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.

Loading

Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart

Distributions

Ex-Date Total Distribution
View full table

  2018 2019 2020 2021 2022
Total Return (%) 4.48 -0.32 -8.04

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

  1Y 3Y 5Y 10y Incept.
-1.32 -1.73 - - -0.27
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
0.74 -0.46 0.52 0.63 -1.32 -5.10 - - -1.15
  From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
Total Return (%)

as of Jun 30, 2023

- 0.35 5.50 -7.09 -1.29
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 Oct 3, 2023 USD 6,998,609,438
Share Class Inception Date May 29, 2019
Fund Inception Date Jan 31, 2007
Share Class Currency EUR
Base Currency USD
Asset Class Fixed Income
SFDR Classification Other
Initial Charge -
Ongoing Charge 0.62%
ISIN LU1992161049
Annual Management Fee -
Performance Fee -
Minimum Initial Investment EUR 50000000
Minimum Subsequent Investment EUR 1000
Distribution Frequency Annual
Use of Income Distributing
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 BGFXS4E
SEDOL BK5XLZ5

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Aug 31, 2023 2756
12m Trailing Yield as of Sep 30, 2023 3.61%
Standard Deviation (3y) as of Aug 31, 2023 3.39%
Yield to Maturity as of Aug 31, 2023 6.62%
Modified Duration as of Aug 31, 2023 3.99 yrs
Yield to Worst as of Aug 31, 2023 6.63%
Effective Duration as of Aug 31, 2023 3.42 yrs
Weighted Avg Maturity as of Aug 31, 2023 6.91 yrs
WAL to Worst as of Aug 31, 2023 6.91 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

4 stars
Overall Morningstar Rating for BGF Fixed Income Global Opportunities Fund, Class S4 Hedged, as of Jan 31, 2023 rated against 1030 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 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 Aug 31, 2023
Name Weight (%)
UMBS 30YR TBA(REG A) 13.20
TREASURY NOTE 2.875 05/15/2032 4.84
TREASURY BOND 2.875 05/15/2052 2.87
TREASURY NOTE 1.25 11/30/2026 2.05
TREASURY (CPI) NOTE 0.625 01/15/2024 1.91
Name Weight (%)
TREASURY (CPI) NOTE 0.5 04/15/2024 1.72
SPAIN (KINGDOM OF) 2.55 10/31/2032 1.49
TREASURY NOTE 2.625 05/31/2027 1.40
FNMA 30YR UMBS SUPER 1.40
SPAIN (KINGDOM OF) 3.15 04/30/2033 1.31
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Aug 31, 2023

% of Market Value

Type Fund
¹Allocations are subject to change. Source: BlackRock
as of Aug 31, 2023

