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Fixed Income

BGF China Bond Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

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. Compared to more established economies, the value of investments in developing Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held.

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

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Performance

Performance

  • Returns

  From
31-Dec-2014
To
31-Dec-2015
From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of 31-Dec-19

- - - -1.60 7.82
  1y 3y 5y 10y Incept.
4.81 - - - 5.15
  YTD 1m 3m 1y 3y 5y 10y Incept.
0.82 0.82 3.11 4.81 - - - 13.45

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 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

Chart

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
View full table

Key Facts

Key Facts

Size of Fund (Millions) as of 17-Feb-20 RMB 2,692.018
Base Currency China OffShore Renminbi
Fund Launch Date 11-Nov-11
Share Class launch date 19-Jul-17
Asset Class Fixed Income
Morningstar Category RMB Bond
Benchmark Index 1 Year China Household Savings Deposit Rate
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU1648248299
Bloomberg Ticker BGRBI3U
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL BF0PYV8
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 10000000
Minimum Subsequent Investment USD 1000
Use of Income Distributing

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 31-Jan-20
Name Weight (%)
COASTAL EMERALD LTD RegS 4.3 12/31/2049 1.30
KUNMING TRAFFIC INVESTMENT CO LTD MTN RegS 6.2 06/27/2022 1.12
CHENGDU XINGCHENG INVESTMENT GROUP RegS 2.5 03/20/2021 1.12
CITY DEVELOPMENT COMPANY OF LAN ZH RegS 4.15 11/15/2022 1.09
CHENGDU COMMUNICATIONS INVESTMENT RegS 4.75 12/13/2027 1.08
Name Weight (%)
SUNRISE (CAYMAN) LTD RegS 5.25 03/11/2024 1.04
SHANGRAO INVESTMENT HOLDINGS INTER RegS 4.3 01/16/2023 1.03
HUANENG HONG KONG CAPITAL LTD RegS 3.6 12/31/2049 1.02
INNER MONGOLIA HIGH-GRADE HIGHWAY RegS 4.375 12/04/2020 0.98
CHINA SHANDONG INTERNATIONAL ECONO RegS 4 12/21/2020 0.97
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Jan-20

% of Market Value

Type Fund
as of 31-Jan-20

% of Market Value

Type Fund
as of 31-Jan-20

% of Market Value

Type Fund
Allocations subject to change.
as of 31-Jan-20

% of Market Value

Type Fund
as of 31-Jan-20

% of Market Value

Type Fund
as of 31-Jan-20

% of Market Value

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.

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class I3 USD Monthly 10.06 0.01 0.10 10.34 9.62 - LU1648248299 - -
Class I2 EUR - 16.32 0.05 0.31 16.35 14.86 - LU2011139461 - -
Class A6 Hedged GBP - 10.05 0.00 0.00 10.08 9.96 - LU2077746779 - -
Class A6 Hedged NZD - 10.06 0.00 0.00 10.09 9.96 - LU2077746340 - -
Class A6 Hedged CAD - 10.07 0.00 0.00 10.10 9.96 - LU2077746696 - -
Class A2 Hedged USD - 10.22 0.00 0.00 10.26 10.00 - LU2070343392 - -
Class A3 HKD Monthly 80.51 0.11 0.14 83.61 77.75 - LU0690034276 - -
Class D2 USD None 14.09 0.01 0.07 14.24 13.14 - LU0719319435 - -
Class A2 CHF None 13.85 0.03 0.22 14.15 12.93 - LU0969580058 - -
Class A3 USD Monthly 10.36 0.01 0.10 10.66 9.91 - LU0679941673 - -
Class A2 CNH None 98.54 0.02 0.02 98.87 90.75 - LU0679940949 - -
Class A3 CNH Monthly 72.38 0.02 0.03 72.62 70.11 - LU0679941160 - -
Class I6 CNH Monthly 103.48 0.03 0.03 103.81 100.00 - LU1940842344 - -
Class A6 Hedged EUR Monthly 9.82 0.01 0.10 10.10 9.76 - LU1847653224 - -
Class I2 USD None 17.69 0.02 0.11 17.87 16.48 - LU1588882974 - -
Class A2 USD None 14.11 0.02 0.14 14.26 13.18 - LU0679941327 - -
Class A6 Hedged AUD Monthly 10.20 0.01 0.10 10.33 10.09 - LU1852331039 - -
Class A6 Hedged USD Monthly 10.28 0.01 0.10 10.35 10.10 - LU1847653141 - -
Class D3 USD Monthly 10.41 0.01 0.10 10.71 9.96 - LU0683067952 - -
Class A6 CNH Monthly 104.66 -0.36 -0.34 105.02 101.96 - LU1852330734 - -
Class D2 CNH None 98.44 0.03 0.03 98.75 90.34 - LU0827885731 - -
Class A6 Hedged HKD - 100.77 0.01 0.01 101.39 99.58 - LU1963769176 - -
Class A6 Hedged SGD Monthly 10.26 0.00 0.00 10.36 10.13 - LU1847653497 - -

Portfolio Managers

Portfolio Managers

Artur Piasecki
Artur Piasecki
Eric Liu
Eric Liu

Literature

Literature