Fixed Income

BGF Emerging Markets Local Currency 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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Reinvestments

 
  1y 3y 5y 10y Incept.
9.22 -3.48 -1.14 - -3.42
12.67 -1.14 1.39 -0.54 0.46
3.76 -5.12 -2.15 - -4.24
7.03 -2.81 0.35 -1.05 0.15
Benchmark (%) 11.56 -3.07 0.77 - -0.16
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
8.10 6.46 1.50 4.67 9.22 -10.08 -5.59 - -18.89
11.14 6.79 2.19 6.26 12.67 -3.38 7.13 -5.30 8.00
2.70 1.13 -3.57 -0.56 3.76 -14.57 -10.31 - -22.95
5.58 1.45 -2.92 0.95 7.03 -8.21 1.77 -10.04 2.60
Benchmark (%) 9.20 5.27 1.19 4.61 11.56 -8.94 3.89 - -0.95
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 SEK 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 08-Dec-2023 USD 1,606,705,287
Share Class Inception Date 22-Nov-2017
Fund Inception 26-Jun-1997
Share Class Currency SEK
Fund Base Currency USD
Asset Class Fixed Income
Benchmark JP Morgan GBI-EM Global Diversified Index
SFDR Classification Other
Initial Charge 5.00%
ISIN LU1715605868
Management Fee (incl. Distribution Fee, if any) 1.00%
Performance Fee 0.00%
Minimum Initial Investment SEK 5000
Minimum Subsequent Investment SEK 1000
Use of Income Accumulating
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 BGLCA2H
SEDOL BDR73D8
MAS ESG Fund No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30-Nov-2023 427
Standard Deviation (3y) as of 30-Nov-2023 11.79%
3y Beta as of 30-Nov-2023 1.058
Yield to Maturity as of 30-Nov-2023 7.60
Modified Duration as of 30-Nov-2023 5.78
Effective Duration as of 30-Nov-2023 5.80yrs
Weighted Avg Maturity as of 30-Nov-2023 7.47
WAL to Worst as of 30-Nov-2023 7.47
5Y Annualised Volatility as of 30-Nov-2023 13.14
Since Share Inception – Annualised Volatility as of 30-Nov-2023 13.43

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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.

Holdings

Holdings

as of 30-Nov-2023
Name Weight (%)
PERU (REPUBLIC OF) 6.95 08/12/2031 2.39
BRAZIL FEDERATIVE REPUBLIC OF (GOV 10 01/01/2029 2.24
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 2.05
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2026 1.94
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 1.73
Name Weight (%)
MEXICO (UNITED MEXICAN STATES) (GO 7.75 05/29/2031 1.65
MEXICO (UNITED MEXICAN STATES) 7.5 06/03/2027 1.64
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 1.64
BRAZIL FEDERATIVE REPUBLIC OF (GOV 10 01/01/2031 1.62
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.60

