UK-based Legal & General Investment Management (LGIM) has rolled out two new index funds namely the Legal & General Global Real Estate Dividend Index Fund as well as the Legal & General Emerging Markets Government Bond (Local Currency) Index Fund.

Managed by the LGIM Index Funds Team, the Global Real Estate Dividend Index Fund and the Local Currency Index Fund will have ongoing fund charge (OCF) of 0. 2% and 0.35% respectively.

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The LGIM team comprises 35 investment staff based in London and manages £264bn for both retail and institutional clients. The new funds will be offered through all major intermediary platforms.

The Real Estate Dividend Index Fund aims to track the performance of the FTSE EPRA/NAREIT Developed Dividend Plus Index and will invest in global developed market property companies and Real Estate Investment Trusts.

The local currency Emerging Markets Government Bond will track the JPMorgan GBI-EM Global Diversified Local Currency Index and offer passive exposure to local currency denominated emerging market debt.

LGIM head of retail distribution EMEA Honor Solomon said: "Advisers and wealth managers are increasingly looking to index funds as a straightforward means of consistently generating market returns across a range of asset classes whilst reducing overall portfolio costs.

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"The new local currency Emerging Markets Government Bond and Global Real Estate Dividend Index Funds will provide simple, high-quality and cost-effective exposure to asset classes that have the potential to provide an attractive income and are increasingly important building blocks within diversified portfolios."