Fixed Income

BlackRock Global Bond Income 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 bonds issued or guaranteed by governments or authorities, which may involve political, economic, default or other 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's income-generating investment strategy may reduce the potential for capital growth and future income of the Fund.
•  The Fund is subject to currency risk, emerging market risk, currency conversion risk including Renminbi denominated Classes, foreign investments restrictions risk, securities lending counterparty 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 for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
•  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

Performance chart data not available for display.
View Charts & Calendar Year Performance
  1y 3y 5y 10y Incept.
0.93 - - - 3.68
  YTD 6m 1y 3y 5y 10y Incept.
-0.55 12.46 0.93 - - - 8.30
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

Size of Fund (Millions) as of 27-Oct-2020 USD 133.608 M
Base Currency USD
Fund Inception 16-Jul-2018
Share Class Currency USD
Share Class Inception Date 16-Jul-2018
Additional Currencies AUD, CAD, CHF, EUR, GBP, HKD, NZD, RMB, SGD
Asset Class Fixed Income
Morningstar Category Global Flexible Bond - USD Hedged
Distribution Frequency Non-Distributing
ISIN LU1842103555
Bloomberg Ticker BGFBID2
Management Fee (incl Distribution Fee, if any) 0.50%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Sep-2020 3.82
Modified Duration as of 30-Sep-2020 4.38 yrs
12M Trailing Distribution as of - -
Effective Duration as of 30-Sep-2020 2.56
3y Volatility as of - -
5yr Volatility as of - -
Since Class Inception – Volatility as of 30-Sep-2020 10.00
Since Class Inception - Beta as of - -

Ratings

Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Sep-2020
Name Weight (%)
FHLMC 30YR UMBS SUPER 3.69
TREASURY NOTE 1.5 08/31/2021 2.32
TREASURY NOTE 1.375 04/30/2021 2.32
FNMA 30YR 2019 PRODUCTION 1.97
TREASURY NOTE 0.625 08/15/2030 1.52
Name Weight (%)
FHLMC 15YR UMBS SUPER 1.50
TREASURY NOTE 1.75 11/15/2029 1.48
TREASURY BOND 2 02/15/2050 1.43
TREASURY BOND 2.375 11/15/2049 1.27
FNMA 30YR 4% SHLB 175K 2019 1.07
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 30-Sep-2020

% 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 30-Sep-2020

% of Weight

Type Fund
as of 30-Sep-2020

% of Weight

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

% of Weight

Type Fund
as of 30-Sep-2020

% of Weight

Type Fund
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch. This breakdown is provided by BlackRock and takes the middle rating of the agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Ratings and portfolio credit quality may change over time.
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

Pricing

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
D2 USD Non-Distributing 10.90 0.00 0.00 27-Oct-2020 11.07 9.26 LU1842103555
D2 EUR Non-Distributing 9.22 -0.01 -0.11 27-Oct-2020 10.24 8.58 LU1864663650
A6 Hedged NZD Monthly 9.59 0.00 0.00 27-Oct-2020 10.21 8.45 LU1978683412
A6 USD Monthly 9.81 0.00 0.00 27-Oct-2020 10.33 8.61 LU1842103472
Class D2 CHF Hedged CHF Non-Distributing 10.18 0.00 0.00 27-Oct-2020 10.50 8.74 LU1842103712
A8 Hedged RMB Monthly 98.50 -0.01 -0.01 27-Oct-2020 103.06 85.70 LU1978683685
A6 Hedged AUD Monthly 9.56 0.00 0.00 27-Oct-2020 10.20 8.43 LU1978683339
A2 USD Non-Distributing 10.78 -0.01 -0.09 27-Oct-2020 10.99 9.19 LU1842103399
A6 Hedged HKD Monthly 97.53 -0.02 -0.02 27-Oct-2020 102.69 85.45 LU1978682877
Class D2 EUR Hedged EUR Non-Distributing 10.26 0.00 0.00 27-Oct-2020 10.57 8.79 LU1842103639
A6 Hedged SGD Monthly 9.62 0.00 0.00 27-Oct-2020 10.20 8.47 LU1978683172
Class D2 GBP Hedged GBP Non-Distributing 10.47 0.00 0.00 27-Oct-2020 10.76 8.96 LU1842103803
A6 Hedged GBP Monthly 9.51 -0.01 -0.11 27-Oct-2020 10.14 8.41 LU1978683255
A6 Hedged CAD Monthly 9.64 0.00 0.00 27-Oct-2020 10.23 8.49 LU1978682950
A6 Hedged EUR Monthly 9.40 0.00 0.00 27-Oct-2020 10.08 8.33 LU1978683099

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Amer Bisat
Amer Bisat
Robert Wuertz
Robert Wuertz

Documents

Documents