Equity

BGF World Mining 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

Reinvestments

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

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 30.10 14.53 -3.02 -3.46
Constraint Benchmark 1 (%) 33.96 14.08 -0.97 8.49

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

  1Y 3Y 5Y 10y Incept.
-1.88 -2.86 8.57 - 7.05
Constraint Benchmark 1 (%) 7.02 2.24 14.21 - 12.96
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
1.00 5.70 7.39 14.83 -1.88 -8.33 50.86 - 40.90
Constraint Benchmark 1 (%) 2.49 3.88 9.63 19.85 7.02 6.87 94.32 - 84.74
  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of Mar 31, 2024

- 101.88 29.92 -19.12 -9.20
Constraint Benchmark 1 (%)

as of Mar 31, 2024

- 103.79 25.65 -12.25 1.82
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 EUR, 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 May 23, 2024 USD 5,191,292,146
Share Class Inception Date Apr 17, 2019
Fund Inception Date Mar 21, 1997
Share Class Currency EUR
Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI ACWI Metals & Mining 30% Buffer 10/40 (1994) USD
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 2.06%
ISIN LU1960224738
Annual Management Fee -
Performance Fee -
Minimum Initial Investment EUR 25000
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 BGWMAI2
SEDOL BHL2VK0

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Apr 30, 2024 52
Standard Deviation (3y) as of Apr 30, 2024 27.73%
3y Beta as of Apr 30, 2024 0.973
P/E Ratio as of Apr 30, 2024 17.66
P/B Ratio as of Apr 30, 2024 2.01

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 May 19, 2024 A
MSCI ESG % Coverage as of May 19, 2024 94.43
MSCI ESG Quality Score (0-10) as of May 19, 2024 6.38
MSCI ESG Quality Score - Peer Percentile as of May 19, 2024 64.58
Fund Lipper Global Classification as of May 19, 2024 Equity Sector Materials
Funds in Peer Group as of May 19, 2024 144
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of May 19, 2024 355.45
MSCI Weighted Average Carbon Intensity % Coverage as of May 19, 2024 94.12
All data is from MSCI ESG Fund Ratings as of May 19, 2024, based on holdings as of Dec 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 Apr 30, 2024 0.00%
MSCI - UN Global Compact Violators as of Apr 30, 2024 5.89%
MSCI - Nuclear Weapons as of Apr 30, 2024 0.00%
MSCI - Thermal Coal as of Apr 30, 2024 14.50%
MSCI - Civilian Firearms as of Apr 30, 2024 0.00%
MSCI - Oil Sands as of Apr 30, 2024 4.26%
MSCI - Tobacco as of Apr 30, 2024 0.00%

Business Involvement Coverage as of Apr 30, 2024 97.82%
Percentage of Fund not covered as of Apr 30, 2024 2.27%
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 17.87% and for Oil Sands 6.04%.

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 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, 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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Apr 30, 2024
Name Weight (%)
GLENCORE PLC 8.53
FREEPORT-MCMORAN INC 6.00
ANGLO AMERICAN PLC 5.99
BHP GROUP LTD 5.97
RIO TINTO PLC 5.86
Name Weight (%)
NEWMONT CORPORATION 4.77
TECK RESOURCES LTD 4.26
WHEATON PRECIOUS METALS CORP 4.09
IVANHOE MINES LTD 3.93
AGNICO EAGLE MINES LTD (ONTARIO) 3.76
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Apr 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Apr 30, 2024

% of Market Value

Type Fund Benchmark Net
Sorry, countries/regions are not available at this time.
as of Apr 30, 2024

