Annual Report and Audited Accounts BlackRock Global Index Funds R.C.S. Luxembourg: B 171278
31 March 2019
Contents
General Information 2
Chairman’s Letter to Shareholders 4
Investment Advisers’ Report 6
Directors’ Report 11
Report on Remuneration 15
Statement of Net Assets 19
Three Year Summary of Net Asset Values 21
Statement of Operations and Changes in Net Assets 23
Statement of Changes in Shares Outstanding 26
Portfolio of Investments 28 iShares Emerging Markets Equity Index Fund (LU) 28 iShares Emerging Markets Government Bond Index Fund (LU) 38 iShares Europe Equity Index Fund (LU) 54 iShares Euro Aggregate Bond Index Fund (LU) 59 iShares Euro Government Bond Index Fund (LU) 93 iShares Global Government Bond Index Fund (LU) 99 iShares Japan Equity Index Fund (LU) 114 iShares North America Equity Index Fund (LU) 118 iShares Pacific ex Japan Equity Index Fund (LU) 125 iShares World Equity Index Fund (LU) 128
Notes to the Financial Statements 143
Report of the Réviseur d’Entreprises Agréé 150
Appendix I – Share Classes (Unaudited) 152
Appendix II – Global Market Risk Exposure (Unaudited) 153
Supplementary Information (Unaudited) 154
Subscriptions can only be made on the basis of the current Prospectus, the Key Investor Information Document (“KIID”) supplemented by the most recent annual report and audited accounts and unaudited interim report and accounts, if published after such annual report and audited accounts. Copies are available at the registered office of the Company from the Local Investor Servicing team, the Transfer Agent, the Management Company or any of the Distributors. See General Information section for further details.
Annual Report and Audited Accounts [1] General Information
General Information
Board of Directors Legal Advisers Paul Freeman, Chairman Linklaters LLP Martha Boeckenfeld (appointed effective 29 October 2018) 35, avenue J.F. Kennedy, Michael Gruener L-1855 Luxembourg, Robert Hayes Grand Duchy of Luxembourg Francine Keiser Barry O’Dwyer Securities Lending Agent Geoffrey D. Radcliffe BlackRock Advisors (UK) Limited 12 Throgmorton Avenue, All Directors are non-executive Directors. London EC2N 2DL, Robert Hayes, Geoffrey D. Radcliffe, Barry O’Dwyer and Michael Gruener are employees of the BlackRock Group (the BlackRock Group of companies, the ultimate holding company United Kingdom of which is BlackRock, Inc., of which the Management Company and Investment Advisers are part of). Paul Freeman is a former employee of the BlackRock Group. Paying Agents Austria: Management Company Raiffeisen Bank International AG BlackRock (Luxembourg) S.A. Am Stadtpark 9, 35A, avenue J.F. Kennedy, 1030 Vienna, L-1855 Luxembourg, Austria Grand Duchy of Luxembourg Belgium: Investment Advisers J.P. Morgan Chase Bank N.A. BlackRock Investment Management (UK) Limited Brussels Branch 12 Throgmorton Avenue, 1 Boulevard du Roi Albert II, London EC2N 2DL, B1210 Brussels, United Kingdom Belgium
BlackRock Institutional Trust Company N.A. Denmark: 400 Howard Street, BlackRock Copenhagen Branch San Francisco CA 94105, Harbour House, USA Sundkrogsgade 21, DK-2100 Copenhagen, Principal Distributor Denmark BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue, France: London EC2N 2DL, CACEIS Bank United Kingdom 1-3 Place Valhubert, Depositary and Fund Accountant 75013 Paris, State Street Bank Luxembourg S.C.A. France 49, avenue J.F. Kennedy, L-1855 Luxembourg, Germany: Grand Duchy of Luxembourg J.P. Morgan AG CIB / Investor Services – Trustee & Fiduciary Listing Agent, Registrar and Transfer Agent Taunustor 1 (TaunusTurm), J.P. Morgan Bank Luxembourg S.A. 60310 Frankfurt am Main, European Bank & Business Centre, Germany 6, route de Trèves, Building C, L-2633 Senningerberg, Luxembourg: Grand Duchy of Luxembourg (Central Paying Agent) J.P. Morgan Bank Luxembourg S.A. Cabinet de révision agréé European Bank & Business Centre, Deloitte Audit, S.à r.l. 6, route de Trèves, Building C, 20, Boulevard de Kockelscheuer, L-2633 Senningerberg, L-1821 Luxembourg, Grand Duchy of Luxembourg Grand Duchy of Luxembourg
[2] BlackRock Global Index Funds (BGIF) General Information continued
Sweden: Registered Office BlackRock Investment Management (UK) 49, avenue J.F. Kennedy, Limited-Stockholm Filial L-1855 Luxembourg, Norrlandsgatan 16, Grand Duchy of Luxembourg 111 43 Stockholm, Sweden Enquiries In the absence of other arrangements, enquiries regarding Switzerland: the Company should be addressed as follows: State Street Bank International GmbH Munich Written Enquiries: Zurich Branch BlackRock Investment Management (UK) Limited, Beethovenstrasse 19, c/o BlackRock (Luxembourg) S.A. CH-8027 Zurich, P.O. Box 1058, Switzerland L-1010 Luxembourg, Grand Duchy of Luxembourg United Kingdom: J.P. Morgan Europe Limited All other enquiries: 3 Lochside View, Telephone: + 44 207 743 3300, Edinburgh EH12 9DH, Fax: + 44 207 743 1143. United Kingdom Email: [email protected]
Current Prospectus BlackRock Global Index Funds (the “Company”) Prospectus and the relevant KIID, along with copies of the Application Form may be obtained from the Local Investor Servicing team, the Management Company or any of the Representatives or Distributors. Copies of the Company’s Articles of Incorporation, the Annual Report and Audited Accounts and Unaudited Interim Report and Accounts may also be obtained free of charge from any of these offices and from the Paying Agents. All these documents are also available from www.blackrockinternational.com.
Representatives The representative in Denmark is BlackRock Copenhagen Branch, subsidiary of BlackRock Investment Management (UK) Limited, United Kingdom, Harbour House, Sundkrogsgade 21, Copenhagen, DK 2100, Denmark.
The representative in South Africa is BlackRock Investment Management (UK) Limited (South African Branch), Regus Convention Towers, Crn. Of Heerngracht and Coen Steyter Street, Cape Town 8001, South Africa.
The representative in Switzerland is BlackRock Asset Management Schweiz AG, Bahnhofstrasse 39, 8001 Zürich, Switzerland.
Portfolio of Investments Equities are primarily classified by the country of incorporation of the entity in which the Fund (each a “Fund”, together the “Funds”) holds shares.
Corporate and government fixed and variable income securities are primarily classified by the country of incorporation of the issuer.
Purchases and Sales A detailed list of investments purchased and sold for any Fund during the year is available upon request, free of charge, from the Registered Office, or the offices of the Representatives as mentioned above.
Authorised Status The Company is an undertaking for collective investment in transferable securities (“UCITS”) under the part I of Luxembourg Law of 17 December 2010, as amended. Regulatory consents have been obtained or appropriate notifications have been made for the distribution of shares of all the Company’s Funds in the umbrella in the following countries:
Austria, Chile, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, South Africa, Spain, Sweden, Switzerland, United Kingdom and Belgium.
The Company is duly registered with the Comisión Nacional de Mercado de Valores in Spain under number 1239.
Annual Report and Audited Accounts [3] Chairman’s Letter to Shareholders
Chairman’s Letter to Shareholders March 2019
Dear Shareholder,
I am writing to update you on the activities of BlackRock Global Index Funds (the “Company” or “BGIF”) over the 12 months to 31 March 2019. The BGIF range comprised 10 funds (each a “Fund”, together the “Funds”) as at 31 March 2019.
The Funds’ performance is covered in more detail in the separate Investment Adviser’s Report. The period under review saw a V-shaped decline and then recovery in major equity markets as US interest rate policy and the relative strength of China’s economy influenced market sentiment.
The global economy showed notable signs of slowing in the second half of 2018, reflecting a confluence of factors affecting major economies, including trade tensions, geopolitical problems and tightening monetary policy. The International Monetary Fund (“IMF”) now expects global growth to slow from 3.6% in 2018 to 3.3% in 2019, before returning to 3.6% in 2020.
There was some easing of the trade war between the US and China. The two sides took a pause on tariff increases. However, the problems are still being seen in manufacturing data from both countries. China has been notably weaker, dipping into negative territory at the end of 2018.
The Federal Reserve has recognised that the situation has changed and has halted further interest rate rises. Federal Reserve chairman Jerome Powell said in January that the Federal Reserve is adopting “a patient, wait-and-see approach regarding future policy changes.” This seems to have brought about some tentative improvement in the US economy and forecasters expect that the expansion will stay strong enough to stave off a new recession in the year ahead.
Elsewhere, monetary policy remains loose in the face of weakening data. Europe failed to recapture any economic momentum, with key economies such as Germany hurt in the cross-fire from the US/China trade war. The UK remained mired in Brexit squabbles, with signs that this was having a tangible effect on the economy. Japan was weaker, with government debt in 2018 hitting the US$10 trillion mark.
These difficulties were reflected in growing volatility in markets in the last few months of 2018. The S&P 500 dropped almost 20% from September to December with the large global technology names proving the most vulnerable. The clear bright spot, however, was emerging markets, which were buoyed by the Federal Reserve’s move on interest rates. Problems in Argentina and Turkey showed no signs of contagion. Investors could finally focus on the strong economic growth across many emerging markets and stock markets rallied.
However, markets staged a notable recovery at the start of 2019, with many recovering their previous highs. The trigger for this renewed optimism was the Federal Reserve paring back on interest rate rises and a recognition that the economic cycle may be able to continue for a little longer. Most have now pushed their expectations of recession back to 2020.
Bond yields continued to move higher in the latter part of 2018, which made achieving diversification tough for many investors. By mid-November, the US 10 year treasury yield had hit over 3.2%. However, since then, there has been a significant reversal and the benchmark bond yield is now sitting at around 2.5%. Corporate bonds also suffered in the general risk-off sentiment but recovered somewhat in 2019. For the time being, there has been no sign of an increase in default rates.
Regulatory change continued throughout Europe and a number of these future changes could have implications for investors. Key changes included:
Packaged Retail Investment and Insurance-based Investment Products (“PRIIPs”): The European Commission published guidelines on 7 July 2017 on key information documents for packaged retail and insurance-based investment products. The new legislation – which governs the marketing and distribution of financial products – came into effect for all funds, with the exception of UCITS funds, at the start of 2018. The Company will benefit from the transitional period available for a UCITS, and the legislation will not be applicable to the Company for the duration of this period, which has now been extended to 31 December 2021.
The Benchmarks Regulation also applies from 1 January 2018, subject to certain transitional provisions. This brings in guidance on the structure and use of benchmarks in measuring the performance of investment funds.
The information stated in this report is historical and not necessarily indicative of future performance.
[4] BlackRock Global Index Funds (BGIF) Chairman’s Letter to Shareholders March 2019 continued
There were no new fund launches or closures during the twelve month period. Assets Under Management (AUM) in the BGIF range rose by 2.94%. They now stand at USD 7.38bn, up from USD 7.17bn at the start of the period. The strongest increase in AUM was seen into the iShares Global Government Bond Index Fund (LU), which rose 42% to USD $516.0m. The iShares Euro Government Bond Index Fund (LU) also saw assets rise, gaining 10.4% to USD 578.3m. iShares Euro Aggregate Bond Index Fund (LU) was weaker, with AUM rising by 3.8% to USD 798.2m.
The iShares Emerging Markets Government Bond Index Fund (LU) saw assets drop 7.3% to USD 2.27bn.
Within equity funds, the iShares World Equity Index Fund (LU) was relatively strong, with assets rising 24.5% to USD 1,170.5m. Assets in the iShares North America Equity Index Fund (LU) rose 8.6% to USD 648.2m.
Elsewhere, assets fell. The iShares Emerging Markets Equity Index Fund (LU) saw AUM fall -3.3% to USD 505.6m. The iShares Japan Index Fund (LU) fell 10.1% to USD 166.4m. The iShares Pacific ex Japan Equity Index Fund (LU) fell 2.7% to USD 344.5m. The iShares Europe Equity Index Fund (LU) saw net assets fall 18% to USD 385.2m after weakness in the second half of the year.
Should you have any questions on any of this material, please contact us via our website: www.blackrockinternational.com.
Yours faithfully,
Paul Freeman Chairman
July 2019
The information stated in this report is historical and not necessarily indicative of future performance.
Annual Report and Audited Accounts [5] Investment Advisers’ Report
Investment Advisersʼ Report Performance Overview 31 March 2019
Disclosed in the table below are the performance returns for the primary share class for each Fund, which has been selected as a representative share class. The primary share class for each Fund is the A class non-distributing share. Performance figures for any other share class can be made available upon request.
Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. The Funds invest a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rates will affect the value of the investment. The performance figures do not consider charges and fees that may be levied at the time of subscription or redemption of shares. Levels and bases of taxation may change from time to time. Subscriptions can only be made on the basis of the current Prospectus, the Key Investor Information Document (“KIID”), supplemented by the most recent annual report and audited accounts and unaudited interim report and accounts, if published after such annual report and audited accounts. Copies are available from Local Investor Servicing team(1), the Transfer Agent, the Management Company or any of the Representatives or Distributors and at the registered office of the Company. BGIF is only available for investment by non-US citizens who are not residents of the US. The Funds are not offered for sale or sold in the US, its territories or possessions.