Exposure Breakdowns

Exposure Breakdowns

as of 30-Nov-2023

% of Weight

Type Fund Benchmark Net
as of 30-Nov-2023

% of Weight

Type Fund Benchmark Net
as of 30-Nov-2023

% 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 30-Nov-2023

% of Weight

Type Fund Benchmark Net
as of 30-Nov-2023

% 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 SEK 81.21 -0.19 -0.23 08-Dec-2023 83.27 74.28 LU1715605868
A2 CHF 20.91 -0.02 -0.10 08-Dec-2023 21.05 19.52 LU0938162186
D3 Hedged GBP 5.21 -0.01 -0.19 08-Dec-2023 5.45 4.80 LU0995345831
A2 EUR 22.12 -0.01 -0.05 08-Dec-2023 22.13 19.96 LU0278457204
A6 Hedged SGD 5.67 -0.01 -0.18 08-Dec-2023 5.97 5.24 LU1676225185
A2 Hedged EUR 6.83 -0.02 -0.29 08-Dec-2023 7.00 6.25 LU0359002093
A4 USD 12.53 -0.03 -0.24 08-Dec-2023 13.45 11.41 LU0548402170
D2 USD 25.79 -0.05 -0.19 08-Dec-2023 26.10 22.80 LU0383940458
A4 EUR 11.65 -0.01 -0.09 08-Dec-2023 12.19 10.85 LU0478974834
A1 EUR 2.89 0.00 0.00 08-Dec-2023 2.92 2.71 LU0278461065
A3 HKD 24.41 -0.06 -0.25 08-Dec-2023 25.42 22.51 LU0388349754
D2 Hedged CHF 8.02 -0.01 -0.12 08-Dec-2023 8.26 7.35 LU1688375184
A2 Hedged SGD 7.99 -0.02 -0.25 08-Dec-2023 8.17 7.22 LU0358998713
A8 Hedged AUD 5.10 -0.01 -0.20 08-Dec-2023 5.33 4.70 LU1133072774
A2 USD 23.79 -0.05 -0.21 08-Dec-2023 24.13 21.14 LU0278470058
A3 USD 3.13 0.00 0.00 08-Dec-2023 3.26 2.87 LU0278470132
D2 Hedged EUR 7.13 -0.02 -0.28 08-Dec-2023 7.28 6.48 LU0622213642
D2 CHF 22.66 -0.03 -0.13 08-Dec-2023 22.81 21.14 LU1065150267
A3 EUR 2.91 0.00 0.00 08-Dec-2023 2.95 2.73 LU0278457469
A1 USD 3.10 -0.01 -0.32 08-Dec-2023 3.22 2.86 LU0278477574
D5 GBP 7.36 0.00 0.00 08-Dec-2023 7.54 6.90 LU1694209807
D3 Hedged AUD 4.90 -0.01 -0.20 08-Dec-2023 5.14 4.52 LU0827884841
A8 Hedged NZD 6.42 -0.02 -0.31 08-Dec-2023 6.71 5.92 LU1408528724
D2 Hedged SGD 8.45 -0.02 -0.24 08-Dec-2023 8.63 7.61 LU0827884767
A6 USD 6.45 -0.02 -0.31 08-Dec-2023 6.74 5.95 LU1408528211
D4 USD 12.56 -0.02 -0.16 08-Dec-2023 13.51 11.42 LU0827885228
D4 EUR 11.67 -0.01 -0.09 08-Dec-2023 12.25 10.87 LU0827885145
D2 Hedged GBP 13.89 -0.03 -0.22 08-Dec-2023 14.11 12.45 LU0827885491
A2 Hedged PLN 9.80 -0.02 -0.20 08-Dec-2023 9.95 8.64 LU0480535052
D2 EUR 23.98 -0.01 -0.04 08-Dec-2023 23.99 21.53 LU0329592702
D2 Hedged PLN 10.36 -0.03 -0.29 08-Dec-2023 10.50 9.09 LU0827884684
A6 Hedged CAD 6.19 -0.01 -0.16 08-Dec-2023 6.49 5.71 LU1408528641
A6 Hedged GBP 5.71 -0.01 -0.17 08-Dec-2023 5.98 5.27 LU1408528302
A2 Hedged CHF 6.56 -0.02 -0.30 08-Dec-2023 6.77 6.02 LU0623004180
A2 CZK 539.20 1.01 0.19 08-Dec-2023 539.20 471.20 LU1791177113
A3 Hedged AUD 4.90 -0.01 -0.20 08-Dec-2023 5.15 4.52 LU0575500318
D3 EUR 12.02 0.00 0.00 08-Dec-2023 12.21 11.31 LU0827884924
A6 Hedged HKD 62.68 -0.15 -0.24 08-Dec-2023 65.68 57.86 LU1408528484
D3 HKD 100.97 -0.25 -0.25 08-Dec-2023 105.15 93.09 LU0827885061
D3 USD 12.93 -0.02 -0.15 08-Dec-2023 13.47 11.89 LU0523291242

Ratings

Portfolio Managers

Portfolio Managers

Laurent Develay
Laurent Develay
Amer Bisat
Amer Bisat
Laurent Develay
Laurent Develay
Michal Wozniak
Michal Wozniak

Documents

Documents