Notification of changes to the policies of the underlying funds of various BlackRock funds
02 December 2019
- M82 BlackRock World Gold
- P69 BlackRock Sustainable Energy
- P70 BlackRock World Mining
We have been notified by BlackRock Global Funds (“The Company”) of the following change in policy of the underlying funds of the above named funds. This change will take effect from 31 December 2019 (the “Effective Date”).
Investment in People’s Republic of China (PRC)
The Company have confirmed that the investment policy of the underlying funds will be changed to enable these underlying funds to increase their ability to invest in the PRC (a) via RQFII quota and/or via the Stock Connects; and/or (b) in the CIBM via the Foreign Access Regime and/or Bond Connect, thus enabling greater focus on the PRC.
Stock Connect means each of the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect (collectively the “Stock Connects”) and allows international and Mainland Chinese investors to trade securities in each other’s markets through the trading and clearing facilities of their home exchange. RQFII means a Renminbi Qualified Foreign Institutional Investor. Bond Connect means the initiative launched in July 2017 for mutual bond market access between Hong Kong and Mainland China as described in the section entitled “China Interbank Bond Market” in the “Investment Objectives and Policies” section of the underlying fund’s prospectus. CIBM means the Mainland China interbank bond markets of the PRC.
At present, the underlying funds may invest directly up to 10% of its total assets in the PRC by investing via the Stock Connects. The Company have confirmed that, from the Effective Date, the underlying funds may invest directly up to 20% of its total assets in the PRC by investing via the Stock Connects.
Should you have any questions regarding these changes, please contact International Funds & Investments.