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Fixed Income

BSF Emerging Markets Flexi Dynamic 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 may invest in securities whereby the issuing company has a high risk of defaulting on their interest payments, capital repayment or both. In the event of default, the value of the investment may reduce. 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. 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. Certain developing countries are especially large debtors to commercial banks and foreign governments. Investment in debt obligations (sovereign debt) issued or guaranteed by developing governments or their agencies involve a high degree of risk. The Fund utilises derivatives as part of its investment strategy. Compared to a fund which only invests in traditional instruments such as stocks and bonds, derivatives are potentially subject to a higher level of risk and volatility. The strategies utilised by the Fund involve the use of derivatives to facilitate certain investment management techniques including the establishment of both ‘long’ and ‘synthetic short’ positions and creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Fund. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund.

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
30-Sep-2014
To
30-Sep-2015
From
30-Sep-2015
To
30-Sep-2016
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of 30-Sep-19

-4.48 13.97 3.18 -10.49 -1.83
  1y 3y 5y 10y Incept.
-1.83 -3.22 -0.26 - -0.18
  YTD 1m 3m 1y 3y 5y 10y Incept.
1.27 -1.18 -6.06 -1.83 -9.34 -1.32 - -0.95

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 EUR, 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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Reinvestments

This product does not have any distributions data as of now.

Key Facts

Key Facts

Size of Fund (Millions) as of 16-Oct-19 USD 2,458.233
Base Currency U.S. Dollar
Fund Launch Date 12-Jun-13
Share Class launch date 28-May-14
Asset Class Fixed Income
Morningstar Category Global Emerging Markets Bond - EUR Biased
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU1072451542
Bloomberg Ticker BSEFA2E
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BMTRV13
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Holdings

Holdings

as of 30-Sep-19
Name Weight (%)
TREASURY NOTE 2.25 03/31/2021 6.55
ROMANIA (REPUBLIC OF) MTN RegS 4.625 04/03/2049 4.33
GABONESE REPUBLIC RegS 6.95 06/16/2025 3.61
TREASURY NOTE 2.25 02/29/2020 3.12
PETROBRAS GLOBAL FINANCE BV 6.85 06/05/2115 3.10
Name Weight (%)
EGYPT (ARAB REPUBLIC OF) MTN RegS 7.903 02/21/2048 2.79
TURKEY (REPUBLIC OF) 4.625 03/31/2025 2.72
UKRAINE REPUBLIC OF (GOVERNMENT) RegS 7.375 09/25/2032 2.05
JSC NATIONAL KAZMUNAYGAS RegS 5.75 04/19/2047 2.04
UKRAINE REPUBLIC OF (GOVERNMENT) RegS 9.75 11/01/2028 1.87
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-19

% of Market Value

Type Fund
as of 30-Sep-19

% of Market Value

Type Fund
as of 30-Sep-19

% of Market Value

Type Fund
Allocations subject to change.
as of 30-Sep-19

% of Market Value

Type Fund
as of 30-Sep-19

% of Market Value

Type Fund
as of 30-Sep-19

% of Market Value

Type Fund
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 A2 Hedged EUR None 98.69 -0.10 -0.10 107.34 96.73 - LU1072451542 - -
Class A2 Hedged SEK None 86.54 -0.09 -0.10 94.12 84.74 - LU1715606080 - -
Class D4 Hedged GBP Annual 85.84 -0.08 -0.09 93.41 85.62 - LU1093538335 - -
Class A4 Hedged GBP Annual 85.87 -0.08 -0.09 93.30 85.68 - LU1072457747 - -
Class I5 Hedged EUR - 81.06 -0.09 -0.11 89.19 80.90 - LU1781817264 - -
Class I2 USD None 113.17 -0.11 -0.10 122.14 107.00 - LU1118028742 - -
Class D2 USD None 114.42 -0.11 -0.10 123.53 108.35 - LU0949128572 - -
Class D5 Hedged EUR - 85.88 -0.09 -0.10 94.12 85.70 - LU1814255391 - -
Class I2 Hedged EUR None 91.11 -0.09 -0.10 98.91 88.55 - LU1648247721 - -
Class D4 GBP Annual 95.41 -1.74 -1.79 109.41 94.38 - LU0997362164 - -
Class I4 Hedged EUR Annual 86.12 -0.09 -0.10 94.19 85.95 - LU1418627409 - -
Class D5 EUR - 96.17 -0.60 -0.62 103.91 91.68 - LU1800013283 - -
Class A2 USD None 108.73 -0.11 -0.10 117.56 103.64 - LU0940382277 - -
Class D2 Hedged EUR None 104.90 -0.11 -0.10 113.93 102.12 - LU0949128226 - -
Class I5 EUR Quarterly 91.33 -0.57 -0.62 98.70 87.05 - LU1722863567 - -
Class D5 USD Quarterly 93.72 -0.09 -0.10 102.53 92.56 - LU1308276671 - -

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Sergio Trigo Paz
Laurent Develay
Laurent Develay
Michal Wozniak
Michal Wozniak

Literature

Literature