to provide investors with a return in line with the Emerging Markets government bond market, as represented by the JPMorgan ESG Emerging Markets Bond Index (EMBI) Global Diversified (the “Index”).

Benchmark

JPMorgan ESG Emerging Markets Bond Index (EMBI) Global Diversified Index

  • What does it invest in? Invests primarily in bonds issued in US dollars by governments of developing countries as determined by the index. These bonds will be a mixture of sub-investment grade (higher risk), investment grade (lower risk) and non-rated bonds. The index includes only bonds that meet the index provider’s socially responsible investing (“SRI”) requirements and environmental, social and governance (“ESG”) rating criteria. The fund may also use derivatives.
  • How does it invest? Passively managed, aiming to replicate the performance of the index.

Performance

Source: Lipper

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Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Jun 2020

    CumulativeFundBenchmark
    1 month3.283.47
    6 months5.545.15
    Year to date5.545.15
    3 years--
    5 years--
    Since launch16.7516.70
    AnnualisedFundBenchmark
    1 year5.475.24
    3 years--
    5 years--
    Since launch10.6810.65

    As at 30 Jun 2020

    CumulativeFundBenchmark
    Quarterly11.0411.49
    Year to date5.545.15
    3 years--
    5 years--
    Since launch16.7516.70
    AnnualisedFundBenchmark
    1 year5.475.24
    3 years--
    5 years--
    Since launch10.6810.65
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    12 months to 30 June 2016 2017 2018 2019 2020
    Fund----5.49
    Benchmark----5.26

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund----11.03
    Benchmark----11.46

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund5.47--10.68
    Benchmark5.24--10.65

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund5.47--10.68
    Benchmark5.24--10.65

    Performance for the C EUR (Hedged) Acc unit class in EUR, launched on 17 January 2020. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the I EUR (Hedged) Acc unit class in EUR, launched on 21 December 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the I EUR (Hedged) Inc unit class in EUR, launched on 22 October 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the I GBP (Unhedged) Inc unit class in GBP, launched on 21 December 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the I USD Acc unit class in USD, launched on 18 October 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the K EUR (Unhedged) Acc unit class in EUR, launched on 31 January 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the K EUR (Hedged) Acc unit class in EUR, launched on 31 January 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the K EUR (Hedged) Inc unit class in EUR, launched on 27 March 2020. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the K GBP (Unhedged) Acc unit class in GBP, launched on 12 April 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the K GBP (Hedged) Acc unit class in GBP, launched on 06 December 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the Z CHF (Hedged) Acc unit class in CHF, launched on 07 December 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the Z EUR (Unhedged) Acc unit class in EUR, launched on 04 March 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the Z EUR (Hedged) Acc unit class in EUR, launched on 04 March 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the Z GBP (Unhedged) Acc unit class in GBP, launched on 21 August 2019. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the Z GBP (Hedged) Acc unit class in GBP, launched on 21 December 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Performance for the Z USD Acc unit class in USD, launched on 06 December 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.

    Past performance is not a guide to the future.

    Portfolio

    As at 30 Jun 2020. 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.

    Currency (%)

    USD100.0

    Years to maturity (%)

    0 to 526.8
    5 to 1032.4
    10 to 156.7
    15 to 204.1
    20 to 258.1
    25 to 3017.6
    30 to 404.1
    Over 400.3

    Credit rating (%)

    AA9.2
    A+0.1
    A12.2
    BBB36.7
    BB17.9
    B19.7
    CCC0.8
    CC1.7
    C0.2
    Other1.6
    Top 10 holdings7.9
    Rest of portfolio92.1

    Top 10 holdings (%)

    Uruguay 5.1% 18 Jun 20501.5
    Uruguay 4.975% 20551.0
    Poland 5% 23 Mar 20220.8
    Qatar 5.103% 20480.8
    Peru 5.625% 18 Nov 20500.8
    Qatar 4.817% 20490.7
    Peru 8.75% 21 Nov 20330.7
    Colombia 5% 20450.6
    Uruguay 4.375% 20310.6
    Kuwait 3.5% 20270.6

    Country (%)

    United Arab Emirates5.3
    Uruguay5.0
    Saudi Arabia4.5
    Indonesia4.3
    Qatar4.2
    Panama4.2
    Philippines3.7
    Oman3.6
    Colombia3.5
    Other61.8

    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.

    LGIMIndex Fund Management Team

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