Equity

BGF World Technology 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. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. 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.

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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Reinvestments

This fund does not have any distributions data as of now.

  2018 2019 2020 2021 2022
Total Return (%) 84.10 7.72 -45.08
Constraint Benchmark 1 (%) 45.61 27.36 -31.07

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

  1Y 3Y 5Y 10y Incept.
27.02 -4.87 - - 12.40
Constraint Benchmark 1 (%) 33.17 10.69 - - 19.78
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
34.67 14.29 2.35 7.65 27.02 -13.92 - - 74.40
Constraint Benchmark 1 (%) 44.50 13.55 5.16 11.68 33.17 35.64 - - 136.01
  From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
From
30-Sep-2022
To
30-Sep-2023
Total Return (%)

as of Sep 30, 2023

- 69.33 28.60 -40.30 16.73
Constraint Benchmark 1 (%)

as of Sep 30, 2023

- 44.79 30.26 -26.63 35.88
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 JPY 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 Dec 7, 2023 USD 9,979,413,207
Share Class Inception Date Feb 27, 2019
Fund Inception Date Mar 3, 1995
Share Class Currency JPY
Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI All Country World Information Technology- Net Return in USD
SFDR Classification Article 8
Initial Charge 5.00%
Ongoing Charge 1.79%
ISIN LU1948809444
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment JPY 5000
Minimum Subsequent Investment JPY 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 BGTA2JH
SEDOL BJDQ2G7

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Nov 30, 2023 79
Standard Deviation (3y) as of Nov 30, 2023 25.42%
P/E Ratio as of Nov 30, 2023 41.69
P/B Ratio as of Nov 30, 2023 9.11

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 Oct 25, 2023 AA
MSCI ESG % Coverage as of Oct 25, 2023 96.15
MSCI ESG Quality Score (0-10) as of Oct 25, 2023 7.22
MSCI ESG Quality Score - Peer Percentile as of Oct 25, 2023 81.79
Fund Lipper Global Classification as of Oct 25, 2023 Equity Sector Information Tech
Funds in Peer Group as of Oct 25, 2023 961
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Oct 25, 2023 20.64
MSCI Weighted Average Carbon Intensity % Coverage as of Oct 25, 2023 95.74
All data is from MSCI ESG Fund Ratings as of Oct 25, 2023, based on holdings as of May 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 Nov 30, 2023 0.00%
MSCI - UN Global Compact Violators as of Nov 30, 2023 0.00%
MSCI - Nuclear Weapons as of Nov 30, 2023 0.00%
MSCI - Thermal Coal as of Nov 30, 2023 0.00%
MSCI - Civilian Firearms as of Nov 30, 2023 0.00%
MSCI - Oil Sands as of Nov 30, 2023 0.00%
MSCI - Tobacco as of Nov 30, 2023 0.00%

Business Involvement Coverage as of Nov 30, 2023 97.32%
Percentage of Fund not covered as of Nov 30, 2023 2.59%
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 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 includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. 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-related metrics, and other factors.

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Sep 13, 2019)

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Oct 31, 2023
Name Weight (%)
MICROSOFT CORP 9.89
APPLE INC 8.92
NVIDIA CORP 7.89
CADENCE DESIGN SYSTEMS INC 3.63
META PLATFORMS INC CLASS A 2.82
Name Weight (%)
BROADCOM INC 2.75
MASTERCARD INC CLASS A 2.69
ASML HOLDING NV 2.53
ALPHABET INC CLASS A 2.46
AMAZON COM INC 2.43
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Oct 31, 2023

% of Market Value

Type Fund
as of Oct 31, 2023

% of Market Value

Type Fund
as of Oct 31, 2023

% of Market Value

Type Fund
as of Oct 31, 2023

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A2 Hgd JPY 1,722.00 -14.00 -0.81 Dec 7, 2023 1,778.00 1,285.00 LU1948809444
X2 USD 26.48 -0.22 -0.82 Dec 7, 2023 27.03 18.45 LU1733225426
A2 Hgd EUR 17.54 -0.14 -0.79 Dec 7, 2023 17.91 12.70 LU1822773716
A2 Hgd AUD 9.37 -0.08 -0.85 Dec 7, 2023 9.56 6.76 LU2250418659
I2 JPY 4,021.00 -109.00 -2.64 Dec 7, 2023 4,190.00 2,578.00 LU2263536232
I2 Hgd USD 11.90 -0.13 -1.08 Dec 7, 2023 12.21 7.29 LU2310090274
C2 USD 50.83 -0.43 -0.84 Dec 7, 2023 51.92 36.41 LU0147408131
A2 GBP 53.58 -0.26 -0.48 Dec 7, 2023 54.36 39.54 LU0171311680
Class I4 USD 8.16 -0.06 -0.73 Dec 7, 2023 8.33 5.72 LU2360108307
Class X10 USD 11.04 -0.09 -0.81 Dec 7, 2023 11.48 8.23 LU2471419106
E2 EUR 56.30 -0.36 -0.64 Dec 7, 2023 56.66 40.63 LU0171310955
I2 EUR 25.81 -0.17 -0.65 Dec 7, 2023 25.98 18.37 LU1722863211
D2 Hgd EUR 13.25 -0.11 -0.82 Dec 7, 2023 13.53 9.53 LU2168656184
I2 Hgd EUR 18.79 -0.16 -0.84 Dec 7, 2023 19.19 13.49 LU1728554749
I2 USD 27.81 -0.23 -0.82 Dec 7, 2023 28.39 19.51 LU2134542260
A2 Hgd SGD 17.76 -0.15 -0.84 Dec 7, 2023 18.14 12.79 LU1852331112
I2 GBP 22.16 -0.10 -0.45 Dec 7, 2023 22.47 16.20 LU2168066038
E2 USD 60.65 -0.51 -0.83 Dec 7, 2023 61.94 43.14 LU0147408487
A4 USD 9.54 -0.08 -0.83 Dec 7, 2023 9.74 6.75 LU2360106780
D2 GBP 59.85 -0.29 -0.48 Dec 7, 2023 60.70 43.86 LU0827890491
Class AI2 EUR 18.97 -0.12 -0.63 Dec 7, 2023 19.09 13.62 LU1960224811
E2 Hgd EUR 7.95 -0.07 -0.87 Dec 7, 2023 8.12 5.79 LU2298322475
Class A10 USD 12.33 -0.11 -0.88 Dec 7, 2023 12.91 9.36 LU2533723974
Class I5 Hedged GBP 8.79 -0.08 -0.90 Dec 7, 2023 8.97 6.23 LU2267099328
A4 EUR 8.85 -0.06 -0.67 Dec 7, 2023 8.91 6.36 LU2357541692
A2 EUR 62.42 -0.40 -0.64 Dec 7, 2023 62.82 44.83 LU0171310443
A2 HKD 525.48 -4.15 -0.78 Dec 7, 2023 535.80 371.76 LU2250418816
D2 USD 75.11 -0.63 -0.83 Dec 7, 2023 76.69 52.82 LU0724618946
A2 USD 67.25 -0.56 -0.83 Dec 7, 2023 68.67 47.61 LU0056508442
A2 Hgd CNH 97.91 -0.83 -0.84 Dec 7, 2023 100.03 71.15 LU2250418907
D2 EUR 69.72 -0.45 -0.64 Dec 7, 2023 70.17 49.73 LU0376438312

Portfolio Managers

Portfolio Managers

Tony Kim
Head of Technology Investing, Fundamental Active Equity

Tony Kim

Reid Menge
Reid Menge

Literature

Literature