Financial Year Performance to 31 March 2019 Calendar Year Performance 1 year 2018 2017 2016 Launch Date
iShares Emerging Markets Equity Index Fund (LU) ‘A’ Non Dist (USD) (8.10)% (14.87)% 37.32% 10.60% 16-Nov-12 MSCI Emerging Markets Index (USD) (7.78)% (14.47)% 37.39% 11.26% iShares Emerging Markets Government Bond Index Fund (LU) ‘A’ Non Dist (USD) 3.87% (4.44)% 9.70% 9.65% 28-May-13 J.P. Morgan Emerging Markets Bond Index Global Diversified Index (USD) 4.21% (4.26)% 10.26% 10.15% iShares Europe Equity Index Fund (LU) ‘A’ Non Dist (EUR) 4.91% (10.71)% 10.66% 1.73% 23-Oct-12 MSCI Europe Index (Euro) 5.14% (10.66)% 10.52% 2.36% iShares Euro Aggregate Bond Index Fund (LU) ‘A’ Non Dist (EUR) 1.68% (0.09)% 0.08% 2.89% 28-May-13 Bloomberg Barclays Euro Aggregate Bond Index (Euro) 2.18% 0.41% 0.68% 3.32% iShares Euro Government Bond Index Fund (LU) ‘A’ Non Dist (EUR) 1.49% 0.43% (0.40)% 2.81% 23-Oct-12 FTSE EMU Government Bond Index (Euro) 1.96% 0.88% 0.15% 3.20% iShares Global Government Bond Index Fund (LU) ‘A’ Non Dist (USD) (2.10)% (1.34)% 6.85% 0.90% 23-Oct-12 FTSE World Government Bond Index (USD) (1.57)% (0.84)% 7.49% 1.60% iShares Japan Equity Index Fund (LU) ‘A’ Non Dist (USD) (8.96)% (14.16)% 23.31% 2.01% 23-Oct-12 MSCI Japan Index (USD) (8.11)% (13.23)% 24.25% 2.29% iShares North America Equity Index Fund (LU) ‘A’ Non Dist (USD) 8.90% (6.79)% 20.47% 10.79% 23-Oct-12 MSCI North America Index (USD) 9.29% (6.38)% 21.16% 11.37% iShares Pacific ex Japan Equity Index Fund (LU) ‘A’ Non Dist (USD) 3.77% (10.74)% 25.46% 6.56% 24-Oct-12 MSCI Pacific ex Japan Index (USD) 4.38% (10.22)% 25.96% 7.32% iShares World Equity Index Fund (LU) ‘A’ Non Dist (USD) 3.23% (9.49)% 22.09% 6.80% 23-Oct-12 MSCI World Index (USD) 3.57% (9.13)% 22.62% 7.27%
Fund performance returns are based on dealing prices with net dividends (after deduction of witholding tax) reinvested and are shown net of fees. Index Sources: Info Research & Datastream
Investment Objective Emerging markets charted almost the opposite course. The investment objective of each Fund is to match the They were particularly weak in the first part of the period performance of the Benchmark Index of that Fund. under review, as problems in Argentina and Turkey led investors to fear contagion across emerging markets. China Market Review proved vulnerable to US protectionism and Asian markets Stock markets started to look more fragile throughout 2018. fell a long way. However, they recovered significantly from While the US looked strong, the positive returns came from September onwards as investors were drawn in by low a narrow handful of high growth companies. When these too valuations and strong economic numbers. started to falter, from September onwards, it brought stock markets crashing lower. The S&P 500 lost almost 20% of its Bond markets were increasingly volatile over the period, value between September and December. It recovered most with yields moving higher as investors started to fear inflation of this ground in the first few months of 2019 as the Federal – and therefore rising rates – in the US. The Federal Reserve Reserve reversed its path on interest rates. was initially signalling three interest rate rises in 2019 and the
(1) The local BlackRock Group companies or branches or their administrators. The information stated in this report is historical and not necessarily indicative of future performance.
[6] BlackRock Global Index Funds (BGIF) Investment Advisersʼ Report Performance Overview 31 March 2019 continued
US 10 year treasury yield moved above 3%. However, bond Fund Benchmark Index Investment yields dropped as the Federal Reserve reversed course. Management Approach Elsewhere, the Bank of England raised rates in August, moving rates to 0.75%. Gilt yields picked up to around 1.7% in iShares Japan MSCI Japan Index Replicating mid-October, but fell back to their current level of 1.2% in 2019. Equity Index The European Central Bank pared back quantitative easing Fund (LU) towards the end of 2018, but reinstated some cheap loans iShares North MSCI North Replicating to banks in 2019 as economic data continued to be weak. America Equity America Index Index Fund (LU) Equity Fund Performance iShares Pacific ex MSCI Pacific Replicating The iShares Emerging Markets Equity Index was the weakest Japan Equity Index ex Japan Index over the period, falling 8.10%, affecting by poor sentiment Fund (LU) towards the sector. Japanese equities were also weak, with iShares World MSCI World Index Replicating the iShares Japan Equity Index Fund falling 8.96%. The iShares Equity Index North America Equity Index Fund was the strongest performer at Fund (LU) 8.90%. The iShares Europe Equity Index Fund was at 4.9% and the iShares Pacific ex Japan Equity Index Fund was at 3.77%. Tracking difference is defined as the difference in returns Fixed Income Fund Performance between a Fund and its Benchmark Index. For physically Government bond yields rose as interest rate rises continued replicating funds, the investment management approach is to accelerate. Within the BlackRock funds, the weakest to buy a portfolio of securities that as far as practicable consist performance came from the iShares Global Government of the securities that make up the Benchmark Index, in similar Bond Index Fund which fell 2.10%. The iShares Euro proportion to the weights represented in the Benchmark Index. Aggregate Bond Index Fund was at 1.68 %, while the iShares Euro Government Bond Index Fund was at 1.49%. For optimising funds, the investment management approach aims to match the performance of a Benchmark Index by Tracking Difference investing in a portfolio that is primarily made up of securities The investment objective of the Funds is to match the that represent the Benchmark Index. The objective is to performance of the benchmark indices listed in the table below: generate the total return of the index as close as reasonably possible net of transaction costs and gross of fees. Fund Benchmark Index Investment Management Cash management, efficient portfolio management techniques Approach including securities lending, transaction costs from rebalancing iShares Emerging MSCI Emerging Optimising and currency hedging can have an impact on tracking Markets Equity Markets Index difference. Importantly, these impacts can be either positive Index Fund (LU) or negative depending on the underlying circumstances.
iShares Emerging J.P. Morgan Optimising In addition to the above, the Funds may also have a tracking Markets Emerging Markets difference due to withholding tax suffered by the Funds on any Government Bond Bond Index Global income received from its investments. The level and quantum Index Fund (LU) Diversified of tracking difference arising due to withholding taxes depends iShares Europe MSCI Europe Index Replicating on various factors such as any reclaims filed on behalf of the Equity Index Funds with various tax authorities, any benefits obtained by Fund (LU) the Funds under a tax treaty or any securities lending activities iShares Euro Bloomberg Barclays Optimising carried out by the Funds. Aggregate Bond Euro Aggregate Index Fund (LU) Bond Index The table below compares the realised Fund performance against the performance of the relevant Benchmark iShares Euro FTSE EMU Optimising Government Bond Government Index during the twelve months ended 31 March 2019. Index Fund (LU) Bond Index An explanation for the difference is provided. iShares Global FTSE EMU Optimising Government Bond Government Index Fund (LU) Bond Index
The information stated in this report is historical and not necessarily indicative of future performance.
Annual Report and Audited Accounts [7] Investment Advisersʼ Report Performance Overview 31 March 2019 continued
Fund Tracking Perfor Tracking Explanation of the tracking difference perfor mance of difference mance Benchmark Net of TER of Fund* Index iShares Emerging Markets (8.10)% (7.78)% (0.32)% Before costs the Fund outperformed the Benchmark primarily Equity Index Fund (LU) due to security sampling. iShares Emerging Markets 3.87% 4.21% (0.34)% Before costs the Fund outperformed the Benchmark primarily Government Bond Index due to the valuation timing impact between the Fund and Fund (LU) the Benchmark. iShares Europe Equity Index 4.91% 5.14% (0.23)% Before costs the Fund outperformed the Benchmark Index Fund (LU) primarily due to differences in tax rates applied to the dividends received in the Fund versus the tax rates assumed in the total return calculation of the Benchmark Index. iShares Euro Aggregate Bond 1.68% 2.18% (0.50)% Before costs the Fund performed in line with the Benchmark Index. Index Fund (LU) iShares Euro Government Bond 1.49% 1.96% (0.47)% Before costs the Fund performed in line with the Benchmark Index. Index Fund (LU) iShares Global Government (2.10)% (1.57)% (0.53)% Before costs the Fund performed in line with the Benchmark Index. Bond Index Fund (LU) iShares Japan Equity Index (8.96)% (8.11)% (0.85)% Before costs the Fund underperformed the Benchmark primarily Fund (LU) due to a normal lag in recording a large futures transaction, and the related performance of the contracts, on the last reporting day of the period. This trade was strategically transacted to protect the performance of the Fund, which has a valuation point subsequent to the close of the underlying Japanese equity market. iShares North America Equity 8.90% 9.29% (0.39)% Before costs the Fund outperformed the Benchmark primarily Index Fund (LU) due to security sampling. iShares Pacific ex Japan Equity 3.77% 4.38% (0.61)% Before costs the Fund underperformed the Benchmark Index Fund (LU) primarily due to security sampling. iShares World Equity Index 3.23% 3.57% (0.34)% Before costs the Fund outperformed the Benchmark primarily Fund (LU) due to differences in tax rates applied to the dividends received in the Fund versus the tax rates assumed in the total return calculation of the Benchmark Index, as well as security sampling.
* Performance is reported for each Funds’ A class shares.
The information stated in this report is historical and not necessarily indicative of future performance.
[8] BlackRock Global Index Funds (BGIF) Investment Advisersʼ Report Performance Overview 31 March 2019 continued
Tracking Error A Fund’s tracking error may be affected if the times at which a Realised tracking error is the annualised standard deviation Fund and its Benchmark Index are priced are different. Where of the difference in monthly returns between a Fund and its the Benchmark Index is valued at the time the relevant markets Benchmark Index. Tracking error shows the consistency of the close for business and a Fund is valued at an earlier time, the returns relative to the Benchmark Index over a defined period tracking error of that Fund may appear to be higher than if of time. Tracking error is based on the NAV calculated in the Fund and the Benchmark Index were priced at the same accordance with the prospectus. time. This is particularly relevant for the fixed income Funds, although, less so for the equity Funds for which the relevant Anticipated tracking error is based on the expected volatility index provider issues a price of the relevant Benchmark Index of differences between the returns of a Fund and the returns at the same time as the equity Fund’s valuation point. of its Benchmark Index. For physically replicating funds, the investment management approach is to buy a portfolio of In addition, as the Net Asset Value of a Fund taken at its securities that, as far as practicable, consist of the securities valuation point includes the effect of any swing pricing, that make up the Benchmark Index, in similar proportion the tracking error figures set out below may be impacted to the weights represented in the Benchmark Index. depending on the significance of any adjustment in the Net Asset Value in order to reduce the effect of “dilution” on that For optimising Funds, the investment management approach Fund resulting from the sale or purchase of shares in the Fund. aims to match the main risk characteristics of the Benchmark Index by investing in a portfolio that is primarily made up of A Fund’s tracking error figures set out below may also be securities that represent the Benchmark Index. The objective affected by non-dealing days, which occur at times when is to generate a total return as close as reasonably possible the local stock exchanges or regulated markets in respect of to that of the index, net of transaction costs and gross of fees. a particular Fund are closed for trading and settlement due to Cash management, efficient portfolio management techniques public holidays. During such times, the relevant Funds will not (including securities lending), transaction costs from be able to obtain access to such market(s) directly and will, for rebalancing and currency hedging collectively can have an example, either hold the cash received from any subscriptions impact on tracking error, as well as the return differential until the relevant market(s) are open or will obtain exposure between a Fund and its Benchmark Index. Importantly, these to the relevant market(s) indirectly using proxy instruments. impacts can be either positive or negative, depending on Both approaches may increase a Fund’s tracking error. the underlying circumstances. Alternatively, the tracking error of a Fund may be affected if there is a public holiday in Luxembourg, as the Net Asset Explanation of Divergence Between Anticipated and Realised Value of the Funds will remain the same, despite movements Tracking Error in the underlying markets.
The Funds may have a tracking error due to a number The table below compares the anticipated tracking error of of sources. the Funds (disclosed in the prospectus on an ex ante basis) against the actual realised tracking error of the Funds as at Funds may have a tracking error due to withholding tax 31 March 2019. The realised tracking error is annualised and suffered by the Funds on any income received from its calculated using data from the preceding 36 month observation investments. The level and quantum of tracking error arising period. Where a Fund has not been trading for 36 months, the due to withholding taxes depends on various factors, such annualised tracking error since inception has been presented. as any reclaims filed by the Funds with various tax authorities, any benefits obtained by the Funds under a tax treaty or any securities lending activities carried out by the Funds.
Fund Anticipated Realised tracking Explanation tracking error error of Fund iShares Emerging Markets Equity Index Fund (LU) Up to 1.00% 0.96% The Fund tracked its Benchmark Index within its anticipated tracking error. iShares Emerging Markets Government Bond Index Up to 1.20% 0.58% The Fund tracked its Benchmark Index Fund (LU) within its anticipated tracking error. iShares Europe Equity Index Fund (LU) Up to 0.60% 0.44% The Fund tracked its Benchmark Index within its anticipated tracking error. iShares Euro Aggregate Bond Index Fund (LU) Up to 0.60% 0.23% The Fund tracked its Benchmark Index within its anticipated tracking error.
The information stated in this report is historical and not necessarily indicative of future performance.
Annual Report and Audited Accounts [9] Investment Advisersʼ Report Performance Overview 31 March 2019 continued
Fund Anticipated Realised tracking Explanation tracking error error of Fund iShares Euro Government Bond Index Fund (LU) Up to 0.25% 0.27% The tracking error of the Fund is higher than anticipated primarily due to swing pricing and public holidays in Luxembourg that coincided with a month-end valuation point. iShares Global Government Bond Index Fund (LU) Up to 0.45% 0.45% The Fund tracked its Benchmark Index within its anticipated tracking error. iShares Japan Equity Index Fund (LU) Up to 1.50% 1.42% The Fund tracked its Benchmark Index within its anticipated tracking error. iShares North America Equity Index Fund (LU) Up to 0.45% 0.25% The Fund tracked its Benchmark Index within its anticipated tracking error. iShares Pacific ex Japan Equity Index Fund (LU) Up to 2.00% 0.33% The Fund tracked its Benchmark Index within its anticipated tracking error. iShares World Equity Index Fund (LU) Up to 0.45% 0.18% The Fund tracked its Benchmark Index within its anticipated tracking error.
April 2019
The information stated in this report is historical and not necessarily indicative of future performance.
