Equity

BGF World Mining Fund

  • NAV as of 26/May/2023 EUR 4.96
    52 WK: 4.21 - 6.12
  • 1 Day NAV Change as of 26/May/2023 0.04 (0.81%)

Overview

Investment Approach


The Fund aims to maximise the return on your investment through a combination of capital growth and income on the Fund’s assets.

The Fund invests globally at least 70% of its total assets in the equity securities (e.g. shares) of companies the main business of which is the mining and/or production of base and precious metals and/or minerals.

The Fund does not hold physical gold or metal.

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund invests in a limited number of market sectors. Compared to investments which spread investment risk through investing in a variety of sectors, share price movements may have a greater effect on the overall value of this fund. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares. Compared to more established economies, the value of investments in developing Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability. The fund can invest in mining shares which typically experience above average volatility when compared to other investments. Trends which occur within the general equity market may not be mirrored within mining securities. Optional - The Fund does not hold physical gold or other commodities.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

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Share Class performance displayed in EUR and Benchmark performance displayed in USD. Source: BlackRock. Performance is shown on a net asset value basis, with gross income reinvested. Past performance is not a guide to future performance.

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -24.2 -22.7 -42.4 51.5 29.0 -19.4 16.7 30.8 15.5 -2.4
Constraint Benchmark 1 (%) -25.1 -16.8 -41.1 66.9 31.2 -13.6 28.0 34.0 14.1 -1.0
  1y 3y 5y 10y Incept.
Total Return (%) -12.58 19.82 7.25 1.68 -3.96
Constraint Benchmark 1 (%) -4.07 21.68 12.09 5.80 0.36
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -0.37 -2.19 -9.63 15.80 -12.58 72.03 41.91 18.10 -46.50
Constraint Benchmark 1 (%) 3.90 -1.17 -7.57 24.68 -4.07 80.14 76.95 75.66 5.78
  From
31-Mar-2018
To
31-Mar-2019		 From
31-Mar-2019
To
31-Mar-2020		 From
31-Mar-2020
To
31-Mar-2021		 From
31-Mar-2021
To
31-Mar-2022		 From
31-Mar-2022
To
31-Mar-2023
Total Return (%)

as of 31/Mar/2023

-3.02 -28.61 103.17 31.05 -18.48
Constraint Benchmark 1 (%)

as of 31/Mar/2023

2.67 -20.76 103.79 25.65 -12.25

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 EUR 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 26/May/2023 USD 5,362,344,273
Share Class launch date 31/Oct/2007
Fund Launch Date 21/Mar/1997
Share Class Currency EUR
Fund Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI ACWI Metals & Mining 30% Buffer 10/40 Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.32%
Annual Management Fee 1.00%
Performance Fee 0.00%
Minimum Initial Investment EUR 100,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MIGWMGD
ISIN LU0326425278
SEDOL B43DST8

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28/Apr/2023 56
Standard Deviation (3y) as of 30/Apr/2023 28.36%
3y Beta as of 30/Apr/2023 0.992
P/E Ratio as of 28/Apr/2023 7.41
P/B Ratio as of 28/Apr/2023 1.81

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 19/May/2023 A
MSCI ESG % Coverage as of 19/May/2023 96.21
MSCI ESG Quality Score (0-10) as of 19/May/2023 6.31
MSCI ESG Quality Score - Peer Percentile as of 19/May/2023 55.93
Fund Lipper Global Classification as of 19/May/2023 Equity Sector Materials
Funds in Peer Group as of 19/May/2023 118
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 19/May/2023 403.84
MSCI Weighted Average Carbon Intensity % Coverage as of 19/May/2023 95.78
All data is from MSCI ESG Fund Ratings as of 19/May/2023, based on holdings as of 31/Dec/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% (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/Apr/2023 0.00%
MSCI - UN Global Compact Violators as of 28/Apr/2023 24.91%
MSCI - Nuclear Weapons as of 28/Apr/2023 0.00%
MSCI - Thermal Coal as of 28/Apr/2023 8.02%
MSCI - Civilian Firearms as of 28/Apr/2023 0.00%
MSCI - Oil Sands as of 28/Apr/2023 6.18%
MSCI - Tobacco as of 28/Apr/2023 0.00%
Business Involvement Coverage as of 28/Apr/2023 97.29%
Percentage of Fund not covered as of 28/Apr/2023 2.66%
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 22.62% and for Oil Sands 9.73%.

