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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Reinvestments

This fund does not have any distributions data as of now.
  From
31-Mar-2017
To
31-Mar-2018
From
31-Mar-2018
To
31-Mar-2019
From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
Total Return (%)

as of Mar 31, 2022

6.37 -9.42 -13.44 12.86 -10.28
Benchmark (%)

as of Mar 31, 2022

8.09 -3.88 -9.18 9.95 -10.57
  1Y 3Y 5Y 10y Incept.
-10.20 -5.21 -3.58 - -2.86
Benchmark (%)

as of Apr 30, 2022

-10.54 -4.66 -1.78 - -2.07
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-6.98 -0.84 -8.68 -10.20 -14.83 -16.68 - -22.80
Benchmark (%)

as of Apr 30, 2022

-6.36 -0.88 -8.35 -10.54 -13.34 -8.59 - -17.04
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 May 20, 2022 USD 1,534.022
12m Trailing Yield -
Number of Holdings as of Apr 29, 2022 168
Base Currency U.S. Dollar
Fund Inception Date Jun 26, 1997
Share Class Inception Date May 29, 2013
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Bond - Local Currency
Benchmark Index JP Morgan GBI-EM Global Diversified Index in CHF
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 1.27%
ISIN LU0938162186
Bloomberg Ticker BGELA2C
Annual Management Fee 1.00%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BB2BQ87
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment CHF 5000
Minimum Subsequent Investment -
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Apr 29, 2022 8.34%
Modified Duration as of Apr 29, 2022 3.19 yrs
Effective Duration as of Apr 29, 2022 3.18 yrs
Weighted Avg Maturity as of Apr 29, 2022 6.41 yrs
3y Volatility - Benchmark as of Apr 30, 2022 10.06
3y Beta as of Apr 30, 2022 1.126
5y Volatility - Benchmark as of Apr 30, 2022 9.95
5y Beta as of Apr 30, 2022 1.150
WAL to Worst as of Apr 29, 2022 6.41 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 May 6, 2022 BB
MSCI ESG % Coverage as of May 6, 2022 99.32
MSCI ESG Quality Score (0-10) as of May 6, 2022 3.52
MSCI ESG Quality Score - Peer Percentile as of May 6, 2022 26.52
Fund Lipper Global Classification as of May 6, 2022 Bond Emerging Markets Global LC
Funds in Peer Group as of May 6, 2022 264
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of May 6, 2022 859.33
MSCI Weighted Average Carbon Intensity % Coverage as of May 6, 2022 0.49
All data is from MSCI ESG Fund Ratings as of May 6, 2022, based on holdings as of Dec 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.

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 A2, as of Dec 31, 2017 rated against 602 Global Emerging Markets Bond - Local Currency Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Apr 29, 2022
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2024 3.37
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 3.29
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2023 2.58
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 2.34
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.83
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.02 10/22/2025 1.71
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 1.64
COLOMBIA REPUBLIC OF (GOVERNMENT) 10 07/24/2024 1.63
BRAZIL (FEDERATIVE REPUBLIC OF) 0 07/01/2022 1.62
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 1.44
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Apr 29, 2022

% of Market Value

Type Fund Benchmark Net
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of Apr 29, 2022

