Equity

BGF Systematic Global Equity High Income 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.

IMPORTANT: 

•   The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund's income-generating investment strategy may reduce the potential for capital growth and future income of the Fund.
•   The Fund is subject to currency risk, emerging market risk, foreign investments restrictions risk, small-cap companies’ volatility and liquidity risks and currency conversion risk including Renminbi denominated Classes.
•   Class 5(G) Shares pay dividends gross of expenses. Class 6 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Class 8 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion and include interest rate differentials arising from share class currency hedging. Negative interest rate differentials may decrease the dividends paid. Paying dividends gross of expenses may result in more income being available for distribution; however these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
•   The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
•   The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
•   Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.

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

Record Date Ex-Date Payable Date
View full table

This chart shows the fund's performance as the percentage loss or gain per year over the last 8 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -4.5 4.9 18.4 -9.5 17.3 8.9 17.0 -14.9
Constraint Benchmark 1 (%) 2.8 7.4 17.9 -1.6 21.1 2.7 13.9 -10.3

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

  1y 3y 5y 10y Incept.
-0.01 9.48 4.79 - 4.89
Constraint Benchmark 1 (%) 0.88 6.67 5.63 - 6.88
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
7.38 2.22 3.40 11.08 -0.01 31.23 26.33 - 50.44
Constraint Benchmark 1 (%) 4.39 2.82 2.62 8.72 0.88 21.37 31.48 - 76.79
  From
31-Mar-2018
To
31-Mar-2019
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
Total Return (%)

as of 31.Mar2023

2.96 -14.90 43.31 6.70 -6.91
Constraint Benchmark 1 (%)

as of 31.Mar2023

9.04 -7.52 24.36 8.63 -6.10

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 USD 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 01.Jun2023 USD 4,433,324,481
Share Class launch date 08.Oct2014
Fund Launch Date 13.Oct2006
Share Class Currency USD
Fund Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI ACWI Minimum Volatility (USD Optimized) Index - USD Net
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.82%
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment USD 5,000.00
Minimum Subsequent Investment -
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Equity Income
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGGEA6U
ISIN LU1116320737
SEDOL BR4SXX2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28.Apr2023 429
12m Trailing Yield as of 31.May2023 8.40%
Standard Deviation (3y) as of 30.Apr2023 13.46%
3y Beta as of 31.Dec2018 0.892
P/E Ratio as of 28.Apr2023 14.45
P/B Ratio as of 28.Apr2023 2.39

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 19.May2023 A
MSCI ESG % Coverage as of 19.May2023 95.30
MSCI ESG Quality Score (0-10) as of 19.May2023 6.71
MSCI ESG Quality Score - Peer Percentile as of 19.May2023 8.04
Fund Lipper Global Classification as of 19.May2023 Equity Global Income
Funds in Peer Group as of 19.May2023 485
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 19.May2023 86.68
MSCI Weighted Average Carbon Intensity % Coverage as of 19.May2023 93.09
All data is from MSCI ESG Fund Ratings as of 19.May2023, based on holdings as of 31.Dec2022. 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.Apr2023 0.00%
MSCI - UN Global Compact Violators as of 28.Apr2023 1.09%
MSCI - Nuclear Weapons as of 28.Apr2023 0.00%
MSCI - Thermal Coal as of 28.Apr2023 0.87%
MSCI - Civilian Firearms as of 28.Apr2023 0.00%
MSCI - Oil Sands as of 28.Apr2023 0.39%
MSCI - Tobacco as of 28.Apr2023 1.48%

Business Involvement Coverage as of 28.Apr2023 100.06%
Percentage of Fund not covered as of 28.Apr2023 0.05%
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 1.41% and for Oil Sands 2.80%.

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 material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in the research and decision phases of the investment process. This may include relevant, internal ESG research which along with multiple other research insights, informs active portfolio weighting versus a reference benchmark (or weighting implemented to achieve an absolute return outcome, if applicable). The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion 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 Labeling

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

3 stars
Overall Morningstar Rating for BGF Systematic Global Equity High Income Fund, Class A6, as of 31.May2023 rated against 1040 Global Equity Income Funds.

Holdings

Holdings

as of 28.Apr2023
Name Weight (%)
APPLE INC 4.06
MICROSOFT CORPORATION 2.66
PEPSICO INC 2.45
WALMART INC 2.26
COCA-COLA CO 1.97
Name Weight (%)
JOHNSON & JOHNSON 1.89
AMAZON.COM INC 1.71
ADOBE INC 1.40
BRISTOL-MYERS SQUIBB CO 1.38
CHEVRON CORP 1.37
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28.Apr2023

% of Market Value

Type Fund Benchmark Net
as of 28.Apr2023

% of Market Value

Type Fund Benchmark Net
Sorry, geographic exposures are not available at this time.
Sorry, market cap data is not available at this time.
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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class A6 USD Monthly 7.77 0.01 0.13 01.Jun2023 8.58 7.13 LU1116320737 -
Class A5G USD Quarterly 4.70 0.00 0.00 01.Jun2023 5.13 4.22 LU0265550946 -
Class D5G Hedged GBP Quarterly 8.52 0.01 0.12 01.Jun2023 9.43 7.71 LU2325744022 -
Class A2 Hedged SGD None 13.42 0.01 0.07 01.Jun2023 13.84 11.75 LU0326426086 -
Class I4G USD Annual 9.42 0.01 0.11 01.Jun2023 9.90 8.11 LU2448342217 -
Class A2 USD None 16.98 0.02 0.12 01.Jun2023 17.48 14.73 LU0265550359 -
Class SR6 USD Monthly 9.17 0.01 0.11 01.Jun2023 9.97 8.33 LU2471418397 -
Class I3 USD Monthly 9.55 0.01 0.10 01.Jun2023 10.35 8.63 LU1630945258 -
Class A6 Hedged HKD Monthly 73.72 0.04 0.05 01.Jun2023 82.63 68.32 LU1116320901 -
Class A8 Hedged CAD Monthly 7.41 0.00 0.00 01.Jun2023 8.25 6.83 LU1116320497 -
Class SR2 USD - 9.97 0.01 0.10 01.Jun2023 10.26 8.60 LU2471418041 -
Class I5G USD Quarterly 9.85 0.01 0.10 01.Jun2023 10.62 8.78 LU1379101360 -
Class A2 Hedged EUR None 9.69 0.01 0.10 01.Jun2023 10.21 8.59 LU0278718100 -
Class D6 USD Monthly 9.92 0.01 0.10 01.Jun2023 10.61 8.98 LU2490080954 -
Class D4G USD Annual 9.39 0.01 0.11 01.Jun2023 9.89 8.10 LU2448342563 -
Class D6 Hedged SGD Monthly 8.19 0.01 0.12 01.Jun2023 9.06 7.53 LU2381873202 -
Class A6 Hedged SGD Monthly 8.05 0.01 0.12 01.Jun2023 9.00 7.46 LU2381873111 -
Class I2 EUR - 15.20 -0.07 -0.46 01.Jun2023 16.15 14.18 LU1791805960 -
Class A8 Hedged AUD Monthly 7.34 0.01 0.14 01.Jun2023 8.21 6.77 LU1116320141 -
Class A8 Hedged NZD Monthly 7.42 0.01 0.13 01.Jun2023 8.28 6.82 LU1116319648 -
Class A6 Hedged GBP Monthly 6.89 0.01 0.15 01.Jun2023 7.80 6.41 LU1116319994 -
Class A4G Hedged CHF Annual 8.84 0.00 0.00 01.Jun2023 9.82 7.90 LU2448342480 -
Class D4G Hedged CHF Annual 8.94 0.01 0.11 01.Jun2023 9.84 7.94 LU2448342647 -
Class A5G Hedged EUR Quarterly 3.14 0.00 0.00 01.Jun2023 3.56 2.89 LU0278719090 -
Class D2 USD None 19.10 0.01 0.05 01.Jun2023 19.66 16.48 LU0368268602 -
Class D5G USD Quarterly 5.23 0.01 0.19 01.Jun2023 5.65 4.66 LU0265552215 -
Class A2 Hedged CHF None 9.33 0.00 0.00 01.Jun2023 9.90 8.34 LU2315843826 -
Class I5G Hedged EUR Quarterly 8.15 0.00 0.00 01.Jun2023 9.14 7.43 LU2319964198 -
Class A4G USD Annual 9.28 0.00 0.00 01.Jun2023 9.87 8.06 LU2448342308 -
Class D5G Hedged CHF Quarterly 8.27 0.00 0.00 01.Jun2023 9.35 7.61 LU2315843743 -
Class I5G Hedged CHF Quarterly 8.10 0.00 0.00 01.Jun2023 9.14 7.44 LU2319964271 -
Class D2 Hedged CHF None 9.52 0.00 0.00 01.Jun2023 10.01 8.46 LU2315844048 -
Class D2 Hedged EUR None 10.65 0.01 0.09 01.Jun2023 11.12 9.39 LU0827880930 -
Class A5G Hedged CHF Quarterly 8.11 0.00 0.00 01.Jun2023 9.25 7.50 LU2315843669 -
Class A8 Hedged ZAR Monthly 91.12 0.11 0.12 01.Jun2023 100.97 83.58 LU2250418733 -
Class D5G Hedged EUR Quarterly 8.33 0.00 0.00 01.Jun2023 9.36 7.61 LU2315843586 -
Class A2 Hedged HKD None 100.27 0.06 0.06 01.Jun2023 103.44 87.78 LU2290526081 -
Class X2 USD - 13.51 0.01 0.07 01.Jun2023 13.90 11.59 LU0265554344 -
Class A8 Hedged CNH Monthly 77.91 0.03 0.04 01.Jun2023 88.72 73.02 LU1149717743 -

Portfolio Managers

Portfolio Managers

Robert Fisher
Robert Fisher
Andrew Huzzey
Andrew Huzzey
Muzo Kayacan
Muzo Kayacan

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.
Recommended holding period : 5 years
Example Investment USD 10,000.00
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
5,710 USD
-42.9%
3,510 USD
-18.9%

Unfavourable

What you might get back after costs
Average return each year
7,910 USD
-20.9%
8,690 USD
-2.8%

Moderate

What you might get back after costs
Average return each year
10,040 USD
0.4%
11,930 USD
3.6%

Favourable

What you might get back after costs
Average return each year
13,610 USD
36.1%
15,220 USD
8.8%

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



Literature

Literature

 
Please access the document library in order to find the KID/KIID in local language.