L&G Emerging Markets Government Bond Index
A fund that looks to track the performance of government bonds of global emerging markets
The fund aims to track the JPMorgan EMBI Plus Index, which contains government bonds from countries designated as emerging denominated in hard currencies such as USD, EUR and GBP. As a result of liquidity issues, the fund will not hold a fully replicated portfolio but will aim to track the index through optimisation techniques. We like the tracker as it gives us exposure to a diverse portfolio of liquid bonds in the EM debt universe and it has tracked the benchmark well historically. It is also relatively cheap with an ongoing charge of 0.29% as of January 2016.
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Fund Manager: Chad Rakvin
Chad has been Global Head of Index Funds at LGIM since September 2015, after joining in 2013. Prior to joining Legal & General, Chad was the Global Equity Index Director at Northern Trust, where his responsibilities included managing a diverse group of investment strategies. Chad had previous appointments with Barclays Global Investors, Dow Jones Indexes and Pennsylvania Financial Advisors and is a CFA charterholder.
Fund Group: LGIM
Legal & General Investment Management (LGIM) is one of Europe’s largest institutional asset managers and a major global investor with asset under management of £951bn (as of June 2017). L&G Investments was founded in 1970, and provide investment vehicles both active and passive across a full spectrum of asset classes including equities, fixed income, property and cash.
LGIM operates as the investment management arm of Legal & General Group, a constituent of the FTSE 100 and one of the oldest and largest insurance companies in the world, founded in 1836 as the Legal & General Life Assurance Society.