Fixed Income

BGF Global High Yield Bond 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.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

Record Date Ex-Date Payable Date
View full table
  From
30-Sep-2015
To
30-Sep-2016
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
Total Return (%)

as of Sep 30, 2020

7.32 6.82 -1.01 3.01 0.06
Benchmark (%)

as of Sep 30, 2020

13.51 9.20 2.11 7.56 2.85
  1Y 3Y 5Y 10y Incept.
0.06 0.67 3.18 4.00 4.91
Benchmark (%)

as of Sep 30, 2020

2.85 4.15 6.96 6.65 7.80
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
-1.84 -1.50 3.57 0.06 2.03 16.96 48.05 129.84
Benchmark (%)

as of Sep 30, 2020

-0.05 -0.98 4.10 2.85 12.96 40.02 90.46 268.98
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 Oct 19, 2020 USD 1,654.028
12m Trailing Yield -
Number of Holdings as of Sep 30, 2020 1563
Base Currency U.S. Dollar
Fund Inception Date Dec 22, 1998
Share Class Inception Date May 16, 2003
Asset Class Fixed Income
Morningstar Category Global High Yield Bond - EUR Hedged
Benchmark Index ICE BofA Global High Yield Constrained (HW0C) 100% USD Hedged Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 1.46%
ISIN LU0093504206
Bloomberg Ticker MEREHYI
Annual Management Fee 1.25%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL 5787546
Bloomberg Benchmark Ticker ML_GHYUSDH
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Sep 30, 2020 5.32%
Modified Duration as of Sep 30, 2020 5.09 yrs
Effective Duration as of Sep 30, 2020 4.35 yrs
Weighted Avg Maturity as of Sep 30, 2020 6.12 yrs
3y Volatility - Benchmark as of Sep 30, 2020 9.45
3y Beta as of Sep 30, 2020 0.952
5y Volatility - Benchmark as of Sep 30, 2020 8.06
5y Beta as of Sep 30, 2020 0.954
WAL to Worst as of Sep 30, 2020 6.12 yrs

Ratings

Ratings

Morningstar Rating

3
Overall Morningstar Rating for BGF Global High Yield Bond Fund, Class A2 Hedged, as of Sep 30, 2020 rated against 486 Global High Yield Bond - EUR Hedged Funds.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Sep 30, 2020
Name Weight (%)
ISHARES $ HIGH YIELD CRP BND ETF $ 1.30
PETROLEOS MEXICANOS 6.375 01/23/2045 0.85
ALLIED UNIVERSAL HOLDCO LLC 144A 6.625 07/15/2026 0.45
PETROBRAS GLOBAL FINANCE BV 5.093 01/15/2030 0.43
ALTICE FRANCE HOLDING SA 144A 10.5 05/15/2027 0.41
Name Weight (%)
VERSCEND ESCROW CORP 144A 9.75 08/15/2026 0.40
CONNECT FINCO SARL 144A 6.75 10/01/2026 0.38
ALTICE FINANCING SA 144A 7.5 05/15/2026 0.37
ALPHA 3 BV 144A 6.25 02/01/2025 0.36
PETROBRAS GLOBAL FINANCE BV 6.85 06/05/2115 0.35
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2020