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 considers ESG criteria in combination with other information during the idea generation, company research, portfolio construction and ongoing monitoring phases of the investment process. ESG information may be sourced from third-party vendors, as well as internal engagement commentary and site visits and input from BlackRock Investment Stewardship. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 28/Apr/2023
Name Weight (%)
BHP GROUP LTD 8.03
GLENCORE PLC 7.72
VALE SA 6.91
TECK RESOURCES LTD 6.19
NEWMONT CORPORATION 4.45
Name Weight (%)
WHEATON PRECIOUS METALS CORP 4.21
FREEPORT-MCMORAN INC 4.13
RIO TINTO PLC 3.60
FRANCO-NEVADA CORP 3.56
FIRST QUANTUM MINERALS LTD 3.35
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28/Apr/2023

% of Market Value

Type Fund Benchmark Net
as of 28/Apr/2023

% of Market Value

Type Fund Benchmark Net
Sorry, geographic exposures are not available at this time.
as of 28/Apr/2023

% of Market Value

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.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class D2 Hedged EUR None 4.96 0.04 0.81 26/May/2023 6.12 4.21 LU0326425278 -
Class A4 EUR Annual 50.39 0.35 0.70 26/May/2023 61.97 45.60 LU0408222593 -
Class I2 Hedged EUR None 5.15 0.05 0.98 26/May/2023 6.34 4.36 LU0368236740 -
Class I4 GBP Annual 10.30 0.07 0.68 26/May/2023 12.39 9.71 LU2527846328 -
Class A4 GBP Annual 42.56 0.28 0.66 26/May/2023 51.43 37.69 LU0204068877 -
Class A2 Hedged PLN None 8.63 0.07 0.82 26/May/2023 10.41 7.05 LU0480534758 -
Class I2 GBP - 54.87 0.36 0.66 26/May/2023 66.04 51.76 LU2527846245 -
Class A2 EUR None 55.37 0.38 0.69 26/May/2023 66.05 48.53 LU0172157280 -
Class A2 Hedged AUD None 10.87 0.09 0.83 26/May/2023 13.49 9.25 LU1023059493 -
Class D4 GBP Annual 42.90 0.28 0.66 26/May/2023 51.93 38.08 LU0827889725 -
Class D2 Hedged SGD None 8.17 0.07 0.86 26/May/2023 9.94 6.80 LU0827890228 -
Class D2 Hedged GBP None 33.91 0.28 0.83 26/May/2023 41.67 28.58 LU0827890145 -
Class D2 Hedged CHF None 7.91 0.06 0.76 26/May/2023 9.74 6.74 LU0827889998 -
Class D2 USD None 67.61 0.54 0.81 26/May/2023 81.51 55.25 LU0252968341 -
Class A2 USD None 59.38 0.47 0.80 26/May/2023 71.77 48.84 LU0075056555 -
Class D2 Hedged PLN None 9.34 0.08 0.86 26/May/2023 11.24 7.58 LU0827890061 -
Class A2 Hedged SGD None 5.20 0.04 0.78 26/May/2023 6.34 4.36 LU0330918003 -
Class I2 EUR None 63.19 0.43 0.69 26/May/2023 75.14 54.90 LU0368236583 -
Class A2 Hedged CHF None 7.29 0.06 0.83 26/May/2023 9.05 6.26 LU0521028554 -
Class D2 EUR None 63.04 0.44 0.70 26/May/2023 75.02 54.89 LU0252963383 -
Class A2 Hedged EUR None 4.43 0.04 0.91 26/May/2023 5.51 3.78 LU0326424115 -
Class A2 Hedged HKD None 10.23 0.08 0.79 26/May/2023 12.46 8.51 LU0788109121 -
Class I2 USD None 67.77 0.54 0.80 26/May/2023 81.64 55.26 LU0368260294 -
Class A10 USD Monthly 10.35 0.08 0.78 26/May/2023 12.79 9.66 LU2533724279 -

Portfolio Managers

Portfolio Managers

Evy Hambro
Evy Hambro
Olivia Markham
Olivia Markham

Literature

Literature