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Fixed Income
Trade this ETF now through your brokerage.
- NAV as of 08/Mar/2024GBP 9.55
52 WK: 8.99 - 9.55 - 1 Day NAV Change as of 08/Mar/20240.02(0.21%)
- Morningstar Rating
3 stars
GOLD
Investment Approach
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 globally at least 70% of its total assets in fixed income securities. These include bonds and money market instruments (i.e. debt securities with short term maturities).
The fixed income securities are denominated in various currencies and may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development).
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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 high yielding bonds. Companies who issue higher yield bonds typically have an increased risk of defaulting on repayments. In the event of default, the value of your investment may reduce. Economic conditions and interest rate levels may also impact significantly the values of high yield bonds. 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 circ*mstances 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
Chart
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- Growth of Hypothetical 10,000
- Historical NAVs
Distributions
Ex-Date | Total Distribution |
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Ex-Date | Total Distribution |
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For more information: +44 (0) 20 7743 3300 • www.blackrock.com • investor.services@blackrock.com
Returns
- Calendar Year
- Annualised
- Cumulative
- Discrete Annual
This chart shows the fund's performance as the percentage loss or gain per year over the last 5 years.
This chart shows the fund’s performance as the percentage loss or gain per year over the last 5 years against its benchmark. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.
During this period performance was achieved under circ*mstances that no longer apply
*On , the Fund changed its name and/or investment objective and policy..
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|---|---|---|---|---|
Total Return (%) | 5.8 | 5.1 | 0.4 | -6.7 | 6.4 |
Missing calendar year returns data
Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.
1y | 3y | 5y | 10y | Incept. | |
---|---|---|---|---|---|
Total Return (%) | 5.59 | -0.23 | 1.70 | - | 1.65 |
Missing average annual returns data
YTD | 1m | 3m | 6m | 1y | 3y | 5y | 10y | Incept. | |
---|---|---|---|---|---|---|---|---|---|
Total Return (%) | -0.32 | -0.53 | 2.52 | 4.24 | 5.59 | -0.70 | 8.81 | - | 9.34 |
Missing cumulative returns data
From 31-Dec-2018 To 31-Dec-2019 | From 31-Dec-2019 To 31-Dec-2020 | From 31-Dec-2020 To 31-Dec-2021 | From 31-Dec-2021 To 31-Dec-2022 | From 31-Dec-2022 To 31-Dec-2023 | |
---|---|---|---|---|---|
Total Return (%) as of 31/Dec/2023 | 5.77 | 5.08 | 0.43 | -6.67 | 6.38 |
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 GBP,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
Net Assets of Fundas of 08/Mar/2024USD 6,698,315,575
Share Class launch date19/Sept/2018
Fund Launch Date31/Jan/2007
Share Class CurrencyGBP
Fund Base CurrencyUSD
Asset ClassFixed Income
SFDR ClassificationOther
Initial Charge-
Ongoing Charges Figures0.56%
ISINLU1877503935
Annual Management Fee-
Performance Fee-
Minimum Initial InvestmentGBP 10,000,000.00
Minimum Subsequent InvestmentGBP 1,000.00
Use of IncomeDistributing
DomicileLuxembourg
Regulatory StructureUCITS
Management CompanyBlackRock (Luxembourg) S.A.
Morningstar CategoryGlobal Flexible Bond - GBP Hedged
Dealing SettlementTrade Date + 3 days
Dealing FrequencyDaily, forward pricing basis
Bloomberg TickerBGFI5GH
SEDOLBD0TGD2
Portfolio Characteristics
Number of Holdingsas of 29/Feb/20243425
12 Month Trailing Dividend Distribution Yieldas of 29/Feb/20243.56
Standard Deviation (3y)as of 29/Feb/20243.93%
Yield to Maturityas of 29/Feb/20246.13
Modified Durationas of 29/Feb/20244.46
Weighted Average YTMas of 29/Feb/20246.07%
Effective Durationas of 29/Feb/20243.65
Weighted Avg Maturityas of 29/Feb/20247.99
WAL to Worstas of 29/Feb/20247.99
ESG Integration
ESG Integration
ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision processwith the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.