[10] BlackRock Global Index Funds (BGIF) Directors’ Report
Directors’ Report
Corporate Governance Statement The Directors have a continuing obligation to ensure they have sufficient time to discharge their duties. The details of Introduction each Director’s (including the Chairman), other appointments BlackRock Global Index Funds (the “Company”) is a public and commitments are made available to the Board and limited company (société anonyme) established under the BlackRock Investment Management (UK) Limited (“BIM laws of the Grand Duchy of Luxembourg as an open ended UK”) for inspection. All new appointments or significant variable capital investment company (société d’investissement commitments require the prior approval of BIM UK. à capital variable). The Company has been authorised by the Commission de Surveillance du Secteur Financier (the “CSSF”) Before a new Director is proposed to the shareholders for as an undertaking for collective investment in transferable appointment he or she will receive a full induction incorporating securities (“UCITS”) pursuant to the provisions of Part I of the relevant information regarding the Company and his or her law of 17 December 2010, as amended from time to time and duties and responsibilities as a Director. In addition, a new is regulated pursuant to such law. The Company complies with Director is required to spend some time with representatives the principles set out in the Association of the Luxembourg of BIM UK so that the new Director will become familiar with Fund Industry (“ALFI”) Code of Conduct Revision 2013 the various processes which are considered necessary for the (the “Code”) issued by ALFI in June 2013. proper performance of his or her duties and responsibilities to the Company. The Board of Directors of the Company (the “Board”) is committed to maintaining the highest standards of corporate The Company’s policy is to encourage Directors to keep governance and is accountable to shareholders for the up to date with developments relevant to the Company. The governance of the Company’s affairs. The Board has considered Directors have attended and will continue to attend updates the principles and recommendations of the Code and has put in and briefings run by BIM UK and affiliated entities in the U.S. place a framework for corporate governance which it believes and elsewhere. The Directors also receive regular briefings is appropriate for adherence to the principals of the Code given from, amongst others, the auditors, investment strategists, the nature of its structure as an Investment Company. This risk specialists, Management Company and legal advisers statement summarises the corporate governance structure and regarding any proposed product developments or changes processes in place for the Company for the period under review in laws or regulations that could affect the Company. from 1 April 2018 to 31 March 2019. Board’s Responsibilities Board Composition The Board meets at least quarterly and also on an ad hoc The Board currently consists of seven non-executive Directors, basis as required. The Board is supplied with information (including two independent Directors) as of 31 March 2019. in a timely manner and in a form and of a quality appropriate The Board is committed to maintaining an appropriate balance to enable it to discharge its duties. The Board is responsible of skills, experience, independence and knowledge amongst for the long-term success of the Company and recognises its its members. responsibility to provide leadership, direction and control to the Company within a framework of prudent and effective controls The Directors’ biographies, on pages 13 and 14, collectively which enables risk to be assessed and managed. The Board demonstrate a breadth of investment knowledge and reserves to itself decisions relating to the determination of experience, business and financial skills and legal and investment policy and objectives, any change in investment regulatory familiarity which enables them to provide effective strategy and entering into any material contracts. The Board strategic leadership, oversight and proper governance of the also approves the prospectus and any addenda to it, circulars Company. BlackRock considers the current compositions to to shareholders, financial statements and other relevant be a suitable and appropriate balance for the Board. legal documentation.
Article 13 of the Company’s Articles of Incorporation in The Chairman’s main responsibility is to lead and manage accordance with Luxembourg law, provides that Directors shall the Board, encourage critical discussions and promote be elected by the shareholders at their annual general meeting effective communication within the Board. In addition, he is for a period ending at the next annual general meeting and responsible for promoting best practice corporate governance until their successors are elected. Any Director who resigns and effective communication with shareholders. his/her position is obliged to confirm to the Board and the CSSF that the resignation is not connected with any issues The Directors have access to the advice and services of with or claims against the Company. external counsel and the resources of BIM UK and BlackRock (Luxembourg) S.A. (the “Management Company”) should they The Board supports a planned and progressive renewal of be needed. Where necessary, in the furtherance of their duties, the Board. BlackRock is committed to ensuring that Directors the Board and individual Directors may seek independent put forward for election by the shareholders possess the skills professional advice. The Board has responsibility for ensuring needed to maintain this balance. The Board is committed to that the Company keeps proper accounting records which carrying out an annual review of its performance and activities. disclose with reasonable accuracy at any time the financial
Annual Report and Audited Accounts [11] Directors’ Report continued
position of the Company and which enable it to ensure that The Management Company reports to the Board on a quarterly the financial statements comply with relevant accounting basis and by exception where necessary. Reporting is in place standards. It is the Board’s responsibility to present a balanced to ensure that the Board can effectively oversee the actions and understandable assessment of the Company’s financial of its delegates. position, which extends to interim financial statements and other reports made available to shareholders and the public. The Management Company is responsible for the risk The Board is responsible for taking reasonable steps for management and internal controls of the Company and safeguarding the assets of the Company and for taking for reviewing their effectiveness, for ensuring that financial reasonable steps in the prevention and detection of fraud information published or used within the business is reliable, and other irregularities. and for regularly monitoring compliance with regulations governing the operation of the Company. The Management Insurance Company reviews the effectiveness of the internal control The Company maintains appropriate Directors’ and Officers’ and risk management systems on an ongoing basis to identify, liability insurance cover. evaluate and manage the Company’s significant risks. As part of that process, there are procedures designed to capture Delegation of Responsibilities and evaluate any failings or weaknesses. Should a case be As an open ended variable capital investment company most categorised by the Board as significant, procedures exist to of the Company’s day-to-day management and administration ensure that necessary action is taken to remedy the failings. is delegated to BlackRock group companies such as the Management Company which employs dedicated compliance The Board is also responsible for establishing and maintaining and risk professionals, the Investment Advisers and other third adequate internal control and risk management systems of party service providers. The Board has delegated the following the Company in relation to the financial reporting process. areas of responsibility: Such systems are designed to manage rather than eliminate the risk of failure to achieve the Company’s financial reporting Management and Administration objectives. The Company has procedures in place to ensure all The Board has delegated the investment management, relevant accounting records are properly maintained and are distribution and administration of the Company and its Funds readily available, including production of annual and half-yearly to the Management Company. The Management Company financial statements. These procedures include appointing the has delegated the management of the investment portfolio Fund Accountant to maintain the accounting records of the to the Investment Advisers. The Investment Advisers operate Company independently of the Investment Manager and the under guidelines determined by the Board and as detailed in Depositary. The financial statements are prepared in accordance the Company’s prospectus relating to the Company’s Funds. with applicable law and Generally Accepted Accounting The relevant Investment Advisers have direct responsibility Principles (“GAAP”) in Luxembourg and are approved by the for the decisions relating to the day-to-day running of Board of Directors of the Company. The accounting information the Company’s Funds and are accountable to both the given in the annual report and audited accounts is required to Management Company and the Company for the investment be audited and the report of the réviseur d’entreprises agréé, performance of the Funds. The Board has also delegated the including any qualifications, is reproduced in full in the annual exercise of voting rights attaching to the securities held in the report and audited accounts of the Company. portfolio to the respective Investment Advisers who may in The control processes over the risks identified, covering turn delegate to BIM UK. Voting on behalf of shareholders is financial, operational, compliance and risk management, done in a manner which is believed to be in the best economic is embedded in the operations of the Management Company, interest of shareholders as long-term investors. BIM UK and other parties including the Fund Accountant and The Management Company has delegated its responsibilities the Depositary. There is a monitoring and reporting process to for administrative services of the Company and its Funds to review these controls, which has been in place throughout the State Street Bank Luxembourg S.C.A (“the Fund Accountant”). period under review and up to the date of this report, carried The Fund Accountant has responsibility for the administration out by BIM UK’s corporate audit department. of the Company’s affairs including the calculation of the net BIM UK’s internal audit and operational risk units report to the asset value and preparation of the financial statements of Board through the Management Company on a quarterly basis. the Company, subject to the overall supervision of the Directors The Management Company also receives a report from the and the Management Company. The Fund Accountant is a Fund Accountant and the Depositary on the internal controls subsidiary of State Street Bank & Trust Co. The Company has of the administrative and custodial operations of the Company. appointed State Street Bank Luxembourg S.C.A. as Depositary The Board recognises that these control systems can only of its assets, which has responsibility for safe-keeping of be designed to manage rather than eliminate the risk of such assets, pursuant to the regulations. The Depositary is a failure to achieve fund objectives, and to provide reasonable, subsidiary of State Street Bank & Trust Co. The Management but not absolute, assurance against material misstatement Company has delegated transfer agent and share registration or loss, and relies on the operating controls established by services to J.P. Morgan Bank Luxembourg S.A. the service providers.
[12] BlackRock Global Index Funds (BGIF) Directors’ Report continued
Financial Reporting funds. Mr Freeman has worked in the financial services The Company prepares its financial statements under industry for over 35 years and, prior to BlackRock, has held Luxembourg GAAP and on a going concern basis. senior management positions at Schroders, Rothschild Asset Management, Henderson Investors and GT Management Remuneration (now part of Invesco). Mr Freeman is a Chartered Accountant. The Company is an investment company and has no employees or executive Directors. No Director (past or Francine Keiser (Luxembourger): Ms Keiser is a former present) has any entitlement to a pension from the Company, Partner of Linklaters LLP and is now a consultant to the firm. and the Company has not awarded any share options or She has been a member of the Luxembourg Bar since 1989. long-term performance incentives. No element of Directors’ Ms Keiser is an experienced investment funds lawyer with remuneration is performance-related. Those Directors who wide expertise in all legal aspects of investment management, are also employees of the BlackRock group are not entitled in particular in the UCITS area. She serves as a Director to receive a Director’s fee. All other Directors are paid fees of the boards of flagship funds of several major fund which are submitted for approval by the shareholders at the promoters, including BlackRock Global Funds and BlackRock annual general meeting and are disclosed on page 146. Strategic Funds. The Board believes that the level of remuneration for those Directors who take a fee properly reflects the time commitment Dr. Martha Dagmar Boeckenfeld (Swiss & German): and responsibilities of their roles. The maximum amount Ms Boeckenfeld has 20 years of Financial Services experience of remuneration payable to the Directors is approved by (insurance, banking and asset management) in Non-Executive the Board. Board positions and Senior Executive roles including Chief Executive Officer with Kleinwort Benson Bank (UK and Channel Communication with Shareholders Islands) and Chief Financial Officer of BHF Kleinwort Benson The Board is responsible for convening the annual general Group, a publicly listed Company, respectively. She has meeting and all other general meetings of the Company. successfully managed turn-around situations, whilst reducing Shareholders have the opportunity to, and are encouraged legal liabilities, generating growth and operational efficiency to attend and vote at general meetings. Notice of general in life, non-life, reinsurance and banking. Ms Boeckenfeld was meetings is issued in accordance with the Articles of integral to the digital transformation of Kleinwort Benson Bank Incorporation of the Company and notice of the annual general in recent years. Ms Boeckenfeld has demonstrated breadth meeting is sent out at least 8 days in advance of the meeting. of international operational experience exercised in different All substantive matters put before a general meeting are dealt regulatory functions and corporate finance activities including with by way of separate resolution. Proxy voting figures are merger in pre-and post-merger management in Asia and noted by the chairman of the general meeting. Europe. Since 2016 she is engaged as Independent Non- The proceedings of general meetings are governed by the Executive Director on the Board of Scope (Chair), Berlin; Articles of Incorporation of the Company. Unicredit, Milano and Generali, Switzerland.
The Board has reporting procedures in place such that Geoffrey D. Radcliffe (British nationality, Luxembourg client communication with BIM UK is reported to the Board, resident): Mr Radcliffe is a Managing Director of BlackRock including shareholder complaints. In addition to this BlackRock and is based in Luxembourg. He is a member of the Investment Company (UK) Limited has been appointed as BlackRock Business Operations Global Fund Services team Principal Distributor and is tasked with actively managing and heads Fund Administration for EMEA, with responsibilities the relationship between the Company and its shareholders. extending into Asia Pacific. Mr Radcliffe is a Fellow of The Institute of Chartered Accountants in England and Wales and Directors’ Biographies an Associate of The Chartered Institute of Bankers. He has 30 years of banking, accounting and fund experience in the Paul Freeman (Chairman) (British): Mr Freeman currently Isle of Man, London, Bermuda and Luxembourg. Mr Radcliffe serves as a director on the boards of a number of BlackRock joined the BlackRock Group in 1998. He serves as a Director Group companies and investment funds. He was until on the Board of the Management Company and also on the December 2015 a Managing Director of BlackRock, which Boards of a number of BlackRock funds. He has been a he had joined in August 2005 (which then was Merrill Lynch Member of the Board of Directors of ALFI (Luxembourg Investment Managers - “MLIM”). Up until July 2011 Mr Freeman Fund Industry Association) since 2013. was the Head of Product Development and Range Management for the EMEA region with responsibility for the development Barry O’Dwyer (Irish): Mr O’Dwyer is a Managing Director and ongoing product management of all funds domiciled in at BlackRock. He is the Head of Fund Governance for EMEA and distributed on a cross-border basis by BlackRock. BlackRock’s European open-ended fund ranges and is the Between July 2011 and December 2015 Mr Freeman worked Chief Operating Officer for BlackRock’s Irish business. He closely with BlackRock’s Government affairs team and serves as a director on the boards of a number of BlackRock served on various internal governance committees and on corporate, fund, and management companies domiciled the boards of a number of group subsidiaries and managed in Ireland, Luxembourg, Switzerland and Germany and
Annual Report and Audited Accounts [13] Directors’ Report continued
on the board of BlackRock’s UK Life company. He was Michael Gruener (German): Mr Gruener is a Managing Director the chairman of the Irish Funds Industry Association 2014- of BlackRock and is Head of Europe, Middle East and Africa 2015, is a board director of Financial Services Ireland and Retail business. He is a member of BlackRockʼs European is a member of An Taoiseach’s Financial Services Industry Executive Committee and the BlackRock European Steer Co. Advisory Committee. He joined BlackRock Advisors (UK) Mr. Gruener joined BlackRock in January 2012 as the Head of Limited in 1999 as head of risk management and moved to BlackRockʼs German, Austria & Eastern Europe iShares sales his present role in 2006. Prior to joining BlackRock Advisors team and became Head of the iShares Wealth and Retail client (UK) Limited, Mr O’Dwyer worked as risk manager at segment in EMEA in January 2014. In 2015 he became the Gartmore Investment Management and at HypoVereinsbank Co-Head of the EMEA Sales for iShares. Michael began his and National Westminster Bank. Mr O’Dwyer graduated from current role in July 2017. Mr. Gruener has more than 20 years Trinity College Dublin with a degree in Business Studies and of experience in the financial services industry. Prior to joining Economics in 1991. He holds a Chartered Association of BlackRock, Michael worked for 10 years at Goldman Sachs Certified Accountants qualification and an MBA from London Asset Management in multiple distribution roles in Chicago, City University Business School. London and Frankfurt. Mr. Gruener holds a German Banker qualification and a BA honors degree from the Cambridge Robert Hayes (British): Mr Hayes is a Managing Director Polytechnic University in Finance and Controlling. He also holds of BlackRock and is Head of Investment Oversight for the a degree from the Berlin School of Economics in Business BlackRock EMEA Retail business. The team is responsible Administration and Finance. for establishing and reviewing investment expectations for all BlackRock’s Retail Funds in the EMEA region and is also responsible for BlackRock’s relationships with mutual fund rating agencies. He also chairs the Investment Committee and serves as a Director of BlackRock Life Limited. Mr Hayes’ service with the firm dates back to 2001, including his years with MLIM, which merged with BlackRock in 2006. At MLIM he was Head of Strategic Advice and immediately before his current role he was Head of Client Strategy in BlackRock’s Client Solutions business. Prior to joining the firm, Mr Hayes was a Partner with Watson Wyatt Partners, as an investment consultant for large pension funds and institutional investors. Earlier in his career, Mr Hayes was a UK Equity Investment Manager at ICI Pension Fund and Head of Institutional Investment at M&G Investment Management. Mr Hayes earned a BSc degree in Mathematics from Southampton University in 1983.
