Fixed Income

BGF China Bond 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.

Please note the Fund-specific risks under the relevant section in Disclaimer.

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

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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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This chart shows the fund's performance as the percentage loss or gain per year over the last 3 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2017 2018 2019 2020 2021
Total Return (%) 7.4 5.9 -4.7
  1y 3y 5y 10y Incept.
-7.26 0.14 - - 1.89
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-3.04 0.24 -0.66 -3.45 -7.26 0.41 - - 7.51
  From
31.Mar.2017
To
31.Mar.2018
From
31.Mar.2018
To
31.Mar.2019
From
31.Mar.2019
To
31.Mar.2020
From
31.Mar.2020
To
31.Mar.2021
From
31.Mar.2021
To
31.Mar.2022
Total Return (%)

as of 31-Mar-2022

- - 3.09 5.70 -7.46

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in SGD, hedged Share Class Benchmark performance is displayed in CNH.

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 24-Jun-2022 RMB 41,977,531,377.56
Share Class launch date 18-Jul-2018
Fund Launch Date 11-Nov-2011
Share Class Currency SGD
Base Currency CNH
Asset Class Fixed Income
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.00%
Annual Management Fee 0.75%
Performance Fee -
Minimum Initial Investment SGD 5,000.00
Minimum Subsequent Investment SGD 1,000.00
Distribution Frequency Monthly
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGFA6SH
ISIN LU1847653497
SEDOL BDD1B85

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-May-2022 608
12m Trailing Yield as of 31-May-2022 5.63
Standard Deviation (3y) as of 31-May-2022 3.22%
Yield to Maturity as of 31-May-2022 5.98%
Modified Duration as of 31-May-2022 2.69
Weighted Avg YTM as of 31-May-2022 6.39%
Effective Duration as of 31-May-2022 2.41 yrs
Weighted Avg Maturity as of 31-May-2022 3.82 yrs
WAL to Worst as of 31-May-2022 3.82 yrs

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% 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. 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 31-May-2022 0.00%
MSCI - UN Global Compact Violators as of 31-May-2022 0.00%
MSCI - Nuclear Weapons as of 31-May-2022 0.00%
MSCI - Thermal Coal as of 31-May-2022 0.37%
MSCI - Civilian Firearms as of 31-May-2022 0.00%
MSCI - Oil Sands as of 31-May-2022 0.00%
MSCI - Tobacco as of 31-May-2022 0.00%

Business Involvement Coverage as of 31-May-2022 53.04%
Percentage of Fund not covered as of 31-May-2022 46.83%
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 0.79% and for Oil Sands 0.00%.

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.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

 

Ratings

Portfolio Managers

Portfolio Managers

Eric Liu
Eric Liu
Suanjin Tan
Suanjin Tan
Yii Hui Wong
Yii Hui Wong

Holdings

Holdings

as of 31-May-2022
Name Weight (%)
CHINA DEVELOPMENT BANK 3.65 05/21/2029 2.04
CHINA CONSTRUCTION BANK CORP RegS 3.45 08/10/2031 1.91
CHINA DEVELOPMENT BANK 3.48 01/08/2029 1.86
BANK OF CHINA LTD RegS 4.2 09/21/2030 1.58
CHINA NATIONAL PETROLEUM CORP MTN 2.99 03/23/2025 1.41
Name Weight (%)
BANK OF COMMUNICATIONS CO LTD RegS 3.65 09/27/2031 1.32
AGRICULTURAL DEVELOPMENT BANK OF C 3.74 07/12/2029 1.25
ALIBABA GROUP HOLDING LTD 3.6 11/28/2024 1.15
CHINA DEVELOPMENT BANK 3.45 09/20/2029 1.00
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.02 10/22/2025 0.96
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-May-2022

