Equity

BGF Latin American Fund

  • NAV as of 12-Dec-24 EUR 44.01
    52 WK: 42.73 - 60.07
  • 1 Day NAV Change as of 12-Dec-24 0.22 (0.50%)

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 the equity securities (e.g. shares) of companies domiciled in, or the main business of which is in, Latin America.

The term Latin America refers to Mexico, Central America, South America and the islands of the Caribbean, including Puerto Rico.

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.

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

Chart

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Distributions

Ex-Date Total Distribution
View full table
Ex-Date Total Distribution
For more information: +44 (0) 20 7743 3300 • www.blackrock.com • investor.services@blackrock.com

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 2.86 -22.76 28.97 10.37 1.16 19.10 -24.90 -8.65 13.80 31.67
Constraint Benchmark 1 (%) -0.13 -23.18 34.96 8.69 -1.86 19.63 -20.92 -1.12 16.19 29.51

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 (%) -20.43 5.41 -3.74 -0.72 3.65
Constraint Benchmark 1 (%) -12.55 8.84 0.83 1.76 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -26.31 -7.85 -11.31 -16.14 -20.43 17.14 -17.35 -7.02 76.66
Constraint Benchmark 1 (%) -18.28 -2.87 -5.96 -10.27 -12.55 28.94 4.21 19.07 -
  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		 From
30-Sep-2023
To
30-Sep-2024
Total Return (%)

as of 30-Sep-24

-35.65 21.01 13.21 16.07 -10.15
Constraint Benchmark 1 (%)

as of 30-Sep-24

-34.33 28.84 18.80 11.31 -2.64

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 12-Dec-24
USD 548,207,855
Fund Launch Date
08-Jan-97
Base Currency
USD
Constraint Benchmark 1
MSCI Emerging Markets Latin America 10/40 Index
Initial Charge
5.00%
Management Fee
1.75%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGLAEA4
Inception Date
19-Jan-09
Share Class Currency
EUR
Asset Class
Equity
SFDR Classification
Other
Ongoing Charges Figures
2.08%
ISIN
LU0408221785
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Latin America Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
B3L15G3

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 29-Nov-24
34
Standard Deviation (3y)
as of 30-Nov-24
23.28%
P/E Ratio
as of 29-Nov-24
8.10
12 Month Trailing Dividend Distribution Yield
as of 30-Nov-24
3.60
3y Beta
as of 30-Nov-24
1.022
P/B Ratio
as of 29-Nov-24
1.19

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-Nov-24
A
MSCI ESG Quality Score (0-10)
as of 21-Nov-24
6.14
Fund Lipper Global Classification
as of 21-Nov-24
Equity Emerging Mkts Latin Am
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Nov-24
102.95
MSCI ESG % Coverage
as of 21-Nov-24
94.03
MSCI ESG Quality Score - Peer Percentile
as of 21-Nov-24
94.32
Funds in Peer Group
as of 21-Nov-24
88
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Nov-24
93.70
All data is from MSCI ESG Fund Ratings as of 21-Nov-24, based on holdings as of 30-Jun-24. 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 29-Nov-24
0.00%
MSCI - Nuclear Weapons
as of 29-Nov-24
0.00%
MSCI - Civilian Firearms
as of 29-Nov-24
0.00%
MSCI - Tobacco
as of 29-Nov-24
0.00%
MSCI - UN Global Compact Violators
as of 29-Nov-24
9.72%
MSCI - Thermal Coal
as of 29-Nov-24
0.00%
MSCI - Oil Sands
as of 29-Nov-24
0.00%
Business Involvement Coverage
as of 29-Nov-24
99.89%
Percentage of Fund not covered
as of 29-Nov-24
0.13%
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

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Holdings

Holdings

as of 29-Nov-24
Name Weight (%)
VALE SA 9.64
PETROLEO BRASILEIRO SA PETROBRAS 7.16
GRUPO FINANCIERO BANORTE SAB DE CV 7.08
WAL MART DE MEXICO SAB DE CV 6.18
FOMENTO ECONOMICO MEXICANO SAB DE CV 5.43
Name Weight (%)
BANCO BRADESCO SA 4.40
XP INC 4.24
RUMO SA 3.94
B3 SA BRASIL BOLSA BALCAO 3.72
REDE D OR SAO LUIZ SA 3.64
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29-Nov-24

