Fixed Income

BGF Global Inflation Linked 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.

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

Chart

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -5.6 8.2 -1.7 8.8 2.9 0.1 6.1 5.7 4.2 -9.2
Constraint Benchmark 1 (%) -5.5 9.0 -1.1 10.2 3.1 1.0 6.9 6.4 5.5 -8.5
  1y 3y 5y 10y Incept.
-4.02 1.32 1.78 1.87 3.38
Constraint Benchmark 1 (%) -3.56 1.65 2.72 2.55 4.08
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
3.26 -0.26 1.31 3.40 -4.02 4.02 9.22 20.31 58.11
Constraint Benchmark 1 (%) 3.18 -0.22 1.58 3.51 -3.56 5.04 14.39 28.67 73.38
  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
From
31.Mar.2022
To
31.Mar.2023
Total Return (%)

as of 31-Mar-2023

2.47 1.10 7.55 3.48 -4.89
Constraint Benchmark 1 (%)

as of 31-Mar-2023

3.38 3.71 6.59 4.91 -4.45

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 USD 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 26-May-2023 USD 294,483,977.87
Share Class launch date 23-Jul-2009
Fund Launch Date 19-Jun-2009
Share Class Currency USD
Base Currency USD
Asset Class Fixed Income
Constraint Benchmark 1 Bloomberg World Government Inflation-Linked 1-20yr Index USD Hedged
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 0.98%
Annual Management Fee 0.75%
Performance Fee 0.00%
Minimum Initial Investment USD 5,000.00
Minimum Subsequent Investment USD 1,000.00
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Inflation-Linked Bond - USD Hedged
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGFIA3U
ISIN LU0425308243
SEDOL B45H1C2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28-Apr-2023 140
12m Trailing Yield as of 28-Feb-2019 0.00
Standard Deviation (3y) as of 30-Apr-2023 6.07%
3y Beta as of 30-Apr-2023 0.99
Yield to Maturity as of 28-Apr-2023 3.38%
Modified Duration as of 28-Apr-2023 5.95
Weighted Avg YTM as of 28-Apr-2023 1.12%
Effective Duration as of 28-Apr-2023 5.87 yrs
Weighted Avg Maturity as of 28-Apr-2023 7.31 yrs
WAL to Worst as of 28-Apr-2023 7.31 yrs

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 stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts 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.

 

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BGF Global Inflation Linked Bond Fund, Class A3, as of 30-Apr-2023 rated against 70 Global Inflation-Linked Bond - USD Hedged Funds.

Portfolio Managers

Portfolio Managers

Christopher Allen
Christopher Allen
David Rogal
Managing Director, Portfolio Manager

  

Holdings

Holdings

as of 28-Apr-2023
Name Weight (%)
UMBS 30YR TBA(REG A) 4.26
TREASURY (CPI) NOTE 1.625 10/15/2027 3.44
TREASURY (CPI) NOTE 0.125 07/15/2024 2.25
TREASURY (CPI) NOTE 0.625 01/15/2026 1.95
TREASURY (CPI) NOTE 0.375 07/15/2025 1.93
Name Weight (%)
TREASURY (CPI) NOTE 0.25 01/15/2025 1.92
TREASURY (CPI) NOTE 0.125 01/15/2032 1.86
TREASURY (CPI) NOTE 0.125 07/15/2031 1.85
TREASURY (CPI) NOTE 0.625 07/15/2032 1.78
TREASURY (CPI) NOTE 0.125 07/15/2030 1.76
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28-Apr-2023

% of Market Value

Type Fund Benchmark Net
as of 28-Apr-2023

% of Market Value

Type Fund Benchmark Net
as of 28-Apr-2023

% of Market Value

Type Fund Benchmark Net
as of 28-Apr-2023

% of Market Value

Type Fund Benchmark Net
as of 28-Apr-2023

% 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

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class A3 USD Monthly 15.28 -0.03 -0.20 26-May-2023 16.17 14.55 LU0425308243 -
Class D2 USD None 16.53 -0.04 -0.24 26-May-2023 17.44 15.71 LU0448666684 -
Class D3 USD Monthly 15.44 -0.04 -0.26 26-May-2023 16.34 14.70 LU0827882555 -
Class A2 Hedged EUR None 13.18 -0.04 -0.30 26-May-2023 14.32 12.78 LU0425308169 -
Class X2 Hedged EUR None 15.17 -0.03 -0.20 26-May-2023 16.35 14.63 LU0425308755 -
Class I2 USD - 9.83 -0.03 -0.30 26-May-2023 10.36 9.34 LU2298379822 -
Class D2 Hedged EUR None 13.85 -0.03 -0.22 26-May-2023 15.00 13.40 LU0448666502 -
Class C3 USD Monthly 13.09 -0.03 -0.23 26-May-2023 14.00 12.56 LU0425308599 -
Class E2 Hedged EUR None 12.30 -0.04 -0.32 26-May-2023 13.42 11.97 LU0452734238 -
Class C2 USD None 13.08 -0.04 -0.30 26-May-2023 13.99 12.56 LU0425308326 -
Class A2 USD None 15.74 -0.04 -0.25 26-May-2023 16.66 14.99 LU0425308086 -

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
Recommended holding period : 3 years
Example Investment USD 10,000
Scenario
If you exit after 1 year
If you exit after 3 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
6,900 USD
-31.0%
7,110 USD
-10.7%

Unfavourable

What you might get back after costs
Average return each year
8,610 USD
-13.9%
8,880 USD
-3.9%

Moderate

What you might get back after costs
Average return each year
9,810 USD
-1.9%
10,540 USD
1.8%

Favourable

What you might get back after costs
Average return each year
10,590 USD
5.9%
11,210 USD
3.9%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature