Equity

BGF Latin American Fund

Overview

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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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 (%) -1.7 -25.6 52.5 17.3 4.0 15.5 -18.9 -12.9 22.5 32.0
Constraint Benchmark 1 (%) -6.8 -27.0 56.3 13.0 -0.8 12.9 -16.5 -7.2 25.2
Comparator Benchmark 2 (%) -6.8 -27.0 56.3 13.0 -0.8 12.9 -16.5 -7.2 22.8 26.5

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

  1y 3y 5y 10y Incept.
20.37 10.01 2.97 4.88 3.06
Constraint Benchmark 1 (%) 15.68 - - - -
Comparator Benchmark 2 (%) 15.74 11.79 3.84 4.19 2.32
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-8.06 -3.13 -2.28 9.37 20.37 33.12 15.74 61.11 54.78
Constraint Benchmark 1 (%) -5.65 -2.65 -1.00 10.86 15.68 - - - -
Comparator Benchmark 2 (%) -5.98 -3.06 -1.15 10.69 15.74 39.72 20.74 50.68 39.48
  From
31.03.2019
To
31.03.2020
From
31.03.2020
To
31.03.2021
From
31.03.2021
To
31.03.2022
From
31.03.2022
To
31.03.2023
From
31.03.2023
To
31.03.2024
Total Return (%)

as of 31.Mar.2024

-36.70 30.71 21.52 -5.11 25.77
Constraint Benchmark 1 (%)

as of 31.Mar.2024

-37.76 34.87 29.45 - 20.04
Comparator Benchmark 2 (%)

as of 31.Mar.2024

-37.76 34.87 29.45 -4.88 20.96

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 GBP, 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 24.May.2024
USD 695,569,703
Fund Launch Date
08.Jan.1997
Fund Base Currency
USD
Constraint Benchmark 1
MSCI EM Latin America Net in GBP Performance Index
SFDR Classification
Other
Ongoing Charges Figures
0.03%
Annual Management Fee
0.00%
Minimum Initial Investment
GBP 10,000,000.00
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Latin America Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
B57W456
Share Class launch date
06.Nov.2009
Share Class Currency
GBP
Asset Class
Equity
Comparator Benchmark 2
MSCI Emerging Markets Latin America 10/40 Index
Initial Charge
0.00
ISIN
LU0462858670
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BLX4DSG

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30.Apr.2024
39
Standard Deviation (3y)
as of 30.Apr.2024
22.97%
P/E Ratio
as of 30.Apr.2024
10.28
12 Month Trailing Dividend Distribution Yield
as of 30.Apr.2024
5.72
3y Beta
as of 30.Apr.2024
0.99
P/B Ratio
as of 30.Apr.2024
1.59

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 19.May.2024
A
MSCI ESG Quality Score (0-10)
as of 19.May.2024
5.76
Fund Lipper Global Classification
as of 19.May.2024
Equity Emerging Mkts Latin Am
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 19.May.2024
106.45
MSCI ESG % Coverage
as of 19.May.2024
96.33
MSCI ESG Quality Score - Peer Percentile
as of 19.May.2024
86.60
Funds in Peer Group
as of 19.May.2024
97
MSCI Weighted Average Carbon Intensity % Coverage
as of 19.May.2024
95.43
All data is from MSCI ESG Fund Ratings as of 19.May.2024, based on holdings as of 31.Dec.2023. 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 30.Apr.2024
0.00%
MSCI - Nuclear Weapons
as of 30.Apr.2024
0.00%
MSCI - Civilian Firearms
as of 30.Apr.2024
0.00%
MSCI - Tobacco
as of 30.Apr.2024
0.00%
MSCI - UN Global Compact Violators
as of 30.Apr.2024
9.62%
MSCI - Thermal Coal
as of 30.Apr.2024
0.00%
MSCI - Oil Sands
as of 30.Apr.2024
0.00%

Business Involvement Coverage
as of 30.Apr.2024
100.03%
Percentage of Fund not covered
as of 30.Apr.2024
0.00%
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 9.62% and for Oil Sands 1.51%.

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 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 phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, 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

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BGF Latin American Fund, Class X4, as of 30.Apr.2024 rated against 197 Latin America Equity Funds.

