BGF Fixed Income Global Opportunities Fund

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NAV as of 18/Nov/2024 EUR 15.35
52 WK: 13.74 - 15.39
1 Day NAV Change as of 18/Nov/2024 -0.04 (-0.26%)
Morningstar Rating

3 stars
Silver

Overview

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 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

Chart

Performance chart data not available for display.

Growth of Hypothetical 10,000
Historical NAVs

BGF Fixed Income Global Opportunities Fund (EUR)

Historical NAVs

Returns

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Total Return (%)	17.5	10.4	5.7	-8.5	3.6	9.2	-3.3	8.1	-0.8	3.0

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 (%)	7.12	3.34	2.53	3.53	4.50

Missing average annual returns data

	YTD	1m	3m	6m	1y	3y	5y	10y	Incept.
Total Return (%)	5.67	1.22	0.81	3.11	7.12	10.37	13.31	41.50	61.26

Missing cumulative returns data

	From 30-Sept-2019 To 30-Sept-2020	From 30-Sept-2020 To 30-Sept-2021	From 30-Sept-2021 To 30-Sept-2022	From 30-Sept-2022 To 30-Sept-2023	From 30-Sept-2023 To 30-Sept-2024
Total Return (%) as of 30/Sept/2024	-3.06	4.46	8.54	-4.95	5.07

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 EUR, 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 Fund

as of 18/Nov/2024

USD 6,752,109,549

Fund Launch Date

31/Jan/2007

Fund Base Currency

USD

SFDR Classification

Other

Ongoing Charges Figures

1.20%

ISIN

LU1005243255

Use of Income

Accumulating

Regulatory Structure

UCITS

Morningstar Category

Global Flexible Bond - USD Hedged

Dealing Frequency

Daily, forward pricing basis

SEDOL

BH89CT0

Share Class launch date

18/Dec/2013

Share Class Currency

EUR

Asset Class

Fixed Income

Initial Charge

5.00%

Management Fee

1.00%

Performance Fee

0.00%

Domicile

Luxembourg

Management Company

BlackRock (Luxembourg) S.A.

Dealing Settlement

Trade Date + 3 days

Bloomberg Ticker

B3FD GR

Portfolio Characteristics

Number of Holdings

as of 31/Oct/2024

3513

Yield to Maturity

as of 31/Oct/2024

5.52

Weighted Average YTM

as of 31/Oct/2024

5.38%

Weighted Avg Maturity

as of 31/Oct/2024

6.36

Standard Deviation (3y)

as of 31/Oct/2024

5.90%

Modified Duration

as of 31/Oct/2024

4.44

Effective Duration

as of 31/Oct/2024

3.79

WAL to Worst

as of 31/Oct/2024

6.36

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

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Low Risk High Risk

Typically low rewards Typically high rewards

Ratings

Morningstar Rating

Overall

3 stars

Overall Morningstar Rating for BGF Fixed Income Global Opportunities Fund, Class A2, as of 31/Oct/2024 rated against 742 Global Flexible Bond - USD Hedged Funds.

Morningstar Medalist Rating

Morningstar has awarded the Fund a Silver medal. (Effective 12/Mar/2019)

Analyst-Driven % as of -

-

Data Coverage % as of -

-

Holdings

Top

as of 31/Oct/2024

Name	Weight (%)
UMBS 30YR TBA(REG A)	19.10
FNMA 30YR UMBS	1.08
SPAIN (KINGDOM OF) 3.5 05/31/2029	0.68
IRELAND (GOVERNMENT) 2.6 10/18/2034	0.56
INDIA (REPUBLIC OF) 7.37 10/23/2028	0.44

Name	Weight (%)
TREASURY NOTE 4.5 11/15/2025	0.42
TREASURY NOTE 5 09/30/2025	0.42
TREASURY NOTE 3.25 06/30/2029	0.40
INDIA (REPUBLIC OF) 7.18 08/14/2033	0.37
FNMA_24-38A FE	0.34

