Equity

BGF European Special Situations Fund

Overview

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 Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent.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
31-Dec-2013
To
31-Dec-2014
From
31-Dec-2014
To
31-Dec-2015
From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of Dec 31, 2018

-4.29 14.93 -8.40 35.54 -16.60
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 Dec 31, 2018

-6.75 -2.84 -0.40 25.51 -14.86
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

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

Key Facts

Key Facts

Size of Fund (Millions) as of Mar 22, 2019 EUR 1,133.538
Base Currency Euro
Fund Inception Date Oct 14, 2002
Share Class Inception Date Oct 23, 2013
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 LU0462856112
Bloomberg Ticker BGEUGX2
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL B5B87Y0
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 10000000
Minimum Subsequent Investment -
Use of Income Accumulating

Ratings

Ratings

Morningstar Analyst Rating

Morningstar Analyst Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Jul 6, 2015)

Risk Indicator

Risk Indicator

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Low Yield High Yield

Holdings

Holdings

as of Feb 28, 2019
Name Weight (%)
SAP SE 4.18
SAFRAN SA 3.88
ASML HOLDING NV 3.67
NOVO NORDISK A/S 3.57
LVMH MOET HENNESSY LOUIS VUITTON SE 3.09
Name Weight (%)
UNILEVER PLC 2.83
RELX PLC 2.75
DIAGEO PLC 2.66
FERRARI NV 2.64
DEUTSCHE WOHNEN SE 2.40
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
X2 USD Accumulating 13.73 -0.22 -1.58 14.84 11.65 - LU0462856112 - -
E2 USD Accumulating 44.32 -0.70 -1.55 48.85 37.81 - LU0171277139 - -
A2 Hgd HKD Accumulating 106.56 -0.79 -0.74 110.98 89.20 - LU1355424745 - -
I2 EUR Accumulating 12.49 -0.09 -0.72 13.11 10.48 - LU0369584999 - -
D2 Hgd USD Accumulating 15.17 -0.12 -0.78 15.59 12.64 - LU1078072763 - -
D2 EUR Accumulating 46.58 -0.35 -0.75 48.99 39.10 - LU0252965834 - -
A2 EUR Accumulating 42.20 -0.32 -0.75 44.65 35.49 - LU0154234636 - -
A2 Hgd CNH Accumulating 333.37 -2.48 -0.74 343.57 278.76 - LU1244156169 - -
A2 Hgd USD Accumulating 16.21 -0.12 -0.73 16.75 13.53 - LU0969580561 - -
A2 USD Accumulating 47.60 -0.75 -1.55 52.23 40.56 - LU0171276677 - -
X2 EUR Accumulating 12.18 -0.09 -0.73 12.71 10.20 - LU1003011217 - -
E2 EUR Accumulating 39.30 -0.29 -0.73 41.73 33.08 - LU0154235443 - -
D2 USD Accumulating 52.53 -0.83 -1.56 57.28 44.68 - LU0827879171 - -
A2 Hgd GBP Accumulating 14.02 -0.11 -0.78 14.76 11.79 - LU1023063255 - -
C2 EUR Accumulating 34.83 -0.27 -0.77 37.20 29.37 - LU0331283803 - -
C2 USD Accumulating 39.28 -0.62 -1.55 43.58 33.57 - LU0331283985 - -
A2 Hgd AUD Accumulating 15.39 -0.12 -0.77 16.02 12.86 - LU1023062109 - -
A2 Hgd CAD Accumulating 14.57 -0.11 -0.75 15.19 12.19 - LU1023062521 - -

Portfolio Managers

Portfolio Managers

Michael Constantis
Michael Constantis

Literature

Literature