BlackRock Global High Yield Bond Fund (USD) A2
Last NAV
(Last Update : 2024/06/13)
1-Month return
Fund House BlackRock Asset Management North Asia Limited
Fund Type Fixed Income Funds
Fund Size
Sector High Yield
Geographic Allocation Global
Fund Investment Objective & Strategy
The Global High Yield Bond Fund seeks to maximise total return. The Fund invests globally at least 70% of its total assets in high yield fixed income transferable securities. The Fund may invest in the fullspectrum of available fixed income transferable securities, including non-investment grade. Currencyexposure is flexibly managed.
Key Risks
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.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.Interest Rate risks:An increase in interest rates may adversely affect the value of the bonds held by the Fund.Non-investment grade risks:Investment in non-investment grade bonds, including sovereign debts, 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.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.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.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.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.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.The Fund may have exposure to Eurozone sovereign debts. In light of the fiscal conditions of certain European countries, the Fund may be subject to a number of increased risks arising from a potential crisis in the Eurozone (such as volatility, liquidity, price and currency risks). The performance of the Fund could deteriorate should there be any adverse events in the Eurozone (e.g. downgrade of sovereign credit ratings, default of one or more European countries, or even break-up of the Eurozone).Capital growth risks:Risks associated with fees and/or dividends paid out of capital:Distributing (S) Shares and (R) Shares pay dividends gross of expenses, meaning all fees are deducted from capital; and may pay dividends out of capital. The effect of fees and/or dividends being paid out of capital gains or initially subscribed capital will result in more income being available for distribution,however, the capital that the Fund has available for investment in the future and capital growth may be reduced.Fees and/or dividends paid out of capital may amount to a partial return or withdrawal of an investor’s original investment or from any capital gains attributable to that original investment.
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