Equity

BGF European Equity Income Fund

Overview

Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. This Share Class may pay dividends or take charges from capital.While this may allow more income to be distributed, it may reduce the value of your holdings and impact the potential for long term capital growth. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

Loading

Performance

Performance

Chart

Performance chart data not available for display.
View full chart

Reinvestments

This product does not have any distributions data as of now.

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 26.9 12.9 16.4 -6.2 11.3 -12.3 27.6 0.8 21.0 -11.2
Constraint Benchmark 1 (%) 19.8 6.8 8.2 2.6 10.2 -10.6 26.0 -3.3 25.1 -9.5

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

  1y 3y 5y 10y Incept.
7.81 5.91 7.49 6.35 7.78
Constraint Benchmark 1 (%) 7.77 8.99 7.81 6.18 6.85
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
9.74 7.43 1.01 1.16 7.81 18.80 43.52 85.08 162.02
Constraint Benchmark 1 (%) 11.69 6.44 1.03 2.93 7.77 29.48 45.62 82.08 134.50
  From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
From
30-Sep-2022
To
30-Sep-2023
Total Return (%)

as of 30-Sep-2023

8.63 -1.76 19.51 -10.78 15.74
Constraint Benchmark 1 (%)

as of 30-Sep-2023

5.74 -7.76 28.76 -11.04 19.22

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 06-Dec-2023 EUR 1,546,193,329
Share Class launch date 21-Jan-2011
Fund Launch Date 03-Dec-2010
Share Class Currency EUR
Fund Base Currency EUR
Asset Class Equity
Constraint Benchmark 1 MSCI Europe Index
SFDR Classification Article 8
Initial Charge 5.00%
Ongoing Charges Figures 1.08%
ISIN LU0579997130
Annual Management Fee 0.75%
Performance Fee 0.00%
Minimum Initial Investment EUR 100,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Europe Equity Income
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker XMHJ GR
SEDOL B45M967

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Oct-2023 47
Standard Deviation (3y) as of 30-Nov-2023 13.58%
3y Beta as of 30-Nov-2023 0.934
P/E Ratio as of 31-Oct-2023 17.13
P/B Ratio as of 31-Oct-2023 2.11

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 25-Oct-2023 AA
MSCI ESG % Coverage as of 25-Oct-2023 99.15
MSCI ESG Quality Score (0-10) as of 25-Oct-2023 7.90
MSCI ESG Quality Score - Peer Percentile as of 25-Oct-2023 43.10
Fund Lipper Global Classification as of 25-Oct-2023 Equity Europe Income
Funds in Peer Group as of 25-Oct-2023 116
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 25-Oct-2023 133.12
MSCI Weighted Average Carbon Intensity % Coverage as of 25-Oct-2023 97.85
All data is from MSCI ESG Fund Ratings as of 25-Oct-2023, based on holdings as of 31-May-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 31-Oct-2023 0.00%
MSCI - UN Global Compact Violators as of 31-Oct-2023 0.00%
MSCI - Nuclear Weapons as of 31-Oct-2023 0.00%
MSCI - Thermal Coal as of 31-Oct-2023 0.00%
MSCI - Civilian Firearms as of 31-Oct-2023 0.00%
MSCI - Oil Sands as of 31-Oct-2023 0.00%
MSCI - Tobacco as of 31-Oct-2023 0.00%

Business Involvement Coverage as of 31-Oct-2023 100.07%
Percentage of Fund not covered as of 31-Oct-2023 0.01%
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 2.99%.

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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BGF European Equity Income Fund, Class D2, as of 30-Nov-2023 rated against 344 Europe Equity Income Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 29-Jun-2023)

Holdings

Holdings

as of 31-Oct-2023
Name Weight (%)
NOVO NORDISK A/S 5.10
NESTLE SA 4.27
VINCI SA 4.07
TRYG A/S 3.68
SANOFI SA 3.40
Name Weight (%)
RELX PLC 3.25
CRH PLC 2.99
SHELL PLC 2.97
ASML HOLDING NV 2.95
SIEMENS AG 2.93
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-2023

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-2023

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-2023

% of Market Value

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.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class D2 EUR 27.54 0.15 0.55 06-Dec-2023 27.58 24.42 LU0579997130
Class A6 EUR 10.94 0.06 0.55 06-Dec-2023 11.27 10.01 LU1051768569
Class I2 USD 15.49 0.02 0.13 06-Dec-2023 15.67 13.50 LU2091194477
Class D2 Hedged USD 16.66 0.10 0.60 06-Dec-2023 16.66 14.43 LU1185942585
Class D2 USD 29.72 0.04 0.13 06-Dec-2023 30.11 25.97 LU1984140779
Class A2 USD 27.18 0.04 0.15 06-Dec-2023 27.66 23.92 LU2091194634
Class I2 EUR 14.36 0.08 0.56 06-Dec-2023 14.36 12.70 LU1222728690
Class D6 Hedged USD 11.21 0.06 0.54 06-Dec-2023 11.36 10.12 LU1200839964
Class A8 Hedged USD 10.25 0.06 0.59 06-Dec-2023 10.56 9.38 LU2114397693
Class A6 Hedged GBP 14.31 0.07 0.49 06-Dec-2023 14.65 13.08 LU1051771274
Class A6 Hedged USD 13.05 0.07 0.54 06-Dec-2023 13.29 11.87 LU1019632923
Class A2 EUR 25.18 0.13 0.52 06-Dec-2023 25.33 22.49 LU0562822386
Class A2 Hedged USD 18.33 0.10 0.55 06-Dec-2023 18.33 16.00 LU1153584641

Portfolio Managers

Portfolio Managers

Andreas Zoellinger
Andreas Zoellinger
Brian Hall
Managing Director

  

Literature

Literature