ICAV (UCITS compliant)

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

Fund facts

Fund size
$1,684.8m
Base currency
USD
Launch date
24 Mar 2017
Domicile
Ireland
Share class launch

Statistics

Modified duration
5.20 years
Gross redemption yield (unhedged)
6.19%

As at 30 Apr 2019

Fund aim

The fund aims to track the performance of the Emerging Markets government bond market as represented by the JPMorgan GBI-EM Global Diversified Local Currency Index.

Benchmark

JPM GBI-EM Global Diversified Composite Unhedged EUR Index

  • Aims to track the performance of the JPMorgan GBI-EM Global Diversified Local Currency Index
  • Invests in bonds issued by governments in emerging markets, denominated in their local currency
  • Employs a straightforward, low-cost and pragmatic index replication approach

Fund updates

Performance

Source: Lipper

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Apr 2019

    Cumulative Fund Benchmark
    1 month 0.04 0.02
    6 months 7.79 8.18
    Year to date 4.70 4.80
    3 years - -
    5 years - -
    Since launch 5.50 6.06
    Annualised Fund Benchmark
    1 year - -
    3 years - -
    5 years - -
    Since launch 6.24 -

    As at 31 Mar 2019

    Cumulative Fund Benchmark
    Quarterly 4.66 4.78
    Year to date 4.66 4.78
    3 years - -
    5 years - -
    Since launch 5.46 6.04
    Annualised Fund Benchmark
    1 year - -
    3 years - -
    5 years - -
    Since launch 6.85 -
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 31 March 2015 2016 2017 2018 2019
    Fund - - - - -
    Benchmark - - - - -

    Calendar year performance (%)

    2014 2015 2016 2017 2018
    Fund - - - - -
    Benchmark - - - - -

    Monthly performance (%)

    Annualised performance (%)

    1 year 3 years 5 years Since launch
    Fund - - - 6.24
    Benchmark - - - -

    Annualised performance (%)

    1 year 3 years 5 years Since launch
    Fund - - - 6.85
    Benchmark - - - -

    Performance for the C CHF (Unhedged) Acc unit class in CHF, launched on 15 March 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 C EUR (Unhedged) Acc unit class in EUR, launched on 26 January 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 C USD Acc unit class in USD, launched on 15 March 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 C USD Inc unit class in USD, launched on 15 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 I EUR (Unhedged) Acc unit class in EUR, launched on 11 June 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 (Unhedged) Inc unit class in EUR, 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 K EUR (Unhedged) Acc unit class in EUR, launched on 07 March 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 K GBP (Unhedged) Acc unit class in GBP, launched on . 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 P EUR (Unhedged) Acc unit class in EUR, launched on . 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 (Unhedged) Acc unit class in CHF, launched on 27 February 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 24 March 2017. 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) Inc unit class in EUR, launched on 21 March 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 . 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 Apr 2019. 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 (%)

    BRL 10.0
    IDR 9.9
    MXN 9.9
    PLN 9.1
    ZAR 8.8
    THB 8.6
    RUB 7.7
    COP 7.3
    MYR 6.1
    Other 22.7

    Years to maturity (%)

    0 to 5 43.0
    5 to 10 32.0
    10 to 15 13.3
    15 to 20 6.6
    20 to 25 2.9
    25 to 30 2.1
    Unclassified 0.2

    Credit rating (%)

    AA 4.4
    A 27.0
    BBB 38.7
    BB 16.5
    NA 5.0
    NR 8.5
    Top 10 holdings 13.8
    Rest of portfolio 86.2
    No. of issuers in fund 19
    No. of issuers in index 19

    Top 10 holdings (%)

    Colombia 7.0% 2022 2.3
    South Africa Government Bond 10.5% 2026 1.5
    Brazil 0.0% 2020 1.5
    Brazil 0.0% 2021 1.4
    South Africa 8.75% Feb 2048 1.3
    Brazil 10.0% 2023 1.3
    Brazil 10.0% 2027 1.2
    Mexico Bonos 6.5% 2021 1.1
    Brazil 10.0% 2025 1.1
    Colombia 6.00% COLTE April 2028 1.1

    Country (%)

    Brazil 10.0
    Indonesia 9.9
    Mexico 9.9
    Poland 9.1
    South Africa 8.8
    Thailand 8.6
    Russia 7.7
    Colombia 7.3
    Malaysia 6.1
    Other 22.7

    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.

