ETF (UCITS compliant)

L&G E Fund MSCI China A UCITS ETF

Fund facts

Fund size*
$29.4m
Base currency
USD
Listing date
19 May 2014
Domicile
Ireland
Index ticker
MBCN1A
Replication method
Physical - optimised

Statistics

*As at 21 Oct 2020

Fund aim

The L&G E Fund MSCI China A UCITS ETF (the "ETF") aims to track the performance of the MSCI China A Onshore Index (the "Index").

  • The Chinese domestic economy

Invest in the growing importance of the Chinese domestic economy

  • China "A" shares

Access a broad universe of Chinese A-shares

  • Efficient access

Enables efficient access to a basket of domestic stocks that may be difficult otherwise

MSCI China A Onshore Index

The Index is comprised of “A shares” issued by large and medium sized companies domiciled in the People’s Republic of China (the “PRC”) which are publically traded on the Shanghai and Shenzhen stock exchanges. A company is only eligible for inclusion in the Index if it is of a sufficient size (determined by reference to (1) the total market value of the company and (2) the proportion of its A shares that is deemed to be available for purchase in the public equity markets in the PRC, i.e. not subject to any restrictions or strategic ownership) and if its A shares are sufficiently “liquid” (a measure of how actively they are traded). Within the Index, each company is then weighted according to its relative size.

Index data

Provider
MSCI Inc.
Bloomberg code
MBCN1A
Reuters code
.dMICNA0000NUS
Type
Net Total Return
Website
www.msci.com/

Fund updates

Performance

Source: Lipper.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Sep 2020

    CumulativeFundBenchmark
    1 month-4.77-4.80
    6 months30.7231.99
    Year to date17.4819.15
    3 years15.3211.47
    5 years23.7223.13
    Since launch86.28-
    AnnualisedFundBenchmark
    1 year29.4431.38
    3 years4.863.68
    5 years4.344.24
    Since launch10.25-

    As at 30 Sep 2020

    CumulativeFundBenchmark
    Quarterly13.5013.82
    Year to date17.4819.15
    3 years15.3211.47
    5 years23.7223.13
    Since launch86.28-
    AnnualisedFundBenchmark
    1 year29.4431.38
    3 years4.863.68
    5 years4.344.24
    Since launch10.25-
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 30 September 2016 2017 2018 2019 2020
    Fund-6.4214.66-17.317.6629.53
    Benchmark-3.4514.40-22.9910.0931.48

    Calendar year performance (%)

    2015 2016 2017 2018 2019
    Fund5.22-19.4923.51-29.8034.69
    Benchmark7.08-19.1120.28-32.9937.48

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund29.444.864.3410.25
    Benchmark31.383.684.24-

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund29.444.864.3410.25
    Benchmark31.383.684.24-

    Performance for the USD Accumulating ETF class in USD, listed on 19 May 2014. Source: Lipper. Performance assumes all ETF charges have been taken and that all income generated by the investments, after deduction of tax, remains in the ETF.

    Past performance is not a guide to the future.

    Portfolio

    As at 30 Sep 2020. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns below relate to the Index. The ETF’s portfolio may deviate from the below

    Sector (%)

    Financials21.7
    Information Technology16.0
    Consumer Staples14.2
    Industrials12.0
    Health Care10.7
    Consumer Discretionary8.5
    Materials8.0
    Real Estate3.4
    Communication Services2.5
    Other3.0
    Top 10 constituents20.0
    Rest of Index80.0
    No. of constituents in Index716

    Top 10 constituents (%)

    Kweichow Moutai4.5
    Ping An Insurance3.6
    China Merchants Bank2.4
    Wuliangye Yibin1.8
    Midea Group1.8
    CITIC Securities1.2
    Gree Electric1.2
    Luxshare Precision1.2
    Industrial Bank1.2
    Jiangsu Hengrui Medicine1.2

    Investment Manager

    GO ETF Solutions LLP is the investment manager for each of the exchange traded funds (ETFs) issued by Legal & General UCITS ETF Plc and is responsible for the day-to-day investment management decisions for this ETF. The team is highly experienced with respect to all aspects relating to the management of an ETF portfolio, including collateral management, OTC swap trading, adherence to UCITS regulations and counterparty exposure and monitoring.

