L&G Market Neutral Commodities UCITS ETF Acc

The Fund is a passively managed exchange traded fund that aims to track the performance of the Barclays Backwardation Tilt Alpha Capped ex-Precious Metals 1.75x TR Index (the "Index"), subject to the deduction of the ongoing charges and other costs associated with operating the Fund. Shares in this Share Class (the "Shares") are denominated in USD and can be bought and sold on stock exchanges by ordinary investors using an intermediary (e.g. a stockbroker). In normal circumstances, only Authorised Participants may buy and sell Shares directly with the Company. Authorised Participants may redeem their Shares on demand in accordance with the "Dealing Timetable" published on http://www.lgim.com. The Index represents 175% leveraged exposure to the performance of the Barclays Backwardation Tilt Alpha Capped ex-Precious Metals 1.75x ER Index (the "Long Underlying") relative to the performance of the Bloomberg Commodity ex-Precious Metals Index (the "Short Underlying"), and the returns on cash collateral to form a "fully collateralised" investment. The Long Underlying and the Short Underlying provide a return equivalent to investment in a diversified portfolio of commodity futures contracts across the following commodity groups: (1) Energy; (2) Industrial Metals; (3) Livestock; and (4) Agriculture. A "futures contract" is an agreement to buy or sell a certain amount of an asset (such as a commodity) at a certain date in the future at a price that is agreed upon today. The Index return is comprised of: (1) the difference between a long 175% leveraged position in the Long Underlying and a short 175% leveraged position in the Short Underlying; and (2) the "collateral" return reflecting the interest that a "real life" commodity investor would earn by investing the cash that they would ultimately need to settle the futures contracts at the future delivery date. This may include investments in instruments such as U.S. Treasury Bills or other market-standard alternatives, includ

Synthetic replication - unfunded swap backed by collateral

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No