Fixed Income

BGF US Government Mortgage Impact Fund

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.

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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Distributions

Ex-Date Distribution
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  1y 3y 5y 10y Incept.
-0.10 4.31 2.10 2.36 2.61
-5.09 2.55 1.06 1.84 2.11
Benchmark (%)

as of 30-Sep-2021

-0.53 3.95 2.22 2.43 2.72
  YTD 6m 1y 3y 5y 10y Incept.
-0.55 0.25 -0.10 13.51 10.95 26.32 30.86
-5.53 -4.76 -5.09 7.83 5.40 20.01 24.32
Benchmark (%)

as of 30-Sep-2021

-0.87 0.34 -0.53 12.31 11.61 27.11 32.30
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 15-Oct-2021 USD 155.287
Base Currency U.S. Dollar
Fund Inception 02-Aug-1985
Share Class Currency U.S. Dollar
Share Class Inception Date 19-Apr-2011
Additional Currencies -
Asset Class Fixed Income
Morningstar Category USD Government Bond
Benchmark Bloomberg Barclays US MBS Index
Distribution Frequency Monthly
ISIN LU0592702145
Bloomberg Ticker BGFGMD3
Management Fee (incl. Distribution Fee, if any) 0.40%
Initial Charge 5.00%

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Sep-2021 1.86
Modified Duration as of 30-Sep-2021 4.80
Effective Duration as of 30-Sep-2021 4.93yrs
3y Volatility as of 30-Sep-2021 2.04
5yr Volatility as of 30-Sep-2021 2.13
Since Share Inception – Volatility as of 30-Sep-2021 2.12
Since Share Inception - Beta as of 30-Sep-2021 0.93

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 30-Sep-2021
Name Weight (%)
GNMA2 30YR 48.31
UMBS 30YR TBA(REG A) 40.83
UMBS 15YR TBA(REG B) 9.31
FNMA 30YR 2021 PRODUCTION 9.19
FNMA 30YR 2020 PRODUCTION 8.05
Name Weight (%)
GNMA2 30YR 2020 PRODUCTION 5.38
FHLMC 30YR UMBS SUPER 4.27
UMBS 30YR TBA 2.29
FHLMC 30YR UMBS 2.13
FNMA 30YR 3% LTV > 95 2021 1.52

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-2021

% of Weight

Type Fund Benchmark Net
as of 30-Sep-2021

% of Weight

Type Fund Benchmark Net
as of 30-Sep-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

Ratings

Morningstar Rating

4 stars
As of 30-Sep-2021

Pricing & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of ISIN
D3 USD Monthly 9.12 0.02 0.22 15-Oct-2021 LU0592702145
A2 USD N/A 20.73 0.03 0.14 15-Oct-2021 LU0096258446
D2 USD N/A 21.64 0.04 0.19 15-Oct-2021 LU0424777026
A3 USD Monthly 9.09 0.01 0.11 15-Oct-2021 LU0172418690
A1 USD Monthly (Daily Calculation) 9.09 0.02 0.22 15-Oct-2021 LU0035308682

Portfolio Managers

Portfolio Managers

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

Documents

Documents