Equity

BlackRock Latin American Fund

IMPORTANT:
•The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund invests in certain emerging markets and may be subject to political, tax, economic, social and foreign exchange risks. The Fund's investments are concentrated in Latin America. This may result in greater volatility than more broad-based investments.
•The Fund is subject to currency risk, foreign investments restrictions risk, small-cap companies’ volatility and liquidity risks and securities lending counterparty risk.
•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

Chart

Performance chart data not available for display.
View Charts & Calendar Year Performance
  1y 3y 5y 10y Incept.
-30.94 -12.18 0.77 -6.63 5.37
Benchmark (%)

as of 30-Sep-2020

-29.36 -11.84 2.06 -5.74 6.06
  YTD 6m 1y 3y 5y 10y Incept.
-38.94 14.32 -30.94 -32.26 3.92 -49.61 245.69
Benchmark (%)

as of 30-Sep-2020

-36.06 17.57 -29.36 -31.48 10.71 -44.63 304.13
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.

Key Facts

Key Facts

Size of Fund (Millions) as of 23-Oct-2020 USD 739.169 M
Base Currency USD
Fund Inception 08-Jan-1997
Share Class Currency USD
Share Class Inception Date 09-Jan-1997
Additional Currencies AUD, CHF, EUR, GBP, HKD, PLN, SGD
Asset Class Equity
Morningstar Category Latin America Equity
Benchmark Index MSCI Emerging Markets Latin America Index
Distribution Frequency Non-Distributing
ISIN LU0072463663
Bloomberg Ticker MERLTAI
Management Fee (incl Distribution Fee, if any) 1.75%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 30-Sep-2020 10.51
Average Market Cap (Millions) as of 30-Sep-2020 USD 21,228.8 M
Modified Duration as of 30-Sep-2020 0.00 yrs
12M Trailing Distribution as of - -
3y Volatility as of 30-Sep-2020 32.65
3y Volatility - Benchmark as of 30-Sep-2020 30.88
3y Beta as of 30-Sep-2020 1.047
5yr Volatility as of 30-Sep-2020 28.92
5y Volatility - Benchmark as of 30-Sep-2020 28.51
5y Beta as of 30-Sep-2020 0.997
Since Class Inception – Volatility as of 30-Sep-2020 29.93
Since Class Inception Volatility – Benchmark as of 30-Sep-2020 28.82
Since Class Inception - Beta as of 30-Sep-2020 1.01

Ratings

Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Sep-2020
Name Weight (%)
VALE SA 8.95
PETROLEO BRASILEIRO SA PETROBRAS 8.31
AMERICA MOVIL SAB DE CV 6.45
BANCO BRADESCO SA 5.42
B3 SA BRASIL BOLSA BALCAO 5.37
Name Weight (%)
GRUPO FINANCIERO BANORTE SAB DE CV 3.69
WAL MART DE MEXICO SAB DE CV 3.30
GRUPO MEXICO SAB DE CV 3.17
LOJAS AMERICANAS SA 2.94
CEMEX SAB DE CV 2.56
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 30-Sep-2020

% of Weight

Type Fund Benchmark Net
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the geography where the issuer of the securities carries out much of their business. “Others” excluded from the chart above.
as of 30-Sep-2020

% of Weight

Type Fund Benchmark Net
as of 30-Sep-2020

% of Weight

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

% 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

Pricing

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A2 USD Non-Distributing 51.39 0.00 0.00 23-Oct-2020 79.48 37.37 LU0072463663
C2 USD Non-Distributing 38.68 0.00 0.00 23-Oct-2020 60.42 28.33 LU0147409378
A4 EUR Annually 40.79 -0.05 -0.12 23-Oct-2020 67.34 32.71 LU0408221785
A2 Hedged CHF Non-Distributing 4.57 0.00 0.00 23-Oct-2020 7.19 3.35 LU0521028802
D4 GBP Annually 36.30 0.10 0.28 23-Oct-2020 56.62 29.94 LU0827884098
D2 Hedged GBP Non-Distributing 32.58 0.01 0.03 23-Oct-2020 50.88 23.61 LU0827884411
D2 Hedged CHF Non-Distributing 4.85 0.00 0.00 23-Oct-2020 7.57 3.54 LU0827884171
C2 EUR Non-Distributing 32.68 -0.03 -0.09 23-Oct-2020 54.15 26.23 LU0331286228
A2 EUR Non-Distributing 43.42 -0.04 -0.09 23-Oct-2020 71.23 34.60 LU0171289498
A2 GBP Non-Distributing 39.34 0.12 0.31 23-Oct-2020 60.80 32.09 LU0171289738
D2 Hedged EUR Non-Distributing 38.68 0.00 0.00 23-Oct-2020 60.65 28.32 LU0827884254
D2 USD Non-Distributing 57.06 0.01 0.02 23-Oct-2020 87.71 41.31 LU0252970081
A2 Hedged AUD Non-Distributing 7.46 0.00 0.00 23-Oct-2020 12.01 5.49 LU1023057877
A4 GBP Annually 36.38 0.11 0.30 23-Oct-2020 56.58 29.87 LU0204063647
D2 EUR Non-Distributing 48.21 -0.05 -0.10 23-Oct-2020 78.61 38.24 LU0252965164
D4 EUR Annually 40.79 -0.05 -0.12 23-Oct-2020 67.39 32.81 LU0827883959
D2 Hedged PLN Non-Distributing 6.79 0.00 0.00 23-Oct-2020 10.72 4.97 LU0827884338
A2 Hedged PLN Non-Distributing 6.39 0.00 0.00 23-Oct-2020 10.15 4.69 LU0480534832
A2 Hedged SGD Non-Distributing 4.79 0.00 0.00 23-Oct-2020 7.57 3.50 LU0572108347
A2 Hedged HKD Non-Distributing 6.85 0.00 0.00 23-Oct-2020 10.63 4.98 LU0788109048
D2 GBP Non-Distributing 43.67 0.12 0.28 23-Oct-2020 67.10 35.49 LU0827883876
D2 Hedged SGD Non-Distributing 5.09 0.00 0.00 23-Oct-2020 7.99 3.70 LU0827884502

Portfolio Managers

Portfolio Managers

Ed Kuczma
Ed Kuczma

Documents

Documents