Fixed Income

BGF US Government Mortgage Impact Fund

Overview

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

This chart has been left intentionally blank as there is less than one year's performance data.
Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.

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 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

Net Assets of Fund
as of 16-Jul-2024
USD 108,825,187
Fund Launch Date
02-Aug-1985
Fund Base Currency
USD
Constraint Benchmark 1
Bloomberg US MBS Index
Initial Charge
0.00%
ISIN
LU2677621554
Performance Fee
0.00%
Minimum Subsequent Investment
EUR 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGFI2EH
Share Class launch date
04-Oct-2023
Share Class Currency
EUR
Asset Class
Fixed Income
SFDR Classification
Article 9
Ongoing Charges Figures
0.37%
Annual Management Fee
0.40%
Minimum Initial Investment
EUR 10,000,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BRJ7S73

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28-Jun-2024
157
3y Beta
as of -
-
Modified Duration
as of 28-Jun-2024
6.08
Effective Duration
as of 28-Jun-2024
5.67
WAL to Worst
as of 28-Jun-2024
8.32
Standard Deviation (3y)
as of -
-
Yield to Maturity
as of 28-Jun-2024
5.30
Weighted Average YTM
as of 28-Jun-2024
5.30
Weighted Avg Maturity
as of 28-Jun-2024
8.32

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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 28-Jun-2024
Name Weight (%)
GNMA2 30YR 43.11
FNMA 30YR UMBS 19.06
GNMA2 30YR TBA(REG C) 15.71
FHLMC 30YR UMBS 7.83
FHLMC 30YR UMBS SUPER 7.71
Name Weight (%)
GNMA2 30YR 2020 PRODUCTION 2.72
GNMA_21-191B BI 1.14
GNMA2 30YR 2023 PRODUCTION 0.63
FHMR_20-P003 A2 0.43
FNMA_17-76 PB 0.30
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28-Jun-2024

% of Market Value

Type Fund Benchmark Net
as of 28-Jun-2024

% of Market Value

Type Fund Benchmark Net
as of 28-Jun-2024

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class I2 Hedged EUR 10.76 0.00 0.00 16-Jul-2024 10.84 9.80 LU2677621554
Class I5 Hedged GBP 10.59 0.00 0.00 16-Jul-2024 10.80 9.81 LU2677621471
Class A2 Hedged EUR 10.19 0.00 0.00 16-Jul-2024 10.30 9.76 LU2714841868
Class A1 USD 7.48 0.01 0.13 16-Jul-2024 7.62 6.91 LU0035308682
Class D3 USD 7.51 0.01 0.13 16-Jul-2024 7.66 6.94 LU0592702145
Class A2 USD 18.43 0.00 0.00 16-Jul-2024 18.46 16.63 LU0096258446
Class I3 USD 7.65 0.00 0.00 16-Jul-2024 7.80 7.07 LU1456639035
Class I2 USD 9.72 0.00 0.00 16-Jul-2024 9.72 8.74 LU2011139206
Class D2 USD 19.42 0.01 0.05 16-Jul-2024 19.42 17.48 LU0424777026
Class A3 USD 7.49 0.01 0.13 16-Jul-2024 7.64 6.92 LU0172418690

Portfolio Managers

Portfolio Managers

Matthew Kraeger
Matthew Kraeger
Siddharth Mehta
Siddharth Mehta

Literature

Literature