[14] BlackRock Global Index Funds (BGIF) Report on Remuneration
Report on Remuneration
The below disclosures are made in respect of the remuneration The MDCC directly retains its own independent compensation policies of the BlackRock group (“BlackRock”), as they apply to consultant, Semler Brossy Consulting Group LLC, who has no BlackRock (Luxembourg) S.A. (the “Management Company”). relationship with BlackRock, Inc. or the BlackRock, Inc. Board The disclosures are made in accordance with the Directive that would interfere with its ability to provide independent 2009/65/EC on the coordination of laws, regulations and advice to the MDCC on compensation matters. administrative provisions relating to undertakings for collective investment in transferable securities (“UCITS”), as amended, The BlackRock, Inc. Board has determined that all of the including in particular by Directive 2014/91/EU of the European members of the MDCC are “independent” within the meaning Parliament and of the council of 23 July 2014, (the “Directive”), of the listing standards of the New York Stock Exchange and the “Guidelines on sound remuneration policies under (NYSE), which requires each meet a “non-employee the UCITS Directive and AIFMD” issued by the European director” standard. Securities and Markets Authority. The MDCC charter is available on BlackRock, Inc.’s website BlackRock’s UCITS Remuneration Policy (the “UCITS (www.blackrock.com). Remuneration Policy”) will apply to the European Economic Through its regular reviews, the MDCC continues to be Area (“EEA”) entities within the BlackRock group authorised satisfied with the principles of BlackRock’s compensation as a manager of UCITS funds in accordance with the Directive, policy and approach. and will ensure compliance with the requirements of Article 14b of the Directive. (b) The Manager’s Board The Manager’s Board has the task of supervising and The Management Company has adopted the UCITS providing oversight of the UCITS Remuneration Policy Remuneration Policy, a summary of which is set out below. as it applies to the Management Company and its Remuneration Governance Identified Staff. BlackRock’s remuneration governance in EMEA operates The Manager’s Board (through independent review by as a tiered structure which includes: (a) the Management the relevant control functions) remains satisfied with the Development and Compensation Committee (“MDCC”) implementation of the UCITS Remuneration Policy as it (which is the global, independent remuneration committee applies to the Management Company and its Identified Staff. for BlackRock, Inc. and all of its subsidiaries, including the Management Company); and (b) the Manager’s Board Decision-making process of Directors (the “Manager’s Board”). These bodies are Remuneration decisions for employees are made once annually responsible for the determination of BlackRock’s remuneration in January following the end of the performance year. This policies. timing allows full-year financial results to be considered along with other non-financial goals and objectives. Although the (a) MDCC framework for remuneration decision-making is tied to financial The MDCC’s purposes include: performance, significant discretion is used to determine individual variable remuneration based on achievement of providing oversight of: strategic and operating results and other considerations such BlackRock’s executive compensation programmes; as management and leadership capabilities. BlackRock’s employee benefit plans; and such other compensation plans as may be established No set formulas are established and no fixed benchmarks are by BlackRock from time to time for which the MDCC used in determining annual incentive awards. In determining is deemed as administrator; specific individual remuneration amounts, a number of factors are considered including non-financial goals and objectives and reviewing and discussing the compensation discussion overall financial and investment performance. These results and analysis included in the BlackRock, Inc. annual proxy are viewed in the aggregate without any specific weighting, and statement with management and approving the MDCC’s there is no direct correlation between any particular performance report for inclusion in the proxy statement; measure and the resulting annual incentive award. The variable remuneration awarded to any individual(s) for a particular reviewing, assessing and making reports and performance year may also be zero. recommendations to the BlackRock, Inc. Board of Directors (the “BlackRock, Inc. Board”) as appropriate on BlackRock’s Annual incentive awards are paid from a bonus pool. talent development and succession planning, with the The size of the projected bonus pool, including cash and emphasis on performance and succession at the highest equity awards, is reviewed throughout the year by the MDCC management levels; and and the final total bonus pool is approved after year-end. As part of this review, the MDCC receives actual and projected in accordance with applicable UK and European regulations financial information over the course of the year as well as and guidance, to act as the Remuneration Committee final year-end information. The financial information that the for BlackRock’s EMEA regulated entities. MDCC receives and considers includes the current year
Annual Report and Audited Accounts [15] Report on Remuneration continued
projected income statement and other financial measures align the interests of senior employees with those compared with prior year results and the current year budget. of shareholders by awarding BlackRock Inc.’s stock The MDCC additionally reviews other metrics of BlackRock’s as a significant part of both annual and long-term financial performance (e.g., net inflows of AUM and investment incentive awards; performance) as well as information regarding market conditions and competitive compensation levels. control fixed costs by ensuring that compensation expense varies with profitability; The MDCC regularly considers management’s recommendation as to the percentage of preincentive link a significant portion of an employee’s total compensation operating income that will be accrued and reflected as to the financial and operational performance of the business a compensation expense throughout the year for the cash as well as its common stock performance; portion of the total annual bonus pool (the “accrual rate”). The accrual rate of the cash portion of the total annual bonus discourage excessive risk-taking; and pool may be modified by the MDCC during the year based on its review of the financial information described above. ensure that client interests are not negatively impacted The MDCC does not apply any particular weighting or formula by remuneration awarded on a short-term, mid-term to the information it considers when determining the size of the and/or long-term basis. total bonus pool or the accruals made for the cash portion of the total bonus pool. Driving a high-performance culture is dependent on the ability to measure performance against objectives, values Following the end of the performance year, the MDCC and behaviours in a clear and consistent way. Management approves the final bonus pool amount. Company use a 5-point rating scale to provide an overall assessment of an employee’s performance, and employees As part of the year-end review process the Enterprise Risk also provide a self-evaluation. The overall, final rating is and Regulatory Compliance departments report to the MDCC reconciled during each employee’s performance appraisal. on any activities, incidents or events that warrant consideration Employees are assessed on the manner in which performance in making compensation decisions. is attained as well as the absolute performance itself. Individuals are not involved in setting their own remuneration. In keeping with the pay-for-performance philosophy, ratings are Control functions used to differentiate and reward individual performance – but Each of the control functions (Enterprise Risk, Legal & don’t pre-determine compensation outcomes. Compensation Compliance, and Internal Audit) has its own organisational decisions remain discretionary and are made as part of the structure which is independent of the business units. The head of year-end compensation process. each control function is either a member of the Global Executive Committee (“GEC”), the global management committee, or has When setting remuneration levels other factors are considered, a reporting obligation to the Board of Directors of BlackRock as well as individual performance, which may include: Group Limited, the parent company of all of BlackRock’s EMEA the performance of the Management Company, the funds regulated entities, including the Management Company. managed by the Management Company and/or the relevant Functional bonus pools are determined with reference to the functional department; performance of each individual function. The remuneration of factors relevant to an employee individually; relationships the senior members of control functions is directly overseen with clients and colleagues; teamwork; skills; any conduct by the MDCC. issues; and, subject to any applicable policy, the impact that Link between pay and performance any relevant leave of absence may have on contribution There is a clear and well-defined pay-for-performance to the business); philosophy and compensation programmes which are designed to meet the following key objectives as detailed below: the management of risk within the risk profiles appropriate for BlackRock’s clients; appropriately balance BlackRock’s financial results between shareholders and employees; strategic business needs, including intentions regarding retention; attract, retain and motivate employees capable of making significant contributions to the long-term success of the market intelligence; and business; criticality to business.
[16] BlackRock Global Index Funds (BGIF) Report on Remuneration continued
A primary product tool is risk management and, while employees The maximum number of shares that can be earned is 165% are compensated for strong performance in their management of the award in those situations where both metrics achieve of client assets, they are required to manage risk within the pre-determined financial targets. No shares will be earned risk profiles appropriate for their clients. Therefore, employees where the firm’s financial performance in both of the above are not rewarded for engaging in high-risk transactions outside metrics is below a pre-determined performance threshold. of established parameters. Remuneration practices do not These metrics have been selected as key measures of provide undue incentives for short-term planning or short-term shareholder value which endure across market cycles. financial rewards, do not reward unreasonable risk and provide a reasonable balance between the many and substantial risks A limited number of investment professionals have a portion inherent within the business of investment management, risk of their annual discretionary bonus (as described above) management and advisory services. awarded as deferred cash that notionally tracks investment in selected products managed by the employee. The intention BlackRock operates a total compensation model for of these awards is to align investment professionals with the remuneration which includes a base salary, which is investment returns of the products they manage through the contractual, and a discretionary bonus scheme. deferral of compensation into those products. Clients and external evaluators have increasingly viewed more favourably BlackRock operates an annual discretionary bonus scheme. those products where key investors have “skin in the game” Although all employees are eligible to be considered for a through significant personal investments. discretionary bonus, there is no contractual obligation to make any award to an employee under its discretionary bonus Identified Staff scheme. In exercising discretion to award a discretionary The UCITS Remuneration Policy sets out the process that bonus, the factors listed above (under the heading “Link will be applied to identify staff as Identified Staff, being between pay and performance”) may be taken into account categories of staff of the Management Company, including in addition to any other matters which become relevant to the senior management, risk takers, control functions and any exercise of discretion in the course of the performance year. employee receiving total remuneration that takes them into the same remuneration bracket as senior management and risk Discretionary bonus awards for all employees, including takers, whose professional activities have a material impact on executive officers, are subject to a guideline that determines the risk profiles of the Management Company or of the funds the portion paid in cash and the portion paid in BlackRock, Inc. it manages. stock and subject to additional vesting/clawback conditions. Stock awards are subject to further performance adjustment The list of Identified Staff will be subject to regular review, through variation in BlackRock, Inc.’s share price over the being formally reviewed in the event of, but not limited to: vesting period. As total annual compensation increases, a greater portion is deferred into stock. The MDCC adopted this organisational changes; approach in 2006 to substantially increase the retention value and shareholder alignment of the compensation package for new business initiatives; eligible employees, including the executive officers. The portion deferred into stock vests into three equal instalments over the changes in significant influence function lists; three years following grant. changes in role responsibilities; and Supplementary to the annual discretionary bonus as described above, equity awards from the “Partner Plan” and “Targeted revised regulatory direction. Equity Award Plan” are made to select senior leaders to provide greater linkage with future business results. The long- Quantitative Remuneration Disclosure (for Ireland, term incentive awards have been established individually to the UK and Luxembourg) provide meaningful incentive for continued performance over The Management Company is required under UCITS to make a multi-year period recognising the scope of the individual’s quantitative disclosures of remuneration. These disclosures role, business expertise and leadership skills. are made in line with BlackRock’s interpretation of currently available regulatory guidance on quantitative remuneration Selected senior leaders are eligible to receive performance- disclosures. As market or regulatory practice develops adjusted equity-based awards from the “BlackRock BlackRock may consider it appropriate to make changes to Performance Incentive Plan” (“BPIP”). Awards made from the way in which quantitative remuneration disclosures are the BPIP have a three-year performance period based calculated. Where such changes are made, this may result 1 on a measurement of As Adjusted Operating Margin and in disclosures in relation to a fund not being comparable to 2 Organic Revenue Growth . Determination of pay-out will the disclosures made in the prior year, or in relation to other be made based on the firm’s achievement relative to target BlackRock fund disclosures in that same year. financial results at the conclusion of the performance period.
1 As Adjusted Operating Margin: As reported in BlackRock’s external filings, reflects adjusted Operating Income divided by Total Revenue net of distribution and servicing expenses and amortisation of deferred sales commissions. 2 Organic Revenue Growth: Equal to net new base fees plus net new Aladdin revenue generated in the year (in dollars).
