Fixed Income

BGF Euro Bond 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.

Please note the Fund-specific risks under the relevant section in Disclaimer.

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

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Performance

Performance

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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 30-Sep-2020

6.54 -1.19 0.21 9.08 1.10
Benchmark (%)

as of 30-Sep-2020

6.45 -2.32 0.10 9.40 0.46
  1y 3y 5y 10y Incept.
2.60 3.39 3.03 - 5.05
Benchmark (%)

as of 31-Oct-2020

2.25 3.18 2.70 - 4.48
  YTD 1m 3m 1y 3y 5y 10y Incept.
3.95 0.77 1.35 2.60 10.50 16.11 - 57.80
Benchmark (%)

as of 31-Oct-2020

3.65 0.84 1.32 2.25 9.85 14.24 - 50.03
  2015 2016 2017 2018 2019
Total Return (%) 2.03 3.61 1.57 -0.14 6.53
Benchmark (%) 1.00 3.31 0.67 0.42 6.00

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in EUR, hedged Share Class Benchmark performance is displayed in EUR.

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

Size of Fund (Millions) as of 23-Nov-2020 EUR 5,137.92
12m Trailing Yield -
Number of Holdings as of 30-Oct-2020 865
Base Currency EUR
Fund Launch Date 31-Mar-1994
Share Class launch date 26-Jul-2011
Asset Class Fixed Income
Morningstar Category EUR Diversified Bond
Benchmark Index Bloomberg Barclays Euro-Aggregate 500mm+ Bond Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 0.46%
ISIN LU0368229703
Bloomberg Ticker BGEBEI2
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL B39TXD2
Bloomberg Benchmark Ticker LEHEUR500P
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 10,000,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Oct-2020 0.17%
Modified Duration as of 30-Oct-2020 8.12
Effective Duration as of 30-Oct-2020 8.00 Jahre
Weighted Avg Maturity as of 30-Oct-2020 9.25 Jahre
WAL to Worst as of 30-Oct-2020 9.25 Jahre

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, material sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI Fund Ratings and, unless otherwise stated in Fund documentation and included within a Fund’s investment objective, ESG integration does not change a Fund’s investment objective or constrain the Investment Manager’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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of 01-Nov-2020 A
MSCI ESG Quality Score (0-10) as of 01-Nov-2020 6.74
MSCI ESG Quality Score - Peer Percentile as of 01-Nov-2020 72.40
MSCI ESG % Coverage as of 01-Nov-2020 93.25
Fund Lipper Global Classification as of 01-Nov-2020 Bond EUR
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 01-Nov-2020 73.02
Funds in Peer Group as of 01-Nov-2020 308
All data is from MSCI ESG Fund Ratings as of 01-Nov-2020, based on holdings as of 30-Apr-2020. As such, the funds sustainable characteristics may differ from MSCI ESG ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, sustainability characteristics are typically available 6 months after launch.

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.


Transparency on Business Involvement metrics is not indicative of a fund’s investment objective, and, unless otherwise stated in Fund documentation and included within a Fund’s investment objective, ESG integration does not change a Fund’s investment objective or constrain the Investment Manager’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 30-Oct-2020 0.00%
MSCI - UN Global Compact Violators as of 30-Oct-2020 1.11%
MSCI - Nuclear Weapons as of 30-Oct-2020 0.00%
MSCI - Thermal Coal as of 30-Oct-2020 0.00%
MSCI - Civilian Firearms as of 30-Oct-2020 0.00%
MSCI - Oil Sands as of 30-Oct-2020 0.00%
MSCI - Tobacco as of 30-Oct-2020 0.28%

Business Involvement Coverage as of 30-Oct-2020 43.02%
Percentage of Fund not covered as of 30-Oct-2020 56.98%
Business Involvement exposures shown above for Thermal Coal and Oil Sands are calculated and reported for issuers within the fund that generate more than 5% of revenue from thermal coal mining or oil sands extraction, as defined by MSCI ESG Research. For the exposure to issuers within the fund that generate any revenue from thermal coal mining or oil sands extraction (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.16% and for Oil Sands 0.53%.

