Fixed Income

BGF Emerging Markets Bond 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.

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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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This chart shows the fund's performance as the percentage loss or gain per year over the last 9 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) -8.45 20.89 10.29 16.72 -5.10 -1.92 15.07 -2.34 5.55
Constraint Benchmark 1 (%) -9.35 22.34 12.71 13.45 -3.15 0.57 17.15 -3.43 5.66
  1y 3y 5y 10y Incept.
-2.43 -0.12 0.65 - 4.05
Constraint Benchmark 1 (%) -3.78 -0.80 1.03 - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-6.83 -2.22 0.91 -4.86 -2.43 -0.37 3.29 - 47.04
Constraint Benchmark 1 (%) -9.80 -1.50 -1.88 -9.47 -3.78 -2.37 5.28 - -
  From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
Total Return (%)

as of 31-Dec-2021

-5.10 -1.92 15.07 -2.34 5.55
Constraint Benchmark 1 (%)

as of 31-Dec-2021

-3.15 0.57 17.15 -3.43 5.66

Key Facts

Key Facts

Net Assets of Fund as of 27-Jun-2022 USD 961,871,240
Share Class launch date 13-Sep-2012
Fund Launch Date 01-Oct-2004
Share Class Currency EUR
Fund Base Currency USD
Asset Class Fixed Income
Constraint Benchmark 1 JP Morgan Global Diversified EMBI Index in EUR
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 0.88%
Annual Management Fee 0.65%
Performance Fee 0.00%
Minimum Initial Investment EUR 100,000.00
Minimum Subsequent Investment EUR 1,000.00
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Emerging Markets Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGEMD3E
ISIN LU0827877126
SEDOL B875854

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-May-2022 407
12m Trailing Yield as of 31-May-2022 4.40
Standard Deviation (3y) as of 31-May-2022 12.97%
3y Beta as of 31-May-2022 1.147
Yield to Maturity as of 31-May-2022 7.72
Modified Duration as of 31-May-2022 6.13
Weighted Average YTM as of 31-May-2022 7.72
Effective Duration as of 31-May-2022 6.26
Weighted Avg Maturity as of 31-May-2022 11.99
WAL to Worst as of 31-May-2022 11.99

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 06-May-2022 B
MSCI ESG % Coverage as of 06-May-2022 96.05
MSCI ESG Quality Score (0-10) as of 06-May-2022 2.56
MSCI ESG Quality Score - Peer Percentile as of 06-May-2022 13.00
Fund Lipper Global Classification as of 06-May-2022 Bond Emerging Markets Global HC
Funds in Peer Group as of 06-May-2022 423
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 06-May-2022 923.73
MSCI Weighted Average Carbon Intensity % Coverage as of 06-May-2022 14.01
All data is from MSCI ESG Fund Ratings as of 06-May-2022, based on holdings as of 30-Nov-2021. 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% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch.

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-May-2022 0.00%
MSCI - UN Global Compact Violators as of 31-May-2022 4.33%
MSCI - Nuclear Weapons as of 31-May-2022 0.00%
MSCI - Thermal Coal as of 31-May-2022 0.00%
MSCI - Civilian Firearms as of 31-May-2022 0.00%
MSCI - Oil Sands as of 31-May-2022 0.00%
MSCI - Tobacco as of 31-May-2022 0.00%

Business Involvement Coverage as of 31-May-2022 11.87%
Percentage of Fund not covered as of 31-May-2022 87.78%
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 1.28%.

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 due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. 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.

Risk Indicator

Risk Indicator

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3
4
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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31-May-2022
Name Weight (%)
BGF EM Corporate Bond Fund X2 USD 4.89
COLOMBIA REPUBLIC OF (GOVERNMENT) 5 06/15/2045 1.50
OMAN SULTANATE OF (GOVERNMENT) RegS 6.5 03/08/2047 1.40
QATAR (STATE OF) RegS 3.75 04/16/2030 1.20
DOMINICAN REPUBLIC (GOVERNMENT) RegS 6 02/22/2033 1.08
Name Weight (%)
NIGERIA (FEDERAL REPUBLIC OF) MTN RegS 7.143 02/23/2030 1.02
QATAR (STATE OF) RegS 4.817 03/14/2049 0.99
OMAN SULTANATE OF (GOVERNMENT) RegS 6.75 01/17/2048 0.99
PANAMA REPUBLIC OF (GOVERNMENT) 3.875 03/17/2028 0.98
ECUADOR REPUBLIC OF (GOVERNMENT) RegS 1 07/31/2035 0.97
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-May-2022

