Fixed Income

iShares Emerging Markets Local Government Bond Index Fund (IE)

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  • NAV as of 19/Sep/2023 USD 9.55
  • 1 Day NAV Change as of 19/Sep/2023 -0.02 (-0.18%)

Overview

Investment Approach


The Fund aims to achieve a total return on your investment, through a combination of capital growth and income, which reflects the return of the J.P. Morgan Government Bond Index - Emerging Market Global Diversified Index, the Fund’s benchmark index (Index).

The Fund invests predominantly in fixed income (FI) securities (such as bonds) that make up the Index. The Index is comprised of local currency denominated fixed rate FI securities issued by emerging market sovereign and quasi-sovereign entities. Quasi-sovereign entities must be 100% guaranteed or 100% owned by the relevant sovereign entity.

At the time of purchase, the FI securities may be investment grade (i.e. meet a specified level of credit worthiness) non-investment grade or unrated. Below investment grade FI securities may constitute a significant portion of the Index. Such securities may be rated or are deemed by the investment manager to be of equivalent rating. If the credit rating of a FI security is downgraded, the Fund may continue to hold this, until it is practicable to sell the position.

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.

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. Fixed income securities issued or guaranteed by government entities in emerging markets generally experience higher ‘Credit Risk’ than developed economies. Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Noninvestment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of perceived risk. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment.

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

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Performance

Performance

This chart has been left intentionally blank as there is less than one year's performance data.
Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.

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 USD hedged Share Class Benchmark performance is displayed in USD.

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 as of 19/Sep/2023 USD 14,032,378
Net Assets of Fund as of 19/Sep/2023 USD 1,151,323,845
Share Class launch date 27/Jul/2023
Fund Launch Date 04/May/2018
Share Class Currency USD
Fund Base Currency USD
Asset Class Fixed Income
Benchmark Index J.P. Morgan GBI-EM Global Diversified Index
SFDR Classification Other
Initial Charge 0.00
Ongoing Charges Figures 0.30%
ISIN IE000OZZKBN3
Annual Management Fee 0.20%
Performance Fee 0.00%
Minimum Initial Investment USD 500,000.00
Minimum Subsequent Investment USD 5,000.00
Use of Income Accumulating
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Morningstar Category -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker ISEGVBI
SEDOL BMFF5Y2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31/Aug/2023 291
Standard Deviation (3y) as of - -
3y Beta as of - -
Yield to Maturity as of 31/Aug/2023 6.72%
Modified Duration as of 31/Aug/2023 4.97
Weighted Av YTM as of 31/Aug/2023 6.72%
Effective Duration as of 31/Aug/2023 4.97
Weighted Avg Maturity as of 31/Aug/2023 7.08 yrs
WAL to Worst as of 31/Aug/2023 7.08 yrs

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31/Aug/2023
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 2.30
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2026 1.74
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 1.58
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 1.50
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 1.47
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 01/01/2026 1.46
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 1.36
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 1.26
BRAZIL FEDERATIVE REPUBLIC OF (GOV 10 01/01/2029 1.24
MEXICO (UNITED MEXICAN STATES) (GO 7.75 05/29/2031 1.15
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Aug/2023

% of Market Value

Type Fund Benchmark Net
as of 31/Aug/2023

% of Market Value

Type Fund Benchmark Net
as of 31/Aug/2023

% of Market Value

Type Fund Benchmark Net
as of 31/Aug/2023

% of Market Value

Type Fund Benchmark Net
as of 31/Aug/2023

% of Market Value

Type Fund Benchmark Net
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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class Inst Acc USD - 9.55 -0.02 -0.18 19/Sep/2023 10.00 9.52 IE000OZZKBN3
Flexible Dist GBP Semi-Annual 9.86 -0.04 -0.36 19/Sep/2023 10.26 9.65 IE000A8DUDZ3
Class Flexible Acc EUR - 10.29 -0.03 -0.32 19/Sep/2023 10.47 9.55 IE00BD9H4D36
Class D Dist GBP - 8.00 -0.03 -0.36 19/Sep/2023 8.48 7.82 IE00BKFVZC40
Class D Acc USD - 9.15 -0.02 -0.18 19/Sep/2023 9.62 7.87 IE00BF2N5W82
Inst Acc GBP - 9.27 -0.03 -0.36 19/Sep/2023 9.44 8.65 IE00BM9G6X72

Portfolio Managers

Portfolio Managers

Francis Rayner
Francis Rayner

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 3 years
Example Investment USD 10,000
Scenario
If you exit after 1 year
If you exit after 3 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
6,960 USD
-30.4%
6,100 USD
-15.2%

Unfavourable

What you might get back after costs
Average return each year
7,820 USD
-21.8%
7,660 USD
-8.5%

Moderate

What you might get back after costs
Average return each year
9,940 USD
-0.6%
10,200 USD
0.6%

Favourable

What you might get back after costs
Average return each year
11,740 USD
17.4%
12,370 USD
7.3%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature