Fixed Income

BGF Emerging Markets Local Currency 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

Chart

Performance chart data not available for display.
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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 5 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 (%) 14.7 -11.7 12.5 2.8 -7.7
Constraint Benchmark 1 (%) 15.2 -6.2 13.5 2.7 -8.7
  1y 3y 5y 10y Incept.
-18.12 -5.21 -3.41 - -2.02
Constraint Benchmark 1 (%) -19.28 -5.80 -2.31 - -1.39
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-14.01 -4.44 -7.65 -14.01 -18.12 -14.82 -15.91 - -11.08
Constraint Benchmark 1 (%) -14.53 -4.45 -8.63 -14.53 -19.28 -16.41 -11.01 - -7.75
  From
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
Total Return (%)

as of 30-Jun-2022

-6.55 5.63 -5.04 9.55 -18.12
Constraint Benchmark 1 (%)

as of 30-Jun-2022

-2.33 8.99 -2.82 6.57 -19.28

Key Facts

Key Facts

Net Assets of Fund as of 04-Jul-2022 USD 1,483,198,854
Share Class launch date 28-Sep-2016
Fund Launch Date 26-Jun-1997
Share Class Currency USD
Fund Base Currency USD
Asset Class Fixed Income
Constraint Benchmark 1 JP Morgan GBI-EM Global Diversified Index
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charges Figures 0.61%
Annual Management Fee 0.50%
Performance Fee 0.00%
Minimum Initial Investment USD 10,000,000.00
Minimum Subsequent Investment -
Distribution Frequency Quarterly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Emerging Markets Bond - Local Currency
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGLCI5U
ISIN LU1495982867
SEDOL BD87P42

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-May-2022 168
12m Trailing Yield as of 30-Jun-2022 6.25
Standard Deviation (3y) as of 30-Jun-2022 13.41%
3y Beta as of 30-Jun-2022 1.118
Yield to Maturity as of 31-May-2022 8.55
Modified Duration as of 31-May-2022 3.28
Weighted Average YTM as of 31-May-2022 8.55
Effective Duration as of 31-May-2022 3.27
Weighted Avg Maturity as of 31-May-2022 6.21
WAL to Worst as of 31-May-2022 6.21

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 BB
MSCI ESG % Coverage as of 06-May-2022 99.32
MSCI ESG Quality Score (0-10) as of 06-May-2022 3.52
MSCI ESG Quality Score - Peer Percentile as of 06-May-2022 26.52
Fund Lipper Global Classification as of 06-May-2022 Bond Emerging Markets Global LC
Funds in Peer Group as of 06-May-2022 264
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 06-May-2022 859.33
MSCI Weighted Average Carbon Intensity % Coverage as of 06-May-2022 0.49
All data is from MSCI ESG Fund Ratings as of 06-May-2022, based on holdings as of 31-Dec-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.

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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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for BGF Emerging Markets Local Currency Bond Fund, Class I5, as of 31-Dec-2017 rated against 602 Global Emerging Markets Bond - Local Currency Funds.

Holdings

Holdings

as of 31-May-2022
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 3.59
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2024 3.38
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2023 2.49
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 2.28
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.98
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 1.78
COLOMBIA REPUBLIC OF (GOVERNMENT) 10 07/24/2024 1.77
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 1.56
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.38
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 1.34
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 I5 USD Quarterly 7.06 0.02 0.28 04-Jul-2022 9.16 7.04 LU1495982867 -
Class I3 Hedged GBP Monthly 4.91 0.02 0.41 04-Jul-2022 6.36 4.89 LU0995336418 -
Class A2 Hedged EUR None 6.06 0.02 0.33 04-Jul-2022 7.61 6.04 LU0359002093 -
Class D3 Hedged GBP Monthly 4.91 0.02 0.41 04-Jul-2022 6.34 4.89 LU0995345831 -
Class A4 EUR Annual 11.31 -0.01 -0.09 04-Jul-2022 12.77 11.16 LU0478974834 -
Class D5 GBP Quarterly 6.90 -0.05 -0.72 04-Jul-2022 7.87 6.83 LU1694209807 -
Class A3 USD Monthly 2.87 0.01 0.35 04-Jul-2022 3.68 2.86 LU0278470132 -
Class I2 GBP - 17.94 -0.14 -0.77 04-Jul-2022 19.39 17.31 LU1741217027 -
Class A3 EUR Monthly 2.75 0.00 0.00 04-Jul-2022 3.11 2.73 LU0278457469 -
Class D2 USD None 21.67 0.08 0.37 04-Jul-2022 26.64 21.52 LU0383940458 -
Class A4 USD Annual 11.82 0.04 0.34 04-Jul-2022 15.10 11.74 LU0548402170 -
Class A1 USD Monthly 2.85 0.00 0.00 04-Jul-2022 3.66 2.85 LU0278477574 -
Class A1 EUR Monthly 2.73 -0.01 -0.36 04-Jul-2022 3.09 2.71 LU0278461065 -
Class I5 EUR Quarterly 6.76 -0.01 -0.15 04-Jul-2022 7.74 6.71 LU0995350831 -
Class A6 USD Monthly 6.04 0.02 0.33 04-Jul-2022 7.89 6.02 LU1408528211 -
Class A2 USD None 20.14 0.07 0.35 04-Jul-2022 24.86 20.01 LU0278470058 -
Class D3 USD Monthly 11.87 0.04 0.34 04-Jul-2022 15.24 11.83 LU0523291242 -
Class D2 Hedged EUR None 6.27 0.02 0.32 04-Jul-2022 7.85 6.25 LU0622213642 -
Class A2 EUR None 19.28 -0.01 -0.05 04-Jul-2022 21.15 19.02 LU0278457204 -
Class D3 EUR Monthly 11.37 -0.01 -0.09 04-Jul-2022 12.86 11.30 LU0827884924 -
Class I2 Hedged EUR None 6.49 0.02 0.31 04-Jul-2022 8.11 6.47 LU0473186707 -
Class D4 USD Annual 11.88 0.04 0.34 04-Jul-2022 15.18 11.80 LU0827885228 -
Class D2 EUR None 20.74 -0.02 -0.10 04-Jul-2022 22.72 20.45 LU0329592702 -
Class D2 Hedged GBP None 11.96 0.04 0.34 04-Jul-2022 14.80 11.89 LU0827885491 -
Class A6 Hedged GBP Monthly 5.49 0.02 0.37 04-Jul-2022 7.22 5.47 LU1408528302 -
Class I2 USD None 21.78 0.07 0.32 04-Jul-2022 26.75 21.63 LU0520955575 -
Class D4 EUR Annual 11.37 -0.01 -0.09 04-Jul-2022 12.85 11.21 LU0827885145 -

Portfolio Managers

Portfolio Managers

Laurent Develay
Laurent Develay
Amer Bisat
Amer Bisat
Laurent Develay
Laurent Develay
Michal Wozniak
Michal Wozniak

Literature

Literature