Equity

BGF European Equity Income 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.

Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. This Share Class may pay dividends or take charges from capital.While this may allow more income to be distributed, it may reduce the value of your holdings and impact the potential for long term capital growth. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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 8 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -5.7 13.4 -10.1 31.3 1.8 22.0 -8.7 17.5
Constraint Benchmark 1 (%) 2.6 10.2 -10.6 26.0 -3.3 25.1 -9.5 15.8

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

  1y 3y 5y 10y Incept.
24.24 6.97 8.92 - 6.40
Constraint Benchmark 1 (%) 19.20 5.22 7.50 - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
10.06 -2.41 0.20 3.49 24.24 22.42 53.30 - 81.29
Constraint Benchmark 1 (%) 7.98 -3.26 -2.13 1.25 19.20 16.48 43.54 - -
  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

-0.23 20.46 -8.84 18.88 22.17
Constraint Benchmark 1 (%)

as of 30-Sep-2024

-7.76 28.76 -11.04 19.22 18.80

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 USD, hedged share class benchmark performance is displayed in EUR.

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 07-Nov-2024
EUR 1,486,285,276
Fund Launch Date
03-Dec-2010
Fund Base Currency
EUR
Constraint Benchmark 1
MSCI Europe Net TR in EUR
Ongoing Charges Figures
1.07%
ISIN
LU1200839964
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Other Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
BWC4XJ3
Share Class launch date
25-Mar-2015
Share Class Currency
USD
Asset Class
Equity
Initial Charge
5.00%
Management Fee
0.75
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGEED6U

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31-Oct-2024
47
Standard Deviation (3y)
as of 31-Oct-2024
13.14%
P/E Ratio
as of 31-Oct-2024
18.23
12 Month Trailing Dividend Distribution Yield
as of 31-Oct-2024
3.64
3y Beta
as of 31-Oct-2024
0.930
P/B Ratio
as of 31-Oct-2024
2.65

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.

The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of 21-Sep-2024
AA
MSCI ESG Quality Score (0-10)
as of 21-Sep-2024
8.10
Fund Lipper Global Classification
as of 21-Sep-2024
Equity Europe Income
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Sep-2024
87.13
MSCI ESG % Coverage
as of 21-Sep-2024
97.65
MSCI ESG Quality Score - Peer Percentile
as of 21-Sep-2024
83.93
Funds in Peer Group
as of 21-Sep-2024
112
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Sep-2024
96.89
All data is from MSCI ESG Fund Ratings as of 21-Sep-2024, based on holdings as of 30-Apr-2024. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

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.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of 31-Oct-2024
0.00%
MSCI - Nuclear Weapons
as of 31-Oct-2024
1.47%
MSCI - Civilian Firearms
as of 31-Oct-2024
1.30%
MSCI - Tobacco
as of 31-Oct-2024
0.00%
MSCI - UN Global Compact Violators
as of 31-Oct-2024
0.00%
MSCI - Thermal Coal
as of 31-Oct-2024
0.00%
MSCI - Oil Sands
as of 31-Oct-2024
0.00%

Business Involvement Coverage
as of 31-Oct-2024
98.83%
Percentage of Fund not covered
as of 31-Oct-2024
1.08%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

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
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7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 30-Sep-2024
Name Weight (%)
NOVO NORDISK A/S 4.27
ENEL SPA 4.04
COMPAGNIE DE SAINT GOBAIN SA 3.24
ASTRAZENECA PLC 3.21
UNICREDIT SPA 3.18
Name Weight (%)
UNILEVER PLC 3.16
ASML HOLDING NV 3.10
SANOFI SA 3.03
VINCI SA 2.95
SCHNEIDER ELECTRIC SE 2.76
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-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 D6 Hedged USD 12.47 0.11 0.89 07-Nov-2024 12.78 10.49 LU1200839964
Class D4G GBP 13.50 0.10 0.75 07-Nov-2024 14.45 12.04 LU2091194550
Class A4G EUR 16.85 0.15 0.90 07-Nov-2024 17.61 14.51 LU0619515397
Class AI5G EUR 12.08 0.11 0.92 07-Nov-2024 12.53 10.41 LU1960221551
Class D4G EUR 16.23 0.14 0.87 07-Nov-2024 16.91 13.87 LU0875160912
Class A5G Hedged USD 25.68 0.22 0.86 07-Nov-2024 26.44 21.75 LU1003076772
Class A6 Hedged USD 14.42 0.13 0.91 07-Nov-2024 14.79 12.23 LU1019632923
Class D2 USD 33.73 0.57 1.72 07-Nov-2024 35.54 27.49 LU1984140779
Class D5G EUR 16.16 0.14 0.87 07-Nov-2024 16.71 13.82 LU0871639463
Class D2 Hedged USD 19.16 0.17 0.90 07-Nov-2024 19.56 15.54 LU1185942585
Class A5G EUR 15.95 0.14 0.89 07-Nov-2024 16.55 13.75 LU0561744862
Class D2 EUR 31.21 0.28 0.91 07-Nov-2024 31.90 25.75 LU0579997130
Class A6 Hedged GBP 15.75 0.14 0.90 07-Nov-2024 16.16 13.43 LU1051771274
Class AI2 EUR 15.10 0.14 0.94 07-Nov-2024 15.44 12.55 LU1960221478
Class A2 EUR 28.34 0.25 0.89 07-Nov-2024 28.99 23.56 LU0562822386
Class D3G USD 11.12 0.19 1.74 07-Nov-2024 11.74 9.39 LU2589087670
Class A2 Hedged USD 20.94 0.18 0.87 07-Nov-2024 21.39 17.11 LU1153584641
Class A2 USD 30.63 0.52 1.73 07-Nov-2024 32.30 25.15 LU2091194634
Class A6 EUR 11.90 0.10 0.85 07-Nov-2024 12.23 10.27 LU1051768569
Class A8 Hedged USD 11.18 0.09 0.81 07-Nov-2024 11.50 9.61 LU2114397693
Class D5G Hedged GBP 15.44 0.14 0.92 07-Nov-2024 15.88 13.05 LU0949170855

Portfolio Managers

Portfolio Managers

Andreas Zoellinger
Andreas Zoellinger
Brian Hall
Managing Director

  

Stuart Brown
Stuart Brown

Literature

Literature