Fixed Income

BGIO

2022 Global Income Opportunity Trust

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y Incept.
-3.69 2.18 - - 3.20
Market Price (%) -3.50 1.76 - - 2.43
  YTD 1m 1y 3y 5y 10y Incept.
-5.91 - -3.69 6.69 - - 11.96
Market Price (%) -8.02 - -3.50 5.36 - - 9.02
  2015 2016 2017 2018 2019
Total Return (%) - - - -4.11 16.11
Market Price (%) - - - -9.24 26.46

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Key Facts

Key Facts

Net Assets as of Nov 30, 2020 $200,932,078
Managed Assets -
Share Class launch date Feb 23, 2017
Exchange New York Stock Exchange Inc.
Asset Class Fixed Income
Morningstar Category High Yield Bond
Lipper Classification Global Income Funds
CUSIP 09258P104
Management Fee 0.60%
Gross Expense Ratio 1.70%
Shares Outstanding as of Nov 30, 2020 22,147,272
Number of Holdings as of Oct 30, 2020 676
Premium Discount as of Nov 30, 2020 -2.76%

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate as of Nov 27, 2020 6.78%
Yield to Worst as of Oct 30, 2020 6.41%
WAL to Worst as of Oct 30, 2020 6.78 yrs
Leverage as of Oct 30, 2020 $ 33,371,703.00
% Leveraged as of Oct 30, 2020 14.66%
% Insured as of Oct 30, 2020 0.42%
% Overwritten with Swaptions as of Feb 28, 2019 5.33
Effective Duration as of Oct 30, 2020 2.77 yrs

Ratings

Holdings

Holdings

as of Oct 30, 2020
Issuer Weight (%)
TRANSDIGM INC 1.31
HCA INC 1.23
CNF_02-1-M2 1.15
PETROBRAS GLOBAL FINANCE BV 1.11
COLOMBIA (REPUBLIC OF) 0.87
Issuer Weight (%)
EGYPT (ARAB REPUBLIC OF) 0.85
BAYC_07-6A-A4A 0.85
TAYLOR MORRISON COMMUNITIES INC 0.84
MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP 0.80
HOWMET AEROSPACE INC 0.80

Exposure Breakdowns

Exposure Breakdowns

as of Oct 30, 2020

% of Market Value

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as of Oct 30, 2020

% of Market Value

Type Fund
as of Oct 30, 2020

% of Market Value

Type Fund
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% of Market Value

Type Fund
as of Oct 30, 2020

% of Market Value

Type Fund
as of Oct 30, 2020

% of Market Value

Type Fund
as of Oct 30, 2020

% of Market Value

Type Fund
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

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.

Portfolio Managers

Portfolio Managers

Rick Rieder
Chief Investment Officer of Global Fixed Income and Head of the Global Allocation Team

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. Mr. Rieder is a member of BlackRock’s Executive Sub-Committee on Investments, a member of BlackRock's Global Operating Committee, and Chairman of the firm-wide BlackRock Investment Council.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and is currently a member of the Federal Reserve Investment Advisory Committee on Financial Markets.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014 and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013. Four of the funds Mr. Rieder manages (Strategic Income Opportunities, Fixed Income Global Opportunities, Total Return, and Strategic Global Bond) have been awarded Gold Medals by Morningstar.

 

From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta.

 

Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program.

 

Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, New Jersey, and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation, and Trustee for the US Olympic Foundation. Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

Amer Bisat
Emerging Markets Portfolio Manager

   

Jacob Caplain
Vice President

  

Trevor Slaven
Trevor Slaven
Robert Wuertz
Director

  

Portfolio Manager

Literature

Literature