Equity

MCLTX

Latin America Fund

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y
-30.57 -12.20 0.60 -6.82
-31.26 -12.20 0.60 -6.82
Benchmark (%) -29.36 -11.84 2.06 -5.74
Morningstar Category Avg. (%) -30.91 -6.97 5.72 -5.67
Morningstar Ranking 22/22 19/17 19/16 14/13
Morningstar Quartile 4 4 4 3
Lipper Category Avg. (%) -24.25 -8.87 4.53 -5.21
Lipper Ranking 28/34 23/28 21/26 16/20
Lipper Quartile 4 4 4 4
  YTD 1m 3m 1y 3y 5y 10y
-38.44 -5.96 -3.92 -30.57 -32.32 3.05 -50.67
-39.06 -6.90 -4.87 -31.26 -32.32 3.05 -50.67
Benchmark (%) -36.06 -5.13 -1.28 -29.36 -31.48 10.71 -44.63
Morningstar Category Avg. (%) -36.37 -1.89 -11.73 -30.91 -19.48 32.04 -44.21
Lipper Category Avg. (%) -32.17 -5.04 -0.51 -24.25 -23.74 28.93 -39.65
  2015 2016 2017 2018 2019
Total Return (%) -31.27 23.12 26.75 -4.68 17.46
Benchmark (%) -31.04 31.04 23.74 -6.57 17.46
Morningstar Category Avg. (%) -29.95 32.05 29.90 -5.67 28.37
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Size of Class (Millions) as of Dec 03, 2020 $2.2 M
Size of Fund (Millions) as of Dec 03, 2020 $107.9 M
Share Class launch date Oct 21, 1994
Asset Class Equity
Morningstar Category Latin America Stock
Lipper Classification Latin American Funds
Benchmark Index MSCI EM Latin America
CUSIP 09250X303
Distribution Frequency Annual
Number of Holdings as of Oct 30, 2020 53
Max Offer Price as of Dec 03, 2020 $39.11
Open to New Investors Yes
Turnover Percent in the Annual Report as of Jun 30, 2020 70%

Portfolio Characteristics

Portfolio Characteristics

P/B Ratio as of Oct 30, 2020 1.73
P/E Ratio - Forward as of Oct 30, 2020 14.51
Average Market Cap (Millions) as of Oct 30, 2020 $ 20,609.7 M
Best 3-Month Return Over the Last 3 Years 3 months ending Jul 31, 2020 22.57%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -46.90%
Fund Standard Deviation (3y) as of Nov 30, 2020 32.29
Active Share as of Oct 30, 2020 45.44%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Nov 01, 2020 BBB
MSCI ESG Quality Score (0-10) as of Nov 01, 2020 4.5
MSCI ESG Quality Score - Peer Percentile as of Nov 01, 2020 67.88%
MSCI ESG % Coverage as of Nov 01, 2020 94.16%
Fund Lipper Global Classification as of Nov 01, 2020 Equity Emerging Mkts Latin Am
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Nov 01, 2020 294.73
Funds in Peer Group as of Nov 01, 2020 137
All data is from MSCI ESG Fund Ratings as of Nov 01, 2020, based on holdings as of Jan 31, 2020. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, sustainability characteristics are typically available 6 months after launch.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Oct 30, 2020 0.00%
MSCI - UN Global Compact Violators as of Oct 30, 2020 17.69%
MSCI - Nuclear Weapons as of Oct 30, 2020 0.00%
MSCI - Thermal Coal as of Oct 30, 2020 0.00%
MSCI - Civilian Firearms as of Oct 30, 2020 0.00%
MSCI - Oil Sands as of Oct 30, 2020 0.00%
MSCI - Tobacco as of Oct 30, 2020 0.00%

Business Involvement Coverage as of Oct 30, 2020 98.48%
Percentage of Fund not covered as of Oct 30, 2020 1.52%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 10.90% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

Fees

Fees

as of current prospectus
Gross Expense Ratio 2.58%
Net Expense Ratio 2.58%

Net Expense Ratio excluding Investment Related Expenses is 2.58%

  • Acquired Fund Fees and Expenses 0.00%
  • Interest expense 0.00%

Ratings

Ratings

Lipper Leader

 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Oct 31, 2020 out of 28, 12,117, 28, 6 and 28 Funds, respectively in Lipper's Latin American Funds classification.

Holdings

Holdings

as of Oct 30, 2020
Name Weight (%)
VALE SA 7.50
PETROLEO BRASILEIRO SA PETROBRAS 6.57
BANCO BRADESCO SA 5.32
B3 SA BRASIL BOLSA BALCAO 4.74
AMERICA MOVIL SAB DE CV 4.72
Name Weight (%)
WAL MART DE MEXICO SAB DE CV 4.36
GRUPO FINANCIERO BANORTE SAB DE CV 4.34
ITAU UNIBANCO HOLDING SA 4.18
GRUPO MEXICO SAB DE CV 3.40
SUZANO SA 3.20

Exposure Breakdowns

Exposure Breakdowns

as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Oct 30, 2020

% 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.

Portfolio Managers

Portfolio Managers

Ed Kuczma
Ed Kuczma
Portfolio Manager

Literature

Literature

 

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