Fixed Income

BGF Fixed Income Global Opportunities Fund

  • NAV as of Mar 31, 2023 USD 9.62
    52 WK: 9.44 - 10.11
  • 1 Day NAV Change as of Mar 31, 2023 -0.02 (-0.21%)
  • Morningstar Rating

Overview

Investment Approach

The Fund aims to maximize the return on your investment through a combination of capital growth and income on the Fund’s assets. The Fund invests globally at least 70% of its total assets in fixed income securities. The fixed income securities are denominated in various currencies and may be issued by governments, government agencies, companies and supranationals.
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.

Show Less
Loading

Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart
Share Class performance displayed in  U.S. Dollar. Source: BlackRock. Performance is show on a net asset value basis, with gross income reinvested. Past performance is not a guide to future performance

Distributions

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable Date Total Distribution

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 3.41 -1.00 2.53 4.06 -1.22 7.06 5.81 -0.01 -6.52
  1Y 3Y 5Y 10y Incept.
Total Return (%) -3.67 -0.49 0.86 - 1.57
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
Total Return (%) 0.46 -1.42 0.99 -0.75 -3.67 -1.47 4.38 - 15.45
  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

-1.22 7.06 5.81 -0.01 -6.52
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.

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in USD hedged Share Class Benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund as of Mar 31, 2023 USD 7,739,592,218
Share Class Inception Date Dec 11, 2013
Fund Inception Date Jan 31, 2007
Share Class Currency USD
Base Currency USD
Asset Class Fixed Income
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 1.22%
Annual Management Fee 1.00%
Performance Fee 0.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Flexible Bond - USD Hedged
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGFGA3U
ISIN LU1003076939
SEDOL BH65TV1

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Feb 28, 2023 2798
12m Trailing Yield as of Feb 28, 2023 2.05%
Standard Deviation (3y) as of Feb 28, 2023 6.07%
Yield to Maturity as of Feb 28, 2023 5.85%
Modified Duration as of Feb 28, 2023 2.87 yrs
Yield to Worst as of Feb 28, 2023 5.77%
Effective Duration as of Feb 28, 2023 2.43 yrs
Weighted Avg Maturity as of Feb 28, 2023 6.40 yrs
WAL to Worst as of Feb 28, 2023 6.40 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

3 stars
Overall Morningstar Rating for BGF Fixed Income Global Opportunities Fund, Class A3, as of Feb 28, 2023 rated against 606 Global Flexible Bond - USD 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 Feb 14, 2023)

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Feb 28, 2023
Name Weight (%)
TREASURY NOTE 1.25 11/30/2026 5.07
TREASURY NOTE 2.875 05/15/2032 4.52
UMBS 30YR TBA(REG A) 3.48
TREASURY BOND 2.875 05/15/2052 2.80
FHLMC 30YR UMBS 1.98
Name Weight (%)
TREASURY (CPI) NOTE 0.625 01/15/2024 1.72
TREASURY (CPI) NOTE 0.5 04/15/2024 1.56
FNMA 30YR UMBS SUPER 1.39
FNMA 30YR 1.31
SPAIN (KINGDOM OF) 2.55 10/31/2032 1.30
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 28, 2023

