Fixed Income

BGF Emerging Markets Local Currency Bond 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.

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

Chart

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Reinvestments

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

This chart shows the fund's performance as the percentage loss or gain per year over the last 6 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -15.1 8.5 0.4 -9.1 -11.4 10.8
Constraint Benchmark 1 (%) -6.2 13.5 2.7 -8.7 -11.7 12.7

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

  1y 3y 5y 10y Incept.
-0.76 -4.09 -2.07 - -3.70
Constraint Benchmark 1 (%) 1.79 -3.03 -0.27 - -0.56
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-5.91 -2.86 -4.06 3.59 -0.76 -11.76 -9.93 - -22.00
Constraint Benchmark 1 (%) -4.21 -2.14 -2.73 4.07 1.79 -8.83 -1.32 - -3.63
  From
31.Mar.2019
To
31.Mar.2020
From
31.Mar.2020
To
31.Mar.2021
From
31.Mar.2021
To
31.Mar.2022
From
31.Mar.2022
To
31.Mar.2023
From
31.Mar.2023
To
31.Mar.2024
Total Return (%)

as of 31-Mar-2024

-13.55 14.61 -9.27 -0.51 3.08
Constraint Benchmark 1 (%)

as of 31-Mar-2024

-6.52 13.03 -8.53 -0.72 4.91

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 CHF, 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 24-May-2024
USD 1’665’653’583.96
Fund Launch Date
26-Jun-1997
Base Currency
USD
Constraint Benchmark 1
J.P. Morgan GBI-EM Global Diversified Index
Initial Charge
5.00%
ISIN
LU1688375184
Performance Fee
0.00%
Minimum Subsequent Investment
CHF 1’000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGLD2CH
Share Class launch date
27-Sept-2017
Share Class Currency
CHF
Asset Class
Fixed Income
SFDR Classification
Other
Ongoing Charges Figures
0.73%
Annual Management Fee
0.50%
Minimum Initial Investment
CHF 100’000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Other Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
BZ6CSV1

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30-Apr-2024
196
3y Beta
as of 30-Apr-2024
1.06
Modified Duration
as of 30-Apr-2024
6.07
Effective Duration
as of 30-Apr-2024
6.09 yrs
WAL to Worst
as of 30-Apr-2024
7.47 yrs
Standard Deviation (3y)
as of 30-Apr-2024
11.49%
Yield to Maturity
as of 30-Apr-2024
8.18%
Weighted Avg YTM
as of 30-Apr-2024
8.18%
Weighted Avg Maturity
as of 30-Apr-2024
7.47 yrs

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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.

 

Risk Indicator

Risk Indicator

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

Ratings

Portfolio Managers

Portfolio Managers

Laurent Develay
Laurent Develay
Amer Bisat
Managing Director, Head of Emerging Markets Fixed Income

Amer Bisat, PhD., Managing Director, is Head of Emerging Markets Fixed Income and a member of the Fundamental-GFI Executive Committee.

