| Morningstar Fund Report | 17/04/2025 |  |
BlackRock Global Funds - Emerging Markets Local Currency Bond Fund I5 |
| Performance History | 31/03/2025 |
| Growth of 1,000 (GBP) | Advanced Graph |
 | Fund | -6.8 | 3.1 | 9.7 | -4.0 | 1.6 |
| +/-Cat | 0.4 | 1.6 | 3.2 | -2.4 | 0.5 |
| +/-B’mrk | - | - | - | -4.3 | 0.7 |
| Category: Global Emerging Markets Bond - Local Currency | ||||||
| Category Benchmark: Morningstar EM Govt Bd LCCY... | ||||||
| Key Stats | ||
| NAV 16/04/2025 | USD 7.25 | |
| Day Change | 0.20% | |
| Morningstar Category™ | Global Emerging Markets Bond - Local Currency | |
| ISIN | LU1495982867 | |
| Fund Size (Mil) 31/03/2025 | USD 1560.27 | |
| Share Class Size (Mil) 16/04/2025 | USD 43.54 | |
| Max Initial Charge | - | |
| Ongoing Charge 05/02/2024 | 0.60% | |
| Morningstar Research |
| Analyst Report | 05/03/2025 Elbie Louw, Senior Analyst Morningstar, Inc |
The dust still has been settling on personnel changes at BGF Emerging Markets Local Currency Bond during the past 14 months. Its cheaper share classes retain their Morningstar Analyst Rating of Neutral, while its more-expensive share classes are... | |
| Click here to read this analyst report on the underlying fund. | |
| Morningstar Pillars | |
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| People | 23 |
| Parent | 24 |
| Process | 23 |
| Performance | |
| Price | |
| Investment Objective: BlackRock Global Funds - Emerging Markets Local Currency Bond Fund I5 |
| The Fund seeks to maximise total return. The Fund invests at least 70% of its total assets in local currency-denominated fixed income transferable securities issued by governments and agencies of, and companies domiciled or exercising the predominant part of their economic activity in, emerging markets. The full spectrum of available securities, including noninvestment grade, may be utilised. Currency exposure is flexibly managed. |
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| Management | ||
Manager Name Start Date | ||
Laurent Develay 27/07/2012 | ||
Michal Wozniak 05/11/2015 | ||
Inception Date 02/02/2007 | ||
| Category Benchmark | |
| Fund Benchmark | Morningstar Benchmark |
| JPM GBI-EM Global Diversified TR USD | Morningstar EM Govt Bd LCCY GR USD |
| Portfolio Profile for BlackRock Global Funds - Emerging Markets Local Currency Bond Fund I5 | 31/03/2025 |
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| Growth Of 1000 (GBP) | 31/03/2025 |
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| Annual Returns (GBP) | 31/03/2025 | |||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 31/03 | |
| Price Return | -6.20 | 8.16 | -0.36 | -6.81 | 3.14 | 9.70 | -4.01 | 1.56 |
| +/- Category | -3.77 | 1.05 | 0.16 | 0.44 | 1.64 | 3.22 | -2.44 | 0.51 |
| +/- Category Index | - | - | - | - | - | - | -4.31 | 0.67 |
| % Rank in Category | 94 | 46 | 41 | 30 | 26 | 7 | 87 | 20 |
| Trailing Returns (GBP) | 16/04/2025 | ||
| Total Returns | +/- Category | +/- Category Index | |
| 1 Day | 0.20 | 0.62 | 0.71 |
| 1 Week | -1.17 | 0.63 | 0.95 |
| 1 Month | -2.47 | 0.34 | 0.03 |
| 3 Months | -2.45 | 0.82 | 0.73 |
| 6 Months | -1.89 | -0.67 | -1.64 |
| YTD | 0.00 | 1.01 | 1.19 |
| 1 Year | -0.80 | 0.48 | -1.08 |
| 3 Years Annualised | 4.55 | 1.45 | 1.58 |
| 5 Years Annualised | 2.39 | 1.08 | 1.05 |
| 10 Years Annualised | - | - | - |
| Category: Global Emerging Markets Bond - Local Currency | |||
| Category Index: Morningstar EM Govt Bd LCCY GR USD | |||
| Quarterly Returns (GBP) | 31/03/2025 | |||
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
| 2025 | 1.56 | - | - | - |
| 2024 | -1.34 | -2.03 | 2.60 | -3.20 |
| 2023 | 2.47 | 1.37 | -0.81 | 6.47 |
| 2022 | -4.22 | 0.13 | 5.55 | 1.89 |
| 2021 | -7.54 | 3.78 | -0.65 | -2.24 |
| 2020 | -12.02 | 10.90 | -2.56 | 4.80 |
| Morningstar Rating™(Relative to Category) | 31/03/2025 | ||||||||||||||||||||
