Morningstar Fund Report  | 05/04/2025Print

BGF Natural Resources Fund Class A2 USD

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
BGF Natural Resources Fund Class A2 USD
Fund30.531.5-7.5-3.22.8
+/-Cat13.021.9-4.00.91.6
+/-B’mrk3.11.5-0.63.6-1.1
 
Category: Sector Equity Natural Resources
Category Benchmark: Morningstar Gbl Upstm Nat R...
Key Stats
NAV
04/04/2025		 USD 11.94
Day Change -5.22%
Morningstar Category™ Sector Equity Natural Resources
ISIN LU0612318385
Fund Size (Mil)
31/05/2024		 USD 334.56
Share Class Size (Mil)
04/04/2025		 USD 71.80
Max Initial Charge 5.26%
Ongoing Charge
04/02/2025		  1.81%
Investment Objective: BGF Natural Resources Fund Class A2 USD
The Fund seeks to achieve capital growth and an above average income from its equity investments. The Fund invests at least 70% of its total assets in the equity securities of companies whose predominant economic activity is in the natural resources sector, such as, but not limited to, companies engaged in mining, energy and agriculture.
Returns
Trailing Returns (GBP)04/04/2025
YTD-6.35
3 Years Annualised-4.60
5 Years Annualised14.33
10 Years Annualised5.99
12 Month Yield 0.00
Management
Manager Name
Start Date
Thomas Holl
15/04/2011
Alastair Bishop
31/03/2016
Inception Date
15/04/2011

Category Benchmark
Fund BenchmarkMorningstar Benchmark
S&P Global Natural Resources NR EURMorningstar Gbl Upstm Nat Res NR USD
Portfolio Profile for  BGF Natural Resources Fund Class A2 USD28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.250.0098.25
Bond0.020.000.02
Property0.000.000.00
Cash10.318.581.73
Other0.000.000.00
Top 5 Regions%
United States42.50
United Kingdom19.73
Canada19.10
Eurozone7.81
Europe - ex Euro5.44
Top 5 Sectors%
Basic Materials53.82
Energy33.84
Consumer Cyclical12.34
Top 5 HoldingsSector%
Shell PLCEnergyEnergy8.34
Exxon Mobil CorpEnergyEnergy6.72
Wheaton Precious Metals CorpBasic MaterialsBasic Materials6.09
Nutrien LtdBasic MaterialsBasic Materials4.40
Chevron CorpEnergyEnergy4.10
Increase Decrease New since last portfolio
BGF Natural Resources Fund Class A2 USD
Growth Of 1000 (GBP) 31/03/2025
Fund:  BGF Natural Resources Fund Class A2 USD
Category:  Sector Equity Natural Resources
Category Index:  Morningstar Gbl Upstm Nat Res NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-13.5811.04-0.9430.5331.48-7.49-3.162.85
+/- Category1.64-2.14-12.7212.9821.88-3.960.921.56
+/- Category Index-10.39-3.010.833.051.48-0.643.64-1.11
% Rank in Category4863661215694646
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-5.22   -2.38-1.27
1 Week-9.74   -4.19-5.11
1 Month-8.47   -4.60-6.89
3 Months-8.14   -2.12-6.20
6 Months-12.25   -1.31-4.65
YTD-6.35   -3.05-6.31
1 Year-13.85   -2.40-3.93
3 Years Annualised-4.60   -0.46-1.14
5 Years Annualised14.33   0.140.56
10 Years Annualised5.99   -0.32-1.64
 
Category: Sector Equity Natural Resources
Category Index: Morningstar Gbl Upstm Nat Res NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20252.85---
20241.690.62-2.25-3.18
2023-4.48-6.348.66-4.84
202226.02-10.026.349.04
202112.087.530.537.73
2020-27.6921.11-2.6516.20
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAbove AverageAverage5 star
10-YearAbove AverageAverage4 star
OverallAbove AverageAverage4 star
 
Category :  Sector Equity Natural ResourcesClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev16.94 %
3-Yr Mean Return0.11 %
 
3-Yr Sharpe Ratio-0.23
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl Upstm Nat Res NR USD  Morningstar Gbl Upstm Nat Res NR USD
3-Yr Beta1.041.04
3-Yr Alpha0.850.85
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 46622-
Market Capitalisation% of Equity
Giant26.00
Large34.34
Medium35.23
Small4.43
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings13.381.15
Price/Book1.560.97
Price/Sales1.130.99
Price/Cash Flow7.110.94
Dividend-Yield Factor3.211.12
 
Long-Term Projected Earnings Growth9.860.73
Historical Earnings Growth-16.341.23
Sales Growth0.900.24
Cash-Flow Growth-9.16-0.31
Book-Value Growth7.941.19
 
Category: Sector Equity Natural Resources
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.250.0098.25
Bond0.020.000.02
Property0.000.000.00
Cash10.318.581.73
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States42.501.47
Canada19.100.69
Latin America2.240.56
United Kingdom19.731.83
Eurozone7.811.89
Europe - ex Euro5.440.85
Europe - Emerging0.000.00
Africa1.360.42
Middle East0.000.00
Japan0.000.00
Australasia1.820.19
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: Sector Equity Natural Resources
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials53.820.78
Consumer CyclicalConsumer Cyclical12.344.11
EnergyEnergy33.841.75
 
Category: Sector Equity Natural Resources
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings45
Total Number of Bond Holdings0
Assets in Top 10 Holdings48.58
NameSectorCountry% of Assets
Shell PLC309United Kingdom8.34
Exxon Mobil Corp309United States6.72
Wheaton Precious Metals Corp101Canada6.09
Nutrien Ltd101Canada4.40
Chevron Corp309United States4.10
Corteva Inc101United States3.85
Smurfit WestRock PLC102Ireland3.84
Packaging Corp of America102United States3.83
Anglo American PLC101United Kingdom3.80
Norsk Hydro ASA101Norway3.61
 
Increase Decrease New since last portfolio
Category: Sector Equity Natural Resources
 
Management
Name of CompanyBlackRock (Luxembourg) SA
Phone+44 20 77433000
Websitewww.blackrock.com
Address35 A, avenue J.F. Kennedy,
 Luxembourg   L-1855
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date15/04/2011
Fund Advisor(s)
BlackRock Investment Management, LLC
BlackRock Investment Management (UK) Ltd.
Fund ManagerThomas Holl
Manager Start Date15/04/2011
Education
2006, University of Cambridge, B.A.
 
Biography
Tom Holl, CFA, Director, is a member of the Natural Resources team within the Fundamental Equity division of BlackRock’s Active Equity Group. He is responsible for covering the mining and gold sectors. Mr. Holl moved to his current role in 2008. His service with the BlackRock dates back to 2006, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, Mr. Holl was a member of the Global Equity team and the Real Estate team as a member of the graduate training program. Mr. Holl earned a BA degree, with honors, in Land Economy from Cambridge University in 2006.
Fund ManagerAlastair Bishop
Manager Start Date31/03/2016
Career Start Year2001
Education
2001, University of Nottingham, B.S.
 
Biography
Alastair Bishop, Managing Director, is a member of the Natural Resources team within Fundamental Equity division of BlackRock’s Active Equity Group. Mr. Bishop was a senior research analyst at Piper Jaffray, where he was responsible for covering the Clean Technology industry. Prior to joining Piper Jaffray in 2009, he covered the Renewable Energy and Industrial sectors for 8 years at Dresdner Kleinwort. Mr. Bishop began his career in 2001 at Dresdner Kleinwort Investment Bank. Mr. Bishop earned a BSc degree in economics from the University of Nottingham in 2001.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.26%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.81%
Purchase Details
Minimum Investments
Initial5000  USD
Additional1000  USD
Savings-
Tax Free Savings Schemes
ISAsNo