Equity

BGF Latin American 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.

Loading

Performance

Performance

Growth of Hypothetical 10,000

View full chart

Reinvestments

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

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -9.88 -31.04 24.38 24.89 -4.05 16.27 -18.29 -15.95 6.71 35.67
Constraint Benchmark 1 (%) -12.30 -31.04 31.04 23.74 -6.57 17.46 -13.80 -8.09 9.04 34.05

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

  1Y 3Y 5Y 10y Incept.
17.45 3.64 -0.43 -0.76 7.71
Constraint Benchmark 1 (%) 15.30 8.11 3.01 1.12 9.42
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-10.35 -4.23 -4.56 11.41 17.45 11.31 -2.13 -7.30 405.70
Constraint Benchmark 1 (%) -7.65 -3.92 -2.81 14.22 15.30 26.36 15.98 11.74 614.30
  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of Mar 31, 2024

-41.15 41.62 12.87 -12.75 25.08
Constraint Benchmark 1 (%)

as of Mar 31, 2024

-40.77 50.08 23.54 -10.68 23.58
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 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 May 24, 2024
USD 695,569,703
Fund Inception Date
Jan 8, 1997
Base Currency
USD
Constraint Benchmark 1
MSCI Emerging Markets Latin America 10/40 Index
Initial Charge
3.00%
ISIN
LU0147409709
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
MLATAEE
Share Class Inception Date
Jul 1, 2002
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Other
Ongoing Charge
2.57%
Annual Management Fee
2.25%
Minimum Initial Investment
USD 5000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Latin America Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
7358434

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Apr 30, 2024
39
3y Beta
as of Apr 30, 2024
0.956
P/B Ratio
as of Apr 30, 2024
1.59
Standard Deviation (3y)
as of Apr 30, 2024
25.37%
P/E Ratio
as of Apr 30, 2024
10.28

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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 Apr 30, 2024
0.00%
MSCI - Nuclear Weapons
as of Apr 30, 2024
0.00%
MSCI - Civilian Firearms
as of Apr 30, 2024
0.00%
MSCI - Tobacco
as of Apr 30, 2024
0.00%
MSCI - UN Global Compact Violators
as of Apr 30, 2024
9.62%
MSCI - Thermal Coal
as of Apr 30, 2024
0.00%
MSCI - Oil Sands
as of Apr 30, 2024
0.00%

Business Involvement Coverage
as of Apr 30, 2024
100.03%
Percentage of Fund not covered
as of Apr 30, 2024
0.00%
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 9.62% and for Oil Sands 1.51%.

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 Latin American Fund, Class E2, as of Apr 30, 2024 rated against 197 Latin America Equity Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Apr 30, 2024
Name Weight (%)
VALE SA 9.54
WAL MART DE MEXICO SAB DE CV 7.30
BANCO BRADESCO SA 6.61
PETROLEO BRASILEIRO SA PETROBRAS 6.43
GRUPO AEROPORTUARIO DEL PACIFICO SAB DE CV 5.20
Name Weight (%)
B3 SA BRASIL BOLSA BALCAO 4.46
AMBEV SA 4.31
ITAU UNIBANCO HOLDING SA 3.94
SOCIEDAD QUIMICA Y MINERA DE CHILE SA 3.62
LOJAS RENNER SA 3.56
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Apr 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Apr 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Apr 30, 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
E2 USD 63.51 -0.63 -0.98 May 24, 2024 71.74 55.94 LU0147409709
D4 GBP 45.91 -0.48 -1.03 May 24, 2024 51.40 42.00 LU0827884098
A2 Hgd PLN 8.75 -0.08 -0.91 May 24, 2024 9.87 7.73 LU0480534832
C2 USD 50.97 -0.51 -0.99 May 24, 2024 57.75 45.11 LU0147409378
A2 EUR 65.31 -0.70 -1.06 May 24, 2024 71.91 59.16 LU0171289498
A2 GBP 55.66 -0.59 -1.05 May 24, 2024 62.51 51.17 LU0171289738
A2 USD 70.83 -0.70 -0.98 May 24, 2024 79.85 62.19 LU0072463663
D4 EUR 54.75 -0.58 -1.05 May 24, 2024 60.38 49.36 LU0827883959
D2 GBP 63.48 -0.67 -1.04 May 24, 2024 71.07 58.08 LU0827883876
D2 Hgd EUR 50.23 -0.50 -0.99 May 24, 2024 56.85 44.53 LU0827884254
D2 Hgd GBP 43.87 -0.43 -0.97 May 24, 2024 49.36 38.52 LU0827884411
D2 USD 80.78 -0.80 -0.98 May 24, 2024 90.78 70.58 LU0252970081
A2 Hgd CHF 5.63 -0.05 -0.88 May 24, 2024 6.45 5.08 LU0521028802
A4 EUR 54.56 -0.58 -1.05 May 24, 2024 60.13 49.42 LU0408221785
X2 USD 94.84 -0.94 -0.98 May 24, 2024 106.05 82.22 LU0462856542
A4 GBP 45.77 -0.48 -1.04 May 24, 2024 51.40 42.08 LU0204063647
A2 Hgd SGD 6.34 -0.07 -1.09 May 24, 2024 7.21 5.64 LU0572108347
X4 GBP 45.76 -0.48 -1.04 May 24, 2024 50.96 41.52 LU0462858670
D2 Hgd PLN 9.55 -0.09 -0.93 May 24, 2024 10.74 8.40 LU0827884338
I2 EUR 11.41 -0.12 -1.04 May 24, 2024 12.51 10.27 LU0368234455
D2 Hgd CHF 6.13 -0.06 -0.97 May 24, 2024 7.00 5.51 LU0827884171
J2 USD 101.56 -1.00 -0.98 May 24, 2024 113.56 88.04 LU0245446215
A2 Hgd AUD 9.56 -0.09 -0.93 May 24, 2024 10.86 8.52 LU1023057877
E2 EUR 58.56 -0.63 -1.06 May 24, 2024 64.61 53.21 LU0171289571
D2 Hgd SGD 6.92 -0.07 -1.00 May 24, 2024 7.84 6.13 LU0827884502
I2 USD 12.38 -0.12 -0.96 May 24, 2024 13.89 10.80 LU1847653067
D2 Hgd SGD - - - - - - -
C2 EUR 47.00 -0.50 -1.05 May 24, 2024 52.01 42.91 LU0331286228
E2 GBP 49.91 -0.53 -1.05 May 24, 2024 56.16 46.03 LU0171289811
A2 Hgd HKD 9.20 -0.09 -0.97 May 24, 2024 10.42 8.13 LU0788109048
D2 EUR 74.48 -0.80 -1.06 May 24, 2024 81.76 67.15 LU0252965164

Portfolio Managers

Portfolio Managers

Samuel Vecht, CFA
Head of Emerging Europe & Frontier Markets

Samuel Vecht

Christoph Brinkmann
Christoph Brinkmann

Literature

Literature