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LONDON - Legal & General (LON:LGEN) UCITS ETF PLC announced upcoming changes to the names of several of its exchange-traded funds (ETFs) to comply with the European Securities and Markets Authority’s (ESMA) new guidelines concerning the use of ESG and sustainability-related terms in fund names. The changes, which are set to take effect around May 15, 2025, will see the removal of ’ESG’ and ’ESG Exclusions’ from the titles of the affected funds.
The renaming of the ETFs is in direct response to ESMA’s guidelines, which are applicable to existing funds from May 21, 2025. These guidelines aim to provide clarity on the use of ESG-related terms in the names of investment products. Legal & General’s move is a proactive step to ensure compliance ahead of the deadline.
The funds undergoing name changes include a variety of bond and equity ETFs that focus on emerging markets, corporate bonds, and quality dividends in different regions. For instance, the ’L&G ESG Emerging Markets Corporate Bond (USD) UCITS ETF’ will become the ’L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF’. Similar changes will be made to other funds, with ’Screened’ or ’Equal Weight’ being appended to their new names as appropriate.
It is important to note that these name changes will not affect the investment objectives, policies, or indices of the sub-funds. Investors in the funds should expect the same management and strategies that have been in place prior to the name changes.
A circular has been issued to the registered holder of shares in the sub-funds, which is the Bank of New York Mellon (NYSE:BK) (Depository) Nominees Limited, to inform them of these modifications. This information is also available for public inspection at the National Storage Mechanism and Legal & General’s website.
Legal & General Investment Management Limited has communicated that there is no further action required from shareholders concerning these changes. The company has provided contact information for fund sales inquiries but has not disclosed any additional details regarding the impact of the renaming on market performance or positioning.
This article is based on a press release statement from Legal & General UCITS ETF PLC.
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