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

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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 (%) -4.51 8.53 4.03 38.39 -23.11 25.71 7.80 1.17 -23.10 10.77
Constraint Benchmark 1 (%) 0.51 13.02 6.91 30.09 -15.93 17.94 5.28 -2.49 -12.91 14.17

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

  1Y 3Y 5Y 10y Incept.
16.82 -4.34 3.13 3.54 6.47
Constraint Benchmark 1 (%) 10.38 -1.66 3.24 4.90 -
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
3.30 0.27 -0.61 8.94 16.82 -12.46 16.67 41.63 402.90
Constraint Benchmark 1 (%) -0.06 0.36 -0.95 5.06 10.38 -4.88 17.26 61.32 -
  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

-7.51 41.39 -14.31 -11.54 17.51
Constraint Benchmark 1 (%)

as of Mar 31, 2024

-11.28 36.95 -13.48 -1.99 14.80
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 USD, 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 Jun 14, 2024
JPY 31,223,780,864
Fund Inception Date
May 13, 1987
Base Currency
JPY
Constraint Benchmark 1
S&P Japan MidSmallCap Index - in USD
Initial Charge
3.00%
ISIN
LU0090841692
Performance Fee
0.00%
Minimum Subsequent Investment
-
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
MIGSJOE
Share Class Inception Date
Sep 1, 1998
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Article 8
Ongoing Charge
2.30%
Annual Management Fee
2.00%
Minimum Initial Investment
USD 5000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Japan Small/Mid-Cap Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
5548840

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of May 31, 2024
91
P/E Ratio
as of May 31, 2024
14.89
Standard Deviation (3y)
as of May 31, 2024
14.15%
P/B Ratio
as of May 31, 2024
1.20

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

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Japan Small & MidCap Opportunities Fund, Class E2, as of Mar 31, 2012 rated against 138 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 May 31, 2024
Name Weight (%)
FUKUOKA FINANCIAL GROUP INC 2.15
HOKUHOKU FINANCIAL GROUP INC 1.93
77 BANK LTD/THE 1.92
DAI-DAN CO LTD 1.74
DKS CO LTD 1.65
Name Weight (%)
JAPAN METROPOLITAN FUND INVESTMENT CORP 1.61
KINDEN CORPORATION 1.60
RYOHIN KEIKAKU CO LTD 1.59
KAJIMA CORPORATION 1.57
DAIWA SECURITIES GROUP INC 1.55
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 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
E2 USD 62.25 0.78 1.27 Jun 14, 2024 65.51 52.74 LU0090841692
A2 JPY 11,113.00 145.00 1.32 Jun 14, 2024 11,245.00 8,791.00 LU0249411835
A2 EUR 66.22 1.53 2.37 Jun 14, 2024 69.00 55.85 LU0171289068
D2 JPY 12,581.00 164.00 1.32 Jun 14, 2024 12,722.00 9,881.00 LU0496417709
D2 USD 80.00 1.00 1.27 Jun 14, 2024 83.95 67.20 LU0827883108
E2 EUR 58.33 1.35 2.37 Jun 14, 2024 60.83 49.43 LU0171289225
D2 EUR 74.97 1.74 2.38 Jun 14, 2024 78.01 62.77 LU0252965594
Class A10 Hedged USD 11.15 0.15 1.36 Jun 14, 2024 11.36 9.99 LU2728923348
I2 Hgd EUR 13.97 0.18 1.31 Jun 14, 2024 14.07 10.57 LU1822774102
I2 EUR 15.19 0.36 2.43 Jun 14, 2024 15.80 12.68 LU1822774011
I2 JPY 2,549.00 34.00 1.35 Jun 14, 2024 2,576.00 1,996.00 LU0992622497
Class A10 Hedged HKD 111.04 1.45 1.32 Jun 14, 2024 113.31 99.80 LU2728923264
A2 USD 70.66 0.88 1.26 Jun 14, 2024 74.28 59.67 LU0006061252
C2 USD 51.43 0.64 1.26 Jun 14, 2024 54.23 43.81 LU0147408305
A2 Hgd EUR 71.36 0.94 1.33 Jun 14, 2024 71.91 54.55 LU0255399742
E2 JPY 9,789.00 127.00 1.31 Jun 14, 2024 9,910.00 7,782.00 LU0249422956
A4 GBP 55.57 1.18 2.17 Jun 14, 2024 58.72 47.94 LU0204063480
C2 JPY 8,089.00 105.00 1.32 Jun 14, 2024 8,199.00 6,477.00 LU0249422360
A2 Hgd USD 23.96 0.31 1.31 Jun 14, 2024 24.12 18.02 LU0931342652
D2 Hgd EUR 77.89 1.02 1.33 Jun 14, 2024 78.44 59.12 LU0827883280
X2 JPY 13,897.00 181.00 1.32 Jun 14, 2024 14,040.00 10,810.00 LU0249423681
D4 GBP 57.56 1.22 2.17 Jun 14, 2024 60.75 49.63 LU0827883017

Portfolio Managers

Portfolio Managers

Hiroki Takayama
Hiroki Takayama

Literature

Literature