Laurent Develay
Laurent Develay
Michal Wozniak
Michal Wozniak

Holdings

Holdings

as of 30-Apr-2024
Name Weight (%)
POLAND (REPUBLIC OF) 6 10/25/2033 2.87
BRAZIL FEDERATIVE REPUBLIC OF (GOV 10 01/01/2029 2.65
PERU (REPUBLIC OF) 6.95 08/12/2031 2.35
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.88
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2026 1.88
Name Weight (%)
COLOMBIA (REPUBLIC OF) 13.25 02/09/2033 1.76
SOUTH AFRICA (REPUBLIC OF) 7 02/28/2031 1.69
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 1.65
COLOMBIA (REPUBLIC OF) 7 03/26/2031 1.64
MEXICO (UNITED MEXICAN STATES) (GO 7.75 05/29/2031 1.63
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class D2 Hedged CHF 7.98 -0.03 -0.37 24-May-2024 8.30 7.35 LU1688375184
Class D2 CHF 23.95 -0.07 -0.29 24-May-2024 24.08 21.14 LU1065150267
Class A2 CHF 22.05 -0.07 -0.32 24-May-2024 22.17 19.52 LU0938162186
Class X2 GBP 5.98 -0.03 -0.50 24-May-2024 6.10 5.59 LU1688375267
Class C2 USD 19.41 -0.07 -0.36 24-May-2024 20.00 17.59 LU0278476923
Class SR2 Hedged EUR 9.31 -0.04 -0.43 24-May-2024 9.60 8.45 LU2319963380
Class A2 Hedged SGD 8.02 -0.03 -0.37 24-May-2024 8.29 7.31 LU0358998713
Class SR2 USD 10.05 -0.04 -0.40 24-May-2024 10.28 9.00 LU2319963547
Class SR3 Hedged GBP 8.11 -0.03 -0.37 24-May-2024 8.61 7.58 LU2319963463
Class A1 EUR 2.82 -0.01 -0.35 24-May-2024 2.92 2.71 LU0278461065
Class A3 EUR 2.85 -0.01 -0.35 24-May-2024 2.95 2.73 LU0278457469
Class D2 Hedged EUR 7.17 -0.03 -0.42 24-May-2024 7.39 6.51 LU0622213642
Class A4 USD 12.69 -0.05 -0.39 24-May-2024 13.45 11.41 LU0548402170
Class A2 EUR 22.22 -0.10 -0.45 24-May-2024 22.50 20.61 LU0278457204
Class I2 CHF 24.15 -0.07 -0.29 24-May-2024 24.28 21.30 LU1781817694
Class A2 USD 24.09 -0.10 -0.41 24-May-2024 24.71 21.66 LU0278470058
Class A2 Hedged SEK 81.31 -0.31 -0.38 24-May-2024 84.12 74.28 LU1715605868
Class A3 USD 3.09 -0.01 -0.32 24-May-2024 3.26 2.87 LU0278470132
Class D3 EUR 11.77 -0.06 -0.51 24-May-2024 12.21 11.31 LU0827884924
Class A6 Hedged SGD 5.52 -0.02 -0.36 24-May-2024 5.97 5.24 LU1676225185
Class D3 Hedged AUD 4.80 -0.01 -0.21 24-May-2024 5.14 4.52 LU0827884841
Class D3 USD 12.77 -0.05 -0.39 24-May-2024 13.47 11.89 LU0523291242
Class I5 USD 7.65 -0.03 -0.39 24-May-2024 8.02 7.07 LU1495982867
Class D2 Hedged GBP 14.05 -0.06 -0.43 24-May-2024 14.41 12.65 LU0827885491
Class AI5 EUR 8.44 -0.04 -0.47 24-May-2024 8.71 8.07 LU1960220660
Class I5 EUR 7.05 -0.03 -0.42 24-May-2024 7.27 6.73 LU0995350831
Class A1 USD 3.06 -0.01 -0.33 24-May-2024 3.22 2.86 LU0278477574
Class D2 USD 26.17 -0.10 -0.38 24-May-2024 26.78 23.46 LU0383940458
Class D3 Hedged GBP 5.13 -0.02 -0.39 24-May-2024 5.45 4.80 LU0995345831
Class A8 Hedged AUD 5.00 -0.01 -0.20 24-May-2024 5.33 4.70 LU1133072774
Class E5 Hedged EUR 4.64 -0.02 -0.43 24-May-2024 4.97 4.36 LU1062843260
Class I2 USD 26.39 -0.10 -0.38 24-May-2024 26.99 23.63 LU0520955575
