Fixed Income

BlackRock US Dollar Bond 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 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, geographical concentration risk in the US, non-investment grade and unrated bond risks, sovereign debt risk, turnover risk, securities lending counterparty risk and contingent convertible bonds risk.
•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

Chart

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Distributions

Ex-Date Distribution
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  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 6.53 -0.18 2.57 3.87 -0.70 9.32 8.28 -1.52 -14.23 5.37
Benchmark (%) 5.97 0.55 2.65 3.54 0.01 8.72 7.51 -1.54 -13.01 5.53

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
1.27 -3.53 -0.18 1.14 1.99
Benchmark (%) 1.31 -3.10 -0.17 1.26 1.75
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-1.34 1.48 0.00 2.26 1.27 -10.21 -0.89 11.99 28.90
Benchmark (%) -1.64 1.70 0.04 2.12 1.31 -9.02 -0.85 13.29 25.09
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.

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 14-Jun-2024
USD 496,445,890
Fund Inception
07-Apr-1989
Fund Base Currency
USD
Benchmark
Bloomberg Barclays US Aggregate Index
Initial Charge
5.00%
Management Fee (incl Distribution Fee, if any)
0.45%
Minimum Initial Investment
USD 100000
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
USD Diversified Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
B45NCV6
Share Class Inception Date
04-Jul-2011
Share Class Currency
USD
Asset Class
Fixed Income
SFDR Classification
Other
ISIN
LU0592701923
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
BGFCBD3
SFC-authorised ESG fund
No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31-May-2024
1357
Standard Deviation (3y)
as of 31-May-2024
7.30%
Yield to Maturity
as of 31-May-2024
5.84
Yield to Worst
as of 31-May-2024
5.83
Weighted Avg Maturity
as of 31-May-2024
9.18
12M Trailing Distribution
as of 31-May-2024
4.04%
3y Beta
as of 31-May-2024
0.970
Modified Duration
as of 31-May-2024
6.22 yrs
Effective Duration
as of 31-May-2024
6.03
WAL to Worst
as of 31-May-2024
9.18

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, 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

3 stars
As of 31-May-2024

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Effective 20-Nov-2023
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 31-May-2024
Name Weight (%)
UNITED STATES TREASURY 26.22
FEDERAL NATIONAL MORTGAGE ASSOCIATION 11.18
FEDERAL HOME LOAN MORTGAGE CORPORATION 8.30
UNIFORM MBS 4.88
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 3.78
Name Weight (%)
GOLDMAN SACHS GROUP INC/THE 1.41
DIAMONDBACK ENERGY INC 1.29
MORGAN STANLEY 1.14
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 1.09
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 0.97
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-May-2024

% of Weight

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. Due to rounding, the total may not be equal to 100%
as of 31-May-2024

% of Weight

Type Fund Benchmark Net
as of 31-May-2024

% of Weight

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

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
D3 USD 14.97 0.04 0.27 14-Jun-2024 15.27 14.01 LU0592701923
C1 USD 14.07 0.04 0.29 14-Jun-2024 14.32 13.15 LU0147418528
A2 Hedged SGD 10.49 0.03 0.29 14-Jun-2024 10.58 9.91 LU2699150137
C2 USD 23.29 0.06 0.26 14-Jun-2024 23.43 21.42 LU0147418874
A1 USD 14.95 0.04 0.27 14-Jun-2024 15.22 13.97 LU0028835386
D2 USD 34.54 0.10 0.29 14-Jun-2024 34.54 31.43 LU0548367084
A3 USD 14.98 0.04 0.27 14-Jun-2024 15.27 14.01 LU0172417379
A2 CZK 756.48 10.65 1.43 14-Jun-2024 759.20 674.13 LU1791174102
A2 USD 32.64 0.09 0.28 14-Jun-2024 32.67 29.78 LU0096258362
D2 Hedged GBP 10.20 0.02 0.20 14-Jun-2024 10.22 9.32 LU1294567448
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Aidan Doyle, CFA
Managing Director, Portfolio Manager

  

Chi Chen
Director, Portfolio Manager

  

David Rogal
David Rogal
Sam Summers
Director, Portfolio Manager

  

Documents

Documents