Fixed Income

BGF Euro Bond Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
Loading

Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart

Distributions

Record Date Ex-Date Payable Date
View full table
  From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of Dec 31, 2020

-0.04 14.88 -5.32 4.07 13.77
Benchmark (%)

as of Dec 31, 2020

0.31 14.61 -4.40 4.08 13.44
  1Y 3Y 5Y 10y Incept.
10.14 2.15 4.10 2.73 6.04
Benchmark (%)

as of Feb 28, 2021

10.08 2.72 4.25 2.74 6.24
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-3.49 -1.95 -1.22 10.14 6.59 22.24 30.97 217.14
Benchmark (%)

as of Feb 28, 2021

-2.80 -1.65 -0.44 10.08 8.38 23.15 30.97 229.09
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.

Key Facts

Key Facts

Size of Fund (Millions) as of Mar 8, 2021 EUR 4,973.344
12m Trailing Yield as of Jun 30, 2020 0.00
Number of Holdings as of Feb 26, 2021 892
Base Currency Euro
Fund Inception Date Mar 31, 1994
Share Class Inception Date Jun 29, 2001
Asset Class Fixed Income
Morningstar Category EUR Diversified Bond
Benchmark Index BBG Barc Euro Aggregate 500+ in USD
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.97%
ISIN LU0171278889
Bloomberg Ticker MIGSEXD
Annual Management Fee 0.75%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL 7160866
Bloomberg Benchmark Ticker LEUR500USD
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5000
Minimum Subsequent Investment -
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Feb 26, 2021 0.03%
Modified Duration as of Feb 26, 2021 7.69 yrs
Effective Duration as of Feb 26, 2021 7.55 yrs
Weighted Avg Maturity as of Feb 26, 2021 8.63 yrs
3y Volatility - Benchmark as of Feb 28, 2021 7.00
3y Beta as of Feb 28, 2021 1.086
5y Volatility - Benchmark as of Feb 28, 2021 7.45
5y Beta as of Feb 28, 2021 1.032
WAL to Worst as of Feb 26, 2021 8.63 yrs

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Feb 5, 2021 A
MSCI ESG Quality Score (0-10) as of Feb 5, 2021 6.96
MSCI ESG Quality Score - Peer Percentile as of Feb 5, 2021 71.24
MSCI ESG % Coverage as of Feb 5, 2021 91.12
Fund Lipper Global Classification as of Feb 5, 2021 Bond EUR
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Feb 5, 2021 77.99
Funds in Peer Group as of Feb 5, 2021 306
All data is from MSCI ESG Fund Ratings as of Feb 5, 2021, based on holdings as of Aug 31, 2020. 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% of the fund’s gross weight must come from securities covered 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. For newly launched funds, sustainability characteristics are typically available 6 months after launch.

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 Feb 26, 2021 0.00%
MSCI - UN Global Compact Violators as of Feb 26, 2021 1.18%
MSCI - Nuclear Weapons as of Feb 26, 2021 0.00%
MSCI - Thermal Coal as of Feb 26, 2021 0.00%
MSCI - Civilian Firearms as of Feb 26, 2021 0.00%
MSCI - Oil Sands as of Feb 26, 2021 0.00%
MSCI - Tobacco as of Feb 26, 2021 0.33%

Business Involvement Coverage as of Feb 26, 2021 42.88%
Percentage of Fund not covered as of Feb 26, 2021 57.12%
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 0.55%.

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 material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG 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, social or governance topics, or 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. 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.

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for BGF Euro Bond Fund, Class A1, as of Dec 31, 2017 rated against 1167 EUR Diversified Bond Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Dec 21, 2015)

