L&G ESG Emerging Markets Government Bond (Local Currency) Index Fund
ICAV (UCITS compliant)
L&G ESG Emerging Markets Government Bond (Local Currency) Index Fund
I-Class GBP (Unhedged) Accumulation
ISINIE00BGXQV148
Price
ISINIE00BGXQV148
Price
Fund aim
The investment objective of the Fund is to provide investors with a return in line with the Emerging Markets government bond market, as represented by the JPMorgan ESG GBI-EM Global Diversified Local Currency Index (the “Index”).
Fund snapshot
- What does it invest in? Invests primarily in bonds issued in the relevant national currency by governments of developing countries as determined by the index. These bonds will be a mixture of sub-investment grade (higher risk), investment grade (lower risk) and non-rated bonds. The index includes only bonds that meet the index provider’s socially responsible investing (“SRI”) requirements and environmental, social and governance (“ESG”) rating criteria. The Fund may also use derivatives.
- How does it invest? Passively managed, aiming to replicate the performance of the index.
- 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.
Fund facts
| Fund size | $887.5m |
| Base currency | USD |
| Fund launch date | 31 Jan 2019 |
| Domicile | Ireland |
| Share class launch | 21 Mar 2019 |
| Modified duration | 4.94 years |
| Gross redemption yield (unhedged) | 6.07% |
Benchmark
JPMorgan ESG GBI-EM Global Diversified Local Currency Index
Costs
| Initial charge | 0.00% |
| Ongoing charges figure | 0.33% |
| Dilution levy | 0.174% |
| Entry anti-dilution levy | 0.09% |
| Exit anti-dilution levy | 0.09% |
Performance
Portfolio breakdown
As at 31 Jan 2024
| Top 10 holdings | 11.9% |
|---|---|
| Rest of portfolio | 88.1% |
Top 10 holdings (%)
| Brazil Letras do Tes 0% 01 Jul 26 | 1.5 |
| Brazil Notas Do Tes F 10% 01 Jan 29 | 1.3 |
| Brazil Letras do Tes 0% 01 Jan 26 | 1.3 |
| South Africa Govt Bd 10.5% 21 Dec 26 | 1.3 |
| Brazil Notas do Tes F 10% 01 Jan 27 | 1.3 |
| Poland Govt. Bd. 7.5% 25 Jul 28 | 1.1 |
| South Africa Govt Bd 8% 31 Jan 30 | 1.1 |
| Brazil Notas do Tes F 10% 01 Jan 25 | 1.0 |
| South Africa Govt Bd 8.75% 28 Feb 48 | 1.0 |
| Mexican Bonos 5.75% 05 Mar 26 | 1.0 |
Country (%)
Poland | 9.9 |
Malaysia | 9.5 |
Thailand | 9.3 |
Brazil | 9.1 |
Mexico | 9.0 |
Indonesia | 8.6 |
Czech Republic | 8.2 |
South Africa | 8.1 |
China | 6.4 |
Other | 22.1 |
| Top 10 holdings | 11.9% |
|---|---|
| Rest of portfolio | 88.1% |
Top 10 holdings (%)
| Brazil Letras do Tes 0% 01 Jul 26 | 1.5 |
| Brazil Notas Do Tes F 10% 01 Jan 29 | 1.3 |
| Brazil Letras do Tes 0% 01 Jan 26 | 1.3 |
| South Africa Govt Bd 10.5% 21 Dec 26 | 1.3 |
| Brazil Notas do Tes F 10% 01 Jan 27 | 1.3 |
| Poland Govt. Bd. 7.5% 25 Jul 28 | 1.1 |
| South Africa Govt Bd 8% 31 Jan 30 | 1.1 |
| Brazil Notas do Tes F 10% 01 Jan 25 | 1.0 |
| South Africa Govt Bd 8.75% 28 Feb 48 | 1.0 |
| Mexican Bonos 5.75% 05 Mar 26 | 1.0 |
Country (%)
Poland | 9.9 |
Malaysia | 9.5 |
Thailand | 9.3 |
Brazil | 9.1 |
Mexico | 9.0 |
Indonesia | 8.6 |
Czech Republic | 8.2 |
South Africa | 8.1 |
China | 6.4 |
Other | 22.1 |
Years to maturity (%)
0 - 5 Years | 48.5 |
5 - 10 Years | 30.7 |
10 - 15 Years | 11.4 |
15 - 20 Years | 5.3 |
20 - 25 Years | 2.1 |
25 - 30 Years | 2.0 |
Credit rating (%)
| AAA | 2.9 | |
| AA | 8.4 | |
| A+ | 0.3 | |
| A | 26.9 | |
| A- | 0.8 | |
| BBB+ | 0.8 | |
| BBB | 41.6 | |
| BB | 16 | |
| BB- | 2 | |
| Other | 0.3 |
Currency (%)
PLN | 10.0 |
IDR | 9.6 |
MXN | 9.6 |
MYR | 9.5 |
BRL | 9.5 |
THB | 9.3 |
CZK | 8.2 |
ZAR | 8.1 |
CNY | 6.4 |
Other | 19.9 |
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.
Fund managers
LGIM Index Fund 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.
Sustainability
SFDR categorisation
Article 8
Environmental characteristics
Social characteristicsThe Fund promotes the above-mentioned characteristics by tracking the JPMorgan ESG GBI-EM Global Diversified Local Currency Index (the “Index”), which is a designated reference benchmark for the purpose of attaining the environmental and social characteristics promoted by the Fund. Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
Environmental characteristicsSocial characteristicsThe Fund promotes the above-mentioned characteristics by tracking the JPMorgan ESG GBI-EM Global Diversified Local Currency Index (the “Index”), which is a designated reference benchmark for the purpose of attaining the environmental and social characteristics promoted by the Fund. Whilst environmental and social characteristics are promoted through the application of the sustainability-related investment strategy, investors are reminded that these environmental and social characteristics are not sustainable investment objectives.
The Fund follows the following sustainability-related investment strategy by tracking the Index that applies:
JPM Exclusions
JPM ESG Score
TaxonomySustainable Investments
Principal Adverse ImpactsLiterature
Document type
Prices
Pricing information
| Price basis | Single - dilution levy |
| Price time | 22:30 Irish time |
| Currency | GBP |
Codes and dealing
Codes
| ISIN | IE00BGXQV148 |
| SEDOL | BGXQV14 |
| Bloomberg | LGEEIGU 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:
