Investments

BGF Emerging Markets Bond Fund

Invest in bonds from the Emerging Countries…

BGF Emerging Markets Bond Fund is a sub-fund of the SICAV/BEVEK investment fund under Luxembourg law BlackRock Global Funds (BGF).



  • Fund launch date

    the 1st of October 2004

  • Class Launch date

    the 1st of October 2004

  • Reference currency

    The reference currency is the Euro.

  • For an investor seeking for...

    • Expanding the search for yield into emerging markets sovereign debt, diversify their fixed income portfolio and maximise their returns. It may also suit those investors looking to reduce the currency risks of their EMD portfolio.

    But…

    The main risks for the Sub-Fund are :


    • Geographic Risk: Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund.
    • 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: Derivatives are 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.
    • Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss.
    • Credit Risk: The issuer of a financial asset held within the Fund may not pay income or repay capital to the Fund when due.
    • Liquidity Risk: Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily.

    The occurrence of any of these risks may have an impact on the net asset value of your portfolio.

The net asset value is calculated in Belgium each bank working day. The net asset value is published every public banking business day in Belgium in the financial press, as well as on the BeAMA website (www.beama.be/en/nav). It is also available at the Management Company’s registered address and over the counter from your financial services provider.

A swing price may be applied. Swing pricing aims to reduce the dilution effect brought about when significant operations within a sub-fund compel its manager to buy or sell its underlying assets. These transactions give rise to transaction fees and taxes that have an effect on the fund’s value, as well as on all its investors. Where swing pricing is applied, the sub-fund’s net asset value is adjusted by a particular amount when the capital flow exceeds a certain threshold (the swing factor). This amount is designed to offset expected transaction fees resulting from the difference between incoming and outgoing capital. Swing pricing is only used on rare occasions, if at all.

Please refer to the BGF Emerging Markets Bond Fund prospectus (PDF) for additional information.

  • Minimum investment

    1 part


    Term

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    One-off charges

    • Entry charge (applicable by ING Belgium): 3%

    • Exit charge: 0%


    Ongoing charges

    • Ongoing charges taken from the Sub-Fund over a year: 1.47% of which 1,20% of management fees.

    • Custody fee: 0%/annum

    For other charges that might be paid by the investor, we refer to the prospectus.


    Taxation

    Stock exchange tax (applicable to redemptions only):


    • Capitalization share: 1,32% (max 4000 EUR)

    • Distribution share: none


    Withholding tax on dividends:


    • Capitalization share: none

    • Distribution share: 30%


    Withholding tax in case of redemption:


    • Sub-fund permitted to invest more than 25% of assets in debt securities: yes

    • Sub-fund actually more than 25% invested in debt securities: yes

    • Withholding tax (30% depending on the investor’s particular tax situation): applicable


    *Tax treaty based on the current legislation
    Dividends received from distributing shares are subject to the Belgian withholding tax of 30%. The Belgian withholding tax applicable to interests included in the repurchase price of accumulating and distributing shares investing more than 25% of their assets in any kind of debts amounts to 30%.
    This tax system applies to Retail customers – private individuals resident in Belgium. Taxation depends on the individual situation of each customer and may change in the future.

Financial Service Belgium : J.P. Morgan Chase Bank, Boulevard du Roi Albert II 1, B-1210 Bruxelles

Complaints can be lodged with ING – Customer Service – Cours Saint Michel, 60 – 1040 Brussels. If no settlement can be reached in this way, please contact the Banks - Credit - Investments Mediation Service (www.ombudsfin.be).

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