Fixed Income

BGF Emerging Markets Bond Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

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. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The fund may make distributions from capital as well as income or pursue certain investment strategies in order to generate income. Whilst this might allow more income to be distributed, it may also have the effect of reducing capital and the potential for long-term capital growth. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held.

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

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Performance

Performance

  • Returns

  From
31-Dec-2013
To
31-Dec-2014
From
31-Dec-2014
To
31-Dec-2015
From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of 31-Dec-18

5.74 -1.65 12.52 7.27 -7.08
Benchmark (%) Index: JP Morgan EMBI Global Diversified Index<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

as of 31-Dec-18

7.43 1.18 10.15 10.26 -4.26

The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in USD, hedged fund 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

Chart

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
View full table

Key Facts

Key Facts

Size of Fund (Millions) as of 18-Feb-19 USD 2,593.000
Base Currency U.S. Dollar
Fund Launch Date 01-Oct-04
Share Class launch date 02-Apr-12
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Bond
Benchmark Index JP Morgan EMBI Global Diversified Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU0764617162
Bloomberg Ticker BGEMA6U
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B75JT47
Bloomberg Benchmark Ticker JPGCCOMP
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Modified Duration as of 31-Jan-19 6.89
3y Volatility - Benchmark as of 31-Jan-19 5.98
5y Volatility - Benchmark as of 31-Jan-19 5.62
5y Beta as of 31-Jan-19 1.019

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for BGF Emerging Markets Bond Fund, Class A6, as of 31-Jan-19 rated against 881 Global Emerging Markets Bond Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 09-Oct-18)

Holdings

Holdings

as of 31-Jan-19
Name Weight (%)
UKRAINE REPUBLIC OF (GOVERNMENT) RegS 7.375 09/25/2032 1.52
PETROLEOS DE VENEZUELA SA RegS 0 05/17/2035 1.44
PETROLEOS DE VENEZUELA SA RegS 0 05/16/2024 1.22
ECUADOR (REPUBLIC OF) RegS 7.95 06/20/2024 1.22
OMAN SULTANATE OF (GOVERNMENT) RegS 6.5 03/08/2047 1.10
Name Weight (%)
ECUADOR REPUBLIC OF (GOVERNMENT) RegS 8.875 10/23/2027 1.07
OMAN SULTANATE OF (GOVERNMENT) RegS 6.75 01/17/2048 1.03
RUSSIAN FEDERATION RegS 5.25 06/23/2047 0.99
SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 3.25 04/28/2025 0.98
EGYPT (ARAB REPUBLIC OF) MTN RegS 7.903 02/21/2048 0.88
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class A6 USD Monthly 8.73 -0.03 -0.34 9.27 8.22 - LU0764617162 - -
Class D3 USD Monthly 9.93 -0.03 -0.30 10.29 9.33 - LU0827876821 - -
Class A1 USD Daily 9.57 -0.03 -0.31 9.92 8.98 - LU0200680436 - -
Class D2 EUR None 16.98 -0.14 -0.82 17.12 15.26 - LU0827877043 - -
Class A2 EUR None 15.85 -0.13 -0.81 15.98 14.32 - LU0200683885 - -
Class A3 EUR Monthly 8.75 -0.07 -0.79 8.82 8.15 - LU0200684008 - -
Class I2 Hedged CHF None 9.58 -0.03 -0.31 9.87 8.97 - LU1618350562 - -
Class A6 Hedged HKD Monthly 65.34 -0.22 -0.34 70.24 61.70 - LU0764619960 - -
Class A8 Hedged CNH - 104.93 -0.35 -0.33 105.79 99.67 - LU1919856051 - -
Class I2 Hedged GBP - 9.87 -0.03 -0.30 10.00 9.21 - LU1806518533 - -
Class D2 USD None 19.23 -0.06 -0.31 19.37 17.85 - LU0297941386 - -
Class A2 CZK None 407.81 -2.63 -0.64 411.78 365.67 - LU1791181735 - -
Class I5 Hedged EUR Quarterly 9.55 -0.03 -0.31 10.22 9.04 - LU1323999216 - -
Class I2 EUR None 15.29 -0.12 -0.78 15.41 13.72 - LU1048586868 - -
Class I4 USD - 9.92 -0.03 -0.30 10.00 9.21 - LU1806518293 - -
Class A2 Hedged EUR None 16.24 -0.06 -0.37 16.80 15.21 - LU0413376566 - -
Class A6 Hedged GBP Monthly 9.19 -0.03 -0.33 9.96 8.70 - LU1408527916 - -
Class A8 Hedged AUD Monthly 8.57 -0.03 -0.35 9.16 8.09 - LU0871639893 - -
Class I2 Hedged EUR None 11.43 -0.04 -0.35 11.74 10.69 - LU1057294727 - -
Class A8 Hedged ZAR Monthly 94.10 -0.31 -0.33 101.01 88.89 - LU1109561420 - -
Class A4 EUR Annual 12.12 -0.10 -0.82 12.22 11.17 - LU1072326561 - -
Class A3 USD Monthly 9.91 -0.03 -0.30 10.27 9.31 - LU0200680782 - -
Class A1 EUR Daily 8.45 -0.07 -0.82 8.52 7.87 - LU0200683703 - -
Class A2 USD None 17.94 -0.06 -0.33 18.08 16.68 - LU0200680600 - -
Class D2 Hedged EUR None 16.86 -0.06 -0.35 17.35 15.77 - LU0827877399 - -
Class A6 Hedged CAD Monthly 9.43 -0.04 -0.42 10.12 8.90 - LU1408528054 - -
Class D3 EUR Monthly 8.77 -0.07 -0.79 8.84 8.17 - LU0827877126 - -
Class I2 USD None 17.31 -0.06 -0.35 17.44 16.06 - LU1180455567 - -
Class A8 Hedged NZD Monthly 9.48 -0.03 -0.32 10.18 8.96 - LU1408528138 - -
Class A2 Hedged GBP None 11.44 -0.04 -0.35 11.72 10.68 - LU1057296771 - -

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Sergio Trigo Paz
Michel Aubenas
Michel Aubenas

Literature

Literature