Fixed Income

BGF Fixed Income Global Opportunities Fund

  • NAV as of 09-Jun-2023 GBP 11.32
    52 WK: 10.96 - 11.53
  • 1 Day NAV Change as of 09-Jun-2023 0.00 (0.00%)
  • Morningstar Rating

Overview

Investment Approach

The Fixed Income Global Opportunities Fund seeks to maximise total return. The Fund invests at least 70% of its total assets in fixed income transferable securities denominated in various currencies issued by governments, agencies and companies worldwide. The full spectrum of available securities, including non-investment grade, may be utilised. Currency exposure is flexibly managed.
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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.
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  1y 3y 5y 10y Incept.
Total Return (%) -2.25 0.09 0.54 - 1.28
Total Return (%) Base Share Class -1.60 0.20 1.19 1.57 2.43
Total Return – Max. IC applied (%) -7.14 -1.61 -0.49 - 0.74
Total Return – Max. IC applied (%) Base Share Class -6.52 -1.50 0.16 1.05 2.10
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 0.80 -0.44 0.44 1.16 -2.25 0.27 2.73 - 12.90
Total Return (%) Base Share Class 1.02 -0.34 0.54 1.58 -1.60 0.61 6.10 16.82 47.90
Total Return – Max. IC applied (%) -4.24 -5.42 -4.58 -3.89 -7.14 -4.75 -2.41 - 7.26
Total Return – Max. IC applied (%) Base Share Class -4.03 -5.32 -4.48 -3.50 -6.52 -4.42 0.79 10.98 40.50
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.

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 GBP 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 09-Jun-2023 USD 7,439,350,868
Share Class Inception Date 27-Nov-2013
Fund Inception 31-Jan-2007
Share Class Currency GBP
Fund Base Currency USD
Asset Class Fixed Income
Benchmark -
SFDR Classification Other
Initial Charge 5.00%
Management Fee (incl. Distribution Fee, if any) 0.50%
Performance Fee 0.00%
Minimum Initial Investment GBP 100000
Minimum Subsequent Investment GBP 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Flexible Bond - GBP Hedged
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MLIHGD2
ISIN LU0278463947
SEDOL B1PF5P6
MAS ESG Fund No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-May-2023 2,836
Standard Deviation (3y) as of 31-May-2023 3.59%
Yield to Maturity as of 31-May-2023 6.74
Modified Duration as of 31-May-2023 3.32
Effective Duration as of 31-May-2023 2.83yrs
Weighted Avg Maturity as of 31-May-2023 7.17
WAL to Worst as of 31-May-2023 7.17
5Y Annualised Volatility as of 31-May-2023 4.95
Since Share Inception – Annualised Volatility as of 31-May-2023 3.76

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 phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves 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 31-May-2023
Name Weight (%)
TREASURY NOTE 1.25 11/30/2026 5.36
UMBS 30YR TBA(REG A) 4.98
TREASURY NOTE 2.875 05/15/2032 4.77
FNMA 30YR UMBS SUPER 3.16
TREASURY BOND 2.875 05/15/2052 2.91
Name Weight (%)
TREASURY (CPI) NOTE 0.625 01/15/2024 1.81
TREASURY (CPI) NOTE 0.5 04/15/2024 1.63
GNMA2 30YR TBA(REG C) 1.45
SPAIN (KINGDOM OF) 2.55 10/31/2032 1.41
TREASURY NOTE 2.625 05/31/2027 1.35

Exposure Breakdowns

Exposure Breakdowns

as of 31-May-2023

% of Weight

Type Fund
as of 31-May-2023

% 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 country where the issuer of the securities carries out much of their business.
as of 31-May-2023

