Equity

BGF Japan Flexible Equity 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, political factors, 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

Reinvestments

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

  2019 2020 2021 2022 2023
Total Return (%) 18.97
Constraint Benchmark 1 (%) 16.24

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

  1Y 3Y 5Y 10y Incept.
25.41 - - - 15.90
Constraint Benchmark 1 (%) 16.50 - - - 10.53
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
15.46 1.33 3.40 18.91 25.41 - - - 30.91
Constraint Benchmark 1 (%) 8.91 -0.19 -0.98 12.27 16.50 - - - 20.04
  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

- - - - 31.00
Constraint Benchmark 1 (%)

as of Mar 31, 2024

- - - - 26.53
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 JPY.

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 Jun 14, 2024
JPY 90,060,032,056
Fund Inception Date
Feb 18, 2005
Base Currency
JPY
Constraint Benchmark 1
MSCI Japan Net in EUR Performance Index
Initial Charge
0.00%
ISIN
LU2501015387
Performance Fee
0.00%
Minimum Subsequent Investment
EUR 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGFI2ER
Share Class Inception Date
Aug 3, 2022
Share Class Currency
EUR
Asset Class
Equity
SFDR Classification
Article 8
Ongoing Charge
0.80%
Annual Management Fee
0.75%
Minimum Initial Investment
EUR 10000000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BNSQ4H5

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of May 31, 2024
53
P/E Ratio
as of May 31, 2024
17.11
Standard Deviation (3y)
as of -
-
P/B Ratio
as of May 31, 2024
1.52

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 Quality Score (0-10)
as of May 19, 2024
6.97
Fund Lipper Global Classification
as of May 19, 2024
Equity Japan
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of May 19, 2024
38.91
MSCI ESG % Coverage
as of May 19, 2024
100.00
MSCI ESG Quality Score - Peer Percentile
as of May 19, 2024
34.59
Funds in Peer Group
as of May 19, 2024
873
MSCI Weighted Average Carbon Intensity % Coverage
as of May 19, 2024
96.05
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 May 31, 2024
0.00%
MSCI - Nuclear Weapons
as of May 31, 2024
0.00%
MSCI - Civilian Firearms
as of May 31, 2024
0.00%
MSCI - Tobacco
as of May 31, 2024
0.00%
MSCI - UN Global Compact Violators
as of May 31, 2024
0.00%
MSCI - Thermal Coal
as of May 31, 2024
0.00%
MSCI - Oil Sands
as of May 31, 2024
0.00%

Business Involvement Coverage
as of May 31, 2024
99.54%
Percentage of Fund not covered
as of May 31, 2024
0.00%
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 5.52% 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 May 31, 2024
Name Weight (%)
SUMITOMO MITSUI FINANCIAL GROUP INC 4.15
RECRUIT HOLDINGS CO LTD 3.55
HITACHI LTD 3.39
SONY GROUP CORP 3.36
TOKIO MARINE HOLDINGS INC 3.11
Name Weight (%)
HONDA MOTOR CO LTD 3.02
SHIN-ETSU CHEMICAL CO LTD 3.01
NINTENDO CO LTD 2.99
MITSUI & CO LTD 2.84
TOKYO ELECTRON LTD 2.74
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 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
I2 EUR 16.81 0.23 1.39 Jun 14, 2024 17.02 13.26 LU2501015387
Class A10 Hedged HKD 117.80 0.39 0.33 Jun 14, 2024 120.05 100.00 LU2728923009
X2 Hgd EUR 24.13 0.08 0.33 Jun 14, 2024 24.57 17.28 LU2004776857
E2 Hgd EUR 17.10 0.05 0.29 Jun 14, 2024 17.43 12.50 LU0277197835
D2 Hgd EUR 20.32 0.06 0.30 Jun 14, 2024 20.71 14.69 LU0827883793
C2 JPY 2,388.00 7.00 0.29 Jun 14, 2024 2,438.00 1,814.00 LU0249411082
Class X2 GBP GBP 19.58 0.22 1.14 Jun 14, 2024 20.14 15.57 LU1967588366
E2 USD 17.61 0.04 0.23 Jun 14, 2024 18.17 14.15 LU0212924947
X2 JPY 3,899.00 12.00 0.31 Jun 14, 2024 3,977.00 2,881.00 LU0497860428
I2 JPY 2,821.00 9.00 0.32 Jun 14, 2024 2,878.00 2,099.00 LU1495982941
A2 Hgd USD 33.29 0.11 0.33 Jun 14, 2024 33.91 23.81 LU0940328577
A2 USD 19.30 0.05 0.26 Jun 14, 2024 19.92 15.46 LU0212924517
Class A10 Hedged USD 11.83 0.04 0.34 Jun 14, 2024 12.05 10.00 LU2728923181
D2 USD 21.91 0.05 0.23 Jun 14, 2024 22.61 17.47 LU0827883520
A4 GBP 14.98 0.17 1.15 Jun 14, 2024 15.47 12.11 LU0236176334
A2 JPY 3,036.00 10.00 0.33 Jun 14, 2024 3,098.00 2,280.00 LU0249410860
D2 EUR 20.54 0.28 1.38 Jun 14, 2024 20.80 16.24 LU0827883447
A2 EUR 18.09 0.24 1.34 Jun 14, 2024 18.35 14.39 LU0212924608
C2 EUR 14.23 0.19 1.35 Jun 14, 2024 14.48 11.44 LU0212925241
D4 GBP 15.37 0.18 1.18 Jun 14, 2024 15.85 12.43 LU0827883363
A2 Hgd EUR 18.60 0.05 0.27 Jun 14, 2024 18.96 13.54 LU0255399239
E2 EUR 16.51 0.23 1.41 Jun 14, 2024 16.76 13.18 LU0212925324
C2 USD 15.18 0.04 0.26 Jun 14, 2024 15.67 12.26 LU0212924863
E2 JPY 2,770.00 9.00 0.33 Jun 14, 2024 2,827.00 2,089.00 LU0249411165

Portfolio Managers

Portfolio Managers

Rie Shigekawa
Rie Shigekawa

Literature

Literature