Holdings subject to change

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type	Fund

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¹Allocations are subject to change. Source: BlackRock

as of 31/Oct/2024

% of Market Value

Type	Fund

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as of 31/Oct/2024

% of Market Value

Type	Fund

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Allocations subject to change.

as of 31/Oct/2024

% of Market Value

Type	Fund

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as of 31/Oct/2024

% of Market Value

Type	Fund

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as of 31/Oct/2024

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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	NAV	NAV Amount Change	NAV % Change	NAV As Of	52wk High	52wk Low	ISIN
Class A2	EUR	15.35	-0.04	-0.26	18/Nov/2024	15.39	13.74	LU1005243255
Class I3 Hedged	CAD	9.38	0.02	0.21	18/Nov/2024	9.58	9.04	LU1234671672
Class D2 Hedged	EUR	10.95	0.01	0.09	18/Nov/2024	11.13	10.27	LU0278456651
Class D4	EUR	12.79	-0.03	-0.23	18/Nov/2024	12.82	11.78	LU1085283973
Class I2 Hedged	CHF	11.33	0.01	0.09	18/Nov/2024	11.55	10.87	LU1270847004
Class A5 Hedged	SGD	13.87	0.02	0.14	18/Nov/2024	14.20	13.49	LU0280468637
Class I5 Hedged	JPY	820.00	1.00	0.12	18/Nov/2024	851.00	819.00	LU1791183194
Class A2 Hedged	PLN	18.30	0.02	0.11	18/Nov/2024	18.55	16.91	LU0480534915
Class D4 Hedged	EUR	8.52	0.02	0.24	18/Nov/2024	8.86	8.26	LU1340096590
Class A2 Hedged	JPY	992.00	1.00	0.10	18/Nov/2024	1,013.00	972.00	LU1005243099
Class I2 Hedged	EUR	11.38	0.01	0.09	18/Nov/2024	11.56	10.65	LU0368231436
Class A5 Hedged	EUR	6.23	0.00	0.00	18/Nov/2024	6.38	6.06	LU0280467159
Class D4 Hedged	CAD	9.55	0.01	0.10	18/Nov/2024	9.92	9.18	LU1270847186
Class D2 Hedged	PLN	19.45	0.03	0.15	18/Nov/2024	19.70	17.88	LU0827879684
Class A5	USD	10.09	0.01	0.10	18/Nov/2024	10.30	9.64	LU0280465617
Class A2	USD	16.23	0.02	0.12	18/Nov/2024	16.46	15.03	LU0278466700
Class A3G	USD	10.32	0.01	0.10	18/Nov/2024	10.54	9.98	LU2621334601
Class D5	USD	10.61	0.01	0.09	18/Nov/2024	10.84	10.13	LU0737136415
Class I2 Hedged	JPY	1,066.00	1.00	0.09	18/Nov/2024	1,089.00	1,038.00	LU1005243172
Class A2 Hedged	EUR	10.06	0.01	0.10	18/Nov/2024	10.23	9.48	LU0278453476
Class A2 Hedged	SGD	22.34	0.03	0.13	18/Nov/2024	22.72	21.08	LU0278465488
Class D2	USD	17.21	0.02	0.12	18/Nov/2024	17.45	15.87	LU0278469043
Class I2 Hedged	AUD	11.30	0.01	0.09	18/Nov/2024	11.47	10.53	LU1786038098
Class A8 Hedged	CNH	88.36	0.08	0.09	18/Nov/2024	90.25	85.53	LU1165523371
Class D5 Hedged	CHF	8.08	0.01	0.12	18/Nov/2024	8.31	8.01	LU1681056062
Class A2 Hedged	GBP	11.16	0.01	0.09	18/Nov/2024	11.33	10.39	LU1181257202
