L&G Investments to launch corporate bond index fund

Legal & General Investments (LGI) is set to launch an index fund linked to the highest quality issues in the sterling corporate bond market at the end of the month.

The Sterling Corporate Bond Index fund will aim to track the performance of the iBoxx Sterling Non-Gilts ex BBB. This is an investment grade bond index including top tiers of the sterling bond market or those rated AAA, AA or A. The fund will be run by manager Helen Stuart, supported by the Index Funds team. LGI plans to make the vehicle, which will have an AMC of 0.2%, available through all the major fund platforms. The launch comes after research carried out earlier this year on behalf of LGI found half of those advisers looking to increase their passive fund recommendations would o...