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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  1y 3y 5y 10y Incept.
6.86 - - - 6.47
 
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

Size of Fund (Millions) as of 21-Jan-2021 USD 96.551 M
Base Currency USD
Fund Inception 20-Aug-2019
Share Class Currency RMB
Share Class Inception Date 20-Aug-2019
Additional Currencies USD
Asset Class Fixed Income
Morningstar Category -
Distribution Frequency Monthly
ISIN HK0000506599
Bloomberg Ticker BRCUBA8 HK
Management Fee (incl Distribution Fee, if any) 1.00%
Initial Charge 3.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 31-Dec-2020 4.70
Modified Duration as of 31-Dec-2020 3.53 yrs
Effective Duration as of 31-Dec-2020 3.49
3y Volatility as of - -
5yr Volatility as of - -
Since Class Inception – Volatility as of 31-Dec-2020 5.30
Since Class Inception - Beta as of - -

Sustainability Characteristics

Sustainability Characteristics

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. 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 31-Dec-2020 0.00%
MSCI - UN Global Compact Violators as of 31-Dec-2020 0.00%
MSCI - Nuclear Weapons as of 31-Dec-2020 0.00%
MSCI - Thermal Coal as of 31-Dec-2020 0.00%
MSCI - Civilian Firearms as of 31-Dec-2020 0.00%
MSCI - Oil Sands as of 31-Dec-2020 0.00%
MSCI - Tobacco as of 31-Dec-2020 0.00%

Business Involvement Coverage as of 31-Dec-2020 49.71%
Percentage of Fund not covered as of 31-Dec-2020 50.29%
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 0.00% and for Oil Sands 0.66%.

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 31-Dec-2020
Name Weight (%)
CHINA GREAT WALL INTERNATIONAL HOLDINGS IV LTD 2.89
COASTAL EMERALD LTD 2.40
HUARONG FINANCE 2019 CO LTD 2.33
GUANGXI FINANCIAL INVESTMENT GROUP CO LTD 2.23
CHANG DEVELOPMENT INTERNATIONAL LTD 2.15
Name Weight (%)
LANZHOU URBAN CONSTRUCTION INVESTMENT & DEVELOPMENT CO LTD 1.91
YUNDA HOLDING INVESTMENT LIMITED 1.91
CHENGDU TIANFU NEW AREA INVESTMENT GROUP CO LTD 1.89
CHENGDU XINGCHENG INVESTMENT GROUP CO LTD 1.71
YINCHUAN TONGLIAN CAPITAL INVESTMENT OPERATION CO LTD 1.69
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-Dec-2020

% 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 31-Dec-2020

% of Weight

Type Fund
as of 31-Dec-2020

% of Weight

Type Fund
Allocations subject to change.
as of 31-Dec-2020

% of Weight

Type Fund
as of 31-Dec-2020

% 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%

Participating Dealers

Pricing

Pricing

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A8 Hedged RMB Monthly 100.9130 0.1013 0.10 21-Jan-2021 101.6917 95.1342 HK0000506599
A6 USD Monthly 10.0110 0.0086 0.09 21-Jan-2021 10.1680 9.5138 HK0000506581
A2 USD - 10.7094 0.0091 0.09 21-Jan-2021 10.7191 9.7330 HK0000506573

Portfolio Managers

Portfolio Managers

Eric Liu
Eric Liu
Artur Piasecki
Artur Piasecki

Documents

Documents