February, 2021
FIGO generated a positive performance in February. Our exposure to parts of the credit market in the US and in Europe – both in investment grade
and high yield credit – contributed to the performance as credit spreads tightened on the back of positive data regarding future growth prospects. Similarly, our allocation to US equity via call options generated a positive return.
In addition, our allocation to securitised assets in US – particularly to Non-Agency and CLOs – added to the performance as economic fundamentals continue to show healthy signals along with supportive market technical factors. This was partially offset by our allocation to US treasuries which detracted from the performance as treasuries yields increased during the month. Moreover, government bonds in European and in emerging markets countries followed the US treasuries sell-off, impacting negatively the Fund performance.
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Literature -> Fund Update
fund_features:
BlackRock Fixed Income Global Opportunities Cl D is a flexible global multi-sector fixed income strategy that seeks to achieve a positive total return. While the Fund is not tied to a benchmark, the Fund is managed to a target return of 4-6% above the UBS Bank Bill Index, net of fees, over rolling 3-year periods. The Fund aims to achieve its objective by gaining exposure to an unconstrained, diversified portfolio of fixed income securities, denominated in various currencies, issued by governments, agencies and companies worldwide, it may also gain limited exposure to global equity markets & active currency positions.