Fixed Income

BlackRock Fixed Income Global Opportunities Fund

IMPORTANT:
• The Fund may invest in debt securities that are subject to actual or perceived ratings downgrade. An increase in interest rates may adversely affect the value of the bonds held by the Fund. The Fund may invest in non-investment grade and unrated bonds that may be subject to higher default, volatility and liquidity risks. The Fund invests in asset/ mortgage backed securities that may be subject to greater credit, liquidity, and interest rate risks and are often exposed to extension and prepayment risks.
• The fund is subject to currency risk, delayed delivery transactions risk, emerging market risk, foreign investments restrictions risk, sovereign debt risk, securities lending counterparty risk, currency conversion risk including Renminbi denominated Classes, liquidity risk and contingent convertible bonds risk.
• Class 6 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Class 8 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion and include interest rate differentials arising from share class currency hedging. Negative interest rate differentials may decrease the dividends paid. Paying dividends gross of expenses may result in more income being available for distribution; however these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
• The Fund may use derivatives for hedging and extensively for investment purposes. Risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The Fund’s volatility may increase or decrease from its derivative usage, and may suffer losses.
• The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
• Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors

Overview

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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

Performance

Performance

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Past performance is not a guide to future performance. Investors may not get back the full amount invested.

If the share class of the fund has been launched for less than 5 years, please refer to the fund factsheet for the performance information calculated from the launch date to the end of launch year.

Performance is calculated based on the calendar year end, NAV-to-NAV with dividend reinvested.

These figures show by how much the Share Class of the Fund increased or decreased in value during the calendar year being shown. Performance is calculated in the relevant Share Class currency, including ongoing charges and taxes and excluding subscription and redemption fees, if applicable.

Where no past performance is shown there was insufficient data available in that calendar year to provide performance.

Please refer to the Key Facts section on the right for the inception date of the Fund and the Share Class.
  1y 3y 5y 10y Incept.
-9.56 -1.73 -1.02 0.54 1.67
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-9.31 -0.40 -4.20 -5.56 -9.56 -5.11 -5.02 5.58 29.75
Past performance is not a guide to future performance. Investors may not get back the full amount invested.

Performance is calculated based on the period NAV-to-NAV with dividend reinvested. Performance figures are calculated net of fees.

These figures show by how much the Share Class of the Fund increased or decreased in value during the period being shown. Performance is calculated in the relevant share class currency, including ongoing charges and taxes and excluding subscription and redemption fees, if applicable.

Where no past performance is shown there was insufficient data available in that period to provide performance.

Please refer to the Key Facts section for the inception date of the Fund and the Share Class.

Key Facts

Key Facts

Net Assets of Fund as of 02-Dec-2022 USD 7,968,854,898
Share Class Inception Date 01-Feb-2007
Fund Inception 31-Jan-2007
Share Class Currency EUR
Fund Base Currency USD
Asset Class Fixed Income
Benchmark -
SFDR Classification Other
Initial Charge 5.00%
Management Fee (incl Distribution Fee, if any) 0.50%
Performance Fee 0.00%
Minimum Initial Investment EUR 100000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Flexible Bond - EUR Hedged
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MLIHED2
ISIN LU0278456651
SEDOL B1PF5Y5
SFC-authorised ESG fund No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Oct-2022 2892
Standard Deviation (3y) as of 31-Oct-2022 6.05%
Yield to Maturity as of 31-Oct-2022 5.88
Modified Duration as of 31-Oct-2022 2.90 yrs
Yield to Worst as of 31-Oct-2022 5.84
Effective Duration as of 31-Oct-2022 2.54
Weighted Avg Maturity as of 31-Oct-2022 6.13
WAL to Worst as of 31-Oct-2022 6.13

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.

Ratings

Ratings

Morningstar Rating

4 stars
As of 30-Nov-2022

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Effective 15-Mar-2022
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 31-Oct-2022
Name Weight (%)
TREASURY NOTE 1.25 11/30/2026 8.78
TREASURY NOTE 2.875 05/15/2032 6.25
TREASURY BOND 2.875 05/15/2052 2.65
TREASURY (CPI) NOTE 0.625 01/15/2024 2.41
TREASURY (CPI) NOTE 0.5 04/15/2024 2.12
Name Weight (%)
GNMA2 30YR TBA(REG C) 1.88
FHLMC 30YR UMBS 1.81
FNMA 30YR 2019 PRODUCTION 1.81
FNMA 30YR 2018 PRODUCTION 1.77
TREASURY NOTE 2.625 05/31/2027 1.32
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.
Holdings subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-2022

% of Weight

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. Due to rounding, the total may not be equal to 100%
as of 31-Oct-2022

% of Weight

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the geography where the issuer of the securities carries out much of their business. “Others” excluded from the chart above.
as of 31-Oct-2022

% of Weight

Type Fund
Allocations subject to change. Due to rounding, the total may not be equal to 100%.
as of 31-Oct-2022

% of Weight

Type Fund
as of 31-Oct-2022

% of Weight

Type Fund
as of 31-Oct-2022

% of Weight

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.
Due to rounding, the total may not be equal to 100%

