Equity

BGF Sustainable Energy 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.

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Performance

Performance

Growth of Hypothetical 10,000

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Distributions

Ex-Date Total Distribution
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  2019 2020 2021 2022 2023
Total Return (%) -17.57 13.99

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

  1Y 3Y 5Y 10y Incept.
-3.44 - - - -1.27
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-3.44 -4.12 -0.93 -3.44 -3.44 - - - -3.73
  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

- - - 30.15 -3.44
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 USD, 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 23, 2024
USD 5,403,638,356
Fund Inception Date
Mar 15, 2001
Base Currency
USD
SFDR Classification
Article 9
Ongoing Charge
0.96%
Annual Management Fee
1.00%
Minimum Initial Investment
USD 10000000
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BMB5ZT1
Share Class Inception Date
Jul 7, 2021
Share Class Currency
USD
Asset Class
Equity
Initial Charge
0.00%
ISIN
LU2360107754
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGFSEI4

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jun 28, 2024
52
Standard Deviation (3y)
as of -
-
P/B Ratio
as of Jun 28, 2024
2.58
12m Trailing Yield
as of Jun 30, 2024
0.60%
P/E Ratio
as of Jun 28, 2024
21.09

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 Jul 21, 2024
AA
MSCI ESG Quality Score (0-10)
as of Jul 21, 2024
7.94
Fund Lipper Global Classification
as of Jul 21, 2024
Equity Theme - Alternative Energy
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Jul 21, 2024
345.38
MSCI ESG % Coverage
as of Jul 21, 2024
98.52
MSCI ESG Quality Score - Peer Percentile
as of Jul 21, 2024
96.15
Funds in Peer Group
as of Jul 21, 2024
260
MSCI Weighted Average Carbon Intensity % Coverage
as of Jul 21, 2024
97.79
All data is from MSCI ESG Fund Ratings as of Jul 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
98.81%
Percentage of Fund not covered
as of Jun 28, 2024
1.20%
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 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

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective May 31, 2024)

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 (%)
NEXTERA ENERGY INC 3.38
RWE AG 3.37
ANALOG DEVICES INC 3.35
RENESAS ELECTRONICS CORP 3.31
GE VERNOVA INC 3.29
Name Weight (%)
ON SEMICONDUCTOR CORPORATION 3.16
VESTAS WIND SYSTEMS A/S 3.05
SSE PLC 2.70
NATIONAL GRID PLC 2.68
CADENCE DESIGN SYSTEMS INC 2.66
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 I4 USD 9.77 0.01 0.10 Jul 23, 2024 10.21 8.02 LU2360107754
X2 JPY 3,692.00 -15.00 -0.40 Jul 23, 2024 3,850.00 2,890.00 LU2263536406
A2 Hgd NZD 9.96 0.01 0.10 Jul 23, 2024 10.55 8.27 LU2298322046
A2 Hgd SGD 17.00 0.02 0.12 Jul 23, 2024 18.22 14.27 LU1978683503
D2 Hgd SGD 8.86 0.01 0.11 Jul 23, 2024 9.43 7.39 LU2419774711
Class S2 EUR 17.37 0.07 0.40 Jul 23, 2024 17.95 14.58 LU2624962101
Class S4 EUR 9.88 0.04 0.41 Jul 23, 2024 10.21 8.30 LU2624962366
Class A10 USD 11.21 0.01 0.09 Jul 23, 2024 12.74 9.81 LU2533724782
A2 Hgd GBP 9.85 0.01 0.10 Jul 23, 2024 10.45 8.19 LU2298321824
Class X10 USD 10.51 0.01 0.10 Jul 23, 2024 11.72 9.06 LU2471418470
A2 Hgd EUR 14.80 0.02 0.14 Jul 23, 2024 15.89 12.43 LU1822773807
A4 EUR 15.36 0.06 0.39 Jul 23, 2024 15.91 13.00 LU0408221868
A2 Hgd CNH 100.47 0.08 0.08 Jul 23, 2024 108.34 84.80 LU2298322392
D4 EUR 16.07 0.06 0.37 Jul 23, 2024 16.62 13.51 LU0827885574
I2 EUR 17.95 0.07 0.39 Jul 23, 2024 18.56 15.07 LU0368234703
A2 USD 16.85 0.01 0.06 Jul 23, 2024 17.69 13.94 LU0124384867
A2 Hgd AUD 9.67 0.01 0.10 Jul 23, 2024 10.38 8.11 LU2298321584
E2 Hgd EUR 9.30 0.01 0.11 Jul 23, 2024 10.04 7.84 LU2298322632
A2 Hgd CAD 10.02 0.01 0.10 Jul 23, 2024 10.62 8.35 LU2298321741
Class S2 USD 18.84 0.02 0.11 Jul 23, 2024 19.59 15.47 LU1706558779
C2 USD 12.71 0.02 0.16 Jul 23, 2024 13.50 10.60 LU0147411861
A4 USD 16.71 0.01 0.06 Jul 23, 2024 17.54 13.82 LU0724618433
E2 EUR 13.85 0.06 0.44 Jul 23, 2024 14.39 11.75 LU0171290074
D2 EUR 17.88 0.07 0.39 Jul 23, 2024 18.49 15.04 LU0252964944
C2 EUR 11.71 0.04 0.34 Jul 23, 2024 12.26 10.00 LU0331286574
X2 Hgd EUR 17.09 0.02 0.12 Jul 23, 2024 18.02 14.16 LU1686870871
D4 GBP 13.72 0.01 0.07 Jul 23, 2024 14.42 11.97 LU0435534705
A2 EUR 15.53 0.05 0.32 Jul 23, 2024 16.08 13.14 LU0171289902
Class AI2 EUR 18.02 0.07 0.39 Jul 23, 2024 18.66 15.24 LU1978682794
X2 USD 23.66 0.02 0.08 Jul 23, 2024 24.44 19.29 LU0414947514
I5 EUR 10.63 0.04 0.38 Jul 23, 2024 11.04 8.96 LU2452424331
E2 USD 15.02 0.01 0.07 Jul 23, 2024 15.84 12.47 LU0124386052
D2 USD 19.40 0.02 0.10 Jul 23, 2024 20.21 15.95 LU0252969661
I2 USD 19.48 0.02 0.10 Jul 23, 2024 20.24 15.98 LU0534476519
A4 GBP 12.94 0.02 0.15 Jul 23, 2024 13.65 11.35 LU0204063720
A2 Hgd HKD 100.90 0.10 0.10 Jul 23, 2024 106.98 84.09 LU2298322129

Portfolio Managers

Portfolio Managers

Alastair Bishop
Alastair Bishop
Charles Lilford
Charles Lilford

Literature

Literature