Fixed Income

BGF Fixed Income Global Opportunities 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 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

Performance

Chart

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

Chart
Bar chart with 10 bars.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying Values. Range: -10 to 15.
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  2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Return (%) 10.4 5.7 -8.5 3.6 9.2 -3.3 8.1 -0.8 3.0 11.4

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
11.42 4.42 3.54 3.70 4.93
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
11.42 1.42 6.73 6.36 11.42 13.84 19.02 43.86 70.02
  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
From
31-Dec-2023
To
31-Dec-2024
Total Return (%)

as of 31/Dec/2024

-3.26 8.07 -0.80 2.99 11.42

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

Key Facts

Net Assets of Fund
as of 08/Jan/2025
USD 6,682,628,290
Fund Launch Date
31/Jan/2007
Fund Base Currency
USD
SFDR Classification
Other
Ongoing Charges Figures
1.22%
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

Portfolio Characteristics

Number of Holdings
as of 31/Dec/2024
3560
Yield to Maturity
as of 31/Dec/2024
5.73
Weighted Average YTM
as of 31/Dec/2024
5.64%
Weighted Avg Maturity
as of 31/Dec/2024
6.60
Standard Deviation (3y)
as of 31/Dec/2024
6.26%
Modified Duration
as of 31/Dec/2024
3.86
Effective Duration
as of 31/Dec/2024
3.42
WAL to Worst
as of 31/Dec/2024
6.60

ESG Integration

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

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Fixed Income Global Opportunities Fund, Class A2, as of 31/Dec/2024 rated against 754 Global Flexible Bond - USD Hedged Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - Silver
Morningstar has awarded the Fund a Silver medal. (Effective 12/Mar/2019)
Analyst-Driven % as of -
-
Data Coverage % as of -
-

Holdings

Holdings

as of 31/Dec/2024
Name Weight (%)
UMBS 30YR TBA(REG A) 12.27
FNMA 30YR UMBS 2.09
GNMA2 30YR TBA(REG C) 0.98
SPAIN (KINGDOM OF) 2.7 01/31/2030 0.81
SPAIN (KINGDOM OF) 3.45 10/31/2034 0.56
Name Weight (%)
IRELAND (GOVERNMENT) 2.6 10/18/2034 0.54
INDIA (REPUBLIC OF) 7.37 10/23/2028 0.44
TREASURY NOTE 5 09/30/2025 0.42
TREASURY NOTE 4.5 11/15/2025 0.42
TREASURY NOTE 3.25 06/30/2029 0.40
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Dec/2024

% of Market Value

¹Allocations are subject to change. Source: BlackRock
as of 31/Dec/2024

% of Market Value

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as of 31/Dec/2024

% of Market Value

Allocations subject to change.
as of 31/Dec/2024

% of Market Value

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as of 31/Dec/2024

% of Market Value

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as of 31/Dec/2024

% of Market Value

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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

Pricing & Exchange

Portfolio Managers

Portfolio Managers

Rick Rieder
Managing Director, CIO of Global Fixed Income

  

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

  

Aidan Doyle, CFA
Managing Director, Portfolio Manager