ETF (UCITS compliant)

L&G Gold Mining UCITS ETF

Given current market events we have now populated Fund Centre with Fund exposures to assets with “country of risk*” as either Russia, Ukraine, or Belarus, or exposures to Russian Rouble currency. Please see the exposures below for further information.

*Sourced from Bloomberg

Fund facts

Fund size*
$126.4m
Base currency
USD
Listing date
6 Nov 2008
Domicile
Ireland
Index ticker
LGIMGMNR
Replication method
Physical - full replication

Statistics

*As at 15 Aug 2022

Fund aim

The L&G Gold Mining UCITS ETF (the “ETF”) aims to track the performance of the Global Gold Miners Index (the “Index”).

  • Sector allocation

Invest in the growth potential of the gold mining sector

  • Risk-off feature

Could potentially benefit from traditional risk-off characteristics of gold

  • Leveraged exposure to gold

Gold mining companies have historically offered a leveraged exposure to the price of gold

  • Does it promote sustainability characteristics?

The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement

Russia exposure

23 Feb 2022
0.49%
30 Jun 2022
0.00%

As at 30 Jun 2022

These numbers give indicative Fund exposures to assets with “country of risk” sourced from Bloomberg as either Russia, Ukraine, or Belarus, or exposures to Russian Rouble currency. The figures are based on early price estimated data so may differ from the fully verified month end NAV exposure. Where the holding is “indirect” (for example held in a sub-fund), best efforts have been made to ensure that exposure to the sub-fund(s) is on a consistent basis. As at dates have been chosen to reflect exposure both before and after the significant recent falls in values of impacted assets.

Exposures are presented to two decimal places, exposures may be rounded to 0 if less than 0.05%.

These exposures do not give an indication of the relative exposures versus the benchmark. With regard to index-based strategies, LGIM has a duty to track the relevant index to ensure clients receive exposure as set out in the relevant investment objective. Following the imposition of sanctions and assets being removed from indices the market was effectively frozen for foreign investors and all equity positions have been marked to zero in line with LGIM’s fair value pricing policy. Regardless of being priced at zero LGIM funds still own these securities and any value realised in the future will be for the sole benefit of the relevant fund. LGIM will seek to divest from such securities at such a time that market conditions allow consistent with our fiduciary duties and applicable sanctions.

Global Gold Miners Index

The Index is designed to provide exposure to global companies which are actively engaged in the areas of gold mining. Gold mining covers exploration drilling, geological assessment, financing, development, extraction, initial refinement, and delivery of gold ore. The constituents of the Index are exclusively companies that generate at least 50 per cent of their revenues from gold production. The Index seeks to exclude companies which are (i) involved in the manufacturing of controversial weapons, (ii) persistent violators of the UN Global Compact, and/or (iii) pure coal mining companies. Such exclusions are determined by reference to the “Future World Protection List” (“FWPL”) published by Legal & General Investment Management Limited which is available at https://www.lgim.com/uk/en/capabilities/corporate-governance/assessing-companies-esg/.

The selection of the Index constituents is carried out by Stoxx Ltd. (the “Index Administrator”) based on gold production, market capitalisation and average daily trading volume.

Index data

Provider
Deutsche Börse
Bloomberg code
LGIMGMNR
Reuters code
.LGIMGMNR
Type
Net Total Return
Website
www.dax-indices.com

Fund updates

Performance

Source: Lipper.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 30 Jun 2022

    CumulativeFundBenchmark
    1 month-17.08-17.10
    6 months-22.30-22.53
    Year to date-22.30-22.53
    3 years-1.350.48
    5 years16.7021.86
    Since launch29.85-
    AnnualisedFundBenchmark
    1 year-23.39-23.51
    3 years-0.450.16
    5 years3.134.03
    Since launch1.93-

    As at 30 Jun 2022

    CumulativeFundBenchmark
    Quarterly-33.20-33.21
    Year to date-22.30-22.53
    3 years-1.350.48
    5 years16.7021.86
    Since launch29.85-
    AnnualisedFundBenchmark
    1 year-23.39-23.51
    3 years-0.450.16
    5 years3.134.03
    Since launch1.93-
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 30 June 2018 2019 2020 2021 2022
    Fund-1.3419.9038.89-7.29-23.39
    Benchmark-0.1121.4140.52-6.51-23.51

