Fixed Income

BGF China Bond Fund

Overview

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Performance

Performance

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Distributions

Ex-Date Distribution
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  1y 3y 5y 10y Incept.
5.98 -0.41 - - 0.90
3.92 -0.69 1.90 3.77 3.95
0.69 -2.10 - - -0.22
-1.28 -2.38 0.86 3.24 3.53
Benchmark (%) 1.50 1.50 - - 1.50
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
4.34 0.67 1.51 4.34 5.98 -1.23 - - 4.21
3.33 0.45 1.08 3.33 3.92 -2.07 9.89 44.75 63.24
-0.87 -4.37 -3.56 -0.87 0.69 -6.17 - - -1.00
-1.84 -4.57 -3.97 -1.84 -1.28 -6.96 4.40 37.51 55.08
Benchmark (%) 0.75 0.11 0.37 0.75 1.50 4.56 - - 7.07
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 NZD, hedged share class benchmark performance is displayed in CNH.

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 19-Jul-2024
RMB 19,097,792,497
Fund Inception
11-Nov-2011
Fund Base Currency
CNH
Benchmark
1Y China Household Savings Deposits Rate Index
Initial Charge
5.00%
Management Fee (incl. Distribution Fee, if any)
0.75%
Minimum Initial Investment
NZD 5000
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Other Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
BJN4WJ4
Share Class Inception Date
27-Nov-2019
Share Class Currency
NZD
Asset Class
Fixed Income
SFDR Classification
Other
ISIN
LU2077746340
Performance Fee
0.00%
Minimum Subsequent Investment
NZD 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
BGRA6NH LX
MAS ESG Fund
No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28-Jun-2024
436
3y Beta
as of -
-
Modified Duration
as of 28-Jun-2024
5.55
Weighted Avg Maturity
as of 28-Jun-2024
5.77
5Y Annualised Volatility
as of -
-
Standard Deviation (3y)
as of 30-Jun-2024
3.45%
Yield to Maturity
as of 28-Jun-2024
5.61
Effective Duration
as of 28-Jun-2024
4.31yrs
WAL to Worst
as of 28-Jun-2024
5.77
Since Share Inception – Annualised Volatility
as of 30-Jun-2024
3.31

Sustainability Characteristics

Sustainability Characteristics

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. 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 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
0.11%
MSCI - Thermal Coal
as of 28-Jun-2024
0.23%
MSCI - Oil Sands
as of 28-Jun-2024
0.00%

Business Involvement Coverage
as of 28-Jun-2024
50.06%
Percentage of Fund not covered
as of 28-Jun-2024
49.61%
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 1.32% and for Oil Sands 1.09%.

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

Holdings

Holdings

as of 28-Jun-2024
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 3 10/15/2053 3.27
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.52 08/25/2033 3.22
AGRICULTURAL DEVELOPMENT BANK OF C 2.96 04/17/2030 1.75
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.8 11/15/2032 1.64
AGRICULTURAL DEVELOPMENT BANK OF C 3.01 03/16/2030 1.37
Name Weight (%)
CHINA DEVELOPMENT BANK 3.09 06/18/2030 1.10
BANK OF CHINA LTD 2.62 04/08/2034 1.07
DBS BANK CHINA LTD RegS 4.7 03/24/2031 1.04
ISHARES USD ASIA HY BOND ETF 0.95
CHINA DEVELOPMENT BANK 3.49 11/08/2041 0.91

Exposure Breakdowns

Exposure Breakdowns

as of 28-Jun-2024

% of Weight

Type Fund
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
as of 28-Jun-2024

% of Weight

Type Fund
as of 28-Jun-2024

% of Weight

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.
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
A6 Hedged NZD 8.16 0.00 0.00 19-Jul-2024 8.16 7.87 LU2077746340
D2 Hedged SGD 10.50 0.00 0.00 19-Jul-2024 10.50 9.87 LU2631410243
A2 Hedged SGD 10.46 0.00 0.00 19-Jul-2024 10.46 9.86 LU2631410169
A2 CHF 12.70 0.05 0.40 19-Jul-2024 13.04 11.80 LU0969580058
A2 Hedged USD 10.60 0.00 0.00 19-Jul-2024 10.60 9.86 LU2070343392
D2 EUR 13.32 0.02 0.15 19-Jul-2024 13.56 12.43 LU2290526164
A6 Hedged AUD 7.98 0.00 0.00 19-Jul-2024 8.01 7.77 LU1852331039
A6 Hedged CAD 8.08 0.00 0.00 19-Jul-2024 8.09 7.83 LU2077746696
D2 CNH 105.54 -0.01 -0.01 19-Jul-2024 105.57 99.50 LU0827885731
A2 EUR 13.13 0.02 0.15 19-Jul-2024 13.37 12.30 LU2267099674
A6 Hedged GBP 8.00 0.00 0.00 19-Jul-2024 8.00 7.74 LU2077746779
A6 Hedged EUR 7.43 0.00 0.00 19-Jul-2024 7.49 7.25 LU1847653224
D4 Hedged GBP 8.86 0.00 0.00 19-Jul-2024 8.86 8.24 LU2112292177
D2 Hedged USD 10.51 0.00 0.00 19-Jul-2024 10.51 9.76 LU2112292250
A3 HKD 69.45 -0.12 -0.17 19-Jul-2024 70.55 67.06 LU0690034276
D2 Hedged EUR 9.81 0.00 0.00 19-Jul-2024 9.81 9.21 LU2112292417
A3 CNH 64.78 0.00 0.00 19-Jul-2024 64.88 62.87 LU0679941160
D2 USD 14.49 -0.02 -0.14 19-Jul-2024 14.51 13.58 LU0719319435
A3 USD 8.89 -0.02 -0.22 19-Jul-2024 9.03 8.57 LU0679941673
A2 CNH 104.03 -0.02 -0.02 19-Jul-2024 104.06 98.33 LU0679940949
D3 USD 8.93 -0.02 -0.22 19-Jul-2024 9.07 8.61 LU0683067952
A6 Hedged SGD 8.11 -0.01 -0.12 19-Jul-2024 8.18 7.93 LU1847653497
D6 CNH 84.22 -0.01 -0.01 19-Jul-2024 84.95 82.30 LU2243823916
A6 Hedged HKD 79.91 -0.01 -0.01 19-Jul-2024 80.07 77.69 LU1963769176
A2 Hedged JPY 891.00 0.00 0.00 19-Jul-2024 892.00 865.00 LU2367605297
A6 CNH 86.78 -0.01 -0.01 19-Jul-2024 87.78 85.00 LU1852330734
D6 Hedged SGD 8.36 0.00 0.00 19-Jul-2024 8.40 8.14 LU2325727282
A6 Hedged USD 8.37 0.00 0.00 19-Jul-2024 8.37 8.07 LU1847653141
A8 Hedged USD 10.10 0.00 0.00 19-Jul-2024 10.15 9.83 LU2550100692
A8 Hedged HKD 100.73 -0.01 -0.01 19-Jul-2024 101.18 98.16 LU2550100429
D6 Hedged USD 8.33 0.00 0.00 19-Jul-2024 8.33 8.01 LU2243824054
A3 SGD 11.96 0.01 0.08 19-Jul-2024 12.15 11.67 LU2298379152
A2 USD 14.28 -0.03 -0.21 19-Jul-2024 14.31 13.42 LU0679941327

Portfolio Managers

Portfolio Managers

Yii Hui Wong
Yii Hui Wong
Suanjin Tan
Suanjin Tan
Yingbo Xu
Yingbo Xu

Documents

Documents