SICAV (UCITS compliant)

L&G Emerging Markets Short Duration Bond Fund

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

Fund facts

Fund size
$328.9m
Base currency
USD
Launch date
24 Oct 2016
Domicile
Luxembourg
Share class launch

Statistics

Modified duration
3.34 years
Gross redemption yield (unhedged)
4.67%

As at 29 Feb 2020

Fund aim

The objective of the Fund is to provide investors with a combination of growth and income above those of the Blended benchmark consisting of 50% JP Morgan EMBI Global Diversified 3-5 year Total Return Index and  50% JP Morgan CEMBI Broad Diversified 3-5 year Total Return Index, the "Benchmark Index". The Fund is actively managed and aims to outperform the Benchmark Index by 1.25% per annum. This objective is before the deduction of any charges and measured over rolling three year periods. The Fund targets an overall duration of approximately 3 years.

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 +1.25%

  • 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.

Further details

Costs

Price basis
Single swing
Initial charge
0.00%
Ongoing charges figure
0.74%
Dilution adjustment
1.878%- round trip
Swing factor
1.50%

Codes

ISIN
LU1961077978
SEDOL
-
Bloomberg
LGESIGB 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:

Fund updates

Performance

Source: Lipper

LIBOR is changing: read more on how future reforms of interbank offered rates may affect your investments with us.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 29 Feb 2020

    CumulativeFundBenchmark
    1 month-0.53-0.59
    6 months2.442.12
    Year to date0.380.27
    3 years--
    5 years--
    Since launch5.405.48
    AnnualisedFundBenchmark
    1 year--
    3 years--
    5 years--
    Since launch5.595.69

    As at 31 Dec 2019

    CumulativeFundBenchmark
    Quarterly1.651.53
    Year to date--
    3 years--
    5 years--
    Since launch5.015.19
    AnnualisedFundBenchmark
    1 year--
    3 years--
    5 years--
    Since launch6.27-
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

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

    Calendar year performance (%)

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

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund---5.59
    Benchmark---5.69

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund---6.27
    Benchmark----

    Performance for the I EUR (Hedged) Acc unit class in EUR, launched on 02 October 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the I GBP (Hedged) Dist unit class in GBP, launched on 13 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the I USD Acc unit class in USD, launched on 12 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the P EUR (Hedged) Acc unit class in EUR, launched on 04 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the P EUR (Hedged) Dist unit class in EUR, launched on 24 August 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the Z EUR (Unhedged) Acc unit class in EUR, launched on 30 May 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the Z EUR (Hedged) Acc unit class in EUR, launched on 20 July 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the Z GBP (Unhedged) Acc unit class in GBP, launched on 30 May 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the Z USD Acc unit class in USD, launched on 24 October 2016. 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Performance for the Z USD Dist unit class in USD, launched on 24 October 2016. 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. This fund has adopted a single swinging price, this means that on any given day the single dealing price will be set at either bid, offer or somewhere in between, based on whether there was a net inflow or outflow into or out of the Fund. The past performance depicted in this factsheet is based on that dealing price and therefore may appear more volatile than it would otherwise be if we were to show the notional bid or offer performance, this is as a result of the daily swing.

    Past performance is not a guide to the future.

    Portfolio

    As at 29 Feb 2020. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Currency (%)

    USD100.0
    Other0.0

    This is the currency breakdown before allowing for any hedging the fund may use. We aim to hedge the portfolio 100% back to the base currency.

    Top 10 issuers17.1
    Rest of portfolio82.9
    No. of issuers186

    Top 10 issuers (%)

    Kaisa Group Holdings Ltd2.4
    Ukraine2.2
    Republic of Turkey1.7
    Evergrande Real Estate Group Ltd1.6
    Republic of Iraq1.6
    Republic of Kenya1.6
    African Export-Import Bank1.5
    PGN Euro Finance Ltd1.5
    Dominican Republic1.5
    Saudi Electricity Co1.4

    Credit rating (%)

    FundBenchmarkRelative
    AAA0.0--
    AA0.63.4-2.8
    A8.315.4-7.1
    BBB30.732.0-1.3
    BB17.918.7-0.8
    B29.324.15.2
    Split Rated (B & CCC)0.60.50.1
    CCC and below2.11.90.2
    NR3.64.0-0.4
    Cash6.9-6.9

    Top sector over/underweights (%)

    FundBenchmarkRelative
    Cash and Equivalents6.3-6.3
    Real Estate7.92.75.2
    Utilities8.96.02.9
    Basic Materials8.27.01.2
    Other0.1-0.1
    Health Care1.31.30.0
    Consumer Goods2.02.1-0.1
    Telecommunications2.93.2-0.3
    Industrials2.53.0-0.5
    Technology0.00.6-0.6
    Consumer Services1.52.4-0.9
    Banks14.515.6-1.1
    Oil & Gas5.77.0-1.3
    Sovereign34.344.7-10.4

    Fund Manager

    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.

    UdayPatnaik

    Literature

    Fact sheets

    2020Change date
    Fact sheet
    Choose share class

    Trading information

    Prices

    This share class is not currently pricing.
    Name
    I GBP Hedged Dist
    Mid price
    95.00p
    Change (%)
    -
    Currency
    GBP
    Price time
    23:00 CET
    Name
    I EUR Hedged Acc
    Mid price
    98.78c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    I USD Acc
    Mid price
    100.07c
    Change (%)
    -
    Currency
    USD
    Price time
    23:00 CET
    Name
    P EUR Hedged Acc
    Mid price
    100.09c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    P EUR Hedged Inc
    Mid price
    94.83c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    Z GBP Acc
    Mid price
    116.59p
    Change (%)
    -
    Currency
    GBP
    Price time
    23:00 CET
    Name
    Z EUR Acc
    Mid price
    114.75c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    n/a
    Mid price
    n/a
    Change (%)
    n/a
    Currency
    n/a
    Price time
    n/a
    Name
    Z USD Acc
    Mid price
    116.81c
    Change (%)
    -
    Currency
    USD
    Price time
    23:00 CET
    Name
    Z USD Inc
    Mid price
    98.42c
    Change (%)
    -
    Currency
    USD
    Price time
    23:00 CET

    For valuations and account queries contact:

    Legal & General (Unit Trust Managers) Limited
    PO Box 6080
    Wolverhampton
    WV1 9RB
    Tel : 0370 050 0955
    Email: [email protected]

    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.