Equity

BGF Systematic Global Equity High Income 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.

IMPORTANT: 

•   The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund's income-generating investment strategy may reduce the potential for capital growth and future income of the Fund.
•   The Fund is subject to currency risk, emerging market risk, foreign investments restrictions risk, small-cap companies’ volatility and liquidity risks and currency conversion risk including Renminbi denominated Classes.
•   Class 5(G) Shares pay dividends gross of expenses. Class 6 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Class 8 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion and include interest rate differentials arising from share class currency hedging. Negative interest rate differentials may decrease the dividends paid. Paying dividends gross of expenses may result in more income being available for distribution; however these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
•   The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
•   The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
•   Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.

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
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  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -4.51 4.89 18.45 -9.47 17.27 8.86 17.01 -14.85 15.70

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

  1Y 3Y 5Y 10y Incept.
13.48 5.49 7.26 - 5.53
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
1.86 1.86 12.40 5.79 13.48 17.40 41.95 - 65.11
  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

17.27 8.86 17.01 -14.85 15.70
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 Feb 20, 2024 USD 5,093,148,360
Share Class Inception Date Oct 8, 2014
Fund Inception Date Oct 13, 2006
Share Class Currency USD
Base Currency USD
Asset Class Equity
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 1.81%
ISIN LU1116320737
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment -
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Equity Income
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGGEA6U
SEDOL BR4SXX2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 31, 2024 291
12m Trailing Yield as of Jan 31, 2024 7.87%
Standard Deviation (3y) as of Jan 31, 2024 12.55%
P/E Ratio as of Jan 31, 2024 18.46
P/B Ratio as of Jan 31, 2024 2.94

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 Jan 19, 2024 A
MSCI ESG % Coverage as of Jan 19, 2024 99.16
MSCI ESG Quality Score (0-10) as of Jan 19, 2024 6.75
MSCI ESG Quality Score - Peer Percentile as of Jan 19, 2024 5.31
Fund Lipper Global Classification as of Jan 19, 2024 Equity Global Income
Funds in Peer Group as of Jan 19, 2024 471
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 19, 2024 86.02
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 19, 2024 93.38
All data is from MSCI ESG Fund Ratings as of Jan 19, 2024, based on holdings as of Aug 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 Jan 31, 2024 0.00%
MSCI - UN Global Compact Violators as of Jan 31, 2024 0.08%
MSCI - Nuclear Weapons as of Jan 31, 2024 0.00%
MSCI - Thermal Coal as of Jan 31, 2024 0.10%
MSCI - Civilian Firearms as of Jan 31, 2024 0.00%
MSCI - Oil Sands as of Jan 31, 2024 0.00%
MSCI - Tobacco as of Jan 31, 2024 2.05%

Business Involvement Coverage as of Jan 31, 2024 100.11%
Percentage of Fund not covered as of Jan 31, 2024 0.00%
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 0.25% and for Oil Sands 1.06%.

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 may include ESG considerations in the research and decision phases of the investment process. Funds with ESG-related objectives may also include ESG considerations in the portfolio construction phase of the investment process. The research phase may include relevant, internal ESG research used to assess certain characteristics, including, but not limited to, economic and environmental transition, market structure, superior growth, management quality, and risk characteristics associated with environmental, social, and governance matters. ESG insights may be combined with other internal research views to inform active portfolio weighting versus a reference benchmark (or weighting implemented to achieve an absolute return outcome, if applicable). 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 metrics, and other factors.

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Systematic Global Equity High Income Fund, Class A6, as of Jan 31, 2024 rated against 1081 Global Equity Income 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 Dec 31, 2023)

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Jan 31, 2024
Name Weight (%)
MICROSOFT CORPORATION 4.53
AMAZON.COM INC 3.91
APPLE INC 3.81
NVIDIA CORPORATION 2.74
VISA INC 2.70
Name Weight (%)
NOVO NORDISK A/S 2.43
WALMART INC 2.35
ADOBE INC 2.24
NOVARTIS AG 2.19
MERCK & CO INC 2.14
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jan 31, 2024