    LGIM Index Fund Management Team

    Literature

    Prices

    This share class is not currently pricing.
    This share class is not currently pricing.
    Name
    I EUR Acc
    Mid price
    108.16c
    Change (%)
    0.417789
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    I EUR Inc
    Mid price
    101.28c
    Change (%)
    0.416419
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    C EUR Acc
    Mid price
    104.36c
    Change (%)
    0.41374
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    C USD Acc
    Mid price
    95.25c
    Change (%)
    -0.010498
    Currency
    USD
    Price time
    22:30 Irish time
    Name
    C USD Inc
    Mid price
    102.68c
    Change (%)
    -0.009738
    Currency
    USD
    Price time
    22:30 Irish time
    Name
    C CHF Acc
    Mid price
    10.00
    Change (%)
    0.351067
    Currency
    CHF
    Price time
    22:30 Irish time
    Name
    n/a
    Mid price
    n/a
    Change (%)
    n/a
    Currency
    n/a
    Price time
    n/a
    Name
    K EUR Acc
    Mid price
    104.61c
    Change (%)
    0.412747
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    n/a
    Mid price
    n/a
    Change (%)
    n/a
    Currency
    n/a
    Price time
    n/a
    Name
    Z EUR Acc
    Mid price
    101.81c
    Change (%)
    0.414242
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    Z EUR Inc
    Mid price
    100.33c
    Change (%)
    0.410328
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    Z CHF Acc
    Mid price
    10.08
    Change (%)
    0.350538
    Currency
    CHF
    Price time
    22:30 Irish time

    Further details

    Costs

    Price basis
    Single - dilution levy
    Initial charge
    0.00%
    Ongoing charges figure
    0.35%
    Dilution levy
    0.3%- round trip
    Entry Anti-Dilution Levy
    0.15%
    Exit Anti-Dilution Levy
    0.15%

    Codes

    ISIN
    IE00BD6FXD30
    SEDOL
    BD6FXD30
    Bloomberg
    LGEGLIE ID
    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
    Spreads are effective from 22 May 2019.

    Country registration

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

    For valuations and account queries contact:

    Legal & General ICAV
    LGIM Liquidity Funds Plc

    Northern Trust International Fund Administration Services (Ireland) Limited
    George’s Court, 54-62 Townsend Street
    Dublin 2, Ireland.
    Fax: +353 1 434 5293
    Telephone: +353 1 434 5080
    Email: [email protected]

    Legal & General SICAV
    Northern Trust Global Services SE
    6 rue Lou Hemmer
    L-1748 Senningerberg
    Grand-Duché de Luxembourg
    Facsimile: +352 276 222 150
    Telephone: +352 276 222 514
    Email: [email protected]

    Key risks

    The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested.

    Past performance is no guarantee of future results.

    Important information

    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 investor information document and prospectus (and any supplements thereto) 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.

    This information is only directed at investors resident in jurisdictions where each fund is registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

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

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment 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 Collectives is issued by Legal & General Investment Management Limited (‘LGIM’). It is a MiFID II compliant investment management firm that acts as Promoter and Distributor to a range of EU domiciled UCITS umbrella companies and a range of UK domiciled UCITS and Non UCITS Retail Schemes. LGIM also acts has been appointed as the Investment Manager of these funds.

    Legal & General Investment Management Limited is Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised and regulated by the Financial Conduct Authority, No. 119272

    Index disclaimer

    Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan's prior written approval. Copyright 2018, J.P. Morgan Chase & Co. All rights reserved.