Business Involvement metrics are calculated using MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this research 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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

 

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for BGF Euro Bond Fund, Class I2, as of 31-Oct-2020 rated against 1158 EUR Diversified Bond Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective 23-Jul-2020)

Portfolio Managers

Portfolio Managers

Ronald van Loon
Ronald van Loon
Michael Krautzberger
Head, BlackRock’s Pan-European Fixed Income Team

     

Holdings

Holdings

as of 30-Oct-2020
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 4.25 07/04/2039 1.71
FRANCE (REPUBLIC OF) 1.75 06/25/2039 1.33
ITALY (REPUBLIC OF) 1.45 11/15/2024 1.29
ITALY (REPUBLIC OF) 1.85 07/01/2025 1.22
GERMANY (FEDERAL REPUBLIC OF) 0 08/15/2030 1.15
Name Weight (%)
ITALY (REPUBLIC OF) 1.3 05/15/2028 1.07
ITALY (REPUBLIC OF) 0.05 04/15/2021 0.94
JAPAN (GOVERNMENT OF) 10YR #23 0.1 03/10/2028 0.91
SPAIN (KINGDOM OF) 2.75 10/31/2024 0.88
FRANCE (REPUBLIC OF) 0.5 05/25/2025 0.83
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Oct-2020

% of Market Value

Type Fund Benchmark Net
as of 30-Oct-2020

% of Market Value

Type Fund Benchmark Net
as of 30-Oct-2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Oct-2020

% of Market Value

Type Fund Benchmark Net
as of 30-Oct-2020

% of Market Value

Type Fund Benchmark Net
as of 30-Oct-2020

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class I2 EUR None 15.85 0.00 0.00 15.85 14.51 - LU0368229703 - -
Class AI2 EUR - 10.73 0.00 0.00 10.73 9.85 - LU1960220827 - -
Class D2 USD None 39.15 -0.02 -0.05 39.17 32.69 - LU0827877472 - -
Class A3 USD Monthly 25.21 -0.02 -0.08 25.23 21.10 - LU0172748641 - -
Class A2 USD None 37.31 -0.03 -0.08 37.34 31.23 - LU0171279184 - -
Class D3 USD Monthly 25.29 -0.01 -0.04 25.30 21.15 - LU0827877639 - -
Class D2 EUR None 33.00 -0.01 -0.03 33.01 30.23 - LU0297941469 - -
Class A4 GBP Annual 25.39 -0.16 -0.63 26.00 23.10 - LU0204069685 - -
Class I4 Hedged GBP Annual 11.61 -0.01 -0.09 11.62 10.64 - LU1376384282 - -
Class I4 Hedged USD Annual 11.53 -0.01 -0.09 11.54 10.53 - LU1808491812 - -
Class A2 Hedged PLN None 116.34 -0.04 -0.03 116.38 106.26 - LU1499592381 - -
Class A1 USD Daily 25.22 -0.02 -0.08 25.24 21.11 - LU0171278889 - -
Class A4 EUR Annual 28.48 -0.01 -0.04 28.49 26.16 - LU0430265933 - -
Class D4 GBP Annual 25.50 -0.15 -0.58 26.09 23.17 - LU0827877712 - -
Class A2 EUR None 31.45 -0.01 -0.03 31.46 28.88 - LU0050372472 - -
Class D4 Hedged GBP Annual 11.58 -0.01 -0.09 11.59 10.61 - LU1376384365 - -
Class I4 EUR Annual 10.86 0.00 0.00 10.86 9.98 - LU1808491655 - -
Class E2 USD None 33.46 -0.02 -0.06 33.48 28.10 - LU0171279937 - -
Class A1 EUR Daily 21.26 -0.01 -0.05 21.27 19.52 - LU0118259232 - -
Class D3 EUR Monthly 21.31 -0.01 -0.05 21.32 19.56 - LU0827877555 - -
Class A3 EUR Monthly 21.25 -0.01 -0.05 21.26 19.51 - LU0172396516 - -
Class D2 Hedged CHF None 12.69 -0.01 -0.08 12.70 11.66 - LU1266592374 - -
Class I2 Hedged USD None 12.73 0.00 0.00 12.73 11.58 - LU1376384100 - -
Class A2 CZK None 828.25 -0.38 -0.05 858.00 761.34 - LU1791174284 - -
Class A2 Hedged USD None 14.56 -0.01 -0.07 14.57 13.29 - LU0869650977 - -
Class I2 Hedged JPY None 1,118.00 0.00 0.00 1,118.00 1,023.00 - LU1668661629 - -
Class E2 EUR None 28.20 -0.01 -0.04 28.21 25.99 - LU0090830810 - -
Class A2 Hedged JPY None 1,100.00 0.00 0.00 1,100.00 1,010.00 - LU1668663914 - -
Class D4 EUR Annual 12.62 -0.01 -0.08 12.63 11.59 - LU0938162699 - -
Class I2 Hedged CHF None 11.30 0.00 0.00 11.30 10.37 - LU1180456292 - -
Class D2 Hedged USD None 14.98 0.00 0.00 14.98 13.63 - LU0869640077 - -
Class E5 EUR Quarterly 26.32 -0.01 -0.04 26.33 24.25 - LU0500207468 - -

Literature

Literature