Annual Report and Audited Accounts [17] Report on Remuneration continued
Disclosures are provided in relation to (a) the staff of the the figures are not representative of any individual’s actual Management Company; (b) staff who are senior management; remuneration or their remuneration structure. and (c) staff who have the ability to materially affect the risk profile of the Fund. The amount of the total remuneration awarded by the Management Company to its staff which has been attributed All individuals included in the aggregated figures disclosed to the Management Company’s UCITS-related business are rewarded in line with BlackRock’s remuneration policy in respect of the Management Company’s financial year for their responsibilities across the relevant BlackRock ending 31 December 2018 is USD 88.6 million. This figure business area. As all individuals have a number of areas is comprised of fixed remuneration of USD 4.6 million and of responsibilities, only the portion of remuneration for those variable remuneration of USD 84.0 million. There were a total individuals’ services attributable to the Fund is included in of 102 beneficiaries of the remuneration described above. the aggregate figures disclosed. The amount of the aggregate remuneration awarded by Members of staff and senior management of the Management the Management Company, which has been attributed Company typically provide both UCITS and non-UCITS related to the Management Company’s UCITS-related business services in respect of multiple funds, clients and functions in respect of the Management Company’s financial year of the Management Company and across the broader ending 31 December 2018, to its senior management was BlackRock group. Therefore, the figures disclosed are a USD 0.4 million, and to other members of its staff whose sum of each individual’s portion of remuneration attributable actions have a material impact on the risk profile of the to the Management Company according to an objective Management Company’s UCITS-related business was USD apportionment methodology which acknowledges the multiple- 88.2 million. service nature of the Management Company. Accordingly
[18] BlackRock Global Index Funds (BGIF) Statement of Net Assets
Statement of Net Assets as at 31 March 2019
iShares BlackRock iShares Emerging iShares iShares Global Emerging Markets iShares Euro Euro Index Markets Government Europe Aggregate Government Funds Equity Index Bond Index Equity Index Bond Index Bond Index Combined Fund (LU) Fund (LU) Fund (LU) Fund (LU) Fund (LU) Note USD USD USD EUR EUR EUR
Assets Securities portfolio at cost 6,720,407,662 461,156,529 2,217,933,406 306,735,979 670,888,776 486,141,981 Unrealised appreciation 531,541,061 43,230,414 4,268,994 34,113,545 31,726,976 21,392,917
Securities portfolio at market value 2(a) 7,251,948,723 504,386,943 2,222,202,400 340,849,524 702,615,752 507,534,898 Cash at bank 2(a) 75,887,907 610,256 17,027,472 858,590 3,356,564 2,438,708 Due from broker 13 2,339,061 101,891 – 94,455 – – Interest and dividends receivable 2(a) 55,234,990 1,347,961 29,261,840 1,988,283 6,126,980 5,039,871 Receivable for investments sold 2(a) 10,036,742 218,541 5,025,782 – – – Receivable for Fund shares subscribed 2(a) 23,375,160 725,592 2,453,897 240,581 2,363,218 506,729 Net unrealised appreciation on: Futures contracts 2(d) 405,591 – – 21,786 – – Other assets 2(a) 807,999 14,949 58,975 13,227 211,064 2,214
Total assets 7,420,036,173 507,406,133 2,276,030,366 344,066,446 714,673,578 515,522,420
Liabilities Income distribution payable 2(a) 12,168,380 162,603 3,634,787 337,878 2,702,131 31,642 Payable for investments purchased 2(a) 15,641,744 220 7,202,157 – 549,698 – Payable for Fund shares redeemed 2(a) 12,593,280 1,031,503 271,849 462,097 342,002 329,089 Net unrealised depreciation on: Futures contracts 2(d) 35,820 11,498 – – – – Open forward foreign exchange transactions 2(d) 759,625 – 759,625 – – – Accrued expenses and other liabilities 2(a),4,5,6 2,198,969 601,510 395,875 143,167 103,264 124,805
Total liabilities 43,397,818 1,807,334 12,264,293 943,142 3,697,095 485,536
Total net assets 7,376,638,355 505,598,799 2,263,766,073 343,123,304 710,976,483 515,036,884
Approved on behalf of the Board of the Company
Francine Keiser Barry O’Dwyer
Director Director
Date 25 July 2019 Date 25 July 2019
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [19] Statement of Net Assets as at 31 March 2019 continued
iShares iShares Global iShares iShares Pacific iShares Government Japan North America ex Japan World Bond Index Equity Index Equity Index Equity Index Equity Index Fund (LU) Fund (LU) Fund (LU) Fund (LU) Fund (LU) Note USD USD USD USD USD
Assets Securities portfolio at cost 505,385,594 157,964,575 456,348,862 318,217,593 959,956,577 Unrealised appreciation 4,208,563 1,416,268 187,033,902 21,061,192 172,380,360
Securities portfolio at market value 2(a) 509,594,157 159,380,843 643,382,764 339,278,785 1,132,336,937 Cash at bank 2(a) 2,898,231 3,704,268 5,236,759 2,604,575 36,335,721 Due from broker 13 – 68,968 255,971 270,983 1,535,199 Interest and dividends receivable 2(a) 3,381,894 1,511,138 477,630 1,703,962 2,780,634 Receivable for investments sold 2(a) – 101,568 – 4,676,293 14,558 Receivable for Fund shares subscribed 2(a) 333,276 4,321,391 8,685,466 901,325 2,461,867 Net unrealised appreciation on: Futures contracts 2(d) – 21,377 – 6,887 352,867 Other assets 2(a) 2,886 4,606 18,904 7,265 446,105
Total assets 516,210,444 169,114,159 658,057,494 349,450,075 1,176,263,888
Liabilities Income distribution payable 2(a) 21,588 38,216 129,494 37,921 4,695,074 Payable for investments purchased 2(a) – 101,568 7,623,718 82,349 14,558 Payable for Fund shares redeemed 2(a) 127,333 2,470,743 1,933,461 4,665,346 820,758 Net unrealised depreciation on: Futures contracts 2(d) – – 24,322 – – Open forward foreign exchange transactions 2(d) – – – – – Accrued expenses and other liabilities 2(a),4,5,6 104,761 83,252 146,074 167,501 283,191
Total liabilities 253,682 2,693,779 9,857,069 4,953,117 5,813,581
Total net assets 515,956,762 166,420,380 648,200,425 344,496,958 1,170,450,307
The notes on pages 143 to 149 form an integral part of these financial statements.
[20] BlackRock Global Index Funds (BGIF) Three Year Summary of Net Asset Values
Three Year Summary of Net Asset Values as at 31 March 2019
Currency 31 March 2019 31 March 2018 31 March 2017
iShares Emerging Markets Equity Index Fund (LU) Total net assets USD 505,598,799 522,964,907 436,821,114 Net asset value per: A Class non-distributing share USD 122.02 132.21 107.00 D Class non-distributing share(1) USD 93.81 – – D Class non-distributing share EUR(1) EUR 99.92 – – F Class non-distributing share USD 126.73 136.91 110.47 F Class non-distributing share EUR EUR 112.82 111.07 103.41 N Class distributing share USD 141.83 156.41 128.45 N Class distributing share EUR EUR 124.47 125.08 118.49 N Class non-distributing share USD 124.66 134.63 108.59 X Class non-distributing share USD 126.33 136.17 109.62 X Class non-distributing share EUR EUR 112.27 110.26 102.39
iShares Emerging Markets Government Bond Index Fund (LU) Total net assets USD 2,263,766,073 2,441,037,335 1,875,238,033 Net asset value per: A Class non-distributing share USD 127.55 122.80 118.31 A Class non-distributing share EUR hedged EUR 108.20 107.42 105.83 D Class non-distributing share(1) USD 107.76 – – D Class non-distributing share EUR(1) EUR 114.01 – – F Class non-distributing share USD 106.29 102.09 – I Class distributing share USD 105.05 106.05 106.91 I Class non-distributing share USD 126.70 121.64 116.87 I Class non-distributing share EUR hedged EUR 109.04 107.96 106.07 I Class non-distributing share GBP hedged GBP 111.16 108.89 106.17 N Class distributing share EUR EUR 111.85 102.88 119.65 X Class non-distributing share USD 131.19 125.70 120.53 X Class non-distributing share EUR EUR 115.57 100.89 111.58 X Class non-distributing share EUR hedged EUR 109.75 108.46 106.34 X Class non-distributing share SEK hedged SEK 1,024.70 1,013.53 995.17
iShares Europe Equity Index Fund (LU) Total net assets EUR 343,123,304 381,370,502 428,391,758 Net asset value per: A Class non-distributing share EUR 162.11 154.53 154.43 D Class non-distributing share EUR 154.85 147.17 146.64 D Class non-distributing share USD USD 96.10 100.29 – F Class non-distributing share EUR 165.39 157.19 156.63 N Class distributing share EUR 138.18 135.31 139.17 N Class distributing share USD USD 157.60 169.38 151.04 N Class non-distributing share EUR 165.71 157.46 156.84 X Class non-distributing share EUR 167.35 158.77 157.92 X Class non-distributing share USD USD 117.80 122.68 105.80
iShares Euro Aggregate Bond Index Fund (LU) Total net assets EUR 710,976,483 623,970,559 462,209,234 Net asset value per: A Class non-distributing share EUR 117.14 115.20 113.28 D Class non-distributing share(1) EUR 102.40 – – N Class distributing share EUR 110.40 109.28 108.21 X Class non-distributing share EUR 120.48 117.91 115.40
iShares Euro Government Bond Index Fund (LU) Total net assets EUR 515,036,884 425,042,211 436,468,280 Net asset value per: A Class non-distributing share EUR 125.28 123.39 120.41 D Class non-distributing share EUR 124.65 122.40 119.09 F Class non-distributing share EUR 127.70 125.40 122.01 N Class distributing share EUR 117.45 116.29 114.15 N Class non-distributing share EUR 127.97 125.62 122.19 X Class non-distributing share EUR 129.23 126.67 123.03
(1) New share class launch, see Appendix I for further details.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [21] Three Year Summary of Net Asset Values as at 31 March 2019 continued
Currency 31 March 2019 31 March 2018 31 March 2017
iShares Global Government Bond Index Fund (LU) Total net assets USD 515,956,762 363,155,185 95,013,157 Net asset value per: A Class non-distributing share USD 97.15 99.27 91.96 D Class non-distributing share(1) USD 100.64 – – D Class non-distributing share EUR EUR 118.36 109.95 117.16 F Class non-distributing share USD 99.09 100.95 93.23 N Class distributing share EUR EUR 104.41 98.05 105.34 N Class non-distributing share USD 99.38 101.14 93.36 N Class non-distributing share EUR EUR 88.33 82.01 87.29 X Class non-distributing share USD 100.20 101.90 93.94 X Class non-distributing share EUR EUR 101.75 94.28 100.26
iShares Japan Equity Index Fund (LU) Total net assets USD 166,420,380 185,082,338 150,842,636 Net asset value per: A Class non-distributing share USD 158.02 172.49 146.01 D Class non-distributing share(1) USD 91.18 – – D Class non-distributing share EUR(1) EUR 96.43 – – F Class non-distributing share USD 161.24 175.46 148.09 N Class distributing share USD 189.08 209.44 179.49 N Class distributing share EUR EUR 168.30 169.85 167.89 N Class non-distributing share USD 161.54 175.75 148.28 X Class non-distributing share USD 163.09 177.16 149.25 X Class non-distributing share EUR EUR 145.12 143.64 139.60
iShares North America Equity Index Fund (LU) Total net assets USD 648,200,425 597,069,220 783,949,640 Net asset value per: A Class non-distributing share USD 202.59 186.04 167.85 D Class non-distributing share USD 109.69 100.44 – D Class non-distributing share EUR(1) EUR 114.49 – – F Class non-distributing share USD 206.70 189.24 170.23 N Class distributing share(2) USD – 230.71 209.97 N Class distributing share EUR EUR 220.10 185.90 195.39 N Class non-distributing share USD 207.11 189.56 170.47 X Class non-distributing share USD 209.09 191.09 171.59 X Class non-distributing share EUR EUR 186.06 154.93 160.47
iShares Pacific ex Japan Equity Index Fund (LU) Total net assets USD 344,496,958 353,802,793 309,193,252 Net asset value per: A Class non-distributing UK reporting fund share USD 131.41 126.40 117.32 D Class non-distributing share(1) USD 101.17 – – D Class non-distributing share EUR(1) EUR 107.00 – – F Class non-distributing UK reporting fund share USD 134.11 128.62 119.03 N Class distributing share USD 136.10 135.95 130.50 N Class distributing share EUR EUR 119.91 108.99 120.84 N Class non-distributing share USD 134.35 128.80 119.16 X Class non-distributing share USD 135.63 129.84 119.94 X Class non-distributing share EUR EUR 120.65 105.12 112.18
iShares World Equity Index Fund (LU) Total net assets USD 1,170,450,307 939,915,969 1,147,314,195 Net asset value per: A Class non-distributing share USD 176.92 170.17 151.55 D Class non-distributing share(1) USD 102.53 – – D Class non-distributing share EUR EUR 200.51 175.30 179.59 F Class non-distributing share USD 180.48 173.07 153.68 F Class non-distributing share EUR EUR 160.62 140.39 143.86 F Class non-distributing share GBP GBP 138.83 123.11 123.27 N Class distributing share EUR EUR 182.73 162.54 169.37 N Class non-distributing share(2) USD – 173.61 153.94 N Class non-distributing share EUR EUR 205.08 179.02 183.21 X Class non-distributing share USD 182.64 174.82 154.96 X Class non-distributing share EUR EUR 162.48 141.71 144.92
(1) New share class launch, see Appendix I for further details. (2) Share class closed, see Appendix I for further details.
The notes on pages 143 to 149 form an integral part of these financial statements.
