Equity

BGF Next Generation 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. Investments in the technology securities are subject to absence or loss of intellectual property protections, rapid changes in technology, government regulation and competition. 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

View full chart

  2019 2020 2021 2022 2023
Total Return (%) -52.10 32.38

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

  1Y 3Y 5Y 10y Incept.
24.63 -11.50 - - -8.09
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
16.77 7.51 6.75 16.77 24.63 -30.68 - - -24.10
  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of Jun 30, 2024

- - -50.68 12.78 24.63
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 GBP, 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 Jul 11, 2024
USD 2,833,495,424
Fund Inception Date
Sep 4, 2018
Base Currency
USD
SFDR Classification
Article 8
Ongoing Charge
0.91%
Annual Management Fee
0.68%
Minimum Initial Investment
GBP 50000000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BLF8N40
Share Class Inception Date
Mar 24, 2021
Share Class Currency
GBP
Asset Class
Equity
Initial Charge
0.00%
ISIN
LU2310089854
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGNGTSA

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jun 28, 2024
110
P/E Ratio
as of Jun 28, 2024
48.14
Standard Deviation (3y)
as of Jun 30, 2024
28.15%
P/B Ratio
as of Jun 28, 2024
7.18

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 Jun 21, 2024
A
MSCI ESG Quality Score (0-10)
as of Jun 21, 2024
6.70
Fund Lipper Global Classification
as of Jun 21, 2024
Equity Sector Information Tech
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Jun 21, 2024
24.17
MSCI ESG % Coverage
as of Jun 21, 2024
92.83
MSCI ESG Quality Score - Peer Percentile
as of Jun 21, 2024
53.19
Funds in Peer Group
as of Jun 21, 2024
1,051
MSCI Weighted Average Carbon Intensity % Coverage
as of Jun 21, 2024
91.00
All data is from MSCI ESG Fund Ratings as of Jun 21, 2024, based on holdings as of Feb 29, 2024. 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 Jun 28, 2024
0.00%
MSCI - Nuclear Weapons
as of Jun 28, 2024
0.00%
MSCI - Civilian Firearms
as of Jun 28, 2024
0.00%
MSCI - Tobacco
as of Jun 28, 2024
0.00%
MSCI - UN Global Compact Violators
as of Jun 28, 2024
0.00%
MSCI - Thermal Coal
as of Jun 28, 2024
0.00%
MSCI - Oil Sands
as of Jun 28, 2024
0.00%

Business Involvement Coverage
as of Jun 28, 2024
92.95%
Percentage of Fund not covered
as of Jun 28, 2024
7.12%
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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Jun 28, 2024
Name Weight (%)
NVIDIA CORP 9.20
SYNOPSYS INC 3.65
SK HYNIX INC 3.53
ASM INTERNATIONAL NV 3.05
PURE STORAGE INC CLASS A 2.83
Name Weight (%)
INFORMA PLC 2.07
BE SEMICONDUCTOR INDUSTRIES NV 1.93
KLA CORP 1.93
WOLTERS KLUWER NV 1.87
SPOTIFY TECHNOLOGY SA 1.86
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jun 28, 2024

% of Market Value

Type Fund
as of Jun 28, 2024

% of Market Value

Type Fund
Sorry, countries/regions are not available at this time.
as of Jun 28, 2024

