Fixed Income

BGF Global Corporate Bond Fund

Overview

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Performance

Performance

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Distributions

Ex-Date Distribution
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  1y 3y 5y 10y Incept.
- - - - -
- - - - -
Benchmark (%) - - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
5.22 1.36 4.47 5.12 - - - - 11.09
-0.04 -3.71 -0.75 -0.14 - - - - 5.53
Benchmark (%) 5.32 1.57 5.01 5.21 - - - - 11.48
This chart has been left intentionally blank as there is less than one year's performance data.
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 USD, 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

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

Key Facts

Key Facts

Net Assets of Fund
as of 04-Oct-2024
USD 1,795,053,261
Fund Inception
19-Oct-2007
Fund Base Currency
USD
Benchmark
BBG Bar Glb Agg Corp Bd USD Hedged
Initial Charge
5.00%
ISIN
LU2708803122
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
BGCORAC
MAS ESG Fund
No
Share Class Inception Date
15-Nov-2023
Share Class Currency
USD
Asset Class
Fixed Income
SFDR Classification
Other
Management Fee
0.80%
Management Fee (incl. Distribution Fee, if any)
0.80%
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BQ80NN7

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30-Aug-2024
530
3y Beta
as of -
-
Modified Duration
as of 30-Aug-2024
6.14
Weighted Avg Maturity
as of 30-Aug-2024
8.44
5Y Annualised Volatility
as of -
-
Standard Deviation (3y)
as of -
-
Yield to Maturity
as of 30-Aug-2024
4.81
Effective Duration
as of 30-Aug-2024
6.02yrs
WAL to Worst
as of 30-Aug-2024
8.44
Since Share Inception – Annualised Volatility
as of 30-Sept-2024
5.51

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.

The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of 21-Sept-2024
A
MSCI ESG Quality Score (0-10)
as of 21-Sept-2024
6.57
Fund Lipper Global Classification
as of 21-Sept-2024
Bond Global Corporates USD
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Sept-2024
230.69
MSCI ESG % Coverage
as of 21-Sept-2024
96.22
MSCI ESG Quality Score - Peer Percentile
as of 21-Sept-2024
13.33
Funds in Peer Group
as of 21-Sept-2024
105
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Sept-2024
92.00
All data is from MSCI ESG Fund Ratings as of 21-Sept-2024, based on holdings as of 30-Apr-2024. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage 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.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of 30-Aug-2024
1.35%
MSCI - Nuclear Weapons
as of 30-Aug-2024
1.62%
MSCI - Civilian Firearms
as of 30-Aug-2024
0.00%
MSCI - Tobacco
as of 30-Aug-2024
0.42%
MSCI - UN Global Compact Violators
as of 30-Aug-2024
0.57%
MSCI - Thermal Coal
as of 30-Aug-2024
0.86%
MSCI - Oil Sands
as of 30-Aug-2024
0.00%

Business Involvement Coverage
as of 30-Aug-2024
86.27%
Percentage of Fund not covered
as of 30-Aug-2024
12.12%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 1.23% and for Oil Sands 0.14%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

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.

Ratings

Ratings

Holdings

Holdings

as of 30-Aug-2024
Name Weight (%)
DEUTSCHE BAHN FINANCE GMBH PNC5.5 RegS 0.95 12/31/2079 1.46
NC5 VOLKSWAGEN INTERNATIONAL FINA RegS 3.5 12/31/2079 0.89
ROLLS-ROYCE PLC MTN RegS 1.625 05/09/2028 0.85
ENBW ENERGIE BADEN WUERTTEMBERG AG RegS 1.125 11/05/2079 0.85
OHIO POWER CO 5.65 06/01/2034 0.85
Name Weight (%)
SES SA RegS 2.875 12/31/2079 0.69
UBS GROUP AG MTN RegS 7.75 03/01/2029 0.69
TENNET HOLDING BV RegS 2.374 12/31/2079 0.67
JEFFERIES GMBH MTN RegS 3.72255 07/22/2026 0.66
WINTERSHALL DEA FINANCE 2 BV RegS 2.4985 12/31/2079 0.66

Exposure Breakdowns

Exposure Breakdowns

as of 30-Aug-2024

% of Weight

Type Fund Benchmark Net
as of 30-Aug-2024

% of Weight

Type Fund Benchmark Net
as of 30-Aug-2024

% of Weight

Type Fund Benchmark Net
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 30-Aug-2024

% of Weight

Type Fund Benchmark Net
as of 30-Aug-2024

% 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%

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A10 USD 10.45 -0.06 -0.57 04-Oct-2024 10.57 10.00 LU2708803122
A3 Hedged NZD 11.19 -0.06 -0.53 04-Oct-2024 11.30 10.18 LU0803752475
A8 Hedged CNH 89.05 -0.45 -0.50 04-Oct-2024 89.95 81.27 LU1220227653
A8 Hedged NZD 8.64 -0.05 -0.58 04-Oct-2024 8.73 7.90 LU1149717313
A5 USD 10.46 -0.06 -0.57 04-Oct-2024 10.63 9.48 LU0825403933
A6 Hedged SGD 8.47 -0.04 -0.47 04-Oct-2024 8.57 7.89 LU1435395121
A6 Hedged HKD 71.84 -0.37 -0.51 04-Oct-2024 72.67 66.45 LU0788109550
D5 Hedged GBP 9.38 -0.05 -0.53 04-Oct-2024 9.54 8.55 LU1814255474
A6 USD 9.97 -0.05 -0.50 04-Oct-2024 10.07 9.12 LU0788109634
Class A10 Hedged ZAR 100.12 -0.48 -0.48 04-Oct-2024 101.32 96.23 LU2725777655
D2 USD 16.48 -0.08 -0.48 04-Oct-2024 16.62 14.36 LU0326960662
A2 USD 15.35 -0.07 -0.45 04-Oct-2024 15.48 13.43 LU0297942194
A3 Hedged GBP 9.55 -0.05 -0.52 04-Oct-2024 9.64 8.71 LU0816460231
A3 Hedged CAD 10.16 -0.05 -0.49 04-Oct-2024 10.26 9.29 LU0816460157
D2 Hedged EUR 13.38 -0.07 -0.52 04-Oct-2024 13.51 11.87 LU0326951752
A2 Hedged SEK 100.23 -0.50 -0.50 04-Oct-2024 101.14 89.48 LU1162516634
A4 Hedged EUR 7.80 -0.04 -0.51 04-Oct-2024 8.06 7.20 LU0303846876
A3 Hedged AUD 10.75 -0.05 -0.46 04-Oct-2024 10.85 9.88 LU0816460074
D2 Hedged GBP 10.52 -0.05 -0.47 04-Oct-2024 10.61 9.23 LU1222731728
A3G USD 10.40 -0.05 -0.48 04-Oct-2024 10.51 9.53 LU2620702048
A2 Hedged EUR 12.48 -0.06 -0.48 04-Oct-2024 12.59 11.11 LU0297942434
A8 Hedged AUD 9.78 -0.05 -0.51 04-Oct-2024 9.88 8.94 LU0871639976

Portfolio Managers

Portfolio Managers

Max Huefner
Max Huefner
Daniel Chen
Daniel Chen

Documents

Documents