Equity

BGF Asian Dragon Fund

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

Loading

Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart

Reinvestments

This fund does not have any distributions data as of now.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 5.43 19.46 5.27 11.11 20.65 -13.80 22.42 9.87 2.76 -13.87
Constraint Benchmark 1 (%) -1.38 19.35 1.18 8.60 24.48 -10.05 20.34 14.70 2.52 -14.41

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1Y 3Y 5Y 10y Incept.
-5.91 -3.57 2.15 5.15 5.82
Constraint Benchmark 1 (%) -3.57 -2.83 3.17 5.70 7.13
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-3.45 1.63 -3.84 -4.40 -5.91 -10.34 11.21 65.27 236.08
Constraint Benchmark 1 (%) 0.14 3.61 -0.47 -0.26 -3.57 -8.25 16.88 74.04 337.29
  From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
From
30-Sep-2022
To
30-Sep-2023
Total Return (%)

as of Sep 30, 2023

7.00 2.29 19.04 -16.06 1.68
Constraint Benchmark 1 (%)

as of Sep 30, 2023

2.88 9.55 15.77 -15.71 2.60
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in EUR hedged Share Class Benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund as of Dec 8, 2023 USD 717,253,145
Share Class Inception Date Jul 1, 2002
Fund Inception Date Jan 2, 1997
Share Class Currency EUR
Base Currency USD
Asset Class Equity
Constraint Benchmark 1 MSCI AC Asia ex Japan (Net) in EUR Performance Index
SFDR Classification Other
Initial Charge 3.00%
Ongoing Charge 2.35%
ISIN LU0171270985
Annual Management Fee 2.00%
Performance Fee 0.00%
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment -
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Asia ex Japan Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MERDREE
SEDOL B41FDQ8

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Nov 30, 2023 55
Standard Deviation (3y) as of Nov 30, 2023 14.54%
3y Beta as of Nov 30, 2023 0.934
P/E Ratio as of Nov 30, 2023 14.11
P/B Ratio as of Nov 30, 2023 1.83

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Oct 25, 2023 A
MSCI ESG % Coverage as of Oct 25, 2023 99.75
MSCI ESG Quality Score (0-10) as of Oct 25, 2023 6.52
MSCI ESG Quality Score - Peer Percentile as of Oct 25, 2023 53.95
Fund Lipper Global Classification as of Oct 25, 2023 Equity Asia Pacific ex Japan
Funds in Peer Group as of Oct 25, 2023 697
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Oct 25, 2023 93.19
MSCI Weighted Average Carbon Intensity % Coverage as of Oct 25, 2023 98.03
All data is from MSCI ESG Fund Ratings as of Oct 25, 2023, based on holdings as of Jun 30, 2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Nov 30, 2023 0.00%
MSCI - UN Global Compact Violators as of Nov 30, 2023 1.24%
MSCI - Nuclear Weapons as of Nov 30, 2023 0.00%
MSCI - Thermal Coal as of Nov 30, 2023 1.53%
MSCI - Civilian Firearms as of Nov 30, 2023 0.00%
MSCI - Oil Sands as of Nov 30, 2023 0.00%
MSCI - Tobacco as of Nov 30, 2023 0.00%

Business Involvement Coverage as of Nov 30, 2023 98.60%
Percentage of Fund not covered as of Nov 30, 2023 1.19%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 1.53% and for Oil Sands 1.35%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Ratings

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Nov 30, 2023
Name Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 9.36
SAMSUNG ELECTRONICS CO LTD 8.52
TENCENT HOLDINGS LTD 5.07
ALIBABA GROUP HOLDING LTD 5.02
AIA GROUP LTD 3.26
Name Weight (%)
RELIANCE INDUSTRIES LTD 2.90
OVERSEA-CHINESE BANKING CORPORATION LTD 2.45
NETEASE INC 2.30
INFOSYS LTD 2.24
AXIS BANK LTD 2.24
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Nov 30, 2023

% of Market Value

Type Fund Benchmark Net
as of Nov 30, 2023

% of Market Value

Type Fund Benchmark Net
as of Nov 30, 2023

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
E2 EUR 34.88 0.24 0.69 Dec 8, 2023 40.13 34.46 LU0171270985
I2 Hgd AUD 9.63 0.05 0.52 Dec 8, 2023 11.26 9.34 LU1664188957
X4 GBP 30.63 0.22 0.72 Dec 8, 2023 36.72 30.20 LU0462858753
A2 Hgd PLN 114.44 0.60 0.53 Dec 8, 2023 131.54 111.36 LU1499592209
D2 Hgd CHF 11.87 0.06 0.51 Dec 8, 2023 14.16 11.56 LU1279613282
D4 GBP 32.20 0.23 0.72 Dec 8, 2023 38.56 31.75 LU0827875260
D2 EUR 43.75 0.30 0.69 Dec 8, 2023 49.79 43.17 LU0329592298
A2 Hgd CHF 11.17 0.06 0.54 Dec 8, 2023 13.40 10.88 LU1279613100
A2 USD 41.78 0.22 0.53 Dec 8, 2023 48.35 40.52 LU0072462343
D2 GBP 37.56 0.27 0.72 Dec 8, 2023 44.40 37.04 LU0827875187
C2 USD 30.06 0.16 0.54 Dec 8, 2023 35.16 29.19 LU0147401474
C2 EUR 27.95 0.19 0.68 Dec 8, 2023 32.36 27.61 LU0331282235
D2 USD 47.06 0.25 0.53 Dec 8, 2023 54.10 45.60 LU0411709560
A4 GBP 31.85 0.23 0.73 Dec 8, 2023 38.09 31.41 LU0204061278
A2 Hgd EUR 11.48 0.06 0.53 Dec 8, 2023 13.56 11.15 LU1279613365
Class I4 GBP 9.30 0.07 0.76 Dec 8, 2023 11.14 9.17 LU1260044513
X2 USD 53.49 0.29 0.55 Dec 8, 2023 60.95 51.76 LU0462857276
A2 GBP 33.36 0.24 0.72 Dec 8, 2023 39.67 32.90 LU0171270639
A2 EUR 38.85 0.27 0.70 Dec 8, 2023 44.50 38.36 LU0171269466
D2 Hgd EUR 12.22 0.07 0.58 Dec 8, 2023 14.34 11.87 LU1279613522
A2 Hgd AUD 12.79 0.06 0.47 Dec 8, 2023 15.09 12.42 LU1023056804
I2 USD 12.75 0.07 0.55 Dec 8, 2023 14.63 12.35 LU1214678440
I2 EUR 11.86 0.09 0.76 Dec 8, 2023 13.46 11.70 LU1250987382
Class I4 USD 11.65 0.06 0.52 Dec 8, 2023 13.57 11.28 LU1250982748
D2 Hgd AUD 19.62 0.10 0.51 Dec 8, 2023 23.00 19.04 LU1697774625
E2 USD 37.52 0.20 0.54 Dec 8, 2023 43.60 36.41 LU0147401631
A2 Hgd SGD 12.37 0.06 0.49 Dec 8, 2023 14.56 12.03 LU1048588211
Class I4 EUR 10.84 0.07 0.65 Dec 8, 2023 12.51 10.70 LU1330249480

Portfolio Managers

Portfolio Managers

Stephen Andrews
Stephen Andrews
Lucy Liu
Director, is a research analyst within the Asian Equities team

Lucy Liu

Literature

Literature