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.

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

Chart

Performance chart data not available for display.
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Distributions

Ex-Date Total Distribution
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This chart shows the fund's performance as the percentage loss or gain per year over the last 1 years.

  2018 2019 2020 2021 2022
Total Return (%) -4.7
Comparator Benchmark 1 (%) 1.5

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

  1y 3y 5y 10y Incept.
0.80 - - - -2.81
Comparator Benchmark 1 (%) 1.50 - - - 1.50
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.80 -0.76 0.11 -0.13 0.80 - - - -6.44
Comparator Benchmark 1 (%) 1.00 0.13 0.38 0.75 1.50 - - - 3.55
  From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
Total Return (%)

as of 30.Jun2023

- - - -7.28 0.88
Comparator Benchmark 1 (%)

as of 30.Jun2023

- - - 1.50 1.50

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 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 27.Sep2023 RMB 25,176,351,380
Share Class launch date 28.Apr2021
Fund Launch Date 11.Nov2011
Share Class Currency SGD
Fund Base Currency CNH
Asset Class Fixed Income
Comparator Benchmark 1 1Y China Household Savings Deposits Rate Index
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charges Figures 0.47%
ISIN LU2325727365
Annual Management Fee 0.40%
Performance Fee 0.00%
Minimum Initial Investment SGD 10,000,000.00
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 BGBCBIS
SEDOL BMYLHM3

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31.Aug2023 483
12 Month Trailing Dividend Distribution Yield as of 30.Sep2023 5.38%
Standard Deviation (3y) as of - -
3y Beta as of - -
Yield to Maturity as of 31.Aug2023 5.97%
Modified Duration as of 31.Aug2023 5.35
Weighted Average YTM as of 31.Aug2023 6.04%
Effective Duration as of 31.Aug2023 3.64
Weighted Avg Maturity as of 31.Aug2023 4.92
WAL to Worst as of 31.Aug2023 4.92

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) 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. 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.Aug2023 0.00%
MSCI - UN Global Compact Violators as of 31.Aug2023 0.98%
MSCI - Nuclear Weapons as of 31.Aug2023 0.00%
MSCI - Thermal Coal as of 31.Aug2023 0.11%
MSCI - Civilian Firearms as of 31.Aug2023 0.00%
MSCI - Oil Sands as of 31.Aug2023 0.00%
MSCI - Tobacco as of 31.Aug2023 0.00%

Business Involvement Coverage as of 31.Aug2023 55.19%
Percentage of Fund not covered as of 31.Aug2023 44.37%
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 2.65% and for Oil Sands 0.22%.

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 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 during the investment process. In the initial idea generation and credit research process this may include an assessment of each company's positive ESG attributes or material risks or 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 generally highlighted in credit research reports and may influence investment decisions and security selection by portfolio managers. From a top-down perspective, ESG aggregate portfolio metrics are available for the Fund manager to review through BlackRock's Aladdin system. The Fund manager also considers environmental, social and governance criteria during post-investment 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, where appropriate.

Risk Labeling

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31.Aug2023
Name Weight (%)
ISHARES USD ASIA HY BOND ETF 4.24
CHINA CONSTRUCTION BANK CORP RegS 3.45 08/10/2031 1.75
BANK OF CHINA LTD RegS 4.2 09/21/2030 1.39
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.8 11/15/2032 1.17
CHINA DEVELOPMENT BANK 2.69 06/16/2027 1.16
Name Weight (%)
INDUSTRIAL AND COMMERCIAL BANK OF 4.15 11/16/2030 1.10
AGRICULTURAL DEVELOPMENT BANK OF C 3.01 03/16/2030 1.06
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.19 04/15/2053 1.06
AGRICULTURAL DEVELOPMENT BANK OF C 2.96 04/17/2030 1.06
AGRICULTURAL DEVELOPMENT BANK OF C 2.83 08/11/2029 1.04
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31.Aug2023

