Fixed Income

BGF Fixed Income Global Opportunities 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.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart
Performance data is not currently available
  1Y 3Y 5Y 10y Incept.
-7.47 -0.87 -0.11 - 1.22
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-7.47 0.27 1.17 -1.31 -7.47 -2.59 -0.53 - 12.70
  From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
Total Return (%)

as of Dec 31, 2022

-2.91 5.18 5.01 0.25 -7.47
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

Net Assets of Fund as of Jan 27, 2023 USD 7,959,926,920
Share Class Inception Date Feb 27, 2013
Fund Inception Date Jan 31, 2007
Share Class Currency EUR
Base Currency USD
Asset Class Fixed Income
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charge 0.06%
Annual Management Fee 0.00%
Performance Fee 0.00%
Minimum Initial Investment EUR 10000000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Flexible Bond - EUR Hedged
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGFIGX2
ISIN LU0278456909
SEDOL B8GC793

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 30, 2022 3051
Standard Deviation (3y) as of Dec 31, 2022 6.08%
Yield to Maturity as of Dec 30, 2022 5.90%
Modified Duration as of Dec 30, 2022 2.85 yrs
Yield to Worst as of Dec 30, 2022 5.87%
Effective Duration as of Dec 30, 2022 2.49 yrs
Weighted Avg Maturity as of Dec 30, 2022 5.97 yrs
WAL to Worst as of Dec 30, 2022 5.97 yrs

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

4 stars
Overall Morningstar Rating for BGF Fixed Income Global Opportunities Fund, Class X2 Hedged, as of Dec 31, 2022 rated against 1021 Global Flexible Bond - EUR Hedged Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Mar 12, 2019)

Risk Indicator

Risk Indicator

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2
3
4
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7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Dec 30, 2022
Name Weight (%)
TREASURY NOTE 2.875 05/15/2032 5.48
TREASURY NOTE 1.25 11/30/2026 5.03
FNMA 30YR UMBS SUPER 2.84
TREASURY BOND 2.875 05/15/2052 2.71
TREASURY (CPI) NOTE 0.625 01/15/2024 1.69
Name Weight (%)
FNMA 30YR 1.64
TREASURY (CPI) NOTE 0.5 04/15/2024 1.53
TREASURY NOTE 2.625 05/31/2027 1.28
TREASURY NOTE 3.25 06/30/2027 0.73
TREASURY NOTE 4 12/15/2025 0.72
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 30, 2022

% of Market Value

Type Fund
Negative weightings may result from specific circumstances (including timing differences between trade and settlement 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.
as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% of Market Value

Type Fund
Allocations subject to change.
as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% 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

