Fixed Income

BGF Emerging Markets Local Currency 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-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
From
30-Jun-2021
To
30-Jun-2022
Total Return (%)

as of Jun 30, 2022

-8.92 7.36 -4.22 2.77 -7.32
  1Y 3Y 5Y 10y Incept.
-1.64 -1.18 -0.81 0.07 0.97
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-0.58 2.28 4.67 -1.64 -3.51 -3.98 0.71 13.01
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 Sep 26, 2022 USD 1,328.931
12m Trailing Yield as of Aug 31, 2022 5.30
Number of Holdings as of Aug 31, 2022 178
Base Currency U.S. Dollar
Fund Inception Date Jun 26, 1997
Share Class Inception Date Jan 18, 2010
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Bond - Local Currency
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 1.27%
ISIN LU0478974834
Bloomberg Ticker BGFLA4U
Annual Management Fee 1.00%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B5N31N0
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment -
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Aug 31, 2022 9.43%
Modified Duration as of Aug 31, 2022 4.87 yrs
Effective Duration as of Aug 31, 2022 4.90 yrs
Weighted Avg Maturity as of Aug 31, 2022 6.71 yrs
WAL to Worst as of Aug 31, 2022 6.71 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 Sep 21, 2022 BBB
MSCI ESG % Coverage as of Sep 21, 2022 99.52
MSCI ESG Quality Score (0-10) as of Sep 21, 2022 4.42
MSCI ESG Quality Score - Peer Percentile as of Sep 21, 2022 43.70
Fund Lipper Global Classification as of Sep 21, 2022 Bond Emerging Markets Global LC
Funds in Peer Group as of Sep 21, 2022 254
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 21, 2022 1,222.31
MSCI Weighted Average Carbon Intensity % Coverage as of Sep 21, 2022 0.59
All data is from MSCI ESG Fund Ratings as of Sep 21, 2022, based on holdings as of May 31, 2022. 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.

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 Local Currency Bond Fund, Class A4, as of Feb 28, 2019 rated against 654 Global Emerging Markets Bond - Local Currency Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Aug 31, 2022
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2024 3.48
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2023 2.56
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 2.01
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.96
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 1.95
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 1.75
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 1.69
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.66
COLOMBIA REPUBLIC OF (GOVERNMENT) 10 07/24/2024 1.41
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.02 10/22/2025 1.29
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Aug 31, 2022

