BGF Fixed Income Global Opportunities Fund

Fixed Income

BGF Fixed Income Global Opportunities Fund

Overview

Investment Approach

The Fund aims to achieve a return on your investment through a combination of capital growth and income on the Fund’s assets. The Fund invests primarily in fixed income securities (such as bonds) on a global basis and money-market instruments (i.e. debt securities with short term maturities). The fixed income securities and money-market instruments may be issued by governments, government agencies, companies and supranationals.

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.

Please note the Fund-specific risks under the relevant section in Disclaimer.

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

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Performance

Performance

  From
30.Jun.2015
To
30.Jun.2016		 From
30.Jun.2016
To
30.Jun.2017		 From
30.Jun.2017
To
30.Jun.2018		 From
30.Jun.2018
To
30.Jun.2019		 From
30.Jun.2019
To
30.Jun.2020
Total Return (%) Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.

as of 30-Jun-2020

-0.31 4.30 0.30 3.42 1.73
  2015 2016 2017 2018 2019
Total Return (%) Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment. -0.21 2.55 3.55 -2.16 6.31
Annual w/ Sales Charge (%) Max Sales Charge: 5.00 -5.20 -2.58 -1.63 -7.05 0.99

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in SGD, 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

Chart

Performance chart data not available for display.
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Share Class performance displayed in SGD and Benchmark performance displayed in USD. Source: BlackRock. Performance is shown on a net asset value basis, with gross income reinvested. Past performance is not a guide to future performance.

Reinvestments

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable Date Total Distribution

Key Facts

Key Facts

Size of Fund (Millions) as of 05-Aug-2020 USD 9,674.74
12m Trailing Yield The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months. -
Number of Holdings The number of holdings in the fund excluding cash positions and derivatives exposures. Derivatives are contracts used by the fund to gain exposure to an investment without buying it directly. They can be used in a number of ways. For example a 'currency forward' derivative contract can be used to 'hedge' or aim to mitigate the effects of changes in exchange rates. as of 30-Jun-2020 3,985
Base Currency USD
Fund Launch Date 31-Jan-2007
Share Class launch date 01-Feb-2007
Asset Class Fixed Income
Morningstar Category Other Bond
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures Ongoing Charges Figure (OCF)- this is a measure of the total costs associated with managing and operating an investment fund. These costs consist primarily of management fees and other expenses such as trustee, custody, transaction and registration fees and other operating expenses. The total cost for the fund is divided by the fund’s total assets and expressed as a percentage which represents the OCF. 1.22%
ISIN LU0278465488
Bloomberg Ticker MLIHSA2
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B1PF5Z6
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment SGD 5,000.00
Minimum Subsequent Investment SGD 1,000.00
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity Yield to Maturity (YTM) is the discount rate that equates the present value of a bond's cash flows with its market price (including accrued interest). The Fund Average YTM is the weighted average of the fund's individual bond holding YTMs based upon Net Asset Value ('NAV'). The measure does not include fees and expenses. For callable bonds, YTM is the yield-to-worst. as of 30-Jun-2020 3.16%
Modified Duration Modified Duration is a measure of price sensitivity of a bond to changes in interest rates. It inversely indicates the expected change in the price of a bond, assuming a 1% change in interest rates. The Modified Duration of iShares ETFs is calculated as the average of the underlying bonds' modified duration values, weighted by the bond's weight in the fund. as of 30-Jun-2020 4.23
Effective Duration Effective Duration is a measure of the potential impact on a bond or portfolio price of a 1% change in interest rates across all maturities. It takes into account the possible changes in expected bond cash flows for bonds with embedded optionality (for example the bond issuer's right to redeem bonds at a pre-determined price on certain dates) due to the 1% change in rates. as of 30-Jun-2020 3.24 Jahre
Weighted Avg Maturity Bond's maturity is the length of time until the date when the principal amount of a bond is to be repaid. Weighted Avg. Maturity, WAM, is used to calculate the maturity of a basket of bonds (fund) and is calculated as the average of the underlying bonds' maturities weighted by the bonds' weight in the fund. as of 30-Jun-2020 6.58 Jahre
WAL to Worst The weighted average time to receipt of principal, adjusting for embedding optionality. as of 30-Jun-2020 6.58 Jahre

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, 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.