    Calendar year performance (%)

    2017 2018 2019 2020 2021
    Fund13.22-11.2942.5823.19-9.50
    Benchmark14.59-10.1744.3024.68-9.17

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-23.39-0.453.131.93
    Benchmark-23.510.164.03-

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-23.39-0.453.131.93
    Benchmark-23.510.164.03-

    Performance for the USD Accumulating ETF class in USD, listed on 06 November 2008. 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 Jun 2022. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns below relate to the Index.

    Sector (%)

    Materials100.0

    Currency (%)

    CAD46.9
    AUD17.4
    USD17.0
    ZAR15.8
    GBP3.0
    Top 10 constituents77.3
    Rest of Index22.7
    No. of constituents in Index32

    Top 10 constituents (%)

    Newmont15.7
    Barrick Gold14.4
    AngloGold Ashanti8.4
    Gold Fields7.4
    Agnico-Eagle Mines7.0
    Kinross Gold6.8
    Newcrest Mining6.6
    Northern Star4.9
    Yamana Gold3.1
    Fresnillo3.0

    Country (%)

    Canada46.9
    Australia17.4
    United States17.0
    South Africa15.8
    United Kingdom3.0

    Investment Manager

    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

    Sustainability

    Sustainability disclosures

    The Sustainable Finance Disclosure Regulation (SFDR) is an EU regulation that came into force on 10 March 2021, and imposes disclosure requirements for EU financial products. These requirements include disclosing sustainability-related information for funds that (i) promote (among other characteristics) environmental or social characteristics (Article 8 products), or (ii) have a sustainable investment objective (Article 9 products), both as defined under SFDR.

    SFDR categorisation: Article 8Article 8: These funds promote environmental and/or social characteristics

    The EU Taxonomy Regulation (EU Taxonomy) sets out a classification system in respect of environmentally sustainable economic activities. EU Taxonomy covers six environmental objectives, ranging from climate change mitigation to protection and restoration of biodiversity, with technical screening criteria to determine whether certain economic activities supports these objectives. EU Taxonomy recognises these economic activities as green, or “environmentally sustainable” if they make a substantial contribution to at least one of the environmental objectives, while at the same time not significantly harming any of these objectives and meeting minimum social safeguards. EU Taxonomy came into force on 1 January 2022 for the first two, climate-related, environmental objectives. EU Taxonomy also amends the disclosure obligations under SFDR to extend the information to be disclosed for Article 9 products and Article 8 products with an environmental focus. You will find the relevant disclosures under the ‘Pre-contractual disclosure’ tab.

    The Fund promotes a range of environmental and social characteristics as described below. These are met by tracking the Index which applies:

    Decarbonisation
    Net zero framework
    Stock selection
    Carbon intensity
    Future World Protection List
    Climate Impact Pledge
    Exclusions

    Issuers are excluded from the index based on the below criteria:

    • Companies that derive 30% or more of their revenues (as a % of balance sheet) from coal mining or extraction are excluded from the Fund.
    • Companies that are in breach of at least one of the United Nation Global Compact principles for a continuous period of three years (36 months) or more are considered persistent violators and are excluded.
    • Companies involved in controversial weapons are also excluded. These exclusions, however, did not form the rationale for the article 8 categorisation.
    Tilting
    Paris-aligned benchmark optimisation
    ESG integration
    UN SDG alignment

    The Index Provider, Stoxx Limited, determines the constituents of the Index. The index provider uses external data sources.

    Further information on the index methodology can be found on the Stoxx Limited website at: https://www.stoxx.com/index-details?symbol=LGIMGMNR

    The above information in respect of the Index has been derived by us from methodologies, statements and disclosures of the index provider for purposes of satisfying our disclosure requirements under SFDR. The information is, therefore, not the property of LGIM and is provided “as is” and “as available”. We seek to ensure the information in respect of the Index is up to date, however there is no guarantee or representations made as to the accuracy or completeness of the information at all times. On that basis, and to the maximum extent permitted by law, no liability is accepted by us in respect of this information.

    A description of the extent to which the environmental and social characteristics are met will likely be made available as part of the annual report published in 2022 as required by SFDR. The Fund’s most recent annual report does not include any information pursuant to SFDR.

    Pre-contractual disclosure

    SFDR Disclosure

    The Fund promotes a range of environmental and social characteristics. The characteristics promoted by the Fund are met by tracking an Index which includes the following features: exclusion of companies engaged in pure coal mining or companies that violate the UN Global Compact principles, as determined by the index provider’s methodology. The Index is consistent with the environmental characteristics as it excludes such companies as set out in the “Index Description” section below.

    The Manager aims to ensure that the issuers of investments in which the Fund is invested follow good governance practices. This is achieved by 1) setting expectations with the issuers’ management with regard to good governance practices; 2) active engagement with the issuers; 3) utilising its voting rights; and 4) supporting policymakers and legislators to ensure a strong regulatory environment and standards. Active engagement with the issuers is used as a tool to drive progress and influence positive change and is conducted independently and in collaboration with industry peers and broader stakeholders. Engagement activities normally focus on specific material ESG issues and involve formulating an engagement strategy with regard to such issues with the aim to track and review the progress of the issuers during this process. Regular reporting on the outcomes of active engagement can be made available on request or can be found at: www.lgim.com.

    EU Taxonomy Disclosure

    While the Fund promotes environmental and social characteristics within the meaning of Article 8 of the SFDR, it does not currently commit to investing in “sustainable investments” within the meaning of the SFDR.  Accordingly, it should be noted that the investments underlying this Fund do not take into account the EU criteria for environmentally sustainable economic activities within the meaning of the Regulation (EU) 2020/852 (the “Taxonomy Regulation") and, as such, the Fund’s portfolio alignment with the Taxonomy Regulation is not calculated.

    Governance practices

    The ways in which we ensure that investee companies follow good governance practices are set out below.

    Setting expectations

    A number of policies and processes guide the engagement activities, set out the approach to investment stewardship, and outline the expectations of investee companies. The Global Corporate Governance and Responsible Investment Principles set out the approach and expectations with respect to key topics that are essential for an efficient governance framework, and for building a sustainable business model. We expect all companies on a global scale to closely align with our principles which set out the fundamentals of corporate governance. We also take into account market specificities and take a tailored approach to voting on some topics in various markets. Further related policies can be found on the Investment Stewardship section of the LGIM website.

    Active engagement

    Active engagement with the companies is used as a tool to drive progress and influence positive change and is conducted independently and in collaboration with industry peers and broader stakeholders. Engagement activities normally focus on specific material ESG issues and involve formulating an engagement strategy with regard to such issues with the aim to track and review the progress of the issuers during this process.

    Voting

    LGIM apply a common global strategy with respect to the use of voting rights, and setting expectations of investee companies with regards to planning, management and disclosure of sustainability issues. These principles impact on voting decisions, and for certain themes such as climate, gender and racial diversity there are structured voting and engagement processes in place.

    Supporting policymakers and legislators

    LGIM's Investment Stewardship team actively engages with policy makers and legislators to ensure there is strong regulation and standards in regards to governance practices.

    Literature

    ESG reports

    Prices

    Name
    USD Acc
    Currency
    USD
    NAV
    25.17
    Price time
    16:00 EST (NY)

    Further details

    Charges and tax

    TER
    0.65%
    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 ExchangeGBPAUCP06/11/2008IE00B3CNHG25AUCP LNAUCOP.L08:00 - 16:30
    London Stock ExchangeUSDAUCO06/11/2008IE00B3CNHG25AUCO LNAUCO.L08:00 - 16:30
    Borsa ItalianaEURAUCO29/01/2009IE00B3CNHG25AUCO IMAUCO.MI09:00 - 17:30
    Deutsche Börse XetraEURETLX08/06/2009IE00B3CNHG25ETLX GYETLX.DE09:00 - 17:30
    Euronext AmsterdamEURAUCO15/09/2008IE00B3CNHG25AUCO NAAUCO.AS09:00 - 17:30
    SIX Swiss ExchangeCHFAUCO11/09/2012IE00B3CNHG25AUCO SWAUCO.S09:00 - 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.

