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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Reinvestments

This fund does not have any distributions data as of now.
  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
From
31-Dec-2020
To
31-Dec-2021
Total Return (%)

as of Dec 31, 2021

8.75 -5.75 13.83 7.59 -1.58
Benchmark (%)

as of Dec 31, 2021

10.26 -4.26 15.04 5.26 -1.80
  1Y 3Y 5Y 10y Incept.
-1.58 6.42 4.32 5.52 6.72
Benchmark (%)

as of Dec 31, 2021

-1.80 5.94 4.65 5.36 6.53
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-1.58 1.89 -1.82 -1.58 20.54 23.55 71.07 140.22
Benchmark (%)

as of Dec 31, 2021

-1.80 1.40 -0.44 -1.80 18.91 25.52 68.56 134.69
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 Jan 21, 2022 USD 1,290.001
12m Trailing Yield -
Number of Holdings as of Dec 31, 2021 263
Base Currency U.S. Dollar
Fund Inception Date Oct 1, 2004
Share Class Inception Date Jul 8, 2008
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 0.07%
ISIN LU0200682721
Bloomberg Ticker BGFMBUX
Annual Management Fee 0.00%
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL B3BG847
Bloomberg Benchmark Ticker JPGCCOMP
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 10000000
Minimum Subsequent Investment USD 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Dec 31, 2021 5.61%
Modified Duration as of Dec 31, 2021 6.34 yrs
Effective Duration as of Dec 31, 2021 6.40 yrs
Weighted Avg Maturity as of Dec 31, 2021 12.85 yrs
3y Volatility - Benchmark as of Dec 31, 2021 10.83
3y Beta as of Dec 31, 2021 1.229
5y Volatility - Benchmark as of Dec 31, 2021 8.82
5y Beta as of Dec 31, 2021 1.217
WAL to Worst as of Dec 31, 2021 12.85 yrs

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 7, 2022 B
MSCI ESG % Coverage as of Jan 7, 2022 96.36
MSCI ESG Quality Score (0-10) as of Jan 7, 2022 2.62
MSCI ESG Quality Score - Peer Percentile as of Jan 7, 2022 13.94
Fund Lipper Global Classification as of Jan 7, 2022 Bond Emerging Markets Global HC
Funds in Peer Group as of Jan 7, 2022 416
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 7, 2022 981.18
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 7, 2022 14.92
All data is from MSCI ESG Fund Ratings as of Jan 7, 2022, based on holdings as of Jul 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 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. 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 Dec 31, 2021 0.04%
MSCI - UN Global Compact Violators as of Dec 31, 2021 4.31%
MSCI - Nuclear Weapons as of Dec 31, 2021 0.00%
MSCI - Thermal Coal as of Dec 31, 2021 0.00%
MSCI - Civilian Firearms as of Dec 31, 2021 0.00%
MSCI - Oil Sands as of Dec 31, 2021 0.00%
MSCI - Tobacco as of Dec 31, 2021 0.00%

Business Involvement Coverage as of Dec 31, 2021 15.28%
Percentage of Fund not covered as of Dec 31, 2021 84.41%
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 0.27% and for Oil Sands 1.07%.

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

4 stars
Overall Morningstar Rating for BGF Emerging Markets Bond Fund, Class X2, as of Dec 31, 2021 rated against 1184 Global Emerging Markets Bond Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Sep 25, 2019)

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Dec 31, 2021
Name Weight (%)
UKRAINE (GOVERNMENT OF) RegS 1.258 05/31/2040 1.38
JORDAN (HASHEMITE KINGDOM OF) RegS 5.85 07/07/2030 1.27
NIGERIA (FEDERAL REPUBLIC OF) MTN RegS 7.143 02/23/2030 1.22
EGYPT (ARAB REPUBLIC OF) MTN RegS 8.875 05/29/2050 1.22
QATAR (STATE OF) RegS 3.75 04/16/2030 1.20
Name Weight (%)
RUSSIAN FEDERATION RegS 5.25 06/23/2047 1.19
BRAZIL (FEDERATIVE REPUBLIC OF) 5 01/27/2045 1.08
OMAN SULTANATE OF (GOVERNMENT) RegS 6.5 03/08/2047 1.01
ECUADOR REPUBLIC OF (GOVERNMENT) RegS 1 07/31/2035 0.93
COLOMBIA REPUBLIC OF (GOVERNMENT) 5 06/15/2045 0.92
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2021

