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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Past performance is not a guide to future performance. Investors may not get back the full amount invested.

If the share class of the fund has been launched for less than 5 years, please refer to the fund factsheet for the performance information calculated from the launch date to the end of launch year.

Performance is calculated based on the calendar year end, 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 calendar year 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 calendar year to provide performance.

Please refer to the Key Facts section on the right for the inception date of the Fund and the Share Class.
  1y 3y 5y 10y Incept.
-9.94 -2.35 - - -1.64
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-10.33 1.81 -2.78 -5.09 -9.94 -6.88 - - -5.27
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 05-Dec-2022 USD 46,240,664
Share Class Inception Date 20-Aug-2019
Fund Inception 20-Aug-2019
Share Class Currency CNY
Fund Base Currency USD
Asset Class Fixed Income
Initial Charge 3.00%
Management Fee (incl Distribution Fee, if any) 1.00%
Performance Fee -
Distribution Frequency Monthly
Domicile Hong Kong
Morningstar Category -
Bloomberg Ticker -
Bloomberg Ticker BRCUBA8 HK
ISIN HK0000506599
SEDOL BKF39J5
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-2021 189
12M Trailing Distribution as of - -
Standard Deviation (3y) as of 30-Nov-2022 5.43%
Yield to Maturity as of 30-Nov-2022 7.58
Modified Duration as of 30-Nov-2022 1.30 yrs
Yield to Worst as of 30-Nov-2022 7.45
Effective Duration as of 30-Nov-2022 1.38
Weighted Avg Maturity as of 30-Nov-2022 2.95
WAL to Worst as of 30-Nov-2022 2.95

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. 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-Nov-2022 0.00%
MSCI - UN Global Compact Violators as of 30-Nov-2022 0.00%
MSCI - Nuclear Weapons as of 30-Nov-2022 0.00%
MSCI - Thermal Coal as of 30-Nov-2022 0.00%
MSCI - Civilian Firearms as of 30-Nov-2022 0.00%
MSCI - Oil Sands as of 30-Nov-2022 0.00%
MSCI - Tobacco as of 30-Nov-2022 0.00%

Business Involvement Coverage as of 30-Nov-2022 57.14%
Percentage of Fund not covered as of 30-Nov-2022 42.59%
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 0.94% and for Oil Sands 2.56%.

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

Holdings

Holdings

as of 30-Nov-2022
Name Weight (%)
COASTAL EMERALD LTD 2.31
SND INTERNATIONAL (BVI) CO LTD 2.17
CHINALCO CAPITAL HOLDINGS LTD 2.17
MCC HOLDING (HONG KONG) CORP LTD 2.08
CHINA HUANENG GROUP (HONG KONG) TREASURY MANAGEMENT HOLDING LTD 1.92
Name Weight (%)
CHINA RESOURCES LAND LTD 1.86
OCEAN LAUREL CO LIMITED 1.77
GUANGXI FINANCIAL INVESTMENT GROUP CO LTD 1.76
CHENGDU TIANFU NEW AREA INVESTMENT GROUP CO LTD 1.73
SUNRISE CAYMAN LTD 1.54
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-Nov-2022

% of Weight

Type Fund
as of 30-Nov-2022

% of Weight

Type Fund
as of 30-Nov-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
A8 Hedged CNY Monthly 77.63 0.14 0.18 05-Dec-2022 92.43 75.28 HK0000506599 -
A6 Hedged NZD Monthly 8.44 0.02 0.21 05-Dec-2022 9.93 8.16 HK0000786027 -
A6 Hedged EUR Monthly 8.26 0.02 0.20 05-Dec-2022 9.93 8.00 HK0000786043 -
A6 Hedged AUD Monthly 8.35 0.02 0.20 05-Dec-2022 9.91 8.08 HK0000785995 -
A2 USD - 9.11 0.02 0.22 05-Dec-2022 10.21 8.77 HK0000506573 -
A6 Hedged GBP Monthly 8.37 0.02 0.20 05-Dec-2022 9.93 8.09 HK0000786019 -
A6 Hedged HKD Monthly 83.60 0.16 0.19 05-Dec-2022 99.30 80.92 HK0000786035 -
A6 Hedged CAD Monthly 8.43 0.02 0.20 05-Dec-2022 9.94 8.15 HK0000786001 -
A6 USD Monthly 7.72 0.02 0.22 05-Dec-2022 9.09 7.46 HK0000506581 -

Portfolio Managers

Portfolio Managers

Yii Hui Wong
Yii Hui Wong
Suanjin Tan
Suanjin Tan

Documents

Documents