Fixed Income

BGF Global Government 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
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  From
31-Mar-2017
To
31-Mar-2018
From
31-Mar-2018
To
31-Mar-2019
From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
Total Return (%)

as of Mar 31, 2022

- - 3.14 2.41 -6.08
  1Y 3Y 5Y 10y Incept.
-8.32 -0.96 - - -0.45
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-8.07 -2.48 -6.53 -8.32 -2.86 - - -1.81
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 May 25, 2022 USD 802.310
12m Trailing Yield as of Apr 30, 2022 1.11
Number of Holdings as of Apr 29, 2022 776
Base Currency U.S. Dollar
Fund Inception Date May 14, 1987
Share Class Inception Date Apr 25, 2018
Asset Class Fixed Income
Morningstar Category -
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.45%
ISIN LU1811366183
Bloomberg Ticker BGGI4EH
Annual Management Fee 0.40%
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL BFM7GM7
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 10000000
Minimum Subsequent Investment EUR 1000
Use of Income Distributing

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 Apr 7, 2022 BBB
MSCI ESG % Coverage as of Apr 7, 2022 78.55
MSCI ESG Quality Score (0-10) as of Apr 7, 2022 5.57
MSCI ESG Quality Score - Peer Percentile as of Apr 7, 2022 26.48
Fund Lipper Global Classification as of Apr 7, 2022 Bond Global USD
Funds in Peer Group as of Apr 7, 2022 355
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Apr 7, 2022 780.93
MSCI Weighted Average Carbon Intensity % Coverage as of Apr 7, 2022 6.11
All data is from MSCI ESG Fund Ratings as of Apr 7, 2022, based on holdings as of Oct 31, 2021. 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 Apr 29, 2022 0.00%
MSCI - UN Global Compact Violators as of Apr 29, 2022 0.42%
MSCI - Nuclear Weapons as of Apr 29, 2022 0.00%
MSCI - Thermal Coal as of Apr 29, 2022 0.00%
MSCI - Civilian Firearms as of Apr 29, 2022 0.00%
MSCI - Oil Sands as of Apr 29, 2022 0.00%
MSCI - Tobacco as of Apr 29, 2022 0.00%

Business Involvement Coverage as of Apr 29, 2022 10.08%
Percentage of Fund not covered as of Apr 29, 2022 92.43%
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 0.08% 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

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Apr 29, 2022
Name Weight (%)
TREASURY NOTE 0.25 06/30/2025 5.59
TREASURY NOTE 0.125 04/30/2023 5.22
FRANCE (REPUBLIC OF) 0 05/25/2022 1.50
FRANCE (REPUBLIC OF) 0 03/25/2025 1.33
JAPAN (GOVERNMENT OF) 5YR #143 0.1 03/20/2025 1.29
Name Weight (%)
SPAIN (KINGDOM OF) 0.4 04/30/2022 1.27
CHARTER COMMUNICATIONS OPERATING L 4.908 07/23/2025 1.20
SPAIN (KINGDOM OF) 0.5 04/30/2030 1.14
JAPAN (GOVERNMENT OF) 20YR #172 0.4 03/20/2040 1.13
TREASURY NOTE 1.5 02/29/2024 1.09
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Apr 29, 2022

% of Market Value

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of Apr 29, 2022

% of Market Value

Type Fund
as of Apr 29, 2022

% of Market Value

Type Fund
Allocations subject to change.
as of Apr 29, 2022

% of Market Value

Type Fund
as of Apr 29, 2022

% of Market Value

Type Fund
as of Apr 29, 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
I4 Hgd EUR Annual 9.40 0.02 0.21 10.63 9.34 - LU1811366183 - -
D3 USD Monthly 20.56 0.04 0.19 22.97 20.42 - LU0827882043 - -
X2 Hgd EUR Accumulating 10.59 0.02 0.19 11.83 10.52 - LU1083813532 - -
D2 USD Accumulating 30.65 0.06 0.20 34.08 30.43 - LU0540001038 - -
D3 Hgd EUR Monthly 17.20 0.04 0.23 19.38 17.09 - LU0827881821 - -
C1 USD Monthly 18.68 0.04 0.21 21.04 18.57 - LU0331285410 - -
X2 Hgd NOK - 104.39 0.22 0.21 115.25 103.58 - LU1806518707 - -
A2 Hgd EUR Accumulating 24.39 0.05 0.21 27.43 24.23 - LU0297942863 - -
A3 Hgd HKD Monthly 96.34 0.20 0.21 107.86 95.71 - LU1484781478 - -
C2 USD Accumulating 21.83 0.04 0.18 24.59 21.70 - LU0147382310 - -
A3 Hgd GBP Monthly 9.35 0.02 0.21 10.46 9.28 - LU1484781395 - -
E2 Hgd EUR Accumulating 21.71 0.04 0.18 24.52 21.58 - LU0297944059 - -
C2 Hgd EUR Accumulating 18.15 0.04 0.22 20.62 18.05 - LU0297943838 - -
X2 Hgd SEK Accumulating 97.92 0.21 0.21 108.94 97.22 - LU1495984053 - -
A1 USD Monthly 20.51 0.05 0.24 22.92 20.37 - LU0118256485 - -
D2 Hgd EUR Accumulating 25.75 0.06 0.23 28.87 25.58 - LU0329591563 - -
E2 USD Accumulating 26.27 0.05 0.19 29.41 26.10 - LU0090845412 - -
I2 USD Accumulating 10.84 0.02 0.18 12.04 10.77 - LU1567964413 - -
X2 USD Accumulating 10.94 0.03 0.27 12.10 10.86 - LU0462857607 - -
A3 USD Monthly 20.54 0.05 0.24 22.94 20.40 - LU0172412149 - -
A2 USD Accumulating 29.39 0.06 0.20 32.77 29.19 - LU0006061385 - -
C1 Hgd EUR Monthly 15.94 0.03 0.19 18.10 15.85 - LU0297940818 - -
C3 USD Monthly 19.89 0.04 0.20 22.16 19.75 - LU0172412495 - -
A3 Hgd EUR Monthly 17.15 0.04 0.23 19.32 17.04 - LU0297943168 - -
A1 Hgd EUR Monthly 17.29 0.04 0.23 19.49 17.18 - LU0297940495 - -

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.

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

Literature

Literature