LGIM plans bond index tracker as part of fund range expansion
Legal & General Investment Management is looking to boost its fund range with a number of new launches, starting with a bond index tracker.
The first launch is set to be the Global Inflation Linked Bond Index fund, as part of the expansion of its existing range of index tracking funds.
The index fund range consists of 13 products, including the Legal & General UK, International and Index Linked Gilt Index Trusts.
A spokesperson for the group said: “We are looking to launch a number of funds depending on the interest we see from investors.
“They will not all necessarily be index funds, but it is unsurprising that the first one will be an index tracker, given our strong existing range of index funds.”
The new bond index fund’s objective will be to achieve income and capital growth by investing in securities includes in the Barclays World Government Ex UK Inflation Linked Bonds TR Hedged GBP index.
The Barclays World Government Inflation-Linked index is down 4.2% year to 10 July.
The fund launches are subject to investor demand and launch dates have not yet been confirmed.
This article has previously been published on Investment Week.