% of Market Value

Type Fund Benchmark Net
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
A2 Hgd EUR Accumulating 17.39 0.04 0.23 17.63 13.37 - LU0093504206 - -
I3 USD Monthly 10.53 0.02 0.19 10.77 8.19 - LU0764819032 - -
X2 Hgd EUR Accumulating 21.31 0.05 0.24 21.40 16.25 - LU0147394752 - -
C2 Hgd EUR Accumulating 13.58 0.03 0.22 13.88 10.51 - LU0147394596 - -
D2 Hgd GBP Accumulating 20.24 0.04 0.20 20.46 15.48 - LU0372548783 - -
A1 USD Daily 8.03 0.01 0.12 8.21 6.24 - LU0171284770 - -
D2 USD Accumulating 29.48 0.06 0.20 29.53 22.31 - LU0297941899 - -
Class E5 Hedged EUR Quarterly 10.04 0.02 0.20 10.51 7.88 - LU0500207039 - -
D3 Hgd EUR Monthly 5.09 0.01 0.20 5.30 4.01 - LU0827882472 - -
D2 Hgd EUR Accumulating 18.60 0.04 0.22 18.77 14.24 - LU0368267034 - -
E2 EUR Accumulating 20.95 -0.05 -0.24 22.82 17.43 - LU0628613712 - -
C1 Hgd EUR Daily 5.22 0.01 0.19 5.44 4.11 - LU0147394323 - -
D5 Hgd GBP Quarterly 8.88 0.02 0.23 9.33 6.96 - LU1072327023 - -
A6 Hgd SGD Monthly 9.58 0.02 0.21 10.07 7.59 - LU1830001522 - -
A5 EUR Quarterly 10.57 -0.02 -0.19 11.85 8.95 - LU1125545993 - -
E2 Hgd EUR Accumulating 15.63 0.04 0.26 15.89 12.05 - LU0093505864 - -
C2 USD Accumulating 23.35 0.05 0.21 23.44 17.86 - LU0331284447 - -
A1 EUR Daily 5.11 0.01 0.20 5.32 4.02 - LU0118259661 - -
D3 USD Monthly 8.13 0.01 0.12 8.32 6.33 - LU0827882126 - -
A8 Hgd CNH Monthly 104.16 0.23 0.22 107.45 81.45 - LU1919856135 - -
I2 Hgd EUR - 10.78 0.02 0.19 10.87 8.25 - LU1791806000 - -
I2 USD Accumulating 29.74 0.07 0.24 29.78 22.48 - LU0369584726 - -
Class AI2 Hedged EUR - 10.45 0.02 0.22 10.59 8.03 - LU1960223250 - -
X2 USD Accumulating 11.74 0.03 0.26 11.75 8.85 - LU0580566189 - -
A2 Hgd SEK Accumulating 13.79 0.03 0.22 13.95 10.56 - LU0797429023 - -
A2 Hgd PLN Accumulating 14.84 0.04 0.27 15.03 11.38 - LU0849758007 - -
A6 Hgd HKD Monthly 51.64 0.11 0.21 53.62 40.67 - LU0784402520 - -
Class AI5 Hedged EUR - 10.42 0.02 0.22 10.56 8.01 - LU1960223334 - -
A8 Hgd ZAR Monthly 88.86 0.19 0.21 93.35 70.34 - LU1023055319 - -
A2 USD Accumulating 27.46 0.06 0.22 27.52 20.86 - LU0171284937 - -
A6 USD Monthly 6.85 0.02 0.29 7.11 5.40 - LU0764618640 - -
E2 USD Accumulating 24.68 0.05 0.20 24.75 18.80 - LU0171285157 - -
A8 Hgd AUD Monthly 6.57 0.01 0.15 6.92 5.19 - LU0871640040 - -
A2 Hgd GBP Accumulating 19.04 0.04 0.21 19.34 14.63 - LU0567554463 - -
X4 Hgd EUR Annual 8.75 0.02 0.23 9.28 7.05 - LU0984200880 - -
I2 Hgd CAD Accumulating 13.13 0.03 0.23 13.17 10.00 - LU1153585705 - -
A3 Hgd EUR Monthly 5.06 0.01 0.20 5.27 3.98 - LU0172401704 - -
C1 USD Daily 8.23 0.01 0.12 8.42 6.40 - LU0331284363 - -
A3 USD Monthly 8.09 0.02 0.25 8.27 6.29 - LU0172401969 - -

Portfolio Managers

Portfolio Managers

Jimmy Keenan
Managing Director, Chief Investment Officer and Global Co-Head of Credit

Jimmy E. Keenan, CFA, Managing Director, is Chief Investment Officer and Global Co-Head of Credit within BlackRock Alternative Investors (BAI).

Jose Aguilar
Jose Aguilar
David Delbos
Co-Head of US High Yield, Global Credit

David Delbos

Mitchell S. Garfin, CFA
Managing Director, Co-Head of Leveraged Finance

Mitchell Garfin

James Turner
Managing Director

James Turner ACA, is Head of European Leveraged Finance, overseeing investment strategies across European High Yield, Long/Short Credit, CLOs, Leveraged Loans and the European Fundamental Credit Research team.

Literature

Literature