Equity

BGF Japan Flexible Equity Fund

Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. The value of equities and equity-related securities can be affected by daily stock market movements, political factors, economic news, company earnings and significant corporate events. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

Overview

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Performance

Performance

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Distributions

Ex-Date Distribution
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  1y 3y 5y 10y Incept.
17.09 4.87 7.20 8.66 5.64
11.24 3.09 6.10 8.10 5.36
Benchmark (%) 12.97 4.95 5.69 8.37 6.56
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
13.15 5.43 -0.20 0.46 17.09 15.33 41.56 129.37 195.48
7.50 0.16 -5.19 -4.56 11.24 9.57 34.48 117.90 180.71
Benchmark (%) 9.00 1.81 -0.55 1.71 12.97 15.60 31.85 123.38 250.62

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -2.50 13.27 20.91 16.08 -11.76 16.12 20.89 0.23 -11.09 15.69
Benchmark (%) 1.95 15.91 22.12 13.25 -7.47 14.99 10.95 2.65 -6.14 13.53
Performance of the Fund is calculated on NAV to NAV basis on the assumption that all dividends and distributions are reinvested, taking into account all charges which would have been payable upon such reinvestment.

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 JPY.

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

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

Key Facts

Key Facts

Net Assets of Fund
as of 05-Dec-2024
JPY 105,175,151,913
Fund Inception
18-Feb-2005
Fund Base Currency
JPY
Benchmark
MSCI Japan (Net) in GBP
Initial Charge
5.00%
ISIN
LU0236176334
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
MLJVADS
MAS ESG Fund
No
Share Class Inception Date
28-Feb-2005
Share Class Currency
GBP
Asset Class
Equity
SFDR Classification
Article 8
Management Fee
1.50%
Management Fee (incl. Distribution Fee, if any)
1.50%
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Japan Large-Cap Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
B1RDJK1

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 29-Nov-2024
51
3y Beta
as of 30-Nov-2024
0.966
P/B Ratio
as of 29-Nov-2024
1.48
Since Share Inception – Annualised Volatility
as of 30-Nov-2024
14.29
Standard Deviation (3y)
as of 30-Nov-2024
11.39%
P/E Ratio
as of 29-Nov-2024
16.12
5Y Annualised Volatility
as of 30-Nov-2024
12.61

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-2024
A
MSCI ESG Quality Score (0-10)
as of 21-Nov-2024
6.77
Fund Lipper Global Classification
as of 21-Nov-2024
Equity Japan
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Nov-2024
72.23
MSCI ESG % Coverage
as of 21-Nov-2024
97.59
MSCI ESG Quality Score - Peer Percentile
as of 21-Nov-2024
20.36
Funds in Peer Group
as of 21-Nov-2024
884
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Nov-2024
95.21
All data is from MSCI ESG Fund Ratings as of 21-Nov-2024, based on holdings as of 30-Jun-2024. 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-2024
0.00%
MSCI - Nuclear Weapons
as of 29-Nov-2024
0.00%
MSCI - Civilian Firearms
as of 29-Nov-2024
0.00%
MSCI - Tobacco
as of 29-Nov-2024
0.00%
MSCI - UN Global Compact Violators
as of 29-Nov-2024
0.00%
MSCI - Thermal Coal
as of 29-Nov-2024
0.00%
MSCI - Oil Sands
as of 29-Nov-2024
0.00%

Business Involvement Coverage
as of 29-Nov-2024
100.05%
Percentage of Fund not covered
as of 29-Nov-2024
0.45%
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 1.46% 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.

Ratings

Ratings

Morningstar Rating

3 stars
As of 30-Nov-2024

Holdings

Holdings

as of 29-Nov-2024
Name Weight (%)
MITSUBISHI UFJ FINANCIAL GROUP INC 5.08
SONY GROUP CORP 4.77
HITACHI LTD 4.50
SUMITOMO MITSUI FINANCIAL GROUP INC 4.08
RECRUIT HOLDINGS CO LTD 4.00
Name Weight (%)
TOYOTA MOTOR CORPORATION 3.85
TOKIO MARINE HOLDINGS INC 3.57
NINTENDO CO LTD 3.05
FAST RETAILING CO LTD 2.92
DAIICHI SANKYO CO LTD 2.87

Exposure Breakdowns

Exposure Breakdowns

as of 29-Nov-2024

% of Weight

Type Fund Benchmark Net
as of 29-Nov-2024

% of Weight

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.
Due to rounding, the total may not be equal to 100%

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A4 GBP 15.43 -0.06 -0.39 05-Dec-2024 15.71 12.86 LU0236176334
A2 Hedged EUR 18.47 0.01 0.05 05-Dec-2024 19.95 14.44 LU0255399239
D2 Hedged EUR 20.25 0.01 0.05 05-Dec-2024 21.81 15.72 LU0827883793
D2 EUR 21.58 -0.11 -0.51 05-Dec-2024 21.93 17.27 LU0827883447
A2 Hedged USD 33.21 0.02 0.06 05-Dec-2024 35.74 25.62 LU0940328577
D2 USD 22.82 0.03 0.13 05-Dec-2024 23.29 18.71 LU0827883520
D4 GBP 15.78 -0.06 -0.38 05-Dec-2024 16.07 13.14 LU0827883363
A2 JPY 3,014.00 1.00 0.03 05-Dec-2024 3,251.00 2,394.00 LU0249410860
A2 EUR 18.94 -0.10 -0.53 05-Dec-2024 19.25 15.27 LU0212924608
A2 USD 20.03 0.03 0.15 05-Dec-2024 20.50 16.54 LU0212924517
A2 Hedged SGD 10.00 0.00 0.00 05-Dec-2024 10.00 10.00 LU2931904705

Portfolio Managers

Portfolio Managers

Rie Shigekawa
Rie Shigekawa
Goro Takahashi
Goro Takahashi

Documents

Documents