Unit-Linked Life Insurance

Global Emerging Markets Equity Index Fund

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
£215.8m
Base currency
GBP
Launch date
Jan 1999
Domicile
United Kingdom

Statistics

As at 31 Mar 2022

Fund aim

Benchmark

Fund characteristics

Russia exposure

23 Feb 2022
2.40%
31 Mar 2022
0.01%

As at 31 Mar 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. These exposures do not give an indication of the relative exposures versus the benchmark. 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%.

Fund updates

Performance

Source: LGIM

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Mar 2022

    CumulativeFundBenchmark
    Quarterly-4.14-4.26
    6 months-5.49-5.65
    Year to date-4.14-4.26
    AnnualisedFundBenchmark
    1 year-4.93-4.80
    3 years5.335.22
    5 years5.265.14
    Since launch10.8610.59
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 31 March 2018 2019 2020 2021 2022
    Fund11.18-0.54-14.6744.04-4.93
    Benchmark10.73-0.38-14.5743.22-4.80

    Calendar year performance (%)

    2017 2018 2019 2020 2021
    Fund25.83-9.2113.4113.901.15
    Benchmark25.66-9.1213.2413.721.12

    Monthly performance (%)

    Annualised performance (%)

    Annualised1 year3 years5 yearsSince launch
    Fund-4.935.335.2610.86
    Benchmark-4.805.225.1410.59

    Performance is reported in GBP based on weekly mid-market prices before the deduction of fees. Benchmark is stated net of tax applicable to UK pension schemes..

    Performance is reported in GBP based on daily close mid-market prices after the deduction of our standard investment management fees. Benchmark is stated net of tax applicable to UK pension schemes..

    Past performance is not a guide to future performance and the value of investments can go down as well as up.

    Portfolio

    As at 31 Mar 2022. 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.

    Sector (%)

    Financials20.9
    Information Technology19.7
    Consumer Discretionary11.8
    Materials10.3
    Communication Services9.0
    Industrials7.2
    Consumer Staples6.0
    Health Care4.9
    Energy4.5
    Other5.8

    Market capitalisation (%)

    Large78.0
    Mid12.9
    Small9.1
    Undefined-
    Top 10 holdings18.5
    Rest of portfolio81.5
    No. of holdings in fund2,831
    No. of holdings in index4,802

    Top 10 holdings (%)

    Taiwan Semiconductor Manufacturing Co4.3
    Tencent Holdings3.2
    Samsung Electronics Co3.2
    Alibaba Group Holding Adr2.2
    Reliance Industries1.3
    Infosys1.0
    Meituan B0.9
    Vale0.9
    China Construction Bank H0.9
    Housing Development Finance0.6

    Country (%)

    China28.8
    Taiwan15.7
    India14.6
    Korea12.7
    Brazil6.0
    South Africa3.8
    Saudi Arabia3.7
    Mexico2.1
    Thailand2.0
    Other10.6

    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.

    LGIMIndex Fund Management Team

    Literature

    Prices

    Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close, daily close, or daily midday basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
    Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a daily close or daily midday basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
    Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
    Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.

    Weekly close

    Name
    Primary
    Bid price
    1026.39p
    Mid price
    1028.41p
    Offer price
    1029.91p
    Absolute change
    -
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    GBP
    As at
    25 May 2022
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    As at
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    Weekly dealt funds are valued at the local market close on the day preceding the dealing day.

    Daily close

    Name
    Primary
    Mid price
    1035.01p
    Dealing price
    1035.01p
    Absolute change
    -
    Currency
    GBP
    As at
    26 May 2022
    Name
    Charges included
    Mid price
    936.96p
    Dealing price
    936.96p
    Absolute change
    -
    Currency
    GBP
    As at
    26 May 2022
    Name
    -
    Mid price
    -
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    -
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    As at
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    As at
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    Daily close dealt funds are valued at the local market close on the dealing day.

    Daily midday

    Name
    Primary
    Mid price
    1051.77p
    Dealing price
    1053.31p
    Absolute change
    -
    Currency
    GBP
    As at
    27 May 2022
    Name
    Charges included
    Mid price
    952.14p
    Dealing price
    953.54p
    Absolute change
    -
    Currency
    GBP
    As at
    27 May 2022
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    -
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    Daily midday dealt funds are valued at the 12:00 (UK time) on the dealing day.

    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.

    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.

    The return from your investment is not guaranteed and therefore you may receive a lower or higher return than you anticipated. There will be a variation in performance between funds with similar objectives due to the different assets selected.

    PMC’s charges and associated transaction costs are subject to change, with notice for the former and without notice for the latter. Charges and transactions costs deducted from the policy reduce your potential for capital growth in the future.

    Tax rules and the treatment of income and capital gains could change in the future and may be applied retrospectively.

    Inflation reduces the purchasing power of money over time as the cost of purchasing goods and services increases. If the rate of inflation exceeds the rate of return on your portfolio, it will erode the value of your portfolio and its investments in real terms.

    In extreme market conditions it may be difficult to realise assets held for a fund and it may not be possible to redeem units at short notice. We may have to delay acting on your instructions to sell or the price at which you cancel the units may be lower than you anticipated.

    The value of a fund’s assets may be affected by uncertainties such as international political developments, market sentiment, economic conditions, changes in government policies, restrictions on foreign investment and currency repatriation, currency fluctuations and other developments in the laws and regulations of countries in which investment may be made.

    PMC seeks to mitigate counterparty risk wherever possible on behalf of its policyholders through a variety of measures which include: each fund’s non-cash assets being held with independent custodians, sweeping cash (where appropriate) overnight into the LGIM’s range of Liquidity funds (above a deminimus level), using the delivery versus payment system when settling transactions and the use of central clearing for exchange traded derivatives and forward foreign exchange transactions. However, in the event of the failure of a counterparty, custodian or issuer there is a residual risk that a fund may suffer asset losses which are unrecoverable.

    Important information

    All performance periods over a year will be annualised.

    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 Information Document, the Key Features Document and Description of Funds 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.

    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 and General Assurance (Pensions 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 Pension and Life Funds is issued by Legal and General Assurance (Pensions Management) Limited (‘PMC’). It is a life insurance company which carries on linked insurance business. As part of that business, it holds investments divided into separate sub-funds known as PF Sections. The value of each Policy that it issues is determined by reference to the value of one or more of the PF Sections. Legal & General Investment Management Limited, has been appointed as the investment manager of these PF Sections and is authorised and regulated by the Financial Conduct Authority. LGIM also provides investment and marketing services to PMC.

    Legal and General Assurance (Pensions Management) Limited is Registered in England and Wales No. 01006112.  Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, No. 202202.

    Index disclaimer

    The S&P/IFCI Composite Global Emerging Markets Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (“SPDJI”) and any associated third party licensors, and has been licensed for use by Legal & General Investment Management (“LGIM”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); Any third party licensor trademarks are trademarks of the third party licensor and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by LGIM. LGIM’s product, or that of its affiliates, is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or the third party licensor and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the index.

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