The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, 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
1
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3
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7
Low RiskHigh Risk
Typically low rewards Typically high rewards
Ratings
Morningstar Rating
3 stars
Overall Morningstar Rating for BGF Fixed Income Global Opportunities Fund, Class I5 GBP Hedged, as of 29/Feb/2024 rated against 610 Global Flexible Bond - GBP Hedged Funds.
Morningstar Medalist Rating
Morningstar has awarded the Fund a Gold medal. (Effective 13/Feb/2024)
Holdings
- Top
as of 29/Feb/2024
Name | Weight (%) |
---|---|
UMBS 30YR TBA(REG A) | 10.00 |
UMBS 30YR TBA | 9.24 |
TREASURY NOTE 2.875 05/15/2032 | 3.05 |
TREASURY BOND 2.875 05/15/2052 | 2.97 |
FNMA 30YR UMBS SUPER | 1.32 |
Name | Weight (%) |
---|---|
SPAIN (KINGDOM OF) 2.55 10/31/2032 | 1.24 |
FNMA 30YR UMBS | 0.67 |
TREASURY NOTE 1.125 02/15/2031 | 0.56 |
TREASURY (CPI) NOTE 1.625 10/15/2027 | 0.50 |
INDIA (REPUBLIC OF) 7.37 10/23/2028 | 0.46 |
Holdings subject to change
Exposure Breakdowns
- Sector
- Geography
- Asset Class
- Maturity
- Currency
- Credit Quality
as of 29/Feb/2024
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¹Allocations are subject to change. Source: BlackRock
- Locations
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Allocations subject to change.
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Negative weightings may result from specific circ*mstances (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 | NAV | NAV Amount Change | NAV % Change | NAV As Of | 52wk High | 52wk Low | ISIN |
---|---|---|---|---|---|---|---|---|
Class I5 GBP Hedged | GBP | 9.55 | 0.02 | 0.21 | 08/Mar/2024 | 9.55 | 8.99 | LU1877503935 |
Class D4 Hedged | CAD | 9.58 | 0.03 | 0.31 | 08/Mar/2024 | 9.58 | 8.96 | LU1270847186 |
Class I2 Hedged | CHF | 11.24 | 0.03 | 0.27 | 08/Mar/2024 | 11.26 | 10.64 | LU1270847004 |
Class I3 Hedged | CAD | 9.33 | 0.02 | 0.21 | 08/Mar/2024 | 9.36 | 8.84 | LU1234671672 |
Class A3G | USD | 10.29 | 0.03 | 0.29 | 08/Mar/2024 | 10.34 | 9.77 | LU2621334601 |
Class D4 Hedged | EUR | 8.59 | 0.02 | 0.23 | 08/Mar/2024 | 8.59 | 8.07 | LU1340096590 |
Class A2 Hedged | SGD | 21.88 | 0.05 | 0.23 | 08/Mar/2024 | 21.88 | 20.59 | LU0278465488 |
Class I2 Hedged | JPY | 1,067.00 | 3.00 | 0.28 | 08/Mar/2024 | 1,073.00 | 1,018.00 | LU1005243172 |
Class D2 Hedged | EUR | 10.68 | 0.03 | 0.28 | 08/Mar/2024 | 10.68 | 10.03 | LU0278456651 |
Class A2 Hedged | EUR | 9.85 | 0.03 | 0.31 | 08/Mar/2024 | 9.85 | 9.27 | LU0278453476 |
Class A5 Hedged | EUR | 6.25 | 0.02 | 0.32 | 08/Mar/2024 | 6.25 | 5.92 | LU0280467159 |
Class I2 Hedged | EUR | 11.08 | 0.02 | 0.18 | 08/Mar/2024 | 11.08 | 10.40 | LU0368231436 |
Class D2 Hedged | PLN | 18.70 | 0.05 | 0.27 | 08/Mar/2024 | 18.70 | 17.30 | LU0827879684 |
Class I5 Hedged | JPY | 844.00 | 2.00 | 0.24 | 08/Mar/2024 | 870.00 | 812.00 | LU1791183194 |
