BlackRock Global Funds - US Dollar Bond Fund A2 Acc USD

貝萊德全球基金 - 美元債券基金 A2類 Acc 美元

LU0096258362

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 HoursComplex

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD4,000.00Min. Subscription

0.85%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2021-05-12

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.73%
3 mth
-1.93%
6 mth
-1.80%
1 yr
+2.44%
3 yr
+14.87%
5 yr
+16.32%

Analytical Figures (3 years)

Annualized Return
+4.73%
Annualized Volatility
+4.62%
Sharpe Ratio
+0.68

Fund Information

Fund Houses
BlackRock Asset Management North Asia Limited
Launch Date
1989-04-06
Fund Manager
Rick Rieder
Bob Miller
Manager Start Date
Rick Rieder (Start Date: 2010-08-01) Bob Miller (Start Date: 2011-11-01)
Geographical Focus
US
Asset Class/ Sector
Fixed Income - Investment grade
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 2021-03-30)
USD 883,814,396.195
Management Fee
0.85%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD4,000.00Min. Subscription

0.85%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2021-05-12

Dividend Records

No Dividends

Investment Objective

To maximise total return by investing at least 70% of the Fund’s total assets in bonds denominated in US dollars (at least 80% of its total assets being investment grade* bonds). As part of its investment objective the Fund may invest up to 100% of its total assets in asset-backed securities (“ABS”) and mortgagebacked securities (“MBS”). It is anticipated that a large portion of the ABS and MBS held by the Fund will have an investment grade* rating but the Fund will be able to utilise the full spectrum of available ABS and MBS, including non-investment grade instruments. These may include asset-backed commercial paper, collateralised debt obligations, collateralised mortgage obligations, commercial mortgage-backed securities, credit-linked notes, real estate mortgage investment conduits, residential mortgage-backed securities and synthetic collateralised debt obligations. The issuers of the ABS and MBS may be companies, governments or municipalities and, more particularly, the Fund may hold MBS issued by government-sponsored enterprises.

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 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. 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 may adversely affect the value of the Fund’s assets.
The Investment Advisers 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.
5. 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.
6. 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.
7. Geographical Concentration Risks
The Fund’s investments are concentrated in the US. This may result in greater volatility than more broad-based investments.
8. Non-Investment Grade Risks
Investment in non-investment grade bonds, including sovereign debt, may subject the Fund to higher credit/default risks. If the issuer of the bond defaults, or if the non-investment grade bonds fall in value, investors may suffer significant losses.
Non-investment grade bonds tend to be more volatile, and the market for these bonds is generally less liquid, than investment grade bonds. Adverse events or market conditions may have a larger negative impact on the prices of non-investment grade bonds.
9. 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.
10. Turnover risk
The Fund may have large exposure to US Treasury bonds. The Investment Advisers support the liquidity of the Fund by ensuring that it invests in “on the run” Treasury bonds which are those that have recently been issued and are hence most liquid, and rotating such bonds to offer greater liquidity for a lower cost of trading. However, this policy may result in additional transaction costs which will be borne by the Fund and may adversely affect the Fund’s net asset value and the interest of the relevant Shareholders.
11. 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.
12. Contingent Convertible Bonds Risks
A contingent convertible bond may be converted into the issuer’s equity or be partly or wholly written off (a “write-down”) if a pre-specified trigger event occurs. Trigger levels differ and the exposure to conversion risk depends on the distance of the capital ratio to the trigger level. In case of conversion into equity, the Fund might be forced to sell these new equity shares. Such a forced sale might have an effect on market liquidity as there may not be sufficient demand for these shares. In the event of a write-down, which may be either temporary or permanent, the Fund may suffer a full, partial or staggered loss of the value of its investment. It might be difficult for the Fund to anticipate the trigger events or how the securities will behave upon conversion. Investment in contingent convertible bonds may suffer a loss of capital. Further, contingent convertible bonds are usually subordinated to comparable non-convertible securities, and thus are subject to higher risks than other debt securities. Coupon payments on certain contingent convertible bonds may be entirely discretionary and may be cancelled by the issuer, in which event the Fund may experience losses. Investment in contingent convertible bonds may also lead to increased industry concentration risk and thus counterparty risk as such securities are issued by a limited number of banks.