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Equity

BGF European Special Situations 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. 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. 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 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 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 may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of 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

20.74 1.95 19.67 5.55 11.37
Benchmark (%) Index: MSCI Europe Net TR in EUR<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 30-Sep-19

2.61 1.80 16.26 1.47 5.74

The figures shown relate to past performance. Past performance is not a reliable indicator of current or 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 Share Class Benchmark performance is displayed in EUR.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realize returns that are different to the NAV performance.

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 22-Oct-19 EUR 1,216.744
Base Currency Euro
Fund Launch Date 14-Oct-02
Share Class launch date 18-Jun-14
Asset Class Equity
Morningstar Category Other Equity
Benchmark Index MSCI Europe Net TR in EUR
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU1078072763
Bloomberg Ticker BESD2UH
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BNCBRB1
Bloomberg Benchmark Ticker M7EU
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 100000
Minimum Subsequent Investment USD 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

Holdings

Holdings

as of 30-Sep-19
Name Weight (%)
SAP SE 4.39
ASML HOLDING NV 4.28
SAFRAN SA 3.64
NOVO NORDISK A/S 3.42
LVMH MOET HENNESSY LOUIS VUITTON SE 3.05
Name Weight (%)
LONDON STOCK EXCHANGE GROUP PLC 2.94
UNILEVER PLC 2.90
DSV A/S 2.89
FERRARI NV 2.85
VINCI SA 2.65
Holdings 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 D2 Hedged USD None 17.09 0.09 0.53 17.10 12.64 - LU1078072763 - -
Class A2 USD None 51.83 0.14 0.27 52.42 40.56 - LU0171276677 - -
Class A2 EUR None 46.55 0.22 0.47 46.81 35.49 - LU0154234636 - -
Class A2 Hedged GBP None 15.52 0.07 0.45 15.60 11.79 - LU1023063255 - -
Class A2 Hedged CNH None 373.64 1.84 0.49 374.34 278.76 - LU1244156169 - -
Class A2 Hedged AUD None 17.11 0.08 0.47 17.19 12.86 - LU1023062109 - -
Class A2 Hedged HKD None 119.10 0.58 0.49 119.40 89.20 - LU1355424745 - -
Class I2 EUR None 13.86 0.07 0.51 13.92 10.48 - LU0369584999 - -
Class A2 Hedged CAD None 16.24 0.08 0.50 16.29 12.19 - LU1023062521 - -
Class D2 EUR None 51.60 0.24 0.47 51.84 39.10 - LU0252965834 - -
Class A2 Hedged USD None 18.17 0.09 0.50 18.21 13.53 - LU0969580561 - -
Class D2 USD None 57.45 0.15 0.26 57.98 44.68 - LU0827879171 - -

Portfolio Managers

Portfolio Managers

Michael Constantis
Michael Constantis

Literature

Literature