Equity

BGF Japan Small & MidCap Opportunities 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.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events.

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

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Reinvestments

This product does not have any distributions data as of now.

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 30.1 -4.0 9.1 4.5 39.1 -22.7 26.3 8.3 1.7 -22.7
Constraint Benchmark 1 (%) 26.8 0.5 13.0 6.9 30.1 -15.9 17.9 5.3 -2.5 -12.9

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

  1y 3y 5y 10y Incept.
5.77 -1.89 -2.69 3.51 5.25
Constraint Benchmark 1 (%) 13.17 1.48 0.03 5.48 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
4.12 -0.40 6.07 5.09 5.77 -5.57 -12.73 41.17 539.50
Constraint Benchmark 1 (%) 9.68 -0.67 6.10 8.59 13.17 4.52 0.15 70.44 -
  From
30-Jun-2018
To
30-Jun-2019
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
Total Return (%)

as of 30/Jun/2023

-18.00 9.35 23.27 -28.52 5.71
Constraint Benchmark 1 (%)

as of 30/Jun/2023

-9.24 0.29 19.52 -22.06 12.66

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 JPY.

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 27/Sep/2023 JPY 22,597,413,340
Share Class launch date 14/May/1987
Fund Launch Date 13/May/1987
Share Class Currency USD
Fund Base Currency JPY
Asset Class Equity
Constraint Benchmark 1 S&P Japan Mid Small Cap Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.83%
ISIN LU0006061252
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment USD 5,000.00
Minimum Subsequent Investment USD 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Japan Small/Mid-Cap Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MIGSJOI
SEDOL 0938930

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31/Aug/2023 89
Standard Deviation (3y) as of 31/Aug/2023 14.08%
3y Beta as of 31/Aug/2023 0.941
P/E Ratio as of 31/Aug/2023 14.34
P/B Ratio as of 31/Aug/2023 1.15

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 in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Japan Small & MidCap Opportunities Fund, Class A2, as of 31/Aug/2023 rated against 178 Japan Small/Mid-Cap Equity Funds.

Holdings

Holdings

as of 31/Aug/2023
Name Weight (%)
FUKUOKA FINANCIAL GROUP INC 3.28
77 BANK LTD/THE 2.40
KYUDENKO CORP 2.18
CMK CORPORATION 2.12
KYUSHU RAILWAY CO 1.90
Name Weight (%)
KONOIKE TRANSPORT CO LTD 1.89
MITSUBISHI LOGISTICS CORPORATION 1.89
TOKYO TATEMONO CO. LTD. 1.80
VALQUA LTD 1.70
KOHOKU KOGYO CO LTD 1.68
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Aug/2023

% of Market Value

Type Fund Benchmark Net
as of 31/Aug/2023

% 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
Class A2 USD None 63.37 0.01 0.02 27/Sep/2023 65.07 54.70 LU0006061252
Class A2 EUR None 60.23 0.44 0.74 27/Sep/2023 60.72 55.50 LU0171289068
Class D2 EUR None 67.82 0.50 0.74 27/Sep/2023 68.36 62.25 LU0252965594
Class I2 Hedged EUR - 11.52 0.04 0.35 27/Sep/2023 11.65 9.38 LU1822774102
Class A2 JPY None 9,466.00 31.00 0.33 27/Sep/2023 9,585.00 7,885.00 LU0249411835
Class D4 GBP Annual 53.55 0.21 0.39 27/Sep/2023 54.14 49.63 LU0827883017
Class I2 EUR - 13.71 0.10 0.73 27/Sep/2023 13.82 12.57 LU1822774011
Class D2 USD None 71.36 0.02 0.03 27/Sep/2023 73.24 61.17 LU0827883108
Class D2 Hedged EUR None 64.34 0.22 0.34 27/Sep/2023 65.07 52.50 LU0827883280
Class I2 JPY None 2,155.00 7.00 0.33 27/Sep/2023 2,182.00 1,786.00 LU0992622497
Class A2 Hedged USD None 19.66 0.07 0.36 27/Sep/2023 19.88 15.94 LU0931342652
Class A2 Hedged EUR None 59.26 0.20 0.34 27/Sep/2023 59.94 48.54 LU0255399742
Class D2 JPY None 10,659.00 36.00 0.34 27/Sep/2023 10,792.00 8,844.00 LU0496417709
Class A4 GBP Annual 51.97 0.20 0.39 27/Sep/2023 52.41 47.94 LU0204063480

Portfolio Managers

Portfolio Managers

Hiroki Takayama
Hiroki Takayama

Literature

Literature