Fixed Income

BGF Sustainable Emerging Markets Local Currency 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. Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Non-investment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. 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, failed/delayed delivery of securities or payments to the Fund and sustainability-related risks. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Derivatives may be 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. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.
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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

- - -7.76 8.21 -20.41
Benchmark (%)

as of Jun 30, 2022

- - -3.00 6.92 -20.40
  1Y 3Y 5Y 10y Incept.
-19.06 -6.10 - - -3.62
Benchmark (%)

as of Aug 31, 2022

-20.38 -5.51 - - -1.92
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-14.14 0.00 -3.47 -19.06 -17.20 - - -13.80
Benchmark (%)

as of Aug 31, 2022

-14.98 -0.31 -4.48 -20.38 -15.65 - - -7.52
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 Sep 23, 2022 USD 417.896
12m Trailing Yield -
Number of Holdings as of Aug 31, 2022 184
Base Currency U.S. Dollar
Fund Inception Date Jul 9, 2018
Share Class Inception Date Aug 22, 2018
Asset Class Fixed Income
Morningstar Category Other Bond
Benchmark Index J.P. Morgan ESG-Government Bond Index Emerging Markets Global Diversified
SFDR Classification Article 8
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.59%
ISIN LU1862385918
Bloomberg Ticker BGEI2EH
Annual Management Fee -
Initial Charge -
Performance Fee -
SEDOL BG0NM26
Bloomberg Benchmark Ticker -
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 Accumulating

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of Aug 31, 2022 11.65
3y Beta as of Aug 31, 2022 1.086
5y Volatility - Benchmark as of - -
5y Beta as of - -

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Aug 31, 2022
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2024 3.05
CZECH REPUBLIC 4.7 09/12/2022 2.85
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2023 2.13
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 1.86
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.86
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.81
CZECH REPUBLIC 0.45 10/25/2023 1.68
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 1.43
POLAND (REPUBLIC OF) 4 10/25/2023 1.35
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 1.35
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 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
I2 Hgd EUR - 8.36 -0.07 -0.83 10.47 8.21 - LU1862385918 - -
A2 Hgd EUR Accumulating 7.54 -0.07 -0.92 9.52 7.42 - LU1817794545 - -
D2 USD Accumulating 8.50 -0.07 -0.82 10.42 8.30 - LU1817794388 - -
E2 Hgd EUR - 8.32 -0.08 -0.95 10.55 8.19 - LU1864665788 - -
Class E5 Hedged EUR Quarterly 7.21 -0.06 -0.83 9.47 7.17 - LU1864665861 - -
D2 Hgd CHF Accumulating 7.65 -0.07 -0.91 9.57 7.52 - LU1817794891 - -
I2 EUR - 9.82 0.01 0.10 10.14 9.15 - LU1864666083 - -
A2 USD Accumulating 8.33 -0.08 -0.95 10.26 8.14 - LU1860487765 - -
D2 Hgd EUR Accumulating 7.70 -0.07 -0.90 9.67 7.57 - LU1817794628 - -
I2 USD - 9.56 -0.09 -0.93 11.70 9.33 - LU1864665945 - -
X2 USD - 8.74 -0.07 -0.79 10.64 8.52 - LU1817794461 - -
X2 AUD - 13.31 -0.01 -0.08 14.70 12.52 - LU1860487682 - -

Listings

Portfolio Managers

Portfolio Managers

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.

Amer Bisat
Managing Director, Head of Emerging Markets Fixed Income

Amer Bisat, PhD., Managing Director, is Head of Emerging Markets Fixed Income and a member of the Fundamental-GFI Executive Committee.

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