Fixed Income

BGF Fixed Income Global Opportunities 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.

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

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Distributions

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

as of 31-Dec-2020

1.61 2.48 -3.56 4.53 4.25
  1y 3y 5y 10y Incept.
4.25 1.67 1.82 - 1.94
  YTD 1m 3m 1y 3y 5y 10y Incept.
4.25 0.67 2.73 4.25 5.09 9.44 - 17.09
  2016 2017 2018 2019 2020
Total Return (%) 1.61 2.48 -3.56 4.53 4.25
Annual w/ Sales Charge (%) -3.47 -2.64 -8.38 -0.70 -0.96

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 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

Size of Fund (Millions) as of 15-Jan-2021 USD 10,314.25
12m Trailing Yield as of 31-Dec-2020 2.05
Number of Holdings as of 31-Dec-2020 3,114
Base Currency USD
Fund Launch Date 31-Jan-2007
Share Class launch date 18-Oct-2012
Asset Class Fixed Income
Morningstar Category Global Flexible Bond - EUR Hedged
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 0.71%
ISIN LU0827879841
Bloomberg Ticker BFID5EH
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B58LQC3
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 100,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 31-Dec-2020 2.62%
Modified Duration as of 31-Dec-2020 3.62
Effective Duration as of 31-Dec-2020 2.70 Jahre
Weighted Avg Maturity as of 31-Dec-2020 5.49 Jahre
WAL to Worst as of 31-Dec-2020 5.49 Jahre

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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. 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.


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 31-Dec-2020 0.00%
MSCI - UN Global Compact Violators as of 31-Dec-2020 1.05%
MSCI - Nuclear Weapons as of 31-Dec-2020 0.15%
MSCI - Thermal Coal as of 31-Dec-2020 0.00%
MSCI - Civilian Firearms as of 31-Dec-2020 0.00%
MSCI - Oil Sands as of 31-Dec-2020 0.02%
MSCI - Tobacco as of 31-Dec-2020 0.03%

Business Involvement Coverage as of 31-Dec-2020 25.42%
Percentage of Fund not covered as of 31-Dec-2020 74.58%
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 0.12% and for Oil Sands 0.18%.

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 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 phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves 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

3
Overall Morningstar Rating for BGF Fixed Income Global Opportunities Fund, Class D5 Hedged, as of 31-Dec-2020 rated against 650 Global Flexible Bond - EUR Hedged Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective 22-Apr-2020)

Portfolio Managers

Portfolio Managers

Rick Rieder
Portfolio Manager, BlackRock’s Green Bond Mandates

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income.

Bob Miller
Managing Director

Bob Miller, Managing Director, is head of Americas Fundamental Fixed Income within BlackRock's Global Fixed Income group and a member of the Global Fixed Income Executive Committee.

Aidan Doyle
CFA, Director

Aidan Doyle, CFA, Director, is a portfolio manager within the Global Bond Team.

Holdings

Holdings

as of 31-Dec-2020
Name Weight (%)
TREASURY (CPI) NOTE 0.5 04/15/2024 1.85
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 1.24
ITALY (REPUBLIC OF) 2.45 09/01/2050 1.22
TREASURY NOTE 1.5 08/31/2021 1.12
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.85 06/04/2027 1.01
Name Weight (%)
INDIA (REPUBLIC OF) 7.26 01/14/2029 0.97
TREASURY NOTE 1.5 09/30/2021 0.94
FNMA 30YR 2019 PRODUCTION 0.84
INDONESIA (REPUBLIC OF) 7 09/15/2030 0.77
GREECE REPUBLIC OF (GOVERNMENT) 1.5 06/18/2030 0.69
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Dec-2020

% of Market Value

Type Fund
as of 31-Dec-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 31-Dec-2020

