Fixed Income

BGF ESG Emerging Markets Corporate 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. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.
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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

- - -7.23 14.32 -7.27
Benchmark (%)

as of Mar 31, 2022

- - -3.06 17.85 -5.66
  1Y 3Y 5Y 10y Incept.
-10.82 -1.88 - - -0.74
Benchmark (%)

as of Apr 30, 2022

-8.20 1.52 - - 3.06
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-9.99 -3.38 -7.77 -10.82 -5.53 - - -2.70
Benchmark (%)

as of Apr 30, 2022

-9.13 -2.14 -7.67 -8.20 4.63 - - 11.76
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 103.228
12m Trailing Yield -
Number of Holdings as of Apr 29, 2022 120
Base Currency U.S. Dollar
Fund Inception Date Jul 9, 2018
Share Class Inception Date Aug 22, 2018
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Corporate Bond - EUR Biased
Benchmark Index J.P. Morgan ESG-Corporate Emerging Markets Bond Index Broad Diversified
SFDR Classification Article 8
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 2.19%
ISIN LU1864664039
Bloomberg Ticker BGEE2EH
Annual Management Fee -
Initial Charge 3.00%
Performance Fee -
SEDOL BG0NM82
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of Apr 30, 2022 8.63
3y Beta as of Apr 30, 2022 1.066
5y Volatility - Benchmark as of - -
5y Beta as of - -

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 Apr 7, 2022 BBB
MSCI ESG % Coverage as of Apr 7, 2022 87.91
MSCI ESG Quality Score (0-10) as of Apr 7, 2022 4.87
MSCI ESG Quality Score - Peer Percentile as of Apr 7, 2022 83.52
Fund Lipper Global Classification as of Apr 7, 2022 Bond Emerging Markets Global Corporates
Funds in Peer Group as of Apr 7, 2022 91
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Apr 7, 2022 487.89
MSCI Weighted Average Carbon Intensity % Coverage as of Apr 7, 2022 82.94
All data is from MSCI ESG Fund Ratings as of Apr 7, 2022, based on holdings as of Nov 30, 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.

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 Apr 29, 2022 0.00%
MSCI - UN Global Compact Violators as of Apr 29, 2022 0.50%
MSCI - Nuclear Weapons as of Apr 29, 2022 0.00%
MSCI - Thermal Coal as of Apr 29, 2022 0.00%
MSCI - Civilian Firearms as of Apr 29, 2022 0.00%
MSCI - Oil Sands as of Apr 29, 2022 0.00%
MSCI - Tobacco as of Apr 29, 2022 0.00%

Business Involvement Coverage as of Apr 29, 2022 55.42%
Percentage of Fund not covered as of Apr 29, 2022 45.99%
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%.

Metrics have been reported based on MSCI data for consistency with MSCI fund rating, this fund is managed using data from Sustainalytics.


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 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 ESG Emerging Markets Corporate Bond Fund, Class E2 Hedged, as of Apr 30, 2022 rated against 284 Global Emerging Markets Corporate Bond - EUR Biased Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Apr 29, 2022
Name Weight (%)
BBVA BANCOMER SA INSTITUCION DE BA RegS 5.875 09/13/2034 2.33
GRUPO BIMBO SAB DE CV RegS 5.95 12/31/2049 2.04
MILLICOM INTERNATIONAL CELLULAR S. RegS 6.25 03/25/2029 1.91
CEMEX SAB DE CV RegS 5.125 12/31/2049 1.80
TEVA PHARMACEUTICAL FINANCE NETHER 4.75 05/09/2027 1.76
Name Weight (%)
MERCADOLIBRE INC 3.125 01/14/2031 1.67
BANCO CONTINENTAL SAECA RegS 2.75 12/10/2025 1.62
BANK HAPOALIM BM 3.255 01/21/2032 1.57
CENTRAL AMERICA BOTTLING CORP RegS 5.25 04/27/2029 1.49
BRASKEM NETHERLANDS FINANCE BV RegS 8.5 01/23/2081 1.42
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
E2 Hgd EUR - 9.42 0.01 0.11 11.14 9.41 - LU1864664039 - -
I2 Hgd EUR - 9.94 0.00 0.00 11.66 9.94 - LU1864664468 - -
I2 USD - 10.72 0.00 0.00 12.45 10.72 - LU1864664203 - -
A2 Hgd EUR Accumulating 9.53 0.01 0.11 11.23 9.52 - LU1817796243 - -
I2 EUR - 10.15 0.00 0.00 10.81 9.92 - LU1864664385 - -
D2 USD Accumulating 10.61 0.00 0.00 12.34 10.61 - LU1817796086 - -
Class E5 Hedged EUR Quarterly 8.64 0.00 0.00 10.38 8.64 - LU1864664112 - -
X2 USD - 10.99 0.00 0.00 12.70 10.99 - LU1817796169 - -
A2 USD Accumulating 10.25 0.00 0.00 11.98 10.25 - LU1860487922 - -
D2 Hgd EUR Accumulating 9.79 0.00 0.00 11.49 9.79 - LU1817796326 - -
D2 Hgd CHF Accumulating 9.70 0.00 0.00 11.39 9.70 - LU1817796599 - -

Portfolio Managers

Portfolio Managers

Jack Deino, CFA
Head of Emerging Markets Corporate Debt

Jack Deino, CFA, Director, is Head of the Emerging Markets Corporate Debt Team and a lead portfolio manager within BlackRock's Global Fixed Income Group. 

Amer Bisat
Amer Bisat
Jack Deino, CFA
Head of Emerging Markets Corporate Debt

Jack Deino, CFA, Director, is Head of the Emerging Markets Corporate Debt Team and a lead portfolio manager within BlackRock's Global Fixed Income Group. 

Jane Yu
Jane Yu
Mark Yu
Mark Yu

Literature

Literature