L&G ESG Emerging Markets Government Bond (Local Currency) Index Fund Z GBP Acc

The investment objective of the Fund is to provide investors with a return in line with the Emerging Markets government bond market, as represented by the J.P. Morgan Emerging Markets Bond L&G Sovereign ESG (Local Currency) Index (the “Index”). The Fund invests primarily in government bonds (a loan that pays interest) that make up the Index. The Index consists of bonds which are issued in the relevant national currency by governments of emerging market countries. The Index includes only bonds that meet the index provider’s socially responsible investing (“SRI”) requirements and environmental, social and governance (“ESG”) rating criteria and criteria for an emerging market country. The Fund will aim to replicate the Index by using index 'sampling' techniques to select securities and will ensure the Fund has similar characteristics as the Index whilst not necessarily holding all of the constituents of the Index. While the Fund is expected to track the Index as closely as possible, it typically will not match the performance of the targeted Index exactly. The bonds the Fund invests in will be a mixture of sub-investment grade, investment grade and non-rated bonds. The mix will closely match that of the Index. Investment and sub-investment grade bonds have been given a credit rating by a rating agency. Credit ratings give an indication of how likely the issuer of a bond will be able to pay back interest and the loan on time. Sub-investment grade bonds are rated as higher risk and investment grade bonds are rated as lower risk. Non-rated bonds have not been rated by a rating agency. The Fund may also engage in stock lending. This is when it lends its investments to third parties as a means of generating additional income and to off-set the costs of the Fund. The Fund's Prospectus gives more information about stock lending. The Fund may use derivatives (contracts which have a value linked to the price of another asset) to reduce risk or cost; or generate additional capital or income with no, or an acceptably low, level of risk; or manage the effect of currency exchange rates Other information: The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement. Your shares will be accumulation shares. Income from the Fund’s investments will be reinvested back into the value of your shares. The Fund is considered to be passively managed as it aims to replicate the Index by using index 'sampling' techniques. This Fund is designed for investors seeking income or growth from an investment in Emerging Markets government bonds denominated in the national currency of the issuer. The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement. Although investors can take their money out at any time, this Fund may not be appropriate for those who plan to withdraw their money within five years. This Fund is not designed for investors who cannot afford more than a minimal loss of their investment. If you do not understand this document we recommend you seek additional information to help you decide if this Fund is right for you. You can buy or sell shares on any normal business day. If we receive your instruction before 2pm (Irish time), shares will be bought or sold at the next business day's price. The Fund's base currency is denominated in US dollar (USD). The Index is a Total Return Index.