Legal & General launches short dated corporate bond tracker

Legal & General Investments has expanded its index tracker range with a new fund tracking a short-dated corporate bond index.

Legal & General Short Dated Sterling Corporate Bond Index fund will track the Markit iBoxx Sterling Corporates 1-5 index, which consists of corporate bonds that have a maturity of between one and five years.

The fund will have an ongoing charges figure (OCF) of 0.21 per cent and Legal & General said it was looking to make the fund available “through all major intermediary platforms”.

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Simon Pistell, managing director of Legal & General Investments, said: “With the launch of this new fund, we are building on our commitment to offer simple, high quality and low cost index funds to the retail market.”