Class I2	USD	13.80	0.01	0.07	18/Nov/2024	13.99	12.70	LU0986736956
Class A1	EUR	9.51	-0.03	-0.31	18/Nov/2024	9.54	8.79	LU1005244220
Class A6	USD	11.30	0.02	0.18	18/Nov/2024	11.53	10.91	LU1051767835
Class I5	JPY	1,530.00	-5.00	-0.33	18/Nov/2024	1,573.00	1,370.00	LU1926936912
Class D2 Hedged	SGD	23.71	0.03	0.13	18/Nov/2024	24.10	22.27	LU0827879767
Class S5	USD	10.16	0.01	0.10	18/Nov/2024	10.38	9.70	LU1992159068
Class D5 Hedged	EUR	6.25	0.01	0.16	18/Nov/2024	6.40	6.07	LU0827879841
Class A3	EUR	9.52	-0.02	-0.21	18/Nov/2024	9.54	8.79	LU1005243339
Class S2 Hedged	EUR	10.60	0.01	0.09	18/Nov/2024	10.77	9.93	LU1992159654
Class I2 Hedged	GBP	12.60	0.02	0.16	18/Nov/2024	12.77	11.65	LU0999670564
Class D2 Hedged	GBP	12.39	0.01	0.08	18/Nov/2024	12.57	11.47	LU0278463947
Class A3	USD	10.06	0.01	0.10	18/Nov/2024	10.26	9.62	LU1003076939
Class D2	EUR	16.29	-0.04	-0.24	18/Nov/2024	16.33	14.51	LU1005243503
Class D4 Hedged	GBP	4.54	0.01	0.22	18/Nov/2024	4.70	4.34	LU1294567364
Class A1	USD	10.05	0.00	0.00	18/Nov/2024	10.25	9.61	LU1003076855
Class I5 GBP Hedged	GBP	9.62	0.01	0.10	18/Nov/2024	9.83	9.22	LU1877503935
Class D2 Hedged	CHF	10.54	0.01	0.09	18/Nov/2024	10.75	10.14	LU0972027022
Class S4 Hedged	EUR	9.17	0.01	0.11	18/Nov/2024	9.54	8.90	LU1992161049
Class A2 Hedged	CHF	9.57	0.01	0.10	18/Nov/2024	9.77	9.25	LU1121327164
Class S2	USD	11.76	0.02	0.17	18/Nov/2024	11.92	10.82	LU1992160157
Class A4 Hedged	EUR	8.51	0.01	0.12	18/Nov/2024	8.82	8.26	LU0973708182
Class I5	USD	9.88	0.01	0.10	18/Nov/2024	10.09	9.43	LU1083819141
Class A10	USD	10.12	0.01	0.10	18/Nov/2024	10.36	9.97	LU2708802827
Class A6 Hedged	HKD	82.34	0.09	0.11	18/Nov/2024	84.15	80.42	LU1051769021
Class S2 Hedged	CHF	10.06	0.01	0.10	18/Nov/2024	10.26	9.66	LU1992159902
Class I5 Hedged	EUR	8.28	0.01	0.12	18/Nov/2024	8.48	8.04	LU1129992308
Class A8 Hedged	AUD	8.53	0.01	0.12	18/Nov/2024	8.69	8.22	LU1165522480
Class A4	USD	9.98	0.02	0.20	18/Nov/2024	10.29	9.51	LU1153584997
Class A2 Hedged	SEK	103.44	0.12	0.12	18/Nov/2024	105.24	97.76	LU1121320748

Portfolio Managers

Managing Director, CIO of Global Fixed Income

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.

Managing Director, Head of Global Macro Positioning for Fixed-Income

Managing Director, Portfolio Manager

Literature

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Performance

Performance

Chart

Returns

Key Facts

Key Facts

Portfolio Characteristics

Portfolio Characteristics

ESG Integration

ESG Integration

Risk Indicator

Risk Indicator

Ratings

Ratings

Morningstar Rating

Morningstar Medalist Rating

Holdings

Holdings

Exposure Breakdowns

Exposure Breakdowns

Pricing & Exchange

Pricing & Exchange

Portfolio Managers

Portfolio Managers

Literature

Literature