L&G LSF African Government Bond (USD) UCITS ETF
MOBILIST has invested alongside Legal & General Asset Management (L&G) to co-seed the launch of the L&G LSF African Government Bond (USD) UCITS ETF. The investment marks the first time a UK government programme has provided seed funding to an ETF and creates a new route for investors to access African sovereign debt through public markets.
INVESTMENT SNAPSHOT
Stock Exchanges
4
FCDO Investment
$9m
Date
06.08.2026
The L&G LSF African Government Bond (USD) UCITS ETF is listed on the London Stock Exchange and subsequently listed on Deutsche Börse, SIX Swiss Exchange and Borsa Italiana. The ETF provides investors with a transparent, diversified and rules-based route to access African sovereign Eurobonds through a listed investment vehicle.
The ETF tracks the iBoxx LSF USD African Sovereigns Index, which measures the performance of a universe of USD-denominated African sovereign Eurobonds that the Liquidity and Sustainability Facility (LSF) has defined as eligible under its framework for secondary market operations.
MOBILIST supported the launch of the index in 2024, with S&P Dow Jones Indices as index provider. The index was developed to provide a recognised benchmark for African sovereign debt and help create the foundations for investment products capable of attracting a broader range of investors to African debt markets.
MOBILIST’s role is catalytic. By providing seed funding alongside L&G, the programme is helping the ETF launch at a credible initial size and establish the liquidity and track record needed to attract follow-on investment. This targeted use of development finance demonstrates how public capital can help establish market infrastructure that private investors can continue to use.
The transaction represents an innovative partnership between a major global asset manager and a UK development finance programme, demonstrating how targeted public capital can support the creation of investable public-market products with the potential to mobilise private capital at scale.
Learn more about the L&G LSF African Government Bond (USD) UCITS ETF:
Legal & General announcement