Investment objective & strategy
As of Feb. 23, 2026 · prospectusObjective. The investment objective of BlackRock China A Opportunities Fund (the Fund), a series of BlackRock Funds SM (the Trust), is to seek to maximize total return. Total return means the combination of capital appreciation and investment income.
Strategy. Under normal circumstances, the Fund seeks to invest at least 80% of its net assets plus the amount of any borrowings for investment purposes in equity securities of issuers domiciled in the Peoples Republic of China (China or the PRC and, for the purpose of this prospectus, excluding Hong Kong, Macau and Taiwan) and listed in China (i.e., A-shares), and derivatives that have similar economic characteristics to such securities. A-shares are equity securities of companies domiciled in China that trade on the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) and are quoted in renminbi (RMB). The Fund primarily intends to invest in equity securities or other financial instruments that are components of, or have characteristics similar to, … Under normal circumstances, the Fund seeks to invest at least 80% of its net assets plus the amount of any borrowings for investment purposes in equity securities of issuers domiciled in the Peoples Republic of China (China or the PRC and, for the purpose of this prospectus, excluding Hong Kong, Macau and Taiwan) and listed in China (i.e., A-shares), and derivatives that have similar economic characteristics to such securities. A-shares are equity securities of companies domiciled in China that trade on the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) and are quoted in renminbi (RMB). The Fund primarily intends to invest in equity securities or other financial instruments that are components of, or have characteristics similar to, the securities included in the MSCI China A Onshore Index. The MSCI China A Onshore Index captures large and mid-cap representation across China securities listed on the SSE and SZSE. The index includes those securities that are accessible through the Shanghai-Hong Kong Stock Connect program (Shanghai Connect) or the Shenzhen-Hong Kong Stock Connect program (Shenzhen Connect and, together with Shanghai Connect, Stock Connect) or the Qualified Foreign Institutional Investor (QFII) system. The Fund may invest in issuers of any market capitalization. The Fund primarily seeks to buy common stock and may also invest in preferred stock. From time to time, the Fund may invest in shares of companies through new issues or initial public offerings (IPOs). The Fund may also purchase convertible securities. The Fund intends to invest in A-shares primarily through Stock Connect. Trading through Stock Connect is subject to a daily quota (the Daily Quota), which limits the maximum net purchases under Stock Connect each day and, as such, buy orders for A-shares would be rejected once the Daily Quota is exceeded (although the Fund will be permitted to sell A-shares regardless of the Daily Quota balance). The Fund may use derivatives, including options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) and forward contracts, both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in currency exchange rates, interest rates and movements in the securities markets. In order to manage cash flows into or out of the Fund effectively, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a commodity, a currency or an index, including but not limited to the MSCI China A Onshore Index. The use of options, futures, swaps and forward contracts can be effective in protecting or enhancing the value of the Funds assets. The Fund may engage in active and frequent trading of portfolio securities to seek to achieve its primary investment strategies.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Receive CONTEMPORARY A-A Pay Overnight Rate -1 | — | $1.13M | 4.97% |
| PING AN INSURA-A | — | $926.98K | 4.08% |
| CHINA MERCH BK-A | — | $728.21K | 3.20% |
| Midea Group Company, Ltd. | 333 | $724.60K | 3.19% |
| JIANGSU HENGRU-A | — | $560.76K | 2.47% |
| ZHONGJI INNOLI-A | — | $546.95K | 2.41% |
| SUNGROW POWER -A | — | $490.12K | 2.16% |
| BOE TECHNOLOGY-A | — | $486.33K | 2.14% |
| FUYAO GLASS-A | — | $483.71K | 2.13% |
| KWEICHOW MOUTAI CO LTD A | — | $467.69K | 2.06% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Xtrackers Harvest CSI 300 China A-Shares ETF · ASHR | 51% | 0.65% |
| iShares MSCI China A ETF · CNYA | 46% | 0.60% |
| Morgan Stanley China A Share Fund, Inc. | 44% | — |
Advisers
| Firm | Role |
|---|---|
| BlackRock Advisors, LLC | Adviser |
Footnotes
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
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