Fixed Income

BGF Global Corporate Bond Fund

Overview

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.
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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
View full table
  From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
Total Return (%)

as of Sep 30, 2022

-2.99 8.71 3.81 0.96 -18.61
Benchmark (%)

as of Sep 30, 2022

0.08 11.70 6.20 1.92 -16.67
  1Y 3Y 5Y 10y Incept.
-18.61 -5.16 -2.09 0.58 0.67
Benchmark (%)

as of Sep 30, 2022

-16.67 -3.38 0.17 2.03 2.13
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-18.07 -4.99 -4.61 -18.61 -14.69 -10.04 5.91 6.91
Benchmark (%)

as of Sep 30, 2022

-16.70 -4.49 -4.30 -16.67 -9.80 0.84 22.27 23.64
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 Oct 5, 2022 USD 749.799
12m Trailing Yield as of Sep 30, 2022 1.64
Number of Holdings as of Aug 31, 2022 472
Base Currency U.S. Dollar
Fund Inception Date Oct 19, 2007
Share Class Inception Date Aug 29, 2012
Asset Class Fixed Income
Morningstar Category Global Corporate Bond - GBP Hedged
Benchmark Index BBG Global Agg Corporate Index, 100% USD Hedged
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 1.11%
ISIN LU0816460231
Bloomberg Ticker BRGCA3G
Annual Management Fee 0.90%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B8MLN63
Bloomberg Benchmark Ticker LGCPTRUH
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment GBP 5000
Minimum Subsequent Investment GBP 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Aug 31, 2022 5.05%
Modified Duration as of Aug 31, 2022 6.59 yrs
Effective Duration as of Aug 31, 2022 6.42 yrs
Weighted Avg Maturity as of Aug 31, 2022 7.83 yrs
3y Volatility - Benchmark as of Sep 30, 2022 7.82
3y Beta as of Sep 30, 2022 0.997
5y Volatility - Benchmark as of Sep 30, 2022 6.49
5y Beta as of Sep 30, 2022 0.998
WAL to Worst as of Aug 31, 2022 7.83 yrs

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics 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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Sep 21, 2022 AA
MSCI ESG % Coverage as of Sep 21, 2022 92.31
MSCI ESG Quality Score (0-10) as of Sep 21, 2022 7.92
MSCI ESG Quality Score - Peer Percentile as of Sep 21, 2022 20.83
Fund Lipper Global Classification as of Sep 21, 2022 Bond Global Corporates USD
Funds in Peer Group as of Sep 21, 2022 96
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 21, 2022 176.07
MSCI Weighted Average Carbon Intensity % Coverage as of Sep 21, 2022 84.90
All data is from MSCI ESG Fund Ratings as of Sep 21, 2022, based on holdings as of Apr 30, 2022. 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 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. 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 Aug 31, 2022 0.97%
MSCI - UN Global Compact Violators as of Aug 31, 2022 1.53%
MSCI - Nuclear Weapons as of Aug 31, 2022 0.97%
MSCI - Thermal Coal as of Aug 31, 2022 0.00%
MSCI - Civilian Firearms as of Aug 31, 2022 0.00%
MSCI - Oil Sands as of Aug 31, 2022 0.00%
MSCI - Tobacco as of Aug 31, 2022 1.76%

Business Involvement Coverage as of Aug 31, 2022 92.37%
Percentage of Fund not covered as of Aug 31, 2022 8.67%
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 1.60% and for Oil Sands 0.50%.

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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Aug 31, 2022
Name Weight (%)
BARCLAYS PLC 8 12/31/2049 1.00
IMPERIAL BRANDS FINANCE PLC MTN RegS 1.125 08/14/2023 0.85
CITIGROUP INC 4.412 03/31/2031 0.83
ING GROEP NV MTN RegS 4.7 03/22/2028 0.83
WELLS FARGO & COMPANY MTN 3.35 03/02/2033 0.81
Name Weight (%)
BROADCOM INC 144A 4.926 05/15/2037 0.80
VITERRA FINANCE BV MTN RegS 1 09/24/2028 0.76
LLOYDS BANKING GROUP PLC 4.716 08/11/2026 0.76
TELEFONICA EUROPE BV 23 RegS 3 12/31/2049 0.74
BANK OF AMERICA CORP 3.419 12/20/2028 0.74
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2022

