BGF Dynamic High Income Fund | Class AI5G Hedged

Filter list by keyword Show More Show Less to of Total Sorry, no data available.

NAV as of 29-Nov-23 EUR 7.45
52 WK: 6.98 - 7.85
1 Day NAV Change as of 29-Nov-23 0.04 (0.54%)
NEUTRAL

Overview

Investment Approach

The Fund aims to generate a high income on your investment.

The Fund invests globally in the full range of assets in which a UCITS may invest, including equity securities (e.g. shares), fixed income (FI) securities (such as bonds), funds, cash, deposits and money market instruments (i.e. debt securities with short term maturities).

The Fund is actively managed and the asset classes and the extent to which the Fund is invested in these may vary without limit depending on market conditions and other factors at the investment adviser's (IA) discretion. In selecting these, the IA may take into consideration a composite benchmark comprising MSCI World Net Index (70%) and the Bloomberg Global Aggregate Bond Index USD Hedged (30%) (the “Index”) when constructing the Fund’s portfolio, and for risk management purposes to ensure that the active risk (i.e. degree of deviation from the Index) taken by the Fund remains appropriate given the Fund’s investment objective and policy. Whilst the Index is used by the IA in constructing the portfolio of the Fund, the IA is not bound by its components or weighting when selecting investments. The IA may also use its discretion to invest in securities not included in the Index in order to take advantage of specific investment opportunities. The Fund’s portfolio holdings are expected to deviate materially from the Index. The components of the Index (i.e. MSCI World Index and Bloomberg Global Aggregate Bond Index US Hedged) may be quoted separately in marketing material related to the Fund.

Next: Previous:

Important Information: 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.

Credit risk, changes to interest rates and/or issuer defaults will have a significant impact on the performance of fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. 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. 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.

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.

Show Less

Performance

Chart

Performance chart data not available for display.

Growth of Hypothetical EUR 10,000
Historical NAVs

BGF Dynamic High Income Fund (EUR)

Historical NAVs

Distributions

Ex-Date	Total Distribution

Ex-Date	Total Distribution

Returns

This chart shows the fund's performance as the percentage loss or gain per year over the last 3 years.

	2018	2019	2020	2021	2022
Total Return (%)			1.3	9.0	-21.1
Constraint Benchmark 1 (%)			13.4	14.5	-15.9

Missing calendar year returns data

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

	1y	3y	5y	10y	Incept.
Total Return (%)	1.31	-1.74	-	-	-1.60
Constraint Benchmark 1 (%)	7.91	4.60	-	-	-

Missing average annual returns data

	YTD	1m	3m	6m	1y	3y	5y	10y	Incept.
Total Return (%)	0.05	-2.64	-6.52	-3.40	1.31	-5.12	-	-	-7.18
Constraint Benchmark 1 (%)	5.67	-2.24	-7.31	-1.93	7.91	14.46	-	-	-

Missing cumulative returns data

	From 30-Sep-2018 To 30-Sep-2019	From 30-Sep-2019 To 30-Sep-2020	From 30-Sep-2020 To 30-Sep-2021	From 30-Sep-2021 To 30-Sep-2022	From 30-Sep-2022 To 30-Sep-2023
Total Return (%) as of 30-Sep-23	-	-3.67	15.34	-22.53	7.24
Constraint Benchmark 1 (%) as of 30-Sep-23	-	9.03	19.48	-17.20	15.82

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

Net Assets of Fund as of 29-Nov-23 USD 2,801,248,592

Inception Date 20-Mar-19

Fund Launch Date 06-Feb-18

Share Class Currency EUR

Base Currency USD

Asset Class Multi Asset

Constraint Benchmark 1 70%MSCIWLDNET / 30%LGAINXUSDH Index

SFDR Classification Other

Initial Charge 5.00%

Ongoing Charges Figures 1.74%

ISIN LU1960219811

Annual Management Fee -

Performance Fee -

Minimum Initial Investment EUR 25,000.00

Minimum Subsequent Investment EUR 1,000.00

Use of Income Distributing

Domicile Luxembourg

Regulatory Structure UCITS

Management Company BlackRock (Luxembourg) S.A.

