Fact sheet: BlackRock GF US Govt Mortg

Fund information
Fund name
BlackRock GF US Government Mortgage D2 USD
Fund manager company
BlackRock (Luxembourg) S.A.
Fund type
Offshore Fund
Fund managers
  • Matthew Kraegersince 01/11/2009
  • Bob Millersince 14/11/2012
  • Akiva Dicksteinsince 01/11/2009
Fund objective
The Fund seeks a high level of income. The Fund invests at least 80% of its total assets in fixed income securities which are denominated in US dollars. The fixed income securities will be issued or guaranteed by the United States Government, its agencies or United States government sponsored enterprises, including Government National Mortgage Association, mortgage-backed certificates and other United States Government securities representing ownership interests in mortgage pools, such as mortgage-backed securities (MBS) issued by Fannie Mae and Freddie Mac. MBS are financial securities which are backed cash flows from underlying assets such as commercial and residential mortgages. The Fund can use derivatives as part of its investment strategy. This can increase the overall risk profile of the Fund.
Benchmark
  • Citigroup Mortgage
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
1.4%
1 Year rank in sector
3/7
Sector
FO Fixed Int - USD Government
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.65%
Fund size
£205m (£173m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
76
Top in this sector
Fund name1 Year
JI Emerging Markets Bonds CL9.2%
JI Emerging Market Bonds EUR CL6.8%
BlackRock GF US Govt Mortg1.4%
JI Dollar Bonds CL1.1%
Franklin US Gover0.5%
...more in FO Fixed Int - USD Government

