Fixed Income

BlackRock Premier China US Dollar Bond Fund

IMPORTANT:
• The Fund is subject to credit/insolvency risk of the issuer of the fixed income securities and unsecured bonds. Investment grade securities invested by the Fund is subject to credit rating downgrading risk. The Fund’s investments in sovereign debt securities may be exposed to economic, political, default or other risks. An increase in interest rates may adversely affect the value of the fixed income securities held by the Fund. The Fund may invest in below investment grade and unrated bonds that may be subject to higher default, volatility, valuation and liquidity risks.  
• The Fund invests primarily in China USD bonds. This may result in greater volatility than a more diverse portfolio of investments. The Fund invests primarily in fixed income securities associated with Mainland China, which may be subject to greater liquidity and volatility than more developed markets, and may involve in greater currency, political, economic, taxation, settlement and custody risks. The Fund is subject to liquidity risk, contingent convertible bonds risk, currency risk and currency conversion risk including Renminbi denominated Classes.
Class 6 Units pay dividends gross of expenses and/or from capital at the Directors’ discretion. Class 8 Units pay dividends gross of expenses and/or from capital at the Directors’ discretion and include interest rate differentials arising from unit 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 units 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 unit class on the ex-dividend date.
• 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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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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  2019 2020 2021 2022 2023
Total Return (%) 6.86 -3.00 -9.16 1.50

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

  1y 3y 5y 10y Incept.
1.86 -3.08 - - -0.36
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
0.94 -0.24 0.33 3.59 1.86 -8.96 - - -1.67
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.

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 on the right for the inception date of the Fund and the Share Class.

Key Facts

Key Facts

Net Assets of Fund
as of 23-May-2024
USD 30,486,572
Fund Inception
20-Aug-2019
Fund Base Currency
USD
Initial Charge
3.00%
Management Fee (incl Distribution Fee, if any)
1.00%
Distribution Frequency
Monthly
Morningstar Category
-
SEDOL
BKF39J5
Share Class Inception Date
20-Aug-2019
Share Class Currency
CNY
Asset Class
Fixed Income
ISIN
HK0000506599
Performance Fee
-
Domicile
Hong Kong
Bloomberg Ticker
BRCUBA8 HK
SFC-authorised ESG fund
No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 29-Dec-2023
175
Standard Deviation (3y)
as of 30-Apr-2024
4.32%
Modified Duration
as of 30-Apr-2024
1.47 yrs
Effective Duration
as of 30-Apr-2024
1.49
WAL to Worst
as of 30-Apr-2024
3.47
12M Trailing Distribution
as of -
-
Yield to Maturity
as of 30-Apr-2024
7.15
Yield to Worst
as of 30-Apr-2024
6.47
Weighted Avg Maturity
as of 30-Apr-2024
3.47

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 30-Apr-2024
0.00%
MSCI - Nuclear Weapons
as of 30-Apr-2024
0.00%
MSCI - Civilian Firearms
as of 30-Apr-2024
0.00%
MSCI - Tobacco
as of 30-Apr-2024
0.00%
MSCI - UN Global Compact Violators
as of 30-Apr-2024
0.00%
MSCI - Thermal Coal
as of 30-Apr-2024
0.00%
MSCI - Oil Sands
as of 30-Apr-2024
0.00%

Business Involvement Coverage
as of 30-Apr-2024
60.01%
Percentage of Fund not covered
as of 30-Apr-2024
40.01%
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 0.68% and for Oil Sands 5.65%.

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.

Ratings

Holdings

Holdings

as of 30-Apr-2024
Name Weight (%)
CHINALCO CAPITAL HOLDINGS LTD 3.34
CHINA HUANENG GROUP (HONG KONG) TREASURY MANAGEMENT HOLDING LTD 3.00
MINMETALS BOUNTEOUS FINANCE (BVI) LTD 2.31
SINOPEC GROUP OVERSEAS DEVELOPMENT 2018 LTD 1.92
DIANJIAN HAIYU LTD 1.88
Name Weight (%)
CHINA HUADIAN OVERSEAS DEVELOPMENT MANAGEMENT COMPANY LTD 1.68
CHINA MODERN DAIRY HOLDINGS LTD 1.66
HYUNDAI CAPITAL AMERICA 1.66
CHINA RESOURCES LAND LTD 1.65
BLUESTAR FINANCE HOLDINGS LTD 1.64
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
as of 30-Apr-2024

% of Weight

Type Fund
as of 30-Apr-2024

% 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
A8 Hedged CNY Monthly 76.07 -0.04 -0.05 23-May-2024 76.49 74.30 HK0000506599
A2 USD - 9.85 0.00 -0.04 23-May-2024 9.86 9.26 HK0000506573
A6 Hedged GBP Monthly 8.35 0.00 -0.04 23-May-2024 8.39 8.12 HK0000786019
A6 Hedged EUR Monthly 8.07 0.00 -0.04 23-May-2024 8.16 7.90 HK0000786043
A6 Hedged AUD Monthly 8.24 0.00 -0.04 23-May-2024 8.30 8.04 HK0000785995
A6 USD Monthly 7.80 0.00 -0.04 23-May-2024 7.82 7.55 HK0000506581
A6 Hedged HKD Monthly 83.00 -0.03 -0.04 23-May-2024 83.46 80.89 HK0000786035
A6 Hedged NZD Monthly 8.48 0.00 -0.04 23-May-2024 8.51 8.23 HK0000786027
A6 Hedged CAD Monthly 8.42 0.00 -0.04 23-May-2024 8.45 8.19 HK0000786001

Portfolio Managers

Portfolio Managers

Yii Hui Wong
Yii Hui Wong
Suanjin Tan
Suanjin Tan

Documents

Documents