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 Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent.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
31-Mar-2015
To
31-Mar-2016
From
31-Mar-2016
To
31-Mar-2017
From
31-Mar-2017
To
31-Mar-2018
From
31-Mar-2018
To
31-Mar-2019
From
31-Mar-2019
To
31-Mar-2020
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of Mar 31, 2020

-3.82 11.41 7.66 8.17 -1.04
Benchmark (%) Index: MSCI Europe Index<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 Mar 31, 2020

-13.71 16.95 -0.43 5.45 -13.53
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.

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 May 28, 2020 EUR 1,116.059
Base Currency Euro
Fund Inception Date Mar 20, 2003
Share Class Inception Date Jun 18, 2014
Asset Class Equity
Morningstar Category Other Equity
Benchmark Index MSCI Europe Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU1078072763
Bloomberg Ticker BESD2UH
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BNCBRB1
Bloomberg Benchmark Ticker M7EU
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 100000
Minimum Subsequent Investment USD 1000
Use of Income Accumulating

Ratings

Risk Indicator

Risk Indicator

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3
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7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Apr 30, 2020
Name Weight (%)
ASML HOLDING NV 4.75
SAP SE 4.60
NOVO NORDISK A/S 4.12
LVMH MOET HENNESSY LOUIS VUITTON SE 3.28
LONDON STOCK EXCHANGE GROUP PLC 3.18
Name Weight (%)
FERRARI NV 2.85
DSV PANALPINA A/S 2.77
LONZA GROUP AG 2.75
UNILEVER PLC 2.71
RELX PLC 2.67
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 Hgd USD Accumulating 17.38 0.38 2.24 19.71 12.94 - LU1078072763 - -
A2 Hgd CNH Accumulating 376.79 8.33 2.26 430.81 282.47 - LU1244156169 - -
X2 USD Accumulating 15.14 0.39 2.64 16.85 11.12 - LU0462856112 - -
E2 EUR Accumulating 43.11 0.92 2.18 49.25 32.29 - LU0154235443 - -
A2 Hgd USD Accumulating 18.40 0.40 2.22 20.91 13.72 - LU0969580561 - -
A2 Hgd GBP Accumulating 15.34 0.33 2.20 17.74 11.50 - LU1023063255 - -
D2 USD Accumulating 57.25 1.48 2.65 63.91 42.12 - LU0827879171 - -
X2 EUR Accumulating 13.72 0.29 2.16 15.58 10.23 - LU1003011217 - -
A2 USD Accumulating 51.41 1.32 2.64 57.54 37.88 - LU0171276677 - -
C2 EUR Accumulating 37.87 0.80 2.16 43.36 28.40 - LU0331283803 - -
A2 Hgd HKD Accumulating 120.53 2.63 2.23 137.11 89.89 - LU1355424745 - -
A2 EUR Accumulating 46.57 0.99 2.17 53.14 34.85 - LU0154234636 - -
E2 USD Accumulating 47.58 1.22 2.63 53.35 35.10 - LU0171277139 - -
A2 Hgd CAD Accumulating 16.22 0.35 2.21 18.66 12.13 - LU1023062521 - -
D2 EUR Accumulating 51.86 1.10 2.17 59.05 38.75 - LU0252965834 - -
I2 EUR Accumulating 13.95 0.30 2.20 15.87 10.42 - LU0369584999 - -
A2 Hgd AUD Accumulating 16.82 0.35 2.13 19.62 12.64 - LU1023062109 - -
C2 USD Accumulating 41.80 1.07 2.63 46.99 30.88 - LU0331283985 - -

Portfolio Managers

Portfolio Managers

Michael Constantis
Michael Constantis

Literature

Literature