BGF Emerging Markets Local Currency Bond Fund

Fixed Income

BGF Emerging Markets Local Currency Bond Fund

  • NAV as of 18-Nov-19 EUR 23.23
    52 WK: 20.36 - 23.64
  • 1 Day NAV Change as of 18-Nov-19 -0.03 (-0.13%)

Overview

Investment Approach

The Fund aims to maximise the return on your investment through a combination of capital growth and income on the Fund’s assets. The Fund invests at least 70% of its total assets in fixed income securities denominated in local currencies of developing market countries. These include bonds and money market instruments.

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

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Performance

Performance

  • Returns

  From
30-Sep-2014
To
30-Sep-2015		 From
30-Sep-2015
To
30-Sep-2016		 From
30-Sep-2016
To
30-Sep-2017		 From
30-Sep-2017
To
30-Sep-2018		 From
30-Sep-2018
To
30-Sep-2019
Total Return (%) Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.

as of 30-Sep-19

-9.01 19.15 3.24 -11.59 15.71
Benchmark (%) Index: JP Morgan GBI-EM Global Diversified Index - in EUR<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

as of 30-Sep-19

-9.20 16.27 2.02 -5.75 17.34

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

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. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realize returns that are different to the NAV performance.

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

Chart

Performance chart data not available for display.
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Share Class and Benchmark performance displayed in EUR. Source: BlackRock. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested. Source: BlackRock. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product.

Reinvestments

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable Date Total Distribution

Key Facts

Key Facts

Size of Fund (Millions) as of 18-Nov-19 USD 3,831.485
12m Trailing Yield The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months. -
Number of Holdings The number of holdings in the fund excluding cash positions and derivatives exposures. Derivatives are contracts used by the fund to gain exposure to an investment without buying it directly. They can be used in a number of ways. For example a 'currency forward' derivative contract can be used to 'hedge' or aim to mitigate the effects of changes in exchange rates. as of 31-Oct-19 157
Base Currency USD
Fund Launch Date 26-Jun-97
Inception Date 12-Nov-07
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Bond - Local Currency
Benchmark Index JP Morgan GBI-EM Global Diversified Index - in EUR
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures Ongoing Charges Figure (OCF)- this is a measure of the total costs associated with managing and operating an investment fund. These costs consist primarily of management fees and other expenses such as trustee, custody, transaction and registration fees and other operating expenses. The total cost for the fund is divided by the fund’s total assets and expressed as a percentage which represents the OCF. 0.79%
ISIN LU0329592702
Bloomberg Ticker MLLEED2
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B43C312
Bloomberg Benchmark Ticker JGENVUEG
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 100000
Minimum Subsequent Investment -
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Weighted Average YTM Yield to Maturity (YTM) is the discount rate that equates the present value of a bond's cash flows with its market price (including accrued interest). The Fund Average YTM is the weighted average of the fund's individual bond holding YTMs based upon Net Asset Value ('NAV'). The measure does not include fees and expenses. as of 31-Oct-19 6.08%
Modified Duration Modified Duration is a measure of price sensitivity of a bond to changes in interest rates. It inversely indicates the expected change in the price of a bond, assuming a 1% change in interest rates. The Modified Duration of iShares ETFs is calculated as the average of the underlying bonds' modified duration values, weighted by the bond's weight in the fund. as of 31-Oct-19 5.92
Effective Duration Effective Duration is a measure of the potential impact on a bond or portfolio price of a 1% change in interest rates across all maturities. It takes into account the possible changes in expected bond cash flows for bonds with embedded optionality (for example the bond issuer's right to redeem bonds at a pre-determined price on certain dates) due to the 1% change in rates. as of 31-Oct-19 5.87
Weighted Avg Maturity Bond's maturity is the length of time until the date when the principal amount of a bond is to be repaid. Weighted Avg. Maturity, WAM, is used to calculate the maturity of a basket of bonds (fund) and is calculated as the average of the underlying bonds' maturities weighted by the bonds' weight in the fund. as of 31-Oct-19 8.99
WAL to Worst The weighted average time to receipt of principal, adjusting for embedding optionality. as of 31-Oct-19 8.99

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 31-Oct-19
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 4.60
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 1.89
HUNGARY (REPUBLIC OF) 3 06/26/2024 1.83
RUSSIAN FEDERATION 7.7 03/23/2033 1.77
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.76
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2022 1.72
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 1.71
MEXICO (UNITED MEXICAN STATES) 10 12/05/2024 1.61
PERU (REPUBLIC OF) 6.95 08/12/2031 1.58
PERU (REPUBLIC OF) 6.35 08/12/2028 1.52
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-19

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-19

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-19

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 31-Oct-19

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-19

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-19

% 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 EUR None 23.23 -0.03 -0.13 23.64 20.36 - LU0329592702 - -
Class A8 Hedged AUD Monthly 6.97 0.01 0.14 7.26 6.79 - LU1133072774 - -
Class A2 CHF None 23.92 -0.04 -0.17 24.56 21.72 - LU0938162186 - -
Class X2 AUD None 10.66 0.00 0.00 10.82 8.96 - LU1554267051 - -
Class S3 Hedged GBP - 10.38 0.00 0.00 10.78 10.00 - LU1911699996 - -
Class A1 EUR Daily 3.48 -0.01 -0.29 3.56 3.21 - LU0278461065 - -
Class D2 USD None 25.71 0.01 0.04 26.21 23.10 - LU0383940458 - -
Class I2 EUR None 23.26 -0.03 -0.13 23.67 20.35 - LU1559746307 - -
Class I5 USD Quarterly 9.65 0.01 0.10 9.89 9.14 - LU1495982867 - -
Class D2 CHF None 25.40 -0.04 -0.16 26.08 22.96 - LU1065150267 - -
Class A2 Hedged SGD None 8.45 0.00 0.00 8.62 7.70 - LU0358998713 - -
Class I2 GBP - 19.87 -0.07 -0.35 21.15 18.07 - LU1741217027 - -
Class A1 USD Daily 3.86 0.01 0.26 3.97 3.64 - LU0278477574 - -
Class I3 Hedged GBP Monthly 6.88 0.01 0.15 7.14 6.62 - LU0995336418 - -
Class D2 Hedged CHF None 8.96 0.01 0.11 9.16 8.33 - LU1688375184 - -
Class I5 EUR Quarterly 8.71 -0.02 -0.23 8.87 8.02 - LU0995350831 - -
Class E5 Hedged EUR Quarterly 6.51 0.00 0.00 6.78 6.36 - LU1062843260 - -
Class AI5 EUR - 10.44 -0.01 -0.10 10.62 10.27 - LU1960220660 - -
Class I2 CHF - 25.43 -0.04 -0.16 26.11 22.95 - LU1781817694 - -
Class X2 GBP None 5.60 -0.02 -0.36 5.95 5.07 - LU1688375267 - -
Class A3 HKD Monthly 30.44 0.03 0.10 31.29 28.67 - LU0388349754 - -
Class A2 USD None 24.22 0.02 0.08 24.69 21.86 - LU0278470058 - -
Class A4 EUR Annual 14.04 -0.02 -0.14 14.82 12.99 - LU0478974834 - -
Class C2 USD None 20.64 0.01 0.05 21.05 18.85 - LU0278476923 - -
Class A2 Hedged EUR None 7.66 0.00 0.00 7.84 7.13 - LU0359002093 - -
Class X2 Hedged GBP None 10.12 0.00 0.00 10.32 9.22 - LU1505939139 - -
