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

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Distributions

Ex-Date Total Distribution
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  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -0.82 1.76 2.75 -3.34 4.51 4.57 -0.28 -7.94 4.84

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1Y 3Y 5Y 10y Incept.
4.48 -1.42 0.57 - 0.65
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-0.13 0.99 0.35 2.64 4.48 -4.20 2.90 - 6.42
  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of Mar 31, 2024

-4.38 11.97 -3.17 -4.45 4.73
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 EUR, 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 Jun 14, 2024
USD 6,617,151,405
Fund Inception Date
Jan 31, 2007
Base Currency
USD
SFDR Classification
Other
Ongoing Charge
0.54%
Annual Management Fee
0.50%
Minimum Initial Investment
EUR 10000000
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Global Flexible Bond - EUR Hedged
Dealing Frequency
Daily, forward pricing basis
SEDOL
BRWQZK9
Share Class Inception Date
Oct 29, 2014
Share Class Currency
EUR
Asset Class
Fixed Income
Initial Charge
0.00%
ISIN
LU1129992308
Performance Fee
0.00%
Minimum Subsequent Investment
EUR 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGFII5E

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of May 31, 2024
3456
Standard Deviation (3y)
as of May 31, 2024
4.06%
Modified Duration
as of May 31, 2024
4.25 yrs
Effective Duration
as of May 31, 2024
3.64 yrs
WAL to Worst
as of May 31, 2024
7.63 yrs
12m Trailing Yield
as of May 31, 2024
3.51%
Yield to Maturity
as of May 31, 2024
5.99%
Yield to Worst
as of May 31, 2024
5.91%
Weighted Avg Maturity
as of May 31, 2024
7.63 yrs

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, 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 I5 Hedged, as of May 31, 2024 rated against 1080 Global Flexible Bond - EUR Hedged Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Feb 13, 2024)

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of May 31, 2024
Name Weight (%)
UMBS 30YR TBA(REG A) 19.05
TREASURY BOND 2.875 05/15/2052 2.32
FNMA 30YR UMBS SUPER 1.12
SPAIN (KINGDOM OF) 2.55 10/31/2032 0.46
INDIA (REPUBLIC OF) 7.37 10/23/2028 0.45
Name Weight (%)
TREASURY NOTE 5 09/30/2025 0.45
TREASURY NOTE 4.5 11/15/2025 0.44
TREASURY NOTE 3.25 06/30/2029 0.42
TREASURY BOND 3.25 05/15/2042 0.42
FNMA 30YR UMBS 0.41
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of May 31, 2024

% of Market Value

Type Fund
¹Allocations are subject to change. Source: BlackRock
as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 2024

% of Market Value

Type Fund
Allocations subject to change.
as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 2024

