Fixed Income

BGF China Bond Fund

Overview

Important Information: 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.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
View full table
  From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of Dec 31, 2020

-1.47 17.24 -1.93 6.71 15.43
  1Y 3Y 5Y 10y Incept.
14.53 5.34 7.05 - 4.78
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
0.55 -0.59 2.80 14.53 16.87 40.61 - 44.87
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

Size of Fund (Millions) as of Mar 8, 2021 RMB 50,045.647
12m Trailing Yield as of Feb 28, 2021 3.68
Number of Holdings as of Feb 26, 2021 782
Base Currency China OffShore Renminbi
Fund Inception Date Nov 11, 2011
Share Class Inception Date Mar 20, 2013
Asset Class Fixed Income
Morningstar Category China Bond
Benchmark Index 1Y China Household Savings Deposits Rate Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 0.99%
ISIN LU0690034276
Bloomberg Ticker BGRBA3H
Annual Management Fee 0.75%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B763S96
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment HKD 5000
Minimum Subsequent Investment -
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Feb 26, 2021 4.74%
Modified Duration as of Feb 26, 2021 4.40 yrs
Effective Duration as of Feb 26, 2021 3.32 yrs
Weighted Avg Maturity as of Feb 26, 2021 4.36 yrs
3y Volatility - Benchmark as of Sep 30, 2019 3.18
3y Beta as of Feb 28, 2021 1.222
5y Volatility - Benchmark as of Sep 30, 2019 4.67
5y Beta as of Feb 28, 2021 1.028
WAL to Worst as of Feb 26, 2021 4.36 yrs

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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. For newly launched funds, sustainability characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

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 Feb 26, 2021 0.00%
MSCI - UN Global Compact Violators as of Feb 26, 2021 0.13%
MSCI - Nuclear Weapons as of Feb 26, 2021 0.00%
MSCI - Thermal Coal as of Feb 26, 2021 0.49%
MSCI - Civilian Firearms as of Feb 26, 2021 0.00%
MSCI - Oil Sands as of Feb 26, 2021 0.00%
MSCI - Tobacco as of Feb 26, 2021 0.00%

Business Involvement Coverage as of Feb 26, 2021 55.70%
Percentage of Fund not covered as of Feb 26, 2021 44.30%
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 0.90% and for Oil Sands 1.96%.

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 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 environmental, social and governance considerations across all steps of the investment process. In the initial idea generation and credit research process this includes an assessment of each company’s positive ESG attributes or material risks and the use of internal sovereign or corporate ESG due diligence templates alongside third-party ESG data. Positive ESG attributes and material ESG risks and their potential financial impact are highlighted in credit research reports and may influence investment decisions and security selection by portfolio managers. From a top-down perspective, the Fund manager also reviews ESG aggregate portfolio metrics through BlackRock’s Aladdin system. The Fund manager also considers environmental, social and governance criteria during portfolio monitoring and conducts regular portfolio risk reviews between the investment team and BlackRock’s Risk and Quantitative Analysis group. These reviews include the analysis and discussion of portfolio exposure to material ESG risks.

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for BGF China Bond Fund, Class A3, as of Jan 31, 2020 rated against 126 China Bond Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Feb 26, 2021
Name Weight (%)
CHINA NATIONAL PETROLEUM CORP MTN 2.99 03/23/2025 2.45
CHINA DEVELOPMENT BANK 3.48 01/08/2029 1.10
CHINA DEVELOPMENT BANK 3.65 05/21/2029 1.03
CHINA PETROLEUM & CHEMICAL CORP MTN 2.2 05/28/2023 0.94
TENCENT HOLDINGS LTD MTN RegS 3.975 04/11/2029 0.88
Name Weight (%)
SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 2.7 05/13/2030 0.85
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.02 10/22/2025 0.82
CHINA SOUTHERN POWER GRID CO LTD MTN 2.7 05/27/2025 0.59
OVERSEAS CHINESE TOWN (ASIA) HOLDI RegS 4.5 12/31/2049 0.58
COASTAL EMERALD LTD RegS 4.3 12/31/2049 0.56
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 26, 2021