[22] BlackRock Global Index Funds (BGIF) Statement of Operations and Changes in Net Assets
Statement of Operations and Changes in Net Assets for the year ended 31 March 2019
iShares iShares Emerging BlackRock Emerging Markets iShares Global Markets Government Europe Index Funds Equity Index Bond Index Equity Index Note Combined Fund (LU) Fund (LU) Fund (LU) USD USD USD EUR
Net assets at the beginning of the year 7,165,668,871 522,964,907 2,441,037,335 381,370,502 Income Bank interest 2(c) 185,457 83,498 50,952 – Bond interest 2(c) 132,199,423 – 111,579,984 – Dividends, net of withholding taxes 2(c) 75,381,844 11,796,260 – 12,025,349 Securities lending 2(c),11 1,927,162 162,550 789,779 182,565 Other income 54,696 – – –
Total income 209,748,582 12,042,308 112,420,715 12,207,914
Expenses Bank interest 2(c) 173,271 – – 25,325 Administration fees 5 2,536,566 245,223 645,304 140,704 Depositary fees 2(i),6 2,437,671 519,426 368,845 219,081 Management fees 4 6,803,025 1,186,487 1,862,803 262,037 Other charges 20,269 – – 13,246
Total expenses before reimbursement 11,970,802 1,951,136 2,876,952 660,393
Reimbursement of expenses 14 155,721 – – –
Total expenses after reimbursement 11,815,081 1,951,136 2,876,952 660,393
Net investment income/(deficit) 197,933,501 10,091,172 109,543,763 11,547,521 Net realised gain/(loss) on: Investments 2(a),2(b) 23,177,438 (2,211,766) (34,165,086) 11,317,171 Futures contracts 2(d) 172,406 (1,456,829) – 314,910 Foreign currencies and forward foreign exchange transactions 2(d),2(e),2(j) (114,649,842) (2,593,783) (98,209,485) (2,240,871)
Net realised gain/(loss) for the year (91,299,998) (6,262,378) (132,374,571) 9,391,210
Net change in unrealised appreciation/(depreciation) on: Investments 2(a) (15,565,793) (41,098,707) (2,044,404) (1,498,627) Futures contracts 2(d) 1,691,185 230,467 – 9,494 Foreign currencies and forward foreign exchange transactions 2(d),2(e),2(j) 794,239 (287,136) 1,241,128 2,147
Net change in unrealised appreciation/(depreciation) for the year (13,080,369) (41,155,376) (803,276) (1,486,986)
Increase/(decrease) in net assets as a result of operations 93,553,134 (37,326,582) (23,634,084) 19,451,745
Movements in share capital Net receipts as a result of issue of shares 3,140,472,340 168,771,008 1,070,721,856 111,566,566 Net payments as a result of repurchase of shares (2,836,660,108) (148,182,349) (1,217,537,422) (168,258,794)
Increase/(decrease) in net assets as a result of movements in share capital 303,812,232 20,588,659 (146,815,566) (56,692,228)
Dividends declared 10 (24,890,608) (628,185) (6,821,612) (1,006,715) Foreign exchange adjustment 2(f) (161,505,274)* – – –
Net assets at the end of the year 7,376,638,355 505,598,799 2,263,766,073 343,123,304
* The combined figures have been calculated using the average exchange rates throughout the year. The resulting Foreign exchange adjustment of USD (161,505,274) represents the movement in exchange rates between 31 March 2018 and 31 March 2019. This is a notional amount, which has no impact on the Net Assets of the individual Funds.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [23] Statement of Operations and Changes in Net Assets for the year ended 31 March 2019 continued
iShares iShares iShares Euro Euro Global iShares Aggregate Government Government Japan Bond Index Bond Index Bond Index Equity Index Note Fund (LU) Fund (LU) Fund (LU) Fund (LU) EUR EUR USD USD
Net assets at the beginning of the year 623,970,559 425,042,211 363,155,185 185,082,338 Income Bank interest 2(c) – – – – Bond interest 2(c) 7,648,121 4,547,199 6,502,851 – Dividends, net of withholding taxes 2(c) – – – 3,823,373 Securities lending 2(c),11 68,239 40,499 35,690 65,005 Other income – – – –
Total income 7,716,360 4,587,698 6,538,541 3,888,378
Expenses Bank interest 2(c) 20,378 5,129 103,552 10,879 Administration fees 5 195,253 146,738 207,236 79,006 Depositary fees 2(i),6 145,485 117,536 130,826 160,251 Management fees 4 232,119 365,841 377,479 195,614 Other charges – – – –
Total expenses before reimbursement 593,235 635,244 819,093 445,750
Reimbursement of expenses 14 105,201 – – –
Total expenses after reimbursement 488,034 635,244 819,093 445,750
Net investment income/(deficit) 7,228,326 3,952,454 5,719,448 3,442,628 Net realised gain/(loss) on: Investments 2(a),2(b) 1,155,295 2,279,030 (243,145) 8,449,468 Futures contracts 2(d) – – – 93,912 Foreign currencies and forward foreign exchange transactions 2(d),2(e),2(j) (27) – (674,103) (2,941,059)
Net realised gain/(loss) for the year 1,155,268 2,279,030 (917,248) 5,602,321
Net change in unrealised appreciation/(depreciation) on: Investments 2(a) 6,944,334 3,727,029 (9,315,629) (24,444,838) Futures contracts 2(d) – – – (23,460) Foreign currencies and forward foreign exchange transactions 2(d),2(e),2(j) – 1,006 (85,523) (15,211)
Net change in unrealised appreciation/(depreciation) for the year 6,944,334 3,728,035 (9,401,152) (24,483,509)
Increase/(decrease) in net assets as a result of operations 15,327,928 9,959,519 (4,598,952) (15,438,560)
Movements in share capital Net receipts as a result of issue of shares 216,665,892 247,076,087 301,893,799 212,228,095 Net payments as a result of repurchase of shares (139,921,819) (166,986,099) (144,456,194) (215,377,256)
Increase/(decrease) in net assets as a result of movements in share capital 76,744,073 80,089,988 157,437,605 (3,149,161)
Dividends declared 10 (5,066,077) (54,834) (37,076) (74,237) Foreign exchange adjustment 2(f) – – – –
Net assets at the end of the year 710,976,483 515,036,884 515,956,762 166,420,380
The notes on pages 143 to 149 form an integral part of these financial statements.
[24] BlackRock Global Index Funds (BGIF) Statement of Operations and Changes in Net Assets for the year ended 31 March 2019 continued
iShares iShares North Pacific iShares America ex Japan World Equity Index Equity Index Equity Index Note Fund (LU) Fund (LU) Fund (LU) USD USD USD
Net assets at the beginning of the year 597,069,220 353,802,793 939,915,969 Income Bank interest 2(c) 25,132 5,763 20,112 Bond interest 2(c) – – – Dividends, net of withholding taxes 2(c) 9,093,470 15,439,342 21,309,560 Securities lending 2(c),11 135,590 93,179 308,174 Other income 42,608 – 12,088
Total income 9,296,800 15,538,284 21,649,934
Expenses Bank interest 2(c) – – – Administration fees 5 246,093 187,422 367,543 Depositary fees 2(i),6 163,237 220,419 316,614 Management fees 4 485,045 690,726 1,009,389 Other charges – – 4,935
Total expenses before reimbursement 894,375 1,098,567 1,698,481
Reimbursement of expenses 14 – – 33,946
Total expenses after reimbursement 894,375 1,098,567 1,664,535
Net investment income/(deficit) 8,402,425 14,439,717 19,985,399 Net realised gain/(loss) on: Investments 2(a),2(b) 21,512,854 6,689,795 6,069,851 Futures contracts 2(d) 820,990 (608,698) 958,510 Foreign currencies and forward foreign exchange transactions 2(d),2(e),2(j) (262,729) (6,078,237) (1,296,514)
Net realised gain/(loss) for the year 22,071,115 2,860 5,731,847
Net change in unrealised appreciation/(depreciation) on: Investments 2(a) 28,979,372 1,143,054 20,597,537 Futures contracts 2(d) 223,326 149,701 1,100,161 Foreign currencies and forward foreign exchange transactions 2(d),2(e),2(j) 544 46,102 (109,315)
Net change in unrealised appreciation/(depreciation) for the year 29,203,242 1,338,857 21,588,383
Increase/(decrease) in net assets as a result of operations 59,676,782 15,781,434 47,305,629
Movements in share capital Net receipts as a result of issue of shares 185,053,073 137,413,984 398,447,077 Net payments as a result of repurchase of shares (193,315,343) (162,413,585) (205,352,826)
Increase/(decrease) in net assets as a result of movements in share capital (8,262,270) (24,999,601) 193,094,251
Dividends declared 10 (283,307) (87,668) (9,865,542) Foreign exchange adjustment 2(f) – – –
Net assets at the end of the year 648,200,425 344,496,958 1,170,450,307
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [25] Statement of Changes in Shares Outstanding
Statement of Changes in Shares Outstanding as at 31 March 2019
Shares outstanding Shares outstanding at the beginning Shares Shares at the end of the year issued repurchased of the year iShares Emerging Markets Equity Index Fund (LU) A Class non-distributing share 1,161,710 395,956 418,842 1,138,824 D Class non-distributing share(1) – 50 – 50 D Class non-distributing share EUR(1) – 11,661 664 10,997 F Class non-distributing share 407,828 61,517 28,157 441,188 F Class non-distributing share EUR 746,254 640,092 340,940 1,045,406 N Class distributing share 39 – – 39 N Class distributing share EUR 170,519 61,094 13,454 218,159 N Class non-distributing share 229,157 82,617 161,040 150,734 X Class non-distributing share 29,057 1,292 27,999 2,350 X Class non-distributing share EUR 1,106,155 125,993 220,770 1,011,378
iShares Emerging Markets Government Bond Index Fund (LU) A Class non-distributing share 342,178 303,961 387,923 258,216 A Class non-distributing share EUR hedged 63,787 18,511 27,611 54,687 D Class non-distributing share(1) – 45,767 405 45,362 D Class non-distributing share EUR(1) – 60,990 338 60,652 F Class non-distributing share 50 – – 50 I Class distributing share 162,782 28,146 25,881 165,047 I Class non-distributing share 799,434 230,002 158,294 871,142 I Class non-distributing share EUR hedged 3,944,131 2,675,862 1,086,301 5,533,692 I Class non-distributing share GBP hedged 46,505 86,533 3,516 129,522 N Class distributing share EUR 599,219 434,281 29,772 1,003,728 X Class non-distributing share 10,883,225 4,018,100 7,907,883 6,993,442 X Class non-distributing share EUR 974,354 103,389 79,960 997,783 X Class non-distributing share EUR hedged 330,540 413,926 167,490 576,976 X Class non-distributing share SEK hedged 1,114,326 231,093 46,319 1,299,100
iShares Europe Equity Index Fund (LU) A Class non-distributing share 238,571 84,043 281,581 41,033 D Class non-distributing share 179,917 83,377 233,907 29,387 D Class non-distributing share USD 85,700 37,873 86,794 36,779 F Class non-distributing share 365,300 290,030 137,407 517,923 N Class distributing share 178,772 87,514 36,488 229,798 N Class distributing share USD 33 – – 33 N Class non-distributing share 77,972 18,254 32,271 63,955 X Class non-distributing share 1,212,123 127,117 303,561 1,035,679 X Class non-distributing share USD 248,188 13,715 377 261,526
iShares Euro Aggregate Bond Index Fund (LU) A Class non-distributing share 79,154 63,219 121,948 20,425 D Class non-distributing share(1) – 64,767 – 64,767 N Class distributing share 3,473,229 1,633,026 638,898 4,467,357 X Class non-distributing share 1,995,722 218,942 481,970 1,732,694
iShares Euro Government Bond Index Fund (LU) A Class non-distributing share 18,067 390,744 132,464 276,347 D Class non-distributing share 160,938 516,874 192,056 485,756 F Class non-distributing share 140,111 43,776 14,895 168,992 N Class distributing share 42,548 27,557 4,925 65,180 N Class non-distributing share 1,180,501 569,270 420,825 1,328,946 X Class non-distributing share 1,833,881 452,397 579,505 1,706,773
iShares Global Government Bond Index Fund (LU) A Class non-distributing share 10,976 59,877 19,245 51,608 D Class non-distributing share(1) – 5,129 5,079 50 D Class non-distributing share EUR 255,249 1,780,048 631,188 1,404,109 F Class non-distributing share 907,707 188,437 311,626 784,518 N Class distributing share EUR 25,190 10,006 5,558 29,638 N Class non-distributing share 50 – – 50 N Class non-distributing share EUR 144,718 2,736 145,114 2,340 X Class non-distributing share 525,912 77,032 147,259 455,685 X Class non-distributing share EUR 1,416,567 310,013 – 1,726,580
(1) New share class launch, see Appendix I for further details.
The notes on pages 143 to 149 form an integral part of these financial statements.
