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BGF Emerging Markets Local Currency Bond Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
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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
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of Dec 31, 2020

17.46 0.84 -7.30 14.67 -6.01
Benchmark (%)

as of Dec 31, 2020

13.23 1.20 -1.48 15.56 -5.79
  1Y 3Y 5Y 10y Incept.
-6.35 -1.32 2.76 - 1.80
Benchmark (%)

as of Feb 28, 2021

-6.16 0.75 3.23 - 2.09
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-2.17 -1.79 -0.29 -6.35 -3.91 14.61 - 13.88
Benchmark (%)

as of Feb 28, 2021

-2.95 -2.59 -1.82 -6.16 2.27 17.20 - 16.28
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 Mar 5, 2021 USD 2,308.805
12m Trailing Yield as of Feb 28, 2021 5.22
Number of Holdings as of Feb 26, 2021 153
Base Currency U.S. Dollar
Fund Inception Date Jun 26, 1997
Share Class Inception Date Nov 20, 2013
Asset Class -
Morningstar Category Global Emerging Markets Bond - Local Currency
Benchmark Index JP Morgan GBI-EM Global Diversified Index - in EUR
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.63%
ISIN LU0995350831
Bloomberg Ticker BGEMLI5
Annual Management Fee 0.50%
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL BGLL702
Bloomberg Benchmark Ticker JGENVUEG
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 10000000
Minimum Subsequent Investment EUR 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Feb 26, 2021 5.30%
Modified Duration as of Feb 26, 2021 4.81 yrs
Effective Duration as of Feb 26, 2021 4.75 yrs
Weighted Avg Maturity as of Feb 26, 2021 7.43 yrs
3y Volatility - Benchmark as of Feb 28, 2021 10.18
3y Beta as of Feb 28, 2021 1.203
5y Volatility - Benchmark as of Feb 28, 2021 9.18
5y Beta as of Feb 28, 2021 1.161
WAL to Worst as of Feb 26, 2021 7.43 yrs

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Feb 5, 2021 BBB
MSCI ESG Quality Score (0-10) as of Feb 5, 2021 4.44
MSCI ESG Quality Score - Peer Percentile as of Feb 5, 2021 59.67
MSCI ESG % Coverage as of Feb 5, 2021 99.40
Fund Lipper Global Classification as of Feb 5, 2021 Bond Emerging Markets Global LC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Feb 5, 2021 366.61
Funds in Peer Group as of Feb 5, 2021 243
All data is from MSCI ESG Fund Ratings as of Feb 5, 2021, based on holdings as of Sep 30, 2020. 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 covered 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
Overall Morningstar Rating for BGF Emerging Markets Local Currency Bond Fund, Class I5, as of Jan 31, 2021 rated against 752 Global Emerging Markets Bond - Local Currency Funds.