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class I5 Hedged EUR 8.27 0.01 0.12 Jun 14, 2024 8.30 7.85 LU1129992308
C2 USD 12.72 0.00 0.00 Jun 14, 2024 12.72 11.91 LU0278467773
A5 Hgd SGD 13.84 0.01 0.07 Jun 14, 2024 13.92 13.18 LU0280468637
E2 USD 14.44 0.01 0.07 Jun 14, 2024 14.44 13.45 LU0278469472
C5 USD 9.94 0.01 0.10 Jun 14, 2024 9.94 9.37 LU0280466938
D5 USD 10.51 0.01 0.10 Jun 14, 2024 10.51 9.87 LU0737136415
A2 Hgd SGD 21.92 0.02 0.09 Jun 14, 2024 21.92 20.59 LU0278465488
D2 Hgd PLN 18.86 0.02 0.11 Jun 14, 2024 18.86 17.45 LU0827879684
A2 Hgd EUR 9.87 0.01 0.10 Jun 14, 2024 9.87 9.27 LU0278453476
I2 Hgd CHF 11.20 0.00 0.00 Jun 14, 2024 11.26 10.64 LU1270847004
D4 Hgd CAD 9.64 0.01 0.10 Jun 14, 2024 9.64 8.96 LU1270847186
A5 USD 9.99 0.00 0.00 Jun 14, 2024 9.99 9.40 LU0280465617
E2 Hgd EUR 9.06 0.01 0.11 Jun 14, 2024 9.06 8.53 LU0278456818
D4 Hgd EUR 8.62 0.01 0.12 Jun 14, 2024 8.62 8.07 LU1340096590
I2 Hgd EUR 11.13 0.01 0.09 Jun 14, 2024 11.13 10.40 LU0368231436
A2 Hgd PLN 17.79 0.02 0.11 Jun 14, 2024 17.79 16.52 LU0480534915
A5 Hgd EUR 6.22 0.01 0.16 Jun 14, 2024 6.25 5.92 LU0280467159
Class I3 Hedged CAD 9.30 0.01 0.11 Jun 14, 2024 9.36 8.84 LU1234671672
D2 Hgd EUR 10.72 0.01 0.09 Jun 14, 2024 10.72 10.03 LU0278456651
A2 USD 15.79 0.01 0.06 Jun 14, 2024 15.79 14.66 LU0278466700
X2 Hgd SEK 11.30 0.01 0.09 Jun 14, 2024 11.30 10.54 LU1153584724
I2 Hgd AUD 11.01 0.00 0.00 Jun 14, 2024 11.01 10.27 LU1786038098
I2 Hgd JPY 1,060.00 1.00 0.09 Jun 14, 2024 1,073.00 1,018.00 LU1005243172
X2 Hgd CHF 11.82 0.01 0.08 Jun 14, 2024 11.84 11.19 LU1263143379
Class A3G USD 10.24 0.01 0.10 Jun 14, 2024 10.34 9.77 LU2621334601
D2 USD 16.72 0.02 0.12 Jun 14, 2024 16.72 15.47 LU0278469043
D4 EUR 12.73 0.15 1.19 Jun 14, 2024 12.73 11.78 LU1085283973
A2 Hgd JPY 988.00 0.00 0.00 Jun 14, 2024 1,004.00 954.00 LU1005243099
D5 Hgd CHF 8.15 0.00 0.00 Jun 14, 2024 8.27 7.87 LU1681056062
D5 Hgd EUR 6.24 0.01 0.16 Jun 14, 2024 6.26 5.93 LU0827879841
Class I5 Hedged JPY 831.00 0.00 0.00 Jun 14, 2024 855.00 812.00 LU1791183194
Class AI2 Hedged EUR 10.06 0.01 0.10 Jun 14, 2024 10.06 9.45 LU1960221809
D2 Hgd GBP 12.05 0.01 0.08 Jun 14, 2024 12.05 11.19 LU0278463947
D2 Hgd SGD 23.22 0.02 0.09 Jun 14, 2024 23.22 21.75 LU0827879767
Class AI2 EUR 11.75 0.14 1.21 Jun 14, 2024 11.75 10.56 LU1960221981
A8 Hgd CNH 87.75 0.04 0.05 Jun 14, 2024 88.52 83.67 LU1165523371
A2 Hgd GBP 10.88 0.01 0.09 Jun 14, 2024 10.88 10.13 LU1181257202
A6 USD 11.18 0.01 0.09 Jun 14, 2024 11.29 10.67 LU1051767835
X2 Hgd GBP 12.35 0.01 0.08 Jun 14, 2024 12.35 11.39 LU0278465058
X3 Hgd EUR 8.26 0.01 0.12 Jun 14, 2024 8.40 7.96 LU1003077317
Class S5 USD 10.06 0.00 0.00 Jun 14, 2024 10.06 9.46 LU1992159068
Class S2 Hedged EUR 10.37 0.01 0.10 Jun 14, 2024 10.37 9.70 LU1992159654
J3 USD 9.95 0.01 0.10 Jun 14, 2024 9.99 9.42 LU1003077150
A1 EUR 9.31 0.11 1.20 Jun 14, 2024 9.31 8.59 LU1005244220
C1 EUR 9.31 0.11 1.20 Jun 14, 2024 9.31 8.59 LU1005244493
I5 JPY 1,539.00 2.00 0.13 Jun 14, 2024 1,539.00 1,301.00 LU1926936912
I2 USD 13.39 0.01 0.07 Jun 14, 2024 13.39 12.38 LU0986736956
E2 EUR 13.53 0.16 1.20 Jun 14, 2024 13.53 12.22 LU1005243685
C1 USD 9.93 0.00 0.00 Jun 14, 2024 9.97 9.39 LU1003077077
A3 USD 9.93 0.00 0.00 Jun 14, 2024 9.97 9.40 LU1003076939
X2 USD 13.33 0.01 0.08 Jun 14, 2024 13.33 12.28 LU0278469985
X2 Hgd SGD 10.14 0.01 0.10 Jun 14, 2024 10.14 9.93 LU2728923777
A1 USD 9.93 0.00 0.00 Jun 14, 2024 9.97 9.40 LU1003076855
Class S2 Hedged CHF 9.95 0.00 0.00 Jun 14, 2024 10.00 9.46 LU1992159902
A2 EUR 14.80 0.17 1.16 Jun 14, 2024 14.80 13.31 LU1005243255
C2 EUR 11.92 0.13 1.10 Jun 14, 2024 11.92 10.85 LU1005243412
Class X10 Hedged SGD 9.93 0.01 0.10 Jun 14, 2024 10.05 9.78 LU2728923694
D2 EUR 15.67 0.18 1.16 Jun 14, 2024 15.67 14.03 LU1005243503
Class I5 GBP Hedged GBP 9.54 0.01 0.10 Jun 14, 2024 9.55 8.99 LU1877503935
Class S2 USD 11.41 0.01 0.09 Jun 14, 2024 11.41 10.55 LU1992160157
A3 EUR 9.31 0.11 1.20 Jun 14, 2024 9.31 8.59 LU1005243339
X3 USD 9.95 0.01 0.10 Jun 14, 2024 9.99 9.42 LU1003077234
A4 Hgd EUR 8.60 0.01 0.12 Jun 14, 2024 8.60 8.07 LU0973708182
I5 USD 9.78 0.00 0.00 Jun 14, 2024 9.78 9.19 LU1083819141
Class X10 USD 9.99 0.01 0.10 Jun 14, 2024 10.08 9.83 LU2736587853
A6 Hgd HKD 81.96 0.06 0.07 Jun 14, 2024 83.28 78.80 LU1051769021
D2 Hgd CHF 10.43 0.00 0.00 Jun 14, 2024 10.49 9.92 LU0972027022
D4 Hgd GBP 4.56 0.00 0.00 Jun 14, 2024 4.56 4.24 LU1294567364
X2 Hgd AUD 13.27 0.01 0.08 Jun 14, 2024 13.27 12.34 LU1093512371
X3 Hgd SGD 9.98 0.01 0.10 Jun 14, 2024 10.05 9.82 LU2728923850
I2 Hgd GBP 12.25 0.01 0.08 Jun 14, 2024 12.25 11.36 LU0999670564
Class S4 Hedged EUR 9.29 0.01 0.11 Jun 14, 2024 9.29 8.69 LU1992161049
X2 Hgd CAD 12.57 0.01 0.08 Jun 14, 2024 12.57 11.63 LU1214678283
A2 Hgd CHF 9.49 0.00 0.00 Jun 14, 2024 9.57 9.06 LU1121327164
X3 Hgd AUD 9.91 0.01 0.10 Jun 14, 2024 10.01 9.46 LU1003077820
A2 Hgd SEK 101.54 0.07 0.07 Jun 14, 2024 101.54 95.52 LU1121320748
I2 Hgd CAD 12.23 0.01 0.08 Jun 14, 2024 12.23 11.36 LU1136394076
A4 USD 9.99 0.00 0.00 Jun 14, 2024 9.99 9.28 LU1153584997
A8 Hgd AUD 8.43 0.00 0.00 Jun 14, 2024 8.50 8.04 LU1165522480
Class X5 Hedged EUR 8.55 0.01 0.12 Jun 14, 2024 8.59 8.12 LU1685502194
X2 Hgd EUR 11.98 0.01 0.08 Jun 14, 2024 11.98 11.17 LU0278456909
Class A10 USD 10.11 0.00 0.00 Jun 14, 2024 10.35 9.97 LU2708802827
Class X5 Hedged GBP 9.03 0.01 0.11 Jun 14, 2024 9.04 8.50 LU1165522217

Portfolio Managers

Portfolio Managers

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

Rick Rieder, Senior 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.

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

  

Literature

Literature