Equity

BGF World Mining 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 (%) -23.42 -42.81 50.27 28.11 -20.00 15.63 30.03 14.55 -3.02 -3.33
Constraint Benchmark 1 (%) -16.77 -41.08 66.93 31.19 -13.59 28.00 33.96 14.08 -0.97 8.49

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

  1Y 3Y 5Y 10y Incept.
-17.70 0.38 6.90 0.69 -5.35
Constraint Benchmark 1 (%) -9.77 5.37 12.32 6.37 0.20
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-6.02 -6.02 6.85 -11.00 -17.70 1.16 39.62 7.11 -59.04
Constraint Benchmark 1 (%) -6.51 -6.51 9.33 -5.99 -9.77 16.98 78.79 85.40 3.26
  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

15.63 30.03 14.55 -3.02 -3.33
Constraint Benchmark 1 (%)

as of Dec 31, 2023

28.00 33.96 14.08 -0.97 8.49
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 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 Feb 26, 2024 USD 4,473,780,134
Share Class Inception Date Oct 31, 2007
Fund Inception Date Mar 21, 1997
Share Class Currency EUR
Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI ACWI Metals & Mining 30% Buffer 10/40 (1994) USD (USD)
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 2.06%
ISIN LU0326424115
Annual Management Fee 1.75%
Performance Fee 0.00%
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker B92A GR
SEDOL B3KVC74

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 31, 2024 55
Standard Deviation (3y) as of Jan 31, 2024 28.02%
3y Beta as of Jan 31, 2024 0.981
P/E Ratio as of Jan 31, 2024 8.24
P/B Ratio as of Jan 31, 2024 1.76

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 Feb 21, 2024 A
MSCI ESG % Coverage as of Feb 21, 2024 93.79
MSCI ESG Quality Score (0-10) as of Feb 21, 2024 6.56
MSCI ESG Quality Score - Peer Percentile as of Feb 21, 2024 65.94
Fund Lipper Global Classification as of Feb 21, 2024 Equity Sector Materials
Funds in Peer Group as of Feb 21, 2024 138
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Feb 21, 2024 380.49
MSCI Weighted Average Carbon Intensity % Coverage as of Feb 21, 2024 92.85
All data is from MSCI ESG Fund Ratings as of Feb 21, 2024, based on holdings as of Sep 30, 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 26.72%
MSCI - Nuclear Weapons as of Jan 31, 2024 0.00%
MSCI - Thermal Coal as of Jan 31, 2024 17.22%
MSCI - Civilian Firearms as of Jan 31, 2024 0.00%
MSCI - Oil Sands as of Jan 31, 2024 2.86%
MSCI - Tobacco as of Jan 31, 2024 0.00%

Business Involvement Coverage as of Jan 31, 2024 97.00%
Percentage of Fund not covered as of Jan 31, 2024 3.03%
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 23.73% and for Oil Sands 4.56%.

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 considers ESG criteria in combination with other information during the idea generation, company research, portfolio construction and ongoing monitoring phases of the investment process. ESG information may be sourced from third-party vendors, as well as internal engagement commentary and site visits and input from BlackRock Investment Stewardship. 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

