Morningstar Fund Report  | 05/04/2025Print

BlackRock Global Funds - Emerging Markets Fund A2

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
BlackRock Global Funds - Emerging Markets Fund A2
Fund-2.2-19.02.4-1.1-4.5
+/-Cat-0.7-6.9-1.8-9.2-3.8
+/-B’mrk-1.3-11.1-1.6-10.1-3.6
 
Category: Global Emerging Markets Equity
Category Benchmark: Morningstar EM TME NR USD
Key Stats
NAV
04/04/2025		 USD 34.37
Day Change -2.93%
Morningstar Category™ Global Emerging Markets Equity
ISIN LU0047713382
Fund Size (Mil)
31/03/2025		 USD 830.88
Share Class Size (Mil)
04/04/2025		 USD 281.81
Max Initial Charge 5.26%
Ongoing Charge
15/04/2024		  1.89%
Morningstar Research
Analyst Report08/05/2024
Samuel Lo, Associate Director
Morningstar, Inc

BGF Emerging Markets is led by a talented manager who employs a nimble, differentiated investment approach. The Luxembourg-domiciled vehicle’s clean D2 share class retains a Morningstar Analyst Rating of Bronze, while the other share classes...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent24
Process24
Performance
Price
Investment Objective: BlackRock Global Funds - Emerging Markets Fund A2
The Fund seeks to maximise total return. The Fund invests globally at least 70% of its total assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, emerging markets. Investment may also be made in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, developed markets that have significant business operations in emerging markets.
Returns
Trailing Returns (GBP)04/04/2025
YTD-9.03
3 Years Annualised-6.04
5 Years Annualised1.04
10 Years Annualised2.91
12 Month Yield 0.00
Management
Manager Name
Start Date
Gordon Fraser
29/03/2017
Kevin Jia
01/04/2020
Inception Date
30/11/1993

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI EM NR EURMorningstar EM TME NR USD
Portfolio Profile for  BlackRock Global Funds - Emerging Markets Fund A228/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.460.0098.46
Bond0.140.000.14
Property0.000.000.00
Cash27.1326.850.27
Other1.130.001.13
Top 5 Regions%
Asia - Emerging51.92
Asia - Developed20.27
Latin America8.64
Europe - Emerging7.70
Middle East3.86
Top 5 Sectors%
Technology29.75
Financial Services25.72
Communication Services13.21
Consumer Cyclical10.68
Industrials8.92
Top 5 HoldingsSector%
BlackRock ICS USD LiqEnvtlyAwr A... 9.81
Tencent Holdings LtdCommunication ServicesCommunication Services7.50
Taiwan Semiconductor Manufacturi... TechnologyTechnology7.43
SK Hynix IncTechnologyTechnology3.52
Alibaba Group Holding Ltd ADRConsumer CyclicalConsumer Cyclical2.23
Increase Decrease New since last portfolio
BlackRock Global Funds - Emerging Markets Fund A2
Growth Of 1000 (GBP) 31/03/2025
Fund:  BlackRock Global Funds - Emerging Markets Fund A2
Category:  Global Emerging Markets Equity
Category Index:  Morningstar EM TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-4.9919.7919.38-2.16-18.982.36-1.08-4.48
+/- Category6.295.525.33-0.71-6.92-1.75-9.19-3.81
+/- Category Index2.485.425.49-1.30-11.14-1.62-10.09-3.61
% Rank in Category615215690609793
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-2.93   -0.49-0.72
1 Week-6.26   -2.13-2.48
1 Month-6.25   -2.92-3.49
3 Months-9.46   -5.76-6.10
6 Months-13.07   -6.88-6.67
YTD-9.03   -6.23-6.40
1 Year-12.69   -13.44-15.23
3 Years Annualised-6.04   -6.72-7.43
5 Years Annualised1.04   -5.67-6.49
10 Years Annualised2.91   -1.32-2.33
 
Category: Global Emerging Markets Equity
Category Index: Morningstar EM TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-4.48---
20241.161.97-2.67-1.47
20231.69-0.49-0.781.95
2022-11.70-7.28-1.750.73
20214.364.26-7.89-2.37
2020-17.5921.041.7817.58
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearLowBelow Average1 star
5-YearLowAverage1 star
10-YearAverageAverage3 star
OverallBelow AverageAverage2 star
 
Category :  Global Emerging Markets EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev13.14 %
3-Yr Mean Return-3.10 %
 
