Fixed Income

BlackRock Asian Tiger Bond Fund

IMPORTANT:
•  The Fund may invest in debt securities that are subject to actual or perceived ratings downgrade. The Fund invests in certain emerging markets and may be subject to political, tax, economic, social and foreign exchange risks. 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 is subject to currency risk, foreign investments restrictions risk, geographical concentration risk in Asian Tiger countries, liquidity risk, securities lending counterparty risk, currency conversion risk including Renminbi denominated Classes and contingent convertible bonds risk.
•  Class 6 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Class 8 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion and include interest rate differentials arising from share class currency hedging. Negative interest rate differentials may decrease the dividends paid. 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

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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

Chart

Performance chart data not available for display.
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Distributions

Ex-Date Distribution
View full table
  1y 3y 5y 10y Incept.
7.22 5.10 3.52 - 4.08
  YTD 6m 1y 3y 5y 10y Incept.
-1.02 0.27 7.22 16.11 18.87 - 43.21
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

Size of Fund (Millions) as of 22-Jun-2021 USD 5,728.579 M
Base Currency U.S. Dollar
Fund Inception 02-Feb-1996
Share Class Currency Hong Kong Dollar
Share Class Inception Date 06-Jun-2012
Additional Currencies Australian Dollar, British Pound, Canadian Dollar, Euro, New Zealand Dollar, RMB, Singapore Dollar, U.S. Dollar, ZAR
Asset Class Fixed Income
Morningstar Category Other Bond
Distribution Frequency Monthly
ISIN LU0784395997
Bloomberg Ticker BGATA6H
Management Fee (incl Distribution Fee, if any) 1.00%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 28-May-2021 4.63
Modified Duration as of 28-May-2021 5.27 yrs
12M Trailing Distribution as of 31-May-2021 5.00%
Effective Duration as of 28-May-2021 5.14
3y Volatility as of 31-May-2021 6.17
5yr Volatility as of 31-May-2021 5.26
Since Class Inception – Volatility as of 31-May-2021 4.97
Since Class Inception - Beta as of 31-May-2021 1.17

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of 07-Jun-2021 BB
MSCI ESG Quality Score (0-10) as of 07-Jun-2021 3.34
MSCI ESG Quality Score - Peer Percentile as of 07-Jun-2021 42.02
MSCI ESG % Coverage as of 07-Jun-2021 81.31
Fund Lipper Global Classification as of 07-Jun-2021 Bond Asia Pacific HC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07-Jun-2021 457.39
Funds in Peer Group as of 07-Jun-2021 119
All data is from MSCI ESG Fund Ratings as of 07-Jun-2021, based on holdings as of 31-Dec-2020. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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.

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 28-May-2021 0.00%
MSCI - UN Global Compact Violators as of 28-May-2021 0.00%
MSCI - Nuclear Weapons as of 28-May-2021 0.00%
MSCI - Thermal Coal as of 28-May-2021 0.00%
MSCI - Civilian Firearms as of 28-May-2021 0.00%
MSCI - Oil Sands as of 28-May-2021 0.00%
MSCI - Tobacco as of 28-May-2021 0.00%

Business Involvement Coverage as of 28-May-2021 62.56%
Percentage of Fund not covered as of 28-May-2021 37.22%
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 1.60% and for Oil Sands 1.18%.

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.

Ratings

Ratings

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Effective 22-Dec-2016
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 28-May-2021
Name Weight (%)
INDONESIA (REPUBLIC OF) 7 09/15/2030 1.08
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 1.08
TSMC GLOBAL LTD RegS 1.75 04/23/2028 0.77
PERTAMINA PERSERO PT MTN RegS 3.1 01/21/2030 0.71
LENOVO GROUP LTD RegS 3.421 11/02/2030 0.71
Name Weight (%)
TENCENT HOLDINGS LTD MTN RegS 3.975 04/11/2029 0.71
GALAXY PIPELINE ASSETS BIDCO LTD RegS 2.94 09/30/2040 0.64
STAR ENERGY GEOTHERMAL DARAJAT II RegS 4.85 10/14/2038 0.63
PERIAMA HOLDINGS LLC RegS 5.95 04/19/2026 0.60
HUTAMA KARYA PERSERO PT MTN RegS 3.75 05/11/2030 0.59
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 28-May-2021