% of Market Value

Type Fund Benchmark Net
as of Apr 29, 2022

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Apr 29, 2022

% of Market Value

Type Fund Benchmark Net
as of Apr 29, 2022

% of Market Value

Type Fund Benchmark Net
as of Apr 29, 2022

% 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
A2 CHF Accumulating 20.12 0.26 1.31 22.87 19.53 - LU0938162186 - -
X2 GBP Accumulating 5.10 0.05 0.99 5.51 4.93 - LU1688375267 - -
D2 USD Accumulating 22.21 0.23 1.05 27.25 21.52 - LU0383940458 - -
Class I3 Hedged GBP Monthly 5.08 0.05 0.99 6.60 4.93 - LU0995336418 - -
C2 USD Accumulating 17.05 0.17 1.01 21.28 16.54 - LU0278476923 - -
D2 CHF Accumulating 21.63 0.27 1.26 24.48 20.98 - LU1065150267 - -
D2 Hgd CHF Accumulating 7.38 0.07 0.96 9.19 7.16 - LU1688375184 - -
I5 USD Quarterly 7.33 0.07 0.96 9.48 7.11 - LU1495982867 - -
A2 Hgd SGD Accumulating 7.10 0.08 1.14 8.78 6.88 - LU0358998713 - -
I5 EUR Quarterly 6.94 0.07 1.02 7.80 6.75 - LU0995350831 - -
A1 USD Monthly 2.94 0.03 1.03 3.79 2.86 - LU0278477574 - -
Class S3 Hedged GBP Monthly 7.70 0.08 1.05 9.96 7.46 - LU1911699996 - -
I2 GBP - 17.87 0.19 1.07 19.39 17.31 - LU1741217027 - -
D2 Hgd EUR Accumulating 6.45 0.07 1.10 8.05 6.25 - LU0622213642 - -
A2 USD Accumulating 20.65 0.21 1.03 25.46 20.01 - LU0278470058 - -
A4 USD Annual 12.12 0.13 1.08 15.59 11.74 - LU0548402170 - -
D3 Hgd GBP Monthly 5.08 0.05 0.99 6.57 4.92 - LU0995345831 - -
A2 Hgd SEK Accumulating 74.18 0.75 1.02 92.99 71.90 - LU1715605868 - -
A3 HKD Monthly 23.29 0.24 1.04 29.62 22.58 - LU0388349754 - -
A3 USD Monthly 2.97 0.03 1.02 3.82 2.88 - LU0278470132 - -
Class E5 Hedged EUR Quarterly 4.72 0.05 1.07 6.20 4.58 - LU1062843260 - -
A6 Hgd SGD Monthly 5.65 0.06 1.07 7.41 5.47 - LU1676225185 - -
A2 EUR Accumulating 19.55 0.20 1.03 21.15 19.02 - LU0278457204 - -
D3 EUR Monthly 11.62 0.12 1.04 12.99 11.30 - LU0827884924 - -
A6 USD Monthly 6.27 0.06 0.97 8.19 6.08 - LU1408528211 - -
D2 EUR Accumulating 21.02 0.21 1.01 22.72 20.45 - LU0329592702 - -
C1 USD Monthly 2.94 0.03 1.03 3.79 2.85 - LU0278478119 - -
C2 EUR Accumulating 16.15 0.16 1.00 17.53 15.71 - LU0278457972 - -
D4 EUR Annual 11.52 0.11 0.96 12.89 11.21 - LU0827885145 - -
I2 Hgd EUR Accumulating 6.67 0.06 0.91 8.32 6.47 - LU0473186707 - -
I2 USD Accumulating 22.32 0.23 1.04 27.35 21.63 - LU0520955575 - -
D2 Hgd SGD Accumulating 7.46 0.08 1.08 9.19 7.23 - LU0827884767 - -
A4 EUR Annual 11.47 0.11 0.97 12.83 11.16 - LU0478974834 - -
E2 USD Accumulating 19.13 0.20 1.06 23.70 18.54 - LU0374975414 - -
A3 EUR Monthly 2.81 0.03 1.08 3.14 2.73 - LU0278457469 - -
A1 EUR Monthly 2.79 0.03 1.09 3.12 2.71 - LU0278461065 - -
I2 CHF - 21.74 0.27 1.26 24.58 21.08 - LU1781817694 - -
A2 Hgd EUR Accumulating 6.23 0.06 0.97 7.82 6.04 - LU0359002093 - -
Class AI5 EUR Quarterly 8.32 0.08 0.97 9.34 8.09 - LU1960220660 - -
X2 AUD Accumulating 9.02 0.08 0.89 10.36 8.80 - LU1554267051 - -
I2 EUR Accumulating 21.13 0.21 1.00 22.83 20.55 - LU1559746307 - -
X2 Hgd GBP Accumulating 8.63 0.09 1.05 10.59 8.36 - LU1505939139 - -
A8 Hgd AUD Monthly 5.03 0.06 1.21 6.56 4.87 - LU1133072774 - -
D2 Hgd GBP Accumulating 12.27 0.12 0.99 15.15 11.89 - LU0827885491 - -
D3 USD Monthly 12.27 0.12 0.99 15.79 11.90 - LU0523291242 - -
D3 Hgd AUD Monthly 4.81 0.05 1.05 6.23 4.66 - LU0827884841 - -
D5 GBP Quarterly 6.96 0.07 1.02 7.95 6.83 - LU1694209807 - -
D2 Hgd PLN Accumulating 8.72 0.09 1.04 10.71 8.44 - LU0827884684 - -
A6 Hgd GBP Monthly 5.70 0.06 1.06 7.50 5.53 - LU1408528302 - -
A3 Hgd AUD Monthly 4.81 0.05 1.05 6.23 4.66 - LU0575500318 - -
E2 EUR Accumulating 18.11 0.18 1.00 19.62 17.62 - LU0278459671 - -
D3 HKD Monthly 96.32 0.98 1.03 122.49 93.38 - LU0827885061 - -
X2 USD Accumulating 6.37 0.06 0.95 7.77 6.17 - LU0344905624 - -
A2 Hgd PLN Accumulating 8.31 0.08 0.97 10.26 8.05 - LU0480535052 - -
E2 Hgd EUR Accumulating 5.86 0.06 1.03 7.39 5.68 - LU0474536231 - -
X2 EUR Accumulating 6.03 0.06 1.01 6.51 5.86 - LU0531082021 - -
A2 Hgd CHF Accumulating 6.09 0.06 1.00 7.62 5.91 - LU0623004180 - -
A6 Hgd HKD Monthly 62.10 0.63 1.02 81.37 60.19 - LU1408528484 - -
D4 USD Annual 12.17 0.12 1.00 15.67 11.80 - LU0827885228 - -
A6 Hgd CAD Monthly 6.11 0.06 0.99 8.00 5.92 - LU1408528641 - -
Class X5 Hedged GBP Quarterly 7.41 0.08 1.09 9.64 7.18 - LU1954752702 - -
A8 Hgd NZD Monthly 6.30 0.06 0.96 8.17 6.10 - LU1408528724 - -
A2 CZK Accumulating 481.84 3.98 0.83 534.05 473.58 - LU1791177113 - -
Class AI2 EUR - 9.45 0.09 0.96 10.23 9.20 - LU1960220587 - -

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
Amer Bisat
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