ICAV (UCITS compliant)

L&G 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
$2,418.2m
Base currency
USD
Launch date
24 Mar 2017
Domicile
Ireland
Share class launch

Statistics

Modified duration
5.30 years
Gross redemption yield (unhedged)
4.55%

As at 31 May 2020

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 (the "Index").

Benchmark

JPMorgan GBI-EM Global Diversified Local Currency Index

  • What does it invest in? Invests primarily in bonds that make up the index, issued by governments of developing countries, denominated in their local currency. These bonds will be a mixture of sub-investment grade (higher risk), investment grade (lower risk) and non-rated bonds. The Fund may also use derivatives.
  • How does it invest? Passively managed, aiming to replicate the performance of the index.

Fund updates

Performance

Source: Lipper

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 May 2020

    CumulativeFundBenchmark
    1 month3.433.57
    6 months-4.74-4.34
    Year to date-6.75-6.48
    3 years--
    5 years--
    Since launch7.719.37
    AnnualisedFundBenchmark
    1 year1.432.23
    3 years--
    5 years--
    Since launch3.844.66

    As at 31 Mar 2020

    CumulativeFundBenchmark
    Quarterly-13.50-13.26
    Year to date-13.50-13.26
    3 years--
    5 years--
    Since launch-0.081.44
    AnnualisedFundBenchmark
    1 year-5.24-4.33
    3 years--
    5 years--
    Since launch-0.040.80
    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-----5.25
    Benchmark-----4.34

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund----14.64
    Benchmark----15.56

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund1.43--3.84
    Benchmark2.23--4.66

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-5.24---0.04
    Benchmark-4.33--0.80

    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 JPY (Unhedged) Acc unit class in JPY, 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 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 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 (%)

    MXN10.4
    IDR9.7
    BRL9.6
    THB9.1
    PLN9.0
    RUB8.9
    ZAR7.6
    MYR6.7
    COP5.8
    Other23.2

    Years to maturity (%)

    0 to 541.4
    5 to 1034.2
    10 to 1513.1
    15 to 206.1
    20 to 252.3
    25 to 302.0
    Not Classified0.8

    Credit rating (%)

    AA4.7
    A+1.6
    A21.8
    A-0.1
    BBB51.1
    BBB-0.2
    BB20.6
    Top 10 holdings12.5
    Rest of portfolio87.5
    No. of issuers in fund20
    No. of issuers in index20

    Top 10 holdings (%)

    Brazil 10.0% 01 Jan 20232.0
    Brazil 10.0% 01 Jan 20251.5
    Brazil 0% 01 Jul 20231.5
    South Africa Gov Bond 10.5% 21-Dec-20261.4
    Brazil 10.0% 01 Jan 20271.1
    Mexico Bonos 7.5% 20271.0
    Mexico Bonos 10% 05-Dec-20241.0
    Colombia 6% 28-Apr-20281.0
    Colombia 7% 04-May-20221.0
    Mexico Bonos 8.5% 20291.0

    Country (%)

    Mexico10.4
    Indonesia9.7
    Brazil9.6
    Thailand9.1
    Poland9.0
    Russia8.9
    South Africa7.6
    Malaysia6.7
    Colombia5.8
    Other23.2

    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

    Fact sheets

    2020Change date
    Fact sheet
    Choose share class

    Trading information

    Prices

    This share class is not currently pricing.
    This share class is not currently pricing.
    Name
    I EUR Acc
    Mid price
    107.57c
    Change (%)
    0.410716
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    I EUR Inc
    Mid price
    95.25c
    Change (%)
    -1.773744
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    C EUR Acc
    Mid price
    103.90c
    Change (%)
    0.405876
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    C USD Acc
    Mid price
    95.13c
    Change (%)
    0.666667
    Currency
    USD
    Price time
    22:30 Irish time
    Name
    C USD Inc
    Mid price
    95.72c
    Change (%)
    -1.583385
    Currency
    USD
    Price time
    22:30 Irish time
    Name
    C CHF Acc
    Mid price
    9.46
    Change (%)
    0.401206
    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
    104.23c
    Change (%)
    0.404585
    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
    101.52c
    Change (%)
    0.41543
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    Z EUR Inc
    Mid price
    92.81c
    Change (%)
    -1.892178
    Currency
    EUR
    Price time
    22:30 Irish time
    Name
    Z CHF Acc
    Mid price
    9.54
    Change (%)
    0.401915
    Currency
    CHF
    Price time
    22:30 Irish time
    Name
    Z JPY Acc
    Mid price
    ¥99.32
    Change (%)
    0.336308
    Currency
    JPY
    Price time
    22:30 Irish time

    Further details

    Costs

    Price basis
    Single - dilution levy
    Initial charge
    0.00%
    Ongoing charges figure
    0.30%
    Dilution levy
    0.428%- round trip
    Entry Anti-Dilution Levy
    0.21%
    Exit Anti-Dilution Levy
    0.21%

    Codes

    ISIN
    IE00BD6FXD30
    SEDOL
    BD6FXD3
    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

    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
    City East Plaza - Block A
    Towlerton
    Ballysimon Road
    Limerick
    Ireland
    V94 X2N9
    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

    Issued by LGIM Managers (Europe) Limited as management company for this fund. Registered in Ireland No. 609677. Registered Office: 33/34 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Authorised and Regulated by the Central Bank of Ireland No. C173733.

    Legal & General Investment Management Limited has been appointed as the discretionary investment manager for these Funds and 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 2020, J.P. Morgan Chase & Co. All rights reserved.