Risk Indicator

Risk Indicator

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2
3
4
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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Jan 31, 2024
Name Weight (%)
BHP GROUP LTD 9.47
RIO TINTO PLC 8.50
GLENCORE PLC 7.78
VALE SA 6.52
FREEPORT-MCMORAN INC 5.28
Name Weight (%)
NUCOR CORPORATION 3.96
WHEATON PRECIOUS METALS CORP 3.92
CAMECO CORPORATION 3.31
IVANHOE MINES LTD 3.24
BARRICK GOLD CORP 3.00
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
Sorry, countries/regions are not available at this time.
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 Hgd EUR 4.04 -0.04 -0.98 Feb 26, 2024 5.12 4.03 LU0326424115
Class AI2 EUR 15.14 -0.19 -1.24 Feb 26, 2024 18.95 15.14 LU1960219498
A2 USD 55.16 -0.57 -1.02 Feb 26, 2024 68.40 54.64 LU0075056555
A2 EUR 50.85 -0.64 -1.24 Feb 26, 2024 63.65 50.85 LU0172157280
Class AI2 Hedged EUR 12.13 -0.13 -1.06 Feb 26, 2024 15.39 12.11 LU1960224738
I2 GBP 50.02 -0.49 -0.97 Feb 26, 2024 64.15 50.02 LU2527846245
C2 EUR 37.41 -0.47 -1.24 Feb 26, 2024 47.40 37.41 LU0331290337
Class S2 USD 14.27 -0.14 -0.97 Feb 26, 2024 17.54 14.09 LU1706559157
C2 Hgd EUR 3.30 -0.03 -0.90 Feb 26, 2024 4.23 3.30 LU0326424974
Class X10 USD 8.13 -0.09 -1.09 Feb 26, 2024 10.48 8.10 LU2471418983
C2 USD 40.57 -0.43 -1.05 Feb 26, 2024 50.86 40.34 LU0147405384
E2 EUR 45.02 -0.57 -1.25 Feb 26, 2024 56.62 45.02 LU0172157363
D2 Hgd EUR 4.55 -0.04 -0.87 Feb 26, 2024 5.73 4.53 LU0326425278
A4 GBP 37.94 -0.37 -0.97 Feb 26, 2024 49.88 37.94 LU0204068877
D2 Hgd PLN 8.69 -0.09 -1.03 Feb 26, 2024 10.73 8.63 LU0827890061
D2 Hgd GBP 31.39 -0.33 -1.04 Feb 26, 2024 39.16 31.14 LU0827890145
Class I4 GBP 9.22 -0.09 -0.97 Feb 26, 2024 12.04 9.22 LU2527846328
Class S2 EUR 13.15 -0.17 -1.28 Feb 26, 2024 16.31 13.15 LU2459103805
D2 Hgd CHF 7.13 -0.08 -1.11 Feb 26, 2024 9.16 7.13 LU0827889998
A4 EUR 45.59 -0.57 -1.23 Feb 26, 2024 57.92 45.59 LU0408222593
D2 USD 63.15 -0.66 -1.03 Feb 26, 2024 77.80 62.42 LU0252968341
A2 Hgd CHF 6.54 -0.07 -1.06 Feb 26, 2024 8.45 6.54 LU0521028554
D4 GBP 38.17 -0.37 -0.96 Feb 26, 2024 50.20 38.17 LU0827889725
Class S2 Hedged EUR 12.73 -0.13 -1.01 Feb 26, 2024 16.01 12.68 LU2099033859
X2 Hgd EUR 5.34 -0.06 -1.11 Feb 26, 2024 6.66 5.31 LU0485065857
X2 USD 80.02 -0.82 -1.01 Feb 26, 2024 97.50 78.80 LU0147406192
D2 Hgd SGD 7.51 -0.07 -0.92 Feb 26, 2024 9.44 7.47 LU0827890228
D2 EUR 58.23 -0.72 -1.22 Feb 26, 2024 72.34 58.23 LU0252963383
A2 Hgd AUD 9.90 -0.10 -1.00 Feb 26, 2024 12.58 9.88 LU1023059493
E2 Hgd EUR 3.72 -0.04 -1.06 Feb 26, 2024 4.74 3.72 LU0326425351
I2 USD 63.43 -0.66 -1.03 Feb 26, 2024 77.97 62.65 LU0368260294
A2 Hgd SGD 4.75 -0.05 -1.04 Feb 26, 2024 6.01 4.74 LU0330918003
X2 GBP 63.10 -0.61 -0.96 Feb 26, 2024 72.43 63.10 LU2699150053
A2 Hgd HKD 9.44 -0.10 -1.05 Feb 26, 2024 11.82 9.37 LU0788109121
I2 EUR 58.48 -0.73 -1.23 Feb 26, 2024 72.47 58.48 LU0368236583
A2 Hgd PLN 7.99 -0.08 -0.99 Feb 26, 2024 9.92 7.95 LU0480534758
E2 USD 48.83 -0.51 -1.03 Feb 26, 2024 60.81 48.44 LU0090845842
Class A10 USD 9.06 -0.10 -1.09 Feb 26, 2024 12.00 9.06 LU2533724279
I2 Hgd EUR 4.73 -0.05 -1.05 Feb 26, 2024 5.95 4.71 LU0368236740

Portfolio Managers

Portfolio Managers

Evy Hambro
Managing Director, Global Head of Thematic and Sector based Investing, Fundamental Equity

Stephanie Lee

Olivia Markham
Olivia Markham

Literature

Literature