% 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 28-May-2021

% of Weight

Type Fund
as of 28-May-2021

% of Weight

Type Fund
Allocations subject to change.
as of 28-May-2021

% of Weight

Type Fund
as of 28-May-2021

% 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
A6 Hedged Hong Kong Dollar Monthly 84.86 -0.10 -0.12 22-Jun-2021 87.73 84.27 LU0784395997
A2 Hedged Singapore Dollar Non-Distributing 14.94 -0.01 -0.07 22-Jun-2021 15.12 14.22 LU0540000063
A1 U.S. Dollar Monthly (Daily Calculation) 12.98 -0.02 -0.15 22-Jun-2021 13.33 12.74 LU0063728728
A6 Hedged Euro Monthly 9.40 -0.01 -0.11 22-Jun-2021 9.76 9.34 LU1200839535
A8 Hedged RMB Monthly 99.54 -0.13 -0.13 22-Jun-2021 102.41 98.14 LU1257007309
A8 Hedged New Zealand Dollar Monthly 11.59 -0.01 -0.09 22-Jun-2021 11.96 11.50 LU1200839709
C2 U.S. Dollar Non-Distributing 35.47 -0.05 -0.14 22-Jun-2021 36.11 34.14 LU0147399470
D3 Hedged Singapore Dollar Monthly 9.94 -0.01 -0.10 22-Jun-2021 10.18 9.84 LU2250419038
A8 Hedged Australian Dollar Monthly 11.06 -0.01 -0.09 22-Jun-2021 11.41 10.98 LU0871639620
A3 HEDGED Australian Dollar Monthly 10.92 -0.01 -0.09 22-Jun-2021 11.20 10.75 LU0841155764
A2 Hedged Hong Kong Dollar Non-Distributing 99.37 -0.11 -0.11 22-Jun-2021 100.00 97.85 LU2290525943
A3 HEDGED Singapore Dollar Monthly 10.11 -0.01 -0.10 22-Jun-2021 10.36 9.93 LU0830182670
D2 U.S. Dollar Non-Distributing 15.54 -0.02 -0.13 22-Jun-2021 15.69 14.70 LU0776122383
A6 Hedged Singapore Dollar Monthly 9.25 -0.01 -0.11 22-Jun-2021 9.55 9.18 LU1149717156
A6 Hedged British Pound Monthly 7.03 -0.01 -0.14 22-Jun-2021 7.27 6.98 LU1200839618
A3 HEDGED New Zealand Dollar Monthly 11.51 -0.02 -0.17 22-Jun-2021 11.80 11.31 LU0803752632
A8 Hedged Canadian Dollar Monthly 10.66 -0.01 -0.09 22-Jun-2021 11.01 10.58 LU1200839881
C1 U.S. Dollar Monthly (Daily Calculation) 13.17 -0.01 -0.08 22-Jun-2021 13.51 12.92 LU0147399041
A2 U.S. Dollar Non-Distributing 46.34 -0.06 -0.13 22-Jun-2021 46.90 44.05 LU0063729296
A2 Hedged Euro Non-Distributing 11.21 -0.02 -0.18 22-Jun-2021 11.39 10.77 LU1250980452
D4 Hedged British Pound Annually 10.00 -0.02 -0.20 22-Jun-2021 10.28 9.73 LU1250979793
D2 Hedged Euro Non-Distributing 13.12 -0.02 -0.15 22-Jun-2021 13.30 12.54 LU0969580132
D2 Hedged Singapore Dollar Non-Distributing 14.52 -0.02 -0.14 22-Jun-2021 14.66 13.75 LU0969580215
D3 Hedged Hong Kong Dollar Monthly 11.21 -0.02 -0.18 22-Jun-2021 11.50 11.00 LU0827875690
D3 U.S. Dollar Monthly 13.03 -0.02 -0.15 22-Jun-2021 13.35 12.78 LU0827875344
D6 U.S. Dollar Monthly 11.95 -0.01 -0.08 22-Jun-2021 12.31 11.84 LU0827875427
A3 U.S. Dollar Monthly 13.02 -0.02 -0.15 22-Jun-2021 13.35 12.77 LU0172393414
A8 Hedged ZAR Monthly 105.17 -0.12 -0.11 22-Jun-2021 107.85 103.63 LU1023054775
A3 HEDGED Hong Kong Dollar Monthly 11.20 -0.01 -0.09 22-Jun-2021 11.49 10.99 LU0496654236
A6 U.S. Dollar Monthly 11.35 -0.01 -0.09 22-Jun-2021 11.72 11.26 LU0764618053
A3 HEDGED Euro Monthly 9.07 -0.01 -0.11 22-Jun-2021 9.34 8.99 LU0841166456

Portfolio Managers

Portfolio Managers

Neeraj Seth
Neeraj Seth
Artur Piasecki
Artur Piasecki
Ronie Ganguly
Ronie Ganguly

Documents

Documents