Equity

BGF Multi-Theme Equity 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.

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, political factors, economic news, company earnings and significant corporate events. 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, failed/delayed delivery of securities or payments to the Fund and sustainability-related risks. The Fund may seek to exclude Funds which are not subject to ESG-related requirements. 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. Investments in the technology securities are subject to absence or loss of intellectual property protections, rapid changes in technology, government regulation and competition. Investments in the new energy securities are subject to environmental or sustainability concerns, taxes, government regulation, price and supply fluctuations.

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 3 years.

  2019 2020 2021 2022 2023
Total Return (%) 14.3 -19.7 12.7
Comparator Benchmark 1 (%) 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.
20.03 0.72 - - 9.20
Comparator Benchmark 1 (%) 31.76 8.09 - - 13.15
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
8.70 2.04 6.30 5.69 20.03 2.18 - - 45.00
Comparator Benchmark 1 (%) 18.66 2.32 6.61 9.67 31.76 26.28 - - 68.46
  From
30-Sept-2019
To
30-Sept-2020
From
30-Sept-2020
To
30-Sept-2021
From
30-Sept-2021
To
30-Sept-2022
From
30-Sept-2022
To
30-Sept-2023
From
30-Sept-2023
To
30-Sept-2024
Total Return (%)

as of 30-Sept-2024

- 31.39 -23.68 11.54 20.03
Comparator Benchmark 1 (%)

as of 30-Sept-2024

- 27.44 -20.66 20.80 31.76

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 USD, 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 04-Oct-2024
USD 90,476,492
Fund Launch Date
10-Jul-2020
Fund Base Currency
USD
Comparator Benchmark 1
MSCI All Country World Index (Net Total Return) (USD)
Initial Charge
5.00%
Management Fee
0.55
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGBMEDU
Share Class launch date
10-Jul-2020
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Article 8
Ongoing Charges Figures
0.80%
ISIN
LU2123743770
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BLPHV21

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30-Sept-2024
20
3y Beta
as of 30-Sept-2024
1.014
P/B Ratio
as of 30-Sept-2024
0.00
Standard Deviation (3y)
as of 30-Sept-2024
17.97%
P/E Ratio
as of 30-Sept-2024
0.00

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-Sept-2024
AA
MSCI ESG Quality Score (0-10)
as of 21-Sept-2024
7.21
Fund Lipper Global Classification
as of 21-Sept-2024
Equity Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Sept-2024
203.09
MSCI ESG % Coverage
as of 21-Sept-2024
97.35
MSCI ESG Quality Score - Peer Percentile
as of 21-Sept-2024
60.68
Funds in Peer Group
as of 21-Sept-2024
5,658
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Sept-2024
97.03
All data is from MSCI ESG Fund Ratings as of 21-Sept-2024, based on holdings as of 31-May-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 30-Aug-2024
0.00%
MSCI - Nuclear Weapons
as of 30-Aug-2024
0.00%
MSCI - Civilian Firearms
as of 30-Aug-2024
0.05%
MSCI - Tobacco
as of 30-Aug-2024
0.03%
MSCI - UN Global Compact Violators
as of 30-Aug-2024
0.02%
MSCI - Thermal Coal
as of 30-Aug-2024
0.03%
MSCI - Oil Sands
as of 30-Aug-2024
0.00%

Business Involvement Coverage
as of 30-Aug-2024
99.00%
Percentage of Fund not covered
as of 30-Aug-2024
1.00%
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 0.07% 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 the research, monitoring and reporting phases of the investment process. This may include both BlackRock and third-party research and feeds into the initial investment decision. When making buy, hold and sell decisions, the team may take into consideration potential competitive advantages of allocating to vehicles that provide access to companies with stronger ESG characteristics, within a given industry. The Fund manager conducts regular portfolio risk reviews between the investment team and BlackRock's Risk and Quantitative Analysis group as well as portfolio reviews with 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

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Holdings

Holdings

as of 30-Aug-2024
Name Weight (%)
BGF CIRCULAR ECONOMY FUND 18.09
BLACKROCK GLOBAL FUNDS - NEW ENERGY FUND 12.61
ISHARES DIGITAL SECURITY UCITS ETF USD ACC 11.07
ISHARES NASDAQ 100 UCITS ETF 7.92
ISHARES GLOBAL INFRASTRUCTURE UCITS ETF USD (DIST) 7.44
Name Weight (%)
ISHARES HEALTHCARE INNOVATION UCITS ETF 5.98
ISHARES DIGITALISATION UCITS ETF 4.50
ISHARES GLOBAL TIMBER&FORESTRY UCITS ETF USD(DIST) 3.95
ISHS DIGITAL ENTERTNMNT AND EDUCTN UCITS ETF 3.93
ISHARES AUTOMATION & ROBOTICS UCITS ETF 2.99
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Aug-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Aug-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Aug-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Aug-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 D2 USD 14.33 0.03 0.21 04-Oct-2024 14.56 11.23 LU2123743770
Class A2 Hedged EUR 11.75 0.02 0.17 04-Oct-2024 11.94 9.45 LU2242189152
Class D2 GBP 10.94 0.03 0.27 04-Oct-2024 10.94 9.25 LU2123743937
Class D2 Hedged EUR 12.07 0.02 0.17 04-Oct-2024 12.27 9.65 LU2242189079
Class A2 USD 13.92 0.02 0.14 04-Oct-2024 14.14 10.98 LU2123743341
Class D2 EUR 13.06 0.09 0.69 04-Oct-2024 13.06 10.59 LU2123743853
Class A2 EUR 12.69 0.09 0.71 04-Oct-2024 12.69 10.35 LU2123743424

Portfolio Managers

Portfolio Managers

Rafael Iborra
Investment Lead of EMEA Model Portfolio Solutions for Multi-Asset Strategies & Solutions

   

Lamiaa Chaabi
Director and portfolio manager

Member of the Diversified Strategies team within BlackRock’s Multi-Asset Strategies and Solutions (MASS) group.

Christopher Ellis Thomas
MyMap Co-Portfolio Manager, BlackRock

Chris is co-portfolio manager on the BGF Multi-Theme Equity Fund and lead strategist/CIO on the MyMap and 1895 (Rabobank) fund ranges.

Literature

Literature