Equity

BlackRock Euro-Markets Fund

IMPORTANT:
• The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund's investments are concentrated in countries participating in European Economic and Monetary Union. This may result in greater volatility than more broad-based investments.
• The Fund is subject to currency risk, smaller companies’ volatility and liquidity risks and contingent convertible bonds 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

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  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -4.20 21.31 -1.56 14.93 -18.07 27.55 7.64 27.81 -18.53
Benchmark (%) 4.32 9.81 4.37 12.49 -12.71 25.47 -1.02 22.16 -12.47
  1y 3y 5y 10y Incept.
7.52 14.36 5.40 - 6.42
Benchmark (%) 11.90 14.74 5.31 - 6.57
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
11.65 -1.04 1.98 17.24 7.52 49.54 30.11 - 80.20
Benchmark (%) 13.87 1.47 3.88 18.94 11.90 51.07 29.50 - 82.66
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 GBP hedged Share Class Benchmark performance is displayed in EUR.

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 26-May-2023 EUR 1,185,881,777
Share Class Inception Date 13-Nov-2013
Fund Inception 04-Jan-1999
Share Class Currency GBP
Fund Base Currency EUR
Asset Class Equity
Benchmark MSCI EMU Index
SFDR Classification Article 8
Initial Charge 5.00%
Management Fee (incl Distribution Fee, if any) 1.50%
Performance Fee 0.00%
Minimum Initial Investment GBP 5000
Minimum Subsequent Investment GBP 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Equity
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BEMA2HG
ISIN LU0986743572
SEDOL BFXW7Y0
SFC-authorised ESG fund No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28-Apr-2023 47
Standard Deviation (3y) as of 30-Apr-2023 21.28%
3y Beta as of 30-Apr-2023 1.077
P/E Ratio as of 28-Apr-2023 20.45
P/B Ratio as of 28-Apr-2023 2.74

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-May-2023 AA
MSCI ESG % Coverage as of 19-May-2023 98.34
MSCI ESG Quality Score (0-10) as of 19-May-2023 7.90
MSCI ESG Quality Score - Peer Percentile as of 19-May-2023 42.61
Fund Lipper Global Classification as of 19-May-2023 Equity EuroZone
Funds in Peer Group as of 19-May-2023 399
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 19-May-2023 71.81
MSCI Weighted Average Carbon Intensity % Coverage as of 19-May-2023 97.56
All data is from MSCI ESG Fund Ratings as of 19-May-2023, based on holdings as of 31-Dec-2022. 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-Apr-2023 0.00%
MSCI - UN Global Compact Violators as of 28-Apr-2023 0.00%
MSCI - Nuclear Weapons as of 28-Apr-2023 2.79%
MSCI - Thermal Coal as of 28-Apr-2023 0.00%
MSCI - Civilian Firearms as of 28-Apr-2023 0.00%
MSCI - Oil Sands as of 28-Apr-2023 0.00%
MSCI - Tobacco as of 28-Apr-2023 0.00%

Business Involvement Coverage as of 28-Apr-2023 99.77%
Percentage of Fund not covered as of 28-Apr-2023 0.27%
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 3.19%.

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 combination with other information in the research and decision phases 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 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

Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 28-Apr-2023
Name Weight (%)
LVMH MOET HENNESSY LOUIS VUITTON SE 8.42
ASML HOLDING NV 7.76
SCHNEIDER ELECTRIC SE 4.28
SIEMENS AG 4.03
LINDE PLC 3.36
Name Weight (%)
TOTALENERGIES SE 3.17
BNP PARIBAS SA 3.16
PERNOD-RICARD SA 2.86
AIRBUS SE 2.77
VINCI SA 2.68
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-Apr-2023

% of Weight

Type Fund Benchmark Net
as of 28-Apr-2023

% 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 28-Apr-2023

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
A2 Hedged GBP Non-Distributing 18.44 0.24 1.32 26-May-2023 18.58 14.03 LU0986743572 -
A2 Hedged SGD Non-Distributing 28.34 0.36 1.29 26-May-2023 28.57 21.56 LU1270847343 -
C2 EUR Non-Distributing 29.07 0.38 1.32 26-May-2023 29.31 22.51 LU0147386493 -
D4 EUR Annually 34.39 0.44 1.30 26-May-2023 34.66 26.30 LU0827878363 -
A2 Hedged USD Non-Distributing 21.08 0.26 1.25 26-May-2023 21.24 15.89 LU0969580488 -
D2 USD Non-Distributing 47.82 0.66 1.40 26-May-2023 48.98 33.06 LU0827878280 -
D2 Hedged CHF Non-Distributing 20.87 0.27 1.31 26-May-2023 21.05 16.09 LU0906886691 -
C2 USD Non-Distributing 31.17 0.43 1.40 26-May-2023 32.00 21.82 LU0331283555 -
A2 Hedged CHF Non-Distributing 23.27 0.29 1.26 26-May-2023 23.47 18.03 LU0589470326 -
A4 GBP Annually 31.64 0.39 1.25 26-May-2023 32.47 24.23 LU0204061948 -
A4 EUR Annually 33.86 0.43 1.29 26-May-2023 34.14 26.02 LU0162689763 -
D4 GBP Annually 29.87 0.37 1.25 26-May-2023 30.58 22.76 LU0827878447 -
D2 Hedged USD Non-Distributing 19.76 0.24 1.23 26-May-2023 19.91 14.82 LU1185942403 -
A2 EUR Non-Distributing 39.15 0.50 1.29 26-May-2023 39.47 30.08 LU0093502762 -
D2 EUR Non-Distributing 44.59 0.57 1.29 26-May-2023 44.95 34.11 LU0252966485 -
A2 Hedged HKD Non-Distributing 148.69 1.85 1.26 26-May-2023 149.84 113.06 LU1791806182 -
A2 USD Non-Distributing 41.98 0.58 1.40 26-May-2023 43.04 29.16 LU0171277485 -
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Andreas Zoellinger
Andreas Zoellinger
Tom Joy
Tom Joy

Documents

Documents