Skip to content
Welcome to the BlackRock site for intermediaries
Before you proceed, please take a moment to review and accept the following Terms and Conditions.
By accessing this website, you, as a client or potential client, accept to receive information on this website in more than one language. Should you require help understanding the content on this website, please reach out to your financial or other professional advisor.
Financial Intermediaries
On this website, Financial Intermediaries are investors that qualify as both a Professional Client and a Qualified Investor.
In summary, a person who can both be classified as a professional client under the Markets in Financial Instruments Directive II (2014/65/EU, “MiFID”) and a qualified investor in accordance with the Prospectus Regulation (EU) 2017/1129) will generally need to meet one or more of the following requirements:
(1) An entity required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive:
(a) a credit institution;
(b) an investment firm;
(c) any other authorised or regulated financial institution;
(d) an insurance company;
(e) a collective investment scheme or the management company of such a scheme;
(f) a pension fund or the management company of a pension fund;
(g) a commodity or commodity derivatives dealer;
(h) a local;
(i) any other institutional investor;
(2) a large undertaking that meets two of the following tests: (i) a balance sheet total of EUR 20,000,000; (ii) an annual net turnover of EUR 40,000,000; (iii) own funds of EUR 2,000,000;
(3) a national or regional government, a public body that manages public debt, a central bank, an international or supranational institution (such as the World Bank, the IMF, the ECB, the EIB) or another similar international organization;
(4) a institutional investor whose main activity is to invest in financial instruments, including an entity dedicated to the securitisation of assets or other financing transactions;
(5) a natural person resident in an EEA State that permits the authorisation of natural persons as professional clients and qualified investors, who expressly asks to be treated as a professional client and a qualified investor and who meets at least two of the following criteria: (i) he/she has carried out transactions, in significant size, on securities markets at an average frequency of, at least, 10 per quarter over the previous four quarters before the application, (ii) the size of his/her financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500,000, (iii) he/she works or has worked for at least one year in the financial sector in a professional position which requires knowledge of securities investment.
Please note that the above summary is provided for information purposes only. If you are uncertain as to whether you can both be classified as a professional client under the Markets in Financial Instruments Directive and classed as a qualified investor under the Prospectus Regulation then you should seek independent advice.
Terms and conditions
Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which our funds are authorised for sale. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction.
Please note that you are required to read and accept the terms of our Privacy Policy before you are able to access our websites.
Once you have confirmed that you agree to the legal information in this document, and the Privacy Policy – by indicating your consent above – we will place a cookie on your computer to recognise you and prevent this page reappearing should you access this site, or other BlackRock sites, on future occasions. The cookie will expire after six months, or sooner should there be a material change to this important information.
By confirming that you have read this important information, you also:
(i) Agree that such information will apply to any subsequent access to the Individual investors (or Institutions / Intermediaries) section of this website by you, and that all such subsequent access will be subject to the disclaimers, risk warnings and other information set out herein; and
(ii) Warrant that no other person will access the Individual investors section of this website from the same computer and logon as you are currently using.
The offshore funds described in the following pages are administered and managed by companies within the BlackRock Group and can be marketed in certain jurisdictions only. It is your responsibility to be aware of the applicable laws and regulations of your country of residence. Further information is available in the Prospectus or other constitutional document for each fund.
This does not constitute an offer or solicitation to sell shares in any of the funds referred to on this site, by anyone in any jurisdiction in which such offer, solicitation or distribution would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.
Specifically, the funds described are not available for distribution to or investment by US investors. The units/shares will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and, except in a transaction which does not violate the Securities Act or any other applicable US securities laws (including without limitation any applicable law of any of the States of the USA) may not be directly or indirectly offered or sold in the USA or any of its territories or possessions or areas subject to its jurisdiction or to or for the benefit of a US Person.
The funds described have not been, nor will they be, qualified for distribution to the public in Canada as no prospectus for these funds has been filed with any securities commission or regulatory authority in Canada or any province or territory thereof. This website is not, and under no circumstances is to be construed, as an advertisement or any other step in furtherance of a public offering of shares in Canada. No person resident in Canada for the purposes of the Income Tax Act (Canada) may purchase or accept a transfer of shares in the funds described unless he or she is eligible to do so under applicable Canadian or provincial laws.
Applications to invest in any fund referred to on this site, must only be made on the basis of the offer document relating to the specific investment (e.g. prospectus, simplified prospectus, key investor information document or other applicable terms and conditions).
As a result of money laundering regulations, additional documentation for identification purposes may be required when you make your investment. Details are contained in the relevant Prospectus or other constitutional document.
If you are unsure about the meaning of any information provided please consult your financial or other professional adviser.
The information contained on this site is subject to copyright with all rights reserved. It must not be reproduced, copied or redistributed in whole or in part.
The information contained on this site is published in good faith but no representation or warranty, express or implied, is made by BlackRock (Netherlands) B.V. (“BNBV”) or by any person as to its accuracy or completeness and it should not be relied on as such. BNBV shall have no liability for any loss or damage arising out of the use or reliance on the information provided including without limitation, any loss of profit or any other damage, direct or consequential. No information on this site constitutes investment, tax, legal or any other advice.
