L&G Future World Net Zero Global Credit Fund USD I EUR H Acc

The Fund aims to produce a return derived from capital growth and income by investing in fixed and floating-rate securities. The Fund aims to deliver this objective while decarbonising the portfolio over time The Fund aims to produce a return derived from capital growth and income by investing in fixed and floating-rate securities. The Fund aims to deliver this reduction in weighted average carbon intensity by 2030, compared to a December 2019 baseline level. The Fund will seek to achieve its objective by capturing the credit risk premium within a globally diversified portfolio of predominantly non-government bonds from companies and issuers deemed to demonstrate adequate strategies or standards that reflect the Investment Manager's long-term thematic views including risks relating to climate change. Environmental, social and governance (ESG) factors are integrated into the Fund's investment process. The Fund will invest predominantly in fixed income securities (investments that provide a certain level of income). These include corporate bonds and other debt instruments, issued globally and denominated predominantly in US Dollar, Euro and Sterling. In addition to decreasing the weighted average carbon intensity over time, the Fund promotes a range of environmental and social characteristics by: Excluding investments in bonds issued by companies in the LGIM Future World Protection List ("FWPL"). Excluding companies from the Fund which do not meet the Managers Climate Impact Pledge, in order to encourage strong governance and sustainable strategies. The Fund may also hold cash and invest in units in collective investment schemes, other transferable securities, depository receipts, permitted deposits, cash and near cash, warrants and money market instruments. The fixed income instruments that the Fund invests in will be primarily rated investment grade (rated as lower risk) by a recognised rating agency or considered equivalent by the Investment Manager. The fixed income instruments that are considered as sub-investment grade (rated as higher risk) will be limited to 10% of the portfolio. Credit ratings give an indication of how likely it is that the issuer of a bond will be able to pay back interest and the loan on time. Derivatives may also be used to protect or enhance the value of the Fund or to seek to reduce the risks of certain investments. Derivatives are financial instruments whose values are based upon the price of one or more other asset(s). Other information: The Fund is actively managed without reference to any benchmark meaning that the Investment Manager has full discretion over the composition of the Fund’s portfolio, subject to the stated investment objectives and policies. The Fund promotes a range of environmental and social characteristics. Further information on how such characteristics are met by the Fund can be found in the Supplement. Your shares will be accumulation shares. Income from the Fund’s investments will be reinvested back into the value of your shares. This Fund is designed for investors looking for income or growth from an investment in bonds. 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. Shares can be bought, sold or switched on any business day. Orders received by 2.00pm (CET) will be processed as at the valuation point on the same business day. Orders received after 2.00pm (CET) will be processed as at valuation point on the next business day. The Fund's base currency is denominated in US dollar (USD). This Share Class uses currency hedging to seek to protect your investment against exchange rate movements between the share class currency and the Fund’s base currency. The Fund may invest up to 20% of its assets in asset-backed securities (ABS) and mortgage-backed securities (MBS). The Fund may invest up to 20% of its assets in contingent convertible debt securities.