Fixed Income

BSF Emerging Markets Flexi Dynamic Bond Fund

  • NAV as of 04-Dec-25 EUR 71.59
    52 WK: 66.77 - 73.01
  • 1 Day NAV Change as of 04-Dec-25 EUR 0.04 (0.06%)
  • Morningstar Rating

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 seeks to gain at least 70% of any investment exposure to fixed income (FI) securities and FI-related securities denominated in both emerging market and nonemerging market currencies, issued by, or giving exposure to, governments, government agencies and supranationals (e.g. the International Bank for Reconstruction and Development) of emerging market countries, and companies domiciled or the main business of which is in, emerging market countries.

This is achieved by investing at least 70% of its total assets in FI securities, FI-related securities, deposits and cash. FI securities include bonds (which may be unrated or have a low credit rating) as well as money market instruments (i.e. debt securities with short term maturities). FI-related securities include financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) which may generate market leverage (i.e. where the Fund gains market exposure in excess of the value of its assets).

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
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Ex-Date Total Distribution

This chart shows the product's performance as the percentage loss or gain per year over the last 8 years.

  2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Return (%) EUR 3.64 -13.91 3.38 13.57 -12.32 -8.87 12.95 1.24
Comparator Benchmark 1 (%) USD 1.11 2.08 2.60 1.08 0.16 1.70 5.21 5.37
Comparator Benchmark 2 (%) USD 12.74 -5.15 14.31 4.02 -5.32 -14.75 11.92 2.01

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 (%) EUR 7.47 7.80 0.52 - 1.30
Comparator Benchmark 1 (%) USD 4.46 5.00 3.28 - 2.48
Comparator Benchmark 2 (%) USD 13.59 10.12 1.80 - 3.52
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) EUR 8.42 0.82 2.93 6.65 7.47 25.28 2.64 - 13.08
Comparator Benchmark 1 (%) USD 4.05 0.33 1.06 2.18 4.46 15.76 17.52 - 26.30
Comparator Benchmark 2 (%) USD 15.51 0.88 3.81 8.80 13.59 33.53 9.31 - 39.02
  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		 From
30-Sep-2024
To
30-Sep-2025
Total Return (%) EUR

as of 30-Sep-25

1.27 -17.99 5.31 16.69 2.70
Comparator Benchmark 1 (%) USD

as of 30-Sep-25

0.21 0.77 4.76 5.54 4.57
Comparator Benchmark 2 (%) USD

as of 30-Sep-25

3.52 -22.45 11.58 16.00 7.98

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

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-Dec-25
USD 1,195,560,788
Fund Launch Date
12-Jun-13
Base Currency
USD
Comparator Benchmark 1
3 Month SOFR Compounded in Arrears
SFDR Classification
Other
Ongoing Charges Figures
0.84%
ISIN
LU1418627409
Minimum Initial Investment
USD 10,000,000.00
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Global Emerging Markets Bond - EUR Hedged
Dealing Frequency
Daily, forward pricing basis
SEDOL
BYQPZP6
Inception Date
25-May-16
Share Class Currency
EUR
Asset Class
Fixed Income
Comparator Benchmark 2
50% EMBIGLDIV / 50% JPMGBIEGDV Composite Index (USD)
Initial Charge
0.00%
Management Fee
0.75%
Performance Fee
0.00%
Minimum Subsequent Investment
-
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BREXI4E

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28-Nov-25
4
Standard Deviation (3y)
as of 30-Nov-25
6.06%
Yield to Maturity
as of 28-Nov-25
7.85
Weighted Average YTM
as of 28-Nov-25
7.77%
Weighted Avg Maturity
as of 28-Nov-25
6.75
12 Month Trailing Dividend Distribution Yield
as of 30-Nov-25
7.44
3y Beta
as of 30-Nov-25
4.622
Modified Duration
as of 28-Nov-25
5.49
Effective Duration
as of 28-Nov-25
5.46
WAL to Worst
as of 28-Nov-25
6.75

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BSF Emerging Markets Flexi Dynamic Bond Fund, Class I4 Hedged, as of 31-Jan-23 rated against 826 Global Emerging Markets Bond - EUR Hedged Funds.

