Fixed Income

BGF European High Yield Bond Fund

Overview

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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

Performance

Performance

Chart

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  1y 3y 5y 10y Incept.
-15.63 -1.90 -0.06 - 1.12
-19.84 -3.56 -1.08 - 0.37
Benchmark (%)

as of 30-Jun-2022

-13.87 -2.06 -0.02 - 1.66
  YTD 6m 1y 3y 5y 10y Incept.
-15.89 -15.89 -15.63 -5.59 -0.28 - 8.00
-20.09 -20.09 -19.84 -10.31 -5.26 - 2.60
Benchmark (%)

as of 30-Jun-2022

-14.17 -14.17 -13.87 -6.05 -0.12 - 12.10
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.

Key Facts

Key Facts

Size of Fund (Millions) as of 05-Jul-2022 EUR 373.384
Base Currency Euro
Fund Inception 23-Jul-2015
Share Class Currency Euro
Share Class Inception Date 23-Jul-2015
Additional Currencies British Pound, Swedish Krona, Swiss Franc
Asset Class Fixed Income
Morningstar Category EUR High Yield Bond
Benchmark Bar Pan Eur HY 3% Issuers Con.100% Eur Hgd
Distribution Frequency N/A
ISIN LU1191877379
Bloomberg Ticker BGEHYA2
Management Fee (incl. Distribution Fee, if any) 1.00%
Initial Charge 5.00%

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 31-May-2022 7.49
Modified Duration as of 31-May-2022 3.46
Effective Duration as of 31-May-2022 3.39yrs
3y Volatility as of 30-Jun-2022 10.32
5Y Annualised Volatility as of 30-Jun-2022 8.33
Since Share Inception – Annualised Volatility as of 30-Jun-2022 7.72
Since Share Inception - Beta as of 30-Jun-2022 0.99

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in the investment research, portfolio construction, and investment monitoring phases of the investment process. The Fund manager maintains internal ESG scorecards for new primary issuers under consideration for investment and existing issuers of publicly traded securities. These scorecards analyze and track internal and external research views across a range of environmental, social, and governance factors sourced from primary and third party ESG information and research. Portfolio management teams consider the sector and issuer ESG views and scores when selecting individual investments during portfolio construction. ESG factors are debated and considered in investment decisions. The Fund manager also considers ESG criteria during post-investment monitoring and conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks.

Holdings

Holdings

as of 31-May-2022
Name Weight (%)
CELLNEX TELECOM SA RegS 0.75 11/20/2031 1.85
COMMERZBANK AG RegS 6.125 12/31/2049 1.25
AUTOSTRADE PER LITALIA SPA RegS 2 01/15/2030 0.98
TELE COLUMBUS AG RegS 3.875 05/02/2025 0.98
RCI BANQUE SA RegS 2.625 02/18/2030 0.97
Name Weight (%)
BANCO BILBAO VIZCAYA ARGENTARIA SA RegS 6 12/31/2049 0.94
INTESA SANPAOLO SPA PNC7.5 RegS 5.5 12/31/2049 0.92
NIDDA HEALTHCARE HOLDING AG RegS 3.5 09/30/2024 0.91
DEUTSCHE BANK AG MTN RegS 4 06/24/2032 0.90
CARNIVAL CORP RegS 10.125 02/01/2026 0.90

Exposure Breakdowns

Exposure Breakdowns

as of 31-May-2022

% of Weight

Type Fund Benchmark Net
as of 31-May-2022

% of Weight

Type Fund Benchmark Net
as of 31-May-2022

% 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%

Ratings

Ratings

Morningstar Rating

4 stars
As of 30-Jun-2022

Pricing & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of ISIN
A2 EUR N/A 10.79 0.02 0.19 05-Jul-2022 LU1191877379
D2 EUR N/A 11.21 0.02 0.18 05-Jul-2022 LU1191877965
D4 EUR Annually 8.88 0.02 0.23 05-Jul-2022 LU1258857561
D4 Hedged GBP Annually 9.25 0.01 0.11 05-Jul-2022 LU1258858023
A2 Hedged SEK N/A 107.01 0.18 0.17 05-Jul-2022 LU1258857645
A2 Hedged CHF N/A 10.49 0.02 0.19 05-Jul-2022 LU1258857728

Portfolio Managers

Portfolio Managers

Stephen Gough
Stephen Gough
Jose Aguilar
Jose Aguilar
James Turner
James Turner

Documents

Documents