Class D3 Hedged GBP Monthly 6.85 0.00 0.00 7.11 6.59 - LU0995345831 - -
Class D2 Hedged EUR None 7.82 0.00 0.00 8.00 7.25 - LU0622213642 - -
Class A3 USD Monthly 3.89 0.00 0.00 4.01 3.67 - LU0278470132 - -
Class D5 GBP Quarterly 8.83 -0.03 -0.34 9.53 8.45 - LU1694209807 - -
Class A2 Hedged SEK None 90.98 0.04 0.04 93.09 84.62 - LU1715605868 - -
Class A2 EUR None 21.88 -0.03 -0.14 22.27 19.27 - LU0278457204 - -
Class D3 USD Monthly 16.08 0.01 0.06 16.58 15.18 - LU0523291242 - -
Class A6 USD Monthly 8.62 0.00 0.00 8.94 8.33 - LU1408528211 - -
Class A3 EUR Monthly 3.51 -0.01 -0.28 3.59 3.24 - LU0278457469 - -
Class A4 USD Annual 15.54 0.01 0.06 16.55 14.73 - LU0548402170 - -
Class A6 Hedged SGD Monthly 7.89 0.00 0.00 8.22 7.69 - LU1676225185 - -
Class C1 USD Daily 3.85 0.00 0.00 3.97 3.64 - LU0278478119 - -
Class D3 EUR Monthly 14.53 -0.02 -0.14 14.85 13.39 - LU0827884924 - -
Class E2 USD None 22.72 0.01 0.04 23.17 20.60 - LU0374975414 - -
Class D3 Hedged AUD Monthly 6.49 0.00 0.00 6.72 6.19 - LU0827884841 - -
Class D2 Hedged GBP None 14.63 0.01 0.07 14.92 13.42 - LU0827885491 - -
Class D4 EUR Annual 14.07 -0.02 -0.14 14.91 13.02 - LU0827885145 - -
Class A6 Hedged GBP Monthly 8.10 0.01 0.12 8.52 7.97 - LU1408528302 - -
Class D2 Hedged PLN None 10.33 0.01 0.10 10.53 9.39 - LU0827884684 - -
Class C2 EUR None 18.64 -0.03 -0.16 18.99 16.62 - LU0278457972 - -
Class D3 HKD Monthly 125.91 0.11 0.09 129.46 118.60 - LU0827885061 - -
Class D2 Hedged SGD None 8.77 0.00 0.00 8.94 7.95 - LU0827884767 - -
Class I2 Hedged EUR None 8.07 0.01 0.12 8.24 7.46 - LU0473186707 - -
Class E2 EUR None 20.52 -0.03 -0.15 20.89 18.16 - LU0278459671 - -
Class I2 USD None 25.75 0.02 0.08 26.25 23.09 - LU0520955575 - -
Class AI2 EUR - 10.58 -0.01 -0.09 10.77 9.83 - LU1960220587 - -
Class A6 Hedged HKD Monthly 85.84 0.05 0.06 89.42 83.59 - LU1408528484 - -
Class X5 Hedged GBP - 10.03 0.06 0.60 10.36 9.76 - LU1954752702 - -
Class X2 EUR None 6.56 0.00 0.00 6.67 5.71 - LU0531082021 - -
Class A6 Hedged CAD Monthly 8.56 0.00 0.00 8.94 8.36 - LU1408528641 - -
Class X2 USD None 7.26 0.01 0.14 7.40 6.48 - LU0344905624 - -
Class A8 Hedged NZD Monthly 8.67 0.01 0.12 9.02 8.43 - LU1408528724 - -
Class A2 CZK None 559.59 -0.98 -0.17 568.77 499.24 - LU1791177113 - -
Class A2 Hedged CHF None 7.48 0.00 0.00 7.67 6.99 - LU0623004180 - -
Class A3 Hedged AUD Monthly 6.50 0.01 0.15 6.73 6.19 - LU0575500318 - -
Class A2 Hedged PLN None 9.96 0.00 0.00 10.16 9.10 - LU0480535052 - -
Class E2 Hedged EUR None 7.30 0.00 0.00 7.49 6.82 - LU0474536231 - -
Class D4 USD Annual 15.57 0.00 0.00 16.65 14.77 - LU0827885228 - -

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Sergio Trigo Paz
Laurent Develay
Laurent Develay
Michal Wozniak
Michal Wozniak

Literature

Literature