Class I2 Hedged EUR 7.45 -0.03 -0.40 24-May-2024 7.67 6.76 LU0473186707
Class D2 Hedged SGD 8.51 -0.03 -0.35 24-May-2024 8.77 7.72 LU0827884767
Class E2 USD 22.10 -0.08 -0.36 24-May-2024 22.70 19.93 LU0374975414
Class D4 EUR 11.75 -0.06 -0.51 24-May-2024 12.25 10.87 LU0827885145
Class C1 USD 3.05 -0.02 -0.65 24-May-2024 3.22 2.85 LU0278478119
Class D2 Hedged PLN 10.50 -0.04 -0.38 24-May-2024 10.76 9.46 LU0827884684
Class A6 Hedged GBP 5.59 -0.02 -0.36 24-May-2024 5.98 5.27 LU1408528302
Class D5 GBP 7.13 -0.03 -0.42 24-May-2024 7.42 6.90 LU1694209807
Class A4 EUR 11.70 -0.05 -0.43 24-May-2024 12.19 10.85 LU0478974834
Class A3 HKD 24.12 -0.08 -0.33 24-May-2024 25.42 22.51 LU0388349754
Class I2 GBP 20.74 -0.09 -0.43 24-May-2024 21.21 19.44 LU1741217027
Class SR3 USD 8.41 -0.03 -0.36 24-May-2024 8.87 7.83 LU2319963620
Class C2 EUR 17.89 -0.09 -0.50 24-May-2024 18.19 16.73 LU0278457972
Class A2 Hedged EUR 6.86 -0.03 -0.44 24-May-2024 7.08 6.25 LU0359002093
Class X2 Hedged GBP 10.02 -0.04 -0.40 24-May-2024 10.25 8.98 LU1505939139
Class A6 USD 6.34 -0.02 -0.31 24-May-2024 6.74 5.95 LU1408528211
Class D2 EUR 24.13 -0.11 -0.45 24-May-2024 24.40 22.32 LU0329592702
Class A2 Hedged PLN 9.90 -0.04 -0.40 24-May-2024 10.17 8.95 LU0480535052
Class A2 Hedged CHF 6.52 -0.02 -0.31 24-May-2024 6.79 6.02 LU0623004180
Class X2 USD 7.61 -0.03 -0.39 24-May-2024 7.77 6.79 LU0344905624
Class A6 Hedged HKD 61.25 -0.24 -0.39 24-May-2024 65.68 57.86 LU1408528484
Class E2 Hedged EUR 6.39 -0.03 -0.47 24-May-2024 6.62 5.84 LU0474536231
Class X2 EUR 7.02 -0.03 -0.43 24-May-2024 7.08 6.46 LU0531082021
Class AI2 EUR 10.74 -0.05 -0.46 24-May-2024 10.88 9.96 LU1960220587
Class X5 Hedged GBP 7.50 -0.03 -0.40 24-May-2024 7.91 6.96 LU1954752702
Class A6 Hedged CAD 6.06 -0.02 -0.33 24-May-2024 6.49 5.71 LU1408528641
Class A3 Hedged AUD 4.80 -0.02 -0.41 24-May-2024 5.15 4.52 LU0575500318
Class A8 Hedged NZD 6.29 -0.03 -0.47 24-May-2024 6.71 5.92 LU1408528724
Class E2 EUR 20.38 -0.09 -0.44 24-May-2024 20.67 18.96 LU0278459671
Class A2 CZK 548.75 -3.30 -0.60 24-May-2024 569.28 491.64 LU1791177113
Class D4 USD 12.74 -0.05 -0.39 24-May-2024 13.51 11.42 LU0827885228
Class D3 HKD 99.75 -0.33 -0.33 24-May-2024 105.15 93.09 LU0827885061

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 3 years
Example Investment CHF 10’000
Scenario
If you exit after 1 year
If you exit after 3 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
6’590 CHF
-34.1%
5’010 CHF
-20.6%

Unfavourable

What you might get back after costs
Average return each year
7’600 CHF
-24.0%
7’310 CHF
-9.9%

Moderate

What you might get back after costs
Average return each year
9’520 CHF
-4.8%
9’200 CHF
-2.7%

Favourable

What you might get back after costs
Average return each year
11’340 CHF
13.4%
11’300 CHF
4.2%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature