Equity

BlackRock Japan Small & MidCap Opportunities Fund

IMPORTANT:
• The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund's investments are concentrated in Japan. This may result in greater volatility than more broad-based investments. The Fund invests in smaller companies which can be more volatile and less liquid than those of larger companies.
• The Fund is subject to currency risk and liquidity risk.
• 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

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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

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  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) 7.03 25.97 9.45 23.13 9.59 22.64 -18.61 30.36 -0.66 10.71
Benchmark (%) 3.51 21.11 14.06 25.46 9.66 13.83 -12.05 19.54 -3.86 4.45
  1y 3y 5y 10y Incept.
-18.61 -1.84 0.39 8.68 2.95
Benchmark (%) -12.99 -3.13 -0.81 7.78 3.50
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-17.59 -0.30 -3.68 -5.02 -18.61 -5.41 1.97 129.86 57.96
Benchmark (%) -10.77 -0.66 -6.62 -2.19 -12.99 -9.09 -4.00 111.49 71.83
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.

Key Facts

Key Facts

Net Assets of Fund as of 29-Nov-2022 JPY 19,327,113,795
Share Class Inception Date 12-Feb-2007
Fund Inception 13-May-1987
Share Class Currency EUR
Fund Base Currency JPY
Asset Class Equity
Benchmark S&P Japan Mid Small Cap Index (EUR)
SFDR Classification Other
Initial Charge 5.00%
Management Fee (incl Distribution Fee, if any) 0.75%
Performance Fee 0.00%
Minimum Initial Investment EUR 100000
Minimum Subsequent Investment -
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Japan Small/Mid-Cap Equity
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MIGJODE
ISIN LU0252965594
SEDOL B43CMZ9
SFC-authorised ESG fund No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Oct-2022 79
Standard Deviation (3y) as of 31-Oct-2022 16.47%
P/E Ratio as of 31-Oct-2022 13.54
P/B Ratio as of 31-Oct-2022 1.19

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 ESG considerations in combination with other information in the research and decision phases 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’s ongoing monitoring of the portfolio involves regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion 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
As of 31-Jan-2020
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 31-Oct-2022
Name Weight (%)
FUKUOKA FINANCIAL GROUP INC 3.33
77 BANK LTD/THE 2.71
MITSUBISHI HC CAPITAL INC 2.23
ZENKOKU HOSHO CO LTD 2.09
RELO GROUP INC 2.03
Name Weight (%)
KYUDENKO CORP 2.01
ITOCHU TECHNO-SOLUTIONS CORP 1.98
HIKARI TSUSHIN INC. 1.94
DAITO TRUST CONSTRUCTION CO LTD 1.89
RAITO KOGYO CO LTD 1.87
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 31-Oct-2022

% of Weight

Type Fund
as of 31-Oct-2022

% of Weight

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.
Due to rounding, the total may not be equal to 100%

Pricing & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
D2 EUR Non-Distributing 67.38 0.24 0.36 29-Nov-2022 80.37 60.28 LU0252965594 -
A4 GBP Annually 51.93 0.07 0.13 29-Nov-2022 61.86 46.43 LU0204063480 -
A2 Hedged EUR Non-Distributing 52.95 -0.22 -0.41 29-Nov-2022 57.89 47.19 LU0255399742 -
D4 GBP Annually 53.54 0.08 0.15 29-Nov-2022 63.74 48.03 LU0827883017 -
A2 JPY Non-Distributing 8,633.00 -33.00 -0.38 29-Nov-2022 9,312.00 7,642.00 LU0249411835 -
C2 USD Non-Distributing 46.22 -0.21 -0.45 29-Nov-2022 61.43 40.65 LU0147408305 -
D2 USD Non-Distributing 69.70 -0.31 -0.44 29-Nov-2022 90.84 61.17 LU0827883108 -
D2 Hedged EUR Non-Distributing 57.14 -0.23 -0.40 29-Nov-2022 62.01 50.64 LU0827883280 -
A2 EUR Non-Distributing 60.21 0.22 0.37 29-Nov-2022 72.35 54.05 LU0171289068 -
A2 USD Non-Distributing 62.29 -0.28 -0.45 29-Nov-2022 81.78 54.70 LU0006061252 -
C2 JPY Non-Distributing 6,406.00 -25.00 -0.39 29-Nov-2022 6,995.00 5,722.00 LU0249422360 -
D2 JPY Non-Distributing 9,661.00 -37.00 -0.38 29-Nov-2022 10,344.00 8,505.00 LU0496417709 -
A2 Hedged USD Non-Distributing 17.26 -0.07 -0.40 29-Nov-2022 18.35 15.05 LU0931342652 -
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Hiroki Takayama
Hiroki Takayama
Keitaro Kanai
Keitaro Kanai

Documents

Documents