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2022

% 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 52wk High 52wk Low Bid Price ISIN Offer Price TIS
A3 Hgd GBP Monthly 8.86 -0.05 -0.56 11.05 8.81 - LU0816460231 - -
A8 Hgd CNH Monthly 83.95 -0.47 -0.56 106.01 83.58 - LU1220227653 - -
D2 Hgd GBP Accumulating 9.06 -0.05 -0.55 11.10 9.00 - LU1222731728 - -
A3 Hgd NZD Monthly 10.30 -0.06 -0.58 12.78 10.24 - LU0803752475 - -
A8 Hgd NZD Monthly 8.00 -0.04 -0.50 10.06 7.96 - LU1149717313 - -
I2 Hgd EUR Accumulating 8.99 -0.05 -0.55 11.12 8.92 - LU1625162489 - -
A6 USD Monthly 9.18 -0.05 -0.54 11.50 9.13 - LU0788109634 - -
A6 Hgd HKD Monthly 67.88 -0.37 -0.54 85.58 67.53 - LU0788109550 - -
A2 Hgd EUR Accumulating 11.13 -0.07 -0.63 13.85 11.05 - LU0297942434 - -
D5 Hgd GBP Quarterly 8.70 -0.05 -0.57 10.86 8.64 - LU1814255474 - -
A6 Hgd SGD Monthly 8.07 -0.05 -0.62 10.13 8.03 - LU1435395121 - -
E2 Hgd EUR Accumulating 10.36 -0.06 -0.58 12.94 10.29 - LU0307653898 - -
D2 USD Accumulating 13.92 -0.08 -0.57 16.93 13.81 - LU0326960662 - -
A2 USD Accumulating 13.08 -0.07 -0.53 15.98 12.98 - LU0297942194 - -
A4 Hgd EUR Annual 7.43 -0.04 -0.54 9.38 7.38 - LU0303846876 - -
A8 Hgd AUD Monthly 9.08 -0.05 -0.55 11.41 9.03 - LU0871639976 - -
X2 Hgd EUR Accumulating 12.85 -0.07 -0.54 15.82 12.75 - LU0414062249 - -
I2 USD Accumulating 10.73 -0.05 -0.46 13.03 10.64 - LU1181254019 - -
D2 Hgd EUR Accumulating 11.84 -0.06 -0.50 14.66 11.75 - LU0326951752 - -
X4 Hgd GBP Annual 7.92 -0.05 -0.63 9.93 7.87 - LU0414062165 - -
E2 USD Accumulating 12.13 -0.06 -0.49 14.88 12.03 - LU0326961470 - -
A3 Hgd AUD Monthly 10.11 -0.06 -0.59 12.61 10.05 - LU0816460074 - -
A5 USD Quarterly 9.53 -0.05 -0.52 11.80 9.45 - LU0825403933 - -
A3 Hgd CAD Monthly 9.39 -0.05 -0.53 11.66 9.33 - LU0816460157 - -
A2 Hgd SEK Accumulating 89.55 -0.49 -0.54 110.92 88.89 - LU1162516634 - -
I4 Hgd GBP Annual 8.49 -0.04 -0.47 10.60 8.42 - LU1403442228 - -
X2 USD Accumulating 15.07 -0.08 -0.53 18.23 14.95 - LU0434566104 - -
I2 Hgd CAD Accumulating 10.44 -0.06 -0.57 12.72 10.36 - LU1153585614 - -

Listings

Portfolio Managers

Portfolio Managers

Michael Krautzberger
Managing Director, Head of EMEA Fundamental Fixed Income

Michael Krautzberger, CFA, EFFAS, Managing Director. Michael is Head of the Fundamental Pan European Fixed Income team.

Stephan Bassas
Lead Portfolio Manager for US Investment Grade Credit

Stephan Bassas

Tom Mondelaers
Tom Mondelaers

Literature

Literature