    An investment in the ETF involves a significant degree of risk. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should obtain their own independent accounting, tax and legal advice and should consult their own professional advisers to ascertain the suitability of the ETF as an investment.

    An investment in the ETF may expose investors to specific risks associated with the gold mining industry, including government policies and regulation, economic forces and the price of gold bullion. The price of gold bullion may fluctuate substantially over short periods of time and so the price of shares in the ETF may be more volatile than the price of gold itself or other types of investments.

    If a swap counterparty is no longer willing or able to continue entering into swaps with the ETF, the ETF will not be able to continue tracking the Index.

    If a swap counterparty increases the cost of entering into swaps with the ETF, the ETF’s performance will be negatively impacted.

    Third party service providers (such as swap counterparties or the ETF’s depositary) may go bankrupt and fail to pay money due to the ETF or return property belonging to the ETF.

    If the Index provider stops calculating the Index or if the ETF’s license to track the Index is terminated, the ETF may have to be closed.

    It may not always be possible to buy and sell ETF shares on a stock exchange or at prices closely reflecting the NAV.

    There is no capital guarantee or protection on the value of the ETF. Investors can lose all the capital invested in the ETF.

    Please refer to the “Risk Factors” section of the Issuer’s Prospectus and the Fund Supplement.

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

    Important information

    In the United Kingdom and outside the European Economic Area, it is issued by Legal & General Investment Management Limited, authorised and regulated by the Financial Conduct Authority, No. 119272. Registered in England and Wales No. 02091894 with registered office at One Coleman Street, London, EC2R 5AA.

    In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with “top up” permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

    LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Via Uberto Visconti di Modrone, 15, 20122 Milan, (Companies’ Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.

    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

    Stoxx Ltd. and their licensors, research partners or data providers have no relationship to the Company, other than the licensing of the Index and the related trademarks for use in connection with the Fund.

    Stoxx Ltd. and their licensors, research partners or data providers do not:

    - sponsor, endorse, sell or promote the Fund;
    - recommend that any person invest in the Fund or any other securities;
    - have any responsibility or liability for or make any decisions about the timing, amount or pricing of the Fund;
    - have any responsibility or liability for the administration, management or marketing of the Fund;
    - consider the needs of the Fund or the owners of the Fund in determining, composing or calculating the Index or have any obligation to do so.

    Stoxx Ltd and their licensors, research partners or data providers give no warranty, and exclude any liability (whether in negligence or otherwise), in connection with the Fund or its performance.

    Stoxx Ltd does not assume any contractual relationship with the investors in the Fund or any other third parties.

    Specifically,

    - Stoxx Ltd and their licensors, research partners or data providers do not give any warranty, express or implied, and exclude, in particular, any liability about: the results to be obtained by the Fund, the owner of the Fund or any other person in connection with the use of the Index and the data included in the Index; the accuracy, timeliness, and completeness of the Index and its data; the merchantability and the fitness for a particular purpose or use of the Index and its data; the performance of the Fund generally.
    - Stoxx Ltd and their licensors, research partners or data providers give no warranty and exclude any liability, for any errors, omissions or interruptions in the Index or its data;
    - Under no circumstances will Stoxx Ltd or their licensors, research partners or data providers be liable (whether in negligence or otherwise) for any lost profits or indirect, punitive, special or consequential damages or losses, arising as a result of such errors, omissions or interruptions in the Index or its data or generally in relation to the Fund, even in circumstances where Stoxx Ltd or their licensors, research partners or data providers are aware that such loss or damage may occur.

    The licensing Agreement between the Company and Stoxx Ltd. is solely for their benefit and not for the benefit of the owners of the Fund or any other third parties.