Fixed Income

BGF Global Government Bond 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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Distributions

Record Date Ex-Date Payable Date
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  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

2.82 2.33 0.51 7.44 7.10
  1Y 3Y 5Y 10y Incept.
0.79 4.13 2.95 3.53 3.53
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-2.77 -2.05 -2.35 0.79 12.92 15.65 41.50 82.54
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 5, 2021 USD 770.229
12m Trailing Yield as of Feb 28, 2021 0.44
Number of Holdings as of Feb 26, 2021 814
Base Currency U.S. Dollar
Fund Inception Date May 14, 1987
Share Class Inception Date Oct 24, 2003
Asset Class Fixed Income
Morningstar Category Global Bond - USD Hedged
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.98%
ISIN LU0172412149
Bloomberg Ticker MLUSGUA
Annual Management Fee 0.75%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL 7659706
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Feb 26, 2021 1.22%
Modified Duration as of Feb 26, 2021 8.99 yrs
Effective Duration as of Feb 26, 2021 8.61 yrs
Weighted Avg Maturity as of Feb 26, 2021 9.24 yrs
WAL to Worst as of Feb 26, 2021 9.24 yrs

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Feb 5, 2021 BBB
MSCI ESG Quality Score (0-10) as of Feb 5, 2021 5.59
MSCI ESG Quality Score - Peer Percentile as of Feb 5, 2021 8.33
MSCI ESG % Coverage as of Feb 5, 2021 86.38
Fund Lipper Global Classification as of Feb 5, 2021 Bond USD Government
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Feb 5, 2021 455.98
Funds in Peer Group as of Feb 5, 2021 132
All data is from MSCI ESG Fund Ratings as of Feb 5, 2021, based on holdings as of Aug 31, 2020. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

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.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Feb 26, 2021 0.00%
MSCI - UN Global Compact Violators as of Feb 26, 2021 0.53%
MSCI - Nuclear Weapons as of Feb 26, 2021 0.00%
MSCI - Thermal Coal as of Feb 26, 2021 0.00%
MSCI - Civilian Firearms as of Feb 26, 2021 0.00%
MSCI - Oil Sands as of Feb 26, 2021 0.00%
MSCI - Tobacco as of Feb 26, 2021 0.00%

Business Involvement Coverage as of Feb 26, 2021 7.01%
Percentage of Fund not covered as of Feb 26, 2021 92.99%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.03% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

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 phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves 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

3
Overall Morningstar Rating for BGF Global Government Bond Fund, Class A3, as of Feb 28, 2021 rated against 297 Global Bond - USD Hedged 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 (%)
TREASURY NOTE 0.25 06/30/2025 5.19
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 2.49
TREASURY (CPI) NOTE 0.125 01/15/2031 1.52
FRANCE (REPUBLIC OF) 0 05/25/2022 1.36
JAPAN (GOVERNMENT OF) 5YR #132 0.1 06/20/2022 1.26
Name Weight (%)
JAPAN (GOVERNMENT OF) 5YR #137 0.1 09/20/2023 1.15
SPAIN (KINGDOM OF) 0.5 04/30/2030 1.09
JAPAN (GOVERNMENT OF) 2YR #411 0.1 04/01/2022 1.00
FRANCE (REPUBLIC OF) 0.5 05/25/2025 0.99
ITALY (REPUBLIC OF) 1.75 07/01/2024 0.94
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 26, 2021

% of Market Value

Type Fund
as of Feb 26, 2021

% of Market Value

Type Fund
as of Feb 26, 2021

% of Market Value

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

% of Market Value

Type Fund
as of Feb 26, 2021

% of Market Value

Type Fund
as of Feb 26, 2021

% of Market Value

Type Fund
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
A3 USD Monthly 22.57 -0.02 -0.09 23.22 21.47 - LU0172412149 - -
D2 Hgd EUR Accumulating 28.40 -0.03 -0.11 29.21 27.11 - LU0329591563 - -
A3 Hgd HKD Monthly 106.18 -0.10 -0.09 109.24 100.96 - LU1484781478 - -
E2 Hgd EUR Accumulating 24.20 -0.03 -0.12 24.94 23.29 - LU0297944059 - -
X2 Hgd EUR Accumulating 11.61 -0.01 -0.09 11.93 11.03 - LU1083813532 - -
E2 USD Accumulating 28.94 -0.03 -0.10 29.77 27.53 - LU0090845412 - -
X2 USD Accumulating 11.84 -0.01 -0.08 12.15 11.12 - LU0462857607 - -
D3 USD Monthly 22.60 -0.02 -0.09 23.25 21.49 - LU0827882043 - -
I2 USD Accumulating 11.80 -0.01 -0.08 12.12 11.12 - LU1567964413 - -
C1 USD Daily 20.77 -0.02 -0.10 21.40 19.90 - LU0331285410 - -
I4 Hgd EUR Annual 10.45 -0.01 -0.10 10.76 10.06 - LU1811366183 - -
X2 Hgd SEK Accumulating 106.76 -0.10 -0.09 109.59 100.91 - LU1495984053 - -
A1 USD Daily 22.55 -0.02 -0.09 23.19 21.43 - LU0118256485 - -
C2 USD Accumulating 24.28 -0.02 -0.08 25.00 23.26 - LU0147382310 - -
D2 USD Accumulating 33.42 -0.03 -0.09 34.32 31.53 - LU0540001038 - -
X2 Hgd NOK - 112.74 -0.10 -0.09 115.62 106.11 - LU1806518707 - -
A2 Hgd EUR Accumulating 27.02 -0.02 -0.07 27.81 25.87 - LU0297942863 - -
C2 Hgd EUR Accumulating 20.42 -0.02 -0.10 21.16 19.79 - LU0297943838 - -
A3 Hgd GBP Monthly 10.30 -0.01 -0.10 10.60 9.84 - LU1484781395 - -
D3 Hgd EUR Monthly 19.13 -0.01 -0.05 19.71 18.36 - LU0827881821 - -
A2 USD Accumulating 32.19 -0.02 -0.06 33.08 30.47 - LU0006061385 - -
C3 USD Monthly 21.80 -0.02 -0.09 22.45 20.88 - LU0172412495 - -
C1 Hgd EUR Daily 17.93 -0.02 -0.11 18.58 17.37 - LU0297940818 - -
A1 Hgd EUR Daily 19.23 -0.02 -0.10 19.82 18.49 - LU0297940495 - -
A3 Hgd EUR Monthly 19.07 -0.02 -0.10 19.65 18.34 - LU0297943168 - -

Portfolio Managers

Portfolio Managers

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.

Chi Chen
Chi Chen
Aidan Doyle
Aidan Doyle
Sam Summers
Sam Summers

Literature

Literature