Fixed Income

BGF Asian Tiger Bond Fund

Overview

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Performance

Performance

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  1y 3y 5y 10y Incept.
7.31 -4.91 -1.37 1.39 4.98
1.95 -6.52 -2.38 0.87 4.79
Benchmark (%) 6.92 -1.48 0.92 2.82 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
3.62 1.25 1.17 3.62 7.31 -14.01 -6.67 14.78 297.70
-1.56 -3.81 -3.89 -1.56 1.95 -18.31 -11.33 9.04 277.81
Benchmark (%) 2.81 1.23 1.37 2.81 6.92 -4.37 4.67 32.12 -
Performance of the Fund is calculated on NAV to NAV basis on the assumption that all dividends and distributions are reinvested, taking into account all charges which would have been payable upon such reinvestment.

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 USD.

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

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

Key Facts

Key Facts

Net Assets of Fund
as of 18-Jul-2024
USD 2,188,839,460
Fund Inception
02-Feb-1996
Fund Base Currency
USD
Benchmark
JP Morgan Asia Credit Index
Initial Charge
5.00%
Management Fee (incl. Distribution Fee, if any)
1.00%
Minimum Initial Investment
USD 5000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Asia Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
5015775
Share Class Inception Date
02-Feb-1996
Share Class Currency
USD
Asset Class
Fixed Income
SFDR Classification
Other
ISIN
LU0063729296
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
MERATAA
MAS ESG Fund
No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28-Jun-2024
412
3y Beta
as of 30-Jun-2024
1.118
Modified Duration
as of 28-Jun-2024
4.69
Weighted Avg Maturity
as of 28-Jun-2024
5.13
5Y Annualised Volatility
as of 30-Jun-2024
7.44
Standard Deviation (3y)
as of 30-Jun-2024
7.64%
Yield to Maturity
as of 28-Jun-2024
6.48
Effective Duration
as of 28-Jun-2024
4.53yrs
WAL to Worst
as of 28-Jun-2024
5.13
Since Share Inception – Annualised Volatility
as of 30-Jun-2024
7.16

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.

The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics 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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of 21-Jun-2024
BBB
MSCI ESG Quality Score (0-10)
as of 21-Jun-2024
5.11
Fund Lipper Global Classification
as of 21-Jun-2024
Bond Asia Pacific HC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Jun-2024
593.26
MSCI ESG % Coverage
as of 21-Jun-2024
81.24
MSCI ESG Quality Score - Peer Percentile
as of 21-Jun-2024
37.58
Funds in Peer Group
as of 21-Jun-2024
149
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Jun-2024
77.09
All data is from MSCI ESG Fund Ratings as of 21-Jun-2024, based on holdings as of 31-Jan-2024. 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% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage 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.

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 28-Jun-2024
0.00%
MSCI - Nuclear Weapons
as of 28-Jun-2024
0.00%
MSCI - Civilian Firearms
as of 28-Jun-2024
0.00%
MSCI - Tobacco
as of 28-Jun-2024
0.00%
MSCI - UN Global Compact Violators
as of 28-Jun-2024
0.00%
MSCI - Thermal Coal
as of 28-Jun-2024
0.00%
MSCI - Oil Sands
as of 28-Jun-2024
0.34%

Business Involvement Coverage
as of 28-Jun-2024
59.96%
Percentage of Fund not covered
as of 28-Jun-2024
40.05%
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 1.87% and for Oil Sands 1.67%.

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 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 during the investment process. In the initial idea generation and credit research process this may include an assessment of each company's positive ESG attributes or material risks or 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 generally highlighted in credit research reports and may influence investment decisions and security selection by portfolio managers. From a top-down perspective, ESG aggregate portfolio metrics are available for the Fund manager to review through BlackRock's Aladdin system. The Fund manager also considers environmental, social and governance criteria during post-investment 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, where appropriate.