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Feb 26, 2021
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 4.25 07/04/2039 1.65
ITALY (REPUBLIC OF) 1.85 07/01/2025 1.52
ITALY (REPUBLIC OF) 1.45 11/15/2024 1.35
FRANCE (REPUBLIC OF) 1.75 06/25/2039 1.31
GERMANY (FEDERAL REPUBLIC OF) 4.75 07/04/2040 1.02
Name Weight (%)
ITALY (REPUBLIC OF) 0.05 04/15/2021 0.98
SPAIN (KINGDOM OF) 2.75 10/31/2024 0.90
CAISSE AMORTISSEMENT DE LA DETTE S RegS 0 02/25/2026 0.88
UNEDIC MTN RegS 0.875 05/25/2028 0.85
FRANCE (REPUBLIC OF) 0.75 05/25/2052 0.84
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
A1 USD Daily 24.74 -0.07 -0.28 26.20 21.11 - LU0171278889 - -
E2 USD Accumulating 32.77 -0.09 -0.27 34.73 28.10 - LU0171279937 - -
D2 USD Accumulating 38.44 -0.10 -0.26 40.68 32.69 - LU0827877472 - -
D4 GBP Annual 24.18 -0.08 -0.33 26.44 23.57 - LU0827877712 - -
Class AI2 EUR - 10.51 -0.01 -0.10 10.77 9.85 - LU1960220827 - -
A3 USD Monthly 24.73 -0.07 -0.28 26.19 21.10 - LU0172748641 - -
Class I4 EUR Annual 10.66 0.00 0.00 10.91 9.98 - LU1808491655 - -
A1 EUR Daily 20.83 0.01 0.05 21.34 19.52 - LU0118259232 - -
D2 EUR Accumulating 32.36 0.01 0.03 33.13 30.23 - LU0297941469 - -
I4 Hgd GBP Annual 11.42 0.01 0.09 11.66 10.64 - LU1376384282 - -
D3 EUR Monthly 20.89 0.00 0.00 21.40 19.56 - LU0827877555 - -
D4 Hgd GBP Annual 11.38 0.00 0.00 11.63 10.61 - LU1376384365 - -
A2 Hgd PLN Accumulating 114.12 0.03 0.03 116.83 106.26 - LU1499592381 - -
I4 Hgd USD Annual 11.34 0.00 0.00 11.59 10.53 - LU1808491812 - -
D3 USD Monthly 24.81 -0.07 -0.28 26.27 21.15 - LU0827877639 - -
A2 EUR Accumulating 30.81 0.00 0.00 31.57 28.88 - LU0050372472 - -
E5 EUR Quarterly 25.75 0.00 0.00 26.41 24.25 - LU0500207468 - -
A4 EUR Annual 27.91 0.01 0.04 28.59 26.16 - LU0430265933 - -
A4 GBP Annual 24.06 -0.09 -0.37 26.34 23.47 - LU0204069685 - -
C2 USD Accumulating 27.58 -0.08 -0.29 29.27 23.82 - LU0331283399 - -
A2 USD Accumulating 36.60 -0.10 -0.27 38.76 31.23 - LU0171279184 - -
E2 EUR Accumulating 27.59 0.00 0.00 28.30 25.99 - LU0090830810 - -
A2 Hgd JPY Accumulating 1,079.00 0.00 0.00 1,105.00 1,010.00 - LU1668663914 - -
Class S4 EUR Annual 10.69 0.00 0.00 10.94 10.01 - LU1722863484 - -
A3 EUR Monthly 20.82 0.00 0.00 21.33 19.51 - LU0172396516 - -
C2 EUR Accumulating 23.22 0.00 0.00 23.86 22.03 - LU0147393358 - -
D2 Hgd USD Accumulating 14.73 0.01 0.07 15.05 13.63 - LU0869640077 - -
I2 Hgd JPY Accumulating 1,098.00 0.00 0.00 1,123.00 1,023.00 - LU1668661629 - -
I2 EUR Accumulating 15.55 0.00 0.00 15.92 14.51 - LU0368229703 - -
I2 Hgd CHF Accumulating 11.07 0.00 0.00 11.34 10.37 - LU1180456292 - -
A2 Hgd USD Accumulating 14.30 0.00 0.00 14.62 13.29 - LU0869650977 - -
I2 Hgd USD Accumulating 12.52 0.00 0.00 12.79 11.58 - LU1376384100 - -
X2 EUR Accumulating 34.95 0.01 0.03 35.73 32.46 - LU0298377911 - -
D4 EUR Annual 12.38 0.00 0.00 12.67 11.59 - LU0938162699 - -
D2 Hgd CHF Accumulating 12.43 0.00 0.00 12.74 11.66 - LU1266592374 - -
A2 CZK Accumulating 813.63 1.29 0.16 858.00 784.66 - LU1791174284 - -

Portfolio Managers

Portfolio Managers

Ronald van Loon
Ronald van Loon
Michael Krautzberger
Managing Director, Head of EMEA Fundamental Fixed Income

Michael Krautzberger, CFA, EFFAS, Managing Director. Michael is Head of the Fundamental Pan European Fixed Income team.

Literature

Literature