Fixed Income

iShares China CNY Bond Index Fund (IE)

  • NAV as of 20/Nov/2024 USD 9.65
    52 WK: 9.37 - 9.97
  • 1 Day NAV Change as of 20/Nov/2024 0.00 (-0.01%)

Overview

Investment Approach


The Fund aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the Bloomberg China Treasury + Policy Bank Index, the Fund’s benchmark index (Index).

The Fund is passively managed and aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index or provide a similar return to the securities of the Index. The FI securities, will at the time of inclusion in the Index, comply with the requirements of the Index and will have no minimum credit rating, provided they are not in default.

The Index measures the performance of CNY denominated bonds issued by the Ministry of Finance of the People’s Republic of China (PRC), and debt issued by Chinese policy banks (PRC government agencies which are not guaranteed by the government), that are listed on the China Interbank Bond Market (CIBM). They have a par value of at least CNY5 billion and a remaining maturity of at least 1 year at the time of inclusion in the Index. The Index does not impose any minimum credit rating requirements. The Fund intends to replicate the Index by holding the bond issues of all issuers which make up the Index, in a similar proportion to the weightings of the issuers in the Index.

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Noninvestment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets, failed/delayed delivery of securities or payments to the Fund and sustainability-related risks. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Fixed income securities issued or guaranteed by government entities in emerging markets generally experience higher ‘Credit Risk’ than developed economies.

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

Chart

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Distributions

Ex-Date Total Distribution
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Ex-Date Total Distribution
For more information: +353 1 612 3394 • www.blackrock.com • investor.services@blackrock.com

This chart shows the fund's performance as the percentage loss or gain per year over the last 2 years.

  2019 2020 2021 2022 2023
Total Return (%) -4.9 2.7
Benchmark (%) -5.3 2.6

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  From
30/Sept/2019
To
30/Sept/2020		 From
30/Sept/2020
To
30/Sept/2021		 From
30/Sept/2021
To
30/Sept/2022		 From
30/Sept/2022
To
30/Sept/2023		 From
30/Sept/2023
To
30/Sept/2024
Total Return (%)

as of 30/Sept/2024

- - - 0.52 10.85
Benchmark (%)

as of 30/Sept/2024

- - - 0.39 10.90
  1y 3y 5y 10y Incept.
Total Return (%) 9.61 1.47 - - 1.81
Benchmark (%) 9.57 1.34 - - 1.65
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 4.89 -1.15 2.06 4.57 9.61 4.48 - - 5.59
Benchmark (%) 4.86 -1.21 2.08 4.54 9.57 4.07 - - 5.07

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in USD, hedged share class benchmark performance is displayed in USD.

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

Key Facts

Key Facts

Net Assets
as of 20/Nov/2024
USD 273’193
Share Class launch date
18/Oct/2021
Share Class Currency
USD
Asset Class
Fixed Income
Index Ticker
I32561US
Initial Charge
0.00
Management Fee
0.10%
Performance Fee
0.00%
Domicile
Ireland
Management Company
BlackRock Asset Management Ireland Limited
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
ISCBISD
Net Assets of Fund
as of 20/Nov/2024
USD 141’683’827
Fund Launch Date
18/Oct/2021
Fund Base Currency
USD
Benchmark Index
BBG China Treasury + Policy Bank Total Return Index in USD
SFDR Classification
Other
Ongoing Charges Figures
0.15%
ISIN
IE000720VRP1
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BP5XL05

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Oct/2024
75
Standard Deviation (3y)
as of 31/Oct/2024
5.62%
Yield to Maturity
as of 31/Oct/2024
1.96%
Weighted Av YTM
as of 31/Oct/2024
1.96%
Weighted Avg Maturity
as of 31/Oct/2024
7.59 yrs
12 Month Trailing Dividend Distribution Yield
as of 31/Oct/2024
2.58%
3y Beta
as of 31/Oct/2024
1.00
Modified Duration
as of 31/Oct/2024
6.03
Effective Duration
as of 31/Oct/2024
6.04
WAL to Worst
as of 31/Oct/2024
7.59 yrs

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal. (Effective 30/Sept/2024)
Analyst-Driven % as of 30/Sept/2024
20.00
Data Coverage % as of 30/Sept/2024
58.00

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 6.35
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.44 10/15/2027 5.39
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.46 02/15/2026 4.95
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.75 06/15/2029 4.53
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.48 04/15/2027 4.21
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.53 10/18/2051 4.18
CHINA DEVELOPMENT BANK 3.12 09/13/2031 4.14
CHINA DEVELOPMENT BANK 3.8 01/25/2036 4.04
CHINA DEVELOPMENT BANK 3.05 08/25/2026 3.89
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.75 02/17/2032 3.31
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class S USD 9.65 0.00 -0.01 20/Nov/2024 9.97 9.37 IE000720VRP1
Class D GBP 11.56 -0.02 -0.17 20/Nov/2024 11.61 10.98 IE000WV9SR42
Class Flexible USD 10.02 -0.01 -0.07 24/May/2022 10.49 9.80 IE00058RY3Y6
Class D USD 10.41 0.00 -0.01 20/Nov/2024 10.75 9.85 IE000CW2NLR8
Class Institutional USD 10.40 0.00 -0.01 20/Nov/2024 10.74 9.84 IE000VJMUIV7

Portfolio Managers

Portfolio Managers

Iain Court
Iain Court

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 3 years
Example Investment USD 10’000
Scenario
If you exit after 1 year
If you exit after 3 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
9’100 USD
-9.0%
8’010 USD
-7.1%

Unfavourable

What you might get back after costs
Average return each year
9’270 USD
-7.3%
9’800 USD
-0.7%

Moderate

What you might get back after costs
Average return each year
10’220 USD
2.2%
11’030 USD
3.3%

Favourable

What you might get back after costs
Average return each year
11’370 USD
13.7%
12’410 USD
7.4%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature