Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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LU1963769176

BlackRock BGF China Bond Fund HKD-Hedged (Dist.)(LU1963769176)

Fixed income
Investment grade
China
HKD Cash
Distributing

Invest with

HKD Cash

Payout type

Distributing

Risk rating

About this fund

Description

The Fund seeks to maximise total return by investing at least 70% of its total assets in fixed income transferable securities denominated in Renminbi or other non-Chinese domestic currencies issued by entities exercising the predominant part of their...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Offers exposure to both onshore and offshore Chinese bond markets. Invests primarily in onshore Renminbi bonds and offshore USD bonds and dynamically allocate between the two markets to capitalise on dislocations between the two markets, and to diversify risk and reduce volatility as the two markets have a very low correlation. Within the onshore Renminbi bond market, targets credit names with low foreign ownership to preserve the diversification benefit.

People

Managed by two experienced portfolio managers, Suanjin Tan and Yii Hui Wong with an average of more than 20 years investment experience. Portfolio managers are supported by a sizable credit analyst team, with a meaningful number of analysts situated onshore.

Performance

Has a proven track record since 2011; the Fund has navigated various periods of volatility with relative resilience, and has delivered first quartile performance compared to peers. The Fund's base currency is in RMB, and the share class is hedged to RMB.

Process

Employs a combination of top down macro positioning with bottom-up security selection. Security selection represents the core strategy of the portfolio. Uses macro insights to allocate risk between onshore Renminbi and offshore USD bond markets. Proprietary fundamental, technical and valuations analysis is done to guide sector and ratings allocations as well as corporate issuer selection.

Cost

Retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

The Fund offers a one-stop solution for investors to gain access to the onshore and offshore Chinese credit markets that have grown and matured significantly. It could be used as a diversifier to one's existing portfolio as the Fund has exhibited low correlation with traditional equities and fixed income asset classes. It also offers a relatively attractive yield and pays a stable monthly distribution, and therefore can be used as a diversifying income stream. However, investors should pay attention to the single country risk, and size one's allocation to this one Fund accordingly.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this distributing fund, which includes dividends paid out.

Total returns

Cumulative

Annualised

All Time

14.71%

YTD

0.30%

1 month

-1.59%

6 month

0.52%

1 year

3.84%

3 year

14.94%

5 year

5.19%

As of Mar 2026

Distributions

5.25%

Frequency

Monthly

31 Mar 2026

Yield

5.27%As of Mar 2026

Risk metrics

Max drawdown

-12.26%As of Mar 2026

Volatility

2.94%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	1.5%	0.4%	-1.6%	-	-	-	-	-	-	-	-	-
2025	4.4%	0.0%	0.6%	0.2%	-0.1%	0.4%	0.5%	1.0%	0.2%	1.2%	0.4%	-0.4%	0.3%
2024	7.8%	1.1%	1.1%	0.4%	0.1%	0.5%	0.6%	0.7%	0.6%	1.2%	0.5%	0.2%	0.6%
2023	3.1%	1.6%	0.1%	-0.5%	0.3%	-0.3%	0.6%	0.2%	-0.6%	-0.4%	-0.3%	1.3%	1.0%
2022	-5.7%	-0.9%	-1.5%	-1.2%	0.3%	0.1%	-0.7%	-0.8%	0.1%	-1.3%	-2.1%	1.0%	1.2%
Load more		5 of 8

Top Exposures

Holdings

Regions

Sectors

Huafa 2024 I Company Ltd. (2079-12-31 Maturity)	1.59%
Central Plaza Development Ltd. (2028-03-21 Maturity)	1.24%
China Construction Bank Corp. (2033-10-26 Maturity)	1.13%
China (People's Republic Of) (2032-03-25 Maturity)	1.08%
Studio City Company Limited (2027-02-15 Maturity)	1.01%
Central Plaza Development Ltd. (2029-04-07 Maturity)	0.98%
Australia & New Zealand Banking Group Ltd. (2037-02-23 Maturity)	0.98%
Macquarie Bank Ltd. (2036-08-20 Maturity)	0.95%
China Construction Bank Corp. (2031-08-10 Maturity)	0.85%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

0.98%0.76% p.a.

Save 22%

Fund facts

ISIN

LU1963769176

Fund house

BlackRock

Fund size

HK$13.8B

As of 31 Mar 2026

Fund inception date

17 Apr 2019

Fund class currency

HKD

Fund share class

A6 Hedged (HKD) (Distributing)

Oldest share inception date

11 Nov 2011

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

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