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
X2 Hgd EUR Accumulating 11.47 0.00 0.00 Jan 27, 2023 12.07 11.04 LU0278456909 -
D4 Hgd EUR Annual 8.60 0.00 0.00 Jan 27, 2023 9.30 8.30 LU1340096590 -
A2 Hgd EUR Accumulating 9.58 0.00 0.00 Jan 27, 2023 10.21 9.26 LU0278453476 -
X2 Hgd SEK Accumulating 10.80 -0.01 -0.09 Jan 27, 2023 11.32 10.40 LU1153584724 -
I2 Hgd EUR Accumulating 10.71 0.00 0.00 Jan 27, 2023 11.33 10.33 LU0368231436 -
E2 USD Accumulating 13.73 -0.01 -0.07 Jan 27, 2023 14.35 13.18 LU0278469472 -
E2 Hgd EUR Accumulating 8.86 0.00 0.00 Jan 27, 2023 9.48 8.57 LU0278456818 -
I2 Hgd CHF Accumulating 11.11 0.00 0.00 Jan 27, 2023 11.81 10.76 LU1270847004 -
C5 USD Quarterly 9.75 -0.01 -0.10 Jan 27, 2023 10.31 9.40 LU0280466938 -
D5 USD Quarterly 10.29 0.00 0.00 Jan 27, 2023 10.88 9.91 LU0737136415 -
C2 USD Accumulating 12.23 0.00 0.00 Jan 27, 2023 12.87 11.76 LU0278467773 -
D2 Hgd EUR Accumulating 10.34 0.00 0.00 Jan 27, 2023 10.96 9.98 LU0278456651 -
A2 USD Accumulating 14.92 0.00 0.00 Jan 27, 2023 15.51 14.29 LU0278466700 -
A5 Hgd SGD Quarterly 13.89 0.00 0.00 Jan 27, 2023 14.75 13.40 LU0280468637 -
D2 Hgd PLN Accumulating 17.50 0.00 0.00 Jan 27, 2023 17.50 16.58 LU0827879684 -
A2 Hgd SGD Accumulating 21.20 0.00 0.00 Jan 27, 2023 22.13 20.34 LU0278465488 -
A2 Hgd PLN Accumulating 16.62 0.00 0.00 Jan 27, 2023 16.67 15.77 LU0480534915 -
D4 Hgd CAD Annual 9.44 0.00 0.00 Jan 27, 2023 9.99 9.05 LU1270847186 -
Class I3 Hedged CAD Monthly 9.26 0.00 0.00 Jan 27, 2023 9.82 8.93 LU1234671672 -
A5 Hgd EUR Quarterly 6.26 0.00 0.00 Jan 27, 2023 6.79 6.09 LU0280467159 -
A5 USD Quarterly 9.79 0.00 0.00 Jan 27, 2023 10.36 9.43 LU0280465617 -
D4 EUR Annual 12.13 0.02 0.17 Jan 27, 2023 13.45 12.08 LU1085283973 -
D2 USD Accumulating 15.69 0.00 0.00 Jan 27, 2023 16.23 15.01 LU0278469043 -
I2 Hgd JPY Accumulating 1,075.00 0.00 0.00 Jan 27, 2023 1,141.00 1,041.00 LU1005243172 -
D5 Hgd CHF Quarterly 8.46 0.00 0.00 Jan 27, 2023 9.20 8.25 LU1681056062 -
A2 Hgd JPY Accumulating 1,012.00 0.00 0.00 Jan 27, 2023 1,082.00 982.00 LU1005243099 -
A6 USD Monthly 11.16 0.00 0.00 Jan 27, 2023 11.93 10.77 LU1051767835 -
Class AI2 EUR - 10.90 0.02 0.18 Jan 27, 2023 11.93 10.71 LU1960221981 -
I2 Hgd AUD - 10.53 0.00 0.00 Jan 27, 2023 10.99 10.11 LU1786038098 -
D2 Hgd SGD Accumulating 22.30 -0.01 -0.04 Jan 27, 2023 23.17 21.38 LU0827879767 -
A8 Hgd CNH Monthly 88.23 -0.01 -0.01 Jan 27, 2023 96.14 85.96 LU1165523371 -
Class I5 Hedged JPY Quarterly 882.00 -1.00 -0.11 Jan 27, 2023 960.00 861.00 LU1791183194 -
X2 Hgd GBP Accumulating 11.56 0.00 0.00 Jan 27, 2023 12.00 11.09 LU0278465058 -
I5 JPY Quarterly 1,244.00 -4.00 -0.32 Jan 27, 2023 1,397.00 1,145.00 LU1926936912 -
D5 Hgd EUR Quarterly 6.28 0.00 0.00 Jan 27, 2023 6.81 6.10 LU0827879841 -
D2 Hgd GBP Accumulating 11.41 0.00 0.00 Jan 27, 2023 11.91 10.96 LU0278463947 -
Class AI2 Hedged EUR - 9.77 0.00 0.00 Jan 27, 2023 10.41 9.44 LU1960221809 -
A2 Hgd GBP Accumulating 10.37 0.00 0.00 Jan 27, 2023 10.88 9.98 LU1181257202 -
Class S5 USD Quarterly 9.86 0.00 0.00 Jan 27, 2023 10.43 9.49 LU1992159068 -
X3 Hgd EUR Monthly 8.43 0.00 0.00 Jan 27, 2023 9.13 8.19 LU1003077317 -
X2 Hgd CHF Accumulating 11.65 0.00 0.00 Jan 27, 2023 12.32 11.26 LU1263143379 -