Where a claim is brought against BlackRock by a third party in relation to your use of this website, you hereby agree to fully reimburse BlackRock for all losses, costs, actions, proceedings, claims, damages, expenses (including reasonable legal costs and expenses), or liabilities, whatsoever suffered or incurred directly by BlackRock as a consequence of improper use of this website. Neither party should be liable to the other for any loss or damage which may be suffered by the other party due to any cause beyond the first party's reasonable control including without limitation any power failure.
You acknowledge and agree that it is your responsibility to keep secure and confidential any passwords that we issue to you and your authorised employees and not to let such password(s) become public knowledge. If any password(s) become known by someone other than you and your authorised employees, you must change those particular password(s) immediately using the function available for this purpose on the Website.
You may leave the BNBV website when you access certain links on this website. In so doing, you may be proceeding to the site of an organisation that is not regulated. BNBV has not examined any of these websites and does not assume any responsibility for the contents of such websites nor the services, products or items offered through such websites.
BNBV shall have no liability for any data transmission errors such as data loss or damage or alteration of any kind, including, but not limited to, any direct, indirect or consequential damage, arising out of the use of the services provided herein.
Risk Warnings
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.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time.
BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. The data displayed provides summary information. Investment should be made on the basis of the relevant Prospectus which is available from the manager.
For your protection, telephone calls and/or other electronic communications which result in, or are intended to result in, transactions will be recorded or saved.
Investors should read the offering documents for further details including the risk factors before making an investment.
For investors in Sweden:
The prospectus and KIID are available at BNBV, Stockholm branch, Malmskillnadsgatan 38, 111 51 Stockholm, Sweden. Investors should read the KIID before making an investment decision.
Please note that while some of the BlackRock funds are "ring-fenced", others form part of a single company and are not. For BlackRock funds that do not have segregated liability status, in the event of a single BlackRock fund being unable to meet liabilities attributable to that BlackRock fund out of the assets attributable to it, the excess may be met out of the assets attributable to the other BlackRock funds within the same company. We refer you to the prospectus or other relevant terms and conditions of each BlackRock fund for further information in this regard.
The views expressed herein do not necessarily reflect the views of BlackRock as a whole or any part thereof, nor do they constitute investment or any other advice.
Any research found on these pages has been procured and may have been acted on by BlackRock for its own purposes.
This site is operated and issued by BlackRock BNBV which is authorised and regulated by the Autoriteit Financiële Markten («AFM»). You can gain access to the AFM website from the following link: www.afm.nl. BlackRock (Netherlands) B.V. is a company registered in the Netherlands, No. 17068311. Registered Office: Amstelplein 1, 1096 HA, Amsterdam. BlackRock is a trading name of BlackRock (Netherlands) B.V. VAT No 007883250. General enquiries about this website should be sent to EMEAwebmaster@blackrock.com. This email address should not be used for any enquiries relating to investments.
© 2021 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, iSHARES, BUILD ON BLACKROCK and SO WHAT DO I DO WITH MY MONEY are trademarks of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners.
MKTGH1120E/S-1423192
China and the world
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.
Historically, investors outside of China have struggled to access the country’s full range of investment opportunities. But this story is changing as policymakers seek to liberalize Chinese stock and bond markets to allow greater access to onshore Chinese investments.
Risk: Investments in China are subject to certain additional risks, particularly regarding the ability to deal in equity securities in China due to issues relating to liquidity and the repatriation of capital. As a result, the Fund may choose to gain exposure to Chinese equities indirectly and may be unable to gain full exposure to Chinese equity markets.
A Market Opportunity: China
2Bloomberg, December 2020
China continues to grow, now the world’s second-largest economy gaining fast to rival the United States. In the past investors outside of China have struggled to access the country’s full range of growth opportunities. Even now foreign ownership accounts for just 3% of Chinese assets1. But this is changing rapidly and the cost of ignoring this opportunity might prove too high, especially over the longer term.
1Source: PBoC, March 2020, includes publicly-listed Chinese equity securities denominated in RMB, incorporated in China and onshore bond issuance, including both government and corporate debt.
The role of China in your portfolio
For illustrative purposes only.
It can be tempting to see the prospect of ongoing tensions and the resulting increase in localised political pressure as a reason not to hold any Chinese exposure in portfolios. But from an investment perspective, BlackRock believe this could be a costly decision for investors. Despite near-term challenges it should be considered that China will continue to become an increasingly key engine of global growth, further, an allocation to China is a crucial opportunity for portfolio diversification particularly given Western economies are facing the potential of a larger state role in corporate activity. We believe a neutral starting allocation to Chinese assets should be significantly higher than where most international investors currently are
Risk: Diversification and asset allocation may not fully protect you from market risk.
Fixed income in China
Risk: Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.
Although various reforms, including the introduction of Bond Connect, have simplified access to the onshore Chinese bond markets, foreign investors remain only a small portion of the market. China’s bond market has the potential to offer higher yields than many developed market bonds while enabling diversification across the credit and duration spectrum.