3-Yr Sharpe Ratio-0.54
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar EM TME NR USD  MSCI EM NR USD
3-Yr Beta0.980.93
3-Yr Alpha-6.22-6.30
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 44821-
Market Capitalisation% of Equity
Giant56.18
Large24.52
Medium14.44
Small4.86
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings10.050.85
Price/Book1.600.97
Price/Sales1.511.01
Price/Cash Flow4.510.70
Dividend-Yield Factor3.181.00
 
Long-Term Projected Earnings Growth13.311.27
Historical Earnings Growth21.263.83
Sales Growth10.172.22
Cash-Flow Growth15.493.31
Book-Value Growth8.190.94
 
Category: Global Emerging Markets Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.460.0098.46
Bond0.140.000.14
Property0.000.000.00
Cash27.1326.850.27
Other1.130.001.13
World Regions28/02/2025
 % of EquityRelative to Category
United States3.263.89
Canada1.7315.65
Latin America8.640.94
United Kingdom1.073.53
Eurozone0.390.31
Europe - ex Euro0.000.00
Europe - Emerging7.703.49
Africa1.160.34
Middle East3.860.80
Japan0.000.00
Australasia0.00-
Asia - Developed20.270.70
Asia - Emerging51.921.07
 
Category: Global Emerging Markets Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials3.590.83
Consumer CyclicalConsumer Cyclical10.680.73
Financial ServicesFinancial Services25.721.06
Real EstateReal Estate4.932.54
Consumer DefensiveConsumer Defensive0.280.06
UtilitiesUtilities2.401.33
Communication ServicesCommunication Services13.211.28
EnergyEnergy0.510.16
IndustrialsIndustrials8.921.37
TechnologyTechnology29.751.20
 
Category: Global Emerging Markets Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings77
Total Number of Bond Holdings0
Assets in Top 10 Holdings40.92
NameSectorCountry% of Assets
BlackRock ICS USD LiqEnvtlyAwr Agcy IncIreland9.81
Tencent Holdings Ltd308China7.50
Taiwan Semiconductor Manufacturing Co... 311Taiwan7.43
SK Hynix Inc311Korea, Republic Of3.52
Alibaba Group Holding Ltd ADR102China2.23
NAVER Corp308Korea, Republic Of2.21
Ping An Insurance (Group) Co. of Chin... 103China2.09
Tata Consultancy Services Ltd311India2.08
China Merchants Bank Co Ltd Class A103China2.04
OTP Bank PLC103Hungary2.02
 
Increase Decrease New since last portfolio
Category: Global Emerging Markets Equity
 
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 Date30/11/1993
Fund Advisor(s)
BlackRock Investment Management, LLC
BlackRock Investment Management (UK) Ltd.
Fund ManagerGordon Fraser
Manager Start Date29/03/2017
Career Start Year2006
Education
2006, Cambridge University, BA
 
Biography
Gordon Fraser, CFA, Managing Director, is Co-Head of Global Emerging Markets Equities for BlackRock’s Fundamental Equity Group. Mr. Fraser is lead portfolio manager for the Core Global Emerging Markets strategy and co-manages the Emerging Frontiers Hedge Fund. Mr. Fraser is also named manager on the Emerging Markets Equity Strategies Fund. Mr. Fraser is platform lead for macroeconomic analysis. He joined BlackRock as an Analyst in 2006. Mr. Fraser earned a BA (1st class) and an MPhil (distinction) in Economics from Cambridge University in 2006. He is also a CFA Charterholder.
Fund ManagerKevin Jia
Manager Start Date01/04/2020
Career Start Year2012
Education
2013, Tsinghua University, B.A.
 
Biography
Kevin Jia, Director, is a portfolio manager and research analyst on the Global Emerging Markets Equities Team within BlackRock’s Fundamental Equity Group. Mr Jia co-manages the Global Emerging Markets Core Strategy with Gordon Fraser. He is also a member of the North Asia Consumers and Communication Services research pod. Prior to joining BlackRock in 2015, Mr. Jia was with KKR, based in Beijing, responsible for private equity investment due diligence and portfolio company management. Mr. Jia earned a BA degree in Economics & Finance from Tsinghua University in 2013.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.26%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.89%
Purchase Details
Minimum Investments
Initial5000  USD
Additional1000  USD
Savings-
Tax Free Savings Schemes
ISAsNo