Legal and General (L&G) Asset Management has launched the latest addition to its index range, the L&G Global Aggregate Bond Index Fund, to provide broad exposure to investment-grade fixed income.
The strategy aims to track the Bloomberg Global Aggregate 500MM index, investing across security types and markets. It is the first UK-domiciled fund of this kind.
The index offers exposure to more than 23,000 bonds from around 2,300 issuers and 25 currencies, which the team said made it an effective core fixed-income building block.
Lee Collins, head of index fixed income at L&G, said: “This launch reflects a clear demand from our clients for a product that provides access to a diversified set of investment-grade bonds with a large-issue liquidity screen.”
He added: “As the first UK-domiciled Global Aggregate Index fund, we are giving UK advisers a long-requested core fixed income building block in an ideal format.”
See also: L&G partners with Calastone on tokenised liquidity funds