Transparency on Business Involvement metrics is not indicative of a fund’s investment objective, and, unless otherwise stated in Fund documentation and included within a Fund’s investment objective, ESG integration does not change a Fund’s investment objective or constrain the Investment Manager’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 Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as having controversial weapons involvement including Cluster Munitions, Landmines, Depleted Uranium, Biological & Chemical, and non detectable fragments. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page. as of 30-Jun-2020 0.06%
MSCI - UN Global Compact Violators Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as failing to comply with the United Nations Global Compact Principles. For further details regarding MSCI’s methodology, see footnote 5 at the bottom of the page. as of 30-Jun-2020 0.76%
MSCI - Nuclear Weapons Percentage sum of issuers within the fund that have been identified by MSCI ESG research as manufacturing nuclear weapons. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page. as of 30-Jun-2020 0.15%
MSCI - Thermal Coal Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as earning >5% of total revenue from thermal coal production. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page. as of 30-Jun-2020 0.02%
MSCI - Civilian Firearms Percentage sum of issuers within the fund that have been identified as producing firearms and small arms ammunitions for civilian markets. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page. as of 30-Jun-2020 0.00%
MSCI - Oil Sands Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as earning >5% of total revenue from Oil Sands production. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page. as of 30-Jun-2020 0.00%
MSCI - Tobacco Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as producing tobacco products. For further details regarding MSCI’s methodology, see footnote 4 at the bottom of the page. as of 30-Jun-2020 0.00%
 

Business Involvement metrics are calculated using MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this research 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.

Risk Indicator

Risk Indicator

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2
3
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Low Risk High Risk
Typically low rewards Typically high rewards

 

Ratings

Ratings

Morningstar Analyst Rating

Morningstar Analyst Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 12-Mar-2019)

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Bob Miller
Bob Miller
Aidan Doyle (FI)
Aidan Doyle (FI)

Holdings

Holdings

as of 30-Jun-2020
Name Weight (%)
UMBS 30YR TBA(REG A) 4.52
TREASURY (CPI) NOTE 0.5 04/15/2024 3.19
TREASURY NOTE 1.5 08/31/2021 1.57
TREASURY NOTE 1.5 09/30/2021 1.05
GNMA2 30YR TBA(REG C) 0.96
Name Weight (%)
INDIA (REPUBLIC OF) 7.26 01/14/2029 0.92
FNMA 30YR 4.5% LTV > 90 2018 0.88
TREASURY (CPI) NOTE 0.125 10/15/2024 0.76
TREASURY (CPI) NOTE 0.125 01/15/2030 0.73
SPAIN (KINGDOM OF) 2.7 10/31/2048 0.66
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Jun-2020

% of Market Value

Type Fund
as of 30-Jun-2020

% of Market Value

Type Fund
Negative weightings may result from specific circumstances (including timing differences between trade and settlement 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.
as of 30-Jun-2020