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 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
X2 USD Accumulating 23.02 0.08 0.35 24.64 22.83 - LU0200682721 - -
I2 Hgd GBP - 10.29 0.03 0.29 11.05 10.21 - LU1806518533 - -
A8 Hgd CNH Monthly 97.55 0.33 0.34 107.53 96.75 - LU1919856051 - -
D3 EUR Monthly 8.40 0.03 0.36 8.82 8.32 - LU0827877126 - -
D3 USD Monthly 9.53 0.03 0.32 10.47 9.45 - LU0827876821 - -
Class I4 USD Annual 9.49 0.03 0.32 10.57 9.42 - LU1806518293 - -
I2 EUR Accumulating 16.53 0.05 0.30 17.21 15.87 - LU1048586868 - -
I4 Hgd GBP Annual 9.44 0.03 0.32 10.52 9.37 - LU2075910922 - -
I2 Hgd EUR Accumulating 11.67 0.04 0.34 12.57 11.58 - LU1057294727 - -
A3 USD Monthly 9.51 0.03 0.32 10.45 9.43 - LU0200680782 - -
A2 Hgd GBP Accumulating 11.65 0.04 0.34 12.55 11.56 - LU1057296771 - -
A8 Hgd AUD Monthly 7.71 0.03 0.39 8.53 7.64 - LU0871639893 - -
A2 EUR Accumulating 16.76 0.04 0.24 17.48 16.20 - LU0200683885 - -
Class AI5 Hedged EUR Quarterly 8.95 0.02 0.22 9.95 8.89 - LU1960220074 - -
A4 EUR Annual 11.57 0.03 0.26 12.27 11.46 - LU1072326561 - -
A2 Hgd EUR Accumulating 16.24 0.05 0.31 17.57 16.12 - LU0413376566 - -
E2 Hgd EUR Accumulating 10.49 0.04 0.38 11.38 10.41 - LU1062842882 - -
Class E5 Hedged EUR Quarterly 8.37 0.03 0.36 9.29 8.30 - LU1062842965 - -
Class X5 Hedged CHF Quarterly 9.32 0.03 0.32 10.39 9.25 - LU1904800973 - -
A3 EUR Monthly 8.38 0.02 0.24 8.80 8.30 - LU0200684008 - -
D2 Hgd EUR Accumulating 17.15 0.05 0.29 18.49 17.02 - LU0827877399 - -
E2 USD Accumulating 17.49 0.05 0.29 18.87 17.36 - LU0200681830 - -
A1 EUR Monthly 8.09 0.02 0.25 8.51 8.02 - LU0200683703 - -
E2 EUR Accumulating 15.41 0.04 0.26 16.08 14.96 - LU0200684180 - -
A6 Hgd HKD Monthly 59.35 0.19 0.32 65.93 58.88 - LU0764619960 - -
I2 Hgd CHF Accumulating 9.74 0.03 0.31 10.50 9.66 - LU1618350562 - -
C1 USD Monthly 9.19 0.03 0.33 10.10 9.12 - LU0200681327 - -
A1 USD Monthly 9.19 0.03 0.33 10.10 9.12 - LU0200680436 - -
D2 USD Accumulating 20.74 0.07 0.34 22.27 20.58 - LU0297941386 - -
Class I5 Hedged EUR Quarterly 8.59 0.03 0.35 9.55 8.53 - LU1323999216 - -
I4 Hgd EUR Annual 9.34 0.03 0.32 10.46 9.27 - LU2075911060 - -
A8 Hgd ZAR Monthly 86.89 0.28 0.32 95.62 86.14 - LU1109561420 - -
D2 EUR Accumulating 18.28 0.05 0.27 19.03 17.57 - LU0827877043 - -
A6 USD Monthly 7.98 0.03 0.38 8.85 7.92 - LU0764617162 - -
A6 Hgd GBP Monthly 8.05 0.03 0.37 8.95 7.99 - LU1408527916 - -
A2 USD Accumulating 19.03 0.07 0.37 20.47 18.88 - LU0200680600 - -
Class AI2 Hedged EUR - 9.85 0.03 0.31 10.65 9.77 - LU1960219902 - -
A2 CZK Accumulating 409.01 3.64 0.90 444.35 405.32 - LU1791181735 - -
C2 USD Accumulating 15.32 0.05 0.33 16.60 15.20 - LU0200681673 - -
A6 Hgd CAD Monthly 8.42 0.03 0.36 9.36 8.35 - LU1408528054 - -
I2 USD Accumulating 18.76 0.06 0.32 20.13 18.61 - LU1180455567 - -
X2 Hgd EUR Accumulating 19.47 0.07 0.36 20.92 19.32 - LU0343170543 - -
A8 Hgd NZD Monthly 8.53 0.02 0.24 9.45 8.47 - LU1408528138 - -
X2 EUR Accumulating 20.28 0.06 0.30 21.09 19.35 - LU0988581723 - -
Class X5 Hedged EUR Quarterly 8.28 0.03 0.36 9.21 8.21 - LU1722865000 - -

Portfolio Managers

Portfolio Managers

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

Michel Aubenas, CFA

Literature

Literature