BlackRock Global Funds - US Dollar High Yield Bond Fund A3 MDis USD

貝萊德全球基金 - 美元高收益債券基金 A3類 MDis 美元

LU0172419151

Risk Rating: Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.25%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.88%
3 mth
+2.16%
6 mth
+3.90%
1 yr
+7.37%
3 yr
+19.10%
5 yr
+22.00%

Analytical Figures (3 years)

Annualized Return
+6.00%
Annualized Volatility
+4.12%
Sharpe Ratio
+0.95

Fund Information

Fund Houses
BlackRock Asset Management North Asia Limited
Launch Date
1993-10-28
Fund Manager
James Keenan
Mitchell S. Garfin
David Delbos
Manager Start Date
James Keenan (Start Date: 2007-06-01) Mitchell S. Garfin (Start Date: 2009-05-01) David Delbos (Start Date: 2015-02-18)
Geographical Focus
US
Asset Class/ Sector
Fixed Income - High yield
Risk Rating
Risk Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-09-29)
USD 2,107,844,416.642
Management Fee
1.25%
Latest Dividend
USD 0.021600 (2019-10-30)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.25%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

-

Dividend Records

Dividend DateDividend Records (USD)
2019-10-300.021600
2019-09-290.021400
2019-08-290.022100
2019-07-300.023600
2019-06-270.020200
2019-05-300.024110
2019-04-290.023591
2019-03-280.021747
2019-02-270.021867
2019-01-300.022834
2018-12-300.023350
2018-11-290.023879
2018-10-300.025200
2018-09-270.021062
2018-08-300.024062
2018-07-300.024062
2018-06-280.023102
2018-05-300.024146
2018-04-290.024228
2018-03-280.021388
2018-02-270.020629
2018-01-300.023783
2017-12-280.021025
2017-11-290.022425
2017-10-300.023159
2017-09-280.020896
2017-08-300.023181
2017-07-300.023584
2017-06-290.022677
2017-05-300.026316
2017-04-270.022094
2017-03-300.024901
2017-02-270.022809
2017-01-300.024868
2016-12-290.023952
2016-11-290.023368
2016-10-300.022488
2016-09-290.021928
2016-08-300.024452
2016-07-280.021503
2016-06-290.022936
2016-05-300.023140
2016-04-280.020618
2016-03-300.022348
2016-02-280.021149
2016-01-280.019779
2015-12-300.022014
2015-11-290.022245
2015-10-290.020834
2015-09-290.021831
2015-08-300.022371
2015-07-300.021387
2015-06-290.022192
2015-05-280.021151
2015-04-290.022491
2015-03-300.023512
2015-02-260.020375
2015-01-290.021653
2014-12-300.023983
2014-11-270.020221
2014-10-300.022388
2014-09-290.022838
2014-08-280.018538
2014-07-300.020665
2014-06-290.021420
2014-05-290.020754
2014-04-290.023482
2014-03-300.024608
2014-02-270.022258
2014-01-300.025221
2013-12-300.024752
2013-11-280.022281
2013-10-300.023987
2013-09-290.024527
2013-08-290.024089
2013-07-300.025962
2013-06-270.023207
2013-05-300.026734
2013-04-290.027359
2013-03-270.023827
2013-02-270.024146
2013-01-300.026049
2012-12-300.025788
2012-11-290.026267
2012-10-300.028072
2012-09-270.022815
2012-08-300.027076
2012-07-300.029338
2012-06-280.028094
2012-05-300.029925
2012-04-290.028744
2012-03-290.028396
2012-02-280.025544
2012-01-300.028582
2011-12-290.026418
2011-11-290.025743
2011-10-300.028166
2011-09-290.027747
2011-08-300.033948
2011-07-280.028005
2011-06-290.028938
2011-05-300.030082
2011-04-280.027632
2011-03-300.030170
2011-02-270.027508
2011-01-300.029588
2010-12-300.031517
2010-11-290.030860
2010-10-280.026357
2010-09-290.030234
2010-08-300.031801
2010-07-290.030915
2010-06-290.032006
2010-05-300.033030
2010-04-290.031302
2010-03-300.035531
2010-02-250.029852
2010-01-280.029855
2009-12-300.032617
2009-11-290.032192
2009-10-290.030697
2009-09-290.030128
2009-08-300.030259
2009-07-300.031179
2009-06-290.030066
2009-05-280.023839
2009-04-290.028930
2009-03-300.033488
2009-02-260.021776
2009-01-290.028794
2008-12-300.035798
2008-11-270.035016
2008-10-300.037917
2008-09-290.037575
2008-08-280.030237
2008-07-300.031686
2008-06-290.029030
2008-05-290.026173
2008-04-290.028405
2008-03-300.030871
2008-02-280.029417
2008-01-300.032648
2007-12-300.030860
2007-11-290.032305
2007-10-300.032299
2007-09-270.029743
2007-08-300.044260
2007-07-300.042304
2007-06-280.030920
2007-05-300.027300
2007-04-290.026607
2007-03-290.025336
2007-02-270.017085
2007-01-300.034855
2006-12-280.031552
2006-11-290.026980
2006-10-300.026612
2006-09-280.026520
2006-08-300.030511
2006-07-300.029100
2006-06-290.027600
2006-05-300.028000
2006-04-270.026300
2006-03-300.030700
2006-02-270.028300
2006-01-300.031900
2005-12-290.032200
2005-11-290.031400
2005-10-300.031900
2005-09-290.031600
2005-08-300.033100
2005-07-280.030500
2005-06-290.033400
2005-05-300.036300
2005-04-280.033200
2005-03-300.035500
2005-02-270.029900
2005-01-300.032400
2004-12-300.034200
2004-11-290.032600
2004-10-280.022800
2004-09-290.026900
2004-08-300.029000
2004-07-290.029400
2004-06-290.037400
2004-05-270.029900
2004-04-290.029500
2004-03-300.035100
2004-02-260.028300
2004-01-290.023710
2003-12-300.022200
2003-11-270.018200
2003-10-300.029190
2003-09-290.031140