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| Category : Global Emerging Markets Bond - Local Currency | Click here to see our Methodology | ||||||||||||||||||||
| Volatility Measurements | 31/03/2025 | ||||||||||
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| Modern Portfolio Statistics | 31/03/2025 | 31/03/2025 |
| Standard Index | Best Fit Index | |
| Morningstar EM Govt Bd LCCY GR USD | Morningstar EM Govt Bd LCCY GR USD | |
| 3-Yr Beta | 1.18 | 1.18 |
| 3-Yr Alpha | 1.80 | 1.80 |
| Fixed Income Style | 31/03/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Asset Allocation | 31/03/2025 |
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| Top 10 Holdings | 31/03/2025 |
| Portfolio NEW | |
| Total Number of Equity Holdings | 0 |
| Total Number of Bond Holdings | 179 |
| Assets in Top 10 Holdings | 20.79 |
| Name | Sector | Country | % of Assets | ||
 Peru (Republic Of) |  | Peru | 2.96 | ||
 Secretaria Do Tesouro Nacional | | Brazil | 2.37 | ||
| Colombia (Republic Of) | | Colombia | 2.12 | ||
| Colombia (Republic Of) | | Colombia | 2.08 | ||
| Poland (Republic of) | | Poland | 1.96 | ||
| Secretaria Do Tesouro Nacional | | Brazil | 1.96 | ||
| South Africa (Republic of) | | South Africa | 1.96 | ||
| South Africa (Republic of) | | South Africa | 1.83 | ||
| Colombia (Republic Of) | | Colombia | 1.80 | ||
| Secretaria Do Tesouro Nacional | | Brazil | 1.74 | ||
Increase Decrease  New since last portfolio | |||||
| Category: Global Emerging Markets Bond - Local Currency | |||||
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| Biography | |
| Laurent Develay, Director, is a portfolio manager on the Emerging Markets Debt team within BlackRock's Portfolio Management Group. He has responsibility for managing emerging market currencies and local debt investments. Prior to joining BlackRock in June 2012, Mr. Develay was a portfolio manager in the Emerging Markets Debt team at Fischer Francis Trees & Watts (FFTW, a BNP Paribas Investment Partner) with an alpha focus on EM currencies and regional research coverage of Latin America. Prior to the merger between BNP Paribas and Fortis, Mr. Develay was head of the currency and commodity trading team at Fortis Investments for five years in Paris and London with a strong focus on emerging markets currencies. Previously, Mr. Develay served as a currency trader at AXA Investment Managers where he started his career in 1999. Mr. Develay earned Master in Finance in 1996 from the E.S.L.S.C.A. in Paris and a Certificate in Finance from UC Berkeley Extension in 1998. |
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| Fund Manager | Michal Wozniak |
| Manager Start Date | 05/11/2015 |
| Career Start Year | 2000 |
| Education |
| 2001, Warsaw School of Economics, M.A. |
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| Biography | |
| Michal Wozniak, CFA, Director, is a Portfolio Manager for Emerging Markets Debt Portfolio Management team for Blackrock Global Fixed Income Group. He has responsibility for managing local rates within dedicated local currency bond portfolios and multi-segment strategies, including, local rates, sovereign debt emerging market currencies. Prior to joining BlackRock in November 2013, Mr. Wozniak was working as a portfolio manager in Emerging Markets Debt teams in Lombard Odier Investment Managers and JPMorgan Asset Management, focusing on global local and hard currency fixed income strategies. Before that, he was responsible for Eastern European strategies in Fortis Investments in London. From 2002 until 2007 he was working in Credit Suisse Asset Management in Warsaw, initially as a portfolio manager and later heading the fixed income team. Michal started his professional career in 2000 as an equity analyst in ABN AMRO Asset Management. Michal earned a Master’s in Finance and Banking from the Warsaw School of Economics in 2001. |
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