% of Market Value

Type Fund Benchmark Net
as of 29-Nov-24

% of Market Value

Type Fund Benchmark Net
as of 29-Nov-24

% 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 A4 EUR 44.01 0.22 0.50 12-Dec-24 60.07 42.73 LU0408221785
Class A4 GBP 35.78 0.31 0.87 12-Dec-24 51.40 34.98 LU0204063647
Class A2 Hedged CHF 4.45 0.03 0.68 12-Dec-24 6.45 4.34 LU0521028802
Class X4 GBP 35.38 0.30 0.86 12-Dec-24 50.96 34.57 LU0462858670
Class D2 Hedged EUR 40.27 0.26 0.65 12-Dec-24 56.85 39.20 LU0827884254
Class C2 USD 40.86 0.26 0.64 12-Dec-24 57.75 39.80 LU0147409378
Class D2 GBP 51.42 0.43 0.84 12-Dec-24 71.07 50.26 LU0827883876
Class D4 GBP 35.74 0.30 0.85 12-Dec-24 51.40 34.93 LU0827884098
Class A2 Hedged PLN 7.06 0.05 0.71 12-Dec-24 9.87 6.87 LU0480534832
Class A2 USD 57.17 0.37 0.65 12-Dec-24 79.85 55.67 LU0072463663
Class D4 EUR 43.98 0.22 0.50 12-Dec-24 60.09 42.70 LU0827883959
Class A2 GBP 44.90 0.38 0.85 12-Dec-24 62.51 43.90 LU0171289738
Class D2 Hedged CHF 4.86 0.03 0.62 12-Dec-24 7.00 4.74 LU0827884171
Class A2 Hedged SGD 5.06 0.03 0.60 12-Dec-24 7.21 4.93 LU0572108347
Class D2 USD 65.47 0.42 0.65 12-Dec-24 90.78 63.75 LU0252970081
Class D2 Hedged PLN 7.74 0.05 0.65 12-Dec-24 10.74 7.52 LU0827884338
Class X2 USD 77.41 0.51 0.66 12-Dec-24 106.05 75.34 LU0462856542
Class E2 USD 51.12 0.33 0.65 12-Dec-24 71.74 49.79 LU0147409709
Class I2 EUR 9.55 0.05 0.53 12-Dec-24 12.51 9.27 LU0368234455
Class A2 EUR 54.36 0.27 0.50 12-Dec-24 71.91 52.79 LU0171289498
Class D2 Hedged GBP 35.57 0.23 0.65 12-Dec-24 49.36 34.61 LU0827884411
Class E2 EUR 48.61 0.24 0.50 12-Dec-24 64.61 47.21 LU0171289571
Class A2 Hedged HKD 7.37 0.05 0.68 12-Dec-24 10.42 7.18 LU0788109048
Class D2 Hedged SGD 5.54 0.03 0.54 12-Dec-24 7.84 5.40 LU0827884502
Class J2 USD 82.89 0.54 0.66 12-Dec-24 113.56 80.67 LU0245446215
Class E2 GBP 40.15 0.34 0.85 12-Dec-24 56.16 39.26 LU0171289811
Class A2 Hedged AUD 7.65 0.04 0.53 12-Dec-24 10.86 7.45 LU1023057877
Class C2 EUR 38.85 0.19 0.49 12-Dec-24 52.01 37.74 LU0331286228
Class I2 USD 10.05 0.07 0.70 12-Dec-24 13.89 9.78 LU1847653067
Class D2 EUR 62.26 0.32 0.52 12-Dec-24 81.76 60.44 LU0252965164

Portfolio Managers

Portfolio Managers

Samuel Vecht
Samuel Vecht
Christoph Brinkmann
Christoph Brinkmann

PRIIPs Performance Scenarios

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
5,760 EUR
-42.4%
730 EUR
-40.7%

Unfavourable

What you might get back after costs
Average return each year
5,760 EUR
-42.4%
6,730 EUR
-7.6%

Moderate

What you might get back after costs
Average return each year
10,100 EUR
1.0%
9,550 EUR
-0.9%

Favourable

What you might get back after costs
Average return each year
13,890 EUR
38.9%
12,580 EUR
4.7%

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



Literature

Literature