Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: BGF Global Corporate Bond, iShares MSCI USA Small Cap, iShares S&P Small Cap 600 and SPDR Russell 2000 US Small Cap 

Morningstar Analysts 31 January, 2017 | 10:15AM
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New Ratings

BGF Global Corporate BondBronze

Carlos Lucar

Lead manager Owen Murfin has been at the helm of this fund since its inception in 2007. He is part of BlackRock’s nine-strong global bond team and serves as the lead on global credit strategies. Murfin and the team employ a disciplined relative value approach here aiming to outperform the Barclays Global Aggregate Corporate Index USD-hedged by at least 100 basis points (gross of fees) annualised over a market cycle. Although the objective is moderate in our view, it’s aligned to the approach--the manager aims to generate most of the outperformance from relative value calls on sector rotation, security selection and yield curve trades across global credit markets, while putting lower emphasis on directional strategies. In our view, the backing of BlackRock’s deep resources is an advantage here. Moreover, we believe Murfin’s relevant experience and long tenure at the firm further enhances his ability to exploit the depth of resources at BlackRock and underpin our conviction in the fund.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
BGF Global Corporate Bond D2 USD16.68 USD-0.22Rating
iShares MSCI USA Small Cap ETF USD Acc USD509.37 USD0.27Rating
iShares S&P SmallCap 600 ETF USD Dist91.55 USD0.12
Muzinich Global Tact Crdt HEUR Acc A116.32 EUR-0.16Rating
SPDR® Russell 2000 US Small Cap ETF63.54 USD-0.29

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