C1 USD Monthly 9.78 -0.01 -0.10 Jan 27, 2023 10.35 9.44 LU1003077077 -
Class S2 Hedged EUR - 9.99 0.00 0.00 Jan 27, 2023 10.57 9.64 LU1992159654 -
X2 USD Accumulating 12.39 0.00 0.00 Jan 27, 2023 12.74 11.84 LU0278469985 -
E2 EUR Accumulating 12.64 0.02 0.16 Jan 27, 2023 13.86 12.49 LU1005243685 -
A1 USD Monthly 9.79 0.00 0.00 Jan 27, 2023 10.36 9.44 LU1003076855 -
A1 EUR Monthly 9.01 0.02 0.22 Jan 27, 2023 9.94 8.97 LU1005244220 -
I2 USD Accumulating 12.54 0.00 0.00 Jan 27, 2023 12.96 11.99 LU0986736956 -
A3 USD Monthly 9.80 0.00 0.00 Jan 27, 2023 10.36 9.44 LU1003076939 -
C1 EUR Monthly 9.01 0.02 0.22 Jan 27, 2023 9.94 8.97 LU1005244493 -
J3 USD Monthly 9.81 0.00 0.00 Jan 27, 2023 10.37 9.46 LU1003077150 -
A3 EUR Monthly 9.02 0.02 0.22 Jan 27, 2023 9.94 8.98 LU1005243339 -
Class S4 Hedged EUR Annual 9.27 0.00 0.00 Jan 27, 2023 10.02 8.94 LU1992161049 -
X3 USD Monthly 9.81 0.00 0.00 Jan 27, 2023 10.37 9.46 LU1003077234 -
X2 Hgd AUD Accumulating 12.60 0.00 0.00 Jan 27, 2023 13.08 12.08 LU1093512371 -
D2 EUR Accumulating 14.44 0.03 0.21 Jan 27, 2023 15.77 14.12 LU1005243503 -
I5 USD Quarterly 9.58 0.00 0.00 Jan 27, 2023 10.13 9.23 LU1083819141 -
Class S2 USD - 10.69 0.00 0.00 Jan 27, 2023 11.05 10.23 LU1992160157 -
I2 Hgd GBP Accumulating 11.57 0.00 0.00 Jan 27, 2023 12.06 11.11 LU0999670564 -
Class X5 Hedged EUR Quarterly 8.60 0.00 0.00 Jan 27, 2023 9.32 8.36 LU1685502194 -
A2 Hgd SEK Accumulating 98.73 -0.01 -0.01 Jan 27, 2023 104.66 95.34 LU1121320748 -
C2 EUR Accumulating 11.26 0.02 0.18 Jan 27, 2023 12.37 11.20 LU1005243412 -
D2 Hgd CHF Accumulating 10.37 0.00 0.00 Jan 27, 2023 11.04 10.04 LU0972027022 -
D4 Hgd GBP Annual 4.47 0.00 0.00 Jan 27, 2023 4.76 4.30 LU1294567364 -
A4 Hgd EUR Annual 8.59 -0.01 -0.12 Jan 27, 2023 9.28 8.31 LU0973708182 -
A2 EUR Accumulating 13.73 0.02 0.15 Jan 27, 2023 15.03 13.50 LU1005243255 -
Class I5 Hedged EUR Quarterly 8.32 0.00 0.00 Jan 27, 2023 9.02 8.08 LU1129992308 -
A2 Hgd CHF Accumulating 9.50 0.00 0.00 Jan 27, 2023 10.16 9.21 LU1121327164 -
Class S2 Hedged CHF - 9.88 0.00 0.00 Jan 27, 2023 10.50 9.56 LU1992159902 -
Class I5 GBP Hedged GBP Quarterly 9.42 0.00 0.00 Jan 27, 2023 10.06 9.12 LU1877503935 -
A6 Hgd HKD Monthly 83.32 -0.01 -0.01 Jan 27, 2023 89.81 80.53 LU1051769021 -
A8 Hgd AUD Monthly 8.43 0.00 0.00 Jan 27, 2023 9.08 8.16 LU1165522480 -
A4 USD Annual 9.72 0.00 0.00 Jan 27, 2023 10.25 9.31 LU1153584997 -
I2 Hgd CAD Accumulating 11.55 -0.01 -0.09 Jan 27, 2023 11.97 11.06 LU1136394076 -
X3 Hgd AUD Monthly 9.97 0.00 0.00 Jan 27, 2023 10.66 9.65 LU1003077820 -
Class X5 Hedged GBP Quarterly 8.91 0.00 0.00 Jan 27, 2023 9.52 8.62 LU1165522217 -
X2 Hgd CAD Accumulating 11.79 0.00 0.00 Jan 27, 2023 12.16 11.28 LU1214678283 -

Portfolio Managers

Portfolio Managers

Rick Rieder
Managing Director, CIO of Global Fixed Income, Head of Fundamental Fixed Income, Head of Global Allocation Investment Team

  

Russell Brownback
Managing Director, Head of Global Macro Positioning for Fixed Income

Russell J Brownback, Managing Director, is a portfolio manager and Head of Global Macro Positioning for Fixed Income.

Aidan Doyle
Managing Director, Global Fixed Income Team

  

Bob Miller
Managing Director, Global Fixed Income Group

   

Literature

Literature