BlackRock Fixed Income Global Opportunities A

  • 146.20p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 345.10p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 5.00% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.00%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.14%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 2.50%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 30 March 2020

Fund summary

Sector £ Strategic Bond
Structure UNIT TRUST
Launched January, 1991
Size £75m
Yield 2.50%
Charging basis Income
Dividends paid 15 May, 15 Nov

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 1.78%
Annual management charge 1.00%
Ongoing charges figure 1.14%

Allocation

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Investment process

This Fund invests in a portfolio of international bonds, to provide a combination of a good level of income and, where possible, capital growth.

Manager research

Average monthly relative returns

  • 15/16 -1.00%
  • 16/17 -0.37%
  • 17/18 0.58%
  • 18/19 -0.31%
  • 19/20 -0.63%

Bestinvest MRI

  • 3 years -0.12%
  • 5 years -0.35%
  • Career -0.21%
  • 3 years 43.30%
  • 5 years 21.80%
  • Career 18.70%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Andrew Gordon / Scott Thiel

Thiel, Managing Director and portfolio manager, is a member of the Fixed Income Portfolio Management Group. Mr. Thiel's primary responsibility is developing and implementing strategies in the non-dollar and emerging market sectors of the fixed income markets. Prior to joining BlackRock in 2002, Mr. Thiel was a Vice President at Goldman Sachs & Co. During his thirteen-year career with Goldman Sachs & Co. he was responsible for developing strategies in both US and international interest rate and derivative markets for institutional money managers. Mr. Thiel earned a BA degree in American history from Princeton University in 1987. Andrew Gordon, Managing Director and portfolio manager, is head of BlackRock's global bond team and a member of the Fixed Income Portfolio Management Group. His responsibilities include developing and implementing strategies in the non-dollar and emerging markets sectors of the fixed income market. Before joining BlackRock in 1996, Mr. Gordon, as principal, was responsible for developing strategies for a small relative value global fixed income hedge fund. Prior to that, Mr. Gordon had an eight-year affiliation with CS First Boston, where he pioneered the firm's international fixed income research effort. He began his career in 1981 with the Federal Reserve Bank of New York. During the three years he was with the Federal Reserve, he worked in the International Research and the Open Market Operations departments. Mr. Gordon earned a BA degree in economics and political science in 1981 and an MBA degree in finance in 1986, both from the University of Pennsylvania.

Track record

Andrew Gordon / Scott Thiel has 13.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.21%. During the worst period of relative performance (from January 2007 - August 2019) there was a decline of 35% relative to the index. The worst absolute loss has been 10%.

Periods of worst performance

Absolute -10.00% (December 2008 - June 2009)
Relative -35.00% (January 2007 - August 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 31 January 2020

5.5245% Fnma 30yr 2019 Production
5.2396% Treasury (Cpi) Note 0.5 04/15/2024
3.3734% Fhlmc 30yr Umbs Mirror
2.3432% Fhlmc 30yr Umbs Super
2.0747% Treasury Note 1.625 08/15/2029
1.8119% Treasury Note 1.75 11/15/2029
1.4876% Treasury Note 2.625 06/30/2023
1.1687% Treasury Note 2.375 05/15/2029
1.0811% Italy 1.75% 19-01.07.24 /Btp
.9335% Treasury Note 1.5 09/30/2024
Source: Trustnet

Sector breakdown

Government Bonds 36.00%
Asset/Mortgage-Backed Securities 20.00%
Money Market 14.00%
Government Agency Bonds 11.00%
Debt 8.00%
Investment Grade Bonds 7.00%
High Yield Bond 5.00%
Government Bonds 4.00%
Others 2.00%

Portfolio

Totally AA rated.

Key Investor Information - Income

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Key Investor Information - Accumulation

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