L&G launches emerging market tracker fund

Launch-ribbon-cuttingLegal & General Investment Management has launched an index fund for pension fund investors seeking emerging market exposure, the LGIM Russell Developed Large Cap EM GeoExposure Index Fund.

The fund will track the Russell Developed Large Cap Emerging Market GeoExposure Index, which consists of large, developed market companies.

Those companies either derive a material proportion of their revenues or generate significant total revenues from emerging markets.

Transport for London’s Pension Fund will be the first investor in the fund, with an investment totaling £150 million (€174.5 million).

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