The fund aims to track the performance of the Barclays Global Aggregate UK Government Float Adjusted Index, which tracks bonds issued by the UK Government, also known as gilts. The tracker will hold securities with a range of maturities to reflect the benchmark index. Rather than hold all the bonds in the index, the fund will utilise a variety of optimisation techniques including sampling to produce a portfolio that delivers the return characteristics of the reference benchmark. We like the tracker as it gives us exposure to a broad selection of UK government bonds and it has tracked the benchmark well historically. It is also relatively cheap with an ongoing charge of 0.06% as of December 2015.