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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Distributions

Ex-Date Distribution
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  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 2.08 14.49 26.51 26.51 -17.86 21.94 5.20 1.83 -13.45 4.87
Benchmark (%) 6.39 19.16 27.00 18.37 -11.06 12.85 1.55 -2.02 -2.50 7.14

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

  1y 3y 5y 10y Incept.
14.62 -0.45 3.19 7.70 6.25
Benchmark (%) 8.01 0.86 2.50 7.99 3.37
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
5.27 -2.92 3.85 12.49 14.62 -1.34 16.98 109.88 840.80
Benchmark (%) 1.14 -4.03 0.02 7.37 8.01 2.60 13.13 115.60 240.77
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.

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 GBP, hedged share class benchmark performance is displayed in JPY.

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 17-May-2024 JPY 29,970,858,280
Share Class Inception Date 13-May-1987
Fund Inception 13-May-1987
Share Class Currency GBP
Fund Base Currency JPY
Asset Class Equity
Benchmark S&P Japan Mid Small Cap Index (GBP)
SFDR Classification Article 8
Initial Charge 5.00%
ISIN LU0204063480
Management Fee (incl Distribution Fee, if any) 1.50%
Performance Fee 0.00%
Minimum Initial Investment GBP 5000
Minimum Subsequent Investment GBP 1000
Use of Income Distributing
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 MJOPADS
SEDOL B23P9D1
SFC-authorised ESG fund No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30-Apr-2024 91
12M Trailing Distribution as of 30-Apr-2024 0.25%
Standard Deviation (3y) as of 30-Apr-2024 11.26%
3y Beta as of 30-Apr-2024 0.978
P/E Ratio as of 30-Apr-2024 17.73
P/B Ratio as of 30-Apr-2024 1.30

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 in the research phase 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 conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, 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 30-Apr-2024
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Apr-2024
Name Weight (%)
MITSUBISHI LOGISTICS CORPORATION 1.91
TOHO GAS CO LTD 1.86
KINDEN CORPORATION 1.84
FUKUOKA FINANCIAL GROUP INC 1.77
DAI-DAN CO LTD 1.76
Name Weight (%)
JAPAN METROPOLITAN FUND INVESTMENT CORP 1.66
KAJIMA CORPORATION 1.65
KONOIKE TRANSPORT CO LTD 1.64
TOKYO TATEMONO CO. LTD. 1.58
HOKUHOKU FINANCIAL GROUP INC 1.57
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-Apr-2024

% of Weight

Type Fund Benchmark Net
as of 30-Apr-2024

% of Weight

Type Fund Benchmark Net
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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A4 GBP 55.73 -0.11 -0.20 17-May-2024 58.72 47.94 LU0204063480
C2 USD 51.69 0.01 0.02 17-May-2024 54.23 43.81 LU0147408305
D2 JPY 12,500.00 24.00 0.19 17-May-2024 12,722.00 9,492.00 LU0496417709
A2 JPY 11,048.00 21.00 0.19 17-May-2024 11,245.00 8,450.00 LU0249411835
C2 JPY 8,049.00 15.00 0.19 17-May-2024 8,199.00 6,231.00 LU0249422360
D2 Hedged EUR 77.16 0.15 0.19 17-May-2024 78.44 56.63 LU0827883280
A2 EUR 65.35 0.02 0.03 17-May-2024 69.00 55.85 LU0171289068
A2 Hedged EUR 70.73 0.14 0.20 17-May-2024 71.91 52.28 LU0255399742
D2 EUR 73.94 0.02 0.03 17-May-2024 78.01 62.77 LU0252965594
D2 USD 80.27 0.02 0.02 17-May-2024 83.95 67.20 LU0827883108
D4 GBP 57.69 -0.11 -0.19 17-May-2024 60.75 49.63 LU0827883017
A2 Hedged USD 23.73 0.05 0.21 17-May-2024 24.12 17.26 LU0931342652
A2 USD 70.94 0.01 0.01 17-May-2024 74.28 59.67 LU0006061252
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Hiroki Takayama
Hiroki Takayama

Documents

Documents