Fixed Income

BGF US Government Mortgage Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

This fund does not have any distributions data as of now.
  From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of Dec 31, 2020

1.38 1.89 -0.46 6.78 5.47
Benchmark (%)

as of Dec 31, 2020

1.59 2.47 1.01 6.68 4.03
  1Y 3Y 5Y 10y Incept.
3.74 4.38 2.53 2.85 3.09
Benchmark (%)

as of Feb 28, 2021

1.66 4.28 2.64 2.94 3.06
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-0.55 -0.69 -0.28 3.74 13.71 13.29 32.42 39.86
Benchmark (%)

as of Feb 28, 2021

-0.71 -0.75 -0.39 1.66 13.39 13.92 33.63 39.35
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Size of Fund (Millions) as of Mar 8, 2021 USD 162.094
12m Trailing Yield -
Number of Holdings as of Feb 26, 2021 361
Base Currency U.S. Dollar
Fund Inception Date Aug 2, 1985
Share Class Inception Date Feb 26, 2010
Asset Class Fixed Income
Morningstar Category USD Government Bond
Benchmark Index FTSE Mortgage Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.66%
ISIN LU0424777026
Bloomberg Ticker MLUGEDA
Annual Management Fee 0.40%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B3VXXF4
Bloomberg Benchmark Ticker CG_MTG
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 100000
Minimum Subsequent Investment USD 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Feb 26, 2021 1.60%
Modified Duration as of Feb 26, 2021 4.18 yrs
Effective Duration as of Feb 26, 2021 3.99 yrs
Weighted Avg Maturity as of Feb 26, 2021 4.73 yrs
3y Volatility - Benchmark as of Feb 28, 2021 2.11
3y Beta as of Feb 28, 2021 0.871
5y Volatility - Benchmark as of Feb 28, 2021 2.13
5y Beta as of Feb 28, 2021 0.907
WAL to Worst as of Feb 26, 2021 4.73 yrs

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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. For newly launched funds, sustainability characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for BGF US Government Mortgage Fund, Class D2, as of Feb 28, 2021 rated against 179 USD Government Bond Funds.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Feb 26, 2021
Name Weight (%)
UMBS 30YR TBA(REG A) 34.19
GNMA2 30YR 23.33
FHLMC 30YR UMBS 17.15
GNMA2 30YR 2020 PRODUCTION 5.24
UMBS 15YR TBA(REG B) 4.57
Name Weight (%)
FNMA 30YR 2.5% Investor 2020 2.06
FNMA 30YR 2020 PRODUCTION 2.00
GNMA2 30YR 2017 PRODUCTION 1.68
GNMA2 30YR 2015 PRODUCTION 1.27
FGOLD 30YR 4% HLB 150K 2011 1.06
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Feb 26, 2021

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
D2 USD Accumulating 21.69 -0.03 -0.14 21.85 20.28 - LU0424777026 - -
A3 USD Monthly 9.28 -0.02 -0.22 9.49 8.98 - LU0172418690 - -
A1 USD Daily 9.28 -0.01 -0.11 9.48 8.97 - LU0035308682 - -
X3 USD Monthly 9.47 -0.01 -0.11 9.68 9.16 - LU1246652132 - -
C2 USD Accumulating 16.78 -0.02 -0.12 16.93 15.93 - LU0147385503 - -
I2 USD - 10.80 -0.01 -0.09 10.88 10.08 - LU2011139206 - -
E2 USD Accumulating 18.88 -0.02 -0.11 19.03 17.79 - LU0147385842 - -
E2 EUR Accumulating 15.89 0.02 0.13 17.46 15.44 - LU0277197322 - -
C1 USD Daily 9.79 -0.02 -0.20 10.00 9.46 - LU0147384878 - -
D3 USD Monthly 9.31 -0.01 -0.11 9.51 9.00 - LU0592702145 - -
I3 USD Monthly 9.48 -0.02 -0.21 9.69 9.17 - LU1456639035 - -
A2 USD Accumulating 20.83 -0.03 -0.14 20.99 19.54 - LU0096258446 - -

Portfolio Managers

Portfolio Managers

Akiva Dickstein
Head of Customized Multi-Sector Portfolios and co-Head of Global Inflation Linked Portfolios

Mr. Dickstein earned a BA degree in economics, summa cum laude, from Yale University in 1990, and an MA degree in physics from Princeton University in 1993.

Matthew Kraeger
Lead Portfolio Manager, Mortgage Portfolios

    

Bob Miller
Managing Director, Head of Americas Fundamental Fixed Income

Bob Miller, Managing Director, is head of Americas Fundamental Fixed Income within BlackRock's Global Fixed Income group and a member of the Global Fixed Income Executive Committee.

Literature

Literature