Fixed Income

BGF Euro Bond Fund

Overview

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

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Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
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  From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of 31-Dec-20

- 2.09 0.66 7.51 4.76
Benchmark (%)

as of 31-Dec-20

- 0.67 0.42 6.00 4.07
  1y 3y 5y 10y Incept.
2.29 4.13 - - 3.39
Benchmark (%)

as of 31-Jan-21

1.56 3.47 - - 2.32
  YTD 1m 3m 1y 3y 5y 10y Incept.
-0.52 -0.52 0.17 2.29 12.89 - - 17.56
Benchmark (%)

as of 31-Jan-21

-0.46 -0.46 -0.06 1.56 10.76 - - 11.79

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 GBP, hedged Share Class Benchmark performance is displayed in EUR.

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

Size of Fund (Millions) as of 02-Mar-21 EUR 4,998.666
12m Trailing Yield as of 28-Feb-21 0.25
Number of Holdings as of 29-Jan-21 892
Base Currency Euro
Fund Launch Date 31-Mar-94
Inception Date 23-Mar-16
Asset Class Fixed Income
Morningstar Category Other Bond
Benchmark Index BBG Barc Euro Aggregate 500+
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 0.61%
ISIN LU1376384365
Bloomberg Ticker BGBD4RF
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BYZJHD1
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment GBP 100000
Minimum Subsequent Investment -
Use of Income Distributing

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 05-Feb-21 A
MSCI ESG Quality Score (0-10) as of 05-Feb-21 6.96
MSCI ESG Quality Score - Peer Percentile as of 05-Feb-21 71.24
MSCI ESG % Coverage as of 05-Feb-21 91.12
Fund Lipper Global Classification as of 05-Feb-21 Bond EUR
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 05-Feb-21 77.99
Funds in Peer Group as of 05-Feb-21 306
All data is from MSCI ESG Fund Ratings as of 05-Feb-21, based on holdings as of 31-Aug-20. 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 29-Jan-21 0.00%
MSCI - UN Global Compact Violators as of 29-Jan-21 1.14%
MSCI - Nuclear Weapons as of 29-Jan-21 0.00%
MSCI - Thermal Coal as of 29-Jan-21 0.00%
MSCI - Civilian Firearms as of 29-Jan-21 0.00%
MSCI - Oil Sands as of 29-Jan-21 0.00%
MSCI - Tobacco as of 29-Jan-21 0.32%

Business Involvement Coverage as of 29-Jan-21 42.72%
Percentage of Fund not covered as of 29-Jan-21 57.28%
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 0.54%.

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 phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves 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

Holdings

Holdings

as of 29-Jan-21
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 4.25 07/04/2039 1.65
ITALY (REPUBLIC OF) 1.85 07/01/2025 1.46
FRANCE (REPUBLIC OF) 1.75 06/25/2039 1.31
ITALY (REPUBLIC OF) 1.45 11/15/2024 1.30
ITALY (REPUBLIC OF) 0.05 04/15/2021 0.94
Name Weight (%)
SPAIN (KINGDOM OF) 2.75 10/31/2024 0.87
CAISSE AMORTISSEMENT DE LA DETTE S RegS 0 02/25/2026 0.85
UNEDIC MTN RegS 0.875 05/25/2028 0.82
ITALY (REPUBLIC OF) 1.45 09/15/2022 0.79
SPAIN (KINGDOM OF) 1.4 07/30/2028 0.77
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29-Jan-21

