L&G Emerging Markets Short Duration Bond Fund
SICAV (UCITS compliant)
L&G Emerging Markets Short Duration Bond Fund
I-Class EUR (Hedged) Accumulation
ISINLU1610875301
Price
ISINLU1610875301
Price
Fund aim
The objective of the Fund is to provide long term return consisting of a combination of capital growth and income. The Fund will seek to achieve its objective while maintaining a lower weighted average carbon intensity than the Benchmark Index.
The Fund is actively managed and seeks to achieve this objective by investing in a broad range of fixed income securities of which at least 80% will be issued in US Dollar, Sterling or Euro by Developing/Emerging Market governments and corporates.
Fund snapshot
- What does it invest in? Invests predominantly in fixed income securities with medium term maturity including bonds and other debt instruments, issued in a variety of currencies by companies and governments in emerging countries.
- How does it invest? Actively managed, investing in debt which is a mixture of investment grade (lower risk) and sub-investment grade (higher risk). May also invest in unrated bonds, other types of securities and derivatives.
- Does it promote sustainability characteristics? The Fund promotes a range of environmental and social characteristics. Further information on how such characteristics are met by the Fund can be found in the Supplement.
Fund facts
Fund size | $557.6m |
Base currency | USD |
Fund launch date | 24 Oct 2016 |
Domicile | Luxembourg |
Share class launch | 2 Oct 2017 |
Modified duration | 3.64 years |
Gross redemption yield (unhedged) | 8.49% |
Benchmark
Blended benchmark consisting of 50% JP Morgan EMBIG Div 3-5 year Total Return Index and 50% JP Morgan CEMBI BD 3-5 year Total Return Index
Costs
Initial charge | 0.00% |
Ongoing charges figure | 0.59% |
Dilution adjustment | 1% - round trip |
Performance
Performance scenarios
Example investment:10,000 EUR
Scenarios | 1 year | (Recommended holding period) 5 years | |
---|---|---|---|
Minimum | There is no minimum guaranteed return. You could lose some or all of your investment. | ||
Stress scenario | What you might get back after costs | 6,560EUR | 7,720EUR |
Average return each year (%) | -34.44 | -5.04 | |
Unfavourable scenario | What you might get back after costs | 8,080EUR | 8,840EUR |
Average return each year (%) | -19.24 | -2.44 | |
Moderate scenario | What you might get back after costs | 10,310EUR | 12,330EUR |
Average return each year (%) | 3.07 | 4.28 | |
Favourable scenario | What you might get back after costs | 12,030EUR | 21,060EUR |
Average return each year (%) | 20.30 | 16.07 |
There is no minimum guaranteed return. You could lose some or all of your investment.
Portfolio breakdown
As at 29 Feb 2024
Top 10 issuers | 18.7% |
---|---|
Rest of portfolio | 81.3% |
No. of issuers | 196 |
---|
Top 10 issuers (%)
Republic of Turkiye | 2.7 |
Romania | 2.3 |
Grupo Financiero BanorteB de CV | 2.0 |
Federal Republic of Nigeria | 1.8 |
GIC Pte | 1.7 |
Taiwan Semiconductor Manufacturing Co | 1.7 |
Standard Chartered | 1.7 |
Hungary | 1.6 |
Argentine Republic | 1.6 |
Dominican Republic | 1.6 |
Currency (%)
USD | 100.0 |
Other | 0.0 |
Top 10 issuers | 18.7% |
---|---|
Rest of portfolio | 81.3% |
No. of issuers | 196 |
---|
Top 10 issuers (%)
Republic of Turkiye | 2.7 |
Romania | 2.3 |
Grupo Financiero BanorteB de CV | 2.0 |
Federal Republic of Nigeria | 1.8 |
GIC Pte | 1.7 |
Taiwan Semiconductor Manufacturing Co | 1.7 |
Standard Chartered | 1.7 |
Hungary | 1.6 |
Argentine Republic | 1.6 |
Dominican Republic | 1.6 |
Currency (%)
USD | 100.0 |
Other | 0.0 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
AA | 1.9 | 0.5 | 1.4 | |
A | 7.3 | 2.0 | 5.2 | |
BBB | 14.2 | 8.6 | 5.6 | |
BB | 13.7 | 9.6 | 4.1 | |
B | 14.0 | 11.4 | 2.5 | |
CCC and below | 7.5 | 5.6 | 1.8 | |
NR | 41.0 | 62.2 | -21.2 | |
Cash | 0.5 | - | 0.5 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Banks | 18.6 | 12.1 | 6.5 | |
Consumer Services | 8.6 | 6.2 | 2.4 | |
Utilities | 7.6 | 6.8 | 0.8 | |
Technology | 2.9 | 2.1 | 0.8 | |
Cash and Equivalents | 0.5 | - | 0.5 | |
Oil & Gas | 8.8 | 8.4 | 0.4 | |
Insurance | 0.7 | 0.4 | 0.3 | |
Unknown | - | 0.0 | 0.0 | |
Health Care | 0.7 | 0.8 | 0.0 | |
Industrials | 3.3 | 3.7 | -0.4 | |
Consumer Goods | 1.2 | 1.8 | -0.6 | |
Basic Materials | 6.1 | 6.8 | -0.6 | |
Real Estate | 0.4 | 1.3 | -0.9 | |
Telecommunications | 1.7 | 3.2 | -1.5 | |
Financial Services | 0.6 | 2.2 | -1.6 | |
Sovereign | 38.2 | 44.3 | -6.2 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Uday Patnaik
Uday is responsible for developing LGIM’s emerging market capabilities within the Global Fixed Income team. Uday joined LGIM in April 2014 from Gulf International Bank (UK) Ltd where he held the title of Chief Investment Officer with primary responsibility for managing the flagship EMD hedge fund and other fixed income portfolios. Uday has an MBA in finance from the University of Chicago and a BSc degree in industrial management from Carnegie Mellon University.
Sustainability
SFDR categorisation
Article 8No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by the Fund.
Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by the Fund.
Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
The Fund seeks to implement LGIM’s Responsible Investment Framework which aims to provide a consistent and systematic approach to exclusions, refined criteria and thresholds for setting environmental and social characteristics with a defined terminology and approach to support the implementation of such characteristics across the financial products managed by LGIM.
The Responsible Investment Framework sets out the various types of investment strategies that LGIM’s financial products can follow and the responsible investing methodologies that explain how such investment strategies are defined and implemented.
The Fund follows the following sustainability-related investment strategy:
Literature
Document type
Prices
Pricing information
Price basis | Single swing |
Price time | 23:00 CET |
Currency | EUR |
Codes and dealing
Codes
ISIN | LU1610875301 |
SEDOL | - |
Bloomberg | LGESDIE LX |
MEX | - |
Dealing information
Valuation frequency | Daily, 23:00 CET |
Dealing frequency | Each Business Day |
Settlement period | T+3 |
Administrator/Custodian | Northern Trust |
Country registration
This share class is registered for sale in the following countries: