Equity

BlackRock Global Equity Income Fund

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 may invest in assets denominated in various currencies. Changes in exchange rates and currency controls may affect the value of the Fund's assets.
• The Fund is subject to emerging market risk, foreign investments restrictions risk, small-cap companies’ volatility and liquidity risks and currency conversion risk including Renminbi denominated Classes.
• Class 4(G) and Class 5(G) Shares pay dividends gross of expenses. Class 6 Shares and Class 10 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.

Overview

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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

Performance

Performance

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Distributions

Ex-Date Distribution
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  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 1.99 0.53 4.30 18.40 -12.13 21.10 5.48 16.77 -14.84 15.32
Benchmark (%) 4.16 -2.36 7.86 23.97 -9.41 26.60 16.25 18.54 -18.36 22.20

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

  1y 3y 5y 10y Incept.
13.41 4.64 6.55 5.28 6.61
Benchmark (%) 23.22 6.96 10.92 8.66 9.02
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
4.63 2.10 4.63 14.71 13.41 14.56 37.33 67.28 135.44
Benchmark (%) 8.20 3.14 8.20 20.14 23.22 22.35 67.87 129.48 217.53
Past performance is not a guide to future performance. Investors may not get back the full amount invested.

Performance is calculated based on the period NAV-to-NAV with dividend reinvested. Performance figures are calculated net of fees.

These figures show by how much the Share Class of the Fund increased or decreased in value during the period being shown. Performance is calculated in the relevant share class currency, including ongoing charges and taxes and excluding subscription and redemption fees, if applicable.

Where no past performance is shown there was insufficient data available in that period to provide performance.

Please refer to the Key Facts section for the inception date of the Fund and the Share Class.

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 18-Apr-2024 USD 901,032,983
Share Class Inception Date 12-Nov-2010
Fund Inception 12-Nov-2010
Share Class Currency USD
Fund Base Currency USD
Asset Class Equity
Benchmark MSCI ACWI
SFDR Classification Article 8
Initial Charge 5.00%
ISIN LU0553294199
Management Fee (incl Distribution Fee, if any) 1.50%
Performance Fee 0.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
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 BGGEA5G
SEDOL B5V2PH1
SFC-authorised ESG fund No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28-Mar-2024 47
12M Trailing Distribution as of 31-Mar-2024 2.36%
Standard Deviation (3y) as of 31-Mar-2024 14.77%
3y Beta as of 31-Mar-2024 0.852
P/E Ratio as of 28-Mar-2024 23.49
P/B Ratio as of 28-Mar-2024 4.09

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 AA
MSCI ESG % Coverage as of 21-Mar-2024 99.94
MSCI ESG Quality Score (0-10) as of 21-Mar-2024 7.36
MSCI ESG Quality Score - Peer Percentile as of 21-Mar-2024 56.11
Fund Lipper Global Classification as of 21-Mar-2024 Equity Global Income
Funds in Peer Group as of 21-Mar-2024 483
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Mar-2024 102.24
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Mar-2024 98.12
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 0.00%
MSCI - Nuclear Weapons as of 28-Mar-2024 0.00%
MSCI - Thermal Coal as of 28-Mar-2024 0.00%
MSCI - Civilian Firearms as of 28-Mar-2024 0.00%
MSCI - Oil Sands as of 28-Mar-2024 0.00%
MSCI - Tobacco as of 28-Mar-2024 0.00%

Business Involvement Coverage as of 28-Mar-2024 99.89%
Percentage of Fund not covered as of 28-Mar-2024 0.38%
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 2.20%.

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

Ratings

Morningstar Rating

3 stars
As of 31-Mar-2024
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 28-Mar-2024
Name Weight (%)
MICROSOFT CORP 5.11
ABBVIE INC 3.05
NOVO NORDISK CLASS B 3.05
TAIWAN SEMICONDUCTOR MANUFACTURING 2.94
ASTRAZENECA PLC 2.86
Name Weight (%)
UNITEDHEALTH GROUP INC 2.80
RELX PLC 2.79
NESTLE SA 2.72
UNION PACIFIC CORP 2.63
PAYCHEX INC 2.54
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.
Holdings subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 28-Mar-2024

% of Weight

Type Fund Benchmark Net
as of 28-Mar-2024

% of Weight

Type Fund Benchmark Net
as of 28-Mar-2024

% of Weight

Type Fund Benchmark Net
Allocations are subject to change. Source: BlackRock
as of 28-Mar-2024

% of Weight

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.
Due to rounding, the total may not be equal to 100%

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A5 USD 15.37 -0.07 -0.45 18-Apr-2024 16.11 13.48 LU0553294199
D5 USD 16.77 -0.07 -0.42 18-Apr-2024 17.56 14.65 LU0827881235
A2 Hedged EUR 16.95 -0.08 -0.47 18-Apr-2024 17.78 14.87 LU0625451603
D2 Hedged SGD 21.21 -0.09 -0.42 18-Apr-2024 22.24 18.53 LU0827881581
C2 USD 18.12 -0.08 -0.44 18-Apr-2024 18.99 15.84 LU0545039629
A4 EUR 14.69 -0.07 -0.47 18-Apr-2024 15.06 12.85 LU0739721834
D2 Hedged PLN 25.23 -0.12 -0.47 18-Apr-2024 26.44 21.95 LU0827881151
D5 GBP 13.49 -0.04 -0.30 18-Apr-2024 13.83 12.08 LU0827881748
D2 Hedged EUR 18.48 -0.08 -0.43 18-Apr-2024 19.38 16.16 LU0827881409
D4 EUR 17.28 -0.09 -0.52 18-Apr-2024 17.72 15.07 LU0938162426
A6 Hedged CNY 118.81 -0.53 -0.44 18-Apr-2024 125.04 105.96 LU1075907227
D2 Hedged CHF 16.08 -0.08 -0.50 18-Apr-2024 16.90 14.20 LU0862987244
D5 Hedged GBP 9.09 -0.04 -0.44 18-Apr-2024 9.53 7.97 LU0827881318
D5 Hedged EUR 12.84 -0.06 -0.47 18-Apr-2024 13.47 11.33 LU0827881664
A8 Hedged ZAR 125.79 -0.53 -0.42 18-Apr-2024 132.02 110.37 LU1023055079
A2 Hedged PLN 23.14 -0.11 -0.47 18-Apr-2024 24.27 20.20 LU0654592483
A6 USD 15.55 -0.07 -0.45 18-Apr-2024 16.32 13.67 LU0738911758
A2 EUR 21.26 -0.11 -0.51 18-Apr-2024 21.81 18.60 LU0880975056
D2 USD 25.04 -0.11 -0.44 18-Apr-2024 26.20 21.67 LU0545039975
A2 USD 22.65 -0.10 -0.44 18-Apr-2024 23.71 19.68 LU0545039389
A10 USD 11.11 -0.05 -0.45 18-Apr-2024 11.71 10.01 LU2533723628
A4 HEDGED EUR 10.86 -0.05 -0.46 18-Apr-2024 11.40 9.53 LU1529944511
A8 Hedged CNH 119.02 -0.54 -0.45 18-Apr-2024 125.07 105.15 LU1220226846
A5 GBP 12.34 -0.04 -0.32 18-Apr-2024 12.67 11.10 LU0557294096
A2 Hedged CHF 12.52 -0.06 -0.48 18-Apr-2024 13.16 11.09 LU1115429885
A8 Hedged AUD 11.73 -0.06 -0.51 18-Apr-2024 12.32 10.33 LU0949170699
A6 Hedged SGD 11.62 -0.06 -0.51 18-Apr-2024 12.22 10.32 LU0949170772
A5 HEDGED SGD 13.71 -0.06 -0.44 18-Apr-2024 14.40 12.13 LU0661504455
A5 HEDGED EUR 11.77 -0.05 -0.42 18-Apr-2024 12.36 10.42 LU0625451512
C5 USD 12.45 -0.05 -0.40 18-Apr-2024 13.06 10.98 LU0592708423
A2 Hedged SGD 19.46 -0.09 -0.46 18-Apr-2024 20.42 17.06 LU0661495795
A6 Hedged HKD 115.20 -0.51 -0.44 18-Apr-2024 120.96 101.75 LU1003077747
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Olivia Treharne
Olivia Treharne
Molly Greenen
Molly Greenen

Documents

Documents