% of Market Value

Type Fund Benchmark Net
as of 31-May-2022

% of Market Value

Type Fund Benchmark Net
as of 31-May-2022

% of Market Value

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 country where the issuer of the securities carries out much of their business.
as of 31-May-2022

% of Market Value

Type Fund Benchmark Net
as of 31-May-2022

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class D3 EUR Monthly 7.55 -0.08 -1.05 27-Jun-2022 8.82 7.55 LU0827877126 -
Class I5 Hedged EUR Quarterly 7.09 -0.05 -0.70 27-Jun-2022 9.45 7.09 LU1323999216 -
Class A3 EUR Monthly 7.53 -0.08 -1.05 27-Jun-2022 8.80 7.53 LU0200684008 -
Class I4 USD Annual 8.10 -0.06 -0.74 27-Jun-2022 10.50 8.10 LU1806518293 -
Class I2 Hedged EUR None 9.86 -0.07 -0.70 27-Jun-2022 12.57 9.86 LU1057294727 -
Class D2 EUR None 16.72 -0.17 -1.01 27-Jun-2022 19.03 16.72 LU0827877043 -
Class A3 USD Monthly 7.97 -0.06 -0.75 27-Jun-2022 10.35 7.97 LU0200680782 -
Class I4 Hedged EUR Annual 7.89 -0.06 -0.75 27-Jun-2022 10.37 7.89 LU2075911060 -
Class I2 EUR None 15.13 -0.15 -0.98 27-Jun-2022 17.21 15.13 LU1048586868 -
Class A1 EUR Monthly 7.27 -0.08 -1.09 27-Jun-2022 8.51 7.27 LU0200683703 -
Class A2 Hedged EUR None 13.68 -0.09 -0.65 27-Jun-2022 17.54 13.68 LU0413376566 -
Class D2 USD None 17.70 -0.12 -0.67 27-Jun-2022 22.27 17.70 LU0297941386 -
Class I4 Hedged GBP Annual 8.04 -0.05 -0.62 27-Jun-2022 10.45 8.04 LU2075910922 -
Class I2 USD None 16.02 -0.11 -0.68 27-Jun-2022 20.13 16.02 LU1180455567 -
Class A6 USD Monthly 6.63 -0.05 -0.75 27-Jun-2022 8.74 6.63 LU0764617162 -
Class A6 Hedged GBP Monthly 6.67 -0.05 -0.74 27-Jun-2022 8.82 6.67 LU1408527916 -
Class A2 USD None 16.19 -0.11 -0.67 27-Jun-2022 20.47 16.19 LU0200680600 -
Class A2 EUR None 15.30 -0.15 -0.97 27-Jun-2022 17.48 15.30 LU0200683885 -
Class I2 Hedged GBP - 8.76 -0.06 -0.68 27-Jun-2022 11.05 8.76 LU1806518533 -
Class A1 USD Monthly 7.70 -0.05 -0.65 27-Jun-2022 10.00 7.70 LU0200680436 -
Class A2 Hedged GBP None 9.88 -0.07 -0.70 27-Jun-2022 12.54 9.88 LU1057296771 -
Class A4 EUR Annual 10.56 -0.10 -0.94 27-Jun-2022 12.27 10.56 LU1072326561 -
Class D2 Hedged EUR None 14.48 -0.10 -0.69 27-Jun-2022 18.48 14.48 LU0827877399 -
Class D3 USD Monthly 7.99 -0.06 -0.75 27-Jun-2022 10.37 7.99 LU0827876821 -

Portfolio Managers

Portfolio Managers

Amer Bisat
Amer Bisat
Michel Aubenas
Michel Aubenas
Amer Bisat
Amer Bisat

Literature

Literature