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BlackRock Emerging Markets Local Currency Bond Fund

IMPORTANT:
• The Fund may invest in debt securities that are subject to actual or perceived ratings downgrade. The Fund invests in certain emerging markets and may be subject to political, tax, economic, social and foreign exchange risks. The Fund may invest in non-investment grade and unrated bonds that may be subject to higher default, volatility and liquidity risks. The Fund invests in bonds issued or guaranteed by governments or authorities, which may involve political, economic, default or other risks.
• The Fund is subject to currency risk, foreign investments restrictions risk, interest rate risk, liquidity risk, securities lending counterparty risk and contingent convertible bonds risk.
• 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 extensively for investment purposes. Risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The Fund’s volatility may increase or decrease from its derivative usage, and may suffer losses.
• 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

Distributions

Ex-Date Distribution
View full table
  1y 3y 5y 10y Incept.
0.44 -2.78 - - 0.40
  YTD 6m 1y 3y 5y 10y Incept.
-3.70 6.65 0.44 -8.10 - - 1.83
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 04-Dec-2020 USD 2,517.950 M
Base Currency USD
Fund Inception 26-Jun-1997
Share Class Currency GBP
Share Class Inception Date 11-May-2016
Additional Currencies AUD, CAD, CHF, CZK, EUR, HKD, NZD, PLN, SEK, SGD, USD
Asset Class -
Morningstar Category Other Bond
Benchmark Index JP Morgan GBI-EM Global Diversified Index
Distribution Frequency Monthly
ISIN LU1408528302
Bloomberg Ticker BGELA6G
Management Fee (incl Distribution Fee, if any) 1.00%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Oct-2020 5.27
Modified Duration as of 30-Oct-2020 5.84 yrs
12M Trailing Distribution as of 30-Nov-2020 6.82%
Effective Duration as of 30-Oct-2020 5.75
3y Volatility as of 30-Nov-2020 15.23
3y Volatility - Benchmark as of 30-Nov-2020 12.40
3y Beta as of 30-Nov-2020 1.209
5yr Volatility as of - -
5y Volatility - Benchmark as of - -
5y Beta as of - -
Since Class Inception – Volatility as of 30-Nov-2020 13.30
Since Class Inception Volatility – Benchmark as of 30-Nov-2020 11.36
Since Class Inception - Beta as of 30-Nov-2020 1.14

Ratings

Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Oct-2020
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 3.25
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 2.81
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 2.54
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.13 11/21/2029 2.04
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2023 1.92
Name Weight (%)
PERU (REPUBLIC OF) 6.35 08/12/2028 1.80
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.69
COLOMBIA (REPUBLIC OF) 7.5 08/26/2026 1.66
BRAZIL (FEDERATIVE REPUBLIC OF) 0 07/01/2022 1.62
MEXICO (UNITED MEXICAN STATES) 7.5 06/03/2027 1.57
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-Oct-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-Oct-2020