% of Market Value

Type Fund
as of Aug 31, 2022

% of Market Value

Type Fund
as of Aug 31, 2022

% of Market Value

Type Fund
Allocations subject to change.
as of Aug 31, 2022

% of Market Value

Type Fund
as of Aug 31, 2022

% of Market Value

Type Fund
as of Aug 31, 2022

% of Market Value

Type Fund
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 Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
A4 EUR Annual 11.35 -0.14 -1.22 12.41 11.16 - LU0478974834 - -
D3 Hgd GBP Monthly 4.73 -0.10 -2.07 6.15 4.73 - LU0995345831 - -
Class I3 Hedged GBP Monthly 4.72 -0.09 -1.87 6.18 4.72 - LU0995336418 - -
D2 USD Accumulating 21.22 -0.40 -1.85 25.89 21.03 - LU0383940458 - -
A2 CHF Accumulating 19.43 -0.17 -0.87 22.41 19.14 - LU0938162186 - -
C2 USD Accumulating 16.20 -0.30 -1.82 20.11 16.11 - LU0278476923 - -
A1 USD Monthly 2.76 -0.05 -1.78 3.55 2.76 - LU0278477574 - -
I2 EUR Accumulating 22.06 -0.28 -1.25 22.83 20.55 - LU1559746307 - -
D2 Hgd CHF Accumulating 6.97 -0.14 -1.97 8.70 6.96 - LU1688375184 - -
X2 GBP Accumulating 5.62 -0.03 -0.53 5.65 4.93 - LU1688375267 - -
A2 Hgd SGD Accumulating 6.75 -0.13 -1.89 8.32 6.71 - LU0358998713 - -
A2 Hgd EUR Accumulating 5.88 -0.11 -1.84 7.38 5.87 - LU0359002093 - -
Class S3 Hedged GBP Monthly 7.17 -0.14 -1.92 9.33 7.17 - LU1911699996 - -
D2 CHF Accumulating 20.93 -0.18 -0.85 24.02 20.60 - LU1065150267 - -
X2 Hgd GBP Accumulating 8.21 -0.16 -1.91 10.07 8.16 - LU1505939139 - -
I5 USD Quarterly 6.82 -0.12 -1.73 8.78 6.82 - LU1495982867 - -
I5 EUR Quarterly 7.05 -0.09 -1.26 7.61 6.71 - LU0995350831 - -
A8 Hgd AUD Monthly 4.65 -0.09 -1.90 6.14 4.65 - LU1133072774 - -
Class AI5 EUR Quarterly 8.45 -0.11 -1.29 9.11 8.05 - LU1960220660 - -
A1 EUR Monthly 2.85 -0.04 -1.38 3.05 2.71 - LU0278461065 - -
X2 AUD Accumulating 9.36 -0.11 -1.16 10.35 8.80 - LU1554267051 - -
I2 GBP - 19.65 -0.10 -0.51 19.75 17.31 - LU1741217027 - -
D2 Hgd EUR Accumulating 6.09 -0.12 -1.93 7.62 6.08 - LU0622213642 - -
I2 CHF - 21.05 -0.18 -0.85 24.12 20.71 - LU1781817694 - -
A3 HKD Monthly 21.85 -0.41 -1.84 27.84 21.85 - LU0388349754 - -
A3 EUR Monthly 2.88 -0.03 -1.03 3.07 2.73 - LU0278457469 - -
A2 USD Accumulating 19.70 -0.37 -1.84 24.15 19.54 - LU0278470058 - -
A2 EUR Accumulating 20.36 -0.26 -1.26 21.15 19.02 - LU0278457204 - -
A2 Hgd SEK Accumulating 69.89 -1.32 -1.85 87.93 69.89 - LU1715605868 - -
A4 USD Annual 10.98 -0.20 -1.79 14.17 10.98 - LU0548402170 - -
A3 USD Monthly 2.78 -0.06 -2.11 3.58 2.78 - LU0278470132 - -
A6 Hgd SGD Monthly 5.24 -0.10 -1.87 6.92 5.24 - LU1676225185 - -
D5 GBP Quarterly 7.45 -0.03 -0.40 7.69 6.83 - LU1694209807 - -
A6 USD Monthly 5.84 -0.11 -1.85 7.65 5.84 - LU1408528211 - -
Class E5 Hedged EUR Quarterly 4.35 -0.08 -1.81 5.74 4.35 - LU1062843260 - -
D3 EUR Monthly 11.90 -0.15 -1.24 12.71 11.30 - LU0827884924 - -
D3 USD Monthly 11.52 -0.21 -1.79 14.80 11.52 - LU0523291242 - -
D3 Hgd AUD Monthly 4.48 -0.09 -1.97 5.83 4.48 - LU0827884841 - -
D2 EUR Accumulating 21.94 -0.28 -1.26 22.72 20.45 - LU0329592702 - -
D2 Hgd GBP Accumulating 11.65 -0.23 -1.94 14.37 11.60 - LU0827885491 - -
C1 USD Monthly 2.76 -0.05 -1.78 3.54 2.76 - LU0278478119 - -
C2 EUR Accumulating 16.74 -0.22 -1.30 17.53 15.71 - LU0278457972 - -
D4 EUR Annual 11.36 -0.14 -1.22 12.45 11.21 - LU0827885145 - -
I2 Hgd EUR Accumulating 6.31 -0.12 -1.87 7.87 6.29 - LU0473186707 - -
D2 Hgd SGD Accumulating 7.10 -0.14 -1.93 8.72 7.06 - LU0827884767 - -
I2 USD Accumulating 21.34 -0.40 -1.84 26.00 21.14 - LU0520955575 - -
D2 Hgd PLN Accumulating 8.42 -0.16 -1.86 10.15 8.29 - LU0827884684 - -
E2 USD Accumulating 18.22 -0.34 -1.83 22.44 18.08 - LU0374975414 - -
A6 Hgd GBP Monthly 5.27 -0.10 -1.86 7.00 5.27 - LU1408528302 - -
D3 HKD Monthly 90.40 -1.69 -1.84 115.19 90.40 - LU0827885061 - -
A2 Hgd PLN Accumulating 8.01 -0.15 -1.84 9.70 7.90 - LU0480535052 - -
A3 Hgd AUD Monthly 4.48 -0.09 -1.97 5.83 4.48 - LU0575500318 - -
X2 USD Accumulating 6.10 -0.12 -1.93 7.40 6.04 - LU0344905624 - -
E2 EUR Accumulating 18.83 -0.24 -1.26 19.62 17.62 - LU0278459671 - -
D4 USD Annual 10.99 -0.20 -1.79 14.19 10.99 - LU0827885228 - -
A2 Hgd CHF Accumulating 5.74 -0.11 -1.88 7.19 5.74 - LU0623004180 - -
X2 EUR Accumulating 6.31 -0.08 -1.25 6.51 5.86 - LU0531082021 - -
E2 Hgd EUR Accumulating 5.52 -0.11 -1.95 6.97 5.52 - LU0474536231 - -
A6 Hgd HKD Monthly 57.54 -1.08 -1.84 76.01 57.54 - LU1408528484 - -
A6 Hgd CAD Monthly 5.67 -0.11 -1.90 7.47 5.67 - LU1408528641 - -
Class X5 Hedged GBP Quarterly 6.83 -0.13 -1.87 8.91 6.83 - LU1954752702 - -
Class AI2 EUR - 9.85 -0.12 -1.20 10.23 9.20 - LU1960220587 - -
A8 Hgd NZD Monthly 5.84 -0.11 -1.85 7.65 5.84 - LU1408528724 - -
A2 CZK Accumulating 501.53 -5.78 -1.14 530.33 473.17 - LU1791177113 - -

Listings

Portfolio Managers

Portfolio Managers

Laurent Develay
Managing Director, Head of Emerging Markets Local Debt Investments

Laurent Develay, Managing Director, Head of Emerging Markets Local Debt Investments within BlackRock's Global Fixed Income Group.

Amer Bisat
Managing Director, Head of Emerging Markets Fixed Income

Amer Bisat, PhD., Managing Director, is Head of Emerging Markets Fixed Income and a member of the Fundamental-GFI Executive Committee.

Laurent Develay
Managing Director, Head of Emerging Markets Local Debt Investments

Laurent Develay, Managing Director, Head of Emerging Markets Local Debt Investments within BlackRock's Global Fixed Income Group.

Michal Wozniak, CFA
Vice President, Portfolio Manager for Emerging Markets Debt Portfolio Management team

Michal Wozniak, CFA, Director, is a Portfolio Manager for Emerging Markets Debt Portfolio Management team for Blackrock Global Fixed Income Group.

Literature

Literature