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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

- - - - -
  1y 3y 5y 10y Incept.
8.84 - - - 8.82
  YTD 1m 3m 1y 3y 5y 10y Incept.
1.71 0.45 2.18 8.84 - - - 8.90

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 CNH, 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 27-Mar-20 RMB 2,899.461
Base Currency China OffShore Renminbi
Fund Launch Date 11-Nov-11
Share Class launch date 27-Feb-19
Asset Class Fixed Income
Morningstar Category RMB Bond
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU1940842344
Bloomberg Ticker BGCBI6C
Initial Charge -
Performance Fee -
SEDOL BJK6M48
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment RMB 10000000
Minimum Subsequent Investment RMB 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 28-Feb-20
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.86 07/22/2049 2.27
COASTAL EMERALD LTD RegS 4.3 12/31/2049 2.04
CHINA PEOPLES REPUBLIC OF (GOVERNM 4.08 10/22/2048 1.56
SHANGRAO INVESTMENT HOLDINGS INTER RegS 4.3 01/16/2023 1.46
CHENGDU COMMUNICATIONS INVESTMENT RegS 4.75 12/13/2027 1.40
Name Weight (%)
CHOUZHOU INTERNATIONAL INVESTMENT RegS 4 02/18/2025 1.25
CHENGDU TIANFU NEW AREA INVESTMENT RegS 4.65 05/07/2024 1.23
CITY DEVELOPMENT COMPANY OF LAN ZH RegS 4.15 11/15/2022 1.18
CHENGDU XINGCHENG INVESTMENT GROUP RegS 2.5 03/20/2021 1.18
NANJING YANGZI STATE-OWNED INVESTM RegS 4.5 12/05/2027 1.14
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28-Feb-20

% of Market Value

Type Fund
as of 28-Feb-20

% of Market Value

Type Fund
as of 28-Feb-20

% of Market Value

Type Fund
Allocations subject to change.
as of 28-Feb-20

% of Market Value

Type Fund
as of 28-Feb-20

% of Market Value

Type Fund
as of 28-Feb-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 I6 CNH Monthly 100.76 0.52 0.52 104.08 97.23 - LU1940842344 - -
Class I4 Hedged GBP - 9.72 0.05 0.52 10.04 9.38 - LU2112291872 - -
Class I2 Hedged USD - 9.76 0.05 0.51 10.05 9.42 - LU2112291955 - -
Class D2 Hedged EUR - 9.72 0.05 0.52 10.04 9.38 - LU2112292417 - -
Class A2 Hedged USD - 9.98 0.05 0.50 10.28 9.64 - LU2070343392 - -
Class A6 Hedged CAD - 9.77 0.06 0.62 10.13 9.42 - LU2077746696 - -
Class D2 Hedged USD - 9.75 0.05 0.52 10.05 9.42 - LU2112292250 - -
Class D4 Hedged GBP - 9.72 0.05 0.52 10.04 9.38 - LU2112292177 - -
Class A2 CNH None 96.36 0.50 0.52 99.14 92.61 - LU0679940949 - -
Class D3 USD Monthly 9.96 0.03 0.30 10.71 9.62 - LU0683067952 - -
Class I2 Hedged EUR - 9.72 0.05 0.52 10.04 9.38 - LU2112292094 - -
Class A3 CNH Monthly 70.54 0.36 0.51 72.79 68.07 - LU0679941160 - -
Class I3 USD Monthly 9.62 0.02 0.21 10.34 9.29 - LU1648248299 - -
Class A3 HKD Monthly 76.86 0.21 0.27 83.61 74.25 - LU0690034276 - -
Class D2 USD None 13.53 0.04 0.30 14.27 13.07 - LU0719319435 - -
Class I2 USD None 16.99 0.05 0.30 17.91 16.40 - LU1588882974 - -
Class A2 CHF None 13.01 -0.06 -0.46 14.15 12.80 - LU0969580058 - -
Class A2 USD None 13.54 0.04 0.30 14.29 13.08 - LU0679941327 - -
Class A3 USD Monthly 9.92 0.03 0.30 10.66 9.57 - LU0679941673 - -
Class I6 USD Hedged USD - 10.19 0.05 0.49 10.19 9.84 - LU2134542930 - -
Class A6 Hedged GBP - 9.72 0.04 0.41 10.10 9.39 - LU2077746779 - -
Class A6 Hedged NZD - 9.74 0.05 0.52 10.12 9.39 - LU2077746340 - -
Class D2 CNH None 96.28 0.50 0.52 99.05 92.22 - LU0827885731 - -
Class AI2 EUR - 9.82 0.02 0.20 10.00 9.66 - LU2131808516 - -
Class AI2 EUR - 10.09 0.06 0.60 10.09 10.00 - LU2131808789 - -
Class A6 Hedged EUR Monthly 9.50 0.05 0.53 10.10 9.17 - LU1847653224 - -
Class I2 EUR - 15.43 0.02 0.13 16.36 14.86 - LU2011139461 - -
Class A6 Hedged USD Monthly 9.98 0.05 0.50 10.35 9.64 - LU1847653141 - -
Class A6 Hedged AUD Monthly 9.85 0.05 0.51 10.33 9.52 - LU1852331039 - -
Class A6 Hedged SGD Monthly 9.95 0.05 0.51 10.36 9.60 - LU1847653497 - -
Class A6 CNH Monthly 101.83 0.52 0.51 105.27 98.27 - LU1852330734 - -
Class A6 Hedged HKD - 97.83 0.50 0.51 101.39 94.46 - LU1963769176 - -

Portfolio Managers

Portfolio Managers

Artur Piasecki
Artur Piasecki
Eric Liu
Eric Liu

Literature

Literature