Multi Asset

BGF ESG Global Conservative 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.

Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets, failed/delayed delivery of securities or payments to the Fund and sustainability-related risks. Equities and equity-related securities can be affected by daily stock market movements. Fixed Income securities can be affected by changes to interest rates, credit risk and potential or actual credit rating downgrades. Noninvestment grade FI securities can be more sensitive to these events. ABS and MBS may have high levels of borrowing and not fully reflect the value of underlying assets. FDIs are highly sensitive to changes in the value of the asset they are based on. The impact is greater where FDIs are used in an extensive or complex way. 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

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Reinvestments

This product does not have any distributions data as of now.

This chart shows the fund's performance as the percentage loss or gain per year over the last 4 years.

  2019 2020 2021 2022 2023
Total Return (%) 3.3 3.7 -12.5 5.3
Constraint Benchmark 1 (%) 7.1 4.9 -14.5 9.5

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

  1y 3y 5y 10y Incept.
2.30 -1.49 - - 0.46
Constraint Benchmark 1 (%) 6.25 -0.26 - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
0.20 0.20 8.72 3.65 2.30 -4.40 - - 2.20
Constraint Benchmark 1 (%) 0.29 0.29 8.46 3.47 6.25 -0.77 - - -
  From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
From
31-Dec-2022
To
31-Dec-2023
Total Return (%)

as of 31-Dec-2023

- 3.29 3.75 -12.55 5.26
Constraint Benchmark 1 (%)

as of 31-Dec-2023

- 7.06 4.95 -14.45 9.46

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 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 27-Feb-2024 EUR 308,912,943
Share Class launch date 24-Apr-2019
Fund Launch Date 12-Sep-2018
Share Class Currency EUR
Fund Base Currency EUR
Asset Class Multi Asset
Constraint Benchmark 1 70% Barc Global Agg Eur Hedged / 30% MSCI World Eur Hedged
Initial Charge 5.00%
Ongoing Charges Figures 1.27%
ISIN LU1960222799
Annual Management Fee -
Performance Fee -
Minimum Initial Investment EUR 25,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category EUR Cautious Allocation - Global
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGFAI2E
SEDOL BHL2TY0

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Jan-2024 1223
Standard Deviation (3y) as of 31-Jan-2024 7.02%
3y Beta as of - -
P/E Ratio as of 31-Jan-2024 12.84
P/B Ratio as of 31-Jan-2024 1.24
Yield to Maturity as of 31-Jan-2024 6.93
Modified Duration as of 31-Jan-2024 4.52
Effective Duration as of 31-Jan-2024 4.01
Weighted Avg Maturity as of 31-Jan-2024 7.17

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-Feb-2024 A
MSCI ESG % Coverage as of 21-Feb-2024 65.47
MSCI ESG Quality Score (0-10) as of 21-Feb-2024 7.05
MSCI ESG Quality Score - Peer Percentile as of 21-Feb-2024 70.97
Fund Lipper Global Classification as of 21-Feb-2024 Mixed Asset EUR Cons - Global
Funds in Peer Group as of 21-Feb-2024 596
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Feb-2024 84.27
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Feb-2024 63.86
All data is from MSCI ESG Fund Ratings as of 21-Feb-2024, based on holdings as of 31-Oct-2023. 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-Jan-2024 0.00%
MSCI - UN Global Compact Violators as of 31-Jan-2024 0.00%
MSCI - Nuclear Weapons as of 31-Jan-2024 0.00%
MSCI - Thermal Coal as of 31-Jan-2024 0.00%
MSCI - Civilian Firearms as of 31-Jan-2024 0.00%
MSCI - Oil Sands as of 31-Jan-2024 0.00%
MSCI - Tobacco as of 31-Jan-2024 0.00%

Business Involvement Coverage as of 31-Jan-2024 65.60%
Percentage of Fund not covered as of 31-Jan-2024 34.40%
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 0.03%.

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

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, societal or governance topics, and from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. Where appropriate, these reviews include discussion of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF ESG Global Conservative Income Fund, Class AI2, as of 31-Jan-2023 rated against 2186 EUR Cautious Allocation - Global Funds.

Holdings

Holdings

as of 31-Jan-2024
Name Weight (%)
GNMA2 30YR 16.28
ISHARES EU CORP BOND ESG PAR EURHA 4.14
GNMA2 30YR PLATINUM 1.23
ISH MSCI USA Qty Div ESG UCITS ETF 1.10
GNMA2 30YR 2016 PRODUCTION 1.01
Name Weight (%)
GREENCOAT UK WIND PLC 0.93
GNMA2 30YR 2012 PRODUCTION 0.83
GREENCOAT RENEWABLES PLC 0.76
GNMA2 30YR 2018 PRODUCTION 0.45
FORESIGHT SOLAR FUND LTD 0.44
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

Sorry, sectors are not available at this time.
Sorry, geographic exposures are not available at this time.
as of 31-Jan-2024

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
Sorry, maturities are not available at this time.
as of 31-Jan-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 AI2 EUR 10.14 -0.01 -0.10 27-Feb-2024 10.23 9.32 LU1960222799
Class AI5G EUR 8.44 -0.01 -0.12 27-Feb-2024 8.62 7.86 LU1960222872
Class A9 EUR EUR 8.37 -0.01 -0.12 27-Feb-2024 8.54 7.79 LU1883300615
Class A2 EUR 10.22 -0.01 -0.10 27-Feb-2024 10.31 9.40 LU1845136925
Class A4G EUR 8.42 -0.02 -0.24 27-Feb-2024 8.65 7.75 LU1845137063
Class D4G EUR 8.66 -0.02 -0.23 27-Feb-2024 8.86 7.96 LU1845137220
Class D2 EUR 10.52 -0.02 -0.19 27-Feb-2024 10.61 9.66 LU1845137147

Portfolio Managers

Portfolio Managers

Alex Shingler
CFA, Managing Director

  

Justin Christofel
CFA, CAIA, Managing Director

  

Louis Arranz
CFA, CAIA, FRM, Director

  

Literature

Literature