Fixed Income

BGF European High Yield 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. The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment.
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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
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
Total Return (%)

as of Jun 30, 2022

1.28 5.68 -0.51 13.45 -15.26
Benchmark (%)

as of Jun 30, 2022

0.86 5.41 -1.92 11.22 -13.87
  1Y 3Y 5Y 10y Incept.
-11.69 -0.37 1.11 - 2.27
Benchmark (%)

as of Jul 31, 2022

-10.07 -0.76 0.74 - 2.32
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-12.02 4.37 -5.26 -11.69 -1.10 5.69 - 17.10
Benchmark (%)

as of Jul 31, 2022

-10.03 4.81 -3.49 -10.07 -2.27 3.75 - 17.50
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 Aug 11, 2022 EUR 353.583
12m Trailing Yield -
Number of Holdings as of Jul 29, 2022 360
Base Currency Euro
Fund Inception Date Jul 23, 2015
Share Class Inception Date Jul 23, 2015
Asset Class Fixed Income
Morningstar Category EUR High Yield Bond
Benchmark Index BBG Pan European HY 3% Issuer Constrained 100% EUR Hedged Index
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.78%
ISIN LU1191877965
Bloomberg Ticker BGEHYD2
Annual Management Fee 0.55%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BYN89R8
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 100000
Minimum Subsequent Investment -
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of Jul 29, 2022 8.01%
Modified Duration as of Jul 29, 2022 3.18 yrs
Effective Duration as of Jul 29, 2022 3.15 yrs
Weighted Avg Maturity as of Jul 29, 2022 4.87 yrs
3y Volatility - Benchmark as of Jul 31, 2022 10.88
3y Beta as of Jul 31, 2022 0.959
5y Volatility - Benchmark as of Jul 31, 2022 8.74
5y Beta as of Jul 31, 2022 0.959
WAL to Worst as of Jul 29, 2022 4.87 yrs

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 the investment research, portfolio construction, and investment monitoring phases of the investment process. The Fund manager maintains internal ESG scorecards for new primary issuers under consideration for investment and existing issuers of publicly traded securities. These scorecards analyze and track internal and external research views across a range of environmental, social, and governance factors sourced from primary and third party ESG information and research. Portfolio management teams consider the sector and issuer ESG views and scores when selecting individual investments during portfolio construction. ESG factors are debated and considered in investment decisions. The Fund manager also considers ESG criteria during post-investment monitoring and 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.

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for BGF European High Yield Bond Fund, Class D2, as of Jul 31, 2022 rated against 724 EUR High Yield Bond Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Jul 29, 2022
Name Weight (%)
CELLNEX TELECOM SA RegS 0.75 11/20/2031 2.20
COMMERZBANK AG RegS 6.125 12/31/2049 1.16
RCI BANQUE SA RegS 2.625 02/18/2030 1.13
AUTOSTRADE PER LITALIA SPA RegS 2 01/15/2030 1.13
NIDDA HEALTHCARE HOLDING AG RegS 3.5 09/30/2024 1.06
Name Weight (%)
DEUTSCHE BANK AG MTN RegS 4 06/24/2032 1.05
CARNIVAL CORP RegS 10.125 02/01/2026 1.03
INTESA SANPAOLO SPA PNC7.5 RegS 5.5 12/31/2049 1.00
BELLIS ACQUISITION COMPANY PLC RegS 3.25 02/16/2026 0.94
LORCA TELECOM BONDCO SAU RegS 4 09/18/2027 0.93
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jul 29, 2022

% of Market Value

Type Fund Benchmark Net
as of Jul 29, 2022

% of Market Value

Type Fund Benchmark Net
as of Jul 29, 2022

% of Market Value

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

% of Market Value

Type Fund Benchmark Net
as of Jul 29, 2022

% of Market Value

Type Fund Benchmark Net
as of Jul 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

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
D2 EUR Accumulating 11.92 0.05 0.42 13.41 11.15 - LU1191877965 - -
X2 EUR Accumulating 12.55 0.06 0.48 14.02 11.73 - LU1264796209 - -
E2 EUR Accumulating 11.09 0.05 0.45 12.58 10.38 - LU1270846881 - -
D4 EUR Annual 9.44 0.04 0.43 10.94 8.83 - LU1258857561 - -
A2 EUR Accumulating 11.47 0.05 0.44 12.95 10.73 - LU1191877379 - -
A2 Hgd CHF Accumulating 11.14 0.04 0.36 12.61 10.44 - LU1258857728 - -
E5 EUR Quarterly 9.12 0.04 0.44 10.63 8.54 - LU1270846964 - -
D4 Hgd GBP Annual 9.86 0.05 0.51 11.31 9.21 - LU1258858023 - -
A2 Hgd SEK Accumulating 113.73 0.50 0.44 128.53 106.43 - LU1258857645 - -

Listings

Portfolio Managers

Portfolio Managers

Stephen Gough
Stephen Gough
Jose Aguilar
Managing Director

Jose Aguilar, Managing Director, is the head of European High Yield Strategies within BlackRock's Global Credit Platform.

James Turner
Managing Director

James Turner ACA, is Head of European Leveraged Finance, overseeing investment strategies across European High Yield, Long/Short Credit, CLOs, Leveraged Loans and the European Fundamental Credit Research team.

Literature

Literature