Fixed Income

iShares China CNY Bond Index Fund (IE)

  • NAV as of 20-Jan-23 USD 10.03
    52 WK: 9.34 - 10.49
  • 1 Day NAV Change as of 20-Jan-23 0.00 (-0.01%)

Overview

Investment Approach


The Fund aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the Bloomberg Barclays China Treasury + Policy Bank Index, the Fund’s benchmark index (Index).

The Fund is passively managed and aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index or provide a similar return to the securities of the Index. The FI securities, will at the time of inclusion in the Index, comply with the requirements of the Index and will have no minimum credit rating, provided they are not in default.

The Index measures the performance of CNY denominated bonds issued by the Ministry of Finance of the People’s Republic of China (PRC), and debt issued by Chinese policy banks (PRC government agencies which are not guaranteed by the government), that are listed on the China Interbank Bond Market (CIBM). They have a par value of at least CNY5 billion and a remaining maturity of at least 1 year at the time of inclusion in the Index. The Index does not impose any minimum credit rating requirements. The Fund intends to replicate the Index by holding the bond issues of all issuers which make up the Index, in a similar proportion to the weightings of the issuers in the Index.

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.

Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Noninvestment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets, failed/delayed delivery of securities or payments to the Fund and sustainability-related risks. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Fixed income securities issued or guaranteed by government entities in emerging markets generally experience higher ‘Credit Risk’ than developed economies.
Show Less
Loading

Performance

Performance

Chart

Performance chart data not available for display.
View full chart
Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

This chart shows the fund's performance as the percentage loss or gain per year over the last 1 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2018 2019 2020 2021 2022
Total Return (%) -5.0
Benchmark (%) -5.3
  From
31-Dec-2017
To
31-Dec-2018		 From
31-Dec-2018
To
31-Dec-2019		 From
31-Dec-2019
To
31-Dec-2020		 From
31-Dec-2020
To
31-Dec-2021		 From
31-Dec-2021
To
31-Dec-2022
Total Return (%)

as of 31-Dec-22

- - - - -4.97
Benchmark (%)

as of 31-Dec-22

- - - - -5.25
  1y 3y 5y 10y Incept.
Total Return (%)

as of 31-Dec-22

-4.97 - - - -1.74
Benchmark (%)

as of 31-Dec-22

-5.25 - - - -1.98
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%)

as of 31-Dec-22

-4.97 3.30 2.29 -1.80 -4.97 - - - -2.08
Benchmark (%)

as of 31-Dec-22

-5.25 3.23 2.19 -2.01 -5.25 - - - -2.37

The figures shown relate to past performance. 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.

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

 

Key Facts

Key Facts

Net Assets as of 20-Jan-23 USD 100,223
Net Assets of Fund as of 20-Jan-23 USD 198,289,261
Share Class launch date 18-Oct-21
Fund Launch Date 18-Oct-21
Share Class Currency USD
Fund Base Currency USD
Asset Class Fixed Income
Benchmark Index Bloomberg China Treasury + Policy Bank Index
Index Ticker I32561US
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charges Figures 0.24%
Annual Management Fee 0.15%
Performance Fee 0.00%
Minimum Initial Investment USD 500,000.00
Minimum Subsequent Investment USD 5,000.00
Use of Income Accumulating
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Morningstar Category -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker ISCBIIA
ISIN IE000VJMUIV7
SEDOL BMYX8N7

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30-Dec-22 46
Standard Deviation (3y) as of - -
3y Beta as of - -
Yield to Maturity as of 30-Dec-22 2.79
Modified Duration as of 30-Dec-22 5.85
Weighted Average YTM as of 30-Dec-22 2.79%
Effective Duration as of 30-Dec-22 5.88
Weighted Avg Maturity as of 30-Dec-22 7.72
WAL to Worst as of 30-Dec-22 7.72

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 30-Dec-22
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 10.69
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 7.17
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.72 04/12/2051 7.01
CHINA DEVELOPMENT BANK 3.48 01/08/2029 6.16
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.48 04/15/2027 5.10
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.69 08/12/2026 4.82
AGRICULTURAL DEVELOPMENT BANK OF C 3.75 01/25/2029 4.00
EXPORT-IMPORT BANK OF CHINA 3.28 02/11/2024 3.58
CHINA DEVELOPMENT BANK 3.68 02/26/2026 3.43
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.9 05/05/2026 3.40
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Dec-22

% of Market Value

Type Fund Benchmark Net
as of 30-Dec-22

% of Market Value

Type Fund Benchmark Net
as of 30-Dec-22

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class Institutional USD - 10.03 0.00 -0.01 20-Jan-23 10.49 9.34 IE000VJMUIV7 -
Class S USD - 9.83 0.00 -0.01 20-Jan-23 10.49 9.15 IE000720VRP1 -
Class Flexible USD - 10.02 -0.01 -0.07 24-May-22 10.49 9.80 IE00058RY3Y6 -
Class D GBP - 11.44 -0.02 -0.17 20-Jan-23 12.48 10.78 IE000WV9SR42 -
Class D USD - 10.04 0.00 -0.01 20-Jan-23 10.49 9.34 IE000CW2NLR8 -

Portfolio Managers

Portfolio Managers

Iain Court
Iain Court

Literature

Literature