Equity

BGF World Technology 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. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. The value of equities and equity-related securities can be affected by daily stock market movements, political factors, economic news, company earnings and significant corporate events. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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 (%) 8.13 3.99 5.92 51.99 -0.34 43.48 85.50 8.01 -43.06 49.78
Constraint Benchmark 1 (%) 15.20 3.20 12.20 41.77 -5.81 46.89 45.61 27.36 -31.07 51.02

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

  1Y 3Y 5Y 10y Incept.
49.34 0.30 18.25 16.94 7.57
Constraint Benchmark 1 (%) 50.93 12.85 22.22 18.44 -
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
11.98 7.19 18.08 22.68 49.34 0.90 131.21 378.23 728.34
Constraint Benchmark 1 (%) 9.93 6.53 14.89 20.82 50.93 43.72 172.70 443.14 -
  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

43.48 85.50 8.01 -43.06 49.78
Constraint Benchmark 1 (%)

as of Dec 31, 2023

46.89 45.61 27.36 -31.07 51.02
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 Mar 18, 2024 USD 11,553,767,309
Share Class Inception Date Mar 3, 1995
Fund Inception Date Mar 3, 1995
Share Class Currency USD
Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI ACWI Information Technology 10/40 Index
SFDR Classification Article 8
Initial Charge 5.00%
Ongoing Charge 1.78%
ISIN LU0056508442
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Sector Equity Technology
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MEILU LX
SEDOL 4557223

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Feb 29, 2024 80
Standard Deviation (3y) as of Feb 29, 2024 25.47%
P/E Ratio as of Feb 29, 2024 45.78
P/B Ratio as of Feb 29, 2024 11.03

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 AA
MSCI ESG % Coverage as of Feb 21, 2024 95.79
MSCI ESG Quality Score (0-10) as of Feb 21, 2024 7.32
MSCI ESG Quality Score - Peer Percentile as of Feb 21, 2024 81.08
Fund Lipper Global Classification as of Feb 21, 2024 Equity Sector Information Tech
Funds in Peer Group as of Feb 21, 2024 1,020
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Feb 21, 2024 20.50
MSCI Weighted Average Carbon Intensity % Coverage as of Feb 21, 2024 95.83
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 Feb 29, 2024 0.00%
MSCI - UN Global Compact Violators as of Feb 29, 2024 0.00%
MSCI - Nuclear Weapons as of Feb 29, 2024 0.00%
MSCI - Thermal Coal as of Feb 29, 2024 0.00%
MSCI - Civilian Firearms as of Feb 29, 2024 0.00%
MSCI - Oil Sands as of Feb 29, 2024 0.00%
MSCI - Tobacco as of Feb 29, 2024 0.00%

Business Involvement Coverage as of Feb 29, 2024 96.86%
Percentage of Fund not covered as of Feb 29, 2024 3.14%
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 0.00% and for Oil Sands 0.00%.

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

4 stars
Overall Morningstar Rating for BGF World Technology Fund, Class A2, as of Feb 29, 2024 rated against 1025 Sector Equity Technology Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Jun 14, 2023)

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Feb 29, 2024
Name Weight (%)
NVIDIA CORP 9.91
MICROSOFT CORP 9.31
APPLE INC 7.07
BROADCOM INC 3.45
CADENCE DESIGN SYSTEMS INC 3.42
Name Weight (%)
META PLATFORMS INC CLASS A 3.06
ADVANCED MICRO DEVICES INC 3.04
ASML HOLDING NV 2.97
AMAZON COM INC 2.49
MASTERCARD INC CLASS A 2.16
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 29, 2024

% of Market Value

Type Fund
as of Feb 29, 2024

% of Market Value

Type Fund
as of Feb 29, 2024

% of Market Value

Type Fund
as of Feb 29, 2024

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A2 USD 80.93 0.53 0.66 Mar 18, 2024 83.72 54.63 LU0056508442
A2 Hgd JPY 2,046.00 13.00 0.64 Mar 18, 2024 2,119.00 1,446.00 LU1948809444
X2 USD 32.02 0.21 0.66 Mar 18, 2024 33.11 21.25 LU1733225426
Class I4 USD 9.84 0.06 0.61 Mar 18, 2024 10.18 6.58 LU2360108307
I2 EUR 30.83 0.21 0.69 Mar 18, 2024 31.68 20.39 LU1722863211
Class X10 USD 13.12 0.09 0.69 Mar 18, 2024 13.57 9.34 LU2471419106
I2 Hgd USD 14.18 0.00 0.00 Mar 18, 2024 14.80 8.65 LU2310090274
E2 EUR 66.96 0.45 0.68 Mar 18, 2024 68.83 44.88 LU0171310955
A2 GBP 63.60 0.51 0.81 Mar 18, 2024 65.01 43.69 LU0171311680
I2 JPY 5,010.00 43.00 0.87 Mar 18, 2024 5,132.00 2,951.00 LU2263536232
C2 USD 60.96 0.38 0.63 Mar 18, 2024 63.09 41.61 LU0147408131
D2 EUR 83.21 0.56 0.68 Mar 18, 2024 85.51 55.16 LU0376438312
A4 EUR 10.54 0.07 0.67 Mar 18, 2024 10.84 7.04 LU2357541692
E2 Hgd EUR 9.51 0.06 0.63 Mar 18, 2024 9.84 6.56 LU2298322475
Class I5 Hedged GBP 10.59 0.07 0.67 Mar 18, 2024 10.95 7.13 LU2267099328
Class A10 USD 14.59 0.10 0.69 Mar 18, 2024 15.09 10.55 LU2533723974
D2 USD 90.58 0.59 0.66 Mar 18, 2024 93.69 60.73 LU0724618946
A2 Hgd EUR 21.01 0.13 0.62 Mar 18, 2024 21.74 14.42 LU1822773716
A2 HKD 632.82 3.82 0.61 Mar 18, 2024 654.74 428.67 LU2250418816
I2 USD 33.56 0.22 0.66 Mar 18, 2024 34.71 22.45 LU2134542260
I2 Hgd EUR 22.58 0.14 0.62 Mar 18, 2024 23.35 15.36 LU1728554749
I2 GBP 26.37 0.21 0.80 Mar 18, 2024 26.95 17.96 LU2168066038
A4 USD 11.48 0.08 0.70 Mar 18, 2024 11.87 7.75 LU2360106780
A2 Hgd AUD 11.25 0.08 0.72 Mar 18, 2024 11.63 7.68 LU2250418659
A2 Hgd CNH 117.04 0.77 0.66 Mar 18, 2024 121.16 80.71 LU2250418907
A2 EUR 74.34 0.49 0.66 Mar 18, 2024 76.41 49.61 LU0171310443
A2 Hgd SGD 21.29 0.14 0.66 Mar 18, 2024 22.03 14.58 LU1852331112
D2 GBP 71.18 0.56 0.79 Mar 18, 2024 72.75 48.58 LU0827890491
E2 USD 72.89 0.47 0.65 Mar 18, 2024 75.42 49.42 LU0147408487
D2 Hgd EUR 15.91 0.11 0.70 Mar 18, 2024 16.45 10.84 LU2168656184
Class AI2 EUR 22.59 0.15 0.67 Mar 18, 2024 23.22 15.07 LU1960224811

Portfolio Managers

Portfolio Managers

Tony Kim
Head of Technology Investing, Fundamental Active Equity

Tony Kim

Reid Menge
Reid Menge

Literature

Literature