Equity

BGF Global Equity Income 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. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets, failed/delayed delivery of securities or payments to the Fund and sustainability-related risks. 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. Active management of currency exposure through derivatives may make the Fund more sensitive to changes in foreign exchange rates. If the currency exposures against which the Fund is hedged appreciates investors may not benefit from such appreciation. The Fund may seek to exclude Funds which are not subject to ESG-related requirements. 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.

Loading

Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart

Distributions

Ex-Date Total Distribution
View full table

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 0.73 -0.71 2.94 17.05 -13.29 19.60 4.16 15.29 -15.91 13.89
Constraint Benchmark 1 (%) 4.16 -2.36 7.86 23.97 -9.41 26.60 16.25 18.54 -18.36 22.20

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

  1Y 3Y 5Y 10y Incept.
11.48 4.07 5.25 4.08 4.82
Constraint Benchmark 1 (%) 23.15 6.79 10.51 8.37 8.52
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
2.25 1.67 7.23 7.15 11.48 12.71 29.15 49.20 83.26
Constraint Benchmark 1 (%) 4.90 4.29 9.94 11.66 23.15 21.80 64.80 123.49 186.31
  From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
From
31-Dec-2022
To
31-Dec-2023
Total Return (%)

as of Dec 31, 2023

19.60 4.16 15.29 -15.91 13.89
Constraint Benchmark 1 (%)

as of Dec 31, 2023

26.60 16.25 18.54 -18.36 22.20
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 Mar 27, 2024 USD 941,502,114
Share Class Inception Date Apr 19, 2011
Fund Inception Date Nov 12, 2010
Share Class Currency USD
Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI All Country World Index (Net Total Return)
SFDR Classification Article 8
Initial Charge 0.00%
Ongoing Charge 3.04%
ISIN LU0592708423
Annual Management Fee 2.75%
Performance Fee 0.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Equity Income
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGFEIC5
SEDOL B3YYK75

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Feb 29, 2024 47
12m Trailing Yield as of Feb 29, 2024 2.29%
Standard Deviation (3y) as of Feb 29, 2024 14.90%
3y Beta as of Feb 29, 2024 0.858
P/E Ratio as of Feb 29, 2024 22.77
P/B Ratio as of Feb 29, 2024 3.94

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 Mar 21, 2024 AA
MSCI ESG % Coverage as of Mar 21, 2024 99.94
MSCI ESG Quality Score (0-10) as of Mar 21, 2024 7.36
MSCI ESG Quality Score - Peer Percentile as of Mar 21, 2024 56.11
Fund Lipper Global Classification as of Mar 21, 2024 Equity Global Income
Funds in Peer Group as of Mar 21, 2024 483
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Mar 21, 2024 102.24
MSCI Weighted Average Carbon Intensity % Coverage as of Mar 21, 2024 98.12
All data is from MSCI ESG Fund Ratings as of Mar 21, 2024, based on holdings as of Oct 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 Feb 29, 2024 0.00%
MSCI - UN Global Compact Violators as of Feb 29, 2024 0.00%
MSCI - Nuclear Weapons as of Feb 29, 2024 0.00%
MSCI - Thermal Coal as of Feb 29, 2024 0.00%
MSCI - Civilian Firearms as of Feb 29, 2024 0.00%
MSCI - Oil Sands as of Feb 29, 2024 0.00%
MSCI - Tobacco as of Feb 29, 2024 0.00%

Business Involvement Coverage as of Feb 29, 2024 99.68%
Percentage of Fund not covered as of Feb 29, 2024 0.30%
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 2.09%.

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 Feb 29, 2024
Name Weight (%)
MICROSOFT CORP 4.96
NOVO NORDISK CLASS B 2.89
RELX PLC 2.86
TAIWAN SEMICONDUCTOR MANUFACTURING 2.84
UNION PACIFIC CORP 2.75
Name Weight (%)
ASTRAZENECA PLC 2.72
APPLE INC 2.72
NESTLE SA 2.70
LVMH 2.67
ABBVIE INC 2.66
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Feb 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Feb 29, 2024

