Equity

BGF United Kingdom 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.

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

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

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

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -6.32 5.10 -10.44 25.91 -15.50 27.14 7.83 13.05 -30.17 22.61
Constraint Benchmark 1 (%) -4.75 -4.55 -2.12 23.82 -14.77 23.95 -6.94 17.24 -10.89 14.37

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

  1Y 3Y 5Y 10y Incept.
14.39 -1.23 4.51 2.57 4.60
Constraint Benchmark 1 (%) 5.41 5.73 4.77 2.86 -
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
0.39 0.39 14.57 4.17 14.39 -3.65 24.69 28.83 213.73
Constraint Benchmark 1 (%) -1.43 -1.43 11.47 0.10 5.41 18.20 26.25 32.63 -
  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 Dec 31, 2023

27.14 7.83 13.05 -30.17 22.61
Constraint Benchmark 1 (%)

as of Dec 31, 2023

23.95 -6.94 17.24 -10.89 14.37
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

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 GBP.

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 Feb 21, 2024 GBP 202,601,218
Share Class Inception Date Sep 1, 1998
Fund Inception Date Dec 31, 1985
Share Class Currency USD
Base Currency GBP
Asset Class Equity
Constraint Benchmark 1 FTSE All-Share Index in USD
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 1.80%
ISIN LU0171293334
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment -
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category UK Large-Cap Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MERSUUI
SEDOL 5535187

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 31, 2024 38
Standard Deviation (3y) as of Jan 31, 2024 19.83%
3y Beta as of Jan 31, 2024 1.026
P/E Ratio as of Jan 31, 2024 15.88
P/B Ratio as of Jan 31, 2024 2.41

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 Jan 19, 2024 AA
MSCI ESG % Coverage as of Jan 19, 2024 98.55
MSCI ESG Quality Score (0-10) as of Jan 19, 2024 7.89
MSCI ESG Quality Score - Peer Percentile as of Jan 19, 2024 61.69
Fund Lipper Global Classification as of Jan 19, 2024 Equity UK
Funds in Peer Group as of Jan 19, 2024 851
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 19, 2024 64.27
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 19, 2024 98.14
All data is from MSCI ESG Fund Ratings as of Jan 19, 2024, based on holdings as of Aug 31, 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 Jan 31, 2024 0.00%
MSCI - UN Global Compact Violators as of Jan 31, 2024 0.00%
MSCI - Nuclear Weapons as of Jan 31, 2024 0.00%
MSCI - Thermal Coal as of Jan 31, 2024 0.00%
MSCI - Civilian Firearms as of Jan 31, 2024 0.00%
MSCI - Oil Sands as of Jan 31, 2024 0.00%
MSCI - Tobacco as of Jan 31, 2024 0.00%

Business Involvement Coverage as of Jan 31, 2024 99.96%
Percentage of Fund not covered as of Jan 31, 2024 0.04%
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 8.43%.

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 phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF United Kingdom Fund, Class A2, as of Jan 31, 2024 rated against 564 UK Large-Cap Equity Funds.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Jan 31, 2024
Name Weight (%)
ASTRAZENECA PLC 9.23
RELX PLC 6.64
RIO TINTO PLC 6.52
SHELL PLC 6.40
COMPASS GROUP PLC 5.77
Name Weight (%)
3I GROUP PLC 4.49
NEXT PLC 4.45
LONDON STOCK EXCHANGE GROUP PLC 4.35
PEARSON PLC 3.65
RECKITT BENCKISER GROUP PLC 3.63
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jan 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Jan 31, 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
A2 USD 160.72 -1.02 -0.63 Feb 21, 2024 163.61 135.04 LU0171293334
X2 GBP 163.24 -0.68 -0.41 Feb 21, 2024 164.95 141.10 LU0147381346
A4 GBP 103.97 -0.44 -0.42 Feb 21, 2024 105.07 92.14 LU0204064025
E2 EUR 131.27 -0.66 -0.50 Feb 21, 2024 132.95 113.43 LU0171293250
A2 EUR 148.63 -0.74 -0.50 Feb 21, 2024 150.52 127.82 LU0171293177
C2 GBP 93.48 -0.39 -0.42 Feb 21, 2024 94.47 83.10 LU0147381262
D4 GBP 104.66 -0.44 -0.42 Feb 21, 2024 105.77 92.78 LU0827886036
D2 EUR 167.89 -0.83 -0.49 Feb 21, 2024 170.02 143.38 LU0679964535
Class I4 GBP 10.80 -0.05 -0.46 Feb 21, 2024 10.91 9.58 LU2211194795
D2 GBP 143.81 -0.61 -0.42 Feb 21, 2024 145.33 125.48 LU0329592967
I2 GBP 15.26 -0.06 -0.39 Feb 21, 2024 15.42 13.28 LU1495983246
A2 GBP 127.32 -0.53 -0.41 Feb 21, 2024 128.66 111.87 LU0011847091
X2 EUR 190.57 -0.94 -0.49 Feb 21, 2024 192.98 161.22 LU0468812655
E2 GBP 112.45 -0.48 -0.43 Feb 21, 2024 113.64 99.27 LU0090845172
C2 EUR 109.12 -0.55 -0.50 Feb 21, 2024 110.52 94.95 LU0331287200
D2 USD 181.54 -1.16 -0.63 Feb 21, 2024 184.73 151.47 LU0827885905

Portfolio Managers

Portfolio Managers

Luke Chappell
Luke Chappell
Samantha Brownlee
Samantha Brownlee

Literature

Literature