Fixed Income

BGF US Government Mortgage Fund

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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  1y 3y 5y 10y Incept.
0.43 3.82 2.03 2.23 5.08
-4.59 2.06 0.99 1.71 4.93
Benchmark (%)

as of 31-May-2021

-0.47 3.93 2.50 2.68 6.43
  YTD 6m 1y 3y 5y 10y Incept.
-0.67 -0.43 0.43 11.90 10.59 24.73 490.07
-5.64 -5.41 -4.59 6.31 5.06 18.49 460.57
Benchmark (%)

as of 31-May-2021

-0.84 -0.52 -0.47 12.25 13.14 30.27 831.39
Performance of the Fund is calculated on NAV to NAV basis on the assumption that all dividends and distributions are reinvested, taking into account all charges which would have been payable upon such reinvestment.

Key Facts

Key Facts

Size of Fund (Millions) as of 22-Jun-2021 USD 146.072
Base Currency U.S. Dollar
Fund Inception 02-Aug-1985
Share Class Currency U.S. Dollar
Share Class Inception Date 02-Aug-1985
Additional Currencies -
Asset Class Fixed Income
Morningstar Category USD Government Bond
Benchmark FTSE Mortgage
Distribution Frequency N/A
ISIN LU0096258446
Bloomberg Ticker ME2LU LX
Management Fee (incl. Distribution Fee, if any) 0.75%
Initial Charge 5.00%

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 28-May-2021 1.72
Modified Duration as of 28-May-2021 4.26
Effective Duration as of 28-May-2021 4.60yrs
3y Volatility as of 31-May-2021 2.11
5yr Volatility as of 31-May-2021 2.13
Since Share Inception – Volatility as of 31-May-2021 3.07
Since Share Inception - Beta as of 31-May-2021 0.86

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.

Holdings

Holdings

as of 28-May-2021
Name Weight (%)
UMBS 30YR TBA(REG A) 34.16
GNMA2 30YR 28.50
FNMA 30YR 2020 PRODUCTION 13.07
FHLMC 30YR UMBS 12.90
GNMA2 30YR 2020 PRODUCTION 5.49
Name Weight (%)
UMBS 15YR TBA(REG B) 4.98
FNMA 30YR 2017 PRODUCTION 2.17
FGOLD 30YR 4% HLB 150K 2011 1.04
FNMA 30YR 3% LB200K 2020 0.74
FNMA 15YR 2.5% LB200K 2020 0.73

Exposure Breakdowns

Exposure Breakdowns

as of 28-May-2021

% of Weight

Type Fund Benchmark Net
as of 28-May-2021

% of Weight

Type Fund Benchmark Net
as of 28-May-2021

% 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%

Ratings

Pricing & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of ISIN
A2 USD N/A 20.70 -0.01 -0.05 22-Jun-2021 LU0096258446
D2 USD N/A 21.57 -0.02 -0.09 22-Jun-2021 LU0424777026
A1 USD Monthly (Daily Calculation) 9.15 -0.01 -0.11 22-Jun-2021 LU0035308682
D3 USD Monthly 9.19 0.00 0.00 22-Jun-2021 LU0592702145
A3 USD Monthly 9.16 -0.01 -0.11 22-Jun-2021 LU0172418690

Portfolio Managers

Portfolio Managers

Akiva Dickstein
Akiva Dickstein
Matthew Kraeger
Matthew Kraeger
Bob Miller
Bob Miller

Documents

Documents