% of Market Value

Type Fund
Allocations subject to change.
as of 30-Jun-2020

% of Market Value

Type Fund
as of 30-Jun-2020

% of Market Value

Type Fund
as of 30-Jun-2020

% 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
Class A2 Hedged SGD None 21.69 0.06 0.28 21.69 19.39 - LU0278465488 - -
Class D2 Hedged PLN None 16.99 0.04 0.24 16.99 15.18 - LU0827879684 - -
Class I2 Hedged CHF None 11.65 0.03 0.26 11.65 10.44 - LU1270847004 - -
Class I3 Hedged CAD Monthly 9.83 0.02 0.20 9.86 8.86 - LU1234671672 - -
Class A2 Hedged PLN None 16.34 0.04 0.25 16.34 14.63 - LU0480534915 - -
Class E2 Hedged EUR None 9.49 0.02 0.21 9.51 8.54 - LU0278456818 - -
Class D4 Hedged EUR Annual 9.57 0.02 0.21 9.69 8.58 - LU1340096590 - -
Class A2 USD None 15.19 0.03 0.20 15.19 13.55 - LU0278466700 - -
Class I5 Hedged JPY Quarterly 967.00 2.00 0.21 974.00 870.00 - LU1791183194 - -
Class A2 Hedged EUR None 10.14 0.02 0.20 10.14 9.11 - LU0278453476 - -
Class D5 USD Quarterly 10.89 0.03 0.28 10.89 9.74 - LU0737136415 - -
Class A2 Hedged JPY None 1,067.00 3.00 0.28 1,067.00 957.00 - LU1005243099 - -
Class D2 Hedged EUR None 10.80 0.02 0.19 10.80 9.68 - LU0278456651 - -
Class E2 USD None 14.16 0.03 0.21 14.16 12.66 - LU0278469472 - -
Class I2 Hedged EUR None 11.14 0.02 0.18 11.14 9.98 - LU0368231436 - -
Class A5 Hedged EUR Quarterly 6.89 0.02 0.29 6.95 6.20 - LU0280467159 - -
Class I2 Hedged JPY None 1,115.00 3.00 0.27 1,115.00 998.00 - LU1005243172 - -
Class A5 USD Quarterly 10.36 0.03 0.29 10.36 9.27 - LU0280465617 - -
Class A5 Hedged SGD Quarterly 14.76 0.04 0.27 14.79 13.24 - LU0280468637 - -
Class D4 Hedged CAD Annual 10.16 0.02 0.20 10.16 9.08 - LU1270847186 - -
Class D4 EUR Annual 11.87 -0.13 -1.08 12.90 11.62 - LU1085283973 - -
Class AI2 Hedged EUR - 10.34 0.03 0.29 10.34 9.28 - LU1960221809 - -
Class A2 Hedged GBP None 10.71 0.03 0.28 10.71 9.60 - LU1181257202 - -
Class AI2 EUR - 10.15 -0.11 -1.07 11.06 9.95 - LU1960221981 - -
Class D5 Hedged EUR Quarterly 6.90 0.02 0.29 6.96 6.21 - LU0827879841 - -
Class A8 Hedged CNH Monthly 96.85 0.25 0.26 97.44 87.61 - LU1165523371 - -
Class A6 USD Monthly 12.22 0.03 0.25 12.33 11.09 - LU1051767835 - -
Class D5 Hedged CHF Quarterly 9.36 0.02 0.21 9.46 8.44 - LU1681056062 - -
Class I2 Hedged AUD - 10.70 0.02 0.19 10.70 9.57 - LU1786038098 - -
Class D2 USD None 15.78 0.04 0.25 15.78 14.05 - LU0278469043 - -
Class D2 Hedged GBP None 11.64 0.03 0.26 11.64 10.41 - LU0278463947 - -
Class D2 Hedged SGD None 22.54 0.05 0.22 22.54 20.12 - LU0827879767 - -
Class I5 JPY Quarterly 1,068.00 -4.00 -0.37 1,134.00 997.00 - LU1926936912 - -
Class E2 EUR None 11.91 -0.14 -1.16 13.01 11.70 - LU1005243685 - -
Class I2 USD None 12.57 0.04 0.32 12.57 11.18 - LU0986736956 - -
Class A1 USD Daily 10.36 0.02 0.19 10.36 9.29 - LU1003076855 - -
Class A3 USD Monthly 10.35 0.02 0.19 10.35 9.29 - LU1003076939 - -
Class A1 EUR Daily 8.71 -0.10 -1.14 9.56 8.59 - LU1005244220 - -
Class A3 EUR Monthly 8.71 -0.10 -1.14 9.56 8.59 - LU1005243339 - -
Class I2 Hedged GBP None 11.75 0.03 0.26 11.75 10.51 - LU0999670564 - -
Class D4 Hedged GBP Annual 4.85 0.01 0.21 4.88 4.34 - LU1294567364 - -
Class D2 EUR None 13.27 -0.15 -1.12 14.43 12.99 - LU1005243503 - -
Class A2 EUR None 12.78 -0.14 -1.08 13.93 12.53 - LU1005243255 - -
Class I5 GBP Hedged GBP - 10.11 0.03 0.30 10.18 9.09 - LU1877503935 - -
Class I5 USD Quarterly 10.13 0.02 0.20 10.13 9.06 - LU1083819141 - -
Class A4 Hedged EUR Annual 9.53 0.02 0.21 9.65 8.56 - LU0973708182 - -
Class A6 Hedged HKD Monthly 92.18 0.23 0.25 93.00 83.53 - LU1051769021 - -
Class D2 Hedged CHF None 10.91 0.02 0.18 10.91 9.79 - LU0972027022 - -
Class A2 Hedged SEK None 103.55 0.26 0.25 103.55 92.76 - LU1121320748 - -
Class I5 Hedged EUR Quarterly 9.15 0.03 0.33 9.23 8.23 - LU1129992308 - -
Class A2 Hedged CHF None 10.12 0.02 0.20 10.13 9.10 - LU1121327164 - -
Class A8 Hedged AUD Monthly 9.28 0.02 0.22 9.40 8.42 - LU1165522480 - -
Class A4 USD Annual 10.37 0.02 0.19 10.37 9.25 - LU1153584997 - -
Class I2 Hedged CAD None 11.63 0.02 0.17 11.63 10.39 - LU1136394076 - -

Literature

Literature