Fixed Income

BGF Global Corporate Bond Fund

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Distributions

Ex-Date Total Distribution
View full table
This chart has been left intentionally blank as there is less than one year's performance data.
Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.

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 ZAR, 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 29/Nov/2024
USD 1,681,467,021
Fund Launch Date
19/Oct/2007
Fund Base Currency
USD
SFDR Classification
Other
Ongoing Charges Figures
1.02%
ISIN
LU2725777655
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Other Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
BNTZJD2
Share Class launch date
20/Dec/2023
Share Class Currency
ZAR
Asset Class
Fixed Income
Initial Charge
5.00%
Management Fee
0.80%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGLCORA

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Oct/2024
460
Standard Deviation (3y)
as of -
-
Yield to Maturity
as of 31/Oct/2024
4.74
Weighted Average YTM
as of 31/Oct/2024
4.61%
Weighted Avg Maturity
as of 31/Oct/2024
8.54
12 Month Trailing Dividend Distribution Yield
as of 31/Dec/2024
-
3y Beta
as of -
-
Modified Duration
as of 31/Oct/2024
6.44
Effective Duration
as of 31/Oct/2024
6.32
WAL to Worst
as of 31/Oct/2024
8.54

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Risk Indicator

Risk Indicator

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

Ratings

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
DEUTSCHE BAHN FINANCE GMBH PNC5.5 RegS 0.95 12/31/2079 1.43
WORLDLINE SA RegS 0 07/30/2026 0.90
NC5 VOLKSWAGEN INTERNATIONAL FINA RegS 3.5 12/31/2079 0.87
OHIO POWER CO 5.65 06/01/2034 0.83
ENBW ENERGIE BADEN WUERTTEMBERG AG RegS 1.125 11/05/2079 0.83
Name Weight (%)
SES SA RegS 2.875 12/31/2079 0.74
DUKE ENERGY CORP 3.85 06/15/2034 0.73
UBS GROUP AG MTN RegS 7.75 03/01/2029 0.68
WINTERSHALL DEA FINANCE 2 BV RegS 2.4985 12/31/2079 0.65
TENNET HOLDING BV RegS 2.374 12/31/2079 0.64
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A10 Hedged ZAR 99.12 -0.39 -0.39 29/Nov/2024 101.32 96.23 LU2725777655
Class A6 Hedged SGD 8.38 0.00 0.00 29/Nov/2024 8.57 8.16 LU1435395121
Class A6 Hedged JPY 955.00 -1.00 -0.10 29/Nov/2024 1,003.00 945.00 LU2725777739
Class A5 USD 10.46 0.03 0.29 29/Nov/2024 10.63 9.95 LU0825403933
Class A10 USD 10.34 -0.02 -0.19 29/Nov/2024 10.57 10.05 LU2708803122
Class D5 Hedged GBP 9.39 0.03 0.32 29/Nov/2024 9.54 8.94 LU1814255474
Class A6 USD 9.89 -0.01 -0.10 29/Nov/2024 10.07 9.53 LU0788109634
Class A3G USD 10.32 -0.01 -0.10 29/Nov/2024 10.51 9.94 LU2620702048
Class I2 USD 12.74 0.04 0.31 29/Nov/2024 12.85 11.67 LU1181254019
Class D2 USD 16.48 0.05 0.30 29/Nov/2024 16.62 15.12 LU0326960662
Class I2 Hedged EUR 10.17 0.03 0.30 29/Nov/2024 10.28 9.49 LU1625162489
Class A3 Hedged NZD 11.12 0.00 0.00 29/Nov/2024 11.30 10.65 LU0803752475
Class A2 Hedged EUR 12.44 0.03 0.24 29/Nov/2024 12.59 11.67 LU0297942434
Class A8 Hedged NZD 8.57 -0.01 -0.12 29/Nov/2024 8.73 8.26 LU1149717313
Class A2 USD 15.34 0.05 0.33 29/Nov/2024 15.48 14.14 LU0297942194
Class D2 Hedged GBP 10.52 0.03 0.29 29/Nov/2024 10.61 9.71 LU1222731728
Class A8 Hedged AUD 9.72 0.00 0.00 29/Nov/2024 9.88 9.34 LU0871639976
Class A6 Hedged HKD 71.16 -0.06 -0.08 29/Nov/2024 72.67 69.08 LU0788109550
Class A10 Hedged CNH 102.24 -0.06 -0.06 29/Nov/2024 105.07 100.23 LU2708803395
Class A4 Hedged EUR 7.78 0.02 0.26 29/Nov/2024 8.06 7.56 LU0303846876
Class A8 Hedged CNH 88.41 0.18 0.20 29/Nov/2024 89.95 85.00 LU1220227653
Class A3 Hedged GBP 9.49 0.00 0.00 29/Nov/2024 9.64 9.10 LU0816460231
Class I4 Hedged GBP 9.17 0.03 0.33 29/Nov/2024 9.49 8.79 LU1403442228
Class D2 Hedged EUR 13.35 0.04 0.30 29/Nov/2024 13.51 12.47 LU0326951752
Class A3 Hedged AUD 10.68 0.00 0.00 29/Nov/2024 10.85 10.28 LU0816460074
Class X4 Hedged GBP 8.46 0.03 0.36 29/Nov/2024 8.83 8.15 LU0414062165
Class A3 Hedged CAD 10.08 0.00 0.00 29/Nov/2024 10.26 9.70 LU0816460157
Class A2 Hedged SEK 99.85 0.29 0.29 29/Nov/2024 101.14 93.95 LU1162516634

Portfolio Managers

Portfolio Managers

Max Huefner
Max Huefner
Daniel Chen
Daniel Chen

Literature

Literature