Morningstar Category EUR Flexible Allocation - Global

Dealing Settlement Trade Date + 3 days

Dealing Frequency Daily, forward pricing basis

Bloomberg Ticker BGDAI5E

SEDOL BHL2T39

Portfolio Characteristics

Number of Holdings as of 31-Oct-23 1792

12 Month Trailing Dividend Distribution Yield as of 31-Oct-23 7.11

Standard Deviation (3y) as of 31-Oct-23 11.84%

3y Beta as of - -

P/E Ratio as of 31-Oct-23 12.14

P/B Ratio as of 31-Oct-23 1.51

Yield to Maturity as of 31-Oct-23 13.91

Modified Duration as of 31-Oct-23 1.97

Effective Duration as of 31-Oct-23 1.27

Weighted Avg Maturity as of 31-Oct-23 3.71

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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-Oct-23 0.01%

MSCI - UN Global Compact Violators as of 31-Oct-23 0.23%

MSCI - Nuclear Weapons as of 31-Oct-23 0.14%

MSCI - Thermal Coal as of 31-Oct-23 0.05%

MSCI - Civilian Firearms as of 31-Oct-23 0.01%

MSCI - Oil Sands as of 31-Oct-23 0.10%

MSCI - Tobacco as of 31-Oct-23 0.58%

Business Involvement Coverage as of 31-Oct-23 69.34%

Percentage of Fund not covered as of 31-Oct-23 30.76%

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 0.10% and for Oil Sands 1.62%.

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 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 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, societal or governance topics, and 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. Where appropriate, 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

1

2

3

4

5

6

7

Low Risk High Risk

Typically low rewards Typically high rewards

Ratings

Holdings

Top

as of 31-Oct-23

Name	Weight (%)
ISH MSCI USA Qty Div ESG UCITS ETF	5.04
ISHARES $ HIGH YIELD CRP BND ETF $	1.96
ISH US MBS ETF USD DIST	1.36
ISHARES $ CORPORATE BOND UCITS ETF	1.06
UNH ROYAL BANK OF CANADA 8.7111/28/2023	0.69

Name	Weight (%)
MSFT UBS AG (LONDON BRANCH) 11.412/6/2023	0.66
MICROSOFT CORP	0.57
TAIWAN SEMICONDUCTOR MANUFACTURING	0.57
AMZN CITIGROUP INC 18.181/31/2024	0.56
NOW UBS AG (LONDON BRANCH) 16.91/23/2024	0.36

Holdings subject to change

Exposure Breakdowns

Sorry, sectors are not available at this time.

Sorry, geographic exposures are not available at this time.

as of 31-Oct-23

% of Market Value

Type	Fund	Benchmark	Net

Show More Show Less

as of 31-Oct-23

% of Market Value

Type	Fund	Benchmark	Net

Show More Show Less

Allocations subject to change.

Sorry, maturities are not available at this time.