Investment Objective

To maximise total return by investing at least 70% of the Fund’s assets in high yield bonds (including non-investment grade*) denominated in US dollars.

Nature and Extent of Risks

Investment involves risks. Please refer to the offering document for details including the risk factors.
1. Investment Risks
The Fund is an investment fund. The Fund’s investment portfolio may fall in value due to any of the risk factors below and therefore your investment in the Fund may suffer losses.
2. Credit Risks
The Fund may be exposed to the credit/default risk of bonds that it invests in. In the event of bankruptcy or default of an issuer, the Fund may experience losses and incur costs.
The actual or perceived downgrading of a rated debt security or its issuers could decrease its value and liquidity, and may have an adverse impact on the Fund, however, the Fund may continue to hold it to avoid a distressed sale.
3. Interest Rate Risks
An increase in interest rates may adversely affect the value of the bonds held by the Fund.
4. Non-Investment Grade/Unrated Bonds Risks
Investment in non-investment grade or unrated bonds, including sovereign debts, may subject the Fund to higher credit/default risks. If the issuer of the non-investment grade or unrated bond defaults, or if the non-investment grade or unrated bonds fall in value, investors may suffer significant losses.
Non-investment grade or unrated bonds tend to be less liquid and more volatile, and the market for these bonds is generally less liquid and more volatile, than higher rated fixedincome securities. Adverse events or market conditions may have a larger negative impact on the prices of non-investment grade or unrated bonds than on higher rated fixed-income securities. Such securities are also subject to a greater risk of loss of principal and interest than higher rated fixed-income securities.
5. Currency Risks
The Fund may invest in assets denominated in a currency other than the base currency of the Fund. Changes in exchange rates between such currency and the base currency and changes in exchange rate controls may adversely affect the value of the Fund’s assets.
The Investment Adviser may utilise techniques and instruments (e.g. currency overlays) in relation to currencies other than the base currency with the aim of generating positive returns. Any active currency management techniques implemented by the Fund may not be correlated with the underlying securities held by the Fund. As a result, the Fund may suffer significant losses even if there is no loss to the value of the underlying securities held by the Fund.
6. Delayed Delivery Transactions Risks
TBAs may involve counterparty default risk and a risk that the agreed (fixed) price is higher than the prevailing market price at the settlement date. These may have an adverse impact on the value of the Fund.
7. Derivatives Risks
In an adverse situation, if the use of derivatives for hedging and efficient portfolio management becomes ineffective, the Fund may suffer significant losses.
8. Distressed Securities Risks
Investment in securities issued by a company that is in financial difficulty or in default involves significant risk. There is no guarantee that any exchange offer or reorganisation will be successfully completed.
9. Geographical Concentration Risks
The Fund’s investments are concentrated in the US. This may result in greater volatility than more broad-based investments. The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the US.
10. Sovereign Debt Risks
Investment in bonds issued or guaranteed by governments or authorities may involve political, economic, default, or other risks, which may in turn have an adverse impact on the Fund. Due to these factors, the sovereign issuers may not be able or willing to repay the principal and/or interest when due.
Holders of defaulting sovereign debt may be requested to participate in the restructuring of such debt. In addition, there may be limited legal recourses available against the sovereign issuer in case of failure of or delay in repayment.
11. Capital Growth Risks
Risks Associated with Fees and/or Dividends Paid Out of Capital
Any distributions involving payment of dividends out of capital (Classes 6 and 8), payment of dividends out of gross income (i.e. payment of fees and expenses out of capital) (Classes 6 and 8) or payment of implied interest rate differentials arising from share class currency hedging as dividends (Class 8) amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Whilst all dividends paid result in an immediate reduction of the net asset value per share, these share classes may pay larger dividends (i.e. by paying dividends out of capital, gross income or interest rate differentials arising from share class currency hedging gains (if any)), which may therefore result in a larger reduction in the net asset value per share.
Payment of Dividends From Implied Interest Rate Differentials
For Distributing (R) Shares (Class 8), any dividends payable may include interest rate differentials arising from share class currency hedging gains/losses which may increase/ decrease dividends paid. Shareholders of such Distributing (R) Shares will forego capital gains as any currency hedging gains are distributed rather than added to capital. Conversely, currency hedging losses may decrease the dividends paid, and in extreme cases may deduct from capital.
12. Securities Lending Risks
When engaging in securities lending, the Fund will have a credit risk exposure to the counterparties to any securities lending contract. Fund investments can be lent to counterparties over a period of time. A default by the counterparty combined with a fall in the value of the collateral below that of the value of the securities lent may result in a reduction in the value of the Fund.

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852
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