Fixed Income

BGF US Government Mortgage 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. This Share Class may pay dividends or take charges from capital. While this may allow more income to be distributed, it may reduce the value of your holdings and impact the potential for long term capital growth. 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

Loading

Performance

Performance

Chart

Performance chart data not available for display.
View full chart

Distributions

Record Date Ex-Date Payable Date
View full table
  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
From
30.Sep.2020
To
30.Sep.2021
Total Return (%)

as of 30-Sep-2021

-0.04 -1.85 7.61 6.00 0.06
Benchmark (%)

as of 30-Sep-2021

0.34 -0.96 8.07 4.48 -0.53
  1y 3y 5y 10y Incept.
0.06 4.51 2.29 - 2.37
Benchmark (%)

as of 30-Sep-2021

-0.53 3.95 2.22 - 2.25
  YTD 1m 3m 1y 3y 5y 10y Incept.
-0.45 -0.40 0.10 0.06 14.14 11.98 - 12.87
Benchmark (%)

as of 30-Sep-2021

-0.87 -0.39 0.01 -0.53 12.31 11.61 - 12.22
  2016 2017 2018 2019 2020
Total Return (%) - 2.15 -0.26 7.00 5.69
Benchmark (%) - 2.47 1.01 6.68 4.03
Morningstar Category Avg. (%) 0.48 2.64 0.11 6.69 7.29

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 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

Size of Fund (Millions) as of 21-Oct-2021 USD 155.66
12m Trailing Yield as of 30-Sep-2021 3.51
Number of Holdings as of 30-Sep-2021 367
Base Currency U.S. Dollar
Fund Launch Date 02-Aug-1985
Share Class launch date 27-Jul-2016
Asset Class Fixed Income
Morningstar Category USD Government Bond
Benchmark Index Bloomberg Barclays US MBS Index
SFDR Classification Article 9
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 0.45%
ISIN LU1456639035
Bloomberg Ticker BGUGI3U
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL BD82K75
Bloomberg Benchmark Ticker SBMT
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 10,000,000.00
Minimum Subsequent Investment -
Use of Income Distributing

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.

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 US Government Mortgage Fund, Class I3, as of 30-Sep-2021 rated against 188 USD Government Bond Funds.

Portfolio Managers

Portfolio Managers

Akiva Dickstein
Akiva Dickstein
Matthew Kraeger
Matthew Kraeger
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.

Holdings

Holdings

as of 30-Sep-2021
Name Weight (%)
GNMA2 30YR 48.31
UMBS 30YR TBA(REG A) 40.83
UMBS 15YR TBA(REG B) 9.31
FNMA 30YR 2021 PRODUCTION 9.19
FNMA 30YR 2020 PRODUCTION 8.05
Name Weight (%)
GNMA2 30YR 2020 PRODUCTION 5.38
FHLMC 30YR UMBS SUPER 4.27
UMBS 30YR TBA 2.29
FHLMC 30YR UMBS 2.13
FNMA 30YR 3% LTV > 95 2021 1.52
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Sep-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-2021

% 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
Class I3 USD Monthly 9.27 0.01 0.11 9.62 9.26 - LU1456639035 - -
Class E2 EUR None 16.06 0.02 0.12 16.28 15.37 - LU0277197322 - -
Class I2 USD - 10.76 0.01 0.09 10.88 10.74 - LU2011139206 - -
Class A1 USD Daily 9.07 0.01 0.11 9.41 9.06 - LU0035308682 - -
Class D2 USD None 21.60 0.02 0.09 21.85 21.57 - LU0424777026 - -
Class E2 USD None 18.70 0.02 0.11 19.03 18.68 - LU0147385842 - -
Class A3 USD Monthly 9.08 0.01 0.11 9.42 9.07 - LU0172418690 - -
Class A2 USD None 20.70 0.02 0.10 20.99 20.67 - LU0096258446 - -
Class D3 USD Monthly 9.10 0.01 0.11 9.44 9.09 - LU0592702145 - -

Literature

Literature