% of Market Value

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 31-May-2022

% of Market Value

Type Fund
as of 31-May-2022

% of Market Value

Type Fund
as of 31-May-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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class A6 Hedged SGD Monthly 8.62 -0.03 -0.35 24-Jun-2022 9.88 8.62 LU1847653497 -
Class A2 Hedged USD None 9.82 -0.03 -0.30 24-Jun-2022 10.73 9.71 LU2070343392 -
Class A2 CHF None 14.32 -0.08 -0.56 24-Jun-2022 15.31 14.32 LU0969580058 -
Class D2 CNH None 100.95 -0.28 -0.28 24-Jun-2022 107.47 99.02 LU0827885731 -
Class D6 Hedged SGD Monthly 8.80 -0.02 -0.23 24-Jun-2022 10.02 8.80 LU2325727282 -
Class A6 Hedged EUR Monthly 8.05 -0.02 -0.25 24-Jun-2022 9.32 8.05 LU1847653224 -
Class D2 Hedged EUR None 9.43 -0.03 -0.32 24-Jun-2022 10.36 9.35 LU2112292417 -
Class A6 Hedged AUD Monthly 8.49 -0.02 -0.24 24-Jun-2022 9.76 8.49 LU1852331039 -
Class D2 EUR None 14.32 0.03 0.21 24-Jun-2022 14.70 13.70 LU2290526164 -
Class I5 Hedged EUR Quarterly 8.64 -0.03 -0.35 24-Jun-2022 9.91 8.64 LU2298320776 -
Class E5 Hedged EUR Quarterly 8.56 -0.03 -0.35 24-Jun-2022 9.79 8.56 LU2038736463 -
Class I2 Hedged USD - 9.71 -0.03 -0.31 24-Jun-2022 10.56 9.59 LU2112291955 -
Class E5 EUR Quarterly 10.68 0.02 0.19 24-Jun-2022 11.16 10.53 LU2038736380 -
Class I4 Hedged GBP Annual 9.00 -0.03 -0.33 24-Jun-2022 10.20 8.89 LU2112291872 -
Class D4 Hedged GBP Annual 8.99 -0.03 -0.33 24-Jun-2022 10.18 8.88 LU2112292177 -
Class I3 USD Monthly 9.79 0.01 0.10 24-Jun-2022 11.17 9.66 LU1648248299 -
Class A3 HKD Monthly 79.18 0.11 0.14 24-Jun-2022 89.51 78.16 LU0690034276 -
Class A2 CNH None 100.23 -0.28 -0.28 24-Jun-2022 107.01 98.41 LU0679940949 -
Class A2 USD None 15.00 0.02 0.13 24-Jun-2022 16.64 14.76 LU0679941327 -
Class E2 EUR None 17.48 0.04 0.23 24-Jun-2022 17.97 16.81 LU0764816798 -
Class A3 USD Monthly 10.09 0.02 0.20 24-Jun-2022 11.51 9.96 LU0679941673 -
Class D3 USD Monthly 10.13 0.01 0.10 24-Jun-2022 11.56 10.00 LU0683067952 -
Class AI2 EUR - 11.35 0.03 0.27 24-Jun-2022 11.65 10.88 LU2131808516 -
Class D2 USD None 15.11 0.02 0.13 24-Jun-2022 16.72 14.86 LU0719319435 -
Class D2 Hedged USD None 9.67 -0.03 -0.31 24-Jun-2022 10.54 9.56 LU2112292250 -
Class I6 USD Hedged USD Monthly 9.04 -0.02 -0.22 24-Jun-2022 10.31 9.04 LU2134542930 -
Class I2 Hedged EUR - 9.45 -0.03 -0.32 24-Jun-2022 10.38 9.37 LU2112292094 -
Class A3 CNH Monthly 67.39 -0.19 -0.28 24-Jun-2022 74.19 66.81 LU0679941160 -
Class AI2 Hedged EUR - 9.71 -0.03 -0.31 24-Jun-2022 10.70 9.64 LU2131808789 -
Class I2 EUR - 18.03 0.04 0.22 24-Jun-2022 18.50 17.24 LU2011139461 -
Class A6 Hedged GBP Monthly 8.40 -0.03 -0.36 24-Jun-2022 9.64 8.40 LU2077746779 -
Class E8 Hedged EUR Monthly 8.81 -0.03 -0.34 24-Jun-2022 9.87 8.80 LU2252214130 -
Class A6 Hedged USD Monthly 8.66 -0.02 -0.23 24-Jun-2022 9.93 8.66 LU1847653141 -
Class A6 Hedged NZD Monthly 8.48 -0.02 -0.24 24-Jun-2022 9.69 8.48 LU2077746340 -
Class A2 EUR None 14.22 0.03 0.21 24-Jun-2022 14.60 13.63 LU2267099674 -
Class A6 Hedged CAD Monthly 8.46 -0.02 -0.24 24-Jun-2022 9.70 8.46 LU2077746696 -
Class D6 Hedged USD Monthly 8.56 -0.02 -0.23 24-Jun-2022 9.78 8.56 LU2243824054 -
Class I6 CNH Monthly 93.69 -0.26 -0.28 24-Jun-2022 104.08 93.14 LU1940842344 -
Class I6 Hedged SGD Monthly 8.82 -0.02 -0.23 24-Jun-2022 10.02 8.82 LU2325727365 -
Class A3 SGD Monthly 13.99 0.01 0.07 24-Jun-2022 15.63 13.86 LU2298379152 -
Class I2 USD None 19.03 0.03 0.16 24-Jun-2022 21.02 18.71 LU1588882974 -
Class D6 CNH Monthly 90.00 -0.25 -0.28 24-Jun-2022 99.79 89.42 LU2243823916 -
Class A6 Hedged HKD Monthly 84.77 -0.25 -0.29 24-Jun-2022 97.46 84.77 LU1963769176 -
Class E2 Hedged EUR None 9.88 -0.03 -0.30 24-Jun-2022 10.94 9.82 LU0803752129 -
Class A2 Hedged JPY - 917.00 -3.00 -0.33 24-Jun-2022 1,007.00 909.00 LU2367605297 -
Class A6 CNH Monthly 93.38 -0.26 -0.28 24-Jun-2022 104.11 92.94 LU1852330734 -

Literature

Literature