Fixed Income

BlackRock China Bond Fund

IMPORTANT:
• The Fund may invest in debt securities that are subject to actual or perceived ratings downgrade. An increase in interest rates may adversely affect the value of the bonds held by the Fund. The Fund may invest in non-investment grade and unrated bonds that may be subject to higher default, volatility and liquidity risks. The Fund invests in bonds issued or guaranteed by governments or authorities, which may involve political, economic, default or other risks. The Fund may invest in urban investment bonds issued by Chinese local government financing vehicles (“LGFVs”) that are subject to default risk of the LGFVs.
• The Fund is subject to restrictions and requirements applicable to the Renminbi Qualified Foreign Institutional Investor (“RQFII”) investments, which may adversely affect the fund’s value due to quota limitations and regulatory uncertainties. The Fund is subject to risks associated with investment in the China Interbank Bond Market.
• The Fund's investments are concentrated in People’s Republic of China (PRC). This may result in greater volatility than more broad-based investments. The Fund invests in certain emerging markets and may be subject to political, tax, economic, social and foreign exchange risks.
• The Fund is subject to PRC tax risks, currency risks, securities lending counterparty risks, foreign investments restrictions risks, currency control/ conversion risks and currency hedging risk.
Class 6 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Paying dividends gross of expenses may result in more income being available for distribution; however these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
• The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
• The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
• Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.

Overview

Loading

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

Performance

Performance

Chart

Performance chart data not available for display.
View Charts & Calendar Year Performance
  1y 3y 5y 10y Incept.
13.03 5.53 5.29 - 4.74
  YTD 6m 1y 3y 5y 10y Incept.
8.25 10.39 13.03 17.52 29.42 - 50.90
Past performance is not a guide to future performance. Investors may not get back the full amount invested.

Performance is calculated based on the period NAV-to-NAV with dividend reinvested. Performance figures are calculated net of fees.

These figures show by how much the Share Class of the Fund increased or decreased in value during the period being shown. Performance is calculated in the relevant share class currency, including ongoing charges and taxes and excluding subscription and redemption fees, if applicable.

Where no past performance is shown there was insufficient data available in that period to provide performance.

Please refer to the Key Facts section for the inception date of the Fund and the Share Class.
BlackRock China Bond Fund
Unleash the potential of China bonds
Read more Read more
BlackRock China Bond Fund

Key Facts

Key Facts

Size of Fund (Millions) as of 22-Oct-2020 RMB 20,369.724 M
Base Currency RMB
Fund Inception 11-Nov-2011
Share Class Currency USD
Share Class Inception Date 11-Nov-2011
Additional Currencies AUD, CAD, CHF, EUR, GBP, HKD, NZD, RMB, SGD
Asset Class Fixed Income
Morningstar Category RMB Bond
Distribution Frequency Non-Distributing
ISIN LU0679941327
Bloomberg Ticker BGRBA2U
Management Fee (incl Distribution Fee, if any) 0.75%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Sep-2020 5.24
Modified Duration as of 30-Sep-2020 4.02 yrs
12M Trailing Distribution as of - -
Effective Duration as of 30-Sep-2020 3.43
3y Volatility as of 30-Sep-2020 6.55
5yr Volatility as of 30-Sep-2020 6.36
Since Class Inception – Volatility as of 30-Sep-2020 5.69
Since Class Inception - Beta as of 30-Sep-2020 1.03

Ratings

Ratings

Morningstar Rating

5
As of 31-Jan-2020
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Sep-2020
Name Weight (%)
YINCHUAN TONGLIAN CAPITAL INVESTME RegS 4.45 06/10/2023 1.59
COASTAL EMERALD LTD RegS 4.3 12/31/2049 1.39
CCCI TREASURE LTD RegS 3.425 12/31/2049 1.29
OVERSEAS CHINESE TOWN (ASIA) HOLDI RegS 4.5 12/31/2049 1.20
GUANGXI FINANCIAL INVESTMENT GROUP RegS 5.75 01/23/2021 1.16
Name Weight (%)
CHENGDU COMMUNICATIONS INVESTMENT RegS 4.75 12/13/2027 1.11
SINO-OCEAN LAND TREASURE IV LTD RegS 4.75 08/05/2029 1.05
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.39 03/16/2050 0.97
CHINA DEVELOPMENT BANK 3 08/07/2023 0.87
HUANENG POWER INTERNATIONAL INC MTN 4.53 12/31/2049 0.86
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.
Holdings subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-2020

% of Weight

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 geography where the issuer of the securities carries out much of their business. “Others” excluded from the chart above.
as of 30-Sep-2020

% of Weight

Type Fund
as of 30-Sep-2020

% of Weight

Type Fund
Allocations subject to change.
as of 30-Sep-2020

% of Weight

Type Fund
as of 30-Sep-2020

% of Weight

Type Fund
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch. This breakdown is provided by BlackRock and takes the middle rating of the agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Ratings and portfolio credit quality may change over time.
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.
Due to rounding, the total may not be equal to 100%

Pricing

Pricing

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A2 USD Non-Distributing 15.52 -0.06 -0.39 22-Oct-2020 15.58 13.08 LU0679941327
C2 USD Non-Distributing 13.89 -0.06 -0.43 22-Oct-2020 13.95 11.79 LU0683062482
A2 Hedged USD Non-Distributing 10.61 0.00 0.00 22-Oct-2020 10.64 9.64 LU2070343392
D2 Hedged EUR Non-Distributing 10.29 0.00 0.00 22-Oct-2020 10.33 9.38 LU2112292417
A6 Hedged NZD Monthly 10.00 0.00 0.00 22-Oct-2020 10.12 9.39 LU2077746340
A6 Hedged USD Monthly 10.24 0.01 0.10 22-Oct-2020 10.33 9.64 LU1847653141
A3 RMB Monthly 73.89 0.05 0.07 22-Oct-2020 74.01 68.07 LU0679941160
D2 Hedged USD Non-Distributing 10.39 0.00 0.00 22-Oct-2020 10.41 9.42 LU2112292250
A6 Hedged GBP Monthly 9.96 0.00 0.00 22-Oct-2020 10.10 9.39 LU2077746779
A6 Hedged EUR Monthly 9.68 0.01 0.10 22-Oct-2020 9.88 9.17 LU1847653224
A6 Hedged HKD Monthly 100.55 0.04 0.04 22-Oct-2020 101.43 94.46 LU1963769176
A2 CHF Non-Distributing 14.08 -0.01 -0.07 22-Oct-2020 14.10 12.71 LU0969580058
D2 USD Non-Distributing 15.54 -0.06 -0.38 22-Oct-2020 15.60 13.07 LU0719319435
D4 Hedged GBP Annually 10.07 0.01 0.10 22-Oct-2020 10.31 9.38 LU2112292177
A3 USD Monthly 11.07 -0.05 -0.45 22-Oct-2020 11.12 9.57 LU0679941673
A3 HKD Monthly 85.83 -0.35 -0.41 22-Oct-2020 86.18 74.25 LU0690034276
A2 RMB Non-Distributing 103.54 0.07 0.07 22-Oct-2020 103.54 92.99 LU0679940949
D3 USD Monthly 11.12 -0.05 -0.45 22-Oct-2020 11.17 9.62 LU0683067952
D2 RMB Non-Distributing 103.67 0.07 0.07 22-Oct-2020 103.67 92.91 LU0827885731
A6 Hedged AUD Monthly 10.09 0.00 0.00 22-Oct-2020 10.25 9.52 LU1852331039
A6 Hedged CAD Monthly 10.01 0.00 0.00 22-Oct-2020 10.13 9.42 LU2077746696
A6 Hedged SGD Monthly 10.19 0.00 0.00 22-Oct-2020 10.32 9.60 LU1847653497
A6 RMB Monthly 105.59 0.07 0.07 22-Oct-2020 106.12 98.27 LU1852330734

Portfolio Managers

Portfolio Managers

Artur Piasecki
Artur Piasecki
Eric Liu
Eric Liu

Documents

Documents