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.

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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  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 57.79 9.79 8.22 0.91 33.81 -24.59 24.31 2.01 12.14 -10.85
Constraint Benchmark 1 (%) 54.11 14.66 13.40 3.65 25.65 -18.12 16.83 0.02 8.76 -0.21
  1Y 3Y 5Y 10y Incept.
-10.85 0.66 -0.90 9.24 4.56
Constraint Benchmark 1 (%)

as of Dec 31, 2022

-0.21 2.77 0.75 10.48 -
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-10.85 -4.85 0.44 2.27 -10.85 1.98 -4.40 142.01 389.08
Constraint Benchmark 1 (%)

as of Dec 31, 2022

-0.21 -3.35 2.06 3.49 -0.21 8.55 3.83 170.96 -
  From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
Total Return (%)

as of Dec 31, 2022

-24.59 24.31 2.01 12.14 -10.85
Constraint Benchmark 1 (%)

as of Dec 31, 2022

-18.12 16.83 0.02 8.76 -0.21
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.

Key Facts

Key Facts

Net Assets of Fund as of Feb 2, 2023 JPY 18,168,277,100
Share Class Inception Date May 29, 2006
Fund Inception Date May 13, 1987
Share Class Currency JPY
Base Currency JPY
Asset Class Equity
Constraint Benchmark 1 S&P Japan Mid Small Cap Index
SFDR Classification Other
Initial Charge 3.00%
Ongoing Charge 2.35%
Annual Management Fee 2.00%
Performance Fee 0.00%
Minimum Initial Investment JPY 5000
Minimum Subsequent Investment JPY 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Japan Small/Mid-Cap Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MLJOPEY
ISIN LU0249422956
SEDOL B43CN67

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 30, 2022 78
Standard Deviation (3y) as of Dec 31, 2022 16.90%
P/E Ratio as of Dec 30, 2022 13.45
P/B Ratio as of Dec 30, 2022 1.17

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in combination with other information in the research and decision phases 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’s ongoing monitoring of the portfolio involves regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion 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

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Japan Small & MidCap Opportunities Fund, Class E2, as of Jan 31, 2023 rated against 177 Japan Small/Mid-Cap Equity Funds.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Dec 30, 2022
Name Weight (%)
FUKUOKA FINANCIAL GROUP INC 4.16
77 BANK LTD/THE 3.47
KYUDENKO CORP 2.22
DAITO TRUST CONSTRUCTION CO LTD 2.11
RYOHIN KEIKAKU CO LTD 2.09
Name Weight (%)
NIPPON SODA CO LTD 2.02
ZENKOKU HOSHO CO LTD 1.93
MITSUBISHI HC CAPITAL INC 1.93
HIKARI TSUSHIN INC. 1.89
KOBAYASHI PHARMACEUTICAL CO LTD 1.84
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
E2 JPY Accumulating 7,277.00 -22.00 -0.30 Feb 2, 2023 7,755.00 6,808.00 LU0249422956 -
A2 JPY Accumulating 8,205.00 -24.00 -0.29 Feb 2, 2023 8,736.00 7,642.00 LU0249411835 -
I2 JPY Accumulating 1,856.00 -5.00 -0.27 Feb 2, 2023 1,972.00 1,713.00 LU0992622497 -
X2 JPY Accumulating 10,018.00 -30.00 -0.30 Feb 2, 2023 10,632.00 9,183.00 LU0249423681 -
C2 JPY Accumulating 6,075.00 -18.00 -0.30 Feb 2, 2023 6,483.00 5,722.00 LU0249422360 -
C2 USD Accumulating 47.20 0.14 0.30 Feb 2, 2023 55.20 40.65 LU0147408305 -
D2 Hgd EUR Accumulating 54.49 -0.15 -0.27 Feb 2, 2023 57.83 50.64 LU0827883280 -
E2 EUR Accumulating 51.84 0.14 0.27 Feb 2, 2023 58.05 48.08 LU0171289225 -
E2 USD Accumulating 56.54 0.17 0.30 Feb 2, 2023 65.63 48.58 LU0090841692 -
D4 GBP Annual 53.55 0.41 0.77 Feb 2, 2023 55.96 48.03 LU0827883017 -
D2 USD Accumulating 71.44 0.22 0.31 Feb 2, 2023 81.89 61.17 LU0827883108 -
I2 Hgd EUR - 9.74 -0.02 -0.20 Feb 2, 2023 10.33 9.02 LU1822774102 -
A2 Hgd EUR Accumulating 50.43 -0.14 -0.28 Feb 2, 2023 53.60 47.19 LU0255399742 -
D2 EUR Accumulating 65.50 0.18 0.28 Feb 2, 2023 72.46 60.28 LU0252965594 -
I2 EUR - 13.22 0.03 0.23 Feb 2, 2023 14.59 12.15 LU1822774011 -
A2 USD Accumulating 63.76 0.20 0.31 Feb 2, 2023 73.63 54.70 LU0006061252 -
A2 Hgd USD Accumulating 16.54 -0.04 -0.24 Feb 2, 2023 17.47 15.05 LU0931342652 -
D2 JPY Accumulating 9,194.00 -28.00 -0.30 Feb 2, 2023 9,775.00 8,505.00 LU0496417709 -
A2 EUR Accumulating 58.45 0.15 0.26 Feb 2, 2023 65.13 54.05 LU0171289068 -
A4 GBP Annual 51.88 0.40 0.78 Feb 2, 2023 54.24 46.43 LU0204063480 -

Portfolio Managers

Portfolio Managers

Hiroki Takayama
Hiroki Takayama
Keitaro Kanai
Keitaro Kanai

Literature

Literature