[26] BlackRock Global Index Funds (BGIF) Statement of Changes in Shares Outstanding as at 31 March 2019 continued
Shares outstanding Shares outstanding at the beginning Shares Shares at the end of the year issued repurchased of the year iShares Japan Equity Index Fund (LU) A Class non-distributing share 46,449 893,230 749,863 189,816 D Class non-distributing share(1) – 58,582 1,132 57,450 D Class non-distributing share EUR(1) – 23,446 – 23,446 F Class non-distributing share 269,110 97,521 102,735 263,896 N Class distributing share 30 – – 30 N Class distributing share EUR 22,513 2,422 4,203 20,732 N Class non-distributing share 37,515 – 4,859 32,656 X Class non-distributing share 82,534 6,409 3,141 85,802 X Class non-distributing share EUR 587,043 240,762 441,702 386,103
iShares North America Equity Index Fund (LU) A Class non-distributing share 66,361 55,819 24,015 98,165 D Class non-distributing share 86,824 1,853 83,711 4,966 D Class non-distributing share EUR(1) – 63,322 3,130 60,192 F Class non-distributing share 957,830 495,465 315,629 1,137,666 N Class distributing share(2) 1 – 1 – N Class distributing share EUR 61,790 45,840 29,298 78,332 N Class non-distributing share 276,303 57,157 44,310 289,150 X Class non-distributing share 565,129 27,816 83,567 509,378 X Class non-distributing share EUR 1,153,444 218,413 418,641 953,216
iShares Pacific ex Japan Equity Index Fund (LU) A Class non-distributing UK reporting fund share 759,133 400,759 521,769 638,123 D Class non-distributing share(1) – 50 – 50 D Class non-distributing share EUR(1) – 43 – 43 F Class non-distributing UK reporting fund share 1,460,323 297,809 360,846 1,397,286 N Class distributing share 38 – – 38 N Class distributing share EUR 16,263 2,413 2,546 16,130 N Class non-distributing share 58,388 26,733 14,155 70,966 X Class non-distributing share 104,354 16,723 24,453 96,624 X Class non-distributing share EUR 360,493 341,352 344,384 357,461
iShares World Equity Index Fund (LU) A Class non-distributing share 206,035 330,209 40,577 495,667 D Class non-distributing share(1) – 1,303 – 1,303 D Class non-distributing share EUR 81,798 162,416 84,079 160,135 F Class non-distributing share 436,589 339,072 82,839 692,822 F Class non-distributing share EUR 21,225 58,890 28,455 51,660 F Class non-distributing share GBP 122,918 13,779 13,325 123,372 N Class distributing share EUR 2,193,440 903,999 395,313 2,702,126 N Class non-distributing share(2) 2 – 2 – N Class non-distributing share EUR 23,344 4,377 5,973 21,748 X Class non-distributing share 1,538,245 194,269 374,583 1,357,931 X Class non-distributing share EUR 419,491 80,623 47,596 452,518
(1) New share class launch, see Appendix I for further details. (2) Share class closed, see Appendix I for further details.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [27] iShares Emerging Markets Equity Index Fund (LU)
Portfolio of Investments iShares Emerging Markets Equity Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
COMMON STOCKS (SHARES), RIGHTS & WARRANTS Brazil continued 20,961 Multiplan Empreendimentos Bermuda Imobiliarios SA 126,402 0.03 382,000 Alibaba Health Information 18,933 Natura Cosmeticos SA 216,345 0.04 Technology Ltd 441,371 0.09 34,883 Petrobras Distribuidora SA 212,953 0.04 1,120,000 Alibaba Pictures Group Ltd 198,320 0.04 283,657 Petroleo Brasileiro SA 2,273,944 0.45 496,000 Beijing Enterprises Water Group Ltd 306,448 0.06 374,127 Petroleo Brasileiro SA (Pref) 2,712,144 0.54 236,000 Brilliance China Automotive 11,463 Porto Seguro SA 156,342 0.03 Holdings Ltd* 233,897 0.05 19,694 Raia Drogasil SA 334,504 0.07 178,000 China Gas Holdings Ltd* 625,838 0.12 106,471 Rumo SA 524,302 0.10 96,000 China Oriental Group Co Ltd 60,291 0.01 22,722 Sul America SA (Unit) 169,441 0.03 86,000 China Resources Gas Group Ltd* 405,353 0.08 51,692 Suzano Papel e Celulose SA 611,769 0.12 200,371 COSCO SHIPPING Ports Ltd 216,453 0.04 40,896 Telefonica Brasil SA (Pref) 499,112 0.10 6,408 Credicorp Ltd 1,524,848 0.30 82,670 TIM Participacoes SA 252,023 0.05 1,171,000 GOME Retail Holdings Ltd* 108,896 0.02 36,549 Ultrapar Participacoes SA 448,029 0.09 126,000 Haier Electronics Group Co Ltd 365,964 0.07 304,028 Vale SA 3,995,246 0.79 2,184,000 HengTen Networks Group Ltd 66,216 0.01 81,900 WEG SA 380,818 0.08 318,000 Kunlun Energy Co Ltd* 332,180 0.07 100,500 Luye Pharma Group Ltd‘144A’ 87,826 0.02 36,400,052 7.20 157,000 Nine Dragons Paper Holdings Ltd 149,601 0.03 61,500 Shenzhen International Holdings Ltd 130,522 0.03 Cayman Islands 411,000 Sihuan Pharmaceutical Holdings 102,500 3SBio Inc‘144A’ 201,606 0.04 Group Ltd 99,478 0.02 1,001 51job Inc ADR 76,386 0.02 8,113 58.com Inc ADR* 515,825 0.10 5,353,502 1.06 66,000 AAC Technologies Holdings Inc* 390,538 0.08 150,000 Agile Group Holdings Ltd* 242,677 0.05 Brazil 5,000 Airtac International Group 64,730 0.01 447,425 Ambev SA 1,932,322 0.38 123,329 Alibaba Group Holding Ltd ADR* 22,100,557 4.37 30,800 Atacadao Distribuicao Comercio 96,000 ANTA Sports Products Ltd 653,049 0.13 e Industria Ltda 159,021 0.03 5,013 Autohome Inc ADR* 482,201 0.10 17,362 B2W Cia Digital 187,968 0.04 25,934 Baidu Inc ADR 4,245,136 0.84 194,341 B3 SA - Brasil Bolsa Balcao 1,604,319 0.32 1,808 Baozun Inc ADR 74,417 0.01 98,341 Banco Bradesco SA 941,280 0.19 104,315 Chailease Holding Co Ltd 426,459 0.08 322,134 Banco Bradesco SA (Pref) 3,514,009 0.70 159,000 China Conch Venture Holdings Ltd* 569,163 0.11 83,744 Banco do Brasil SA 1,051,273 0.21 80,000 China Ding Yi Feng Holdings Ltd* 235,416 0.05 37,864 Banco Santander Brasil SA (Unit) 424,506 0.08 248,000 China Evergrande Group* 824,566 0.16 70,912 BB Seguridade Participacoes SA 479,667 0.10 238,000 China First Capital Group Ltd 125,822 0.03 81,143 BR Malls Participacoes SA 260,277 0.05 183,500 China Hongqiao Group Ltd 138,152 0.03 15,727 Braskem SA (Pref) 207,557 0.04 16,000 China Literature Ltd‘144A’* 74,905 0.01 45,616 BRF SA 267,823 0.05 126,000 China Medical System Holdings Ltd 122,149 0.02 122,778 CCR SA 371,143 0.07 268,000 China Mengniu Dairy Co Ltd* 996,898 0.20 16,492 Centrais Eletricas Brasileiras SA 153,876 0.03 224,000 China Resources Cement 21,950 Centrais Eletricas Brasileiras SA Holdings Ltd 231,135 0.05 (Pref) 212,518 0.04 270,483 China Resources Land Ltd 1,212,874 0.24 15,405 Cia Brasileira de Distribuicao (Pref) 359,494 0.07 202,750 China State Construction 28,377 Cia de Saneamento Basico do International Holdings Ltd* 189,837 0.04 Estado de Sao Paulo 306,275 0.06 159,600 China Zhongwang Holdings Ltd 87,018 0.02 91,714 Cia Energetica de Minas Gerais 296,000 CIFI Holdings Group Co Ltd 224,358 0.04 (Pref) 326,428 0.06 782,200 Country Garden Holdings Co Ltd* 1,221,635 0.24 62,928 Cia Siderurgica Nacional SA 267,088 0.05 88,000 Country Garden Services 123,848 Cielo SA 305,413 0.06 Holdings Co Ltd* 163,894 0.03 12,378 Cosan SA 136,265 0.03 36,678 Ctrip.com International Ltd ADR 1,609,064 0.32 62,023 Embraer SA 295,874 0.06 180,000 Dali Foods Group Co Ltd‘144A’* 134,600 0.03 17,051 Engie Brasil Energia SA 188,977 0.04 72,000 ENN Energy Holdings Ltd* 696,157 0.14 17,563 Equatorial Energia SA 364,875 0.07 435,000 Fullshare Holdings Ltd* 58,185 0.01 96,711 Gerdau SA (Pref) 377,220 0.07 156,000 Future Land Development 29,161 Hypera SA 195,457 0.04 Holdings Ltd 193,163 0.04 11,101 IRB Brasil Resseguros S/A 258,884 0.05 2,531 GDS Holdings Ltd ADR 88,762 0.02 463,432 Itau Unibanco Holding SA (Pref) 4,057,609 0.80 468,000 Geely Automobile Holdings Ltd* 894,273 0.18 431,174 Itausa - Investimentos Itau SA (Pref) 1,332,153 0.26 58,000 Genscript Biotech Corp 109,499 0.02 79,100 JBS SA 324,767 0.06 76,000 Greentown China Holdings Ltd 75,904 0.02 68,735 Klabin SA (Unit) 304,258 0.06 82,000 Greentown Service Group Co Ltd 72,704 0.01 143,971 Kroton Educacional SA 386,809 0.08 69,000 Haitian International Holdings Ltd 156,811 0.03 55,755 Localiza Rent a Car SA 466,276 0.09 75,500 Hengan International Group Co Ltd 661,711 0.13 69,625 Lojas Americanas SA (Pref) 288,723 0.06 10,501 Huazhu Group Ltd ADR 437,314 0.09 68,252 Lojas Renner SA 751,009 0.15 2,146 Hutchison China MediTech Ltd ADR 64,852 0.01 8,925 M Dias Branco SA 96,305 0.02 8,596 iQIYI Inc ADR 200,029 0.04 7,438 Magazine Luiza SA 328,960 0.07 67,964 JD.com Inc ADR* 2,036,201 0.40
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[28] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Equity Index Fund (LU)
iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Cayman Islands continued Chile continued 64,000 Jiayuan International Group Ltd 33,835 0.01 52,908 Enel Americas SA ADR* 473,527 0.09 241,000 Kaisa Group Holdings Ltd* 109,295 0.02 51,982 Enel Chile SA ADR 266,148 0.05 66,500 Kingboard Holdings Ltd 235,928 0.05 16,020,550 Itau CorpBanca 138,945 0.03 94,500 Kingboard Laminates Holdings Ltd 99,316 0.02 30,454 Latam Airlines Group SA 320,057 0.06 224,000 Kingdee International Software 64,449 SACI Falabella 481,907 0.10 Group Co Ltd 259,100 0.05 1,788 Sociedad Quimica y Minera de 57,000 Kingsoft Corp Ltd* 144,933 0.03 Chile SA ‘B’ (Pref) 68,016 0.01 111,500 KWG Group Holdings Ltd 134,511 0.03 9,989 Sociedad Quimica y Minera de 149,000 Lee & Man Paper Manufacturing Ltd 126,983 0.03 Chile SA ADR* 380,181 0.08 92,000 Logan Property Holdings Co Ltd* 152,358 0.03 5,151,941 1.02 139,000 Longfor Group Holdings Ltd 489,602 0.10 151,000 Meitu Inc‘144A’ 70,980 0.01 China 22,100 Meituan Dianping ‘B’ 148,930 0.03 122,200 Agricultural Bank of China Ltd ‘A’ 67,826 0.01 12,192 Momo Inc ADR 463,906 0.09 2,855,000 Agricultural Bank of China Ltd ‘H’ 1,316,582 0.26 7,136 NetEase Inc ADR* 1,708,573 0.34 222,000 Air China Ltd ‘H’ 273,189 0.05 12,439 New Oriental Education & 14,600 Aisino Corp ‘A’ 60,679 0.01 Technology Group Inc ADR 1,114,908 0.22 378,000 Aluminum Corp of China Ltd ‘H’* 139,163 0.03 77,000 Nexteer Automotive Group Ltd 95,147 0.02 92,000 Angang Steel Co Ltd ‘H’ 67,272 0.01 1,534 Noah Holdings Ltd ADR 75,780 0.02 19,897 Anhui Conch Cement Co Ltd ‘A’ 113,042 0.02 14,829 Pinduoduo Inc ADR 362,272 0.07 113,500 Anhui Conch Cement Co Ltd ‘H’ 693,294 0.14 280,100 Semiconductor Manufacturing 210,000 AviChina Industry & Technology International Corp 283,313 0.06 Co Ltd ‘H’* 134,026 0.03 73,000 Shenzhou International Group 155,500 BAIC Motor Corp Ltd ‘H’‘144A’ 101,620 0.02 Holdings Ltd* 978,299 0.19 48,100 Bank of Beijing Co Ltd ‘A’ 44,377 0.01 115,500 Shimao Property Holdings Ltd* 361,216 0.07 138,400 Bank of China Ltd ‘A’ 77,642 0.02 354,000 Shui On Land Ltd 87,486 0.02 7,750,000 Bank of China Ltd ‘H’ 3,514,672 0.70 4,772 SINA Corp/China 275,678 0.05 87,400 Bank of Communications Co Ltd ‘A’ 81,155 0.02 676,500 Sino Biopharmaceutical Ltd* 617,041 0.12 854,000 Bank of Communications Co Ltd ‘H’ 699,523 0.14 176,000 SOHO China Ltd 73,988 0.01 60,300 Baoshan Iron & Steel Co Ltd ‘A’ 64,874 0.01 132,000 SSY Group Ltd 122,752 0.02 228,000 BBMG Corp ‘H’ 83,649 0.02 236,000 Sunac China Holdings Ltd* 1,175,498 0.23 186,000 Beijing Capital International Airport 65,500 Sunny Optical Technology Group Co Ltd ‘H’ 176,523 0.04 Co Ltd* 782,250 0.15 80,200 BOE Technology Group Co Ltd ‘A’ 46,543 0.01 31,291 TAL Education Group ADR* 1,125,537 0.22 13,400 BYD Co Ltd ‘A’ 106,658 0.02 550,379 Tencent Holdings Ltd* 25,310,584 5.01 66,500 