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class AI2 Hedged EUR 14.59 -0.28 -1.88 May 23, 2024 15.18 12.11 LU1960224738
Class S2 EUR 15.92 -0.31 -1.91 May 23, 2024 16.55 13.15 LU2459103805
Class X10 USD 9.66 -0.19 -1.93 May 23, 2024 10.05 8.10 LU2471418983
D2 Hgd PLN 10.51 -0.21 -1.96 May 23, 2024 10.94 8.63 LU0827890061
Class AI2 EUR 18.28 -0.36 -1.93 May 23, 2024 19.00 15.14 LU1960219498
E2 EUR 54.30 -1.07 -1.93 May 23, 2024 56.46 45.02 LU0172157363
A2 USD 66.55 -1.30 -1.92 May 23, 2024 69.27 54.64 LU0075056555
A2 Hgd EUR 4.86 -0.09 -1.82 May 23, 2024 5.06 4.03 LU0326424115
D4 GBP 46.00 -0.81 -1.73 May 23, 2024 47.90 38.17 LU0827889725
D2 USD 76.33 -1.50 -1.93 May 23, 2024 79.46 62.42 LU0252968341
I2 EUR 70.79 -1.40 -1.94 May 23, 2024 73.60 58.48 LU0368236583
Class S2 USD 17.25 -0.34 -1.93 May 23, 2024 17.95 14.09 LU1706559157
I2 GBP 60.33 -1.06 -1.73 May 23, 2024 62.82 50.02 LU2527846245
E2 Hgd EUR 4.47 -0.09 -1.97 May 23, 2024 4.66 3.72 LU0326425351
A2 Hgd AUD 11.90 -0.23 -1.90 May 23, 2024 12.38 9.88 LU1023059493
I2 Hgd EUR 5.70 -0.11 -1.89 May 23, 2024 5.94 4.71 LU0368236740
Class I4 GBP 11.12 -0.20 -1.77 May 23, 2024 11.58 9.22 LU2527846328
A2 Hgd SGD 5.71 -0.12 -2.06 May 23, 2024 5.95 4.74 LU0330918003
X2 Hgd EUR 6.46 -0.13 -1.97 May 23, 2024 6.72 5.31 LU0485065857
D2 Hgd SGD 9.04 -0.18 -1.95 May 23, 2024 9.41 7.47 LU0827890228
D2 EUR 70.44 -1.38 -1.92 May 23, 2024 73.23 58.23 LU0252963383
E2 USD 58.85 -1.15 -1.92 May 23, 2024 61.26 48.44 LU0090845842
A2 Hgd PLN 9.64 -0.19 -1.93 May 23, 2024 10.03 7.95 LU0480534758
I2 USD 76.72 -1.50 -1.92 May 23, 2024 79.86 62.65 LU0368260294
A2 Hgd HKD 11.35 -0.23 -1.99 May 23, 2024 11.82 9.37 LU0788109121
Class A10 USD 10.71 -0.21 -1.92 May 23, 2024 11.33 9.06 LU2533724279
X2 GBP 76.28 -1.34 -1.73 May 23, 2024 79.43 63.10 LU2699150053
A2 Hgd CHF 7.84 -0.16 -2.00 May 23, 2024 8.17 6.54 LU0521028554
B2 USD 11.16 -0.22 -1.93 May 23, 2024 11.62 10.00 LU2776654506
X2 USD 97.00 -1.90 -1.92 May 23, 2024 100.96 78.80 LU0147406192
C2 Hgd EUR 3.95 -0.08 -1.99 May 23, 2024 4.11 3.30 LU0326424974
C2 EUR 45.04 -0.89 -1.94 May 23, 2024 46.83 37.41 LU0331290337
Class S2 Hedged EUR 15.34 -0.30 -1.92 May 23, 2024 15.97 12.68 LU2099033859
D2 Hgd GBP 37.96 -0.73 -1.89 May 23, 2024 39.49 31.14 LU0827890145
C2 USD 48.81 -0.95 -1.91 May 23, 2024 50.81 40.34 LU0147405384
D2 Hgd CHF 8.57 -0.17 -1.95 May 23, 2024 8.93 7.13 LU0827889998
A2 EUR 61.41 -1.21 -1.93 May 23, 2024 63.85 50.85 LU0172157280
A4 GBP 45.64 -0.81 -1.74 May 23, 2024 47.53 37.94 LU0204068877
D2 Hgd EUR 5.48 -0.11 -1.97 May 23, 2024 5.70 4.53 LU0326425278
A4 EUR 55.06 -1.08 -1.92 May 23, 2024 57.24 45.59 LU0408222593

Portfolio Managers

Portfolio Managers

Evy Hambro
Managing Director, Global Head of Thematic and Sector based Investing, Fundamental Equity

Stephanie Lee

Olivia Markham
Olivia Markham

Literature

Literature