Equity

BGF Emerging Markets Fund

Overview

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. 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.

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

Chart

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This chart shows the fund's performance as the percentage loss or gain per year over the last 2 years.

  2019 2020 2021 2022 2023
Total Return (%) -27.3 9.6
Constraint Benchmark 1 (%) -20.1 9.8

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
4.81 - - - -8.86
Constraint Benchmark 1 (%) 12.55 - - - -3.61
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
2.79 2.72 2.32 2.79 4.81 - - - -23.62
Constraint Benchmark 1 (%) 7.49 3.94 5.00 7.49 12.55 - - - -10.12
  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of 30/Jun/2024

- - - 5.89 4.81
Constraint Benchmark 1 (%)

as of 30/Jun/2024

- - - 1.75 12.55

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 11/Jul/2024
USD 2,569,423,735
Fund Launch Date
30/Nov/1993
Fund Base Currency
USD
Constraint Benchmark 1
MSCI Emerging Markets Index
Initial Charge
0.00%
ISIN
LU2369862763
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGEMUIU
Share Class launch date
04/Aug/2021
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Other
Ongoing Charges Figures
0.87%
Annual Management Fee
0.75%
Minimum Initial Investment
USD 10,000,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BMVC042

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28/Jun/2024
89
3y Beta
as of -
-
P/B Ratio
as of 28/Jun/2024
2.34
Standard Deviation (3y)
as of -
-
P/E Ratio
as of 28/Jun/2024
16.14

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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 08/May/2024)

Holdings

Holdings

as of 28/Jun/2024
Name Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 10.11
TENCENT HOLDINGS LTD 7.72
SAMSUNG ELECTRONICS CO LTD 5.31
SK HYNIX INC 4.22
AXIS BANK LTD 2.59
Name Weight (%)
RELIANCE INDUSTRIES LTD 2.15
MEDIATEK INC 2.07
KASPIKZ AO 2.02
INDUSIND BANK LTD 1.77
GRUPO FINANCIERO BANORTE SAB DE CV 1.76
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class I2 USD 16.04 0.19 1.20 11/Jul/2024 16.04 13.44 LU2369862763
Class A2 EUR 36.68 0.23 0.63 11/Jul/2024 36.68 31.85 LU0171275786
Class A2 USD 39.93 0.49 1.24 11/Jul/2024 39.93 33.69 LU0047713382
Class A2 Hedged EUR 8.93 0.11 1.25 11/Jul/2024 8.93 7.64 LU2087590274
Class D2 USD 45.81 0.56 1.24 11/Jul/2024 45.81 38.45 LU0252970164
Class A4 USD 10.22 0.12 1.19 11/Jul/2024 10.22 8.62 LU2125290366
Class I5 USD 11.66 0.14 1.22 11/Jul/2024 11.66 9.89 LU1866970491
Class D2 EUR 42.08 0.26 0.62 11/Jul/2024 42.08 36.35 LU0252967376
Class A4 EUR 9.39 0.06 0.64 11/Jul/2024 9.39 8.15 LU2344713842
Class A2 CZK 930.72 4.70 0.51 11/Jul/2024 930.72 781.13 LU1791183517
Class I4 EUR 10.67 0.07 0.66 11/Jul/2024 10.67 9.20 LU2491188343
Class D2 Hedged EUR 9.24 0.12 1.32 11/Jul/2024 9.24 7.86 LU2087590357
Class I2 EUR 14.74 0.10 0.68 11/Jul/2024 14.74 12.71 LU1559747883

Portfolio Managers

Portfolio Managers

Gordon Fraser
Managing Director

Gordon Fraser, CFA, Managing Director, is a portfolio manager on the Global Emerging Markets Equities Team within the Fundamental Active Equity division.

Emily Fletcher
Emily Fletcher
Kevin Jia
Kevin Jia

Literature

Literature