% of Market Value

Type Fund
as of Aug 31, 2023

% of Market Value

Type Fund
Allocations subject to change.
as of Aug 31, 2023

% of Market Value

Type Fund
as of Aug 31, 2023

% of Market Value

Type Fund
as of Aug 31, 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
Class S4 Hedged EUR Annual 8.74 -0.03 -0.34 Oct 3, 2023 9.31 8.74 LU1992161049
I2 Hgd CHF Accumulating 10.72 -0.04 -0.37 Oct 3, 2023 11.16 10.72 LU1270847004
A5 Hgd SGD Quarterly 13.26 -0.05 -0.38 Oct 3, 2023 13.96 13.26 LU0280468637
A2 Hgd SGD Accumulating 20.73 -0.07 -0.34 Oct 3, 2023 21.30 20.34 LU0278465488
A2 Hgd EUR Accumulating 9.32 -0.04 -0.43 Oct 3, 2023 9.63 9.26 LU0278453476
A2 USD Accumulating 14.74 -0.05 -0.34 Oct 3, 2023 15.00 14.29 LU0278466700
Class I3 Hedged CAD Monthly 8.89 -0.03 -0.34 Oct 3, 2023 9.28 8.89 LU1234671672
D4 Hgd EUR Annual 8.12 -0.03 -0.37 Oct 3, 2023 8.64 8.12 LU1340096590
E2 USD Accumulating 13.52 -0.05 -0.37 Oct 3, 2023 13.81 13.18 LU0278469472
D5 USD Quarterly 9.93 -0.03 -0.30 Oct 3, 2023 10.34 9.91 LU0737136415
D2 Hgd PLN Accumulating 17.54 -0.06 -0.34 Oct 3, 2023 17.77 16.58 LU0827879684
E2 Hgd EUR Accumulating 8.59 -0.03 -0.35 Oct 3, 2023 8.90 8.57 LU0278456818
Class A3G USD Monthly 9.82 -0.04 -0.41 Oct 3, 2023 10.08 9.82 LU2621334601
I2 Hgd EUR Accumulating 10.47 -0.03 -0.29 Oct 3, 2023 10.76 10.33 LU0368231436
Class I5 Hedged JPY Quarterly 818.00 -4.00 -0.49 Oct 3, 2023 886.00 818.00 LU1791183194
D2 Hgd EUR Accumulating 10.09 -0.04 -0.39 Oct 3, 2023 10.39 9.98 LU0278456651
A2 Hgd JPY Accumulating 962.00 -3.00 -0.31 Oct 3, 2023 1,016.00 962.00 LU1005243099
D4 EUR Annual 12.07 0.02 0.17 Oct 3, 2023 13.12 11.78 LU1085283973
D2 USD Accumulating 15.55 -0.05 -0.32 Oct 3, 2023 15.79 15.01 LU0278469043
D5 Hgd EUR Quarterly 5.97 -0.02 -0.33 Oct 3, 2023 6.31 5.97 LU0827879841
D5 Hgd CHF Quarterly 7.93 -0.03 -0.38 Oct 3, 2023 8.50 7.93 LU1681056062
X2 Hgd CHF Accumulating 11.27 -0.04 -0.35 Oct 3, 2023 11.70 11.26 LU1263143379
A5 USD Quarterly 9.45 -0.03 -0.32 Oct 3, 2023 9.84 9.43 LU0280465617
X2 Hgd SEK Accumulating 10.60 -0.04 -0.38 Oct 3, 2023 10.86 10.40 LU1153584724
A6 USD Monthly 10.73 -0.04 -0.37 Oct 3, 2023 11.19 10.73 LU1051767835
Class AI2 EUR - 11.18 0.02 0.18 Oct 3, 2023 11.81 10.56 LU1960221981
Class AI2 Hedged EUR - 9.51 -0.03 -0.31 Oct 3, 2023 9.82 9.44 LU1960221809
A2 Hgd GBP Accumulating 10.19 -0.04 -0.39 Oct 3, 2023 10.42 9.98 LU1181257202
D2 Hgd SGD Accumulating 21.88 -0.08 -0.36 Oct 3, 2023 22.42 21.38 LU0827879767
D2 Hgd GBP Accumulating 11.25 -0.04 -0.35 Oct 3, 2023 11.47 10.96 LU0278463947
C5 USD Quarterly 9.42 -0.04 -0.42 Oct 3, 2023 9.80 9.40 LU0280466938
X2 Hgd GBP Accumulating 11.45 -0.04 -0.35 Oct 3, 2023 11.62 11.09 LU0278465058
A8 Hgd CNH Monthly 84.16 -0.30 -0.36 Oct 3, 2023 88.49 84.16 LU1165523371
I5 JPY Quarterly 1,386.00 -3.00 -0.22 Oct 3, 2023 1,397.00 1,221.00 LU1926936912
I2 Hgd JPY Accumulating 1,026.00 -4.00 -0.39 Oct 3, 2023 1,080.00 1,026.00 LU1005243172
A1 EUR Monthly 9.04 0.02 0.22 Oct 3, 2023 9.83 8.59 LU1005244220
I2 Hgd AUD - 10.34 -0.04 -0.39 Oct 3, 2023 10.58 10.11 LU1786038098
J3 USD Monthly 9.46 -0.04 -0.42 Oct 3, 2023 9.83 9.46 LU1003077150
Class S2 Hedged EUR - 9.76 -0.03 -0.31 Oct 3, 2023 10.03 9.64 LU1992159654
C1 USD Monthly 9.46 -0.03 -0.32 Oct 3, 2023 9.83 9.44 LU1003077077
A3 USD Monthly 9.45 -0.04 -0.42 Oct 3, 2023 9.82 9.44 LU1003076939
I2 USD Accumulating 12.45 -0.04 -0.32 Oct 3, 2023 12.63 11.99 LU0986736956
C1 EUR Monthly 9.04 0.02 0.22 Oct 3, 2023 9.83 8.59 LU1005244493
D4 Hgd CAD Annual 9.01 -0.03 -0.33 Oct 3, 2023 9.49 9.01 LU1270847186
X2 USD Accumulating 12.34 -0.04 -0.32 Oct 3, 2023 12.52 11.84 LU0278469985
C2 USD Accumulating 11.98 -0.04 -0.33 Oct 3, 2023 12.29 11.76 LU0278467773
A2 Hgd PLN Accumulating 16.60 -0.06 -0.36 Oct 3, 2023 16.83 15.77 LU0480534915
E2 EUR Accumulating 12.93 0.03 0.23 Oct 3, 2023 13.71 12.22 LU1005243685
X3 Hgd EUR Monthly 8.00 -0.03 -0.37 Oct 3, 2023 8.44 8.00 LU1003077317
Class S5 USD Quarterly 9.51 -0.03 -0.31 Oct 3, 2023 9.91 9.49 LU1992159068
A5 Hgd EUR Quarterly 5.95 -0.03 -0.50 Oct 3, 2023 6.29 5.95 LU0280467159
A2 EUR Accumulating 14.09 0.03 0.21 Oct 3, 2023 14.88 13.31 LU1005243255
Class I5 GBP Hedged GBP Quarterly 9.04 -0.03 -0.33 Oct 3, 2023 9.47 9.04 LU1877503935
Class I5 Hedged EUR Quarterly 7.90 -0.03 -0.38 Oct 3, 2023 8.36 7.90 LU1129992308
A2 Hgd SEK Accumulating 96.11 -0.35 -0.36 Oct 3, 2023 99.21 95.34 LU1121320748
I2 Hgd GBP Accumulating 11.42 -0.04 -0.35 Oct 3, 2023 11.63 11.11 LU0999670564
D2 Hgd CHF Accumulating 9.99 -0.04 -0.40 Oct 3, 2023 10.42 9.99 LU0972027022
I5 USD Quarterly 9.24 -0.03 -0.32 Oct 3, 2023 9.63 9.23 LU1083819141
X2 Hgd EUR Accumulating 11.22 -0.04 -0.36 Oct 3, 2023 11.52 11.04 LU0278456909
A6 Hgd HKD Monthly 79.28 -0.28 -0.35 Oct 3, 2023 83.54 79.28 LU1051769021
D4 Hgd GBP Annual 4.26 -0.02 -0.47 Oct 3, 2023 4.49 4.26 LU1294567364
C2 EUR Accumulating 11.45 0.02 0.17 Oct 3, 2023 12.24 10.85 LU1005243412
A1 USD Monthly 9.46 -0.03 -0.32 Oct 3, 2023 9.83 9.44 LU1003076855
A2 Hgd CHF Accumulating 9.12 -0.04 -0.44 Oct 3, 2023 9.54 9.12 LU1121327164
A4 Hgd EUR Annual 8.12 -0.03 -0.37 Oct 3, 2023 8.64 8.12 LU0973708182
A3 EUR Monthly 9.03 0.01 0.11 Oct 3, 2023 9.82 8.59 LU1005243339
D2 EUR Accumulating 14.86 0.03 0.20 Oct 3, 2023 15.62 14.03 LU1005243503
X2 Hgd AUD Accumulating 12.42 -0.04 -0.32 Oct 3, 2023 12.66 12.08 LU1093512371
X3 USD Monthly 9.46 -0.04 -0.42 Oct 3, 2023 9.83 9.46 LU1003077234
Class S2 Hedged CHF - 9.53 -0.03 -0.31 Oct 3, 2023 9.93 9.53 LU1992159902
Class S2 USD - 10.61 -0.03 -0.28 Oct 3, 2023 10.77 10.23 LU1992160157
Class X5 Hedged GBP Quarterly 8.55 -0.03 -0.35 Oct 3, 2023 8.96 8.55 LU1165522217
A8 Hgd AUD Monthly 8.09 -0.03 -0.37 Oct 3, 2023 8.45 8.09 LU1165522480
X2 Hgd CAD Accumulating 11.69 -0.04 -0.34 Oct 3, 2023 11.87 11.28 LU1214678283
X3 Hgd AUD Monthly 9.52 -0.03 -0.31 Oct 3, 2023 9.99 9.52 LU1003077820
I2 Hgd CAD Accumulating 11.42 -0.04 -0.35 Oct 3, 2023 11.62 11.06 LU1136394076
Class X5 Hedged EUR Quarterly 8.17 -0.03 -0.37 Oct 3, 2023 8.64 8.17 LU1685502194
A4 USD Annual 9.33 -0.03 -0.32 Oct 3, 2023 9.77 9.31 LU1153584997

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

  

Literature

Literature