02 March 2020

LGIM expands index fund range with UK Mid Cap Index Fund

Legal & General Investment Management (LGIM) is pleased to announce the launch of the L&G UK Mid Cap Index Fund

Legal & General Investment Management (LGIM) announces the launch of the L&G UK Mid Cap Index Fund (‘the Fund’).

The Fund aims to provide growth by tracking the performance of the FTSE 250 ex. Investment Trust Index, which provides broad exposure to medium-sized UK listed companies ranging from household names to dynamic up-and-coming enterprises across a wide range of industry sectors.

The traditional FTSE 250 Index houses a number of investment trusts that can be invested in a wide range of different asset classes, geographies and adopt a variety of investment strategies. By tracking the FTSE 250 ex. Investment Trust Index, the Fund excludes these investment trusts and provides an index solution that focuses on UK listed businesses.

Simon Hynes, Head of UK Retail Distribution at LGIM, says: “We are committed to offering our investors broad, low-cost exposure across a broad range of asset classes, and we are pleased to expand our market-leading range of high-quality index funds.

“Index funds currently represent 13.4% of all IA retail mutual funds under management – up from 11.5% in November 2015 – and this is expected to climb further as investors continue to seek cost-efficient market exposure. We are seeing increasing demand from advisers and wealth managers in particular, who are looking to build diversified, cost-efficient portfolios for their clients.

“Medium-sized UK listed companies have significant potential for capital growth over the long term, and this fund is a useful tool for investors and advisers to diversify and tailor their UK equity exposure.”

The Fund, which is provided by Legal & General (Unit Trust Managers) Ltd. with assets managed by LGIM, will be available on all major intermediary platforms and has an Ongoing Charges Figure (OCF) of just 0.14%¹.

¹ Clean 'I' share class

For further information, please contact:

Elisabeth Steyn
Media Relations Executive
T: 0203 124 4353
E: elisabeth.steyn@lgim.com

Notes to editors

Legal & General Investment Management:
Legal & General Investment Management is one of Europe’s largest asset managers and a major global investor, with total assets of £853 billion*. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.

Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across the full spectrum of asset classes including fixed income, equities, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.

*LGIM internal data as at 30 June 2016. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor.  Data includes derivative positions and advisory assets.