% of Market Value

Type Fund Benchmark Net
as of 29-Jan-21

% of Market Value

Type Fund Benchmark Net
as of 29-Jan-21

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 29-Jan-21

% of Market Value

Type Fund Benchmark Net
as of 29-Jan-21

% of Market Value

Type Fund Benchmark Net
as of 29-Jan-21

% 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 D4 Hedged GBP Annual 11.42 0.01 0.09 11.63 10.61 - LU1376384365 - -
Class E2 USD None 33.33 0.00 0.00 34.73 28.10 - LU0171279937 - -
Class A2 Hedged PLN None 114.46 0.00 0.00 116.83 106.26 - LU1499592381 - -
Class I4 Hedged USD Annual 11.38 0.00 0.00 11.59 10.53 - LU1808491812 - -
Class AI2 EUR - 10.54 0.05 0.48 10.77 9.85 - LU1960220827 - -
Class E5 EUR Quarterly 25.83 0.00 0.00 26.41 24.25 - LU0500207468 - -
Class A1 USD Daily 25.16 0.00 0.00 26.20 21.11 - LU0171278889 - -
Class D3 USD Monthly 25.23 0.00 0.00 26.27 21.15 - LU0827877639 - -
Class A4 GBP Annual 24.28 -0.01 -0.04 26.34 23.47 - LU0204069685 - -
Class D3 EUR Monthly 20.95 0.00 0.00 21.40 19.56 - LU0827877555 - -
Class D2 USD None 39.09 0.00 0.00 40.68 32.69 - LU0827877472 - -
Class D4 GBP Annual 24.40 -0.01 -0.04 26.44 23.57 - LU0827877712 - -
Class A1 EUR Daily 20.89 0.00 0.00 21.34 19.52 - LU0118259232 - -
Class I4 Hedged GBP Annual 11.45 0.00 0.00 11.66 10.64 - LU1376384282 - -
Class A2 EUR None 30.91 0.01 0.03 31.57 28.88 - LU0050372472 - -
Class A4 EUR Annual 27.99 0.00 0.00 28.59 26.16 - LU0430265933 - -
Class A3 USD Monthly 25.15 0.00 0.00 26.19 21.10 - LU0172748641 - -
Class I4 EUR Annual 10.69 0.00 0.00 10.91 9.98 - LU1808491655 - -
Class A2 USD None 37.22 0.00 0.00 38.76 31.23 - LU0171279184 - -
Class C2 USD None 28.05 0.00 0.00 29.27 23.82 - LU0331283399 - -
Class D2 EUR None 32.46 0.00 0.00 33.13 30.23 - LU0297941469 - -
Class S4 EUR Annual 10.72 0.00 0.00 10.94 10.01 - LU1722863484 - -
Class E2 EUR None 27.68 0.00 0.00 28.30 25.99 - LU0090830810 - -
Class I2 EUR None 15.60 0.00 0.00 15.92 14.51 - LU0368229703 - -
Class D4 EUR Annual 12.42 0.00 0.00 12.67 11.59 - LU0938162699 - -
Class D2 Hedged CHF None 12.47 0.00 0.00 12.74 11.66 - LU1266592374 - -
Class C2 EUR None 23.30 0.00 0.00 23.86 22.03 - LU0147393358 - -
Class D2 Hedged USD None 14.77 0.00 0.00 15.05 13.63 - LU0869640077 - -
Class A2 Hedged USD None 14.34 0.00 0.00 14.62 13.29 - LU0869650977 - -
Class X2 EUR None 35.05 0.01 0.03 35.73 32.46 - LU0298377911 - -
Class I2 Hedged JPY None 1,101.00 0.00 0.00 1,123.00 1,023.00 - LU1668661629 - -
Class A3 EUR Monthly 20.88 0.00 0.00 21.33 19.51 - LU0172396516 - -
Class A2 Hedged JPY None 1,082.00 0.00 0.00 1,105.00 1,010.00 - LU1668663914 - -
Class I2 Hedged USD None 12.56 0.00 0.00 12.79 11.58 - LU1376384100 - -
Class A2 CZK None 808.06 2.04 0.25 858.00 784.30 - LU1791174284 - -
Class I2 Hedged CHF None 11.10 0.00 0.00 11.34 10.37 - LU1180456292 - -

Portfolio Managers

Portfolio Managers

Ronald van Loon
Ronald van Loon
Michael Krautzberger
Head, BlackRock’s Pan-European Fixed Income Team

     

Literature

Literature