Fixed Income

BGF Emerging Markets 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

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Distributions

Record Date Ex-Date Payable Date
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  1y 3y 5y 10y Incept.
-26.15 -8.36 -5.60 - -2.78
-29.84 -9.92 -6.56 - -3.55
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-25.17 -0.08 -8.77 -15.31 -26.15 -23.05 -25.02 - -16.67
-28.91 -5.07 -13.33 -19.54 -29.84 -26.90 -28.77 - -20.83
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

Net Assets of Fund as of 28-Nov-2022 USD 926,748,798
Share Class Inception Date 11-May-2016
Fund Inception 01-Oct-2004
Share Class Currency GBP
Fund Base Currency USD
Asset Class Fixed Income
Benchmark JPM EMBI Glb Div.
SFDR Classification Other
Initial Charge 5.00%
Management Fee (incl. Distribution Fee, if any) 1.25%
Performance Fee 0.00%
Minimum Initial Investment GBP 5000
Minimum Subsequent Investment -
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Bond
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGEMA6G
ISIN LU1408527916
SEDOL BZBVQ86
MAS ESG Fund No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Oct-2022 268
Standard Deviation (3y) as of 31-Oct-2022 15.83%
3y Beta as of 31-Oct-2022 1.204
Yield to Maturity as of 31-Oct-2022 9.11
Modified Duration as of 31-Oct-2022 6.65
Effective Duration as of 31-Oct-2022 6.84yrs
Weighted Avg Maturity as of 31-Oct-2022 12.75
WAL to Worst as of 31-Oct-2022 12.75
5Y Annualised Volatility as of 31-Oct-2022 12.94
Since Share Inception – Annualised Volatility as of 31-Oct-2022 11.72

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-Sep-2022 BB
MSCI ESG % Coverage as of 21-Sep-2022 91.97
MSCI ESG Quality Score (0-10) as of 21-Sep-2022 2.88
MSCI ESG Quality Score - Peer Percentile as of 21-Sep-2022 15.66
Fund Lipper Global Classification as of 21-Sep-2022 Bond Emerging Markets Global HC
Funds in Peer Group as of 21-Sep-2022 415
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Sep-2022 1,014.12
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Sep-2022 15.21
All data is from MSCI ESG Fund Ratings as of 21-Sep-2022, based on holdings as of 30-Apr-2022. 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% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch.

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 31-Oct-2022 0.00%
MSCI - UN Global Compact Violators as of 31-Oct-2022 4.52%
MSCI - Nuclear Weapons as of 31-Oct-2022 0.00%
MSCI - Thermal Coal as of 31-Oct-2022 0.00%
MSCI - Civilian Firearms as of 31-Oct-2022 0.00%
MSCI - Oil Sands as of 31-Oct-2022 0.00%
MSCI - Tobacco as of 31-Oct-2022 0.00%

Business Involvement Coverage as of 31-Oct-2022 10.97%
Percentage of Fund not covered as of 31-Oct-2022 88.79%
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 0.35% 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

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 combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager 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, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Holdings

Holdings

as of 31-Oct-2022
Name Weight (%)
OMAN SULTANATE OF (GOVERNMENT) RegS 6.5 03/08/2047 1.46
PERU (REPUBLIC OF) 3 01/15/2034 1.38
DOMINICAN REPUBLIC (GOVERNMENT) RegS 6 02/22/2033 1.33
BRAZIL (FEDERATIVE REPUBLIC OF) 5 01/27/2045 1.26
COLOMBIA REPUBLIC OF (GOVERNMENT) 5 06/15/2045 1.24
Name Weight (%)
SOUTH AFRICA (REPUBLIC OF) 8.75 02/28/2048 1.20
OMAN SULTANATE OF (GOVERNMENT) RegS 6.75 01/17/2048 1.10
QATAR (STATE OF) RegS 3.75 04/16/2030 1.08
EGYPT (ARAB REPUBLIC OF) MTN RegS 7.625 05/29/2032 1.07
QATAR (STATE OF) RegS 4.817 03/14/2049 1.02

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-2022

% of Weight

Type Fund Benchmark Net
as of 31-Oct-2022

% of Weight

Type Fund Benchmark Net
as of 31-Oct-2022

% of Weight

Type Fund Benchmark Net
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 31-Oct-2022

% of Weight

Type Fund Benchmark Net
as of 31-Oct-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%

Pricing & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
A6 Hedged GBP Monthly 6.33 0.01 0.16 28-Nov-2022 8.37 5.70 LU1408527916 -
A3 EUR Monthly 7.43 -0.02 -0.27 28-Nov-2022 8.74 7.05 LU0200684008 -
A1 EUR Monthly 7.17 -0.02 -0.28 28-Nov-2022 8.46 6.81 LU0200683703 -
D3 USD Monthly 7.76 0.01 0.13 28-Nov-2022 9.89 6.95 LU0827876821 -
A8 Hedged CNH Monthly 76.84 0.15 0.20 28-Nov-2022 101.36 69.11 LU1919856051 -
A3 USD Monthly 7.75 0.02 0.26 28-Nov-2022 9.87 6.94 LU0200680782 -
D2 EUR N/A 17.10 0.27 1.60 29-Nov-2022 19.00 15.90 LU0827877043 -
A8 Hedged ZAR Monthly 68.50 0.13 0.19 28-Nov-2022 89.91 61.58 LU1109561420 -
A4 EUR Annually 10.16 -0.02 -0.20 28-Nov-2022 12.03 9.60 LU1072326561 -
A1 USD Monthly 7.53 0.06 0.80 29-Nov-2022 9.55 6.70 LU0200680436 -
A8 Hedged AUD Monthly 6.09 0.02 0.33 28-Nov-2022 8.01 5.47 LU0871639893 -
A2 Hedged GBP N/A 9.65 0.02 0.21 28-Nov-2022 12.07 8.64 LU1057296771 -
A6 USD Monthly 6.38 0.01 0.16 28-Nov-2022 8.29 5.72 LU0764617162 -
A6 Hedged HKD Monthly 47.05 0.09 0.19 28-Nov-2022 61.70 42.26 LU0764619960 -
D2 USD N/A 17.55 0.04 0.23 28-Nov-2022 21.46 15.64 LU0297941386 -
A2 Hedged EUR N/A 13.26 0.02 0.15 28-Nov-2022 16.84 11.89 LU0413376566 -
A2 CZK N/A 373.81 -1.06 -0.28 28-Nov-2022 443.84 355.65 LU1791181735 -
A6 Hedged CAD Monthly 6.68 0.02 0.30 28-Nov-2022 8.75 6.00 LU1408528054 -
D3 EUR Monthly 7.44 -0.02 -0.27 28-Nov-2022 8.76 7.07 LU0827877126 -
A2 USD N/A 16.01 0.03 0.19 28-Nov-2022 19.69 14.28 LU0200680600 -
D2 Hedged EUR N/A 14.08 0.03 0.21 28-Nov-2022 17.77 12.62 LU0827877399 -
A2 EUR N/A 15.36 -0.03 -0.19 28-Nov-2022 17.44 14.52 LU0200683885 -
A8 Hedged NZD Monthly 6.80 0.05 0.74 29-Nov-2022 8.87 6.07 LU1408528138 -

Ratings

Portfolio Managers

Portfolio Managers

Amer Bisat
Amer Bisat
Michel Aubenas
Michel Aubenas
Amer Bisat
Amer Bisat

Documents

Documents