Equity

BlackRock European Fund

IMPORTANT:
•The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. 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, geographical concentration risk in Europe, smaller companies’ volatility and liquidity risks, contingent convertible bonds risk and currency conversion risk including Renminbi denominated Classes.
•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

Loading

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 full Chart

Distributions

Ex-Date Distribution
View full table

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 33.21 21.18 29.93 -24.17 18.60
Benchmark (%) 26.05 -3.32 25.13 -9.49 15.83

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

  1y 3y 5y 10y Incept.
14.21 4.58 11.47 - 10.30
Benchmark (%) 10.98 8.15 7.80 - 7.55
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
8.70 -2.67 6.71 22.65 14.21 14.37 72.08 - 76.66
Benchmark (%) 6.65 -0.91 5.00 17.73 10.98 26.51 45.60 - 52.53
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 EUR, 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 21-May-2024 EUR 1,448,041,260
Share Class Inception Date 11-Jul-2018
Fund Inception 30-Nov-1993
Share Class Currency EUR
Fund Base Currency EUR
Asset Class Equity
Benchmark MSCI Europe Index
SFDR Classification Article 8
Initial Charge 5.00%
ISIN LU1852330817
Management Fee (incl Distribution Fee, if any) 0.75%
Performance Fee 0.00%
Minimum Initial Investment EUR 100000
Minimum Subsequent Investment EUR 1000
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Europe Large-Cap Growth Equity
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGEUD4E
SEDOL BD38WP0
SFC-authorised ESG fund No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30-Apr-2024 35
12M Trailing Distribution as of 30-Apr-2024 0.73%
Standard Deviation (3y) as of 30-Apr-2024 19.15%
3y Beta as of 30-Apr-2024 1.235
P/E Ratio as of 30-Apr-2024 23.44
P/B Ratio as of 30-Apr-2024 3.79

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-Apr-2024 AA
MSCI ESG % Coverage as of 21-Apr-2024 99.38
MSCI ESG Quality Score (0-10) as of 21-Apr-2024 7.89
MSCI ESG Quality Score - Peer Percentile as of 21-Apr-2024 50.25
Fund Lipper Global Classification as of 21-Apr-2024 Equity Europe
Funds in Peer Group as of 21-Apr-2024 1,019
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Apr-2024 69.45
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Apr-2024 98.26
All data is from MSCI ESG Fund Ratings as of 21-Apr-2024, based on holdings as of 31-Dec-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 30-Apr-2024 0.00%
MSCI - UN Global Compact Violators as of 30-Apr-2024 0.00%
MSCI - Nuclear Weapons as of 30-Apr-2024 0.00%
MSCI - Thermal Coal as of 30-Apr-2024 0.00%
MSCI - Civilian Firearms as of 30-Apr-2024 2.35%
MSCI - Oil Sands as of 30-Apr-2024 0.00%
MSCI - Tobacco as of 30-Apr-2024 0.00%

Business Involvement Coverage as of 30-Apr-2024 98.37%
Percentage of Fund not covered as of 30-Apr-2024 1.53%
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 0.00%.

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

4 stars
As of 30-Apr-2024

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Effective 27-Jun-2023
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Apr-2024
Name Weight (%)
NOVO NORDISK A/S 9.40
ASML HOLDING NV 6.63
LVMH MOET HENNESSY LOUIS VUITTON SE 5.67
LINDE PLC 4.42
SCHNEIDER ELECTRIC SE 4.13
Name Weight (%)
MTU AERO ENGINES AG 3.98
RELX PLC 3.41
COMPAGNIE DE SAINT GOBAIN SA 3.22
LONDON STOCK EXCHANGE GROUP PLC 3.12
FERRARI NV 3.10
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-Apr-2024

% of Weight

Type Fund Benchmark Net
as of 30-Apr-2024

% of Weight

Type Fund Benchmark Net
Allocations are subject to change. Source: BlackRock
as of 30-Apr-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
D4 EUR 187.25 0.34 0.18 21-May-2024 187.98 146.64 LU1852330817
A4 GBP 155.89 -0.26 -0.17 21-May-2024 157.38 125.22 LU0204061864
C2 USD 154.35 0.16 0.10 21-May-2024 155.07 119.16 LU0338175176
A2 Hedged GBP 19.91 0.03 0.15 21-May-2024 19.99 15.55 LU1023060665
A2 Hedged CAD 21.11 0.04 0.19 21-May-2024 21.19 16.50 LU1023060079
D2 Hedged USD 31.28 0.06 0.19 21-May-2024 31.40 24.26 LU0827890574
A2 Hedged AUD 21.32 0.04 0.19 21-May-2024 21.40 16.74 LU1023059733
C2 EUR 142.26 0.23 0.16 21-May-2024 142.85 112.68 LU0147391493
A2 Hedged SGD 23.50 0.04 0.17 21-May-2024 23.60 18.48 LU0963555726
D2 EUR 224.64 0.41 0.18 21-May-2024 225.51 175.91 LU0252966055
D4 GBP 159.82 -0.26 -0.16 21-May-2024 161.33 127.83 LU0827879098
D2 USD 243.73 0.30 0.12 21-May-2024 244.81 186.03 LU0411709727
A2 Hedged USD 32.54 0.06 0.18 21-May-2024 32.67 25.35 LU0526926950
A2 EUR 195.72 0.34 0.17 21-May-2024 196.50 153.93 LU0011846440
A4 EUR 181.78 0.31 0.17 21-May-2024 182.51 142.97 LU0408221439
A2 Hedged CNH 197.15 0.31 0.16 21-May-2024 197.99 155.74 LU1210724834
A2 Hedged HKD 30.70 0.05 0.16 21-May-2024 30.83 24.05 LU0788108743
A2 Hedged NZD 22.65 0.04 0.18 21-May-2024 22.74 17.67 LU1023060319
A2 USD 212.35 0.24 0.11 21-May-2024 213.32 162.78 LU0171280430
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Stefan Gries
Stefan Gries

Documents

Documents