LGIM launches local currency India government bond ETF

India's sovereign bond market has rapidly expanded in recent years

Legal & General Investment Management has launched the L&G India INR Government Bond UCITS ETF, which it said is the first ETF in Europe to provide exposure to India government bonds in local currency.

The £1.3trn London-based asset manager said the fund will allow UK and European investors to access India's growing local-currency government bond market. The fund is listed on the London Stock Exchange, Deutsche Börse and Borsa Italiana and will track the performance of the JP Morgan India Government Fully Accessible Route (FAR) Bonds index. A quarter of world's biggest asset managers investing with net zero in mind India's sovereign bond market has rapidly expanded in recent years and is anticipated to grow further over the next decade, LGIM said. The investment-grade market o...