Fixed Income

BGF Asian Tiger Bond Fund

Overview

Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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  From
30-Jun-2016
To
30-Jun-2017
From
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
Total Return (%)

as of 30-Jun-2021

4.01 -1.81 10.00 4.05 5.30
Benchmark (%)

as of 30-Jun-2021

3.10 -0.70 10.01 5.39 3.85
  1y 3y 5y 10y Incept.
5.30 6.42 4.24 - 4.34
Benchmark (%)

as of 30-Jun-2021

3.85 6.39 4.27 - 4.47
  YTD 1m 3m 1y 3y 5y 10y Incept.
-0.64 0.08 0.84 5.30 20.53 23.09 - 44.83
Benchmark (%)

as of 30-Jun-2021

-0.12 0.43 1.07 3.85 20.41 23.27 - 46.38

Key Facts

Key Facts

Size of Fund (Millions) as of 29-Jul-2021 USD 5,534.37
12m Trailing Yield as of 30-Jun-2021 3.72
Number of Holdings as of 30-Jun-2021 482
Base Currency U.S. Dollar
Fund Launch Date 02-Feb-1996
Share Class launch date 11-Oct-2012
Asset Class Fixed Income
Morningstar Category Asia Bond
Benchmark Index JP Morgan Asia Credit Index
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 0.72%
ISIN LU0827875344
Bloomberg Ticker BATBD3U
Annual Management Fee 0.50%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B88TR92
Bloomberg Benchmark Ticker JACI_INX
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 100000
Minimum Subsequent Investment USD 1000
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Maturity as of 30-Jun-2021 4.97
Modified Duration as of 30-Jun-2021 5.30
Effective Duration as of 30-Jun-2021 5.17
Weighted Avg Maturity as of 30-Jun-2021 7.18
3y Volatility - Benchmark as of 30-Jun-2021 4.79
3y Beta as of 30-Jun-2021 1.260
5y Volatility - Benchmark as of 30-Jun-2021 4.12
5y Beta as of 30-Jun-2021 1.242
WAL to Worst as of 30-Jun-2021 7.18

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-Jul-2021 BB
MSCI ESG Quality Score (0-10) as of 07-Jul-2021 3.47
MSCI ESG Quality Score - Peer Percentile as of 07-Jul-2021 47.54
MSCI ESG % Coverage as of 07-Jul-2021 81.66
Fund Lipper Global Classification as of 07-Jul-2021 Bond Asia Pacific HC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07-Jul-2021 452.00
Funds in Peer Group as of 07-Jul-2021 122
All data is from MSCI ESG Fund Ratings as of 07-Jul-2021, based on holdings as of 31-Jan-2021. 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 30-Jun-2021 0.00%
MSCI - UN Global Compact Violators as of 30-Jun-2021 0.00%
MSCI - Nuclear Weapons as of 30-Jun-2021 0.00%
MSCI - Thermal Coal as of 30-Jun-2021 0.00%
MSCI - Civilian Firearms as of 30-Jun-2021 0.00%
MSCI - Oil Sands as of 30-Jun-2021 0.00%
MSCI - Tobacco as of 30-Jun-2021 0.00%

Business Involvement Coverage as of 30-Jun-2021 62.70%
Percentage of Fund not covered as of 30-Jun-2021 37.94%
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 1.70% and for Oil Sands 1.23%.

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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BGF Asian Tiger Bond Fund, Class D3, as of 30-Jun-2021 rated against 348 Asia Bond Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 26-Aug-2020)

Holdings

Holdings

as of 30-Jun-2021
Name Weight (%)
INDONESIA (REPUBLIC OF) 7 09/15/2030 1.07
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 1.07
LENOVO GROUP LTD RegS 3.421 11/02/2030 0.73
PERTAMINA PERSERO PT MTN RegS 3.1 01/21/2030 0.73
TENCENT HOLDINGS LTD MTN RegS 3.975 04/11/2029 0.73
Name Weight (%)
PERIAMA HOLDINGS LLC RegS 5.95 04/19/2026 0.61
STAR ENERGY GEOTHERMAL DARAJAT II RegS 4.85 10/14/2038 0.60
JMH COMPANY LIMITED RegS 2.5 04/09/2031 0.60
SK BATTERY AMERICA INC RegS 2.125 01/26/2026 0.59
DUA CAPITAL LTD RegS 2.78 05/11/2031 0.59
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Jun-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Jun-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Jun-2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Jun-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Jun-2021

% of Market Value

Type Fund Benchmark Net
as of 30-Jun-2021

% of Market Value

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.

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class D3 USD Monthly 12.78 -0.02 -0.16 13.35 12.78 - LU0827875344 - -
Class I5 EUR Hedged EUR Quarterly 8.94 -0.02 -0.22 9.41 8.94 - LU1196525700 - -
Class D4 Hedged GBP Annual 9.84 -0.01 -0.10 10.28 9.73 - LU1250979793 - -
Class A1 USD Daily 12.72 -0.02 -0.16 13.33 12.72 - LU0063728728 - -
Class I2 Hedged EUR None 11.48 -0.02 -0.17 11.83 11.40 - LU1250973911 - -
Class A2 USD None 45.56 -0.07 -0.15 46.90 45.06 - LU0063729296 - -
Class D2 Hedged EUR None 12.90 -0.02 -0.15 13.30 12.82 - LU0969580132 - -
Class D6 USD Monthly 11.70 -0.02 -0.17 12.31 11.70 - LU0827875427 - -
Class A6 USD Monthly 11.11 -0.02 -0.18 11.72 11.11 - LU0764618053 - -
Class A2 Hedged EUR None 11.01 -0.02 -0.18 11.39 10.99 - LU1250980452 - -
Class A6 Hedged GBP Monthly 6.88 -0.01 -0.15 7.27 6.88 - LU1200839618 - -
Class A3 USD Monthly 12.77 -0.02 -0.16 13.35 12.77 - LU0172393414 - -
Class A6 Hedged EUR Monthly 9.19 -0.02 -0.22 9.76 9.19 - LU1200839535 - -
Class I4 Hedged GBP Annual 9.86 -0.01 -0.10 10.30 9.73 - LU1250978043 - -
Class I3 USD Monthly 11.08 -0.02 -0.18 11.58 11.08 - LU1456638573 - -
Class I2 USD None 13.57 -0.02 -0.15 13.92 13.34 - LU1111085012 - -
Class D2 USD None 15.29 -0.02 -0.13 15.69 15.05 - LU0776122383 - -
Class A3 Hedged EUR Monthly 8.89 -0.01 -0.11 9.34 8.89 - LU0841166456 - -

Portfolio Managers

Portfolio Managers

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

Literature

Literature