Class D5 | USD | 10.51 | 0.03 | 0.29 | 08/Mar/2024 | 10.51 | 9.87 | LU0737136415 |
Class A5 Hedged | SGD | 13.92 | 0.04 | 0.29 | 08/Mar/2024 | 13.92 | 13.18 | LU0280468637 |
Class A2 Hedged | JPY | 997.00 | 2.00 | 0.20 | 08/Mar/2024 | 1,004.00 | 954.00 | LU1005243099 |
Class A2 Hedged | PLN | 17.66 | 0.05 | 0.28 | 08/Mar/2024 | 17.66 | 16.42 | LU0480534915 |
Class A5 | USD | 9.99 | 0.02 | 0.20 | 08/Mar/2024 | 9.99 | 9.40 | LU0280465617 |
Class D4 | EUR | 12.29 | -0.02 | -0.16 | 08/Mar/2024 | 12.44 | 11.78 | LU1085283973 |
Class A2 | USD | 15.69 | 0.04 | 0.26 | 08/Mar/2024 | 15.69 | 14.66 | LU0278466700 |
Class A8 Hedged | CNH | 88.11 | 0.22 | 0.25 | 08/Mar/2024 | 88.52 | 83.67 | LU1165523371 |
Class D2 | USD | 16.58 | 0.04 | 0.24 | 08/Mar/2024 | 16.58 | 15.47 | LU0278469043 |
Class I2 Hedged | AUD | 10.96 | 0.03 | 0.27 | 08/Mar/2024 | 10.96 | 10.27 | LU1786038098 |
Class D5 Hedged | EUR | 6.26 | 0.01 | 0.16 | 08/Mar/2024 | 6.26 | 5.93 | LU0827879841 |
Class S2 Hedged | EUR | 10.33 | 0.03 | 0.29 | 08/Mar/2024 | 10.33 | 9.70 | LU1992159654 |
Class A1 | EUR | 9.09 | -0.01 | -0.11 | 08/Mar/2024 | 9.22 | 8.59 | LU1005244220 |
Class D2 Hedged | SGD | 23.15 | 0.06 | 0.26 | 08/Mar/2024 | 23.15 | 21.75 | LU0827879767 |
Class S5 | USD | 10.06 | 0.02 | 0.20 | 08/Mar/2024 | 10.06 | 9.46 | LU1992159068 |
Class D2 Hedged | GBP | 11.97 | 0.03 | 0.25 | 08/Mar/2024 | 11.97 | 11.19 | LU0278463947 |
Class I2 | USD | 13.28 | 0.03 | 0.23 | 08/Mar/2024 | 13.28 | 12.37 | LU0986736956 |
Class A6 | USD | 11.22 | 0.02 | 0.18 | 08/Mar/2024 | 11.29 | 10.67 | LU1051767835 |
Class A3 | USD | 9.95 | 0.02 | 0.20 | 08/Mar/2024 | 9.97 | 9.40 | LU1003076939 |
Class A2 Hedged | GBP | 10.82 | 0.03 | 0.28 | 08/Mar/2024 | 10.82 | 10.13 | LU1181257202 |
Class A3 | EUR | 9.08 | -0.01 | -0.11 | 08/Mar/2024 | 9.21 | 8.59 | LU1005243339 |
Class D5 Hedged | CHF | 8.24 | 0.02 | 0.24 | 08/Mar/2024 | 8.35 | 7.87 | LU1681056062 |
Class I5 | JPY | 1,437.00 | -9.00 | -0.62 | 08/Mar/2024 | 1,461.00 | 1,227.00 | LU1926936912 |
Class I2 Hedged | GBP | 12.16 | 0.03 | 0.25 | 08/Mar/2024 | 12.16 | 11.36 | LU0999670564 |
Class A1 | USD | 9.96 | 0.03 | 0.30 | 08/Mar/2024 | 9.97 | 9.40 | LU1003076855 |
Class D4 Hedged | GBP | 4.53 | 0.01 | 0.22 | 08/Mar/2024 | 4.53 | 4.24 | LU1294567364 |
Class A2 | EUR | 14.32 | -0.01 | -0.07 | 08/Mar/2024 | 14.49 | 13.31 | LU1005243255 |
Class D2 | EUR | 15.13 | -0.02 | -0.13 | 08/Mar/2024 | 15.31 | 14.03 | LU1005243503 |
Class S2 Hedged | CHF | 9.98 | 0.02 | 0.20 | 08/Mar/2024 | 10.00 | 9.46 | LU1992159902 |
Class A4 Hedged | EUR | 8.58 | 0.03 | 0.35 | 08/Mar/2024 | 8.58 | 8.07 | LU0973708182 |
Class S4 Hedged | EUR | 9.25 | 0.02 | 0.22 | 08/Mar/2024 | 9.25 | 8.69 | LU1992161049 |
Class D2 Hedged | CHF | 10.47 | 0.03 | 0.29 | 08/Mar/2024 | 10.49 | 9.92 | LU0972027022 |
Class A10 | USD | 10.22 | 0.03 | 0.29 | 08/Mar/2024 | 10.35 | 10.00 | LU2708802827 |
Class A2 Hedged | CHF | 9.54 | 0.03 | 0.32 | 08/Mar/2024 | 9.57 | 9.06 | LU1121327164 |
Class S2 | USD | 11.32 | 0.03 | 0.27 | 08/Mar/2024 | 11.32 | 10.55 | LU1992160157 |
