Fixed Income

BGF Emerging Markets Local Currency Bond Fund

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.


Important Information:
Investors must read the Prospectus for any fund in which they wish to invest. Please contact us at the BlackRock Advisors UK Limited-Dubai Branch for the relevant Prospectus.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

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Distributions

Ex-Date Total Distribution
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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 5.7 -4.3 16.5 0.1 -7.7 13.9 -6.8 -0.5 -3.8 11.7
Constraint Benchmark 1 (%) 7.4 -5.2 13.2 1.2 -1.5 15.6 -5.8 -1.8 -5.9 8.9

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
4.96 2.43 -0.01 1.04 1.33
Constraint Benchmark 1 (%) 5.89 1.61 -0.38 1.38 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-1.37 -4.37 0.52 0.05 4.96 7.48 -0.04 10.95 26.40
Constraint Benchmark 1 (%) 1.86 -1.94 1.32 2.92 5.89 4.91 -1.90 14.74 -
  From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
From
30-Sep-2022
To
30-Sep-2023
From
30-Sep-2023
To
30-Sep-2024
Total Return (%)

as of 30-Sep-2024

-9.14 4.70 -3.78 5.27 9.56
Constraint Benchmark 1 (%)

as of 30-Sep-2024

-8.37 3.85 -6.11 4.65 7.60

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in EUR, hedged share class benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund
as of 29-Nov-2024
USD 1,609,210,880
Fund Launch Date
26-Jun-1997
Fund Base Currency
USD
Constraint Benchmark 1
JPM GBIEM Global Diversified Index
Ongoing Charges Figures
1.23%
ISIN
LU0278461065
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Global Emerging Markets Bond - Local Currency
Dealing Frequency
Daily, forward pricing basis
SEDOL
B1PGSQ1
Share Class launch date
02-Feb-2007
Share Class Currency
EUR
Asset Class
Fixed Income
Initial Charge
5.00%
Management Fee
1.00%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
MLLEEA1

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31-Oct-2024
186
Standard Deviation (3y)
as of 31-Oct-2024
7.67%
Yield to Maturity
as of 31-Oct-2024
8.70
Weighted Average YTM
as of 31-Oct-2024
8.70%
Weighted Avg Maturity
as of 31-Oct-2024
7.85
12 Month Trailing Dividend Distribution Yield
as of 31-Oct-2024
6.57
3y Beta
as of 31-Oct-2024
1.156
Modified Duration
as of 31-Oct-2024
6.72
Effective Duration
as of 31-Oct-2024
6.74
WAL to Worst
as of 31-Oct-2024
7.85

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Holdings

Holdings

as of 31-Oct-2024
Name Weight (%)
PERU (REPUBLIC OF) 6.95 08/12/2031 2.78
COLOMBIA (REPUBLIC OF) 13.25 02/09/2033 2.61
POLAND (REPUBLIC OF) 6 10/25/2033 2.53
SOUTH AFRICA (REPUBLIC OF) 8.875 02/28/2035 2.31
BRAZIL FEDERATIVE REPUBLIC OF (GOV 10 01/01/2029 2.28
Name Weight (%)
COLOMBIA (REPUBLIC OF) 7 03/26/2031 1.97
SOUTH AFRICA (REPUBLIC OF) 8.25 03/31/2032 1.94
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2026 1.74
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.64
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.64
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-2024

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-2024

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-2024

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-2024

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-2024

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A1 EUR 2.76 0.00 0.00 29-Nov-2024 2.91 2.70 LU0278461065
Class D2 Hedged GBP 13.88 0.01 0.07 29-Nov-2024 14.99 13.56 LU0827885491
Class D5 GBP 6.83 0.00 0.00 29-Nov-2024 7.42 6.70 LU1694209807
Class A4 EUR 11.15 0.00 0.00 29-Nov-2024 11.85 10.86 LU0478974834
Class A3 USD 2.93 -0.01 -0.34 29-Nov-2024 3.25 2.93 LU0278470132
Class D2 Hedged EUR 7.02 0.00 0.00 29-Nov-2024 7.61 6.91 LU0622213642
Class A4 USD 11.77 0.01 0.09 29-Nov-2024 13.13 11.70 LU0548402170
Class A2 EUR 22.53 0.01 0.04 29-Nov-2024 22.98 21.63 LU0278457204
Class A2 Hedged EUR 6.70 0.00 0.00 29-Nov-2024 7.27 6.60 LU0359002093
Class D4 EUR 11.17 0.00 0.00 29-Nov-2024 11.89 10.88 LU0827885145
Class A2 USD 23.77 0.01 0.04 29-Nov-2024 25.70 23.23 LU0278470058
Class A1 USD 2.91 0.00 0.00 29-Nov-2024 3.21 2.91 LU0278477574
Class D3 USD 12.12 -0.06 -0.49 29-Nov-2024 13.43 12.11 LU0523291242
Class D2 EUR 24.53 0.00 0.00 29-Nov-2024 25.01 23.51 LU0329592702
Class A6 USD 5.98 -0.04 -0.66 29-Nov-2024 6.70 5.98 LU1408528211
Class AI5 EUR 8.29 0.00 0.00 29-Nov-2024 8.70 8.07 LU1960220660
Class D2 USD 25.89 0.02 0.08 29-Nov-2024 27.96 25.24 LU0383940458
Class D3 EUR 11.48 -0.06 -0.52 29-Nov-2024 12.13 11.24 LU0827884924
Class A3 EUR 2.78 -0.01 -0.36 29-Nov-2024 2.93 2.72 LU0278457469
Class D3 Hedged GBP 4.86 -0.03 -0.61 29-Nov-2024 5.41 4.86 LU0995345831
Class A6 Hedged GBP 5.26 -0.03 -0.57 29-Nov-2024 5.92 5.26 LU1408528302
Class AI2 EUR 10.89 0.00 0.00 29-Nov-2024 11.11 10.46 LU1960220587
Class D4 USD 11.79 0.01 0.08 29-Nov-2024 13.20 11.72 LU0827885228

Portfolio Managers

Portfolio Managers

Laurent Develay
Laurent Develay
Amer Bisat
Managing Director, Head of Emerging Markets Fixed Income

Amer Bisat, PhD., Managing Director, is Head of Emerging Markets Fixed Income and a member of the Fundamental-GFI Executive Committee.

Michal Wozniak
Michal Wozniak

Literature

Literature