Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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LU2298322129
BlackRock BGF Sustainable Energy Fund HKD-Hedged

Equities
Global
HKD Cash
Accumulating

Invest with

HKD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Sustainable Energy Fund seeks to maximise total return. The Fund invests globally at least 70% of its total assets in the equity securities of sustainable energy companies. Sustainable energy companies are those which are engaged in alternative e...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Provides investors with an attractive opportunity to gain exposure to companies that benefit from or enable the transition to a lower carbon economy. High conviction, concentrated portfolio of 30-60 names.

People

Managed by portfolio managers Alastair Bishop and Charlie Lilford since 2016 and 2018 respectively. With over 20 years of experience in the clean/renewable energy sector, Alastair is a Managing Director at Blackrock and the Global Head of Sustainable Core Investing. Alastair also sits on BlackRock's Renewable Power Investment Committee and the EMEA Investment Stewardship Oversight Committee. Charlie joined Blackrock in 2016 from a private family office investment holding, where he was responsible for building out the energy and clean energy direct investment holdings of the industrial group, including 1200 MW of energy generation infrastructure. Charlie also previously worked at Piper Jaffray with a focus on Energy & Industrials M&A and Capital Markets. The two managers both sit within BlackRock's Thematics, Sectors and Impact team in London. The team was formed in 1991 and has been running Thematic funds since 2000. There are 20 people on the team with over 100 years of combined investment experience between them

Performance

Over the course of the last decade (2013 to 2022), the Fund generated strong performances, outperforming both the MSCI World Energy Sector and the broader MSCI ACWI indices by a significant margin. The Fund's focus on larger and higher quality names has also led to the Fund having a more defensive nature, reflected in its lower volatility and downside capture relative to peers.

Process

The team believes that markets are not fully efficient and can therefore find companies being undervalued by the market. However, contrary to other Funds that have broad exposure to many companies within the same connected theme, the team employs a concentrated and focused approach targeting companies that will emerge as winners in the sector. A combination approach of bottom-up, fundamental analysis of companies with a top-down macro and industry overlay is also undertaken to generate ideas. Once an opportunity has been identified, it is allocated to a fund manager or analyst for further research. For a company to be included in the portfolio, a minimum of 20% of the company's revenue is required to be exposed to the theme. The team also ensures that any non-sustainable energy part of the business is not engaged in activities that are against energy transition. A 3-5 year revenue forecast is also done to determine if a company's share price will be driven by the sustainable energy component of the business. A further consideration of ESG risks and opportunities within the team's fundamental analysis of companies and industries is included. Blackrock utilises an ESG Risk Window to flag any stock-specific concerns within their proprietary ESG framework.

Cost

Retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

Investors looking to participate in the structural shift towards clean and sustainable energy can consider an investment in the Fund. The Fund would also appeal to investors who are looking to be a part of the solution to environmental issues caused by climate change. The Fund invests specifically in a single theme with a few underlying sectors that are relatively new and can therefore experience significant volatility and drawdowns especially during unfavourable market conditions. Investors should ensure that they can construct a portfolio that is well diversified.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

27.47%

YTD

7.87%

1 month

7.87%

6 month

22.72%

1 year

39.16%

3 year

32.26%

As of Jan 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Risk metrics

Max drawdown

-29.73%As of Jan 2026

Volatility

20.41%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	7.9%	-	-	-	-	-	-	-	-	-	-	-
2025	31.1%	1.6%	-5.8%	-4.7%	2.4%	11.2%	4.2%	6.5%	2.4%	4.0%	6.0%	-1.7%	2.6%
2024	-10.1%	-6.6%	1.7%	2.1%	-2.3%	5.3%	-4.2%	2.3%	1.0%	3.1%	-6.9%	0.6%	-5.7%
2023	11.4%	7.1%	-0.8%	4.0%	-1.4%	-0.2%	3.3%	2.3%	-6.2%	-8.5%	-6.7%	11.6%	8.4%
2022	-19.0%	-12.9%	-0.6%	3.3%	-8.3%	0.3%	-13.0%	12.9%	-2.2%	-10.5%	5.9%	11.9%	-3.3%
Load more		5 of 6

Top Exposures

Holdings

Regions

Sectors

SSE PLC	5.50%
Linde PLC	5.49%
Vestas Wind Systems AS	5.04%
NextEra Energy Inc	4.97%
EDP Renovaveis SA	4.35%
First Solar Inc	4.10%
Nextpower Inc Class A	4.07%
National Grid PLC	3.54%
Siemens Energy AG Ordinary Shares	3.49%
Kingspan Group PLC	3.48%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.95%1.46% p.a.

Save 25%

Fund facts

ISIN

LU2298322129

Fund house

BlackRock

Fund size

HK$4.4B

As of 30 Jan 2026

Fund inception date

17 Mar 2021

Fund class currency

HKD

Fund share class

A2 HKD Hdg

Oldest share inception date

06 Apr 2001

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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Disclaimer:

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LU2298322129BlackRock BGF Sustainable Energy Fund HKD-Hedged

LU2298322129
BlackRock BGF Sustainable Energy Fund HKD-Hedged