Fixed Income

BGF Euro Bond 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.

Credit risk, changes to interest rates and/or issuer defaults will have a significant impact on the performance of fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way. 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

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The chart has 1 Y axis displaying Values. Range: -20 to 10.
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  2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Return (%) 1.5 3.1 1.1 -0.7 6.0 4.0 -3.9 -17.3 7.3 1.9
Constraint Benchmark 1 (%) 1.0 3.3 0.7 0.4 6.0 4.1 -2.9 -17.2 7.2 2.6

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

  1y 3y 5y 10y Incept.
1.94 -3.27 -1.97 0.08 3.85
Constraint Benchmark 1 (%)

as of 31/Dec/2024

2.61 -3.08 -1.65 0.29 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.94 -1.12 -0.07 3.32 1.94 -9.48 -9.48 0.81 219.22
Constraint Benchmark 1 (%)

as of 31/Dec/2024

2.61 -1.05 0.13 3.89 2.61 -8.95 -7.97 2.90 -
  From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
From
31-Dec-2022
To
31-Dec-2023
From
31-Dec-2023
To
31-Dec-2024
Total Return (%)

as of 31/Dec/2024

4.03 -3.88 -17.25 7.31 1.94
Constraint Benchmark 1 (%)

as of 31/Dec/2024

4.07 -2.88 -17.22 7.19 2.61

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 EUR, 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/Jan/2025
EUR 1,907,291,308
Fund Launch Date
31/Mar/1994
Fund Base Currency
EUR
Constraint Benchmark 1
Bloomberg Euro-Aggregate 500mm+ Bond Index
SDR classification
Overseas ESG - out of scope
Ongoing Charges Figures
0.94%
ISIN
LU0050372472
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
EUR Diversified Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
4941666
Share Class launch date
31/Mar/1994
Share Class Currency
EUR
Asset Class
Fixed Income
SFDR Classification
Article 8
Initial Charge
5.00%
Management Fee
0.75%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
MIGSEBI

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Dec/2024
788
3y Beta
as of 31/Dec/2024
1.007
Modified Duration
as of 31/Dec/2024
6.71
Effective Duration
as of 31/Dec/2024
6.72
WAL to Worst
as of 31/Dec/2024
7.22
Standard Deviation (3y)
as of 31/Dec/2024
7.37%
Yield to Maturity
as of 31/Dec/2024
3.24
Weighted Average YTM
as of 31/Dec/2024
3.18%
Weighted Avg Maturity
as of 31/Dec/2024
7.22

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Sustainability-related Disclosure

Sustainability-related Disclosure

This section provides sustainability-related information about the Fund, pursuant to Article 10 SFDR.

Risk Indicator

Risk Indicator

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

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Euro Bond Fund, Class A2, as of 31/Dec/2024 rated against 1301 EUR Diversified Bond Funds.

Holdings

Holdings

as of 31/Dec/2024
Name Weight (%)
FRANCE (REPUBLIC OF) 0.75 02/25/2028 2.46
FRANCE (REPUBLIC OF) 2.75 02/25/2029 2.28
ITALY (REPUBLIC OF) 4 04/30/2035 2.20
FRANCE (REPUBLIC OF) 0 02/25/2026 1.71
GERMANY (FEDERAL REPUBLIC OF) 3.25 07/04/2042 1.21
Name Weight (%)
SPAIN (KINGDOM OF) 0 01/31/2027 1.20
EUROPEAN FINANCIAL STABILITY FACIL MTN RegS 0.75 05/03/2027 1.17
FRANCE (REPUBLIC OF) 0.5 05/25/2029 1.15
SPAIN (KINGDOM OF) 3.45 10/31/2034 1.09
FRANCE (REPUBLIC OF) 0 02/25/2027 1.08
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Dec/2024

% of Market Value

as of 31/Dec/2024

% of Market Value

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as of 31/Dec/2024

% of Market Value

as of 31/Dec/2024

% of Market Value

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

Portfolio Managers

Portfolio Managers

Ronald van Loon
Ronald van Loon
Giulia Artolli
Giulia Artolli
Georgie Merson
Georgie Merson