Equity

BGF World Mining 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

Performance chart data not available for display.
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Distributions

Ex-Date Total Distribution
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This chart shows the fund's performance as the percentage loss or gain per year over the last 1 years.

  2019 2020 2021 2022 2023
Total Return (%) -4.5
Constraint Benchmark 1 (%) 2.4

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

  1y 3y 5y 10y Incept.
-7.85 - - - 2.45
Constraint Benchmark 1 (%) -0.34 - - - 9.95
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-3.04 9.22 -3.04 -0.97 -7.85 - - - 3.76
Constraint Benchmark 1 (%) -0.44 9.82 -0.44 5.69 -0.34 - - - 15.57
  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

- - - - -7.85
Constraint Benchmark 1 (%)

as of 31-Mar-2024

- - - - -0.34

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 12-Apr-2024 USD 5’172’778’280.81
Share Class launch date 21-Sept-2022
Fund Launch Date 21-Mar-1997
Share Class Currency GBP
Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI ACWI Metals & Mining 30% Buffer 10/40 Index
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charges Figures 1.05%
ISIN LU2527846328
Annual Management Fee 1.00%
Performance Fee 0.00%
Minimum Initial Investment GBP 10’000’000.00
Minimum Subsequent Investment GBP 1’000.00
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker I4GBPLX
SEDOL BQ68JB3

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28-Mar-2024 54
12 Month Trailing Dividend Distribution Yield as of 31-Mar-2024 1.81
Standard Deviation (3y) as of - -
3y Beta as of - -
P/E Ratio as of 28-Mar-2024 15.75
P/B Ratio as of 28-Mar-2024 1.78

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 21-Mar-2024 A
MSCI ESG % Coverage as of 21-Mar-2024 93.78
MSCI ESG Quality Score (0-10) as of 21-Mar-2024 6.49
MSCI ESG Quality Score - Peer Percentile as of 21-Mar-2024 64.71
Fund Lipper Global Classification as of 21-Mar-2024 Equity Sector Materials
Funds in Peer Group as of 21-Mar-2024 136
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Mar-2024 362.71
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Mar-2024 91.26
All data is from MSCI ESG Fund Ratings as of 21-Mar-2024, based on holdings as of 31-Oct-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 28-Mar-2024 0.00%
MSCI - UN Global Compact Violators as of 28-Mar-2024 6.94%
MSCI - Nuclear Weapons as of 28-Mar-2024 0.00%
MSCI - Thermal Coal as of 28-Mar-2024 15.05%
MSCI - Civilian Firearms as of 28-Mar-2024 0.00%
MSCI - Oil Sands as of 28-Mar-2024 4.31%
MSCI - Tobacco as of 28-Mar-2024 0.00%

Business Involvement Coverage as of 28-Mar-2024 96.48%
Percentage of Fund not covered as of 28-Mar-2024 3.59%
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 18.85% and for Oil Sands 6.13%.

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 considers ESG criteria in combination with other information during the idea generation, company research, portfolio construction and ongoing monitoring phases of the investment process. ESG information may be sourced from third-party vendors, as well as internal engagement commentary and site visits and input from BlackRock Investment Stewardship. 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
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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Portfolio Managers

Portfolio Managers

Evy Hambro
Evy Hambro
Olivia Markham
Olivia Markham

Holdings

Holdings

as of 28-Mar-2024
Name Weight (%)
GLENCORE PLC 8.27
RIO TINTO PLC 6.89
BHP GROUP LTD 6.69
FREEPORT-MCMORAN INC 4.92
NUCOR CORPORATION 4.59
Name Weight (%)
TECK RESOURCES LTD 4.28
WHEATON PRECIOUS METALS CORP 3.82
VALE SA 3.78
IVANHOE MINES LTD 3.57
AGNICO EAGLE MINES LTD (ONTARIO) 3.17
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28-Mar-2024

% of Market Value

Type Fund Benchmark Net
as of 28-Mar-2024

% of Market Value

Type Fund Benchmark Net
Sorry, geographic exposures are not available at this time.
as of 28-Mar-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 I4 GBP 11.07 0.27 2.50 12-Apr-2024 11.78 9.22 LU2527846328
Class S2 Hedged EUR 14.99 0.25 1.70 12-Apr-2024 16.01 12.68 LU2099033859
Class S2 EUR 15.80 0.38 2.46 12-Apr-2024 16.00 13.15 LU2459103805
Class AI2 EUR 18.16 0.44 2.48 12-Apr-2024 18.57 15.14 LU1960219498
Class C2 EUR 44.81 1.09 2.49 12-Apr-2024 46.39 37.41 LU0331290337
Class E2 EUR 53.98 1.31 2.49 12-Apr-2024 55.47 45.02 LU0172157363
Class D2 Hedged EUR 5.35 0.09 1.71 12-Apr-2024 5.73 4.53 LU0326425278
Class C2 Hedged EUR 3.87 0.06 1.57 12-Apr-2024 4.23 3.30 LU0326424974
Class X10 USD 9.46 0.15 1.61 12-Apr-2024 10.48 8.10 LU2471418983
Class AI2 Hedged EUR 14.27 0.24 1.71 12-Apr-2024 15.39 12.11 LU1960224738
Class A2 EUR 61.02 1.49 2.50 12-Apr-2024 62.39 50.85 LU0172157280
Class A2 USD 64.93 1.04 1.63 12-Apr-2024 68.40 54.64 LU0075056555
Class C2 USD 47.69 0.77 1.64 12-Apr-2024 50.86 40.34 LU0147405384
Class D2 Hedged PLN 10.26 0.17 1.68 12-Apr-2024 10.73 8.63 LU0827890061
Class A4 EUR 54.70 1.33 2.49 12-Apr-2024 56.77 45.59 LU0408222593
Class I2 GBP 60.05 1.43 2.44 12-Apr-2024 62.75 50.02 LU2527846245
Class D2 Hedged GBP 37.03 0.60 1.65 12-Apr-2024 39.16 31.14 LU0827890145
Class S2 USD 16.81 0.27 1.63 12-Apr-2024 17.54 14.09 LU1706559157
Class A2 Hedged EUR 4.75 0.08 1.71 12-Apr-2024 5.12 4.03 LU0326424115
Class A4 GBP 45.48 1.08 2.43 12-Apr-2024 48.73 37.94 LU0204068877
Class D2 Hedged CHF 8.40 0.14 1.69 12-Apr-2024 9.16 7.13 LU0827889998
Class D4 GBP 45.80 1.09 2.44 12-Apr-2024 49.08 38.17 LU0827889725
Class A2 Hedged CHF 7.69 0.12 1.59 12-Apr-2024 8.45 6.54 LU0521028554
Class D2 USD 74.42 1.20 1.64 12-Apr-2024 77.80 62.42 LU0252968341
Class X2 USD 94.43 1.52 1.64 12-Apr-2024 97.50 78.80 LU0147406192
Class D2 EUR 69.93 1.70 2.49 12-Apr-2024 70.97 58.23 LU0252963383
Class A2 Hedged PLN 9.42 0.16 1.73 12-Apr-2024 9.92 7.95 LU0480534758
Class I2 Hedged EUR 5.57 0.09 1.64 12-Apr-2024 5.95 4.71 LU0368236740
Class D2 Hedged SGD 8.84 0.15 1.73 12-Apr-2024 9.44 7.47 LU0827890228
Class A2 Hedged AUD 11.64 0.19 1.66 12-Apr-2024 12.58 9.88 LU1023059493
Class E2 Hedged EUR 4.38 0.08 1.86 12-Apr-2024 4.74 3.72 LU0326425351
Class X2 Hedged EUR 6.30 0.10 1.61 12-Apr-2024 6.66 5.31 LU0485065857
Class I2 USD 74.77 1.21 1.64 12-Apr-2024 77.97 62.65 LU0368260294
Class I2 EUR 70.26 1.71 2.49 12-Apr-2024 71.13 58.48 LU0368236583
Class X2 GBP 75.84 1.81 2.44 12-Apr-2024 75.84 63.10 LU2699150053
Class A2 Hedged HKD 11.10 0.18 1.65 12-Apr-2024 11.82 9.37 LU0788109121
Class E2 USD 57.45 0.93 1.65 12-Apr-2024 60.81 48.44 LU0090845842
Class A2 Hedged SGD 5.59 0.09 1.64 12-Apr-2024 6.01 4.74 LU0330918003
Class B2 USD 10.90 0.17 1.58 12-Apr-2024 10.90 10.00 LU2776654506
Class A10 USD 10.52 0.17 1.64 12-Apr-2024 12.00 9.06 LU2533724279

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 : 5 years
Example Investment GBP 10’000
Scenario
If you exit after 1 year
If you exit after 5 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
5’890 GBP
-41.1%
2’790 GBP
-22.5%

Unfavourable

What you might get back after costs
Average return each year
5’890 GBP
-41.1%
7’620 GBP
-5.3%

Moderate

What you might get back after costs
Average return each year
10’600 GBP
6.0%
14’790 GBP
8.1%

Favourable

What you might get back after costs
Average return each year
22’210 GBP
122.1%
27’320 GBP
22.3%

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



Literature

Literature