Equity

BGF Japan Small & MidCap Opportunities 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. Shares in smaller companies typically trade in less volume and experience greater price variations than larger companies. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. The value of equities and equity-related securities can be affected by daily stock market movements, political factors, economic news, company earnings and significant corporate events. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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.

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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

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

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 9.71 8.77 0.20 33.14 -25.06 24.15 1.32 11.43 -11.46 21.28
Constraint Benchmark 1 (%) 14.66 13.40 3.65 25.65 -18.12 16.83 0.02 8.76 -0.21 21.99

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

  1Y 3Y 5Y 10y Incept.
38.81 7.88 10.18 8.35 2.42
Constraint Benchmark 1 (%) 30.55 10.06 10.09 9.76 -
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
16.21 4.62 16.21 20.61 38.81 25.56 62.41 122.89 53.09
Constraint Benchmark 1 (%) 12.37 4.89 12.37 13.63 30.55 33.33 61.74 153.73 -
  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of Mar 31, 2024

-10.41 44.37 -7.12 -2.60 38.81
Constraint Benchmark 1 (%)

as of Mar 31, 2024

-13.47 40.18 -4.97 7.47 30.55
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 JPY.

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 Apr 17, 2024 JPY 28,642,342,415
Share Class Inception Date May 29, 2006
Fund Inception Date May 13, 1987
Share Class Currency EUR
Base Currency JPY
Asset Class Equity
Constraint Benchmark 1 S&P Japan Mid Small Cap Index (JPY)
SFDR Classification Article 8
Initial Charge 5.00%
Ongoing Charge 1.82%
ISIN LU0255399742
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MLJOAEH
SEDOL B43CN89

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Mar 28, 2024 91
Standard Deviation (3y) as of Mar 31, 2024 11.65%
P/E Ratio as of Mar 28, 2024 18.66
P/B Ratio as of Mar 28, 2024 1.39

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 Mar 28, 2024
Name Weight (%)
DAI-DAN CO LTD 2.30
KINDEN CORPORATION 2.01
KAJIMA CORPORATION 1.76
FUKUOKA FINANCIAL GROUP INC 1.71
CHUGOKU MARINE PAINTS LTD 1.66
Name Weight (%)
VALQUA LTD 1.65
KYUDENKO CORP 1.65
JAPAN METROPOLITAN FUND INVESTMENT CORP 1.64
SINKO INDUSTRIES LTD 1.63
TOHO GAS CO LTD 1.63
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Mar 28, 2024

% of Market Value

Type Fund
as of Mar 28, 2024

% of Market Value

Type Fund
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
A2 Hgd EUR 69.15 -0.76 -1.09 Apr 17, 2024 71.66 50.74 LU0255399742
X2 JPY 13,513.00 -151.00 -1.11 Apr 17, 2024 14,002.00 10,079.00 LU0249423681
A4 GBP 55.98 -0.70 -1.24 Apr 17, 2024 58.72 47.94 LU0204063480
E2 EUR 58.02 -0.77 -1.31 Apr 17, 2024 60.83 49.35 LU0171289225
A2 EUR 65.82 -0.86 -1.29 Apr 17, 2024 69.00 55.71 LU0171289068
D2 USD 79.21 -0.94 -1.17 Apr 17, 2024 83.95 67.20 LU0827883108
D2 Hgd EUR 75.39 -0.82 -1.08 Apr 17, 2024 78.11 54.90 LU0827883280
A2 JPY 10,836.00 -121.00 -1.10 Apr 17, 2024 11,232.00 8,223.00 LU0249411835
C2 USD 51.09 -0.61 -1.18 Apr 17, 2024 54.23 43.81 LU0147408305
A2 Hgd USD 23.18 -0.25 -1.07 Apr 17, 2024 24.00 16.70 LU0931342652
D2 EUR 74.42 -0.98 -1.30 Apr 17, 2024 78.01 62.53 LU0252965594
I2 Hgd EUR 13.52 -0.14 -1.02 Apr 17, 2024 14.00 9.81 LU1822774102
Class A10 Hedged USD 10.94 -0.12 -1.08 Apr 17, 2024 11.36 9.99 LU2728923348
I2 EUR 15.07 -0.20 -1.31 Apr 17, 2024 15.80 12.63 LU1822774011
E2 USD 61.76 -0.73 -1.17 Apr 17, 2024 65.51 52.74 LU0090841692
C2 JPY 7,903.00 -89.00 -1.11 Apr 17, 2024 8,199.00 6,071.00 LU0249422360
A2 USD 70.05 -0.83 -1.17 Apr 17, 2024 74.28 59.67 LU0006061252
E2 JPY 9,553.00 -107.00 -1.11 Apr 17, 2024 9,906.00 7,285.00 LU0249422956
I2 JPY 2,481.00 -28.00 -1.12 Apr 17, 2024 2,571.00 1,864.00 LU0992622497
D4 GBP 57.92 -0.73 -1.24 Apr 17, 2024 60.75 49.63 LU0827883017
D2 JPY 12,252.00 -137.00 -1.11 Apr 17, 2024 12,698.00 9,230.00 LU0496417709
Class A10 Hedged HKD 109.16 -1.17 -1.06 Apr 17, 2024 113.31 99.80 LU2728923264

Portfolio Managers

Portfolio Managers

Hiroki Takayama
Hiroki Takayama

Literature

Literature