Ratings

Ratings

Morningstar Rating

3 stars
As of 30-Jun-2024

Holdings

Holdings

as of 28-Jun-2024
Name Weight (%)
HDFC BANK LTD 7.69 01/27/2033 1.30
INDONESIA (REPUBLIC OF) RegS 6.625 02/17/2037 1.28
MINOR INTERNATIONAL PCL RegS 2.7 12/31/2079 1.15
CNAC HK FINBRIDGE CO LTD RegS 3 09/22/2030 1.10
STUDIO CITY CO LTD RegS 7 02/15/2027 1.00
Name Weight (%)
MINEJESA CAPITAL BV RegS 4.625 08/10/2030 0.94
CDBL FUNDING 1 MTN RegS 3.5 10/24/2027 0.91
STANDARD CHARTERED PLC RegS 6.301 01/09/2029 0.88
MELCO RESORTS FINANCE LTD RegS 4.875 06/06/2025 0.79
CLIFFTON LTD RegS 6.25 10/25/2025 0.78

Exposure Breakdowns

Exposure Breakdowns

as of 28-Jun-2024

% of Weight

Type Fund Benchmark Net
as of 28-Jun-2024

% of Weight

Type Fund Benchmark Net
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 28-Jun-2024

% of Weight

Type Fund Benchmark Net
as of 28-Jun-2024

% of Weight

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.
Due to rounding, the total may not be equal to 100%

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A2 USD 40.24 -0.01 -0.02 18-Jul-2024 40.28 35.63 LU0063729296
A6 Hedged CNH 101.04 -0.04 -0.04 18-Jul-2024 101.35 95.18 LU2644453024
A8 Hedged CAD 7.81 0.00 0.00 18-Jul-2024 7.81 7.21 LU1200839881
A6 Hedged EUR 6.47 0.00 0.00 18-Jul-2024 6.47 6.06 LU1200839535
D3 Hedged SGD 7.41 0.00 0.00 18-Jul-2024 7.42 6.91 LU2250419038
A8 Hedged AUD 8.05 0.00 0.00 18-Jul-2024 8.06 7.44 LU0871639620
D4 Hedged GBP 7.63 0.00 0.00 18-Jul-2024 7.63 6.75 LU1250979793
A3 Hedged NZD 8.77 -0.01 -0.11 18-Jul-2024 8.78 8.08 LU0803752632
A2 Hedged HKD 83.86 -0.02 -0.02 18-Jul-2024 83.95 74.85 LU2290525943
A6 Hedged SGD 6.59 0.00 0.00 18-Jul-2024 6.59 6.17 LU1149717156
A2 Hedged EUR 9.13 0.00 0.00 18-Jul-2024 9.14 8.19 LU1250980452
A2 Hedged SGD 12.56 0.00 0.00 18-Jul-2024 12.57 11.27 LU0540000063
D2 Hedged SGD 12.40 0.00 0.00 18-Jul-2024 12.41 11.09 LU0969580215
A1 USD 10.00 0.00 0.00 18-Jul-2024 10.01 9.19 LU0063728728
A8 Hedged CNH 70.26 -0.03 -0.04 18-Jul-2024 70.33 65.01 LU1257007309
A3 Hedged AUD 8.09 0.00 0.00 18-Jul-2024 8.10 7.51 LU0841155764
A6 Hedged GBP 5.04 0.00 0.00 18-Jul-2024 5.05 4.68 LU1200839618
A8 Hedged NZD 8.54 0.00 0.00 18-Jul-2024 8.54 7.88 LU1200839709
D2 USD 13.70 -0.01 -0.07 18-Jul-2024 13.72 12.09 LU0776122383
D2 Hedged EUR 10.85 0.00 0.00 18-Jul-2024 10.86 9.70 LU0969580132
A3 Hedged SGD 7.54 0.00 0.00 18-Jul-2024 7.55 7.03 LU0830182670
A6 Hedged HKD 60.68 -0.02 -0.03 18-Jul-2024 60.74 56.54 LU0784395997
A3 Hedged HKD 8.39 0.00 0.00 18-Jul-2024 8.40 7.77 LU0496654236
D6 USD 8.94 0.00 0.00 18-Jul-2024 8.94 8.23 LU0827875427
A6 USD 8.35 -0.01 -0.12 18-Jul-2024 8.36 7.72 LU0764618053
A3 USD 10.04 0.00 0.00 18-Jul-2024 10.04 9.22 LU0172393414
A8 Hedged ZAR 77.17 0.01 0.01 18-Jul-2024 77.22 71.24 LU1023054775
D3 USD 10.05 0.00 0.00 18-Jul-2024 10.05 9.23 LU0827875344
D3 Hedged HKD 8.40 0.00 0.00 18-Jul-2024 8.41 7.78 LU0827875690
A3 Hedged EUR 6.56 0.00 0.00 18-Jul-2024 6.56 6.10 LU0841166456

Portfolio Managers

Portfolio Managers

Neeraj Seth
Neeraj Seth
Stephen Gough
Stephen Gough
Venn Saltirov
Venn Saltirov
Yii Hui Wong
Yii Hui Wong

Documents

Documents