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Equity

BGF European Special Situations Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The Fund utilises derivatives as part of its investment strategy. Compared to a fund which only invests in traditional instruments such as stocks and bonds, derivatives are potentially subject to a higher level of risk and volatility. The strategies utilised by the Fund involve the use of derivatives to facilitate certain investment management techniques including the establishment of both ‘long’ and ‘synthetic short’ positions and creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Fund. The Fund may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of the fund.
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Performance

Performance

  • Returns

  From
30-Sep-2014
To
30-Sep-2015
From
30-Sep-2015
To
30-Sep-2016
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of Sep 30, 2019

5.89 0.20 21.36 -0.67 -0.27
Benchmark (%) Index: MSCI Europe Index (Net Total Return USD)<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

as of Sep 30, 2019

-9.33 2.49 22.30 -0.30 -0.75
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.

Growth of Hypothetical 10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Performance chart data not available for display.
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Reinvestments

Record Date Ex-Date Payable Date
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Key Facts

Key Facts

Size of Fund (Millions) as of Dec 5, 2019 EUR 1,216.824
Base Currency Euro
Fund Inception Date Mar 20, 2003
Share Class Inception Date Apr 24, 2003
Asset Class Equity
Morningstar Category Europe Large-Cap Growth Equity
Benchmark Index MSCI Europe Index (Net Total Return USD)
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU0331283985
Bloomberg Ticker MLEUURC
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL 7453168
Bloomberg Benchmark Ticker MSEGRERUSD
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5000
Minimum Subsequent Investment -
Use of Income Accumulating

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for BGF European Special Situations Fund, Class C2, as of Mar 31, 2012 rated against 113 Europe Large-Cap Growth Equity Funds.

Risk Indicator

Risk Indicator

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7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Oct 31, 2019
Name Weight (%)
SAP SE 4.75
ASML HOLDING NV 4.48
SAFRAN SA 3.56
LVMH MOET HENNESSY LOUIS VUITTON SE 3.30
NOVO NORDISK A/S 3.22
Name Weight (%)
FERRARI NV 2.88
DSV PANALPINA A/S 2.84
LONDON STOCK EXCHANGE GROUP PLC 2.83
VINCI SA 2.69
UNILEVER PLC 2.63
Holdings subject to change

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
C2 USD Accumulating 44.24 0.03 0.07 44.44 33.57 - LU0331283985 - -
X2 USD Accumulating 15.80 0.01 0.06 15.86 11.65 - LU0462856112 - -
E2 EUR Accumulating 45.20 0.06 0.13 45.82 33.08 - LU0154235443 - -
A2 Hgd AUD Accumulating 17.94 0.03 0.17 18.18 12.86 - LU1023062109 - -
X2 EUR Accumulating 14.23 0.02 0.14 14.42 10.20 - LU1003011217 - -
E2 USD Accumulating 50.18 0.03 0.06 50.40 37.81 - LU0171277139 - -
A2 EUR Accumulating 48.71 0.06 0.12 49.38 35.49 - LU0154234636 - -
A2 Hgd GBP Accumulating 16.24 0.03 0.19 16.46 11.79 - LU1023063255 - -
A2 USD Accumulating 54.08 0.04 0.07 54.31 40.56 - LU0171276677 - -
A2 Hgd CAD Accumulating 17.03 0.03 0.18 17.26 12.19 - LU1023062521 - -
A2 Hgd CNH Accumulating 392.60 0.66 0.17 397.70 278.76 - LU1244156169 - -
C2 EUR Accumulating 39.85 0.05 0.13 40.41 29.37 - LU0331283803 - -
D2 EUR Accumulating 54.05 0.07 0.13 54.78 39.10 - LU0252965834 - -
A2 Hgd HKD Accumulating 125.06 0.20 0.16 126.69 89.20 - LU1355424745 - -
D2 USD Accumulating 60.01 0.04 0.07 60.25 44.68 - LU0827879171 - -
I2 EUR Accumulating 14.52 0.02 0.14 14.72 10.48 - LU0369584999 - -
D2 Hgd USD Accumulating 17.95 0.03 0.17 18.19 12.64 - LU1078072763 - -
A2 Hgd USD Accumulating 19.08 0.03 0.16 19.33 13.53 - LU0969580561 - -

Portfolio Managers

Portfolio Managers

Michael Constantis
Michael Constantis

Literature

Literature