    E Fund Management (Hong Kong) Co., Ltd (“E Fund”) is one of the leading asset management groups in China. Headquartered in Guangzhou, the company has offices in Beijing, Shanghai, Chengdu, Dalian, Nanjing, Hong Kong and the United States. E Fund is a licensed RQFII investor, and one of the largest RQFII quota holders. The company has total assets of RMB 1,100 billion (as at 31 September 2017).

    Literature

    Marketing documents

    Reportable income

    Prices

    Name
    USD Acc
    Currency
    USD
    NAV
    19.22
    Price time
    16:00 (UK)

    Further details

    Charges and tax

    TER
    0.88%
    ISA eligible
    Yes
    SIPP eligible
    Yes
    UK Fund Reporting Status
    Yes

    Management / administration

    Issuer
    Legal & General UCITS ETF Plc
    Depositary and Trustee
    The Bank of New York Mellon SA/NV, Dublin Branch
    Securities regulator
    Central Bank of Ireland

    Country registration

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

    Listings

    Details
    Codes
    ExchangeCurrencyTickerListing dateISINBloomberg codeReuters codeTrading hours (local)
    London Stock ExchangeGBPCASE19/05/2014IE00BHBFDF83CASE LNCASE.L08:00 - 16:30
    London Stock ExchangeUSDCASH19/05/2014IE00BHBFDF83CASH LNCASH.L08:00 - 16:30
    Borsa ItalianaEURCASH02/07/2014IE00BHBFDF83CASH IMCASH.MI09:00 - 17:30
    Deutsche BörseEURCASH19/05/2014DE000A1XEFE1 CASH GYECCASH.DE09:00 - 17:30
    EuronextEURCASH19/05/2014IE00BHBFDF83CASH NACASH.AS09:00 - 17:30

    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 not a guide to the future.

    The ETF's ability to closely track the Index will be affected by its ability to purchase and/or sell the Index constituents and any legal or regulatory restrictions or disruptions affecting them. Such factors tend to be more prevalent in Chinese stock markets and may also affect the ETF's ability to determine its net asset value ("NAV") and/or lead to the suspension of subscriptions and redemptions of ETF shares.

    The ETF's ability to closely track the Index will also be affected by transaction costs and taxes incurred when adjusting its investment portfolio generally and/or to mirror any periodic adjustments to the constituents of the Index.

    The ETF's performance may be impacted by any gradual and/or sudden changes to any applicable rules, laws, regulations, economic policies and political environment in China and any governmental intervention in the stock and/or foreign exchange markets which may limit the ETF's ability to invest in A-shares, limit the ETF's ability to repatriate its cash out of China or affect the ETF's rights over its investments.

    Corporate governance and accounting/reporting standards for companies in China are typically lower than developed markets and may affect the value of the ETF's investments.

    The ETF may not be able to procure additional RQFII investment quota to match investor demand for the ETF which may cause subscriptions to be suspended and the ETF shares to trade at a premium to NAV on stock exchanges.

    The PRC tax authorities do not currently impose capital gains tax (“CGT”) on the ETF’s investments in A-shares pursuant to a temporary exemption that was implemented on 17 November 2014. However, there is a risk that the PRC tax authorities may at any time (and without notice) revoke the temporary exemption and seek to impose CGT on the ETF’s investments which would adversely affect investors at such time.

    For more information, please refer to the key investor information document.

    Important information

    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.

    GO ETF Solutions LLP has been appointed as the discretionary investment manager for this Fund, it is authorised and regulated by the Financial Conduct Authority No.477266.

    We are a member of the Irish Funds Association.

    All features described on this website are those current at the time of publication and may be changed in the future. Nothing on this website should be construed as advice and it is therefore not a recommendation to buy or sell securities. If in doubt about the suitability of this product, you should seek professional advice. Copies of the prospectus, key investor information document, annual and semi-annual reports & accounts are available free of charge on request or at www.lgimetf.com.

    This website is only directed at investors resident in jurisdictions where our funds are 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.

    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

    Index disclaimer

    The ETF referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to such fund or any index on which such ETF is based. The fund-specific supplement to the prospectus contains a more detailed description of the limited relationship MSCI has with Legal & General UCITS ETF Plc and the ETF.