Performance snapshot

Holdings snapshot

  • USA88.4%
    Money Market11.6%
  • Asset/Mortgage-Backed Securities86.5%
    Money Market11.6%
    Government Bonds0.9%
    Mortgage & Secured Bonds0.9%
  • US Fixed Interest87.5%
    Money Market11.6%
    US Government Fixed Interest0.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.6%-1.9%-0.7%1.4%8.9%11.2%
Sector-2.3%-3%-1.1%2.3%4.5%4.4%
Rank within sector3 / 73 / 75 / 73 / 73 / 73 / 7
Quartile2nd2nd3rd2nd2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund1.9%0.8%6%-1.7%3.8%
Sector2.8%-1%2.9%-2.2%1.7%
Rank within sector3 / 71 / 73 / 72 / 74 / 7
Quartile2nd1st2nd2nd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
1.75
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.7
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-0
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
2.13
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.44
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.94
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.66
Price movement
52 week high19.53
52 week low18.79
Current bid price-
Current offer price-
Current mid price19.15
Region
1USA88.4%
2Money Market11.6%
Industry sector
1Asset/Mortgage-Backed Securities86.54%
2Money Market11.6%
3Government Bonds0.94%
4Mortgage & Secured Bonds0.92%
Asset type
1US Fixed Interest87.46%
2Money Market11.6%
3US Government Fixed Interest0.94%
Individual holdings
1GNMA2 30YR 2015 PRODUCTION13.09%
2FNMA 30YR 2015 PRODUCTION6.05%
3 FNMA 30YR 2011 PRODUCTION 4.2%
4FNMA 30YR 2003 PRODUCTION3.88%
5FNMA 15YR TBA(REG B) 2.5 10/18/20162.88%
6FNMA 30YR TBA(REG A) 3.5 11/14/20162.88%
7FNMA 15YR TBA(REG B) 2.5 09/19/20162.56%
8FGOLD 30YR TBA(REG A) 4 11/14/20162.38%
9FNMA 30YR 3.5% MLB 110K 20152.18%
Management
Fund manager group
BlackRock
Fund manager company
BlackRock (Luxembourg) S.A.
Fund type
Offshore Fund
Fund objective
The Fund seeks a high level of income. The Fund invests at least 80% of its total assets in fixed income securities which are denominated in US dollars. The fixed income securities will be issued or guaranteed by the United States Government, its agencies or United States government sponsored enterprises, including Government National Mortgage Association, mortgage-backed certificates and other United States Government securities representing ownership interests in mortgage pools, such as mortgage-backed securities (MBS) issued by Fannie Mae and Freddie Mac. MBS are financial securities which are backed cash flows from underlying assets such as commercial and residential mortgages. The Fund can use derivatives as part of its investment strategy. This can increase the overall risk profile of the Fund.
Benchmark
  • Citigroup Mortgage
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Matthew Kraeger01/11/2009Matthew Kraeger, Director, is a member of the Multi-Sector & Mortgages Group within BlackRock Fundamental Fixed Income. He is a portfolio manager on the Mortgage Portfolio Team.Mr. Kraeger moved into his current role in the Portfolio Management Group in 2004. He is a senior portfolio manager for the BlackRock GNMA Fund, which ranked first in the Lipper Fund Awards GNMA category for both the 2008 and 2009 3-year periods. Mr. Kraeger began his investment career as an analyst in BlackRock's Operations department in 2000 and joined the Portfolio Analytics Group in 2002.Mr. Kraeger earned a BS degree in finance from Syracuse University in 2000.
Bob Miller14/11/2012Bob Miller, Managing Director, is a member of the Multi-Sector Mutual Fund team within BlackRock Fundamental Fixed Income Portfolio Management Group. He is a portfolio manager of BlackRock's Core Bond, Total Return, and Strategic Income Opportunities Funds. Prior to joining BlackRock in 2011, Mr. Miller was a Co-Founder and Partner at the Round Table Investment Management Company, a multi-strategy, research-based investment company, where he managed a global macro strategy. Previously, Mr. Miller spent 20 years at Bank of America, where he served in a variety of roles, most recently as senior portfolio manager for the bank's proprietary multi-asset class investment portfolio. Mr. Miller managed global equity and credit, global interest rate derivative, and sovereign debt portfolios during his tenure at Bank of America. Mr. Miller is a Trustee of Davidson College, a member of the Executive Committee and Chairman of the Investment Committee. He is also actively involved with the Davidson July Experience program. Mr. Miller is a Trustee and past Chairman of the Board at Trinity Episcopal School in Charlotte, N.C. He earned a BA degree in economics from Davidson College in 1984.
Akiva Dickstein01/11/2009Akiva Dickstein, Managing Director, is a portfolio manager in the Multi-Sector & Mortgages Group within BlackRock Fundamental Fixed Income. He is head of Mortgage Portfolios. Prior to joining BlackRock in 2009, Mr. Dickstein spent eight years at Merrill Lynch, where he served as Managing Director and head of the U.S. Rates & Structured Credit Research Group. He was responsible for the team that produced MBS, ABS, CMBS, Treasuries, swaps, and interest rate derivatives research. Mr. Dickstein's publications on MBS strategy included the weekly Mortgage Investor as well as numerous lengthier articles on topics such as optimal loan modifications, the valuation of credit-sensitive MBS and ABS, and the pricing of mortgage derivatives, options, and pass-throughs. In addition, he developed Merrill's prepayment models for fixed rate and hybrid MBS. From 1993 to 2001, Mr. Dickstein was with Lehman Brothers, most recently as a Senior Vice President in Mortgage Derivatives Trading. In this role, he traded mortgage derivatives and developed Lehman's credit default model. He joined Lehman as a mortgage and asset-backed securities analyst and was named to Institutional Investor's All American Fixed Income Research Team in pass-throughs, non-agency mortgages, and asset-backed securities. Mr. Dickstein earned a BA degree in economics, summa cum laude, from Yale University in 1990, and an MA degree in physics from Princeton University in 1993.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Bahrain, Brunei Darussalam, Switzerland, Chile, Germany, Denmark, Spain, Finland, France, United Kingdom, Gulf Cooperation Council, Gibraltar, Greece, Hong Kong, Hungary, Ireland, Iceland, Italy, Japan, Jersey, Republic Of Korea, Luxembourg, Macau, Malta, Mauritius, Netherlands, Norway, Offshore, Poland, Portugal, Singapore, Sweden, Taiwan - Province Of China
BlackRock GF US Government Mortgage A1 USD
Initial charge5%
Annual charge0.75%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)0.96%
Bid price-
Offer price-
Mid price9.57
CurrencyUSD
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeML77
BlackRock GF US Government Mortgage A2 USD
Initial charge5%
Annual charge0.75%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.01%
Total expense ratio (TER)0.96%
Bid price-
Offer price-
Mid price18.66
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeML79
BlackRock GF US Government Mortgage A3 USD
Initial charge5%
Annual charge0.75%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)0.96%
Bid price-
Offer price-
Mid price9.57
CurrencyUSD
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeYG58
BlackRock GF US Government Mortgage C1 USD
Initial charge-
Annual charge2%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.25%
Total expense ratio (TER)2.21%
Bid price-
Offer price-
Mid price10.1
CurrencyUSD
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeXM98
BlackRock GF US Government Mortgage C2 USD
Initial charge-
Annual charge2%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.25%
Total expense ratio (TER)2.21%
Bid price-
Offer price-
Mid price15.86
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeXM97
BlackRock GF US Government Mortgage D2 USD
Initial charge5%
Annual charge0.4%
Min single investment£100,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.65%
Total expense ratio (TER)0.61%
Bid price-
Offer price-
Mid price19.15
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF7I2
BlackRock GF US Government Mortgage D3 USD
Initial charge5%
Annual charge0.4%
Min single investment£100,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.65%
Total expense ratio (TER)0.62%
Bid price-
Offer price-
Mid price9.59
CurrencyUSD
Price updated08/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNJM4
BlackRock GF US Government Mortgage E2 EUR
Initial charge3%
Annual charge1.25%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.5%
Total expense ratio (TER)1.46%
Bid price-
Offer price-
Mid price16.26
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBMU5
BlackRock GF US Government Mortgage E2 USD
Initial charge3%
Annual charge1.25%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.5%
Total expense ratio (TER)1.46%
Bid price-
Offer price-
Mid price17.28
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeYG59
BlackRock GF US Government Mortgage I3 USD
Initial charge-
Annual charge0.4%
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.48%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.78
CurrencyUSD
Price updated08/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNCIC
BlackRock GF US Government Mortgage X2 USD
Initial charge-
Annual charge-
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.25
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFWMB
BlackRock GF US Government Mortgage X3 USD
Initial charge-
Annual charge-
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.06%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.77
CurrencyUSD
Price updated08/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFV4X
Data provided by

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