Real Estate

BGF World Real Estate Securities 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

Ex-Date Distribution
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  1y 3y 5y 10y Incept.
-0.81 -1.56 0.54 - 2.06
-5.77 -3.23 -0.48 - 1.35
Benchmark (%) -3.41 0.08 -0.11 - 1.67
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-4.15 -4.15 17.44 1.19 -0.81 -4.62 2.74 - 16.05
-8.94 -8.94 11.57 -3.87 -5.77 -9.39 -2.39 - 10.24
Benchmark (%) -4.02 -4.02 16.23 0.42 -3.41 0.24 -0.55 - 12.82
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 USD, 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 23-Feb-2024 USD 136,226,090
Share Class Inception Date 19-Oct-2016
Fund Inception 25-Feb-2013
Share Class Currency USD
Fund Base Currency USD
Asset Class Real Estate
Benchmark FTSE EPRA/NAREIT Developed Index (Net)
SFDR Classification Other
Initial Charge 5.00%
ISIN LU1499592464
Management Fee (incl. Distribution Fee, if any) 1.50%
Performance Fee 0.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment -
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Property - Indirect Global
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGREA6U
SEDOL BD60FC1
MAS ESG Fund No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Jan-2024 61
Standard Deviation (3y) as of 31-Jan-2024 20.10%
3y Beta as of 31-Jan-2024 0.989
P/CF Ratio as of 31-Jan-2024 15.43
P/B Ratio as of 31-Jan-2024 1.35
5Y Annualised Volatility as of 31-Jan-2024 20.33
Since Share Inception – Annualised Volatility as of 31-Jan-2024 17.96

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-Feb-2024 A
MSCI ESG % Coverage as of 21-Feb-2024 97.32
MSCI ESG Quality Score (0-10) as of 21-Feb-2024 6.09
MSCI ESG Quality Score - Peer Percentile as of 21-Feb-2024 49.03
Fund Lipper Global Classification as of 21-Feb-2024 Equity Sector Real Est Global
Funds in Peer Group as of 21-Feb-2024 359
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Feb-2024 86.37
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Feb-2024 97.54
All data is from MSCI ESG Fund Ratings as of 21-Feb-2024, based on holdings as of 30-Sept-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 31-Jan-2024 0.00%
MSCI - UN Global Compact Violators as of 31-Jan-2024 0.00%
MSCI - Nuclear Weapons as of 31-Jan-2024 0.00%
MSCI - Thermal Coal as of 31-Jan-2024 0.00%
MSCI - Civilian Firearms as of 31-Jan-2024 0.00%
MSCI - Oil Sands as of 31-Jan-2024 0.00%
MSCI - Tobacco as of 31-Jan-2024 0.00%

Business Involvement Coverage as of 31-Jan-2024 100.02%
Percentage of Fund not covered as of 31-Jan-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 0.00% 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 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 the initial screening, sourcing and due diligence phases of the investment process. This may include the use of internal ESG due diligence templates to identify, analyze and document key ESG risks, and the use of thematic environmental, social and governance information sourced from both primary sources and third-party data providers, where available. Where appropriate, identified material ESG risks are included in Investment Committee materials and discussed at relevant Investment Committee meetings. This information may broadly inform investment decisions: ESG criteria are considered in combination with other information. The Fund manager also considers environmental, social and governance criteria during post-investment monitoring and conducts regular portfolio risk reviews between the investment team and BlackRock’s Risk and Quantitative Analysis group. These reviews include the analysis and discussion of portfolio exposure to material ESG risks, where appropriate.

Holdings

Holdings

as of 31-Jan-2024
Name Weight (%)
PROLOGIS REIT INC 5.88
EQUINIX REIT INC 5.44
EXTRA SPACE STORAGE REIT INC 4.31
WELLTOWER INC 3.92
DIGITAL REALTY TRUST REIT INC 3.21
Name Weight (%)
VICI PPTYS INC 3.16
AVALONBAY COMMUNITIES REIT INC 3.06
AGREE REALTY REIT CORP 2.69
LINK REAL ESTATE INVESTMENT TRUST 2.64
REGENCY CENTERS REIT CORP 2.48

Exposure Breakdowns

Exposure Breakdowns

as of 31-Jan-2024

% of Weight

Type Fund Benchmark Net
as of 31-Jan-2024

% of Weight

Type Fund Benchmark Net
as of 31-Jan-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 31-Jan-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
A6 USD 9.24 -0.02 -0.22 23-Feb-2024 9.77 7.92 LU1499592464
A2 USD 14.68 -0.04 -0.27 23-Feb-2024 15.43 12.44 LU0842063009
D2 USD 12.34 -0.04 -0.32 23-Feb-2024 12.96 10.44 LU0842063264
D6 USD 9.55 -0.03 -0.31 23-Feb-2024 10.08 8.16 LU2521848999
A8 Hedged CNH 91.89 -0.27 -0.29 23-Feb-2024 97.11 78.87 LU1499592621
A6 Hedged SGD 9.40 -0.02 -0.21 23-Feb-2024 9.96 8.11 LU2190626643
A6 Hedged HKD 95.85 -0.26 -0.27 23-Feb-2024 101.44 82.32 LU2190626999
Class A10 USD 10.18 -0.03 -0.29 23-Feb-2024 10.83 8.85 LU2533724196
D2 Hedged CHF 9.60 -0.03 -0.31 23-Feb-2024 10.14 8.25 LU1791183350

Ratings

Ratings

Morningstar Rating

3 stars
As of 31-Jan-2024

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Effective 31-Dec-2023

Portfolio Managers

Portfolio Managers

Mark Howard-Johnson
Mark Howard-Johnson
Alastair Gillespie
Alastair Gillespie
Raj Rehan
Raj Rehan
James Wilkinson
James Wilkinson

Documents

Documents