# BGF Global Government Bond Fund Class X2 Hedged NOK
## NOVEMBER 2022 FACTSHEET
Capital at risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

### Performance, Portfolio Breakdowns and Net Asset information as at: 30-Nov-2022. All other data as at: 09-Dec-2022.

#### Investors should read the Key Investor Information Document and Prospectus prior to investing.
| TOP HOLDINGS (%) |  |
| --- | --- |
| TREASURY NOTE 3 07/31/2024 | 3.97 |
| TREASURY NOTE 0.25 06/30/2025 | 3.59 |
| TREASURY NOTE 1.5 02/29/2024 | 3.10 |
| GERMANY (FEDERAL REPUBLIC OF) 1.3 10/ |  |
| 15/2027 | 3.05 |
| TREASURY NOTE 0.25 05/15/2024 | 2.61 |
| TREASURY NOTE 2.5 03/31/2027 | 2.32 |
| JAPAN (GOVERNMENT OF) 10YR #366 0.2 03/ |  |
| 20/2032 | 1.59 |
| UK CONV GILT 0.125 01/31/2023 | 1.45 |
| EUROPEAN INVESTMENT BANK MTN 4.5 10/ |  |
| 15/2025 | 1.45 |
| JAPAN (GOVERNMENT OF) 30YR #74 1 03/20/ |  |
| 2052 | 1.40 |
| Total of Portfolio24.53 Holdings subject to change |

Share Class and Benchmark performance displayed in NOK. Source: BlackRock. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested. Past performance is not a guide to future performance.
Key Risks: 
All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest.
(Continued on page 2)
Share Class performance is calculated on a Net Asset Value (NAV) basis, net of fees in the dealing currency specified and do not include sales charge or taxes. Returns assume reinvestment of any distributions. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product.
Key Risks Continued: 
The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets.

Translation (ENDE, 2022-11-30):
# BGF Global Government Bond Fund Class X2 Hedged NOK
## NOVEMBER 2022 FACTSHEET
Risiken im Zusammenhang mit Kapital. Alle Finanzanlagen bergen ein Risikoelement.
Daher werden der Wert Ihrer Anlage und die Erträge daraus Schwankungen unterliegen und Ihr ursprünglicher Anlagebetrag kann nicht garantiert werden.
Sofern nicht anders angegeben, sind die Informationen über die Wertentwicklung, Portfolioaufgliederung und das Nettovermögen vom: 
30.Nov 2022. 
Alle weiteren Daten per 
08.Dez 2022.
Diese Werbemitteilung stellt keine Anlageempfehlung oder sonstigen Rat dar und dient rein zu Informationszwecken für Anleger in Deutschland. Anleger sollten vor einer Anlage die Wesentlichen Anlegerinformationen und den Verkaufsprospekt lesen.
Die Wertentwicklung der Anteilsklasse und des Referenzindex werden in NOK angezeigt. Die Wertentwicklung wird auf der Grundlage eines Nettoinventarwerts (NAV) mit reinvestierten Bruttoausschüttungen angezeigt.
Der Fonds investiert einen erheblichen Vermögensanteil, der auf andere Währungen lautet.
| TOP-POSITIONEN (%) |  |
| --- | --- |
| TREASURY NOTE 3 07/31/2024 | 3,97 |
| TREASURY NOTE 0.25 06/30/2025 | 3,59 |
| TREASURY NOTE 1.5 02/29/2024 | 3,10 |
| GERMANY (FEDERAL REPUBLIC OF) 1.3 10/ |  |
| 15/2027 | 3,05 |
| TREASURY NOTE 0.25 05/15/2024 | 2,61 |
| TREASURY NOTE 2.5 03/31/2027 | 2,32 |
| JAPAN (GOVERNMENT OF) 10YR #366 0.2 03/ |  |
| 20/2032 | 1,59 |
| UK CONV GILT 0.125 01/31/2023 | 1,45 |
| EUROPEAN INVESTMENT BANK MTN 4.5 10/ |  |
| 15/2025 | 1,45 |
| JAPAN (GOVERNMENT OF) 30YR #74 1 03/20/ |  |
| 2052 | 1,40 |
| 24,53 Positionen unterliegen Änderungen. |

Die Wertentwicklung der Anteilsklasse wird auf der Grundlage des Nettoinventarwerts (NIW) zusammen mit dem reinvestierten Ertrag in NOK nach Gebühren errechnet. Die Wertentwicklung des Referenzindex wird in USD angezeigt.