Equity

BGF Sustainable Energy 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.

Loading

Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart

  2018 2019 2020 2021 2022
Total Return (%) 26.14 46.86 14.50 -21.59
  1Y 3Y 5Y 10y Incept.
-21.59 9.65 - - 7.37
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-21.59 -3.75 13.32 10.96 -21.59 31.84 - - 38.70
  From
31-Dec-2017
To
31-Dec-2018
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
Total Return (%)

as of Dec 31, 2022

- 26.14 46.86 14.50 -21.59
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

Net Assets of Fund as of Feb 1, 2023 USD 7,062,439,454
Share Class Inception Date May 23, 2018
Fund Inception Date Mar 15, 2001
Share Class Currency EUR
Base Currency USD
Asset Class Equity
SFDR Classification Article 9
Initial Charge 5.00%
Ongoing Charge 1.97%
Annual Management Fee 1.65%
Performance Fee -
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating
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 BGNA2EH
ISIN LU1822773807
SEDOL BG0B4C4

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 30, 2022 47
Standard Deviation (3y) as of Dec 31, 2022 25.13%
P/E Ratio as of Dec 30, 2022 27.12
P/B Ratio as of Dec 30, 2022 2.84

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 Nov 21, 2022 AA
MSCI ESG % Coverage as of Nov 21, 2022 97.28
MSCI ESG Quality Score (0-10) as of Nov 21, 2022 8.51
MSCI ESG Quality Score - Peer Percentile as of Nov 21, 2022 87.37
Fund Lipper Global Classification as of Nov 21, 2022 Equity Theme - Alternative Energy
Funds in Peer Group as of Nov 21, 2022 190
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Nov 21, 2022 548.89
MSCI Weighted Average Carbon Intensity % Coverage as of Nov 21, 2022 94.45
All data is from MSCI ESG Fund Ratings as of Nov 21, 2022, based on holdings as of Jun 30, 2022. 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.

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 Dec 30, 2022 0.00%
MSCI - UN Global Compact Violators as of Dec 30, 2022 0.00%
MSCI - Nuclear Weapons as of Dec 30, 2022 0.00%
MSCI - Thermal Coal as of Dec 30, 2022 0.00%
MSCI - Civilian Firearms as of Dec 30, 2022 0.00%
MSCI - Oil Sands as of Dec 30, 2022 0.00%
MSCI - Tobacco as of Dec 30, 2022 0.00%

Business Involvement Coverage as of Dec 30, 2022 98.74%
Percentage of Fund not covered as of Dec 30, 2022 1.23%
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 0.00% 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 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 considers ESG criteria in combination with other information during the idea generation, company research, portfolio construction and ongoing monitoring phases of the investment process. ESG information may be sourced from third-party vendors, as well as internal engagement commentary and site visits and input from BlackRock Investment Stewardship. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Dec 30, 2022
Name Weight (%)
NEXTERA ENERGY INC 5.62
RWE AG 5.20
ENEL SPA 5.05
VESTAS WIND SYSTEMS A/S 3.69
EDP - ENERGIAS DE PORTUGAL SA 3.26
Name Weight (%)
INGERSOLL RAND INC 3.03
LG CHEM LTD 2.92
ANALOG DEVICES INC 2.92
SCHNEIDER ELECTRIC SE 2.82
LAIR LIQUIDE SA POUR LETUDE ET LEXPLO DES PROCEDES GEORGES CLAUDE SA 2.81
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% of Market Value

Type Fund
Sorry, countries/regions are not available at this time.
as of Dec 30, 2022

% of Market Value

Type Fund
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 NAV As Of 52wk High 52wk Low ISIN TIS
A2 Hgd EUR Accumulating 15.01 0.19 1.28 Feb 1, 2023 15.79 11.74 LU1822773807 -
D4 EUR Annual 15.54 0.13 0.84 Feb 1, 2023 16.02 13.12 LU0827885574 -
Class S2 USD Accumulating 18.19 0.24 1.34 Feb 1, 2023 18.29 14.00 LU1706558779 -
A4 EUR Annual 14.97 0.13 0.88 Feb 1, 2023 15.48 12.69 LU0408221868 -
Class X10 USD Monthly 11.17 0.15 1.36 Feb 1, 2023 11.28 8.75 LU2471418470 -
A2 Hgd SGD - 17.13 0.22 1.30 Feb 1, 2023 17.61 13.28 LU1978683503 -
Class A10 USD Monthly 12.26 0.17 1.41 Feb 1, 2023 12.39 9.97 LU2533724782 -
Class AI2 EUR - 17.56 0.15 0.86 Feb 1, 2023 18.15 14.89 LU1978682794 -
A2 EUR Accumulating 15.14 0.13 0.87 Feb 1, 2023 15.65 12.83 LU0171289902 -
A2 USD Accumulating 16.50 0.22 1.35 Feb 1, 2023 16.72 12.74 LU0124384867 -
D4 GBP Annual 13.97 0.17 1.23 Feb 1, 2023 14.11 11.43 LU0435534705 -
D2 USD Accumulating 18.79 0.26 1.40 Feb 1, 2023 18.91 14.46 LU0252969661 -
X2 USD Accumulating 22.53 0.30 1.35 Feb 1, 2023 22.65 17.29 LU0414947514 -
D2 EUR Accumulating 17.23 0.15 0.88 Feb 1, 2023 17.75 14.55 LU0252964944 -
C2 USD Accumulating 12.67 0.17 1.36 Feb 1, 2023 12.98 9.82 LU0147411861 -
X2 Hgd EUR Accumulating 16.87 0.23 1.38 Feb 1, 2023 17.45 13.11 LU1686870871 -
I2 USD Accumulating 18.79 0.25 1.35 Feb 1, 2023 18.89 14.46 LU0534476519 -
E2 USD Accumulating 14.82 0.20 1.37 Feb 1, 2023 15.08 11.45 LU0124386052 -
A4 GBP Annual 13.27 0.16 1.22 Feb 1, 2023 13.41 10.90 LU0204063720 -
E2 EUR Accumulating 13.59 0.12 0.89 Feb 1, 2023 14.08 11.56 LU0171290074 -
I5 EUR Quarterly 10.31 0.09 0.88 Feb 1, 2023 10.62 8.70 LU2452424331 -
C2 EUR Accumulating 11.62 0.10 0.87 Feb 1, 2023 12.09 9.93 LU0331286574 -

Portfolio Managers

Portfolio Managers

Alastair Bishop
Alastair Bishop
Charles Lilford
Charles Lilford

Literature

Literature