Fixed Income

BGF US Dollar 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 aims to maximise the return on your investment through a combination of capital growth and income on the Fund’s assets. The Fund invests at least 80% of its total assets in fixed income securities.

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

Chart

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) 7.2 -1.4 6.1 -0.6 2.2 3.5 -1.1 8.9 7.8 -2.0
Constraint Benchmark 1 (%) 4.2 -2.0 6.0 0.5 2.6 3.5 0.0 8.7 7.5 -1.5
  From
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
Total Return (%)

as of 30-Jun-22

-1.11 7.01 7.87 0.68 -11.95
Constraint Benchmark 1 (%)

as of 30-Jun-22

-0.40 7.87 8.74 -0.33 -10.29
  1y 3y 5y 10y Incept.
-10.55 -0.83 0.65 1.46 2.65
Constraint Benchmark 1 (%) -9.12 -0.21 1.28 1.65 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-9.54 2.39 0.44 -7.59 -10.55 -2.47 3.28 15.61 66.17
Constraint Benchmark 1 (%) -8.16 2.44 1.49 -6.14 -9.12 -0.62 6.55 17.76 -

The figures shown relate to past performance. Past performance is not a reliable indicator of current or 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 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 18-Aug-22 USD 581,161,142
Share Class launch date 03-Mar-03
Fund Launch Date 07-Apr-89
Share Class Currency USD
Fund Base Currency USD
Asset Class Fixed Income
Constraint Benchmark 1 Bloomberg US Aggregate Bond Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.08%
Annual Management Fee 0.85%
Performance Fee 0.00%
Minimum Initial Investment USD 5,000.00
Minimum Subsequent Investment USD 1,000.00
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category USD Diversified Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MERCPIA
ISIN LU0028835386
SEDOL 4580456

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 29-Jul-22 1498
12m Trailing Yield as of 31-Jul-22 1.33
Standard Deviation (3y) as of 31-Jul-22 5.70%
3y Beta as of 31-Jul-22 1.066
Yield to Maturity as of 29-Jul-22 4.22
Modified Duration as of 29-Jul-22 6.21
Weighted Average YTM as of 29-Jul-22 4.16%
Effective Duration as of 29-Jul-22 6.06
Weighted Avg Maturity as of 29-Jul-22 7.74
WAL to Worst as of 29-Jul-22 7.74

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.

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

3 stars
Overall Morningstar Rating for BGF US Dollar Bond Fund, Class A1, as of 31-Jul-22 rated against 412 USD Diversified Bond Funds.

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 23-Nov-21)

Holdings

Holdings

as of 29-Jul-22
Name Weight (%)
UNITED STATES TREASURY 20.74
FEDERAL NATIONAL MORTGAGE ASSOCIATION 12.38
FEDERAL HOME LOAN MORTGAGE CORPORATION 7.16
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 5.66
BANK OF AMERICA CORP 1.87
Name Weight (%)
MORGAN STANLEY 1.39
GOLDMAN SACHS GROUP INC/THE 1.38
JPMORGAN CHASE & CO 1.13
VERIZON COMMUNICATIONS INC 0.74
AT&T INC 0.73
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29-Jul-22

% 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 29-Jul-22

% of Market Value

Type Fund Benchmark Net
as of 29-Jul-22

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class A1 USD Monthly 15.84 0.03 0.19 18-Aug-22 18.13 15.36 LU0028835386 -
Class A3 USD Monthly 15.87 0.04 0.25 18-Aug-22 18.14 15.38 LU0172417379 -
Class D2 USD None 34.25 0.07 0.20 18-Aug-22 38.57 33.09 LU0548367084 -
Class D3 USD Monthly 15.86 0.03 0.19 18-Aug-22 18.14 15.38 LU0592701923 -
Class A2 USD None 32.62 0.07 0.22 18-Aug-22 36.87 31.53 LU0096258362 -
Class A2 CZK None 792.79 7.04 0.90 18-Aug-22 825.91 735.32 LU1791174102 -
Class D2 Hedged GBP None 10.33 0.03 0.29 18-Aug-22 11.67 9.99 LU1294567448 -
Class I5 USD Quarterly 9.43 0.02 0.21 18-Aug-22 10.80 9.16 LU1718847640 -

Portfolio Managers

Portfolio Managers

Bob Miller
Managing Director

Bob Miller, Managing Director, is head of Americas Fundamental Fixed Income within BlackRock's Global Fixed Income group and a member of the Global Fixed Income Executive Committee.

Aidan Doyle
CFA, Director

Aidan Doyle, CFA, Director, is a portfolio manager within the Global Bond Team.

Chi Chen
Director

Chi Chen, Director, is a portfolio manager on the Multi-Sector Mutual Fund team within BlackRock's Global Fixed Income Investment Group.

Sam Summers
Vice President

Sam Summers, Vice President, is a portfolio manager on the Multi-Sector Mutual Funds team within the Global Fixed Income group at Blackrock.

Literature

Literature