% of Market Value

Type Fund Benchmark Net
as of Feb 29, 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
C5G USD 12.90 0.00 0.00 Mar 27, 2024 13.06 10.98 LU0592708423
Class SR6 USD 10.86 0.00 0.00 Mar 27, 2024 10.98 9.17 LU2471417829
A5G EUR 10.64 -0.15 -1.39 Mar 22, 2018 11.94 10.64 LU1653088671
C2 USD 18.78 -0.01 -0.05 Mar 27, 2024 18.99 15.84 LU0545039629
A5G USD 15.92 0.00 0.00 Mar 27, 2024 16.11 13.48 LU0553294199
A2 EUR 21.69 0.05 0.23 Mar 27, 2024 21.80 18.60 LU0880975056
D2 Hgd EUR 19.16 -0.01 -0.05 Mar 27, 2024 19.38 16.16 LU0827881409
Class SR2 USD 11.35 0.00 0.00 Mar 27, 2024 11.47 9.48 LU2471417662
A2 USD 23.45 -0.01 -0.04 Mar 27, 2024 23.71 19.68 LU0545039389
D2 Hgd SGD 21.99 0.00 0.00 Mar 27, 2024 22.24 18.53 LU0827881581
D5G Hgd GBP 9.42 0.00 0.00 Mar 27, 2024 9.53 7.97 LU0827881318
A6 Hgd CNY 123.53 -0.04 -0.03 Mar 27, 2024 125.04 105.96 LU1075907227
D5G GBP 13.77 0.01 0.07 Mar 27, 2024 13.83 12.08 LU0827881748
A4G EUR 14.98 0.03 0.20 Mar 27, 2024 15.06 12.85 LU0739721834
D2 Hgd CHF 16.70 -0.01 -0.06 Mar 27, 2024 16.90 14.20 LU0862987244
A6 USD 16.14 0.00 0.00 Mar 27, 2024 16.32 13.67 LU0738911758
D2 Hgd PLN 26.15 0.00 0.00 Mar 27, 2024 26.44 21.95 LU0827881151
D5G Hgd EUR 13.31 0.00 0.00 Mar 27, 2024 13.47 11.33 LU0827881664
D5G USD 17.36 0.00 0.00 Mar 27, 2024 17.56 14.65 LU0827881235
A2 Hgd PLN 24.00 0.00 0.00 Mar 27, 2024 24.27 20.20 LU0654592483
D4G EUR 17.62 0.04 0.23 Mar 27, 2024 17.71 15.07 LU0938162426
E2 EUR 20.32 0.04 0.20 Mar 27, 2024 20.43 17.47 LU0628613043
I2 EUR 16.54 0.04 0.24 Mar 27, 2024 16.62 14.13 LU2533723461
A2 Hgd EUR 17.58 -0.01 -0.06 Mar 27, 2024 17.78 14.87 LU0625451603
E5G Hgd EUR 11.15 -0.01 -0.09 Mar 27, 2024 11.30 9.54 LU0628613126
E5G USD 14.95 0.00 0.00 Mar 27, 2024 15.13 12.69 LU0579999342
X2 USD 29.68 0.00 0.00 Mar 27, 2024 30.00 24.72 LU0545040635
D2 USD 25.92 0.00 0.00 Mar 27, 2024 26.20 21.67 LU0545039975
Class AI5G Hedged EUR 10.54 -0.01 -0.09 Mar 27, 2024 10.68 9.00 LU1960223177
Class AI2 Hedged EUR 11.96 0.00 0.00 Mar 27, 2024 12.09 10.11 LU1960223094
A5G Hgd EUR 12.21 0.00 0.00 Mar 27, 2024 12.36 10.42 LU0625451512
A8 Hgd ZAR 130.60 0.02 0.02 Mar 27, 2024 132.02 110.37 LU1023055079
A6 Hgd HKD 119.63 -0.03 -0.03 Mar 27, 2024 120.96 101.75 LU1003077747
A2 Hgd CHF 13.01 0.00 0.00 Mar 27, 2024 13.16 11.09 LU1115429885
Class AI2 EUR 14.04 0.03 0.21 Mar 27, 2024 14.11 12.05 LU1960222955
A5G GBP 12.60 0.01 0.08 Mar 27, 2024 12.67 11.10 LU0557294096
I2 USD 17.88 -0.01 -0.06 Mar 27, 2024 18.08 14.94 LU0545040395
A5G Hgd SGD 14.22 0.00 0.00 Mar 27, 2024 14.40 12.13 LU0661504455
Class A10 USD 11.58 -0.01 -0.09 Mar 27, 2024 11.71 10.01 LU2533723628
A8 Hgd CNH 123.56 -0.05 -0.04 Mar 27, 2024 125.07 105.15 LU1220226846
A2 Hgd SGD 20.19 0.00 0.00 Mar 27, 2024 20.42 17.06 LU0661495795
A6 Hgd SGD 12.08 0.00 0.00 Mar 27, 2024 12.22 10.32 LU0949170772
A8 Hgd AUD 12.18 -0.01 -0.08 Mar 27, 2024 12.32 10.33 LU0949170699
E2 Hgd EUR 11.37 -0.01 -0.09 Mar 27, 2024 11.50 9.64 LU1786037793
A4G Hgd EUR 11.27 0.00 0.00 Mar 27, 2024 11.40 9.53 LU1529944511
E2 USD 21.98 0.00 0.00 Mar 27, 2024 22.22 18.48 LU0545040122

Portfolio Managers

Portfolio Managers

Olivia Treharne
Olivia Treharne
Molly Greenen
Molly Greenen

Literature

Literature