SICAV (UCITS compliant)

L&G Emerging Markets Short Duration Bond Fund

Fund facts

Fund size
$287.9m
Base currency
USD
Launch date
24 Oct 2016
Domicile
Luxembourg
Share class launch

Statistics

Modified duration
3.36 years
Gross redemption yield (unhedged)
4.69%

As at 31 Oct 2019

Fund aim

The Fund aims to provide investors with a combination of growth and income.

Benchmark

JP Morgan EMBI Global Diversified Index (Sovereign) 3-5yr / 50% JP Morgan CEMBI Broad Diversified 3-5yr Index

  • Aims to generate capital growth and income by investing in emerging market government and corporate bonds
  • Exposure to shorter dated bonds can help manage duration risk
  • Aims to capture attractive themes and opportunities as they emerge in a rapidly evolving asset class

Further details

Costs

Price basis
Single swing
Initial charge
0.00%
Ongoing charges figure
0.74%
Dilution adjustment
0.576%- round trip
Swing factor
0.288%

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

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Oct 2019

    Cumulative Fund Benchmark
    1 month 0.55 -
    6 months 3.46 -
    Year to date - -
    3 years - -
    5 years - -
    Since launch 3.87 -
    Annualised Fund Benchmark
    1 year - -
    3 years - -
    5 years - -
    Since launch 6.16 -

    As at 30 Sep 2019

    Cumulative Fund Benchmark
    Quarterly 0.37 -1.10
    Year to date - -
    3 years - -
    5 years - -
    Since launch 3.30 6.40
    Annualised Fund Benchmark
    1 year - -
    3 years - -
    5 years - -
    Since launch 6.08 -
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 30 September 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 - - - 6.16
    Benchmark - - - -

    Annualised performance (%)

    1 year 3 years 5 years Since launch
    Fund - - - 6.08
    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 31 Oct 2019. All data source LGIM unless otherwise stated. Totals may not sum due to rounding.

    Currency (%)

    USD 100.0
    Other 0.0

    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 issuers 18.2
    Rest of portfolio 81.8
    No. of issuers 171

    Top 10 issuers (%)

    Ukraine 3.1
    Kaisa Group Holdings Ltd 2.3
    Republic of Iraq 1.9
    Republic of Ecuador 1.7
    Romania 1.6
    Saudi Electricity Co 1.6
    Arab Republic of Egypt 1.6
    Republic Of Kenya 1.6
    Republic of Colombia 1.5
    Finance Department Government Of Sharjah 1.5

    Credit rating (%)

    Fund Benchmark Relative
    AAA 0.0 - -
    AA 1.8 3.8 -2.0
    A 8.7 13.9 -5.1
    BBB 33.0 32.5 0.5
    BB 15.8 16.9 -1.0
    B 27.6 23.7 4.0
    Split Rated (B & CCC) 1.3 2.0 -0.7
    CCC and below 2.4 2.3 0.1
    NR 4.1 5.0 -0.9
    Cash 5.2 - 5.2

    Top sector over/underweights (%)

    Fund Benchmark Relative
    Cash and Equivalents 5.3 - 5.3
    Real Estate 6.2 2.8 3.4
    Utilities 7.7 5.7 2.1
    Basic Materials 8.6 7.6 1.1
    Oil & Gas 6.0 5.3 0.7
    Industrials 2.6 2.6 0.1
    Health Care 1.1 1.1 -0.1
    Consumer Goods 1.3 1.9 -0.6
    Telecommunications 2.9 3.6 -0.7
    Other 0.3 1.5 -1.1
    Financial Services 2.8 4.2 -1.4
    Consumer Services 1.1 2.5 -1.4
    Sovereign 42.2 44.9 -2.7
    Banks 11.9 15.7 -3.9

    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.

    Uday Patnaik

    Literature

    Marketing documents

    Trading information

    Prices

    Name
    I GBP Hedged Dist
    Mid price
    100.70p
    Change (%)
    -
    Currency
    GBP
    Price time
    23:00 CET
    Name
    I EUR Hedged Acc
    Mid price
    102.41c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    I USD Acc
    Mid price
    102.21c
    Change (%)
    -
    Currency
    USD
    Price time
    23:00 CET
    Name
    P EUR Hedged Acc
    Mid price
    104.08c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    P EUR Hedged Inc
    Mid price
    100.45c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    Z GBP Acc
    Mid price
    113.44p
    Change (%)
    -
    Currency
    GBP
    Price time
    23:00 CET
    Name
    Z EUR Acc
    Mid price
    115.81c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    Z EUR Hedged Acc
    Mid price
    105.47c
    Change (%)
    -
    Currency
    EUR
    Price time
    23:00 CET
    Name
    Z USD Acc
    Mid price
    118.91c
    Change (%)
    -
    Currency
    USD
    Price time
    23:00 CET
    Name
    Z USD Inc
    Mid price
    102.72c
    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
    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.