Equity

BGF Next Generation Technology 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.

Investments in the technology securities are subject to absence or loss of intellectual property protections, rapid changes in technology, government regulation and competition. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. 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. 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.

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Performance

Performance

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This chart shows the fund's performance as the percentage loss or gain per year over the last 5 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 45.3 113.7 1.3 -52.6 30.6
Comparator Benchmark 1 (%) 26.6 16.3 18.5 -18.4 22.2

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

  1y 3y 5y 10y Incept.
23.44 -12.37 11.23 - 14.62
Comparator Benchmark 1 (%) 19.38 5.43 10.76 - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
16.30 7.46 6.49 16.30 23.44 -32.71 70.23 - 113.30
Comparator Benchmark 1 (%) 11.30 2.23 2.87 11.30 19.38 17.20 66.66 - -
  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of 30-Jun-2024

49.32 69.43 -51.39 12.13 23.44
Comparator Benchmark 1 (%)

as of 30-Jun-2024

2.11 39.26 -15.75 16.53 19.38

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 USD.

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 19-Jul-2024
USD 2,630,146,933
Fund Launch Date
04-Sept-2018
Fund Base Currency
USD
Comparator Benchmark 1
MSCI All Country World Index (Net Total Return) (USD)
Initial Charge
-
ISIN
LU1917165158
Performance Fee
-
Minimum Subsequent Investment
EUR 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGNGI2H
Share Class launch date
12-Dec-2018
Share Class Currency
EUR
Asset Class
Equity
SFDR Classification
Article 8
Ongoing Charges Figures
0.73%
Annual Management Fee
0.68%
Minimum Initial Investment
EUR 10,000,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Other Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
BGDMJT6

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28-Jun-2024
110
3y Beta
as of -
-
P/B Ratio
as of 28-Jun-2024
7.18
Standard Deviation (3y)
as of 30-Jun-2024
28.12%
P/E Ratio
as of 28-Jun-2024
48.14

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-Jun-2024
A
MSCI ESG Quality Score (0-10)
as of 21-Jun-2024
6.70
Fund Lipper Global Classification
as of 21-Jun-2024
Equity Sector Information Tech
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Jun-2024
24.17
MSCI ESG % Coverage
as of 21-Jun-2024
92.83
MSCI ESG Quality Score - Peer Percentile
as of 21-Jun-2024
53.19
Funds in Peer Group
as of 21-Jun-2024
1,051
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Jun-2024
91.00
All data is from MSCI ESG Fund Ratings as of 21-Jun-2024, based on holdings as of 29-Feb-2024. 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 28-Jun-2024
0.00%
MSCI - Nuclear Weapons
as of 28-Jun-2024
0.00%
MSCI - Civilian Firearms
as of 28-Jun-2024
0.00%
MSCI - Tobacco
as of 28-Jun-2024
0.00%
MSCI - UN Global Compact Violators
as of 28-Jun-2024
0.00%
MSCI - Thermal Coal
as of 28-Jun-2024
0.00%
MSCI - Oil Sands
as of 28-Jun-2024
0.00%

Business Involvement Coverage
as of 28-Jun-2024
92.95%
Percentage of Fund not covered
as of 28-Jun-2024
7.12%
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.

Risk Indicator

Risk Indicator

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

Ratings

Holdings

Holdings

as of 28-Jun-2024
Name Weight (%)
NVIDIA CORP 9.20
SYNOPSYS INC 3.65
SK HYNIX INC 3.53
ASM INTERNATIONAL NV 3.05
PURE STORAGE INC CLASS A 2.83
Name Weight (%)
INFORMA PLC 2.07
BE SEMICONDUCTOR INDUSTRIES NV 1.93
KLA CORP 1.93
WOLTERS KLUWER NV 1.87
SPOTIFY TECHNOLOGY SA 1.86
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28-Jun-2024

% of Market Value

Type Fund Benchmark Net
as of 28-Jun-2024

% of Market Value

Type Fund Benchmark Net
Sorry, geographic exposures are not available at this time.
as of 28-Jun-2024

% 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 I2 Hedged EUR 20.51 -0.30 -1.44 19-Jul-2024 22.03 14.94 LU1917165158
Class I2 USD 19.92 -0.29 -1.43 19-Jul-2024 21.39 14.30 LU1861216270
Class I4 GBP 8.56 -0.08 -0.93 19-Jul-2024 9.18 6.53 LU2344713412
Class D2 USD 19.63 -0.28 -1.41 19-Jul-2024 21.08 14.11 LU1861216197
Class A2 EUR 17.18 -0.20 -1.15 19-Jul-2024 18.44 12.74 LU2400291972
Class D2 GBP 15.19 -0.15 -0.98 19-Jul-2024 16.31 11.62 LU2237457416
Class D2 Hedged GBP 17.67 -0.26 -1.45 19-Jul-2024 18.96 12.78 LU1861216866
Class A4 EUR 6.41 -0.08 -1.23 19-Jul-2024 6.88 4.76 LU2398791959
Class D2 Hedged EUR 16.80 -0.25 -1.47 19-Jul-2024 18.04 12.26 LU1861216601
Class A2 Hedged GBP 7.10 -0.10 -1.39 19-Jul-2024 7.61 5.16 LU2310089698
Class D2 EUR 18.04 -0.21 -1.15 19-Jul-2024 19.36 13.30 LU1917164854
Class I2 GBP 15.42 -0.16 -1.03 19-Jul-2024 16.55 11.77 LU2168066202
Class I2 EUR 18.31 -0.21 -1.13 19-Jul-2024 19.65 13.48 LU1917165075
Class I4 USD 11.06 -0.16 -1.43 19-Jul-2024 11.87 7.93 LU2360107085
Class A4 USD 6.98 -0.10 -1.41 19-Jul-2024 7.49 5.05 LU2360107168
Class A2 USD 18.69 -0.27 -1.42 19-Jul-2024 20.07 13.52 LU1861215975
Class A10 USD 12.30 -0.18 -1.44 19-Jul-2024 13.21 9.44 LU2533724949
Class A2 Hedged EUR 16.01 -0.23 -1.42 19-Jul-2024 17.19 11.75 LU1861216510

Portfolio Managers

Portfolio Managers

Tony Kim
Tony Kim
Reid Menge
Co-portfolio manager for the Technology equity portfolios and responsible for coverage of the technology sector.

   

Literature

Literature