% of Market Value

Type Fund
as of Feb 26, 2021

% of Market Value

Type Fund
as of Feb 26, 2021

% of Market Value

Type Fund
Allocations subject to change.
as of Feb 26, 2021

% of Market Value

Type Fund
as of Feb 26, 2021

% of Market Value

Type Fund
as of Feb 26, 2021

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
A3 HKD Monthly 87.52 -0.52 -0.59 89.82 74.25 - LU0690034276 - -
Class E8 Hedged EUR Monthly 9.90 -0.02 -0.20 10.07 9.90 - LU2252214130 - -
I3 USD Monthly 10.93 -0.07 -0.64 11.24 9.29 - LU1648248299 - -
D2 CNH Accumulating 104.99 -0.26 -0.25 106.07 92.91 - LU0827885731 - -
Class I6 CNH Monthly 103.87 -0.26 -0.25 105.73 97.23 - LU1940842344 - -
I2 EUR - 16.98 -0.06 -0.35 17.13 15.10 - LU2011139461 - -
A6 Hgd GBP Monthly 9.74 -0.03 -0.31 10.05 9.39 - LU2077746779 - -
A6 Hgd CAD Monthly 9.80 -0.02 -0.20 10.10 9.42 - LU2077746696 - -
A2 CHF Accumulating 14.95 -0.03 -0.20 15.01 12.71 - LU0969580058 - -
A6 Hgd NZD Monthly 9.79 -0.02 -0.20 10.09 9.39 - LU2077746340 - -
A6 Hgd EUR Monthly 9.44 -0.02 -0.21 9.81 9.17 - LU1847653224 - -
A2 Hgd USD Accumulating 10.63 -0.03 -0.28 10.76 9.64 - LU2070343392 - -
A6 Hgd USD Monthly 10.02 -0.03 -0.30 10.33 9.64 - LU1847653141 - -
A6 Hgd SGD Monthly 9.97 -0.03 -0.30 10.29 9.60 - LU1847653497 - -
A6 Hgd AUD Monthly 9.86 -0.03 -0.30 10.20 9.52 - LU1852331039 - -
Class E5 Hedged EUR Quarterly 9.90 -0.03 -0.30 10.14 9.35 - LU2038736463 - -
A3 CNH Monthly 73.70 -0.18 -0.24 74.75 68.07 - LU0679941160 - -
I2 CNH Accumulating 131.95 -0.32 -0.24 133.30 116.61 - LU1574463128 - -
A2 USD Accumulating 16.01 -0.10 -0.62 16.42 13.08 - LU0679941327 - -
I2 USD Accumulating 20.17 -0.13 -0.64 20.69 16.40 - LU1588882974 - -
E2 EUR Accumulating 16.68 -0.05 -0.30 16.83 14.96 - LU0764816798 - -
C2 USD Accumulating 14.27 -0.09 -0.63 14.65 11.79 - LU0683062482 - -
E5 EUR Quarterly 10.68 -0.04 -0.37 10.78 9.85 - LU2038736380 - -
A2 CNH Accumulating 104.72 -0.26 -0.25 105.81 92.99 - LU0679940949 - -
A3 USD Monthly 11.27 -0.07 -0.62 11.59 9.57 - LU0679941673 - -
D2 USD Accumulating 16.05 -0.10 -0.62 16.46 13.07 - LU0719319435 - -
D3 USD Monthly 11.32 -0.07 -0.61 11.64 9.62 - LU0683067952 - -
X2 USD - 12.65 -0.08 -0.63 12.97 10.24 - LU1733225855 - -
E2 Hgd EUR Accumulating 10.91 -0.02 -0.18 11.06 10.02 - LU0803752129 - -
A6 Hgd HKD Monthly 98.44 -0.25 -0.25 101.43 94.46 - LU1963769176 - -
A6 CNH Monthly 104.49 -0.17 -0.16 106.21 98.27 - LU1852330734 - -

Portfolio Managers

Portfolio Managers

Artur Piasecki
Artur Piasecki
Eric Liu
Eric Liu

Literature

Literature