Equity

BGF Emerging Europe 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.

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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Distributions

Ex-Date Total Distribution
View full table

  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) -1.56 -19.19 -4.67 46.15 13.15 -10.35 27.55 -6.95 15.71
Constraint Benchmark 1 (%) -6.14 -25.14 -9.76 49.94 9.92 -5.69 25.10 -14.58 14.18

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

  1Y 3Y 5Y 10y Incept.
- - - - -
Constraint Benchmark 1 (%) - - - - -
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
- 0.00 0.00 - - - - - -
Constraint Benchmark 1 (%) -65.26 12.77 18.09 11.73 - - - - -
  From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
Total Return (%)

as of Sep 30, 2022

-2.61 16.57 -23.09 57.55 -
Constraint Benchmark 1 (%)

as of Sep 30, 2022

1.62 15.69 -22.58 42.42 -
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 GBP, hedged share class benchmark performance is displayed in EUR.

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 Feb 28, 2022 EUR 269,331,470
Share Class Inception Date Sep 13, 2012
Fund Inception Date Dec 29, 1995
Share Class Currency GBP
Base Currency EUR
Asset Class Equity
Constraint Benchmark 1 MSCI EM Europe 10/40 (net) in GBP Performance Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 0.57%
ISIN LU0827876664
Annual Management Fee 1.00%
Performance Fee 0.00%
Minimum Initial Investment GBP 100000
Minimum Subsequent Investment GBP 1000
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGED4RF
SEDOL B7Z25Q0

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Apr 30, 2024 53
12m Trailing Yield as of Jul 31, 2022 5.31%
Standard Deviation (3y) as of - -
3y Beta as of - -
P/E Ratio as of Apr 30, 2024 7.52
P/B Ratio as of Apr 30, 2024 1.45

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 May 19, 2024 A
MSCI ESG % Coverage as of May 19, 2024 94.54
MSCI ESG Quality Score (0-10) as of May 19, 2024 5.91
MSCI ESG Quality Score - Peer Percentile as of May 19, 2024 55.56
Fund Lipper Global Classification as of May 19, 2024 Equity Emerging Mkts Europe
Funds in Peer Group as of May 19, 2024 36
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of May 19, 2024 201.95
MSCI Weighted Average Carbon Intensity % Coverage as of May 19, 2024 90.57
All data is from MSCI ESG Fund Ratings as of May 19, 2024, based on holdings as of Dec 31, 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 Apr 30, 2024 0.00%
MSCI - UN Global Compact Violators as of Apr 30, 2024 0.00%
MSCI - Nuclear Weapons as of Apr 30, 2024 0.00%
MSCI - Thermal Coal as of Apr 30, 2024 0.00%
MSCI - Civilian Firearms as of Apr 30, 2024 0.00%
MSCI - Oil Sands as of Apr 30, 2024 0.00%
MSCI - Tobacco as of Apr 30, 2024 0.00%

Business Involvement Coverage as of Apr 30, 2024 99.10%
Percentage of Fund not covered as of Apr 30, 2024 0.90%
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 4.50% 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 Emerging Europe Fund, Class D4, as of Feb 28, 2022 rated against 35 Other Equity 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 Feb 1, 2019)

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 (%)
BANK PEKAO SA 8.28
OTP BANK 5.77
PZU SA 5.04
ALLEGRO SA 4.70
YAPI VE KREDI BANKASI A 4.47
Name Weight (%)
ORLEN SA 4.09
POWSZECHNA KASA OSZCZEDNOSCI BANK 4.05
AKBANK A 3.89
BIM BIRLESIK MAGAZALAR A 3.78
WIZZ AIR HOLDINGS PLC 3.21
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
D4 GBP 40.02 -24.35 -37.83 Feb 28, 2022 113.45 40.02 LU0827876664
C2 EUR 39.99 -24.11 -37.61 Feb 28, 2022 113.53 39.99 LU0147383045
A4 GBP 39.98 -24.33 -37.83 Feb 28, 2022 113.64 39.98 LU0204061609
D2 Hgd GBP 46.94 -27.72 -37.13 Feb 28, 2022 130.21 46.94 LU0827876748
X2 EUR 6.65 -4.01 -37.62 Feb 28, 2022 18.68 6.65 LU0147383631
A2 Hgd SGD 5.23 -3.11 -37.29 Feb 28, 2022 14.62 5.23 LU0572106309
E2 USD 53.58 -32.37 -37.66 Feb 28, 2022 156.93 53.58 LU0171274896
X4 GBP 40.21 -24.44 -37.80 Feb 28, 2022 113.46 40.21 LU0513876275
D2 EUR 60.88 -36.68 -37.60 Feb 28, 2022 171.62 60.88 LU0252967533
I2 EUR 5.22 -3.14 -37.56 Feb 28, 2022 14.69 5.22 LU0368229539
D2 USD 68.33 -41.27 -37.66 Feb 28, 2022 199.26 68.33 LU0827876581
A2 EUR 53.60 -32.29 -37.59 Feb 28, 2022 151.48 53.60 LU0011850392
A4 EUR 47.63 -28.69 -37.59 Feb 28, 2022 134.61 47.63 LU0408221355
A2 USD 60.16 -36.33 -37.65 Feb 28, 2022 175.88 60.16 LU0171273575
C2 USD 44.89 -27.12 -37.66 Feb 28, 2022 131.81 44.89 LU0338174369
E2 EUR 47.74 -28.77 -37.60 Feb 28, 2022 135.16 47.74 LU0090830497

Portfolio Managers

Portfolio Managers

Samuel Vecht, CFA
Head of Emerging Europe & Frontier Markets

Samuel Vecht

Christopher Colunga
Christopher Colunga

Literature

Literature