Equity

BGF Next Generation Technology 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. Investments in the technology securities are subject to absence or loss of intellectual property protections, rapid changes in technology, government regulation and competition. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. 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. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. 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.

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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

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

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 46.18 112.62 1.80 -52.15 32.18

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

  1Y 3Y 5Y 10y Incept.
30.33 -13.24 12.30 - 10.22
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
8.46 7.43 15.11 14.57 30.33 -34.69 78.64 - 70.60
  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

46.18 112.62 1.80 -52.15 32.18
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 GBP, 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 28, 2024 USD 2,756,876,408
Share Class Inception Date Sep 4, 2018
Fund Inception Date Sep 4, 2018
Share Class Currency GBP
Base Currency USD
Asset Class Equity
SFDR Classification Article 8
Initial Charge 5.00%
Ongoing Charge 0.99%
ISIN LU1861216866
Annual Management Fee 0.68%
Performance Fee 0.00%
Minimum Initial Investment GBP 100000
Minimum Subsequent Investment GBP 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGNHD2G
SEDOL BG094W8

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Feb 29, 2024 116
Standard Deviation (3y) as of Feb 29, 2024 28.55%
P/E Ratio as of Feb 29, 2024 45.31
P/B Ratio as of Feb 29, 2024 6.66

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 A
MSCI ESG % Coverage as of Mar 21, 2024 92.98
MSCI ESG Quality Score (0-10) as of Mar 21, 2024 6.54
MSCI ESG Quality Score - Peer Percentile as of Mar 21, 2024 50.34
Fund Lipper Global Classification as of Mar 21, 2024 Equity Sector Information Tech
Funds in Peer Group as of Mar 21, 2024 1,021
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Mar 21, 2024 31.14
MSCI Weighted Average Carbon Intensity % Coverage as of Mar 21, 2024 92.08
All data is from MSCI ESG Fund Ratings as of Mar 21, 2024, based on holdings as of Nov 30, 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 94.48%
Percentage of Fund not covered as of Feb 29, 2024 5.43%
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 0.00%.

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 (%)
NVIDIA CORP 6.80
SYNOPSYS INC 3.49
ALTIUM LTD 2.56
ASM INTERNATIONAL NV 2.51
PURE STORAGE INC CLASS A 2.43
Name Weight (%)
SK HYNIX INC 2.37
MONGODB INC CLASS A 2.28
BE SEMICONDUCTOR INDUSTRIES NV 2.23
PALO ALTO NETWORKS INC 2.08
INFORMA PLC 1.89
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 29, 2024

% of Market Value

Type Fund
as of Feb 29, 2024

% of Market Value

Type Fund
Sorry, countries/regions are not available at this time.
as of Feb 29, 2024

