Equity

BGF European 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 value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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 product's performance as the percentage loss or gain per year over the last 10 years.

  2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Return (%) 13.3 -3.4 9.7 -12.5 34.7 18.4 29.5 -23.9 20.0 7.9
Constraint Benchmark 1 (%) 8.2 2.6 10.2 -10.6 26.0 -3.3 25.1 -9.5 15.8 8.6

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

  1y 3y 5y 10y Incept.
-1.93 12.34 9.75 6.43 7.35
Constraint Benchmark 1 (%) 8.08 12.77 11.39 6.22 6.94
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
2.43 -0.13 5.52 2.43 -1.93 41.79 59.26 86.49 123.60
Constraint Benchmark 1 (%) 8.55 -1.30 2.49 8.55 8.08 43.41 71.49 82.90 114.17
  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
From
30-Jun-2024
To
30-Jun-2025
Total Return (%)

as of 30/Jun/2025

42.81 -21.35 26.44 14.34 -1.93
Constraint Benchmark 1 (%)

as of 30/Jun/2025

27.94 -6.54 16.72 13.68 8.08

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 NZD, hedged share class benchmark performance is displayed in EUR.

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 17/Jul/2025
EUR 1,340,456,251
Fund Launch Date
30/Nov/1993
Fund Base Currency
EUR
Constraint Benchmark 1
MSCI Europe Net TR in EUR
SDR classification
ESG Overseas
Ongoing Charges Figures
1.81%
ISIN
LU1023060319
Minimum Initial Investment
GBP 5,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Other Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
BJMZFC2
Share Class launch date
26/Feb/2014
Share Class Currency
NZD
Asset Class
Equity
SFDR Classification
Article 8
Initial Charge
5.00%
Management Fee
1.50%
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGEUA2N

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Jun/2025
42
3y Beta
as of 30/Jun/2025
1.213
P/B Ratio
as of 30/Jun/2025
3.39
Standard Deviation (3y)
as of 30/Jun/2025
16.97%
P/E Ratio
as of 30/Jun/2025
22.10

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

4 stars
Overall Morningstar Rating for BGF European Fund, Class A2 Hedged, as of 31/Jul/2018 rated against 228 Other Equity Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - Silver
Morningstar has awarded the Fund a Silver medal. (Effective 06/Jul/2015)
Analyst-Driven % as of -
-
Data Coverage % as of -
-

Holdings

Holdings

as of 30/Jun/2025
Name Weight (%)
MTU AERO ENGINES AG 4.87
SAP SE 4.36
RELX PLC 3.95
ZURICH INSURANCE GROUP AG 3.90
SAFRAN SA 3.76
Name Weight (%)
UNICREDIT SPA 3.70
SCHNEIDER ELECTRIC SE 3.62
LINDE PLC 3.59
NATWEST GROUP PLC 3.21
COMPAGNIE FINANCIERE RICHEMONT SA 3.06
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Jun/2025

% of Market Value

Type Fund Benchmark Net
as of 30/Jun/2025

% of Market Value

Type Fund Benchmark Net
as of 30/Jun/2025

% 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 A2 Hedged NZD 22.57 0.17 0.76 17/Jul/2025 23.83 18.74 LU1023060319
Class A2 Hedged HKD 30.77 0.23 0.75 17/Jul/2025 32.25 25.42 LU0788108743
Class A2 Hedged GBP 20.18 0.16 0.80 17/Jul/2025 21.04 16.65 LU1023060665
Class D2 USD 262.11 2.27 0.87 17/Jul/2025 265.77 204.69 LU0411709727
Class A2 EUR 195.41 1.49 0.77 17/Jul/2025 204.74 161.91 LU0011846440
Class A4 GBP 157.67 1.15 0.73 17/Jul/2025 158.41 129.16 LU0204061864
Class D4 EUR 187.66 1.44 0.77 17/Jul/2025 196.01 155.16 LU1852330817
Class A2 Hedged CAD 21.07 0.16 0.77 17/Jul/2025 22.11 17.43 LU1023060079
Class A2 Hedged CNH 193.53 1.47 0.77 17/Jul/2025 204.37 160.58 LU1210724834
Class A2 Hedged AUD 21.13 0.17 0.81 17/Jul/2025 22.30 17.50 LU1023059733
Class D2 Hedged USD 32.07 0.25 0.79 17/Jul/2025 33.27 26.27 LU0827890574
Class D2 EUR 226.24 1.73 0.77 17/Jul/2025 236.31 187.06 LU0252966055
Class I2 EUR 230.21 1.77 0.77 17/Jul/2025 240.20 190.21 LU0368230461
Class A4 EUR 181.50 1.39 0.77 17/Jul/2025 190.16 150.38 LU0408221439
Class D4 GBP 162.26 1.19 0.74 17/Jul/2025 162.73 132.65 LU0827879098
Class I2 USD 266.71 2.31 0.87 17/Jul/2025 270.42 208.13 LU2728923934
Class A2 Hedged SGD 23.29 0.17 0.74 17/Jul/2025 24.55 19.31 LU0963555726
Class A2 Hedged USD 33.07 0.25 0.76 17/Jul/2025 34.42 27.15 LU0526926950
Class A2 USD 226.40 1.96 0.87 17/Jul/2025 229.60 177.17 LU0171280430
Class I2 Hedged USD 25.91 0.20 0.78 17/Jul/2025 26.85 21.21 LU1438596576

Portfolio Managers

Portfolio Managers

Stefan Gries
Managing Director

Managing Director and Portfolio Manager, is Head of the European Equity team within BlackRock’s Fundamental Equity Group.

Tom Joy
Tom Joy

Literature

Literature