Fixed Income

BGF Global Bond Income Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. Credit risk, changes to interest rates and/or issuer defaults will have a significant impact on the performance of fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Asset backed securities and mortgage backed securities are subject to the same risks described for fixed income securities. These instruments may be subject to 'Liquidity Risk', have high levels of borrowing and may not fully reflect the value of underlying assets. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

This fund does not have any distributions data as of now.
  From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of Dec 31, 2020

- - - 11.94 -5.64
  1Y 3Y 5Y 10y Incept.
-6.73 - - - 3.12
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
0.98 0.98 -0.43 -6.73 - - - 7.77
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 Mar 1, 2021 USD 143.295
12m Trailing Yield -
Number of Holdings as of Jan 29, 2021 680
Base Currency U.S. Dollar
Fund Inception Date Jul 16, 2018
Share Class Inception Date Aug 22, 2018
Asset Class Fixed Income
Morningstar Category -
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.58%
ISIN LU1864663817
Bloomberg Ticker BGBII2E
Annual Management Fee -
Initial Charge -
Performance Fee -
SEDOL BG0NM60
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 Accumulating

Portfolio Characteristics

Portfolio Characteristics

Option Adjusted Spread as of Jan 29, 2021 333.58
LEH Rating Split as of Jan 29, 2021 BB+
Spread Duration as of Jan 29, 2021 4.50

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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. MSCI Ratings are currently unavailable for this fund.

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 Jan 29, 2021 0.00%
MSCI - UN Global Compact Violators as of Jan 29, 2021 1.21%
MSCI - Nuclear Weapons as of Jan 29, 2021 0.00%
MSCI - Thermal Coal as of Jan 29, 2021 0.00%
MSCI - Civilian Firearms as of Jan 29, 2021 0.00%
MSCI - Oil Sands as of Jan 29, 2021 0.00%
MSCI - Tobacco as of Jan 29, 2021 0.00%

Business Involvement Coverage as of Jan 29, 2021 36.36%
Percentage of Fund not covered as of Jan 29, 2021 63.64%
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 0.16% 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

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

Holdings

Holdings

as of Jan 29, 2021
Name Weight (%)
TREASURY BOND 2 02/15/2050 1.20
GLM_20-7A E 144A 0.82
CIFC_13-2A A1LR 144A 0.69
OZLM_15-14A A2AR 144A 0.68
TREASURY BOND 2.375 11/15/2049 0.59
Name Weight (%)
AIB GROUP PLC RegS 6.25 12/31/2049 0.56
NCMS_18-SOX E 144A 0.56
CIFC_17-1A B 144A 0.55
TREASURY (CPI) NOTE 0.125 04/15/2025 0.53
EGYPT (ARAB REPUBLIC OF) 144A 5.25 10/06/2025 0.51
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jan 29, 2021

% of Market Value

Type Fund
as of Jan 29, 2021

% of Market Value

Type Fund
as of Jan 29, 2021

% of Market Value

Type Fund
as of Jan 29, 2021

% of Market Value

Type Fund
as of Jan 29, 2021

% 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
I2 EUR - 9.32 0.06 0.65 10.20 8.62 - LU1864663817 - -
Class D2 CHF Hedged CHF Accumulating 10.47 0.01 0.10 10.51 8.74 - LU1842103712 - -
Class I2 BRL Hedged (USD) USD - 7.59 -0.06 -0.78 9.20 6.44 - LU2008661345 - -
A6 Hgd GBP Monthly 9.61 0.01 0.10 10.08 8.41 - LU1978683255 - -
A6 Hgd NZD Monthly 9.70 0.02 0.21 10.15 8.45 - LU1978683412 - -
A6 Hgd SGD Monthly 9.73 0.01 0.10 10.14 8.47 - LU1978683172 - -
A6 USD Monthly 9.93 0.02 0.20 10.27 8.61 - LU1842103472 - -
I2 USD - 11.30 -0.04 -0.35 11.36 9.30 - LU1864663734 - -
A8 Hgd CNH Monthly 100.30 0.19 0.19 102.44 85.70 - LU1978683685 - -
Class X2 USD USD - - - - - - - LU1842104017 - -
Class D2 USD USD Accumulating 11.26 0.02 0.18 11.30 9.26 - LU1842103555 - -
A6 Hgd HKD Monthly 98.69 0.17 0.17 102.09 85.45 - LU1978682877 - -
Class E2 EUR Hedged EUR - 10.29 0.01 0.10 10.38 8.65 - LU1842103985 - -
I2 Hgd EUR - 10.64 -0.03 -0.28 10.70 8.86 - LU1864663908 - -
D2 EUR Accumulating 9.35 0.08 0.86 9.92 8.58 - LU1864663650 - -
Class D2 EUR Hedged EUR Accumulating 10.56 0.01 0.09 10.60 8.79 - LU1842103639 - -
Class Z2 Hedged CHF - 10.64 0.02 0.19 10.68 8.85 - LU1893598968 - -
Class E5 Hedged EUR Quarterly 9.70 0.01 0.10 10.03 8.29 - LU1864663577 - -
A6 Hgd CAD Monthly 9.75 0.02 0.21 10.17 8.49 - LU1978682950 - -
A2 USD Accumulating 11.12 0.01 0.09 11.17 9.19 - LU1842103399 - -
A6 Hgd AUD Monthly 9.66 0.01 0.10 10.13 8.43 - LU1978683339 - -
Class AI2 Hedged EUR - 10.33 -0.04 -0.39 10.39 8.65 - LU1960222369 - -
Class AI2 EUR - 9.95 0.07 0.71 10.95 9.25 - LU1960222526 - -
Class D2 GBP Hedged GBP Accumulating 10.80 0.01 0.09 10.84 8.96 - LU1842103803 - -
A6 Hgd EUR Monthly 9.48 0.02 0.21 9.99 8.33 - LU1978683099 - -
Class Z2 Hedged EUR - 10.73 0.02 0.19 10.76 8.91 - LU1893598885 - -
Class Z2 USD - 11.35 0.02 0.18 11.39 9.31 - LU1893598703 - -
Class AI5 Hedged EUR Quarterly 9.81 -0.03 -0.30 10.15 8.38 - LU1960222443 - -

Portfolio Managers

Portfolio Managers

Rick Rieder
Chief Investment Officer, Global Fixed Income

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Global Allocation Investment Team in the Multi-Asset Strategies Group, a member of BlackRock's Global Operating Committee and Chairman of the firm-wide BlackRock Investment Council.

Amer Bisat
Amer Bisat
Robert Wuertz
Robert Wuertz

Literature

Literature