% of Market Value

Type Fund
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
D2 Hgd GBP 17.20 0.04 0.23 Mar 28, 2024 17.79 12.43 LU1861216866
Class I4 USD 10.72 0.02 0.19 Mar 28, 2024 11.10 7.68 LU2360107085
I2 Hgd EUR 20.03 0.04 0.20 Mar 28, 2024 20.74 14.59 LU1917165158
D2 EUR 17.64 0.06 0.34 Mar 28, 2024 18.00 12.42 LU1917164854
I2 EUR 17.90 0.07 0.39 Mar 28, 2024 18.25 12.56 LU1917165075
I2 GBP 15.30 0.03 0.20 Mar 28, 2024 15.53 10.99 LU2168066202
A2 Hgd GBP 6.92 0.01 0.14 Mar 28, 2024 7.16 5.04 LU2310089698
A2 Hgd AUD 9.43 0.02 0.21 Mar 28, 2024 9.77 6.91 LU2465791643
Class S2 Hedged CHF 6.80 0.02 0.29 Mar 28, 2024 7.05 5.04 LU2310089938
A2 Hgd NZD 9.68 0.02 0.21 Mar 28, 2024 10.02 7.02 LU2465791726
A2 Hgd CHF 6.61 0.01 0.15 Mar 28, 2024 6.86 4.94 LU2310089771
D2 Hgd CNH 67.45 0.15 0.22 Mar 28, 2024 69.96 49.52 LU2290526594
Class S2 USD 7.45 0.02 0.27 Mar 28, 2024 7.70 5.34 LU2278360750
Class S2 Hedged EUR 6.81 0.02 0.29 Mar 28, 2024 7.05 4.97 LU2278361055
D2 Hgd SGD 6.47 0.01 0.15 Mar 28, 2024 6.70 4.72 LU2290526321
I2 USD 19.33 0.05 0.26 Mar 28, 2024 20.00 13.84 LU1861216270
D2 Hgd EUR 16.42 0.03 0.18 Mar 28, 2024 17.00 11.99 LU1861216601
Class SR2 EUR 6.99 0.02 0.29 Mar 28, 2024 7.13 4.92 LU2344713339
Class SR2 Hedged EUR 6.81 0.01 0.15 Mar 28, 2024 7.05 4.97 LU2344713503
Class SR4 GBP 5.97 0.01 0.17 Mar 28, 2024 6.06 4.30 LU2344713099
X2 USD 20.06 0.05 0.25 Mar 28, 2024 20.75 14.27 LU1861216353
Class A10 USD 12.27 -0.07 -0.57 Mar 28, 2024 12.81 9.44 LU2533724949
A4 EUR 6.29 0.02 0.32 Mar 28, 2024 6.42 4.46 LU2398791959
D2 GBP 15.08 0.02 0.13 Mar 28, 2024 15.31 10.86 LU2237457416
A2 Hgd SGD 16.98 0.04 0.24 Mar 28, 2024 17.59 12.46 LU1861220033
A4 USD 6.79 0.01 0.15 Mar 28, 2024 7.03 4.91 LU2360107168
E2 EUR 22.30 0.09 0.41 Mar 28, 2024 22.76 15.88 LU1917164938
Class AI2 EUR 18.92 0.07 0.37 Mar 28, 2024 19.30 13.41 LU1960223847
Class I4 GBP 8.49 0.02 0.24 Mar 28, 2024 8.62 6.10 LU2344713412
A2 Hgd EUR 15.68 0.03 0.19 Mar 28, 2024 16.24 11.53 LU1861216510
Class Z2 USD 19.38 0.04 0.21 Mar 28, 2024 20.05 13.87 LU1861216437
Class SR2 USD 7.55 0.01 0.13 Mar 28, 2024 7.82 5.42 LU2344713172
C2 EUR 11.57 0.05 0.43 Mar 28, 2024 11.81 8.79 LU2641782664
Class SR4 USD 7.55 0.02 0.27 Mar 28, 2024 7.81 5.41 LU2344713255
A2 Hgd CNH 65.77 0.14 0.21 Mar 28, 2024 68.25 48.64 LU2290526677
D2 USD 19.06 0.05 0.26 Mar 28, 2024 19.72 13.68 LU1861216197
A2 SEK 194.10 1.48 0.77 Mar 28, 2024 194.41 134.24 LU1861216940
E2 Hgd EUR 15.26 0.03 0.20 Mar 28, 2024 15.81 11.27 LU1861216783
A2 USD 18.19 0.04 0.22 Mar 28, 2024 18.83 13.15 LU1861215975
Class Z2 Hedged CHF 6.84 0.01 0.15 Mar 28, 2024 7.09 5.06 LU2310090191
A2 Hgd HKD 66.01 0.15 0.23 Mar 28, 2024 68.39 48.11 LU2290526834
A2 EUR 16.84 0.06 0.36 Mar 28, 2024 17.19 11.94 LU2400291972
Class S2 Hedged GBP 7.11 0.02 0.28 Mar 28, 2024 7.35 5.13 LU2310089854

Portfolio Managers

Portfolio Managers

Tony Kim
Head of Technology Investing, Fundamental Active Equity

Tony Kim

Reid Menge
Reid Menge

Literature

Literature