Fixed Income

BGF US Dollar Bond Fund

  • NAV as of 21/Nov/2024 SGD 10.54
    52 WK: 10.09 - 10.95
  • 1 Day NAV Change as of 21/Nov/2024 0.02 (0.19%)

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 at least 80% 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 may be issued by: the United States (US) government and its agencies, non-US governments and government agencies and companies and supranationals (e.g. the International Bank for Reconstruction and Development) domiciled inside or outside of the US.

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

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.

Show Less
Loading

Performance

Performance

Chart

View full chart
Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

This chart shows the fund's performance as the percentage loss or gain per year over the last 0 years.

  2019 2020 2021 2022 2023
Total Return (%)
Constraint Benchmark 1 (%)

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 (%) - - - - -
Constraint Benchmark 1 (%) - - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 0.00 -3.12 -0.47 3.53 - - - - 5.50
Constraint Benchmark 1 (%) 1.86 -2.48 0.25 5.31 - - - - 7.66
  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

- - - - -
Constraint Benchmark 1 (%)

as of 30/Sept/2024

- - - - -

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 SGD, 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 21/Nov/2024
USD 517,246,672
Fund Launch Date
07/Apr/1989
Fund Base Currency
USD
Constraint Benchmark 1
Bloomberg US Aggregate Bond Index
Initial Charge
5.00%
Management Fee
0.85%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGUBASH
Share Class launch date
08/Nov/2023
Share Class Currency
SGD
Asset Class
Fixed Income
SFDR Classification
Other
Ongoing Charges Figures
1.09%
ISIN
LU2699150137
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BR3SZM6

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Oct/2024
1463
3y Beta
as of -
-
Modified Duration
as of 31/Oct/2024
6.68
Effective Duration
as of 31/Oct/2024
6.43
WAL to Worst
as of 31/Oct/2024
9.65
Standard Deviation (3y)
as of -
-
Yield to Maturity
as of 31/Oct/2024
5.50
Weighted Average YTM
as of 31/Oct/2024
5.48%
Weighted Avg Maturity
as of 31/Oct/2024
9.65

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

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
UNITED STATES TREASURY 24.82
UNIFORM MBS 13.29
FEDERAL NATIONAL MORTGAGE ASSOCIATION 10.83
FEDERAL HOME LOAN MORTGAGE CORPORATION 7.10
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 5.76
Name Weight (%)
GOLDMAN SACHS GROUP INC/THE 1.63
JPMORGAN CHASE & CO 1.55
MORGAN STANLEY 1.39
DIAMONDBACK ENERGY INC 1.29
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 1.10
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
¹Allocations are subject to change. Source: BlackRock
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A2 Hedged SGD 10.54 0.02 0.19 21/Nov/2024 10.95 10.09 LU2699150137
Class A1 USD 14.89 0.02 0.13 21/Nov/2024 15.52 14.49 LU0028835386
Class D3 USD 14.93 0.03 0.20 21/Nov/2024 15.56 14.54 LU0592701923
Class A2 USD 33.08 0.06 0.18 21/Nov/2024 34.25 31.08 LU0096258362
Class D2 USD 35.06 0.06 0.17 21/Nov/2024 36.28 32.81 LU0548367084
Class A3 USD 14.93 0.02 0.13 21/Nov/2024 15.56 14.54 LU0172417379
Class A2 CZK 795.22 1.18 0.15 21/Nov/2024 795.22 691.49 LU1791174102
Class D2 Hedged GBP 10.34 0.01 0.10 21/Nov/2024 10.71 9.73 LU1294567448
Class I5 USD 8.90 0.02 0.23 21/Nov/2024 9.31 8.63 LU1718847640

Portfolio Managers

Portfolio Managers

Aidan Doyle, CFA
Aidan Doyle, CFA
Managing Director, Portfolio Manager

  

Read More

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.

Chi Chen
Chi Chen
Director, Portfolio Manager

  

Read More

Chi Chen, Director, is a Portfolio Manager in BlackRock's Global Fixed Income Investment Group, focusing on US multi-sector fixed income mandates and global government bond mandates. She is co-manager of BlackRock's Total Return Fund, Core Bond Fund, US Dollar Bond Fund, and Global Government Bond Fund.

 

Ms. Chen focuses on macro investment strategies and specializes in interest rates investment. She leads research efforts for US rates in the Global Fixed Income platform. In addition, she is actively involved in the platform's top-down process including regime identification, asset allocation, macro positioning, and portfolio construction. Previously, she was a macro researcher on the Economics team at BlackRock.

 

Ms. Chen joined BlackRock as an analyst in the Global Fixed Income Investment Group. She earned a BA degree, magna cum laude, in Economics and Statistics from Mount Holyoke College.

David Rogal
David Rogal
Managing Director, Portfolio Manager

  

Read More

David Rogal, Managing Director, is a member of the Multi-Sector Mutual Fund team within BlackRock's Global Fixed Income Group. He is a portfolio manager of BlackRock's Core Bond, Inflation Protected, Total Return, and Strategic Income Opportunities Funds. Mr. Rogal focuses on broad macro positioning, with specialties in interest rates, inflation, and volatility trading.

 

Mr. Rogal joined Fixed Income in 2009. Previously, he was a member of BlackRock's Multi Asset Strategies group, where he developed quantitative models and advised insurance companies, pension funds, and banks on asset-allocation and asset-liability management. Mr. Rogal began his career at BlackRock in 2006 as an analyst in the Financial Institutions Group.

 

Mr. Rogal earned a BA degree in economics and biology from Cornell University in 2006, with concentrations in statistics and genetics. He is a member of the Phi Beta Kappa society, for which he currently serves on the alumni board of directors.

Sam Summers
Sam Summers
Director, Portfolio Manager

   

Read More

Sam Summers, Director, is a portfolio manager on the Multi-Sector Mutual Funds team within the Global Fixed Income group at Blackrock. Mr. Summers focuses on macro directional and relative value investment strategies in FX and global interest rates as well as managing the multi-sector mutual funds and global government bond portfolios.


Mr. Summers joined Blackrock as an analyst after graduating from the University of Pennsylvania with a BA degree in economics.

Literature

Literature