Pricing & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
D2 Hedged EUR Non-Distributing 10.19 0.00 0.00 02-Dec-2022 11.08 9.98 LU0278456651 -
A5 USD Quarterly 9.67 0.01 0.10 02-Dec-2022 10.49 9.43 LU0280465617 -
A2 USD Non-Distributing 14.65 0.01 0.07 02-Dec-2022 15.68 14.29 LU0278466700 -
A5 HEDGED SGD Quarterly 13.73 0.01 0.07 02-Dec-2022 14.94 13.40 LU0280468637 -
D2 Hedged PLN Non-Distributing 17.04 0.02 0.12 02-Dec-2022 17.61 16.58 LU0827879684 -
A2 Hedged SGD Non-Distributing 20.84 0.02 0.10 02-Dec-2022 22.37 20.34 LU0278465488 -
D4 Hedged CAD Annually 9.28 0.01 0.11 02-Dec-2022 10.09 9.05 LU1270847186 -
D5 USD Quarterly 10.17 0.01 0.10 02-Dec-2022 11.03 9.91 LU0737136415 -
D2 USD Non-Distributing 15.39 0.01 0.07 02-Dec-2022 16.40 15.01 LU0278469043 -
D5 Hedged EUR Quarterly 6.23 0.00 0.00 02-Dec-2022 6.91 6.10 LU0827879841 -
D2 Hedged GBP Non-Distributing 11.23 0.01 0.09 02-Dec-2022 12.04 10.96 LU0278463947 -
C5 USD Quarterly 9.62 0.00 0.00 02-Dec-2022 10.43 9.40 LU0280466938 -
A6 USD Monthly 10.99 0.01 0.09 02-Dec-2022 12.09 10.77 LU1051767835 -
A2 Hedged GBP Non-Distributing 10.21 0.01 0.10 02-Dec-2022 11.00 9.98 LU1181257202 -
A1 EUR Monthly 9.21 0.05 0.55 02-Dec-2022 9.94 9.02 LU1005244220 -
D4 EUR Annually 12.35 0.07 0.57 02-Dec-2022 13.45 12.10 LU1085283973 -
A8 Hedged CNH Monthly 87.36 0.06 0.07 02-Dec-2022 97.45 85.96 LU1165523371 -
D5 Hedged CHF Quarterly 8.42 0.01 0.12 02-Dec-2022 9.35 8.25 LU1681056062 -
A2 Hedged JPY Non-Distributing 1,002.00 1.00 0.10 02-Dec-2022 1,094.00 982.00 LU1005243099 -
C2 USD Non-Distributing 12.03 0.00 0.00 02-Dec-2022 13.03 11.76 LU0278467773 -
A5 HEDGED EUR Quarterly 6.22 0.01 0.16 02-Dec-2022 6.89 6.09 LU0280467159 -
A2 Hedged EUR Non-Distributing 9.46 0.01 0.11 02-Dec-2022 10.34 9.26 LU0278453476 -
D2 Hedged SGD Non-Distributing 21.91 0.02 0.09 02-Dec-2022 23.41 21.38 LU0827879767 -
D4 Hedged EUR Annually 8.49 0.01 0.12 02-Dec-2022 9.40 8.30 LU1340096590 -
A2 Hedged PLN Non-Distributing 16.19 0.01 0.06 02-Dec-2022 16.82 15.77 LU0480534915 -
C1 EUR Monthly 9.21 0.05 0.55 02-Dec-2022 9.94 9.01 LU1005244493 -
C1 USD Monthly 9.65 0.01 0.10 02-Dec-2022 10.48 9.44 LU1003077077 -
D2 EUR Non-Distributing 14.70 0.09 0.62 02-Dec-2022 15.77 14.12 LU1005243503 -
A2 EUR Non-Distributing 13.99 0.08 0.58 02-Dec-2022 15.03 13.50 LU1005243255 -
A1 USD Monthly 9.65 0.01 0.10 02-Dec-2022 10.49 9.44 LU1003076855 -
A4 HEDGED EUR Annually 8.48 0.00 0.00 02-Dec-2022 9.40 8.31 LU0973708182 -
C2 EUR Non-Distributing 11.49 0.07 0.61 02-Dec-2022 12.37 11.20 LU1005243412 -
A2 Hedged SEK Non-Distributing 97.43 0.08 0.08 02-Dec-2022 105.94 95.34 LU1121320748 -
D2 Hedged CHF Non-Distributing 10.25 0.01 0.10 02-Dec-2022 11.17 10.04 LU0972027022 -
A6 Hedged HKD Monthly 82.02 0.06 0.07 02-Dec-2022 91.04 80.53 LU1051769021 -
A2 Hedged CHF Non-Distributing 9.40 0.01 0.11 02-Dec-2022 10.29 9.21 LU1121327164 -
A4 USD Annually 9.54 0.00 0.00 02-Dec-2022 10.36 9.31 LU1153584997 -
A8 Hedged AUD Monthly 8.32 0.01 0.12 02-Dec-2022 9.21 8.16 LU1165522480 -
A3 USD Monthly 9.64 0.01 0.10 02-Dec-2022 10.48 9.44 LU1003076939 -
A3 EUR Monthly 9.21 0.06 0.66 02-Dec-2022 9.94 9.01 LU1005243339 -
D4 Hedged GBP Annually 4.40 0.01 0.23 02-Dec-2022 4.81 4.30 LU1294567364 -
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Russell Brownback
Russell Brownback
Aidan Doyle
Aidan Doyle
Bob Miller
Bob Miller

Documents

Documents