% of Weight

Type Fund
as of 31-May-2023

% of Weight

Type Fund
as of 31-May-2023

% of Weight

Type Fund
as of 31-May-2023

% of Weight

Type Fund
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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
D2 Hedged GBP N/A 11.32 0.00 0.00 09-Jun-2023 11.53 10.96 LU0278463947 -
A2 Hedged SGD N/A 20.96 0.00 0.00 09-Jun-2023 21.37 20.34 LU0278465488 -
A2 Hedged PLN N/A 16.63 0.01 0.06 09-Jun-2023 16.71 15.77 LU0480534915 -
D2 Hedged PLN N/A 17.54 0.01 0.06 09-Jun-2023 17.60 16.58 LU0827879684 -
D2 USD N/A 15.62 0.01 0.06 09-Jun-2023 15.77 15.01 LU0278469043 -
D4 Hedged EUR Annually 8.49 0.00 0.00 09-Jun-2023 8.95 8.30 LU1340096590 -
A2 Hedged EUR N/A 9.44 0.00 0.00 09-Jun-2023 9.82 9.26 LU0278453476 -
A6 USD Monthly 10.94 0.00 0.00 09-Jun-2023 11.40 10.77 LU1051767835 -
D5 USD Quarterly 10.15 0.00 0.00 09-Jun-2023 10.49 9.91 LU0737136415 -
D4 EUR Annually 12.19 0.00 0.00 09-Jun-2023 13.45 11.85 LU1085283973 -
A2 Hedged GBP N/A 10.27 0.00 0.00 09-Jun-2023 10.51 9.98 LU1181257202 -
A5 Hedged SGD Quarterly 13.63 0.01 0.07 09-Jun-2023 14.21 13.40 LU0280468637 -
D5 Hedged CHF Quarterly 8.22 0.01 0.12 09-Jun-2023 8.82 8.17 LU1681056062 -
D5 Hedged EUR Quarterly 6.14 0.00 0.00 09-Jun-2023 6.53 6.10 LU0827879841 -
A5 Hedged EUR Quarterly 6.12 0.00 0.00 09-Jun-2023 6.51 6.08 LU0280467159 -
D2 Hedged EUR N/A 10.20 0.00 0.00 09-Jun-2023 10.55 9.98 LU0278456651 -
A5 USD Quarterly 9.66 0.01 0.10 09-Jun-2023 9.98 9.43 LU0280465617 -
A2 USD N/A 14.83 0.01 0.07 09-Jun-2023 15.00 14.29 LU0278466700 -
A2 Hedged JPY N/A 986.00 0.00 0.00 09-Jun-2023 1,041.00 981.00 LU1005243099 -
D4 Hedged CAD Annually 9.38 0.00 0.00 09-Jun-2023 9.66 9.05 LU1270847186 -
D2 Hedged SGD N/A 22.10 0.01 0.05 09-Jun-2023 22.42 21.38 LU0827879767 -
A1 USD Monthly 9.60 0.01 0.10 09-Jun-2023 9.97 9.44 LU1003076855 -
A4 Hedged EUR Annually 8.47 0.01 0.12 09-Jun-2023 8.92 8.31 LU0973708182 -
A6 Hedged HKD Monthly 81.05 0.02 0.02 09-Jun-2023 85.66 80.53 LU1051769021 -
D2 EUR N/A 14.50 0.00 0.00 09-Jun-2023 15.77 14.10 LU1005243503 -
A8 Hedged CNH Monthly 85.94 0.01 0.01 09-Jun-2023 91.73 85.56 LU1165523371 -
A1 EUR Monthly 8.91 0.00 0.00 09-Jun-2023 9.94 8.70 LU1005244220 -
A3 EUR Monthly 8.90 0.00 0.00 09-Jun-2023 9.94 8.72 LU1005243339 -
A3 USD Monthly 9.59 0.00 0.00 09-Jun-2023 9.96 9.44 LU1003076939 -
A2 Hedged CHF N/A 9.30 0.00 0.00 09-Jun-2023 9.76 9.21 LU1121327164 -
D2 Hedged CHF N/A 10.17 0.00 0.00 09-Jun-2023 10.62 10.04 LU0972027022 -
A8 Hedged AUD Monthly 8.25 0.00 0.00 09-Jun-2023 8.67 8.16 LU1165522480 -
A4 USD Annually 9.66 0.00 0.00 09-Jun-2023 9.90 9.31 LU1153584997 -
D4 Hedged GBP Annually 4.43 0.00 0.00 09-Jun-2023 4.60 4.30 LU1294567364 -
A2 Hedged SEK N/A 97.33 0.02 0.02 09-Jun-2023 100.77 95.34 LU1121320748 -
A2 EUR N/A 13.77 0.00 0.00 09-Jun-2023 15.03 13.40 LU1005243255 -

Ratings

Ratings

Morningstar Rating

3 stars
As of 31-May-2023

Morningstar Analyst Rating

Morningstar Analyst Rating - Gold
Effective 14-Feb-2023

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Russell Brownback
Russell Brownback
Managing Director, Head of Global Macro Positioning for Fixed-Income

  

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Russell J Brownback, Managing Director, is Head of Global Macro Positioning for Fixed-Income and a member of the Fundamental Fixed-Income Executive Committee. Prior to joining BlackRock in 2009, Mr. Brownback was a Senior Partner with R3 Capital Partners. From 1992 to 2008, he was with Lehman Brothers, most recently as a Managing Director and proprietary trader/portfolio manager for the Global Principal Strategies team. Previously, he was the head of the firm's Corporate and Emerging Markets bond trading desks.

 

Mr. Brownback earned a BA degree in economics from Hobart College in 1987 and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University in 1992. He has been an adjunct professor for both graduate and undergraduate studies at Syracuse University's Whitman School of Business.

Aidan Doyle, CFA
Aidan Doyle, CFA
Managing Director, Portfolio Manager

  

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Aidan Doyle, CFA, Managing Director, is a portfolio manager within the Global Bond Team. He is co-lead manager for the BGF World Bond Fund, the BGF Global Government Bond Fund, the BGF Fixed Income Global Opportunities Fund, BGF ESG Fixed Income Global Opportunities Fund, and the BGF US Dollar Bond Fund.

 

Mr. Doyle began his career at BlackRock in 2010 when he joined the Global Bond Team as a portfolio manager. He is responsible for developing macro directional and relative value investment strategies and managing the team's global aggregate and global government bond portfolios.

 

Mr. Doyle. has a MSc degree in Finance from the Imperial College London, with a focus on fixed income and derivatives. He earned a BA degree in Economics, with honors, from Trinity College Dublin, with a focus on financial economics.

Documents

Documents