% 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 Feb 28, 2023

% of Market Value

Type Fund
as of Feb 28, 2023

% of Market Value

Type Fund
Allocations subject to change.
as of Feb 28, 2023

% of Market Value

Type Fund
as of Feb 28, 2023

% of Market Value

Type Fund
as of Feb 28, 2023

% 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
A3 USD Monthly 9.62 -0.02 -0.21 Mar 31, 2023 10.11 9.44 LU1003076939 -
D4 Hgd CAD Annual 9.36 0.02 0.21 Mar 31, 2023 9.77 9.05 LU1270847186 -
E2 USD Accumulating 13.59 0.02 0.15 Mar 31, 2023 14.02 13.18 LU0278469472 -
A2 Hgd PLN Accumulating 16.52 0.03 0.18 Mar 31, 2023 16.71 15.77 LU0480534915 -
X2 Hgd SEK Accumulating 10.69 0.02 0.19 Mar 31, 2023 11.08 10.40 LU1153584724 -
A2 Hgd EUR Accumulating 9.45 0.01 0.11 Mar 31, 2023 9.96 9.26 LU0278453476 -
I2 Hgd CHF Accumulating 10.94 0.01 0.09 Mar 31, 2023 11.54 10.76 LU1270847004 -
D2 Hgd EUR Accumulating 10.20 0.01 0.10 Mar 31, 2023 10.70 9.98 LU0278456651 -
D2 Hgd PLN Accumulating 17.41 0.03 0.17 Mar 31, 2023 17.60 16.58 LU0827879684 -
A2 Hgd SGD Accumulating 20.95 0.03 0.14 Mar 31, 2023 21.63 20.34 LU0278465488 -
D5 USD Quarterly 10.11 0.02 0.20 Mar 31, 2023 10.61 9.91 LU0737136415 -
C2 USD Accumulating 12.09 0.02 0.17 Mar 31, 2023 12.57 11.76 LU0278467773 -
I2 Hgd EUR Accumulating 10.57 0.01 0.09 Mar 31, 2023 11.07 10.33 LU0368231436 -
C5 USD Quarterly 9.60 0.02 0.21 Mar 31, 2023 10.06 9.40 LU0280466938 -
A5 Hgd SGD Quarterly 13.62 0.02 0.15 Mar 31, 2023 14.38 13.40 LU0280468637 -
Class I3 Hedged CAD Monthly 9.08 -0.03 -0.33 Mar 31, 2023 9.57 8.93 LU1234671672 -
A5 Hgd EUR Quarterly 6.13 0.01 0.16 Mar 31, 2023 6.61 6.09 LU0280467159 -
E2 Hgd EUR Accumulating 8.73 0.01 0.11 Mar 31, 2023 9.25 8.57 LU0278456818 -
A5 USD Quarterly 9.62 0.01 0.10 Mar 31, 2023 10.10 9.43 LU0280465617 -
A2 USD Accumulating 14.78 0.02 0.14 Mar 31, 2023 15.17 14.29 LU0278466700 -
D4 Hgd EUR Annual 8.49 0.01 0.12 Mar 31, 2023 9.08 8.30 LU1340096590 -
I2 Hgd JPY Accumulating 1,056.00 1.00 0.09 Mar 31, 2023 1,116.00 1,041.00 LU1005243172 -
X2 Hgd GBP Accumulating 11.46 0.02 0.17 Mar 31, 2023 11.75 11.09 LU0278465058 -
D5 Hgd EUR Quarterly 6.14 0.01 0.16 Mar 31, 2023 6.62 6.10 LU0827879841 -
Class AI2 Hedged EUR - 9.64 0.02 0.21 Mar 31, 2023 10.16 9.44 LU1960221809 -
A2 Hgd JPY Accumulating 993.00 1.00 0.10 Mar 31, 2023 1,057.00 982.00 LU1005243099 -
A2 Hgd GBP Accumulating 10.26 0.02 0.20 Mar 31, 2023 10.64 9.98 LU1181257202 -
X2 Hgd CHF Accumulating 11.48 0.02 0.17 Mar 31, 2023 12.05 11.26 LU1263143379 -
I2 Hgd AUD - 10.41 0.02 0.19 Mar 31, 2023 10.75 10.11 LU1786038098 -
D2 USD Accumulating 15.55 0.02 0.13 Mar 31, 2023 15.88 15.01 LU0278469043 -
D2 Hgd GBP Accumulating 11.29 0.01 0.09 Mar 31, 2023 11.66 10.96 LU0278463947 -
X3 Hgd EUR Monthly 8.23 -0.03 -0.36 Mar 31, 2023 8.89 8.19 LU1003077317 -
Class AI2 EUR - 10.77 0.04 0.37 Mar 31, 2023 11.93 10.73 LU1960221981 -
Class I5 Hedged JPY Quarterly 859.00 1.00 0.12 Mar 31, 2023 935.00 857.00 LU1791183194 -
D4 EUR Annual 12.00 0.05 0.42 Mar 31, 2023 13.45 11.95 LU1085283973 -
Class S5 USD Quarterly 9.68 0.01 0.10 Mar 31, 2023 10.16 9.49 LU1992159068 -
