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

Performance chart data not available for display.
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Distributions

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

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 28.2 2.9 15.4 27.5 27.4 -17.2 22.8 6.0 2.6 -12.8
Constraint Benchmark 1 (%) 24.2 6.4 19.2 27.0 18.4 -11.1 12.8 1.6 -2.0 -2.5

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

  1y 3y 5y 10y Incept.
2.37 -1.17 0.61 5.67 8.78
Constraint Benchmark 1 (%) 7.86 0.58 0.76 6.22 8.10
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-1.23 -2.34 0.49 2.31 2.37 -3.48 3.07 73.55 154.40
Constraint Benchmark 1 (%) 0.93 -3.52 -1.93 0.60 7.86 1.75 3.87 82.85 137.19
  From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
From
30-Sep-2022
To
30-Sep-2023
Total Return (%)

as of 30.Sep.2023

-5.28 2.78 17.18 -18.95 2.32
Constraint Benchmark 1 (%)

as of 30.Sep.2023

-2.36 -0.37 9.41 -13.99 8.62

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 GBP 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 30.Nov.2023 JPY 22,978,590,717
Share Class launch date 27.Sep.2012
Fund Launch Date 13.May.1987
Share Class Currency GBP
Fund Base Currency JPY
Asset Class Equity
Constraint Benchmark 1 S&P Japan Mid Small Cap in GBP Performance Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.08%
ISIN LU0827883017
Annual Management Fee 0.75%
Performance Fee 0.00%
Minimum Initial Investment GBP 100,000.00
Minimum Subsequent Investment GBP 1,000.00
Use of Income Distributing
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 BJSMD4R
SEDOL B8KTH89

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31.Oct.2023 92
12 Month Trailing Dividend Distribution Yield as of 30.Nov.2023 0.96%
Standard Deviation (3y) as of 31.Oct.2023 11.40%
3y Beta as of 31.Oct.2023 0.986
P/E Ratio as of 31.Oct.2023 13.97
P/B Ratio as of 31.Oct.2023 1.04

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

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Japan Small & MidCap Opportunities Fund, Class D4, as of 30.Nov.2023 rated against 179 Japan Small/Mid-Cap Equity Funds.

Holdings

Holdings

as of 31.Oct.2023
Name Weight (%)
KINDEN CORPORATION 2.24
FUKUOKA FINANCIAL GROUP INC 2.21
KYUDENKO CORP 2.20
TOKYO TATEMONO CO. LTD. 2.19
CMK CORPORATION 2.16
Name Weight (%)
MITSUBISHI LOGISTICS CORPORATION 2.11
HOKUHOKU FINANCIAL GROUP INC 2.01
KYUSHU FINANCIAL GROUP INC 1.98
MARUWA CO LTD (AICHI) 1.97
77 BANK LTD/THE 1.91
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31.Oct.2023

% of Market Value

Type Fund Benchmark Net
as of 31.Oct.2023

% 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 D4 GBP 52.72 0.19 0.36 30.Nov.2023 54.14 49.63 LU0827883017
Class A2 Hedged EUR 60.59 0.31 0.51 30.Nov.2023 60.59 48.54 LU0255399742
Class A4 GBP 51.10 0.18 0.35 30.Nov.2023 52.41 47.94 LU0204063480
Class A2 Hedged USD 20.18 0.11 0.55 30.Nov.2023 20.18 15.94 LU0931342652
Class D2 Hedged EUR 65.87 0.34 0.52 30.Nov.2023 65.87 52.50 LU0827883280
Class D2 USD 73.07 -0.17 -0.23 30.Nov.2023 73.24 66.91 LU0827883108
Class D2 JPY 10,839.00 50.00 0.46 30.Nov.2023 10,839.00 8,844.00 LU0496417709
Class A2 JPY 9,613.00 44.00 0.46 30.Nov.2023 9,614.00 7,885.00 LU0249411835
Class A2 USD 64.80 -0.16 -0.25 30.Nov.2023 65.07 59.67 LU0006061252
Class I2 Hedged EUR 11.80 0.06 0.51 30.Nov.2023 11.80 9.38 LU1822774102
Class X2 JPY 11,909.00 55.00 0.46 30.Nov.2023 11,909.00 9,650.00 LU0249423681
Class D2 EUR 66.98 0.28 0.42 30.Nov.2023 68.36 62.25 LU0252965594
Class I2 EUR 13.55 0.06 0.44 30.Nov.2023 13.82 12.57 LU1822774011
Class A2 EUR 59.40 0.25 0.42 30.Nov.2023 60.72 55.50 LU0171289068
Class I2 JPY 2,193.00 11.00 0.50 30.Nov.2023 2,193.00 1,786.00 LU0992622497

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 GBP 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
7,700 GBP
-23.0%
3,660 GBP
-18.2%

Unfavourable

What you might get back after costs
Average return each year
7,700 GBP
-23.0%
7,690 GBP
-5.1%

Moderate

What you might get back after costs
Average return each year
10,080 GBP
0.8%
14,850 GBP
8.2%

Favourable

What you might get back after costs
Average return each year
13,070 GBP
30.7%
18,100 GBP
12.6%

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



Literature

Literature

 
Please access the document library in order to find the KID/KIID in local language.