Fixed Income

BGF Emerging Markets Bond 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.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
View full table
  From
30-Jun-2016
To
30-Jun-2017
From
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
Total Return (%)

as of Jun 30, 2021

6.38 -5.14 8.69 -4.75 9.71
Benchmark (%)

as of Jun 30, 2021

6.04 -1.60 12.45 0.49 7.53
  1Y 3Y 5Y 10y Incept.
4.96 3.25 2.24 3.06 4.95
Benchmark (%)

as of Jul 31, 2021

4.11 5.96 4.57 5.65 7.21
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-0.99 -0.52 0.86 4.96 10.06 11.73 35.12 125.50
Benchmark (%)

as of Jul 31, 2021

-0.25 0.42 2.23 4.11 18.97 25.06 73.34 222.51
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 Aug 5, 2021 USD 1,581.384
12m Trailing Yield as of Jul 31, 2021 1.86
Number of Holdings as of Jul 30, 2021 268
Base Currency U.S. Dollar
Fund Inception Date Oct 1, 2004
Share Class Inception Date Oct 1, 2004
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Bond
Benchmark Index JP Morgan EMBI Global Diversified Index
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 2.71%
ISIN LU0200681327
Bloomberg Ticker MLEMUC1
Annual Management Fee 2.50%
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL B0347P2
Bloomberg Benchmark Ticker JPGCCOMP
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Jul 30, 2021 5.15%
Modified Duration as of Jul 30, 2021 6.23 yrs
Effective Duration as of Jul 30, 2021 6.21 yrs
Weighted Avg Maturity as of Jul 30, 2021 13.08 yrs
3y Volatility - Benchmark as of Jul 31, 2021 10.85
3y Beta as of Jul 31, 2021 1.237
5y Volatility - Benchmark as of Jul 31, 2021 8.97
5y Beta as of Jul 31, 2021 1.196
WAL to Worst as of Jul 30, 2021 13.08 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 Jul 7, 2021 B
MSCI ESG Quality Score (0-10) as of Jul 7, 2021 2.50
MSCI ESG Quality Score - Peer Percentile as of Jul 7, 2021 12.05
MSCI ESG % Coverage as of Jul 7, 2021 95.43
Fund Lipper Global Classification as of Jul 7, 2021 Bond Emerging Markets Global HC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jul 7, 2021 1.00
Funds in Peer Group as of Jul 7, 2021 415
All data is from MSCI ESG Fund Ratings as of Jul 7, 2021, based on holdings as of Jan 31, 2021. 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 Jul 30, 2021 0.00%
MSCI - UN Global Compact Violators as of Jul 30, 2021 4.65%
MSCI - Nuclear Weapons as of Jul 30, 2021 0.00%
MSCI - Thermal Coal as of Jul 30, 2021 0.00%
MSCI - Civilian Firearms as of Jul 30, 2021 0.00%
MSCI - Oil Sands as of Jul 30, 2021 0.00%
MSCI - Tobacco as of Jul 30, 2021 0.00%

Business Involvement Coverage as of Jul 30, 2021 15.33%
Percentage of Fund not covered as of Jul 30, 2021 84.64%
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 0.36% and for Oil Sands 1.01%.

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 stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts 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

3 stars
Overall Morningstar Rating for BGF Emerging Markets Bond Fund, Class C1, as of Jul 31, 2021 rated against 1134 Global Emerging Markets Bond Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Jun 30, 2021
Name Weight (%)
UKRAINE (GOVERNMENT OF) RegS 1.258 05/31/2040 1.64
EGYPT (ARAB REPUBLIC OF) MTN RegS 8.875 05/29/2050 1.29
TURKEY (REPUBLIC OF) 5.95 01/15/2031 1.20
JORDAN (HASHEMITE KINGDOM OF) RegS 5.85 07/07/2030 1.19
QATAR (STATE OF) RegS 3.75 04/16/2030 1.11
Name Weight (%)
RUSSIAN FEDERATION RegS 5.25 06/23/2047 1.10
SOUTH AFRICA (REPUBLIC OF) 8.75 02/28/2048 1.07
BRAZIL (FEDERATIVE REPUBLIC OF) 5 01/27/2045 1.06
ECUADOR REPUBLIC OF (GOVERNMENT) RegS 0.5 07/31/2035 0.90
GHANA (REPUBLIC OF) RegS 8.625 04/07/2034 0.88
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jun 30, 2021

% of Market Value

Type Fund Benchmark Net
as of Jun 30, 2021

% of Market Value

Type Fund Benchmark Net
as of Jun 30, 2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Jun 30, 2021