D2 Hgd SGD Accumulating 22.07 0.04 0.18 Mar 31, 2023 22.67 21.38 LU0827879767 -
A8 Hgd CNH Monthly 86.52 -0.03 -0.03 Mar 31, 2023 93.29 85.96 LU1165523371 -
D5 Hgd CHF Quarterly 8.25 0.01 0.12 Mar 31, 2023 8.95 8.22 LU1681056062 -
A6 USD Monthly 10.97 -0.01 -0.09 Mar 31, 2023 11.59 10.77 LU1051767835 -
I5 JPY Quarterly 1,252.00 5.00 0.40 Mar 31, 2023 1,397.00 1,200.00 LU1926936912 -
Class S2 Hedged EUR - 9.86 0.02 0.20 Mar 31, 2023 10.33 9.64 LU1992159654 -
E2 EUR Accumulating 12.48 0.05 0.40 Mar 31, 2023 13.86 12.43 LU1005243685 -
J3 USD Monthly 9.63 -0.03 -0.31 Mar 31, 2023 10.12 9.46 LU1003077150 -
A1 USD Monthly 9.63 0.01 0.10 Mar 31, 2023 10.12 9.44 LU1003076855 -
A1 EUR Monthly 8.84 0.03 0.34 Mar 31, 2023 9.94 8.81 LU1005244220 -
A3 EUR Monthly 8.83 0.00 0.00 Mar 31, 2023 9.94 8.83 LU1005243339 -
C1 USD Monthly 9.63 0.01 0.10 Mar 31, 2023 10.10 9.44 LU1003077077 -
X2 USD Accumulating 12.30 0.02 0.16 Mar 31, 2023 12.48 11.84 LU0278469985 -
I2 USD Accumulating 12.44 0.02 0.16 Mar 31, 2023 12.68 11.99 LU0986736956 -
C1 EUR Monthly 8.84 0.03 0.34 Mar 31, 2023 9.94 8.81 LU1005244493 -
X2 Hgd AUD Accumulating 12.47 0.02 0.16 Mar 31, 2023 12.81 12.08 LU1093512371 -
I2 Hgd GBP Accumulating 11.45 0.01 0.09 Mar 31, 2023 11.80 11.11 LU0999670564 -
X2 Hgd EUR Accumulating 11.34 0.02 0.18 Mar 31, 2023 11.80 11.04 LU0278456909 -
Class S2 USD - 10.60 0.01 0.09 Mar 31, 2023 10.82 10.23 LU1992160157 -
A4 Hgd EUR Annual 8.48 0.02 0.24 Mar 31, 2023 9.06 8.31 LU0973708182 -
X3 USD Monthly 9.63 -0.03 -0.31 Mar 31, 2023 10.12 9.46 LU1003077234 -
Class S2 Hedged CHF - 9.73 0.02 0.21 Mar 31, 2023 10.26 9.56 LU1992159902 -
A6 Hgd HKD Monthly 81.60 -0.09 -0.11 Mar 31, 2023 87.21 80.53 LU1051769021 -
D2 Hgd CHF Accumulating 10.21 0.02 0.20 Mar 31, 2023 10.78 10.04 LU0972027022 -
A2 EUR Accumulating 13.57 0.05 0.37 Mar 31, 2023 15.03 13.52 LU1005243255 -
C2 EUR Accumulating 11.10 0.04 0.36 Mar 31, 2023 12.37 11.06 LU1005243412 -
D4 Hgd GBP Annual 4.42 0.00 0.00 Mar 31, 2023 4.66 4.30 LU1294567364 -
I5 USD Quarterly 9.41 0.01 0.11 Mar 31, 2023 9.88 9.23 LU1083819141 -
A2 Hgd CHF Accumulating 9.35 0.02 0.21 Mar 31, 2023 9.92 9.21 LU1121327164 -
D2 EUR Accumulating 14.28 0.06 0.42 Mar 31, 2023 15.77 14.22 LU1005243503 -
Class I5 GBP Hedged GBP Quarterly 9.24 0.01 0.11 Mar 31, 2023 9.81 9.12 LU1877503935 -
Class I5 Hedged EUR Quarterly 8.14 0.02 0.25 Mar 31, 2023 8.77 8.08 LU1129992308 -
Class S4 Hedged EUR Annual 9.15 0.01 0.11 Mar 31, 2023 9.78 8.94 LU1992161049 -
Class X5 Hedged EUR Quarterly 8.41 0.02 0.24 Mar 31, 2023 9.06 8.36 LU1685502194 -
A2 Hgd SEK Accumulating 97.44 0.15 0.15 Mar 31, 2023 102.22 95.34 LU1121320748 -
Class X5 Hedged GBP Quarterly 8.74 0.01 0.11 Mar 31, 2023 9.27 8.62 LU1165522217 -
A8 Hgd AUD Monthly 8.28 0.00 0.00 Mar 31, 2023 8.82 8.16 LU1165522480 -
A4 USD Annual 9.63 0.02 0.21 Mar 31, 2023 10.02 9.31 LU1153584997 -
I2 Hgd CAD Accumulating 11.45 0.02 0.17 Mar 31, 2023 11.71 11.06 LU1136394076 -
X2 Hgd CAD Accumulating 11.70 0.02 0.17 Mar 31, 2023 11.90 11.28 LU1214678283 -
X3 Hgd AUD Monthly 9.76 -0.03 -0.31 Mar 31, 2023 10.38 9.65 LU1003077820 -

