fund
Legal & General Global Emerging Markets Index I
Low cost tracker following the FTSE All World Emerging index.
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67.42p
Price (Inc)
These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.
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84.57p
Price (Acc)
These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?
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0.00%
Initial chargeSome funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!
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0.20%
Annual management charge
This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).
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0.33%
Ongoing charges
This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.
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1.90%
Yield
How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…
Fund aims to track the capital performance of global emerging equity markets, as represented by the FTSE All-World Emerging Index. The manager will seek to achieve this by investing primarily in securities that make up this Index. Securities will be held with weightings generally proportionate to their market capitalisation. The trust may hold other investments including derivatives in order to efficiently track the Index.
Fund summary
| Sector | Global Emerging Markets |
| Structure | UNIT TRUST |
| Launched | October, 2010 |
| Size | £1,151m |
| Yield | 1.90% |
| Charging basis | Income |
| Dividends paid | 30 Sep |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.20% |
| Ongoing charges figure | 0.33% |
Allocation
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Investment process
The investment objective of the scheme is to track the capital performance of global emerging equity markets, as represented by the FTSE All-World Emerging Index, through investment in a representative sample of stocks selected from all economic sectors - so called 'stratified sampling technique'. Using this method the larger and medium sized stocks replicate their index weighting within tight tolerances, while smaller stocks are sampled are sampled randomly. Using the above strategy the fund is able to minimise unnecessary trading costs.
Manager research
Average monthly relative returns
- 16/17 0.10%
- 17/18 -0.34%
- 18/19 0.13%
- 19/20 0.02%
- 20/21 -0.18%
Bestinvest MRI
- 3 years -0.01%
- 5 years -0.06%
- Career -0.07%
- 3 years 55.20%
- 5 years 40.50%
- Career 39.40%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Robert Dowling
Dowling is a Fund Manager responsible for the management of a number of international equity index portfolios. He joined the Legal & General Investment Management (LGIM) Index Fund team in April 2010. Previously, he was at State Street Global Advisors (SSgA) where he was a fund manager specialising in Pacific and global emerging markets for five years. Prior to managing funds, he worked as a portfolio analyst at SSgA. He holds a BSc Hons in Politics from Bristol University which he completed in 1997, and is a CFA charterholder and a member of the CFA Society of the UK.
Track record
Robert Dowling has 10.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.07%. During the worst period of relative performance (from December 2010 - December 2020) there was a decline of 10% relative to the index. The worst absolute loss has been 24%.
Periods of worst performance
| Absolute | -24.00% (December 2010 - January 2016) |
| Relative | -10.00% (December 2010 - December 2020) |
About the MRI
Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.
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Top 10 holdings
Data accurate as at 30 June 2020
| 7.3% | Alibaba Group Hldg Ltd |
| 7.1% | Tencent Hldgs Ltd |
| 4.9% | Taiwan Semiconductor Manufacturing |
| 1.5% | China Construction Bank |
| 1.5% | Naspers |
| 1.5% | Meituan Dianping |
| 1.4% | Reliance Industries |
| 1.1% | Ping An Insurance(Gr)Co Of China |
| 1% | Jd.com Inc |
| 1% | Industrial & Com Bk China |
| Source: Trustnet |
Sector breakdown
| Financials | 25.00% |
| Technology | 21.00% |
| Consumer Services | 16.00% |
| Consumer Goods | 8.00% |
| Industrials | 7.00% |
| Oil & Gas | 7.00% |
| Basic Materials | 6.00% |
| Telecommunications | 4.00% |
| Health Care | 4.00% |
| Utilities | 3.00% |