Risk: BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. To ensure you understand whether our product is suitable, please read the relevant Key Investor Information Document and/or Prospectus.
Our full China Fixed Income range
China Bond Fund
A sub-fund of BlackRock Global Funds
For illustrative purposes only.
Source: Wind, September 2020
Policy Bank bonds: Wholly state owned by the central government and serving policy functions.
Local Government: Only provincial level administrative regions are permitted to issue.
The BGF China Bond Fund invests in onshore and offshore Chinese debt through a flexible asset allocation strategy leveraging top-down macroeconomic and bottom-up credit views. The Fund invests globally at least 70% of its total assets in fixed income securities issued or distributed either inside or outside of the People’s Republic of China (PRC) and denominated in Renminbi or other non Chinese domestic currencies.
CNYB - iShares China CNY Bond UCITS ETF
For illustrative purposes only.
Source: PBoC Wind, June 2020.
Risk: Diversification and asset allocation may not fully protect you from market risk.
iShares China CNY Bond UCITS ETF provides broad exposure to CNY denominated investment grade bonds of Chinese treasury and policy banks. The ETF can be used to provide direct exposure to the Chinese bond markets to help build a diversified, global fixed income portfolio.
Chinese equities
As access by foreign investors to the Shanghai and Shenzhen exchanges becomes more open, foreign investors see a broader range of ways to build a China equity allocation. China’s array of equity share classes, although often highlighted as a point of confusion, also provide a breadth of investment opportunities for foreign investors to capitalize on.
Risk: The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events.
Source: Bloomberg as at December 2020. For illustrative purposes only.
Risk: Diversification and asset allocation may not fully protect you from market risk.
Growing weight in global indices
Improving access through Hong Kong Stock Connect Program
Complementary exposures between offshore and onshore listings
Our full China Equity range
Risk: BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. To ensure you understand whether our product is suitable, please read the relevant Key Investor Information Document and/or Prospectus.
Broad China Exposure
- Diversified positioning across offshore and A-share markets
China Fund
A sub-fund of BlackRock Global Funds
Source: BlackRock, September 2020. Subject to change. For illustrative purposes only.
The BGF China Fund is an offshore China focused fundamental equity strategy with the flexibility to allocate up to 20% to onshore A-Shares. The fund invests at least 70% of its total assets in the shares of companies domiciled in, or the main business of which is in, the People’s Republic of China.
China Flexible Equity Fund
A sub-fund of BlackRock Global Funds
Benchmarked against the MSCI China All-Share Index providing flexible exposure between onshore and offshore markets
Source: MSCI, December 2020. Subject to change. For illustrative purposes only.
The BGF China Flexible Equity Fund has a flexible allocation between onshore and offshore Chinese equity markets focused on high conviction ideas. The Fund invests at least 70% of its total assets in the shares of companies domiciled in, or the main business of which is in, the People’s Republic of China.
ICHN - iShares MSCI China UCITS ETF
Source: BlackRock, September 2020. Subject to change. For illustrative purposes only.
iShares MSCI China UCITS ETF provides broad exposure to offshore & onshore stocks and covers approximately 85% of the Chinese stock market. The ETF can be used to provide direct exposure to the Chinese stock markets to build a diversified, global equity portfolio.
Domestic China A-share Exposure
- Local markets / Uncorrelated Alpha
Systematic China A-Share Opportunities Fund
Source: BlackRock, September 2020. Subject to change. For illustrative purposes only.
A sub-fund of BlackRock Global Funds
The BGF Systematic China A-Share Opportunities Fund invests only in onshore Chinese equity markets (known as “A Shares”). The Fund is a systematic equity strategy, leveraging big data and signals with the aim to generate alpha in addition to traditional insights and is benchmarked against the MSCI China A Onshore Index.
China A-Share Fund
A sub-fund of BlackRock Global Funds
Source: BlackRock, September 2020. Subject to change. For illustrative purposes only.
The BGF China A-Share Fund uses a Fundamental approach to invest and extract alpha from onshore Chinese equity markets (known as “A-Shares”). The Fund is benchmarked to the CSI 300 Index.
CNYA - iShares MSCI China A UCITS ETF
Source: BlackRock, September 2020. Subject to change. For illustrative purposes only.
iShares MSCI China A ETF aims to provide a market cap-weighted exposure of mainland traded Chinese A-Shares. The ETF provides exposure to the locally listed portion of the Chinese stock market and is designed to reflect the A-shares included in the MSCI EM Index. A-Shares make up around 60% of Chinese equities, but have historically been largely inaccessible to international investors.
Offshore China Exposure
FXC - iShares China Large- Cap UCITS ETF
Source: BlackRock, September 2020. Subject to change. For illustrative purposes only.
iShares China Large Cap UCITS ETF provides exposure to 50 of the largest offshore Chinese companies listed on the Hong Kong Stock Exchange. The ETF provides single country exposure and has high allocations to the Financials and Communication sectors.
Explore more
Products
Themes
Insights
ETFs & Indexing
© 2023 BlackRock, Inc. All rights reserved.
MKTGH0221E/S-1511776