Equity

BGF Japan Small & MidCap Opportunities Fund

Overview

Important Information: 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.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

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Reinvestments

This product does not have any distributions data as of now.

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -5.2 7.7 3.3 37.4 -23.7 24.8 7.0 0.4 -23.7 9.9
Constraint Benchmark 1 (%) 0.5 13.0 6.9 30.1 -15.9 17.9 5.3 -2.5 -12.9 14.2

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

  1y 3y 5y 10y Incept.
7.10 -5.14 1.07 2.48 2.65
Constraint Benchmark 1 (%) 10.76 -0.71 2.91 5.04 5.90
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.00 1.00 13.36 7.01 7.10 -14.65 5.49 27.74 75.74
Constraint Benchmark 1 (%) 1.02 1.02 12.71 4.45 10.76 -2.11 15.42 63.45 244.63
  From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
From
31-Dec-2022
To
31-Dec-2023
Total Return (%)

as of 31-Dec-23

24.79 6.99 0.44 -23.68 9.95
Constraint Benchmark 1 (%)

as of 31-Dec-23

17.94 5.28 -2.49 -12.91 14.17

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in USD, hedged share class benchmark performance is displayed in JPY.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund as of 21-Feb-24 JPY 23,870,669,037
Inception Date 01-Jul-02
Fund Launch Date 13-May-87
Share Class Currency USD
Base Currency JPY
Asset Class Equity
Constraint Benchmark 1 S&P Japan MidSmallCap Index - in USD
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charges Figures 3.08%
ISIN LU0147408305
Annual Management Fee 2.75%
Performance Fee 0.00%
Minimum Initial Investment USD 5,000.00
Minimum Subsequent Investment USD 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Japan Small/Mid-Cap Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MLAPOCA
SEDOL 7507504

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Jan-24 89
Standard Deviation (3y) as of 31-Jan-24 13.91%
3y Beta as of 31-Jan-24 0.939
P/E Ratio as of 31-Jan-24 17.07
P/B Ratio as of 31-Jan-24 1.21

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 in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Risk Indicator

Risk Indicator

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

Ratings

Holdings

Holdings

as of 31-Jan-24
Name Weight (%)
KYUDENKO CORP 2.35
TOKYO TATEMONO CO. LTD. 2.29
CHUGOKU MARINE PAINTS LTD 2.17
KINDEN CORPORATION 2.04
DAI-DAN CO LTD 2.00
Name Weight (%)
KYUSHU FINANCIAL GROUP INC 1.93
FUKUOKA FINANCIAL GROUP INC 1.86
EBARA CORPORATION 1.84
KAJIMA CORPORATION 1.83
KONOIKE TRANSPORT CO LTD 1.65
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Jan-24

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-24

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class C2 USD 50.52 -0.20 -0.39 21-Feb-24 50.74 43.81 LU0147408305
Class A2 JPY 10,379.00 -20.00 -0.19 21-Feb-24 10,419.00 7,885.00 LU0249411835
Class X2 JPY 12,908.00 -25.00 -0.19 21-Feb-24 12,957.00 9,650.00 LU0249423681
Class A2 EUR 63.94 -0.16 -0.25 21-Feb-24 64.50 55.50 LU0171289068
Class A2 Hedged EUR 65.94 -0.12 -0.18 21-Feb-24 66.17 48.54 LU0255399742
Class A2 Hedged USD 22.04 -0.04 -0.18 21-Feb-24 22.12 15.94 LU0931342652
Class C2 JPY 7,584.00 -15.00 -0.20 21-Feb-24 7,614.00 5,829.00 LU0249422360
Class I2 JPY 2,373.00 -4.00 -0.17 21-Feb-24 2,382.00 1,786.00 LU0992622497
Class A4 GBP 54.54 -0.09 -0.16 21-Feb-24 54.90 47.94 LU0204063480
Class E2 USD 61.00 -0.24 -0.39 21-Feb-24 61.26 52.74 LU0090841692
Class E2 EUR 56.41 -0.15 -0.27 21-Feb-24 56.90 49.19 LU0171289225
Class D2 JPY 11,722.00 -23.00 -0.20 21-Feb-24 11,767.00 8,844.00 LU0496417709
Class D2 USD 78.09 -0.31 -0.40 21-Feb-24 78.42 66.91 LU0827883108
Class E2 JPY 9,157.00 -18.00 -0.20 21-Feb-24 9,192.00 6,989.00 LU0249422956
Class A2 USD 69.14 -0.27 -0.39 21-Feb-24 69.43 59.67 LU0006061252
Class I2 Hedged EUR 12.87 -0.02 -0.16 21-Feb-24 12.91 9.38 LU1822774102
Class D2 EUR 72.22 -0.18 -0.25 21-Feb-24 72.84 62.25 LU0252965594
Class A10 Hedged USD 10.52 -0.02 -0.19 21-Feb-24 10.56 9.99 LU2728923348
Class I2 EUR 14.62 -0.03 -0.20 21-Feb-24 14.74 12.57 LU1822774011
Class D4 GBP 56.36 -0.10 -0.18 21-Feb-24 56.73 49.63 LU0827883017
Class A10 Hedged HKD 105.08 -0.19 -0.18 21-Feb-24 105.45 99.80 LU2728923264
Class D2 Hedged EUR 71.80 -0.13 -0.18 21-Feb-24 72.05 52.50 LU0827883280

Portfolio Managers

Portfolio Managers

Hiroki Takayama
Hiroki Takayama

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 5 years
Example Investment USD 10,000
Scenario
If you exit after 1 year
If you exit after 5 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
6,560 USD
-34.4%
3,830 USD
-17.5%

Unfavourable

What you might get back after costs
Average return each year
6,560 USD
-34.4%
7,470 USD
-5.7%

Moderate

What you might get back after costs
Average return each year
10,450 USD
4.5%
11,890 USD
3.5%

Favourable

What you might get back after costs
Average return each year
14,030 USD
40.3%
15,940 USD
9.8%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature