Key Facts

Key Facts

Size of Fund (Millions) as of 26-Oct-21 RMB 54,839.354
12m Trailing Yield as of 30-Sep-21 3.50
Number of Holdings as of 30-Sep-21 731
Base Currency China OffShore Renminbi
Fund Launch Date 11-Nov-11
Inception Date 13-Mar-13
Asset Class Fixed Income
Morningstar Category China Bond
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 0.98%
ISIN LU0679941160
Bloomberg Ticker BGRBA3C
Annual Management Fee 0.75%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B6TT689
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment RMB 5,000.00
Minimum Subsequent Investment RMB 1,000.00
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Weighted Average YTM as of 30-Sep-21 6.01%
Modified Duration as of 30-Sep-21 3.64
Effective Duration as of 30-Sep-21 2.53
Weighted Avg Maturity as of 30-Sep-21 4.04
3y Volatility - Benchmark as of 30-Sep-19 1.00
3y Beta as of 30-Sep-21 -5.774
5y Volatility - Benchmark as of 30-Sep-19 2.25
5y Beta as of 30-Sep-21 0.974
WAL to Worst as of 30-Sep-21 4.04

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 30-Sep-21 0.00%
MSCI - UN Global Compact Violators as of 30-Sep-21 0.00%
MSCI - Nuclear Weapons as of 30-Sep-21 0.00%
MSCI - Thermal Coal as of 30-Sep-21 0.54%
MSCI - Civilian Firearms as of 30-Sep-21 0.00%
MSCI - Oil Sands as of 30-Sep-21 0.00%
MSCI - Tobacco as of 30-Sep-21 0.00%

Business Involvement Coverage as of 30-Sep-21 52.58%
Percentage of Fund not covered as of 30-Sep-21 47.51%
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 1.01% and for Oil Sands 0.05%.

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

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

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for BGF China Bond Fund, Class A3, as of 30-Sep-21 rated against 106 China Bond Funds.

Holdings

Holdings

as of 30-Sep-21
Name Weight (%)
CHINA NATIONAL PETROLEUM CORP MTN 2.99 03/23/2025 2.13
CHINA CONSTRUCTION BANK CORP RegS 3.45 08/10/2031 1.67
INDUSTRIAL AND COMMERCIAL BANK OF 4.15 11/16/2030 1.65
CHINA DEVELOPMENT BANK 3.65 05/21/2029 1.63
INDUSTRIAL AND COMMERCIAL BANK OF 4.15 01/21/2031 1.61
Name Weight (%)
CHINA DEVELOPMENT BANK 3.48 01/08/2029 1.54
CHINA DEVELOPMENT BANK 3.45 09/20/2029 0.86
CHINA PETROLEUM & CHEMICAL CORP MTN 2.2 05/28/2023 0.81
BANK OF CHINA LTD RegS 4.15 03/19/2031 0.81
CHINA DEVELOPMENT BANK 3.07 03/10/2030 0.80
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-21

% of Market Value

Type Fund
as of 30-Sep-21

% of Market Value

Type Fund
as of 30-Sep-21

% of Market Value

Type Fund
Allocations subject to change.
as of 30-Sep-21

% of Market Value

Type Fund
as of 30-Sep-21

% of Market Value

Type Fund
as of 30-Sep-21

% of Market Value

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.

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class A3 CNH Monthly 71.55 -0.04 -0.06 74.75 71.12 - LU0679941160 - -
Class D6 Hedged SGD Monthly 9.57 0.00 0.00 10.05 9.52 - LU2325727282 - -
Class A6 Hedged NZD Monthly 9.23 -0.01 -0.11 10.02 9.19 - LU2077746340 - -
Class SR3 USD Monthly 9.99 0.00 0.00 10.35 9.84 - LU2319961921 - -
Class X2 Hedged USD - 10.47 -0.01 -0.10 10.85 10.42 - LU2092937064 - -
Class A6 Hedged CAD Monthly 9.24 -0.01 -0.11 10.03 9.20 - LU2077746696 - -
Class I3 USD Monthly 10.88 -0.01 -0.09 11.28 10.66 - LU1648248299 - -
Class I2 EUR - 17.71 0.00 0.00 17.77 16.39 - LU2011139461 - -
Class D2 EUR None 14.08 0.00 0.00 14.13 13.37 - LU2290526164 - -
Class A6 Hedged EUR Monthly 8.86 -0.01 -0.11 9.68 8.82 - LU1847653224 - -
Class A2 EUR None 14.01 0.00 0.00 14.06 13.10 - LU2267099674 - -
Class E8 Hedged EUR Monthly 9.47 0.00 0.00 10.07 9.42 - LU2252214130 - -
Class D2 CNH None 104.28 -0.07 -0.07 107.47 103.34 - LU0827885731 - -
Class A6 Hedged GBP Monthly 9.18 -0.01 -0.11 9.97 9.14 - LU2077746779 - -
Class I6 CNH Monthly 100.22 -0.07 -0.07 105.73 99.61 - LU1940842344 - -
Class I6 Hedged SGD Monthly 9.58 0.00 0.00 10.05 9.53 - LU2325727365 - -
Class A6 Hedged AUD Monthly 9.29 -0.01 -0.11 10.10 9.25 - LU1852331039 - -
Class D6 Hedged USD Monthly 9.33 -0.01 -0.11 10.09 9.29 - LU2243824054 - -
Class A6 Hedged USD Monthly 9.46 -0.01 -0.11 10.26 9.41 - LU1847653141 - -
Class A2 CHF None 14.96 0.01 0.07 15.31 13.97 - LU0969580058 - -
Class A2 Hedged USD None 10.34 -0.01 -0.10 10.76 10.29 - LU2070343392 - -
Class SR2 Hedged USD - 9.79 -0.01 -0.10 10.14 9.74 - LU2319962069 - -
Class D4 Hedged GBP Annual 9.45 -0.01 -0.11 10.21 9.40 - LU2112292177 - -
Class E5 EUR Quarterly 10.82 -0.01 -0.09 10.96 10.40 - LU2038736380 - -
Class A6 Hedged SGD Monthly 9.41 -0.01 -0.11 10.21 9.37 - LU1847653497 - -
Class AI2 Hedged EUR - 10.30 -0.01 -0.10 10.79 10.26 - LU2131808789 - -
Class I2 Hedged EUR - 10.00 -0.01 -0.10 10.43 9.95 - LU2112292094 - -
Class SR4 Hedged GBP Annual 9.63 -0.01 -0.10 10.13 9.58 - LU2319961848 - -
Class E5 Hedged EUR Quarterly 9.34 -0.01 -0.11 10.08 9.30 - LU2038736463 - -
Class I5 Hedged EUR Quarterly 9.44 -0.01 -0.11 10.00 9.39 - LU2298320776 - -
Class SR2 CNH - 99.37 -0.06 -0.06 102.41 98.76 - LU2319961681 - -
Class D2 Hedged USD None 10.17 -0.01 -0.10 10.55 10.12 - LU2112292250 - -
Class A3 HKD Monthly 87.20 0.01 0.01 90.18 85.11 - LU0690034276 - -
Class SR2 Hedged EUR - 9.74 -0.01 -0.10 10.11 9.70 - LU2319961764 - -
Class I2 Hedged USD - 10.20 0.00 0.00 10.57 10.14 - LU2112291955 - -
Class I4 Hedged GBP Annual 9.45 -0.01 -0.11 10.22 9.41 - LU2112291872 - -
Class D2 Hedged EUR None 9.98 -0.01 -0.10 10.42 9.93 - LU2112292417 - -
Class A2 USD None 16.27 0.00 0.00 16.64 15.39 - LU0679941327 - -
Class A2 CNH None 103.78 -0.07 -0.07 107.01 103.16 - LU0679940949 - -
Class I2 USD None 20.56 -0.01 -0.05 21.02 19.36 - LU1588882974 - -
Class A3 USD Monthly 11.21 -0.01 -0.09 11.62 10.98 - LU0679941673 - -
Class C2 USD None 14.38 0.00 0.00 14.76 13.77 - LU0683062482 - -
Class E2 EUR None 17.28 0.00 0.00 17.36 16.15 - LU0764816798 - -
Class I6 USD Hedged USD Monthly 9.84 -0.01 -0.10 10.61 9.79 - LU2134542930 - -
Class SR6 Hedged USD - 9.96 -0.01 -0.10 10.01 9.91 - LU2391915761 - -
Class D3 USD Monthly 11.27 0.00 0.00 11.67 11.03 - LU0683067952 - -
Class D2 USD None 16.35 0.00 0.00 16.72 15.41 - LU0719319435 - -
Class A3 SGD Monthly 15.10 -0.01 -0.07 15.63 14.90 - LU2298379152 - -
Class D6 CNH Monthly 96.13 -0.06 -0.06 101.31 95.54 - LU2243823916 - -
Class AI2 EUR - 11.18 -0.01 -0.09 11.23 10.40 - LU2131808516 - -
Class A6 CNH Monthly 100.18 -0.07 -0.07 106.21 99.59 - LU1852330734 - -
Class SR6 Hedged EUR - 9.96 -0.01 -0.10 10.01 9.91 - LU2391915506 - -
Class A6 Hedged HKD Monthly 92.82 -0.08 -0.09 100.78 92.36 - LU1963769176 - -
Class X2 USD - 12.92 -0.01 -0.08 13.21 12.12 - LU1733225855 - -
Class A2 Hedged JPY - 970.00 -1.00 -0.10 1,007.00 965.00 - LU2367605297 - -
Class SR6 Hedged SGD - 9.96 -0.01 -0.10 10.01 9.91 - LU2391915415 - -
Class E2 Hedged EUR None 10.52 -0.01 -0.09 11.06 10.47 - LU0803752129 - -
Class SR2 USD - 15.57 -0.01 -0.06 15.61 15.34 - LU2391915928 - -
Class SR6 Hedged HKD - 99.63 -0.08 -0.08 100.09 99.12 - LU2391915332 - -
Class SR6 CNH - 99.80 -0.06 -0.06 100.11 99.19 - LU2391915688 - -

Portfolio Managers

Portfolio Managers

Artur Piasecki
Artur Piasecki
Eric Liu
Eric Liu
Suanjin Tan
Suanjin Tan
Yii Hui Wong
Yii Hui Wong

Literature

Literature