Fixed Income

BGF ESG 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.

Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.
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Performance

Performance

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Reinvestments

This product does not have any distributions data as of now.
  From
30-Jun-2016
To
30-Jun-2017
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
Total Return (%)

as of 30-Jun-2021

- - - -0.38 9.30
Benchmark (%)

as of 30-Jun-2021

- - - 2.19 6.70
  1y 3y 5y 10y Incept.
4.79 5.79 - - 4.81
Benchmark (%)

as of 31-Aug-2021

3.69 7.31 - - 6.68
  YTD 1m 3m 1y 3y 5y 10y Incept.
0.26 0.96 0.78 4.79 18.39 - - 15.90
Benchmark (%)

as of 31-Aug-2021

0.36 1.02 2.22 3.69 23.59 - - 22.52

Key Facts

Key Facts

Size of Fund (Millions) as of 27-Sep-2021 USD 534.89
12m Trailing Yield -
Number of Holdings as of 31-Aug-2021 259
Base Currency U.S. Dollar
Fund Launch Date 09-Jul-2018
Share Class launch date 09-Jul-2018
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Bond - EUR Biased
Benchmark Index J.P. Morgan ESG EMBI Global Diversified Index
SFDR Classification Article 8
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 0.86%
ISIN LU1817795351
Bloomberg Ticker BGBD2EH
Annual Management Fee 0.65%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BG0X0R7
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 100,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of 31-Aug-2021 10.05
3y Beta as of 31-Aug-2021 1.044
5y Volatility - Benchmark as of - -
5y Beta as of - -

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of 07-Sep-2021 BB
MSCI ESG Quality Score (0-10) as of 07-Sep-2021 3.43
MSCI ESG Quality Score - Peer Percentile as of 07-Sep-2021 67.30
MSCI ESG % Coverage as of 07-Sep-2021 98.32
Fund Lipper Global Classification as of 07-Sep-2021 Bond Emerging Markets Global HC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07-Sep-2021 310.22
Funds in Peer Group as of 07-Sep-2021 419
All data is from MSCI ESG Fund Ratings as of 07-Sep-2021, based on holdings as of 30-Apr-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 covered 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-Aug-2021 0.00%
MSCI - UN Global Compact Violators as of 31-Aug-2021 0.00%
MSCI - Nuclear Weapons as of 31-Aug-2021 0.00%
MSCI - Thermal Coal as of 31-Aug-2021 0.00%
MSCI - Civilian Firearms as of 31-Aug-2021 0.00%
MSCI - Oil Sands as of 31-Aug-2021 0.00%
MSCI - Tobacco as of 31-Aug-2021 0.00%

Business Involvement Coverage as of 31-Aug-2021 4.47%
Percentage of Fund not covered as of 31-Aug-2021 95.63%
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%.

Metrics have been reported based on MSCI data for consistency with MSCI fund rating, this fund is managed using data from Sustainalytics.


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

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

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for BGF ESG Emerging Markets Bond Fund, Class D2 Hedged, as of 31-Aug-2021 rated against 718 Global Emerging Markets Bond - EUR Biased Funds.

Holdings

Holdings

as of 31-Aug-2021
Name Weight (%)
CHILE (REPUBLIC OF) 2.55 01/27/2032 1.81
ROMANIA (REPUBLIC OF) MTN RegS 3 02/14/2031 1.55
ABU DHABI (EMIRATE OF) MTN RegS 2.5 09/30/2029 1.55
PANAMA REPUBLIC OF (GOVERNMENT) 3.875 03/17/2028 1.43
UKRAINE (GOVERNMENT OF) RegS 1.258 05/31/2040 1.42
Name Weight (%)
URUGUAY (ORIENTAL REPUBLIC OF) 4.375 01/23/2031 1.42
SOUTH AFRICA (REPUBLIC OF) 4.85 09/30/2029 1.39
PANAMA REPUBLIC OF (GOVERNMENT) 3.16 01/23/2030 1.38
OMAN SULTANATE OF (GOVERNMENT) RegS 6.5 03/08/2047 1.21
BRAZIL FEDERATIVE REPUBLIC OF (GOV 3.875 06/12/2030 1.21
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Aug-2021

% of Market Value

Type Fund Benchmark Net
as of 31-Aug-2021

% of Market Value

Type Fund Benchmark Net
as of 31-Aug-2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 31-Aug-2021

% of Market Value

Type Fund Benchmark Net
as of 31-Aug-2021

% of Market Value

Type Fund Benchmark Net
as of 31-Aug-2021

% 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 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class D2 Hedged EUR None 11.38 -0.06 -0.52 11.64 10.86 - LU1817795351 - -
Class I2 EUR - 10.78 -0.05 -0.46 10.95 10.12 - LU1864665515 - -
Class I2 USD - 12.62 -0.07 -0.55 12.89 11.91 - LU1864665432 - -
Class D6 USD Monthly 9.93 -0.06 -0.60 10.24 9.93 - LU2337650662 - -
Class D2 USD None 12.27 -0.07 -0.57 12.54 11.60 - LU1817794974 - -
Class I2 Hedged EUR - 11.76 -0.06 -0.51 12.02 11.20 - LU1864665606 - -
Class A2 USD None 11.98 -0.07 -0.58 12.25 11.39 - LU1860487849 - -
Class A6 USD Monthly 9.91 -0.05 -0.50 10.23 9.91 - LU2337650316 - -
Class D2 Hedged GBP - 10.09 -0.06 -0.59 10.31 9.73 - LU2290526248 - -
Class A2 Hedged EUR None 11.17 -0.06 -0.53 11.46 10.72 - LU1817795278 - -

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Sergio Trigo Paz
Michel Aubenas
Michel Aubenas
Kirill Veretinskii
Kirill Veretinskii

Literature

Literature