ICAV (UCITS compliant)

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

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

Fund facts

Fund size
$593.1m
Base currency
USD
Launch date
31 Jan 2019
Domicile
Ireland
Share class launch

Statistics

Modified duration
5.38 years
Gross redemption yield (unhedged)
4.23%

As at 31 May 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 GBI-EM Global Diversified Local Currency Index (the “Index”).

Benchmark

JPMorgan ESG GBI-EM Global Diversified Local Currency Index

  • What does it invest in? Invests primarily in bonds issued in the relevant national currency 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

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 May 2020

    CumulativeFund
    1 month3.18
    6 months-
    Year to date-6.03
    3 years-
    5 years-
    Since launch-5.13
    AnnualisedFund
    1 year-
    3 years-
    5 years-
    Since launch-10.70

    As at 31 Mar 2020

    CumulativeFund
    Quarterly-12.47
    Year to date-12.47
    3 years-
    5 years-
    Since launch-11.63
    AnnualisedFund
    1 year-
    3 years-
    5 years-
    Since launch-33.89
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 31 March 2016 2017 2018 2019 2020
    Fund-----

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund-----

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund----10.70

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund----33.89

    Performance for the C EUR (Unhedged) Acc unit class in EUR, launched on 07 June 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 C GBP (Unhedged) Acc unit class in GBP, launched on 11 June 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 (Unhedged) Acc unit class in EUR, launched on 21 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 I EUR (Unhedged) Inc unit class in EUR, launched on 13 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 I GBP (Unhedged) Acc unit class in GBP, launched on 21 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 I USD Acc unit class in USD, launched on 31 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 (Unhedged) 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 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 GBP (Unhedged) Acc unit class in GBP, launched on 10 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 Z USD Acc unit class in USD, launched on 02 July 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.

    Portfolio

    As at 31 May 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 (%)

    PLN10.2
    MXN9.9
    IDR9.3
    BRL9.2
    THB8.6
    MYR8.4
    CZK7.4
    ZAR7.2
    COP5.6
    Other24.2

    Years to maturity (%)

    0 to 540.7
    5 to 1036.5
    10 to 1512.6
    15 to 205.8
    20 to 252.3
    25 to 301.8
    Not Classified0.4

    Credit rating (%)

    AA7.4
    A+1.0
    A25.2
    A-0.2
    BBB47.5
    BBB-0.3
    BB18.4
    Top 10 holdings14.4
    Rest of portfolio85.6

    Top 10 holdings (%)

    Brazil 0% 01 Jul 20231.8
    Mexico Bonos 6.5% 09-Jun-20221.5
    Brazil 10.0% 01 Jan 20251.5
    Poland 2.5% 25-Jan-20231.4
    Poland 2.5% 25-Jul-20261.4
    Poland 2.25% 25 Apr 20221.4
    Poland 2.5% 25-Apr-20241.4
    Colombia 6.25% 26-Nov-20251.3
    Brazil 10.0% 01 Jan 20231.3
    Czech Republic Gov Bond 0.45% 20231.3

    Country (%)

    Poland10.2
    Mexico9.9
    Indonesia9.3
    Brazil9.2
    Thailand8.6
    Malaysia8.4
    Czech Republic7.4
    South Africa7.2
    Colombia5.6
    Other24.2

    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

    Literature

    Trading information

    Prices

    Name
    I GBP Acc
    Mid price
    105.10p
    Change (%)
    -0.199411
    Currency
    GBP
    Price time
    22:30 Irish time
    Name
    I EUR Acc
    Mid price
    101.04c
    Change (%)
    0.357569
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    I EUR Inc
    Mid price
    92.85c
    Change (%)
    -1.506312
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    I USD Acc
    Mid price
    95.94c
    Change (%)
    0.629327
    Currency
    USD
    Price time
    22:30 Irish time
    Name
    C GBP Acc
    Mid price
    100.41p
    Change (%)
    -0.198787
    Currency
    GBP
    Price time
    22:30 Irish time
    Name
    C EUR Acc
    Mid price
    101.38c
    Change (%)
    0.356365
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    K GBP Acc
    Mid price
    105.81p
    Change (%)
    -0.207488
    Currency
    GBP
    Price time
    22:30 Irish time
    Name
    K EUR Acc
    Mid price
    101.93c
    Change (%)
    0.364317
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    K EUR Inc
    Mid price
    106.68c
    Change (%)
    -0.633383
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    Z GBP Acc
    Mid price
    105.92p
    Change (%)
    -0.197871
    Currency
    GBP
    Price time
    22:30 Irish time
    Name
    Z EUR Acc
    Mid price
    102.29c
    Change (%)
    0.353184
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    Z USD Acc
    Mid price
    97.33c
    Change (%)
    0.620283
    Currency
    USD
    Price time
    22:30 Irish time

    Further details

    Costs

    Price basis
    Single - dilution levy
    Initial charge
    0.00%
    Ongoing charges figure
    0.32%
    Dilution levy
    0.428%
    Entry Anti-Dilution Levy
    0.21%
    Exit Anti-Dilution Levy
    0.21%

    Codes

    ISIN
    IE00BK51XG40
    SEDOL
    -
    Bloomberg
    -
    MEX
    -

    Dealing information

    Valuation frequency
    Daily, 22:30 Irish time
    Dealing frequency
    Each Irish and UK Business Day
    Settlement period
    T+2
    Administrator/Custodian
    Northern Trust

    Country registration

    This share class is registered for sale in the following countries: