Fixed Income

BGF Sustainable Global Bond Income 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. 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. Derivatives may be 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. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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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  2019 2020 2021 2022 2023
Total Return (%) 6.75

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

  1Y 3Y 5Y 10y Incept.
4.84 - - - 3.66
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-0.66 -1.23 -0.94 5.86 4.84 - - - 6.02
  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

- - - - 6.94
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 May 23, 2024
USD 158,231,030
Fund Inception Date
Jul 16, 2018
Base Currency
USD
SFDR Classification
Article 8
Ongoing Charge
0.06%
Annual Management Fee
0.00%
Minimum Initial Investment
EUR 10000000
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BNG91P3
Share Class Inception Date
Sep 14, 2022
Share Class Currency
EUR
Asset Class
Fixed Income
Initial Charge
0.00%
ISIN
LU2521849021
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
X6EURLX

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Apr 30, 2024
952
Standard Deviation (3y)
as of -
-
Modified Duration
as of Apr 30, 2024
3.61 yrs
Effective Duration
as of Apr 30, 2024
2.97 yrs
WAL to Worst
as of Apr 30, 2024
5.81 yrs
12m Trailing Yield
as of Apr 30, 2024
6.00%
Yield to Maturity
as of Apr 30, 2024
7.06%
Yield to Worst
as of Apr 30, 2024
6.92%
Weighted Avg Maturity
as of Apr 30, 2024
5.81 yrs

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) 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. 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 Apr 30, 2024
0.00%
MSCI - Nuclear Weapons
as of Apr 30, 2024
0.00%
MSCI - Civilian Firearms
as of Apr 30, 2024
0.00%
MSCI - Tobacco
as of Apr 30, 2024
0.00%
MSCI - UN Global Compact Violators
as of Apr 30, 2024
0.00%
MSCI - Thermal Coal
as of Apr 30, 2024
0.00%
MSCI - Oil Sands
as of Apr 30, 2024
0.00%

Business Involvement Coverage
as of Apr 30, 2024
43.31%
Percentage of Fund not covered
as of Apr 30, 2024
57.17%
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 0.00% and for Oil Sands 0.26%.

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 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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Apr 30, 2024
Name Weight (%)
UMBS 30YR TBA(REG A) 9.84
FNMA 30YR UMBS SUPER 0.79
NC5 VOLKSWAGEN INTERNATIONAL FINA RegS 3.5 12/31/2079 0.76
FORVIA SE RegS 3.125 06/15/2026 0.68
FORD MOTOR CREDIT COMPANY LLC MTN 5.125 02/20/2029 0.57
Name Weight (%)
BPCE SA MTN 144A 5.975 01/18/2027 0.52
UBS GROUP AG 144A 6.327 12/22/2027 0.51
NCMS_18-SOX E 144A 0.46
TENNET HOLDING BV RegS 2.995 12/31/2079 0.46
CIFC_14-2RA B1 144A 0.45
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Apr 30, 2024

% of Market Value

Type Fund
as of Apr 30, 2024

% of Market Value

Type Fund
as of Apr 30, 2024

% of Market Value

Type Fund
as of Apr 30, 2024

% of Market Value

Type Fund
as of Apr 30, 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 X6 Hedged EUR 9.82 -0.02 -0.20 May 23, 2024 10.02 9.43 LU2521849021
X6 USD 10.10 -0.01 -0.10 May 23, 2024 10.24 9.97 LU2716750034
A6 Hgd HKD 81.81 -0.11 -0.13 May 23, 2024 83.79 78.74 LU1978682877
Class X10 USD 10.04 -0.01 -0.10 May 23, 2024 10.24 9.91 LU2716749960
I2 USD 11.54 -0.02 -0.17 May 23, 2024 11.57 10.62 LU1864663734
Class E2 EUR Hedged EUR 9.52 -0.01 -0.10 May 23, 2024 9.55 8.91 LU1842103985
Class Z2 Hedged CHF 9.91 -0.01 -0.10 May 23, 2024 9.98 9.34 LU1893598968
Class A10 USD 10.15 -0.01 -0.10 May 23, 2024 10.40 10.00 LU2708803049
Class ZI2 Hedged EUR 10.97 -0.02 -0.18 May 23, 2024 11.00 10.19 LU2533725672
D2 EUR 10.54 -0.02 -0.19 May 23, 2024 10.63 9.57 LU1864663650
Class ZI2 USD 11.38 -0.01 -0.09 May 23, 2024 11.41 10.46 LU2533725755
Class A3G USD 10.13 -0.01 -0.10 May 23, 2024 10.32 9.70 LU2620702121
A2 USD 11.10 -0.02 -0.18 May 23, 2024 11.13 10.25 LU1842103399
A8 Hgd CNH 84.74 -0.12 -0.14 May 23, 2024 86.10 80.78 LU1978683685
Class D2 EUR Hedged EUR 10.08 -0.01 -0.10 May 23, 2024 10.10 9.38 LU1842103639
I2 Hgd EUR 10.24 -0.01 -0.10 May 23, 2024 10.27 9.52 LU1864663908
A6 Hgd AUD 7.93 -0.02 -0.25 May 23, 2024 8.13 7.66 LU1978683339
I2 EUR 10.65 -0.01 -0.09 May 23, 2024 10.74 9.65 LU1864663817
Class E5 Hedged EUR 8.14 -0.01 -0.12 May 23, 2024 8.28 7.78 LU1864663577
A6 Hgd NZD 8.21 -0.01 -0.12 May 23, 2024 8.36 7.86 LU1978683412
Class I2 BRL Hedged (USD) USD 10.20 -0.01 -0.10 May 23, 2024 10.61 9.09 LU2008661345
Class A10 Hedged HKD 98.30 -0.13 -0.13 May 23, 2024 100.57 97.21 LU2725777572
Class D2 CHF Hedged CHF 9.67 -0.02 -0.21 May 23, 2024 9.75 9.13 LU1842103712
Class Z2 USD 11.61 -0.02 -0.17 May 23, 2024 11.64 10.67 LU1893598703
A6 USD 8.47 -0.01 -0.12 May 23, 2024 8.63 8.10 LU1842103472
A6 Hgd GBP 8.03 -0.01 -0.12 May 23, 2024 8.19 7.70 LU1978683255
Class X10 Hedged HKD 98.78 -0.13 -0.13 May 23, 2024 100.67 97.61 LU2728924072
Class D2 GBP Hedged GBP 10.73 -0.01 -0.09 May 23, 2024 10.76 9.91 LU1842103803
A6 Hgd SGD 8.07 -0.02 -0.25 May 23, 2024 8.28 7.81 LU1978683172
Class Z2 Hedged EUR 10.33 -0.01 -0.10 May 23, 2024 10.36 9.60 LU1893598885
Class AI2 Hedged EUR 9.73 -0.01 -0.10 May 23, 2024 9.75 9.08 LU1960222369
A6 Hgd CAD 8.20 -0.01 -0.12 May 23, 2024 8.38 7.88 LU1978682950
Class X2 USD USD 11.88 -0.02 -0.17 May 23, 2024 11.91 10.88 LU1842104017
Class A10 Hedged SGD 9.84 -0.01 -0.10 May 23, 2024 10.04 9.73 LU2723611187
A6 Hgd EUR 7.61 -0.01 -0.13 May 23, 2024 7.80 7.35 LU1978683099
Class AI2 EUR 11.13 -0.01 -0.09 May 23, 2024 11.22 10.14 LU1960222526
Class AI5 Hedged EUR 8.24 -0.01 -0.12 May 23, 2024 8.39 7.87 LU1960222443
Class D2 USD USD 11.42 -0.02 -0.17 May 23, 2024 11.45 10.52 LU1842103555
Class I6 Hedged EUR 8.60 -0.01 -0.12 May 23, 2024 8.79 8.28 LU2407028278

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.

Amer Bisat
Managing Director, Head of Emerging Markets Fixed Income

Amer Bisat, PhD., Managing Director, is Head of Emerging Markets (EM) Fixed Income and a member of the Fundamental-GFI Executive Committee.

Charlotte Widjaja
Charlotte Widjaja

Literature

Literature