as of 31-Oct-23

% of Market Value

Type	Fund	Benchmark	Net

Show More Show Less

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	NAV	NAV Amount Change	NAV % Change	NAV As Of	52wk High	52wk Low	ISIN
Class AI5G Hedged	EUR	7.45	0.04	0.54	29-Nov-23	7.85	6.98	LU1960219811
Class AI2 Hedged	EUR	9.87	0.07	0.71	29-Nov-23	9.94	9.24	LU1960219738
Class A8 Hedged	EUR	8.08	0.05	0.62	29-Nov-23	8.30	7.59	LU2127174873
Class A6 Hedged	SGD	7.13	0.05	0.71	29-Nov-23	7.52	6.70	LU1564329461
Class E2	EUR	12.30	0.08	0.65	29-Nov-23	12.47	11.59	LU1728558575
Class D2	USD	11.71	0.08	0.69	29-Nov-23	11.71	10.69	LU1564329206
Class X2	USD	12.38	0.08	0.65	29-Nov-23	12.38	11.20	LU1564329891
Class I6	USD	8.18	0.05	0.62	29-Nov-23	8.43	7.67	LU1873113655
Class E5G Hedged	EUR	6.80	0.04	0.59	29-Nov-23	7.19	6.37	LU1728558732
Class A2 Hedged	SGD	10.60	0.07	0.66	29-Nov-23	10.67	9.89	LU1564329628
Class D6	USD	7.91	0.05	0.64	29-Nov-23	8.16	7.42	LU1564329388
Class D5G Hedged	GBP	8.08	0.05	0.62	29-Nov-23	8.37	7.55	LU1940842427
Class A8 Hedged	CNH	73.70	0.47	0.64	29-Nov-23	77.62	69.36	LU1733225004
Class I2 BRL Hedged (USD)	USD	10.47	0.09	0.87	29-Nov-23	10.61	8.19	LU2008661188
Class A6 Hedged	EUR	6.50	0.04	0.62	29-Nov-23	6.90	6.11	LU1706154686
Class A2	USD	11.21	0.08	0.72	29-Nov-23	11.21	10.30	LU1564329032
Class A8 Hedged	AUD	7.19	0.05	0.70	29-Nov-23	7.47	6.76	LU1564329545
Class A6 Hedged	HKD	72.55	0.48	0.67	29-Nov-23	76.37	68.16	LU1697837992
Class D2 Hedged	CHF	9.87	0.07	0.71	29-Nov-23	9.99	9.25	LU1800013010
Class E2 Hedged	EUR	9.44	0.06	0.64	29-Nov-23	9.53	8.84	LU1728558658
Class A2 Hedged	CHF	9.46	0.06	0.64	29-Nov-23	9.63	8.88	LU1800012988
Class I2	USD	11.95	0.07	0.59	29-Nov-23	11.95	10.89	LU1811365458
Class A6 Hedged	JPY	996.00	6.00	0.61	29-Nov-23	1,004.00	939.00	LU2655523236
Class A6 Hedged	CAD	7.33	0.05	0.69	29-Nov-23	7.68	6.88	LU1811366001
Class I2 Hedged	EUR	10.40	0.07	0.68	29-Nov-23	10.44	9.68	LU1811365706
Class A8 Hedged	NZD	7.58	0.05	0.66	29-Nov-23	7.82	7.12	LU1811365961
Class D2	EUR	10.66	0.06	0.57	29-Nov-23	10.78	9.97	LU1811365615
Class A6 Hedged	CHF	9.98	0.07	0.71	29-Nov-23	10.04	9.40	LU2655523319
Class A6	USD	7.55	0.05	0.67	29-Nov-23	7.84	7.08	LU1564329115
Class D2 Hedged	EUR	10.28	0.07	0.69	29-Nov-23	10.32	9.57	LU1811365888
Class I2	EUR	10.89	0.07	0.65	29-Nov-23	11.00	10.16	LU1811365532
Class A6 Hedged	GBP	6.85	0.04	0.59	29-Nov-23	7.19	6.44	LU1733224965

Portfolio Managers

CFA, CAIA, Managing Director

CFA, Managing Director

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.

Recommended holding period : 5 years

Example Investment EUR 10,000

Scenario	If you exit after 1 year	If you exit after 5 years
Minimum There is no minimum guaranteed return. You could lose some or all of your investment.
Stress What you might get back after costs Average return each year	7,360 EUR -26.4%	3,380 EUR -19.5%
Unfavourable What you might get back after costs Average return each year	7,360 EUR -26.4%	7,500 EUR -5.6%
Moderate What you might get back after costs Average return each year	9,700 EUR -3.0%	11,080 EUR 2.1%
Favourable What you might get back after costs Average return each year	12,530 EUR 25.3%	12,870 EUR 5.2%

The stress scenario shows what you might get back in extreme market circumstances.

Testing missing data Missing average annual returns data

Literature

Download

Performance

Performance

Chart

Distributions

Returns

Key Facts

Key Facts

Portfolio Characteristics

Portfolio Characteristics

Sustainability Characteristics

Sustainability Characteristics

Business Involvement

Business Involvement

ESG Integration

ESG Integration

Risk Indicator

Risk Indicator

Ratings

Holdings

Holdings

Exposure Breakdowns

Exposure Breakdowns

Pricing & Exchange

Pricing & Exchange

Portfolio Managers

Portfolio Managers

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

Literature

Literature