Fixed Income

BGF US Dollar Short Duration 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 investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. 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


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 USD, 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
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Key Facts

Key Facts

Size of Fund (Millions) as of 18-Feb-19 USD 1,911.747
Base Currency U.S. Dollar
Fund Launch Date 31-Oct-02
Share Class launch date 01-Sep-03
Asset Class Fixed Income
Morningstar Category USD Diversified Bond - Short Term
Benchmark Index ICE BofAML Government Corporate 1-3 Yr Index (B1A0)
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU0172419748
Bloomberg Ticker MLULDUA
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL 7659751
Bloomberg Benchmark Ticker ML1-3GC
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Modified Duration as of 31-Jan-19 1.93
3y Volatility - Benchmark as of 31-Jan-19 0.79
5y Volatility - Benchmark as of 31-Jan-19 0.75
5y Beta as of 31-Jan-19 0.703

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for BGF US Dollar Short Duration Bond Fund, Class A3, as of 31-Jan-19 rated against 210 USD Diversified Bond - Short Term Funds.

Holdings

Holdings

as of 31-Jan-19
Name Weight (%)
TREASURY NOTE 1.75 09/30/2019 3.64
TREASURY NOTE 1 11/30/2019 3.03
TREASURY NOTE 1.375 02/29/2020 2.07
TREASURY NOTE 1.5 11/30/2019 1.81
TREASURY NOTE 1.25 02/29/2020 1.29
Name Weight (%)
ITALY (REPUBLIC OF) RegS 4.5 03/01/2019 1.24
TREASURY NOTE (2OLD) 2.875 11/15/2021 1.16
SOFI_17-D A2FX 144A 1.07
TREASURY NOTE 1.25 01/31/2020 1.03
TREASURY NOTE 1.75 11/30/2019 0.98
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settlement 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.
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-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 USD Monthly 8.42 0.00 0.00 8.47 8.35 - LU0172419748 - -
Class I2 USD None 10.38 0.00 0.00 10.38 10.15 - LU1479925726 - -
Class A3 EUR Monthly 7.44 -0.03 -0.40 7.47 6.79 - LU0172420597 - -
Class D2 Hedged EUR None 9.81 0.00 0.00 9.92 9.75 - LU1423762027 - -
Class I2 Hedged EUR None 9.85 0.00 0.00 9.94 9.78 - LU1423762613 - -
Class D3 USD Monthly 9.67 0.00 0.00 9.73 9.59 - LU0592702228 - -
Class I5 USD USD - 10.08 0.01 0.10 10.08 9.96 - LU1883300532 - -
Class A2 USD None 13.35 0.00 0.00 13.35 13.11 - LU0154237225 - -
Class A3 Hedged SGD Monthly 9.54 0.00 0.00 9.69 9.48 - LU1062843773 - -
Class D2 USD None 13.64 0.00 0.00 13.64 13.35 - LU0827887356 - -
Class A2 Hedged EUR None 9.90 0.00 0.00 10.04 9.84 - LU0839485744 - -
Class A1 USD Daily 8.42 0.00 0.00 8.47 8.35 - LU0155445546 - -

Portfolio Managers

Portfolio Managers

Scott MacLellan
Scott MacLellan
Thomas Musmanno, CFA
Thomas Musmanno, CFA

Literature

Literature