Risk Indicator

Risk Indicator

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2
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4
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7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Feb 26, 2021
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 2.74
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 2.26
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 2.12
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 2.10
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.13 11/21/2029 2.04
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2023 1.96
TURKEY (REPUBLIC OF) 11.7 11/13/2030 1.95
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.86
BRAZIL (FEDERATIVE REPUBLIC OF) 0 07/01/2022 1.63
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.47
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% 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
I5 EUR Quarterly 7.67 -0.02 -0.26 8.62 7.07 - LU0995350831 - -
A2 CHF Accumulating 22.58 -0.16 -0.70 23.30 19.35 - LU0938162186 - -
D2 USD Accumulating 25.96 -0.34 -1.29 27.61 20.97 - LU0383940458 - -
A8 Hgd AUD Monthly 6.34 -0.08 -1.25 6.89 5.49 - LU1133072774 - -
C2 USD Accumulating 20.37 -0.26 -1.26 21.72 16.73 - LU0278476923 - -
A1 USD Daily 3.66 -0.04 -1.08 3.92 3.09 - LU0278477574 - -
Class S3 Hedged GBP Monthly 9.62 -0.12 -1.23 10.29 8.21 - LU1911699996 - -
Class I3 Hedged GBP Monthly 6.37 -0.08 -1.24 6.81 5.44 - LU0995336418 - -
A2 Hgd SGD Accumulating 8.38 -0.11 -1.30 8.92 6.83 - LU0358998713 - -
A1 EUR Daily 3.07 -0.01 -0.32 3.43 2.86 - LU0278461065 - -
X2 GBP Accumulating 5.35 -0.01 -0.19 5.79 4.95 - LU1688375267 - -
A2 Hgd EUR Accumulating 7.48 -0.10 -1.32 7.97 6.16 - LU0359002093 - -
I2 GBP - 18.86 -0.02 -0.11 20.45 17.54 - LU1741217027 - -
D2 Hgd CHF Accumulating 8.79 -0.12 -1.35 9.37 7.21 - LU1688375184 - -
D2 CHF Accumulating 24.14 -0.17 -0.70 24.78 20.58 - LU1065150267 - -
I5 USD Quarterly 9.13 -0.12 -1.30 9.74 7.63 - LU1495982867 - -
D3 Hgd GBP Monthly 6.34 -0.09 -1.40 6.79 5.42 - LU0995345831 - -
I2 EUR Accumulating 21.87 -0.05 -0.23 23.32 19.45 - LU1559746307 - -
X2 AUD Accumulating 9.62 0.01 0.10 11.16 9.54 - LU1554267051 - -
X2 Hgd GBP Accumulating 10.09 -0.13 -1.27 10.70 8.17 - LU1505939139 - -
Class AI5 EUR Quarterly 9.18 -0.03 -0.33 10.32 8.47 - LU1960220660 - -
D2 Hgd EUR Accumulating 7.69 -0.10 -1.28 8.18 6.30 - LU0622213642 - -
A2 USD Accumulating 24.29 -0.31 -1.26 25.85 19.72 - LU0278470058 - -
A2 EUR Accumulating 20.39 -0.05 -0.24 21.89 18.26 - LU0278457204 - -
A3 HKD Monthly 28.57 -0.35 -1.21 30.55 24.14 - LU0388349754 - -
Class E5 Hedged EUR Quarterly 6.00 -0.08 -1.32 6.45 5.09 - LU1062843260 - -
D5 GBP Quarterly 7.84 -0.01 -0.13 8.85 7.56 - LU1694209807 - -
A3 USD Monthly 3.68 -0.05 -1.34 3.94 3.11 - LU0278470132 - -
I2 CHF - 24.22 -0.17 -0.70 24.82 20.62 - LU1781817694 - -
A6 Hgd SGD Monthly 7.17 -0.10 -1.38 7.81 6.25 - LU1676225185 - -
A4 EUR Annual 12.49 -0.03 -0.24 14.05 11.71 - LU0478974834 - -
D3 Hgd AUD Monthly 6.01 -0.08 -1.31 6.43 5.13 - LU0827884841 - -
C2 EUR Accumulating 17.10 -0.04 -0.23 18.59 15.49 - LU0278457972 - -
A3 EUR Monthly 3.09 -0.01 -0.32 3.46 2.88 - LU0278457469 - -
D2 EUR Accumulating 21.80 -0.05 -0.23 23.28 19.42 - LU0329592702 - -
D3 EUR Monthly 12.77 -0.04 -0.31 14.29 11.92 - LU0827884924 - -
A4 USD Annual 14.87 -0.20 -1.33 15.83 12.65 - LU0548402170 - -
D3 USD Monthly 15.22 -0.19 -1.23 16.30 12.88 - LU0523291242 - -
A6 USD Monthly 7.93 -0.10 -1.25 8.54 6.87 - LU1408528211 - -
D2 Hgd GBP Accumulating 14.45 -0.19 -1.30 15.36 11.78 - LU0827885491 - -
A2 Hgd SEK Accumulating 88.92 -1.17 -1.30 94.63 73.09 - LU1715605868 - -
D2 Hgd SGD Accumulating 8.76 -0.11 -1.24 9.31 7.10 - LU0827884767 - -
E2 EUR Accumulating 19.01 -0.04 -0.21 20.51 17.09 - LU0278459671 - -
I2 Hgd EUR Accumulating 7.94 -0.11 -1.37 8.45 6.50 - LU0473186707 - -
D2 Hgd PLN Accumulating 10.23 -0.14 -1.35 10.90 8.34 - LU0827884684 - -
D4 EUR Annual 12.53 -0.03 -0.24 14.10 11.76 - LU0827885145 - -
D3 HKD Monthly 118.16 -1.43 -1.20 126.36 99.87 - LU0827885061 - -
C1 USD Daily 3.65 -0.05 -1.35 3.91 3.08 - LU0278478119 - -
E2 USD Accumulating 22.64 -0.29 -1.26 24.12 18.46 - LU0374975414 - -
A6 Hgd GBP Monthly 7.27 -0.09 -1.22 7.99 6.37 - LU1408528302 - -
I2 USD Accumulating 26.05 -0.33 -1.25 27.69 21.01 - LU0520955575 - -
A6 Hgd CAD Monthly 7.75 -0.10 -1.27 8.47 6.78 - LU1408528641 - -
Class X5 Hedged GBP Quarterly 9.30 -0.12 -1.27 10.00 7.83 - LU1954752702 - -
A2 CZK Accumulating 537.68 1.21 0.23 564.52 507.04 - LU1791177113 - -
X2 USD Accumulating 7.39 -0.10 -1.34 7.85 5.93 - LU0344905624 - -
A2 Hgd CHF Accumulating 7.29 -0.10 -1.35 7.78 6.01 - LU0623004180 - -
E2 Hgd EUR Accumulating 7.08 -0.09 -1.26 7.55 5.85 - LU0474536231 - -
A8 Hgd NZD Monthly 7.89 -0.11 -1.38 8.58 6.84 - LU1408528724 - -
A2 Hgd PLN Accumulating 9.81 -0.13 -1.31 10.46 8.04 - LU0480535052 - -
A6 Hgd HKD Monthly 78.81 -1.03 -1.29 85.09 68.40 - LU1408528484 - -
Class AI2 EUR - 9.86 -0.02 -0.20 10.58 8.83 - LU1960220587 - -
A3 Hgd AUD Monthly 6.02 -0.07 -1.15 6.44 5.13 - LU0575500318 - -
D4 USD Annual 14.93 -0.19 -1.26 15.88 12.70 - LU0827885228 - -
X2 EUR Accumulating 6.20 -0.02 -0.32 6.58 5.49 - LU0531082021 - -

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Managing Director, Head of BlackRock's Emerging Markets Fixed Income

Sergio Trigo Paz, Managing Director, is Head of BlackRock's Emerging Markets Fixed Income.

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