Legal & General Investment Management has launched three passive emerging market sovereign debt funds for institutional investors.
The Emerging Market Passive Local Currency Government Bond fund uses the JP Morgan GBI-EM Global Diversified Index. The Emerging Market Passive USD Government Bond fund (hard currency) uses the JP Morgan EMBI Global Diversified Index. The Emerging Market Passive USD Government Bond fund (hard currency) uses the JP Morgan EMBI Global Diversified index and is hedged into sterling.
Nick Hodges, the business development manager, says these funds have been launched following demand from clients and trustees. “Having researched our options, we have decided that the JP Morgan Indices, which are transparent and rules-based and already widely used, best meet our clients’ needs,” he says.
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