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Fixed Income

BGF Global Corporate Bond Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets.

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

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Performance

Performance

  • Returns

  From
30-Sep-2014
To
30-Sep-2015
From
30-Sep-2015
To
30-Sep-2016
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of 30-Sep-19

0.35 7.64 0.81 -2.13 9.89

The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in CAD, hedged fund 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

Chart

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
View full table

Key Facts

Key Facts

Size of Fund (Millions) as of 14-Oct-19 USD 2,013.515
Base Currency U.S. Dollar
Fund Launch Date 19-Oct-07
Share Class launch date 29-Aug-12
Asset Class Fixed Income
Morningstar Category Other Bond
Benchmark Index BBG Barc Global Agg Corporate Index, 100% USD Hedged
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU0816460157
Bloomberg Ticker BRGCA3C
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B8L2NY5
Bloomberg Benchmark Ticker LGCPTRUH
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment CAD 5000
Minimum Subsequent Investment CAD 1000
Use of Income Distributing

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 08-Apr-19)

Holdings

Holdings

as of 30-Sep-19
Name Weight (%)
ISH EUR HY CRP BND ETF EUR DIST 2.54
ISHARES EURO ULTRASHORT BOND UCITS 1.33
BAWAG PSK BANK FUER ARBEIT UND WIR MTN RegS 0.375 09/03/2027 1.24
VERIZON COMMUNICATIONS INC 4.272 01/15/2036 1.23
COOPERATIEVE RABOBANK UA RegS 3.25 12/31/2049 1.07
Name Weight (%)
BAWAG GROUP AG MTN RegS 2.375 03/26/2029 0.86
WELLS FARGO & COMPANY MTN 3.196 06/17/2027 0.79
CITIGROUP INC 3.352 04/24/2025 0.72
JPMORGAN CHASE & CO 4.452 12/05/2029 0.67
ANHEUSER-BUSCH COMPANIES LLC 4.7 02/01/2036 0.67
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-19

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-19

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-19

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Sep-19

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-19

% of Market Value

Type Fund Benchmark Net
as of 30-Sep-19

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class A3 Hedged CAD Monthly 11.15 -0.01 -0.09 11.35 10.17 - LU0816460157 - -
Class I2 USD None 11.87 -0.01 -0.08 12.02 10.53 - LU1181254019 - -
Class X4 Hedged GBP Annual 9.61 -0.01 -0.10 10.02 8.88 - LU0414062165 - -
Class A6 USD Monthly 11.23 -0.01 -0.09 11.44 10.29 - LU0788109634 - -
Class A8 Hedged CNH Monthly 101.73 -0.14 -0.14 103.63 93.61 - LU1220227653 - -
Class D2 Hedged GBP None 10.39 -0.01 -0.10 10.55 9.39 - LU1222731728 - -
Class A8 Hedged AUD Monthly 11.23 -0.02 -0.18 11.45 10.35 - LU0871639976 - -
Class A2 Hedged EUR None 13.22 -0.02 -0.15 13.45 12.12 - LU0297942434 - -
Class I2 Hedged EUR None 10.48 -0.02 -0.19 10.66 9.56 - LU1625162489 - -
Class D5 Hedged GBP None 10.52 -0.02 -0.19 10.74 9.73 - LU1814255474 - -
Class A2 USD None 14.73 -0.03 -0.20 14.94 13.15 - LU0297942194 - -
Class A6 Hedged SGD Monthly 10.00 -0.01 -0.10 10.20 9.22 - LU1435395121 - -
Class D2 USD None 15.47 -0.02 -0.13 15.68 13.75 - LU0326960662 - -
Class A4 Hedged EUR Annual 9.18 -0.01 -0.11 9.50 8.56 - LU0303846876 - -
Class A5 USD Quarterly 11.16 -0.01 -0.09 11.36 10.14 - LU0825403933 - -
Class A8 Hedged NZD Monthly 9.90 -0.01 -0.10 10.09 9.11 - LU1149717313 - -
Class D2 Hedged EUR None 13.87 -0.02 -0.14 14.10 12.66 - LU0326951752 - -
Class A6 Hedged HKD Monthly 83.60 -0.13 -0.16 85.25 77.22 - LU0788109550 - -
Class A3 Hedged GBP Monthly 10.70 -0.02 -0.19 10.91 9.86 - LU0816460231 - -
Class A3 Hedged AUD Monthly 12.17 -0.02 -0.16 12.39 11.11 - LU0816460074 - -
Class A3 Hedged NZD Monthly 12.32 -0.01 -0.08 12.54 11.23 - LU0803752475 - -
Class A2 Hedged SEK None 105.08 -0.16 -0.15 106.88 96.18 - LU1162516634 - -
Class I4 Hedged GBP Annual 10.27 -0.01 -0.10 10.66 9.48 - LU1403442228 - -

Portfolio Managers

Portfolio Managers

Andreas Doerrenhaus
Andreas Doerrenhaus
Michael Krautzberger
Head, BlackRock’s Pan-European Fixed Income Team

     

Literature

Literature