% of Market Value

Type Fund Benchmark Net
as of Jun 30, 2021

% of Market Value

Type Fund Benchmark Net
as of Jun 30, 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
C1 USD Daily 9.92 -0.03 -0.30 10.15 9.46 - LU0200681327 - -
I4 Hgd EUR Annual 10.34 -0.03 -0.29 10.46 9.60 - LU2075911060 - -
E2 EUR Accumulating 15.74 0.01 0.06 15.81 14.80 - LU0200684180 - -
A3 EUR Monthly 8.66 0.00 0.00 8.74 8.33 - LU0200684008 - -
Class I4 USD Annual 10.46 -0.03 -0.29 10.57 9.63 - LU1806518293 - -
A2 Hgd GBP Accumulating 12.39 -0.04 -0.32 12.55 11.53 - LU1057296771 - -
Class I5 Hedged EUR Quarterly 9.34 -0.03 -0.32 9.61 8.93 - LU1323999216 - -
C2 USD Accumulating 16.38 -0.05 -0.30 16.60 15.35 - LU0200681673 - -
D3 USD Monthly 10.28 -0.03 -0.29 10.51 9.80 - LU0827876821 - -
A8 Hgd CNH Monthly 105.42 -0.31 -0.29 108.07 100.99 - LU1919856051 - -
Class AI5 Hedged EUR Quarterly 9.73 -0.03 -0.31 10.00 9.31 - LU1960220074 - -
A8 Hgd AUD Monthly 8.34 -0.03 -0.36 8.57 8.02 - LU0871639893 - -
D3 EUR Monthly 8.68 0.01 0.12 8.75 8.35 - LU0827877126 - -
I2 Hgd GBP - 10.91 -0.03 -0.27 11.03 10.08 - LU1806518533 - -
A2 EUR Accumulating 17.08 0.01 0.06 17.15 16.00 - LU0200683885 - -
D2 Hgd EUR Accumulating 18.27 -0.06 -0.33 18.49 16.99 - LU0827877399 - -
I2 Hgd EUR Accumulating 12.42 -0.04 -0.32 12.57 11.54 - LU1057294727 - -
I2 EUR Accumulating 16.78 0.01 0.06 16.85 15.62 - LU1048586868 - -
D2 EUR Accumulating 18.57 0.01 0.05 18.64 17.31 - LU0827877043 - -
A1 EUR Daily 8.38 0.00 0.00 8.44 8.05 - LU0200683703 - -
X2 Hgd EUR Accumulating 20.65 -0.07 -0.34 20.88 19.08 - LU0343170543 - -
A8 Hgd ZAR Monthly 93.69 -0.26 -0.28 96.00 89.76 - LU1109561420 - -
A3 USD Monthly 10.26 -0.03 -0.29 10.49 9.78 - LU0200680782 - -
Class E5 Hedged EUR Quarterly 9.09 -0.03 -0.33 9.34 8.71 - LU1062842965 - -
D2 USD Accumulating 21.98 -0.08 -0.36 22.23 20.28 - LU0297941386 - -
E2 USD Accumulating 18.63 -0.07 -0.37 18.87 17.35 - LU0200681830 - -
A1 USD Daily 9.92 -0.04 -0.40 10.15 9.46 - LU0200680436 - -
X2 USD Accumulating 24.30 -0.08 -0.33 24.54 22.26 - LU0200682721 - -
I2 Hgd CHF Accumulating 10.37 -0.03 -0.29 10.50 9.66 - LU1618350562 - -
A4 EUR Annual 12.17 0.01 0.08 12.22 11.39 - LU1072326561 - -
I4 Hgd GBP Annual 10.41 -0.03 -0.29 10.52 9.61 - LU2075910922 - -
E2 Hgd EUR Accumulating 11.22 -0.04 -0.36 11.38 10.54 - LU1062842882 - -
A6 Hgd GBP Monthly 8.73 -0.03 -0.34 9.00 8.45 - LU1408527916 - -
Class X5 Hedged CHF Quarterly 10.14 -0.03 -0.29 10.46 9.72 - LU1904800973 - -
A6 Hgd HKD Monthly 64.41 -0.21 -0.32 66.35 62.12 - LU0764619960 - -
A6 USD Monthly 8.65 -0.03 -0.35 8.91 8.34 - LU0764617162 - -
A2 Hgd EUR Accumulating 17.34 -0.06 -0.34 17.57 16.21 - LU0413376566 - -
X2 EUR Accumulating 20.53 0.02 0.10 20.60 19.01 - LU0988581723 - -
A2 CZK Accumulating 434.70 0.95 0.22 447.49 417.29 - LU1791181735 - -
Class X5 Hedged EUR Quarterly 9.00 -0.03 -0.33 9.26 8.60 - LU1722865000 - -
A2 USD Accumulating 20.22 -0.07 -0.34 20.46 18.75 - LU0200680600 - -
Class AI2 Hedged EUR - 10.51 -0.04 -0.38 10.65 9.83 - LU1960219902 - -
A8 Hgd NZD Monthly 9.25 -0.03 -0.32 9.50 8.89 - LU1408528138 - -
A6 Hgd CAD Monthly 9.13 -0.03 -0.33 9.42 8.83 - LU1408528054 - -
I2 USD Accumulating 19.87 -0.06 -0.30 20.08 18.30 - LU1180455567 - -

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Managing Director, Head of BlackRock's Emerging Markets Fixed Income

Sergio Trigo Paz, Managing Director, is Head of BlackRock's Emerging Markets Fixed Income.

Michel Aubenas, CFA
Managing Director, Portfolio Manager for Emerging Markets Debt

Michel Aubenas, CFA

Literature

Literature