Fixed Income

BGF Euro Bond Fund

Credit risk, changes to interest rates and/or issuer defaults will have a significant impact on the performance of fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way. 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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  1y 3y 5y 10y Incept.
5.84 -1.24 -0.03 - 1.15
3.72 -4.64 -2.51 0.19 3.80
0.55 -2.92 -1.05 - 0.48
-1.47 -6.26 -3.50 -0.32 3.62
Benchmark (%) 3.54 -4.49 -2.29 - -0.89
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-0.46 0.65 -0.44 -0.46 5.84 -3.69 -0.16 - 9.20
-1.34 0.49 -0.90 -1.34 3.72 -13.28 -11.93 1.96 208.97
-5.44 -4.39 -5.42 -5.44 0.55 -8.50 -5.15 - 3.74
-6.27 -4.53 -5.85 -6.27 -1.47 -17.62 -16.33 -3.14 193.52
Benchmark (%) -1.23 0.34 -0.89 -1.23 3.54 -12.87 -10.93 - -6.64
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 PLN, hedged share class benchmark performance is displayed in EUR.

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 22-Jul-2024
EUR 1,966,096,678
Fund Inception
31-Mar-1994
Fund Base Currency
EUR
Benchmark
BBG Bar Eur-Agg 500mm+ Bd
Initial Charge
5.00%
Management Fee (incl. Distribution Fee, if any)
0.75%
Minimum Initial Investment
PLN 5000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Other Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
BD60FB0
Share Class Inception Date
19-Oct-2016
Share Class Currency
PLN
Asset Class
Fixed Income
SFDR Classification
Article 8
ISIN
LU1499592381
Performance Fee
0.00%
Minimum Subsequent Investment
-
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
BGEA2PH
MAS ESG Fund
No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28-Jun-2024
721
3y Beta
as of 30-Jun-2024
0.963
Modified Duration
as of 28-Jun-2024
6.67
Weighted Avg Maturity
as of 28-Jun-2024
8.44
5Y Annualised Volatility
as of 30-Jun-2024
6.20
Standard Deviation (3y)
as of 30-Jun-2024
6.96%
Yield to Maturity
as of 28-Jun-2024
3.60
Effective Duration
as of 28-Jun-2024
6.73yrs
WAL to Worst
as of 28-Jun-2024
8.44
Since Share Inception – Annualised Volatility
as of 30-Jun-2024
5.22

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-Jun-2024
A
MSCI ESG Quality Score (0-10)
as of 21-Jun-2024
6.99
Fund Lipper Global Classification
as of 21-Jun-2024
Bond EUR
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Jun-2024
61.74
MSCI ESG % Coverage
as of 21-Jun-2024
93.88
MSCI ESG Quality Score - Peer Percentile
as of 21-Jun-2024
56.17
Funds in Peer Group
as of 21-Jun-2024
308
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Jun-2024
47.83
All data is from MSCI ESG Fund Ratings as of 21-Jun-2024, based on holdings as of 31-Jan-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 28-Jun-2024
0.00%
MSCI - Nuclear Weapons
as of 28-Jun-2024
0.00%
MSCI - Civilian Firearms
as of 28-Jun-2024
0.00%
MSCI - Tobacco
as of 28-Jun-2024
0.00%
MSCI - UN Global Compact Violators
as of 28-Jun-2024
0.00%
MSCI - Thermal Coal
as of 28-Jun-2024
0.00%
MSCI - Oil Sands
as of 28-Jun-2024
0.00%

Business Involvement Coverage
as of 28-Jun-2024
37.35%
Percentage of Fund not covered
as of 28-Jun-2024
62.64%
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 0.29% and for Oil Sands 0.35%.

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.

Ratings

Holdings

Holdings

as of 28-Jun-2024
Name Weight (%)
ITALY (REPUBLIC OF) 4 04/30/2035 1.99
SPAIN (KINGDOM OF) 3.45 10/31/2034 1.62
FRANCE (REPUBLIC OF) 0 02/25/2026 1.59
GERMANY (FEDERAL REPUBLIC OF) 2.3 02/15/2033 1.58
GERMANY (FEDERAL REPUBLIC OF) 3.25 07/04/2042 1.41
Name Weight (%)
IRELAND (GOVERNMENT) 2.6 10/18/2034 1.37
FRANCE (REPUBLIC OF) 2.75 02/25/2029 1.36
GERMANY (FEDERAL REPUBLIC OF) 2.2 02/15/2034 1.36
GERMANY (FEDERAL REPUBLIC OF) 2.1 04/12/2029 1.24
FRANCE (REPUBLIC OF) 0.75 02/25/2028 1.22

Exposure Breakdowns

Exposure Breakdowns

as of 28-Jun-2024

% of Weight

Type Fund Benchmark Net
as of 28-Jun-2024

% 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 28-Jun-2024

% of Weight

Type Fund Benchmark Net
as of 28-Jun-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
A2 Hedged PLN 110.45 0.02 0.02 22-Jul-2024 110.71 101.57 LU1499592381
A2 Hedged USD 13.18 0.01 0.08 22-Jul-2024 13.21 12.11 LU0869650977
A4 GBP 20.30 0.01 0.05 22-Jul-2024 21.14 19.42 LU0204069685
D2 Hedged USD 13.74 0.01 0.07 22-Jul-2024 13.77 12.59 LU0869640077
D3 USD 19.33 0.01 0.05 22-Jul-2024 20.11 17.58 LU0827877639
A4 EUR 24.02 0.01 0.04 22-Jul-2024 24.23 22.37 LU0430265933
D2 USD 30.98 0.00 0.00 22-Jul-2024 31.84 27.74 LU0827877472
A3 USD 19.22 0.00 0.00 22-Jul-2024 20.00 17.48 LU0172748641
D2 Hedged CHF 10.47 0.01 0.10 22-Jul-2024 10.69 9.92 LU1266592374
A3 EUR 17.67 0.00 0.00 22-Jul-2024 18.01 16.67 LU0172396516
D3 EUR 17.76 0.00 0.00 22-Jul-2024 18.11 16.76 LU0827877555
A1 USD 19.21 0.00 0.00 22-Jul-2024 19.98 17.49 LU0171278889
A2 Hedged JPY 880.00 0.00 0.00 22-Jul-2024 910.00 848.00 LU1668663914
A2 EUR 26.79 0.00 0.00 22-Jul-2024 27.03 24.96 LU0050372472
A2 USD 29.15 0.00 0.00 22-Jul-2024 30.01 26.17 LU0171279184
D4 EUR 10.70 0.00 0.00 22-Jul-2024 10.78 9.94 LU0938162699
D4 Hedged GBP 10.19 0.00 0.00 22-Jul-2024 10.22 9.38 LU1376384365
A1 EUR 17.65 0.00 0.00 22-Jul-2024 17.99 16.68 LU0118259232
D4 GBP 20.48 0.00 0.00 22-Jul-2024 21.29 19.55 LU0827877712
A2 CZK 676.68 0.54 0.08 22-Jul-2024 680.14 608.24 LU1791174284
D2 EUR 28.47 0.00 0.00 22-Jul-2024 28.67 26.45 LU0297941469

Portfolio Managers

Portfolio Managers

Ronald van Loon
Ronald van Loon
Giulia Artolli
Giulia Artolli
Georgie Merson
Georgie Merson

Documents

Documents