Fixed Income

BGF Asian High Yield Bond 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

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This chart shows the fund's performance as the percentage loss or gain per year over the last 2 years.

  2019 2020 2021 2022 2023
Total Return (%) -20.8 -4.0
Constraint Benchmark 1 (%) -13.3 -0.5

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

  1y 3y 5y 10y Incept.
8.85 -11.77 - - -10.95
Constraint Benchmark 1 (%) 9.00 -4.89 - - -4.18
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
9.89 1.32 3.30 9.89 8.85 -31.31 - - -31.10
Constraint Benchmark 1 (%) 8.32 1.24 3.25 8.32 9.00 -13.98 - - -12.82
  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of 30/Jun/2024

- - -35.99 -1.40 8.85
Constraint Benchmark 1 (%)

as of 30/Jun/2024

- - -27.85 9.39 9.00

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 EUR, 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

Key Facts

Key Facts

Net Assets of Fund
as of 16/Jul/2024
USD 1,437,175,582
Fund Launch Date
01/Dec/2017
Fund Base Currency
USD
Constraint Benchmark 1
iBoxx ChinaBond Asian High Yield USD Hedged Index
Initial Charge
0.00%
ISIN
LU2327297755
Performance Fee
0.00%
Minimum Subsequent Investment
EUR 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGAHBIE
Share Class launch date
14/Apr/2021
Share Class Currency
EUR
Asset Class
Fixed Income
SFDR Classification
Other
Ongoing Charges Figures
0.55%
Annual Management Fee
0.50%
Minimum Initial Investment
EUR 10,000,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BKSCMQ7

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28/Jun/2024
312
3y Beta
as of 30/Jun/2024
0.862
Modified Duration
as of 28/Jun/2024
2.76
Effective Duration
as of 28/Jun/2024
2.42
WAL to Worst
as of 28/Jun/2024
3.80
Standard Deviation (3y)
as of 30/Jun/2024
16.27%
Yield to Maturity
as of 28/Jun/2024
8.71
Weighted Average YTM
as of 28/Jun/2024
8.93%
Weighted Avg Maturity
as of 28/Jun/2024
3.80

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.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 28/Jun/2024
Name Weight (%)
VEDANTA RESOURCES FINANCE II PLC RegS 13.875 12/09/2028 1.90
HUARONG FINANCE 2017 CO LTD MTN RegS 3.8 11/07/2025 1.27
CLIFFTON LTD RegS 6.25 10/25/2025 1.20
CA MAGNUM HOLDINGS RegS 5.375 10/31/2026 1.17
WYNN MACAU LTD 144A 4.5 03/07/2029 1.14
Name Weight (%)
PAKISTAN (ISLAMIC REPUBLIC OF) RegS 6.875 12/05/2027 1.13
STRAITS TRADING COMPANY LTD RegS 3.25 02/13/2028 1.13
STUDIO CITY FINANCE LTD RegS 5 01/15/2029 1.08
FORTUNE STAR BVI LTD RegS 3.95 10/02/2026 1.04
JP MORGAN STRUCTURED PRODUCTS BV MTN RegS 10 05/21/2026 1.04
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% 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 I2 Hedged EUR 6.96 0.00 0.00 16/Jul/2024 6.96 5.83 LU2327297755
Class A2 Hedged SGD 8.71 0.01 0.11 16/Jul/2024 8.71 7.33 LU1564328810
Class A8 Hedged GBP 5.48 0.00 0.00 16/Jul/2024 5.48 4.88 LU2125116330
Class A8 Hedged SGD 5.96 0.01 0.17 16/Jul/2024 5.96 5.38 LU2127175417
Class D6 USD 5.35 0.01 0.19 16/Jul/2024 5.35 4.76 LU1564328497
Class D2 Hedged GBP 7.71 0.01 0.13 16/Jul/2024 7.71 6.40 LU2381872907
Class D3 Hedged EUR 5.34 0.01 0.19 16/Jul/2024 5.34 4.76 LU2344714063
Class A6 USD 5.02 0.00 0.00 16/Jul/2024 5.02 4.48 LU1564328141
Class A2 USD 8.85 0.01 0.11 16/Jul/2024 8.85 7.35 LU1564328067
Class A5 USD 6.31 0.01 0.16 16/Jul/2024 6.34 5.55 LU2379469104
Class A2 Hedged EUR 7.53 0.01 0.13 16/Jul/2024 7.53 6.33 LU2125116090
Class D2 USD 9.12 0.01 0.11 16/Jul/2024 9.12 7.55 LU1564328224
Class A2 Hedged HKD 80.20 0.07 0.09 16/Jul/2024 80.20 67.13 LU2125116173
Class A8 Hedged AUD 5.39 0.01 0.19 16/Jul/2024 5.39 4.81 LU1564328737
Class A2 Hedged AUD 7.75 0.01 0.13 16/Jul/2024 7.75 6.50 LU2125116256
Class A2 Hedged GBP 7.91 0.01 0.13 16/Jul/2024 7.91 6.59 LU2125115951
Class A8 Hedged EUR 5.40 0.01 0.19 16/Jul/2024 5.40 4.81 LU2125116413
Class I6 USD 5.50 0.01 0.18 16/Jul/2024 5.50 4.89 LU2211195172
Class A8 Hedged CNH 53.25 0.04 0.08 16/Jul/2024 53.25 47.87 LU1919856309
Class I2 USD 7.37 0.01 0.14 16/Jul/2024 7.37 6.09 LU2339509122
Class D3 Hedged GBP 6.16 0.00 0.00 16/Jul/2024 6.16 5.44 LU2381873038
Class D2 Hedged EUR 7.13 0.01 0.14 16/Jul/2024 7.13 5.98 LU2250419111

Portfolio Managers

Portfolio Managers

Neeraj Seth
Neeraj Seth
Stephen Gough
Stephen Gough
Suanjin Tan
Suanjin Tan

Literature

Literature