% of Market Value

Type Fund
as of Jan 31, 2024

% of Market Value

Type Fund
Sorry, countries/regions are not available at this time.
Sorry, market cap data is not available at this time.
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
A6 USD 8.33 0.00 0.00 Feb 20, 2024 8.33 7.50 LU1116320737
Class SR6 USD 9.91 0.00 0.00 Feb 20, 2024 9.91 8.89 LU2471418397
Class SR2 USD 11.36 0.00 0.00 Feb 20, 2024 11.36 9.48 LU2471418041
Class I5G USD 10.68 0.00 0.00 Feb 20, 2024 10.68 9.48 LU1379101360
Class D6 Hedged SGD 8.71 0.00 0.00 Feb 20, 2024 8.72 7.87 LU2381873202
D6 USD 10.72 0.00 0.00 Feb 20, 2024 10.72 9.60 LU2490080954
A6 Hgd SGD 8.51 0.00 0.00 Feb 20, 2024 8.52 7.70 LU2381873111
I2 EUR 17.19 -0.10 -0.58 Feb 20, 2024 17.29 14.57 LU1791805960
A2 Hgd SGD 14.99 0.00 0.00 Feb 20, 2024 14.99 12.83 LU0326426086
A8 Hgd AUD 7.85 0.00 0.00 Feb 20, 2024 7.85 7.08 LU1116320141
E5G Hgd EUR 7.57 0.00 0.00 Feb 20, 2024 7.57 6.83 LU0278719413
A8 Hgd CAD 7.92 0.01 0.13 Feb 20, 2024 7.92 7.13 LU1116320497
A8 Hgd NZD 7.96 0.00 0.00 Feb 20, 2024 7.96 7.17 LU1116319648
A2 Hgd EUR 10.81 0.01 0.09 Feb 20, 2024 10.81 9.29 LU0278718100
A6 Hgd GBP 7.34 0.00 0.00 Feb 20, 2024 7.35 6.62 LU1116319994
A6 Hgd HKD 78.53 0.01 0.01 Feb 20, 2024 78.64 70.84 LU1116320901
A5G USD 5.05 0.00 0.00 Feb 20, 2024 5.05 4.53 LU0265550946
I3 USD 10.39 0.00 0.00 Feb 20, 2024 10.39 9.28 LU1630945258
D4G USD 9.94 0.00 0.00 Feb 20, 2024 10.02 8.74 LU2448342563
I4G USD 9.99 0.00 0.00 Feb 20, 2024 10.06 8.77 LU2448342217
A2 USD 19.21 0.00 0.00 Feb 20, 2024 19.21 16.16 LU0265550359
A4G USD 9.77 0.00 0.00 Feb 20, 2024 9.90 8.61 LU2448342308
A6 Hgd CHF 10.33 0.00 0.00 Feb 20, 2024 10.36 9.43 LU2655522931
E2 Hgd EUR 9.93 0.00 0.00 Feb 20, 2024 9.93 8.58 LU0278719173
C5G USD 5.04 0.00 0.00 Feb 20, 2024 5.04 4.53 LU0265551753
A5G Hgd EUR 3.33 0.00 0.00 Feb 20, 2024 3.33 3.00 LU0278719090
C2 USD 15.46 0.00 0.00 Feb 20, 2024 15.46 13.16 LU0265551670
D2 USD 21.76 0.00 0.00 Feb 20, 2024 21.76 18.16 LU0368268602
D4G Hgd CHF 9.16 0.00 0.00 Feb 20, 2024 9.47 8.16 LU2448342647
A6 Hgd JPY 1,026.00 0.00 0.00 Feb 20, 2024 1,030.00 940.00 LU2655522857
A4G Hgd CHF 9.00 0.00 0.00 Feb 20, 2024 9.36 8.04 LU2448342480
D2 Hgd EUR 11.95 0.00 0.00 Feb 20, 2024 11.95 10.19 LU0827880930
A2 Hgd CHF 10.25 0.00 0.00 Feb 20, 2024 10.25 8.99 LU2315843826
D5G USD 5.66 0.00 0.00 Feb 20, 2024 5.66 5.03 LU0265552215
D5G Hgd EUR 8.89 0.01 0.11 Feb 20, 2024 8.89 7.99 LU2315843586
D5G Hgd CHF 8.68 0.00 0.00 Feb 20, 2024 8.68 7.86 LU2315843743
A8 Hgd ZAR 98.30 0.03 0.03 Feb 20, 2024 98.36 88.25 LU2250418733
A2 Hgd HKD 112.78 0.02 0.02 Feb 20, 2024 112.78 95.96 LU2290526081
A8 Hgd CNH 82.83 0.00 0.00 Feb 20, 2024 82.90 74.89 LU1149717743
Class I5G Hedged EUR 8.71 0.00 0.00 Feb 20, 2024 8.71 7.83 LU2319964198
A6 Hgd EUR 10.27 0.00 0.00 Feb 20, 2024 10.28 9.30 LU2641782821
X2 USD 15.48 0.00 0.00 Feb 20, 2024 15.48 12.82 LU0265554344
A5G Hgd CHF 8.45 0.00 0.00 Feb 20, 2024 8.50 7.68 LU2315843669
D2 Hgd CHF 10.52 0.00 0.00 Feb 20, 2024 10.52 9.15 LU2315844048
Class I5G Hedged CHF 8.51 0.00 0.00 Feb 20, 2024 8.52 7.71 LU2319964271
D5G Hgd GBP 9.17 0.00 0.00 Feb 20, 2024 9.17 8.21 LU2325744022
E2 EUR 15.93 -0.09 -0.56 Feb 20, 2024 16.02 13.71 LU1276852156

Portfolio Managers

Portfolio Managers

Robert Fisher
Robert Fisher
Andrew Huzzey
Andrew Huzzey
Muzo Kayacan
Muzo Kayacan

Literature

Literature