Legal & General Global Emerging Markets Index Fund

Legal & General Investments today launches the Global Emerging Markets Index Fund, managed by Robert Dowling.

The fund will aim to track the capital performance of global emerging equity markets through investment in a representative sample of stocks selected from all economic sectors and countries within the FTSE All-World Emerging Index.

Robert Dowling, fund manager of the Global Emerging Markets Index fund, said: "The fund will invest primarily in securities that make up the constituents of the Index, with an aim to efficiently track these markets with minimal tracking error."

The fund is currently one of only two emerging markets trackers domiciled in the UK and the only one retail investors can access directly.

Simon Ellis, Managing Director of Legal & General Investments, said: "Many advisers have asked us why there are so few options to invest in Global Emerging markets through passive funds in the UK.  They want to capture the general growth in these markets, but without the costs and variability in performance of buying active funds.  Legal & General Investments has designed a fund that aims to give good value access to the emerging market story, and creates a new tool for advisers to build multi-asset class portfolios.

"We anticipate that many fee-based advisers, including those who are using index funds more frequently to make themselves ‘RDR ready', will support this fund from launch.

"As one of the biggest index fund providers in the country, we have the experience and skill to keep the costs and tracking error of the fund at reasonable levels - the annual management fee is just 0.65 per cent, and the Total Expense Ratio (TER) is expected to be 0.99 per cent."