Portfolio Managers

Portfolio Managers

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

  

Read More

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. Mr. Rieder is responsible for roughly $2.4 trillion in assets. He is a member of BlackRock’s Executive Sub-Committee on Investments, a member of BlackRock's Global Operating Committee, and Chairman of the firm-wide BlackRock Investment Council.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and member of the Federal Reserve’s Investment Advisory Committee on Financial Markets.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was nominated for Outstanding Portfolio Manager by Morningstar in 2021, was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013. Four of the funds Mr. Rieder manages (Strategic Income Opportunities, Fixed Income Global Opportunities, Total Return, and Strategic Global Bond) have been awarded Gold Medals by Morningstar.

 

From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta.

 

Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program.

 

Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, New Jersey, and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation, and Trustee for the US Olympic Foundation. Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

Russell Brownback
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.

Read More

Russell J Brownback, Managing Director, is a portfolio manager and Head of Global Macro Positioning for Fixed Income. He is also a member of the Fundamental Fixed Income Executive Committee. Prior to joining BlackRock in 2009, Mr. Brownback was a Senior Partner with R3 Capital Partners. From 1992 to 2008, he was with Lehman Brothers, most recently as a Managing Director and proprietary trader/portfolio manager for the Global Principal Strategies team. Previously, he was the head of the firm's Corporate and Emerging Markets bond trading desks.

 

Mr. Brownback earned a BA degree in economics from Hobart College and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. He has been an adjunct professor for both graduate and undergraduate studies at Syracuse University's Whitman School of Business.

Aidan Doyle
Aidan Doyle
Managing Director, Global Fixed Income Team

  

Read More

Aidan Doyle, CFA, Managing Director, is a portfolio manager within the Global Fixed Income Team.

 

Mr. Doyle began his career at BlackRock in 2010 when he joined the Global Bond Team as a portfolio manager. He is responsible for developing macro directional and relative value investment strategies and managing the team's global aggregate and global government bond portfolios.

 

Mr Doyle. has a MSc degree in Finance from the Imperial College London, with a focus on fixed income and derivatives. He earned a BA degree in Economics, with honors, from Trinity College Dublin, with a focus on financial economics.

Literature

Literature