% of Market Value

Type Fund
Allocations subject to change.
as of 31-Dec-2020

% of Market Value

Type Fund
as of 31-Dec-2020

% of Market Value

Type Fund
as of 31-Dec-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 D5 Hedged EUR Quarterly 7.03 0.00 0.00 7.06 6.21 - LU0827879841 - -
Class D2 Hedged EUR None 11.11 -0.01 -0.09 11.13 9.68 - LU0278456651 - -
Class A5 Hedged EUR Quarterly 7.01 -0.01 -0.14 7.04 6.20 - LU0280467159 - -
Class A2 Hedged SGD None 22.35 -0.02 -0.09 22.39 19.39 - LU0278465488 - -
Class D5 USD Quarterly 11.14 -0.01 -0.09 11.17 9.74 - LU0737136415 - -
Class I2 Hedged CHF None 11.98 -0.01 -0.08 12.01 10.44 - LU1270847004 - -
Class A2 Hedged EUR None 10.41 -0.01 -0.10 10.43 9.11 - LU0278453476 - -
Class I2 Hedged EUR None 11.47 -0.01 -0.09 11.50 9.98 - LU0368231436 - -
Class I2 Hedged JPY None 1,150.00 -1.00 -0.09 1,152.00 998.00 - LU1005243172 - -
Class A2 USD None 15.67 -0.01 -0.06 15.70 13.55 - LU0278466700 - -
Class A2 Hedged PLN None 16.82 -0.02 -0.12 16.86 14.63 - LU0480534915 - -
Class D4 Hedged CAD Annual 10.25 -0.01 -0.10 10.27 9.08 - LU1270847186 - -
Class A5 USD Quarterly 10.60 -0.01 -0.09 10.63 9.27 - LU0280465617 - -
Class A5 Hedged SGD Quarterly 15.10 -0.01 -0.07 15.13 13.24 - LU0280468637 - -
Class E2 Hedged EUR None 9.72 -0.01 -0.10 9.74 8.54 - LU0278456818 - -
Class D4 Hedged EUR Annual 9.62 -0.01 -0.10 9.64 8.58 - LU1340096590 - -
Class E2 USD None 14.57 -0.02 -0.14 14.60 12.66 - LU0278469472 - -
Class D4 EUR Annual 11.78 0.01 0.08 12.90 11.57 - LU1085283973 - -
Class D2 Hedged PLN None 17.53 -0.01 -0.06 17.56 15.18 - LU0827879684 - -
Class I5 Hedged JPY Quarterly 987.00 0.00 0.00 991.00 870.00 - LU1791183194 - -
Class I3 Hedged CAD Monthly 10.06 -0.01 -0.10 10.08 8.86 - LU1234671672 - -
Class I2 Hedged AUD - 11.05 -0.01 -0.09 11.07 9.57 - LU1786038098 - -
Class AI2 EUR - 10.29 0.01 0.10 11.06 9.95 - LU1960221981 - -
Class D2 Hedged GBP None 12.00 -0.01 -0.08 12.02 10.41 - LU0278463947 - -
Class D5 Hedged CHF Quarterly 9.53 0.00 0.00 9.57 8.44 - LU1681056062 - -
Class D2 Hedged SGD None 23.28 -0.02 -0.09 23.33 20.12 - LU0827879767 - -
Class D2 USD None 16.31 -0.01 -0.06 16.34 14.05 - LU0278469043 - -
Class A8 Hedged CNH Monthly 99.17 -0.09 -0.09 99.38 87.61 - LU1165523371 - -
Class AI2 Hedged EUR - 10.62 0.01 0.09 10.63 9.28 - LU1960221809 - -
Class A2 Hedged GBP None 11.02 -0.01 -0.09 11.04 9.60 - LU1181257202 - -
Class A2 Hedged JPY None 1,097.00 -1.00 -0.09 1,099.00 957.00 - LU1005243099 - -
Class I5 JPY Quarterly 1,077.00 -3.00 -0.28 1,134.00 997.00 - LU1926936912 - -
Class A6 USD Monthly 12.43 -0.01 -0.08 12.46 11.09 - LU1051767835 - -
Class A1 EUR Daily 8.77 0.01 0.11 9.56 8.59 - LU1005244220 - -
Class A3 EUR Monthly 8.77 0.01 0.11 9.56 8.59 - LU1005243339 - -
Class A1 USD Daily 10.61 -0.01 -0.09 10.63 9.29 - LU1003076855 - -
Class A3 USD Monthly 10.61 -0.01 -0.09 10.63 9.29 - LU1003076939 - -
Class I2 USD None 13.00 -0.01 -0.08 13.02 11.18 - LU0986736956 - -
Class E2 EUR None 12.05 0.01 0.08 13.01 11.70 - LU1005243685 - -
Class I2 Hedged GBP None 12.13 -0.01 -0.08 12.15 10.51 - LU0999670564 - -
Class D4 Hedged GBP Annual 4.89 0.00 0.00 4.90 4.34 - LU1294567364 - -
Class A2 EUR None 12.95 0.01 0.08 13.93 12.53 - LU1005243255 - -
Class I5 GBP Hedged GBP Quarterly 10.32 -0.01 -0.10 10.36 9.09 - LU1877503935 - -
Class A4 Hedged EUR Annual 9.61 -0.01 -0.10 9.63 8.56 - LU0973708182 - -
Class A6 Hedged HKD Monthly 93.74 -0.08 -0.09 93.94 83.53 - LU1051769021 - -
Class D2 EUR None 13.48 0.01 0.07 14.43 12.99 - LU1005243503 - -
Class I5 USD Quarterly 10.37 -0.01 -0.10 10.40 9.06 - LU1083819141 - -
Class A2 Hedged CHF None 10.38 -0.01 -0.10 10.40 9.10 - LU1121327164 - -
Class A2 Hedged SEK None 106.32 -0.09 -0.08 106.53 92.76 - LU1121320748 - -
Class D2 Hedged CHF None 11.22 -0.01 -0.09 11.24 9.79 - LU0972027022 - -
Class I5 Hedged EUR Quarterly 9.31 -0.01 -0.11 9.35 8.23 - LU1129992308 - -
Class A8 Hedged AUD Monthly 9.46 0.00 0.00 9.47 8.42 - LU1165522480 - -
Class I2 Hedged CAD None 12.02 -0.01 -0.08 12.04 10.39 - LU1136394076 - -
Class A4 USD Annual 10.51 -0.01 -0.10 10.53 9.25 - LU1153584997 - -

Literature

Literature