% of Weight

Type Fund Benchmark Net
as of 30-Oct-2020

% of Weight

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

% of Weight

Type Fund Benchmark Net
as of 30-Oct-2020

% of Weight

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch. This breakdown is provided by BlackRock and takes the middle rating of the agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Ratings and portfolio credit quality may change over 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.
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
A6 Hedged GBP Monthly 7.62 0.04 0.53 04-Dec-2020 8.30 6.37 LU1408528302
A1 USD Monthly (Daily Calculation) 3.81 0.02 0.53 04-Dec-2020 3.97 3.09 LU0278477574
D2 Hedged EUR Non-Distributing 7.95 0.04 0.51 04-Dec-2020 8.09 6.30 LU0622213642
D2 USD Non-Distributing 26.78 0.14 0.53 04-Dec-2020 26.78 20.97 LU0383940458
A2 CHF Non-Distributing 22.31 0.09 0.41 04-Dec-2020 24.47 19.35 LU0938162186
A2 USD Non-Distributing 25.08 0.13 0.52 04-Dec-2020 25.12 19.72 LU0278470058
C2 USD Non-Distributing 21.10 0.11 0.52 04-Dec-2020 21.37 16.73 LU0278476923
A4 USD Annually 15.36 0.08 0.52 04-Dec-2020 16.12 12.65 LU0548402170
A3 HKD Monthly 29.73 0.15 0.51 04-Dec-2020 31.15 24.14 LU0388349754
D2 CHF Non-Distributing 23.82 0.10 0.42 04-Dec-2020 26.02 20.58 LU1065150267
A1 EUR Monthly (Daily Calculation) 3.14 0.02 0.64 04-Dec-2020 3.62 2.86 LU0278461065
A4 EUR Annually 12.63 0.06 0.48 04-Dec-2020 14.75 11.71 LU0478974834
D2 Hedged CHF Non-Distributing 9.10 0.05 0.55 04-Dec-2020 9.25 7.21 LU1688375184
A3 EUR Monthly 3.16 0.02 0.64 04-Dec-2020 3.64 2.88 LU0278457469
A2 Hedged SEK Non-Distributing 91.99 0.46 0.50 04-Dec-2020 94.00 73.09 LU1715605868
A8 Hedged AUD Monthly 6.63 0.03 0.45 04-Dec-2020 7.15 5.49 LU1133072774
A2 Hedged SGD Non-Distributing 8.66 0.05 0.58 04-Dec-2020 8.76 6.83 LU0358998713
A2 EUR Non-Distributing 20.63 0.11 0.54 04-Dec-2020 22.99 18.26 LU0278457204
D3 Hedged GBP Monthly 6.62 0.04 0.61 04-Dec-2020 7.04 5.42 LU0995345831
A2 Hedged EUR Non-Distributing 7.74 0.04 0.52 04-Dec-2020 7.91 6.16 LU0359002093
A3 USD Monthly 3.84 0.02 0.52 04-Dec-2020 4.00 3.11 LU0278470132
A6 Hedged SGD Monthly 7.52 0.04 0.53 04-Dec-2020 8.11 6.25 LU1676225185
D5 GBP Quarterly 8.35 0.00 0.00 04-Dec-2020 9.01 7.56 LU1694209807
D3 USD Monthly 15.87 0.09 0.57 04-Dec-2020 16.55 12.88 LU0523291242
A6 USD Monthly 8.31 0.05 0.61 04-Dec-2020 8.86 6.87 LU1408528211
D2 Hedged GBP Non-Distributing 14.91 0.07 0.47 04-Dec-2020 15.15 11.78 LU0827885491
D2 Hedged PLN Non-Distributing 10.57 0.05 0.48 04-Dec-2020 10.71 8.34 LU0827884684
A2 Hedged PLN Non-Distributing 10.15 0.05 0.50 04-Dec-2020 10.33 8.04 LU0480535052
C1 USD Monthly (Daily Calculation) 3.81 0.02 0.53 04-Dec-2020 3.97 3.08 LU0278478119
D2 EUR Non-Distributing 22.03 0.12 0.55 04-Dec-2020 24.44 19.42 LU0329592702
D3 HKD Monthly 122.97 0.62 0.51 04-Dec-2020 128.86 99.87 LU0827885061
D3 Hedged AUD Monthly 6.27 0.03 0.48 04-Dec-2020 6.67 5.13 LU0827884841
A3 HEDGED AUD Monthly 6.27 0.03 0.48 04-Dec-2020 6.67 5.13 LU0575500318
D4 USD Annually 15.40 0.08 0.52 04-Dec-2020 16.17 12.70 LU0827885228
A2 Hedged CHF Non-Distributing 7.56 0.04 0.53 04-Dec-2020 7.72 6.01 LU0623004180
C2 EUR Non-Distributing 17.36 0.10 0.58 04-Dec-2020 19.53 15.49 LU0278457972
D2 Hedged SGD Non-Distributing 9.03 0.05 0.56 04-Dec-2020 9.10 7.10 LU0827884767
A6 Hedged HKD Monthly 82.65 0.43 0.52 04-Dec-2020 88.22 68.40 LU1408528484
A8 Hedged NZD Monthly 8.25 0.04 0.49 04-Dec-2020 8.90 6.84 LU1408528724
A6 Hedged CAD Monthly 8.13 0.04 0.49 04-Dec-2020 8.79 6.78 LU1408528641
D4 EUR Annually 12.67 0.07 0.56 04-Dec-2020 14.80 11.76 LU0827885145
A2 CZK Non-Distributing 546.75 4.56 0.84 04-Dec-2020 573.35 507.04 LU1791177113
D3 EUR Monthly 13.05 0.07 0.54 04-Dec-2020 15.07 11.92 LU0827884924

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Sergio Trigo Paz
Laurent Develay
Laurent Develay
Michal Wozniak
Michal Wozniak

Documents

Documents