% 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
Class S2 Hedged GBP 7.84 0.10 1.29 Jul 11, 2024 7.84 5.28 LU2310089854
Class I4 USD 11.87 0.15 1.28 Jul 11, 2024 11.87 7.93 LU2360107085
I2 EUR 19.65 0.14 0.72 Jul 11, 2024 19.65 13.48 LU1917165075
D2 Hgd SGD 7.11 0.09 1.28 Jul 11, 2024 7.11 4.83 LU2290526321
Class S2 Hedged CHF 7.42 0.09 1.23 Jul 11, 2024 7.42 5.10 LU2310089938
A2 Hgd AUD 10.31 0.13 1.28 Jul 11, 2024 10.31 7.04 LU2465791643
A2 Hgd CHF 7.21 0.10 1.41 Jul 11, 2024 7.21 4.99 LU2310089771
A2 EUR 18.44 0.13 0.71 Jul 11, 2024 18.44 12.74 LU2400291972
A2 Hgd CNH 72.10 0.93 1.31 Jul 11, 2024 72.10 49.44 LU2290526677
I2 USD 21.39 0.28 1.33 Jul 11, 2024 21.39 14.30 LU1861216270
I2 Hgd EUR 22.03 0.29 1.33 Jul 11, 2024 22.03 14.94 LU1917165158
D2 USD 21.08 0.28 1.35 Jul 11, 2024 21.08 14.11 LU1861216197
A2 SEK 209.86 0.98 0.47 Jul 11, 2024 209.86 150.54 LU1861216940
Class SR4 USD 8.35 0.11 1.33 Jul 11, 2024 8.35 5.59 LU2344713255
Class SR2 USD 8.36 0.11 1.33 Jul 11, 2024 8.36 5.59 LU2344713172
D2 Hgd EUR 18.04 0.23 1.29 Jul 11, 2024 18.04 12.26 LU1861216601
Class I4 GBP 9.18 0.05 0.55 Jul 11, 2024 9.18 6.53 LU2344713412
Class SR4 GBP 6.46 0.04 0.62 Jul 11, 2024 6.46 4.60 LU2344713099
I2 GBP 16.55 0.09 0.55 Jul 11, 2024 16.55 11.77 LU2168066202
X2 USD 22.24 0.29 1.32 Jul 11, 2024 22.24 14.80 LU1861216353
Class AI2 EUR 20.71 0.15 0.73 Jul 11, 2024 20.71 14.31 LU1960223847
D2 Hgd GBP 18.96 0.24 1.28 Jul 11, 2024 18.96 12.78 LU1861216866
Class A10 USD 13.21 0.17 1.30 Jul 11, 2024 13.21 9.44 LU2533724949
A4 EUR 6.88 0.04 0.58 Jul 11, 2024 6.88 4.76 LU2398791959
C2 EUR 12.61 0.08 0.64 Jul 11, 2024 12.61 8.79 LU2641782664
Class SR2 Hedged EUR 7.48 0.09 1.22 Jul 11, 2024 7.48 5.08 LU2344713503
Class Z2 USD 21.46 0.29 1.37 Jul 11, 2024 21.46 14.33 LU1861216437
A2 Hgd SGD 18.61 0.24 1.31 Jul 11, 2024 18.61 12.70 LU1861220033
Class SR2 EUR 7.68 0.06 0.79 Jul 11, 2024 7.68 5.27 LU2344713339
E2 Hgd EUR 16.70 0.21 1.27 Jul 11, 2024 16.70 11.46 LU1861216783
A2 Hgd EUR 17.19 0.22 1.30 Jul 11, 2024 17.19 11.75 LU1861216510
A2 Hgd HKD 72.56 0.94 1.31 Jul 11, 2024 72.56 49.20 LU2290526834
D2 Hgd CNH 74.11 0.96 1.31 Jul 11, 2024 74.11 50.54 LU2290526594
Class Z2 Hedged CHF 7.48 0.10 1.36 Jul 11, 2024 7.48 5.13 LU2310090191
A2 Hgd GBP 7.61 0.09 1.20 Jul 11, 2024 7.61 5.16 LU2310089698
A2 Hgd NZD 10.65 0.14 1.33 Jul 11, 2024 10.65 7.19 LU2465791726
A2 USD 20.07 0.26 1.31 Jul 11, 2024 20.07 13.52 LU1861215975
Class S2 Hedged EUR 7.48 0.09 1.22 Jul 11, 2024 7.48 5.08 LU2278361055
Class S2 USD 8.24 0.11 1.35 Jul 11, 2024 8.24 5.51 LU2278360750
E2 EUR 24.37 0.17 0.70 Jul 11, 2024 24.37 16.90 LU1917164938
A4 USD 7.49 0.09 1.22 Jul 11, 2024 7.49 5.05 LU2360107168
D2 GBP 16.30 0.08 0.49 Jul 11, 2024 16.31 11.62 LU2237457416
D2 EUR 19.36 0.14 0.73 Jul 11, 2024 19.36 13.30 LU1917164854

Portfolio Managers

Portfolio Managers

Tony Kim
Head of Technology Investing, Fundamental Active Equity

Tony Kim

Reid Menge
Reid Menge

Literature

Literature