The fund will be managed by Robert Dowling, former portfolio manager at State Street Global Advisors.
He said: "The fund will invest primarily in securities that make up the constituents of the Index, with an aim to efficiently track these markets with minimal tracking error."
Financial Express data shows that the FTSE All-World Emerging Index has outperformed the fund’s UT Global Emerging Markets Retail sector over the last five years, with a similar level of volatility.
Performance over 5-yrs
Source: Financial Express Analytics
Simon Ellis, managing director of Legal & General added: "Many advisers have asked us why there are so few options to invest in Global Emerging markets through passive funds in the UK. They want to capture the general growth in these markets, but without the costs and variability in performance of buying active funds."
"We have designed a fund that aims to give good value access to the emerging market story, and creates a new tool for advisers to build multi-asset class portfolios."