% of Market Value

Type Fund
as of 31.Aug2023

% of Market Value

Type Fund
as of 31.Aug2023

% of Market Value

Type Fund
as of 31.Aug2023

% 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
Class I6 Hedged SGD Monthly 8.24 -0.03 -0.36 27.Sep2023 8.61 8.24 LU2325727365
Class I6 CNH Monthly 86.37 -0.39 -0.45 27.Sep2023 91.56 86.37 LU1940842344
Class X3 USD Monthly 8.55 -0.04 -0.47 27.Sep2023 9.65 8.55 LU2469414325
Class X2 Hedged USD - 10.20 0.00 0.00 27.Sep2023 10.27 9.60 LU2092937064
Class I3 USD Monthly 8.38 -0.03 -0.36 27.Sep2023 9.46 8.37 LU1648248299
Class D2 CNH None 99.85 0.00 0.00 27.Sep2023 101.22 96.58 LU0827885731
Class A8 Hedged USD Monthly 9.91 -0.05 -0.50 27.Sep2023 10.32 9.91 LU2550100692
Class A2 CHF None 12.39 0.06 0.49 27.Sep2023 13.74 11.84 LU0969580058
Class A2 Hedged USD None 9.90 0.00 0.00 27.Sep2023 9.99 9.39 LU2070343392
Class A8 Hedged HKD Monthly 98.91 -0.47 -0.47 27.Sep2023 103.43 98.91 LU2550100429
Class D6 Hedged USD Monthly 8.06 -0.03 -0.37 27.Sep2023 8.36 8.01 LU2243824054
Class A6 Hedged CAD Monthly 7.89 -0.03 -0.38 27.Sep2023 8.25 7.89 LU2077746696
Class A2 Hedged SGD - 9.91 0.00 0.00 27.Sep2023 10.02 9.91 LU2631410169
Class A2 EUR None 12.82 0.08 0.63 27.Sep2023 14.36 12.30 LU2267099674
Class D2 Hedged SGD - 9.91 0.00 0.00 27.Sep2023 10.03 9.91 LU2631410243
Class A6 Hedged GBP Monthly 7.79 -0.03 -0.38 27.Sep2023 8.18 7.79 LU2077746779
Class A6 Hedged NZD Monthly 7.92 -0.04 -0.50 27.Sep2023 8.27 7.92 LU2077746340
Class D6 Hedged SGD Monthly 8.21 -0.03 -0.36 27.Sep2023 8.59 8.21 LU2325727282
Class D2 EUR None 12.97 0.08 0.62 27.Sep2023 14.48 12.43 LU2290526164
Class A6 Hedged USD Monthly 8.12 -0.03 -0.37 27.Sep2023 8.45 8.09 LU1847653141
Class A6 Hedged AUD Monthly 7.83 -0.03 -0.38 27.Sep2023 8.26 7.83 LU1852331039
Class I2 EUR - 16.37 0.10 0.61 27.Sep2023 18.24 15.68 LU2011139461
Class SR2 Hedged EUR - 9.04 0.00 0.00 27.Sep2023 9.15 8.74 LU2319961764
Class A6 Hedged EUR Monthly 7.31 -0.04 -0.54 27.Sep2023 7.80 7.31 LU1847653224
Class SR4 Hedged GBP Annual 8.43 0.01 0.12 27.Sep2023 8.87 8.37 LU2319961848
Class A6 Hedged SGD Monthly 7.99 -0.04 -0.50 27.Sep2023 8.41 7.99 LU1847653497
Class SR2 CNH - 95.34 0.02 0.02 27.Sep2023 96.58 92.13 LU2319961681
Class SR2 Hedged USD - 9.45 0.00 0.00 27.Sep2023 9.53 8.93 LU2319962069
Class SR3 USD Monthly 7.69 -0.03 -0.39 27.Sep2023 8.68 7.68 LU2319961921
Class A3 CNH Monthly 63.17 -0.14 -0.22 27.Sep2023 66.10 63.17 LU0679941160
Class I4 Hedged GBP Annual 8.27 0.00 0.00 27.Sep2023 8.71 8.22 LU2112291872
Class D2 Hedged EUR None 9.25 0.00 0.00 27.Sep2023 9.36 8.94 LU2112292417
Class I2 Hedged EUR - 9.29 0.00 0.00 27.Sep2023 9.40 8.97 LU2112292094
