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LGIM launches Europe’s first local currency India government bond ETF

L&G India Government Bond ETFLegal & General Investment Management (LGIM) has launched the L&G India INR Government Bond Ucits ETF, said to be the first fund of its kind in Europe to access India's local-currency government bonds.The fund is listed on the London Stock Exchange, Deutsche Börse and Borsa Italiana and aims to track the performance of the JP Morgan India Government Fully Accessible Route (FAR) Bonds Index.

Lee Collins, head of index fixed income at LGIM said: “We are delighted to launch the L&G India INR Government Bond Ucits ETF, offering investors exposure to one of the world’s largest government bond markets.

“Clear progress has been made by the Indian authorities to allow easier access for foreign investors and the country has been on a path to be included across major fixed income indices. We think it is now an appropriate time to offer this product to investors.”

Investors will have access to Indian government bonds in local currency for the first time, via a liquid and regulated Ucits vehicle.

Steven de Vries, head of wholesale and retail, Emea, at LGIM said: “By introducing Europe’s first local currency India Bond ETF, LGIM continues to bring innovative and meaningful solutions to customers, which have been at the heart of the firm’s strong growth in the ETF space over the last three years.”

He added that the Ucits structure will give investors "easy access to a complex and a highly-regulated market, without having to deal with a complex currency or hire a tax adviser or local broker".

The ETF is registered for distribution in the UK, Germany, Austria, Italy, Ireland, Netherlands, Norway, Denmark, Sweden, Finland, France, Spain and Luxembourg.

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