Holdings

Holdings

as of 30.Apr.2024
Name Weight (%)
VALE SA 9.54
WAL MART DE MEXICO SAB DE CV 7.30
BANCO BRADESCO SA 6.61
PETROLEO BRASILEIRO SA PETROBRAS 6.43
GRUPO AEROPORTUARIO DEL PACIFICO SAB DE CV 5.20
Name Weight (%)
B3 SA BRASIL BOLSA BALCAO 4.46
AMBEV SA 4.31
ITAU UNIBANCO HOLDING SA 3.94
SOCIEDAD QUIMICA Y MINERA DE CHILE SA 3.62
LOJAS RENNER SA 3.56
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30.Apr.2024

% of Market Value

Type Fund Benchmark Net
as of 30.Apr.2024

% of Market Value

Type Fund Benchmark Net
as of 30.Apr.2024

% 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 X4 GBP 45.76 -0.48 -1.04 24.May.2024 50.96 41.52 LU0462858670
Class A4 GBP 45.77 -0.48 -1.04 24.May.2024 51.40 42.08 LU0204063647
Class D2 Hedged GBP 43.87 -0.43 -0.97 24.May.2024 49.36 38.52 LU0827884411
Class I2 EUR 11.41 -0.12 -1.04 24.May.2024 12.51 10.27 LU0368234455
Class I2 USD 12.38 -0.12 -0.96 24.May.2024 13.89 10.80 LU1847653067
Class A2 GBP 55.66 -0.59 -1.05 24.May.2024 62.51 51.17 LU0171289738
Class A2 Hedged PLN 8.75 -0.08 -0.91 24.May.2024 9.87 7.73 LU0480534832
Class D2 Hedged PLN 9.55 -0.09 -0.93 24.May.2024 10.74 8.40 LU0827884338
Class A4 EUR 54.56 -0.58 -1.05 24.May.2024 60.13 49.42 LU0408221785
Class A2 Hedged HKD 9.20 -0.09 -0.97 24.May.2024 10.42 8.13 LU0788109048
Class D4 GBP 45.91 -0.48 -1.03 24.May.2024 51.40 42.00 LU0827884098
Class A2 USD 70.83 -0.70 -0.98 24.May.2024 79.85 62.19 LU0072463663
Class A2 Hedged CHF 5.63 -0.05 -0.88 24.May.2024 6.45 5.08 LU0521028802
Class A2 Hedged SGD 6.34 -0.07 -1.09 24.May.2024 7.21 5.64 LU0572108347
Class D2 GBP 63.48 -0.67 -1.04 24.May.2024 71.07 58.08 LU0827883876
Class D2 Hedged EUR 50.23 -0.50 -0.99 24.May.2024 56.85 44.53 LU0827884254
Class D4 EUR 54.75 -0.58 -1.05 24.May.2024 60.38 49.36 LU0827883959
Class A2 EUR 65.31 -0.70 -1.06 24.May.2024 71.91 59.16 LU0171289498
Class D2 Hedged CHF 6.13 -0.06 -0.97 24.May.2024 7.00 5.51 LU0827884171
Class D2 USD 80.78 -0.80 -0.98 24.May.2024 90.78 70.58 LU0252970081
Class X2 USD 94.84 -0.94 -0.98 24.May.2024 106.05 82.22 LU0462856542
Class A2 Hedged AUD 9.56 -0.09 -0.93 24.May.2024 10.86 8.52 LU1023057877
Class D2 Hedged SGD 6.92 -0.07 -1.00 24.May.2024 7.84 6.13 LU0827884502
Class D2 EUR 74.48 -0.80 -1.06 24.May.2024 81.76 67.15 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 GBP 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
5,240 GBP
-47.6%
930 GBP
-37.8%

Unfavourable

What you might get back after costs
Average return each year
6,330 GBP
-36.7%
8,430 GBP
-3.4%

Moderate

What you might get back after costs
Average return each year
10,890 GBP
8.9%
12,000 GBP
3.7%

Favourable

What you might get back after costs
Average return each year
16,850 GBP
68.5%
17,430 GBP
11.8%

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



Literature

Literature

 
Please access the document library in order to find the KID/KIID in local language.