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 Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent.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

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

Record Date Ex-Date Payable Date
View full table
  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
From
30-Sep-2019
To
30-Sep-2020
Total Return (%)

as of Sep 30, 2020

2.01 17.64 3.22 8.12 10.02
Benchmark (%)

as of Sep 30, 2020

1.80 16.26 1.47 5.74 -7.76
  1Y 3Y 5Y 10y Incept.
10.02 7.08 8.06 11.10 8.67
Benchmark (%)

as of Sep 30, 2020

-7.76 -0.34 3.21 6.02 3.95
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
1.22 0.50 6.61 10.02 22.78 47.34 186.45 230.00
Benchmark (%)

as of Sep 30, 2020

-12.75 -1.41 0.10 -7.76 -1.03 17.14 79.50 74.43
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.

Key Facts

Key Facts

Size of Fund (Millions) as of Oct 29, 2020 EUR 1,157.199
12m Trailing Yield -
Number of Holdings as of Sep 30, 2020 52
Base Currency Euro
Fund Inception Date Mar 20, 2003
Share Class Inception Date May 19, 2006
Asset Class Equity
Morningstar Category Europe Large-Cap Growth Equity
Benchmark Index MSCI Europe Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 1.07%
ISIN LU0252965834
Bloomberg Ticker MEREGDE
Annual Management Fee 0.75%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B3K7X24
Bloomberg Benchmark Ticker M7EU
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 100000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of Sep 30, 2020 14.58
3y Beta as of Sep 30, 2020 0.965
5y Volatility - Benchmark as of Sep 30, 2020 13.42
5y Beta as of Sep 30, 2020 0.958

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for BGF European Special Situations Fund, Class D2, as of Sep 30, 2020 rated against 362 Europe Large-Cap Growth Equity Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Jul 5, 2019)

Risk Indicator

Risk Indicator

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Low Yield High Yield

Holdings

Holdings

as of Sep 30, 2020
Name Weight (%)
ASML HOLDING NV 5.08
SAP SE 4.69
NOVO NORDISK A/S 3.54
DSV PANALPINA A/S 3.41
LVMH MOET HENNESSY LOUIS VUITTON SE 3.17
Name Weight (%)
LONZA GROUP AG 3.10
LONDON STOCK EXCHANGE GROUP PLC 3.03
FERRARI NV 2.69
SIKA AG 2.69
UNILEVER PLC 2.55
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
D2 EUR Accumulating 54.80 0.28 0.51 59.05 38.75 - LU0252965834 - -
D2 Hgd USD Accumulating 18.43 0.10 0.55 19.84 12.94 - LU1078072763 - -
A2 Hgd HKD Accumulating 127.48 0.65 0.51 137.28 89.89 - LU1355424745 - -
A2 Hgd GBP Accumulating 16.21 0.09 0.56 17.74 11.50 - LU1023063255 - -
E2 EUR Accumulating 45.31 0.23 0.51 49.25 32.29 - LU0154235443 - -
I2 EUR Accumulating 14.76 0.08 0.54 15.89 10.42 - LU0369584999 - -
X2 USD Accumulating 17.01 0.02 0.12 18.43 11.12 - LU0462856112 - -
A2 Hgd CAD Accumulating 17.12 0.09 0.53 18.66 12.13 - LU1023062521 - -
A2 Hgd AUD Accumulating 17.74 0.09 0.51 19.62 12.64 - LU1023062109 - -
C2 USD Accumulating 46.36 0.04 0.09 50.31 30.88 - LU0331283985 - -
C2 EUR Accumulating 39.68 0.20 0.51 43.36 28.40 - LU0331283803 - -
A2 Hgd USD Accumulating 19.46 0.10 0.52 20.95 13.72 - LU0969580561 - -
X2 EUR Accumulating 14.56 0.08 0.55 15.67 10.23 - LU1003011217 - -
A2 USD Accumulating 57.31 0.05 0.09 62.16 37.88 - LU0171276677 - -
D2 USD Accumulating 64.02 0.05 0.08 69.42 42.12 - LU0827879171 - -
A2 Hgd CNH Accumulating 401.69 2.19 0.55 431.84 282.47 - LU1244156169 - -
A2 EUR Accumulating 49.06 0.25 0.51 53.14 34.85 - LU0154234636 - -
E2 USD Accumulating 52.94 0.05 0.09 57.43 35.10 - LU0171277139 - -

Portfolio Managers

Portfolio Managers

Michael Constantis
Michael Constantis

Literature

Literature