Class A6 Hedged | HKD | 82.59 | 0.21 | 0.25 | 08/Mar/2024 | 83.28 | 78.80 | LU1051769021 |
Class I5 | USD | 9.78 | 0.02 | 0.20 | 08/Mar/2024 | 9.78 | 9.19 | LU1083819141 |
Class A2 Hedged | SEK | 101.34 | 0.25 | 0.25 | 08/Mar/2024 | 101.34 | 95.52 | LU1121320748 |
Class I5 Hedged | EUR | 8.30 | 0.02 | 0.24 | 08/Mar/2024 | 8.30 | 7.85 | LU1129992308 |
Class A4 | USD | 9.93 | 0.03 | 0.30 | 08/Mar/2024 | 9.93 | 9.28 | LU1153584997 |
Class A8 Hedged | AUD | 8.46 | 0.02 | 0.24 | 08/Mar/2024 | 8.50 | 8.04 | LU1165522480 |
Portfolio Managers
Rick Rieder
Managing Director, CIO of Global Fixed Income
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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 responsible for roughly $2.4 trillion in assets. He 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 member of the Federal Reserve’s 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 nominated for Outstanding Portfolio Manager by Morningstar in 2021, 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.
Russell Brownback
Managing Director, Head of Global Macro Positioning for Fixed-Income
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Russell J Brownback, Managing Director, is Head of Global Macro Positioning for Fixed-Income and a member of the Fundamental Fixed-Income Executive Committee. Prior to joining BlackRock in 2009, Mr. Brownback was a Senior Partner with R3 Capital Partners. From 1992 to 2008, he was with Lehman Brothers, most recently as a Managing Director and proprietary trader/portfolio manager for the Global Principal Strategies team. Previously, he was the head of the firm's Corporate and Emerging Markets bond trading desks.
Mr. Brownback earned a BA degree in economics from Hobart College in 1987 and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University in 1992. He has been an adjunct professor for both graduate and undergraduate studies at Syracuse University's Whitman School of Business.
Aidan Doyle, CFA
Managing Director, Portfolio Manager
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Aidan Doyle, CFA, Managing Director, is a portfolio manager within the Global Bond Team. He is co-lead manager for the BGF World Bond Fund, the BGF Global Government Bond Fund, the BGF Fixed Income Global Opportunities Fund, BGF ESG Fixed Income Global Opportunities Fund, and the BGF US Dollar Bond Fund.
Mr. Doyle began his career at BlackRock in 2010 when he joined the Global Bond Team as a portfolio manager. He is responsible for developing macro directional and relative value investment strategies and managing the team's global aggregate and global government bond portfolios.
Mr. Doyle. has a MSc degree in Finance from the Imperial College London, with a focus on fixed income and derivatives. He earned a BA degree in Economics, with honors, from Trinity College Dublin, with a focus on financial economics.
Literature
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