Class I2 Hedged USD - 9.85 0.00 0.00 27.Sep2023 9.93 9.31 LU2112291955
Class D2 Hedged USD None 9.79 0.00 0.00 27.Sep2023 9.87 9.27 LU2112292250
Class A3 HKD Monthly 67.52 -0.23 -0.34 27.Sep2023 76.44 67.52 LU0690034276
Class A2 USD None 13.49 -0.02 -0.15 27.Sep2023 14.86 13.07 LU0679941327
Class I2 USD None 17.22 -0.02 -0.12 27.Sep2023 18.90 16.60 LU1588882974
Class A2 CNH None 98.70 0.00 0.00 27.Sep2023 100.28 95.78 LU0679940949
Class A3 USD Monthly 8.63 -0.03 -0.35 27.Sep2023 9.75 8.63 LU0679941673
Class D3 USD Monthly 8.67 -0.03 -0.34 27.Sep2023 9.79 8.67 LU0683067952
Class D2 USD None 13.65 -0.01 -0.07 27.Sep2023 15.00 13.18 LU0719319435
Class A3 SGD Monthly 11.84 0.00 0.00 27.Sep2023 13.25 11.76 LU2298379152
Class SR6 Hedged USD Monthly 8.71 -0.03 -0.34 27.Sep2023 8.99 8.62 LU2391915761
Class D6 CNH Monthly 82.86 -0.38 -0.46 27.Sep2023 87.97 82.86 LU2243823916
Class I6 USD Hedged USD Monthly 8.53 -0.04 -0.47 27.Sep2023 8.83 8.47 LU2134542930
Class SR6 Hedged HKD Monthly 85.49 -0.37 -0.43 27.Sep2023 89.42 85.49 LU2391915332
Class I5 Hedged EUR Quarterly 8.06 0.00 0.00 27.Sep2023 8.42 8.06 LU2298320776
Class D4 Hedged GBP Annual 8.27 0.00 0.00 27.Sep2023 8.70 8.22 LU2112292177
Class SR2 USD - 13.03 -0.01 -0.08 27.Sep2023 14.31 12.57 LU2391915928
Class A6 Hedged HKD Monthly 78.25 -0.34 -0.43 27.Sep2023 82.44 78.25 LU1963769176
Class SR6 CNH Monthly 86.78 -0.37 -0.42 27.Sep2023 91.69 86.78 LU2391915688
Class SR6 Hedged SGD Monthly 8.61 -0.04 -0.46 27.Sep2023 8.99 8.61 LU2391915415
Class A2 Hedged JPY None 872.00 0.00 0.00 27.Sep2023 903.00 868.00 LU2367605297
Class SR6 Hedged EUR Monthly 8.36 -0.04 -0.48 27.Sep2023 8.86 8.36 LU2391915506
Class A6 CNH Monthly 85.60 -0.38 -0.44 27.Sep2023 91.11 85.60 LU1852330734
Class X2 USD - 10.90 -0.01 -0.09 27.Sep2023 11.94 10.48 LU1733225855

Portfolio Managers

Portfolio Managers

Yii Hui Wong
Yii Hui Wong
Suanjin Tan
Suanjin Tan
Yingbo Xu
Yingbo Xu

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 3 years
Example Investment SGD 15,000
Scenario
If you exit after 1 year
If you exit after 3 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
13,380 SGD
-10.8%
13,480 SGD
-3.5%

Unfavourable

What you might get back after costs
Average return each year
13,760 SGD
-8.3%
13,870 SGD
-2.6%

Moderate

What you might get back after costs
Average return each year
15,690 SGD
4.6%
17,630 SGD
5.5%

Favourable

What you might get back after costs
Average return each year
16,520 SGD
10.1%
18,440 SGD
7.1%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature

 
Please access the document library in order to find the KID/KIID in local language.