Holdings

Holdings

as of 28-Nov-25
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 04/01/2026 3.12
SOUTH AFRICA (REPUBLIC OF) 8.5 01/31/2037 2.69
COLOMBIA REPUBLIC OF (GOVERNMENT) 7.75 09/18/2030 2.35
POLAND (REPUBLIC OF) 5 01/25/2030 2.31
PERU (REPUBLIC OF) 6.85 08/12/2035 2.25
Name Weight (%)
MEXICO (UNITED MEXICAN STATES) (GO 8.5 03/01/2029 2.07
PHILIPPINES (REPUBLIC OF) 6.375 04/28/2035 2.06
THAILAND KINGDOM OF (GOVERNMENT) 2.5 11/17/2029 1.84
MALAYSIA (GOVERNMENT) 3.828 07/05/2034 1.80
MALAYSIA (GOVERNMENT) 3.885 08/15/2029 1.55
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28-Nov-25

% of Market Value

Type Fund Benchmark Net
as of 28-Nov-25

% of Market Value

Type Fund Benchmark Net
as of 28-Nov-25

% of Market Value

Type Fund Benchmark Net
as of 28-Nov-25

% of Market Value

Type Fund Benchmark Net
as of 28-Nov-25

% 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 I4 Hedged EUR 71.59 0.04 0.06 04-Dec-25 73.01 66.77 LU1418627409
Class A4 Hedged GBP 76.96 0.06 0.08 04-Dec-25 77.07 71.42 LU1072457747
Class A2 Hedged SEK 93.55 0.05 0.05 04-Dec-25 93.55 84.99 LU1715606080
Class A2 Hedged CHF 87.30 0.04 0.05 04-Dec-25 87.30 80.41 LU1567863144
Class E2 USD 125.44 0.11 0.09 04-Dec-25 125.44 112.38 LU0949128499
Class D5 EUR 83.39 0.00 0.00 04-Dec-25 92.18 79.03 LU1800013283
Class I2 USD 147.06 0.12 0.08 04-Dec-25 147.06 130.52 LU1118028742
Class I3 USD 71.94 0.06 0.08 04-Dec-25 71.94 66.75 LU1572169453
Class A2 Hedged EUR 107.37 0.07 0.07 04-Dec-25 107.37 97.52 LU1072451542
Class D2 USD 147.02 0.13 0.09 04-Dec-25 147.02 130.64 LU0949128572
Class X2 Hedged AUD 133.88 0.12 0.09 04-Dec-25 133.88 118.78 LU1435395550
Class D5 USD 84.92 0.07 0.08 04-Dec-25 84.92 78.04 LU1308276671
Class D2 Hedged CHF 92.71 0.04 0.04 04-Dec-25 92.71 85.00 LU1567862849
Class D2 Hedged EUR 119.08 0.08 0.07 04-Dec-25 119.08 107.63 LU0949128226
Class X2 Hedged CAD 119.01 0.09 0.08 04-Dec-25 119.01 106.48 LU1728553345
Class D5 Hedged EUR 70.85 0.05 0.07 04-Dec-25 71.03 66.15 LU1814255391
Class D4 Hedged GBP 76.73 0.06 0.08 04-Dec-25 76.91 70.85 LU1093538335
Class AI2 Hedged EUR 102.23 0.06 0.06 04-Dec-25 102.23 92.76 LU2008561636
Class X2 USD 167.07 0.15 0.09 04-Dec-25 167.07 147.55 LU0946833604
Class E2 Hedged EUR 102.43 0.06 0.06 04-Dec-25 102.43 93.32 LU0949128143
Class I5 EUR 79.87 0.00 0.00 04-Dec-25 88.45 75.83 LU1722863567
Class I5 Hedged EUR 65.94 0.04 0.06 04-Dec-25 66.09 61.54 LU1781817264
Class I2 Hedged EUR 105.53 0.07 0.07 04-Dec-25 105.53 95.19 LU1648247721
Class X5 EUR 80.94 0.00 0.00 04-Dec-25 89.40 76.59 LU1648246756
Class D4 GBP 85.66 -0.30 -0.35 04-Dec-25 92.64 78.12 LU0997362164
Class A2 USD 133.39 0.11 0.08 04-Dec-25 133.39 119.12 LU0940382277

Portfolio Managers

Portfolio Managers

Nigel Ng Yan Luk
Nigel Ng Yan Luk
Laurent Develay
Laurent Develay
Michal Wozniak
Michal Wozniak
Ana-Sofia Monck
Ana-Sofia Monck

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 : 3 years
Example Investment EUR 10,000
Scenarios
If you exit after 1 year
If you exit after 3 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
8,200 EUR
-18.0%
7,820 EUR
-7.9%

Unfavourable

What you might get back after costs
Average return each year
8,200 EUR
-18.0%
8,610 EUR
-4.9%

Moderate

What you might get back after costs
Average return each year
10,270 EUR
2.7%
9,650 EUR
-1.2%

Favourable

What you might get back after costs
Average return each year
11,950 EUR
19.5%
12,770 EUR
8.5%

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



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.

Literature

Literature