BYD Co Ltd ‘H’* 400,697 0.08 4,629 Tencent Music Entertainment 1,117,000 CGN Power Co Ltd ‘H’‘144A’ 311,624 0.06 Group ADR 81,632 0.02 989,000 China Cinda Asset Management 180,000 Tingyi Cayman Islands Holding Corp* 296,715 0.06 Co Ltd ‘H’* 274,654 0.05 95,000 Towngas China Co Ltd 74,669 0.01 961,000 China CITIC Bank Corp Ltd ‘H’ 612,106 0.12 113,000 Uni-President China Holdings Ltd 110,841 0.02 200,000 China Coal Energy Co Ltd ‘H’ 82,803 0.02 30,647 Vipshop Holdings Ltd ADR 243,184 0.05 489,000 China Communications 546,000 Want Want China Holdings Ltd* 453,496 0.09 Construction 3,552 Weibo Corp ADR* 212,197 0.04 Co Ltd ‘H’ 505,822 0.10 41,500 Wuxi Biologics Cayman Inc‘144A’ 403,636 0.08 242,000 China Communications Services 307,800 Xiaomi Corp ‘B’‘144A’ 446,215 0.09 Corp Ltd ‘H’ 215,798 0.04 260,000 Xinyi Solar Holdings Ltd 125,198 0.02 9,199,000 China Construction Bank Corp ‘H’ 7,886,581 1.56 40,000 Yihai International Holding Ltd 178,090 0.04 136,000 China Eastern Airlines Corp Ltd ‘H’ 96,500 0.02 189,000 Yuzhou Properties Co Ltd 114,123 0.02 80,100 China Everbright Bank Co Ltd ‘A’ 48,869 0.01 3,465 YY Inc ADR 287,768 0.06 327,000 China Everbright Bank Co Ltd ‘H’ 154,545 0.03 43,000 Zhen Ding Technology Holding Ltd 133,518 0.03 360,500 China Galaxy Securities Co Ltd ‘H’* 236,967 0.05 50,000 Zhongsheng Group Holdings Ltd 124,077 0.02 977,000 China Huarong Asset Management 26,134 ZTO Express Cayman Inc ADR* 473,548 0.09 Co Ltd ‘H’‘144A’* 207,847 0.04 84,159,538 16.65 71,600 China International Capital Corp Ltd ‘H’‘144A’ 165,821 0.03 Chile 7,600 China International Travel Service 238,117 Aguas Andinas SA ‘A’ 135,275 0.03 Corp Ltd ‘A’ 79,255 0.02 11,571 Banco de Chile ADR 338,220 0.07 726,000 China Life Insurance Co Ltd ‘H’ 1,951,426 0.39 4,640 Banco de Credito e Inversiones SA 298,798 0.06 378,000 China Longyuan Power Group 739,878 Banco Santander Chile 54,702 0.01 Corp Ltd ‘H’ 262,916 0.05 14,204 Banco Santander Chile ADR 419,018 0.08 33,200 China Merchants Bank Co Ltd ‘A’ 167,576 0.03 128,464 Cencosud SA 221,888 0.04 380,792 China Merchants Bank Co Ltd ‘H’* 1,850,612 0.37 6,812 Cia Cervecerias Unidas SA ADR 197,412 0.04 23,600 China Merchants Shekou Industrial 662,536 Colbun SA 149,679 0.03 Zone Holdings Co Ltd ‘A’ 80,912 0.02 36,639 Embotelladora Andina SA (Pref) 132,320 0.03 57,720 China Minsheng Banking Corp Ltd ‘A’ 54,455 0.01 14,317 Empresa Nacional de 563,400 China Minsheng Banking Corp Ltd ‘H’* 409,096 0.08 Telecomunicaciones SA 148,256 0.03 381,000 China Molybdenum Co Ltd ‘H’ 159,196 0.03 121,953 Empresas CMPC SA 421,983 0.08 326,000 China National Building Material 39,998 Empresas COPEC SA 505,609 0.10 Co Ltd ‘H’ 257,064 0.05
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [29] iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
China continued China continued 230,000 China Oilfield Services Ltd ‘H’* 248,460 0.05 25,300 Huatai Securities Co Ltd ‘A’ 84,369 0.02 20,300 China Pacific Insurance Group 177,200 Huatai Securities Co Ltd ‘H’‘144A’* 354,402 0.07 Co Ltd ‘A’ 102,826 0.02 32,000 Huaxia Bank Co Ltd ‘A’ 39,285 0.01 257,200 China Pacific Insurance Group 14,300 Iflytek Co Ltd ‘A’ 77,222 0.02 Co Ltd ‘H’ 1,009,148 0.20 89,500 Industrial & Commercial Bank of 48,100 China Petroleum & Chemical China Ltd ‘A’ 74,182 0.01 Corp ‘A’ 41,084 0.01 6,642,000 Industrial & Commercial Bank of 2,489,200 China Petroleum & Chemical China Ltd ‘H’ 4,865,190 0.96 Corp ‘H’ 1,962,834 0.39 31,900 Industrial Bank Co Ltd ‘A’ 86,251 0.02 45,196 China Railway Construction 273,400 Inner Mongolia BaoTou Steel Union Corp Ltd ‘A’ 77,409 0.02 Co Ltd ‘A’ 74,451 0.01 189,500 China Railway Construction 18,300 Inner Mongolia Yili Industrial Group Corp Ltd ‘H’ 248,162 0.05 Co Ltd ‘A’ 79,270 0.02 384,000 China Railway Group Ltd ‘H’* 350,249 0.07 93,400 Inner Mongolia Yitai Coal Co Ltd ‘B’ 114,975 0.02 141,000 China Railway Signal & 138,000 Jiangsu Expressway Co Ltd ‘H’ 195,135 0.04 Communication Corp Ltd ‘H’‘144A’ 111,543 0.02 12,240 Jiangsu Hengrui Medicine Co Ltd ‘A’ 119,154 0.02 497,000 China Reinsurance Group Corp ‘H’ 105,099 0.02 4,300 Jiangsu Yanghe Brewery Joint-Stock 27,797 China Shenhua Energy Co Ltd ‘A’ 81,114 0.02 Co Ltd ‘A’ 83,451 0.02 310,000 China Shenhua Energy Co Ltd ‘H’ 706,884 0.14 89,000 Jiangxi Copper Co Ltd ‘H’* 118,138 0.02 195,722 China Southern Airlines Co Ltd ‘H’* 175,029 0.03 18,200 Kangmei Pharmaceutical Co Ltd ‘A’ 28,301 0.01 114,800 China State Construction 1,756 Kweichow Moutai Co Ltd ‘A’ 223,149 0.04 Engineering Corp Ltd ‘A’ 104,547 0.02 23,200 Legend Holdings Corp ‘H’‘144A’ 61,621 0.01 1,356,000 China Telecom Corp Ltd ‘H’ 753,146 0.15 4,000 Luzhou Laojiao Co Ltd ‘A’ 39,630 0.01 3,680,000 China Tower Corp Ltd ‘H’‘144A’* 853,203 0.17 148,000 Maanshan Iron & Steel Co Ltd ‘H’ 72,398 0.01 85,600 China United Network 280,000 Metallurgical Corp of China Ltd ‘H’ 82,752 0.02 Communications Ltd ‘A’ 86,489 0.02 9,800 Midea Group Co Ltd ‘A’ 71,063 0.01 19,200 China Vanke Co Ltd ‘A’ 87,769 0.02 84,200 New China Life Insurance Co Ltd ‘H’ 429,047 0.09 118,200 China Vanke Co Ltd ‘H’* 496,895 0.10 24,800 OFILM Group Co Ltd ‘A’ 52,403 0.01 20,000 China Yangtze Power Co Ltd ‘A’ 50,207 0.01 758,000 People’s Insurance Co Group of 302,000 Chongqing Rural Commercial Bank China Ltd/The ‘H’ 324,445 0.06 Co Ltd ‘H’ 174,276 0.03 60,300 PetroChina Co Ltd ‘A’ 68,194 0.01 30,399 CITIC Securities Co Ltd ‘A’ 112,093 0.02 2,058,000 PetroChina Co Ltd ‘H’ 1,334,431 0.26 222,500 CITIC Securities Co Ltd ‘H’* 518,131 0.10 659,808 PICC Property & Casualty Co Ltd ‘H’ 749,748 0.15 120,000 COSCO SHIPPING Energy 47,900 Ping An Bank Co Ltd ‘A’ 91,378 0.02 Transportation Co Ltd ‘H’ 68,790 0.01 15,900 Ping An Insurance Group Co of 226,000 COSCO Shipping Holdings Co Ltd ‘H’ 93,855 0.02 China Ltd ‘A’ 182,419 0.04 54,000 CRRC Corp Ltd ‘A’ 73,123 0.01 508,500 Ping An Insurance Group Co of 434,250 CRRC Corp Ltd ‘H’ 409,359 0.08 China Ltd ‘H’* 5,693,941 1.13 40,200 Daqin Railway Co Ltd ‘A’ 49,890 0.01 41,100 Poly Developments and Holdings 298,000 Datang International Power Group Co Ltd ‘A’ 87,090 0.02 Generation Co Ltd ‘H’ 79,720 0.02 657,000 Postal Savings Bank of China 310,000 Dongfeng Motor Group Co Ltd ‘H’* 310,397 0.06 Co Ltd ‘H’‘144A’* 375,790 0.07 28,800 Focus Media Information Technology 27,200 Qingdao Haier Co Ltd ‘A’ 69,253 0.01 Co Ltd ‘A’ 26,871 0.01 12,500 SAIC Motor Corp Ltd ‘A’ 48,492 0.01 4,000 Foshan Haitian Flavouring & Food 26,197 Sanan Optoelectronics Co Ltd ‘A’ 57,187 0.01 Co Ltd ‘A’ 51,606 0.01 264,000 Shandong Weigao Group Medical 51,200 Fuyao Glass Industry Group Polymer Co Ltd ‘H’ 252,231 0.05 Co Ltd ‘H’‘144A’ 171,864 0.03 360,000 Shanghai Electric Group Co Ltd ‘H’ 136,663 0.03 138,000 GF Securities Co Ltd ‘H’* 198,299 0.04 42,000 Shanghai Fosun Pharmaceutical 301,500 Great Wall Motor Co Ltd ‘H’* 226,223 0.04 Group Co Ltd ‘H’* 151,683 0.03 12,098 Gree Electric Appliances Inc 80,300 Shanghai Lujiazui Finance & Trade of Zhuhai ‘A’ 84,990 0.02 Zone Development Co Ltd ‘B’ 117,880 0.02 327,600 Guangzhou Automobile Group 101,700 Shanghai Pharmaceuticals Holding Co Ltd ‘H’* 386,863 0.08 Co Ltd ‘H’* 221,539 0.04 111,200 Guangzhou R&F Properties 41,000 Shanghai Pudong Development Co Ltd ‘H’* 240,534 0.05 Bank Co Ltd ‘A’ 68,819 0.01 29,700 Guotai Junan Securities Co Ltd ‘A’ 89,053 0.02 115,000 Sinopec Engineering Group 52,400 Guotai Junan Securities Co Ltd ‘H’ 112,217 0.02 Co Ltd ‘H’‘144A’ 116,816 0.02 354,000 Sinopec Shanghai Petrochemical 351,600 Haitong Securities Co Ltd ‘H’* 455,067 0.09 Co Ltd ‘H’* 168,658 0.03 23,300 Hangzhou Hikvision Digital 106,000 Sinopharm Group Co Ltd ‘H’ 441,557 0.09 Technology Co Ltd ‘A’ 121,593 0.02 178,000 Sinotrans Ltd ‘H’ 76,416 0.02 17,198 Hengtong Optic-electric Co Ltd ‘A’ 54,305 0.01 39,700 Suning.com Co Ltd ‘A’ 74,140 0.01 160,000 Huadian Power International 55,000 Tong Ren Tang Technologies Corp Ltd ‘H’ 65,835 0.01 Co Ltd ‘H’ 73,848 0.01 446,000 Huaneng Power International Inc ‘H’* 259,079 0.05 96,000 TravelSky Technology Ltd ‘H’ 253,760 0.05 518,000 Huaneng Renewables Corp Ltd ‘H’ 143,853 0.03 36,000 Tsingtao Brewery Co Ltd ‘H’* 169,683 0.03
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[30] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
China continued Hong Kong 196,000 Weichai Power Co Ltd ‘H’* 313,103 0.06 58,500 Beijing Enterprises Holdings Ltd 331,626 0.06 4,800 Wuliangye Yibin Co Ltd ‘A’ 67,855 0.01 66,000 BYD Electronic International Co Ltd 85,086 0.02 60,200 Xinjiang Goldwind Science & 205,000 China Agri-Industries Holdings Ltd 70,249 0.01 Technology Co Ltd ‘H’ 86,658 0.02 379,592 China Everbright International Ltd* 385,881 0.08 11,438 Xinjiang Goldwind Science & 94,000 China Everbright Ltd 186,325 0.04 Technology Co Ltd ‘H’ (Right) 4,502 0.00 406,000 China Jinmao Holdings Group Ltd* 264,807 0.05 194,000 Yanzhou Coal Mining Co Ltd ‘H’ 190,541 0.04 136,578 China Merchants Port Holdings 15,098 Yonyou Network Technology Co Ltd 290,904 0.06 Co Ltd ‘A’ 76,162 0.02 599,500 China Mobile Ltd* 6,109,593 1.21 6,200 Yunnan Baiyao Group Co Ltd ‘A’ 78,882 0.02 374,000 China Overseas Land & 102,500 Zhaojin Mining Industry Co Ltd ‘H’ 102,631 0.02 Investment Ltd* 1,419,780 0.28 26,197 Zhejiang Dahua Technology 386,000 China Power International Co Ltd ‘A’ 64,009 0.01 Development Ltd 98,836 0.02 156,000 Zhejiang Expressway Co Ltd ‘H’ 178,855 0.04 142,174 China Resources Beer Holdings 16,100 ZhongAn Online P&C Insurance Co Ltd 598,584 0.12 Co Ltd ‘H’‘144A’ 57,837 0.01 177,000 China Resources Pharmaceutical 59,400 Zhuzhou CRRC Times Electric Group Ltd‘144A’ 250,282 0.05 Co Ltd ‘H’ 351,105 0.07 207,146 China Resources Power Holdings 125,097 Zijin Mining Group Co Ltd ‘A’ 65,339 0.01 Co Ltd 311,381 0.06 582,000 Zijin Mining Group Co Ltd ‘H’ 240,957 0.05 157,800 China Taiping Insurance Holdings 22,600 ZTE Corp ‘A’ 98,200 0.02 Co Ltd 470,388 0.09 88,800 ZTE Corp ‘H’* 266,967 0.05 154,000 China Traditional Chinese Medicine Holdings Co Ltd 91,616 0.02 57,640,937 11.40 554,000 China Unicom Hong Kong Ltd 702,208 0.14 568,000 CITIC Ltd 848,026 0.17 1,707,000 CNOOC Ltd 3,196,568 0.63 436,000 CSPC Pharmaceutical Group Ltd 810,910 0.16 Colombia 229,000 Far East Horizon Ltd* 242,712 0.05 19,407 Bancolombia SA 237,862 0.05 279,620 Fosun International Ltd 473,754 0.09 20,953 Bancolombia SA (Pref) 264,209 0.05 306,000 Guangdong Investment Ltd 590,954 0.12 5,804 Bancolombia SA ADR 296,120 0.06 36,000 Hua Hong Semiconductor Ltd‘144A’* 84,383 0.02 36,072 Cementos Argos SA 90,857 0.02 706,000 Lenovo Group Ltd* 634,954 0.12 21,774 Ecopetrol SA ADR 466,617 0.09 212,000 MMG Ltd* 86,151 0.02 25,291 Grupo Argos SA/Colombia 144,147 0.03 47,000 Shanghai Industrial Holdings Ltd 110,645 0.02 20,272 Grupo Aval Acciones y Valores 282,000 Shenzhen Investment Ltd 107,771 0.02 SA ADR 155,486 0.03 357,000 Sino-Ocean Group Holding Ltd 156,444 0.03 19,248 Grupo de Inversiones 86,500 Sinotruk Hong Kong Ltd 184,020 0.04 Suramericana SA 219,773 0.04 229,000 Sun Art Retail Group Ltd* 223,167 0.04 7,994 Grupo de Inversiones 598,000 Yuexiu Property Co Ltd 143,978 0.03 Suramericana SA (Pref) 85,227 0.02 46,694 Interconexion Electrica SA ESP 236,989 0.04 19,561,983 3.87 2,197,287 0.43
Czech Republic Hungary 14,340 CEZ AS 337,688 0.06 33,460 MOL Hungarian Oil & Gas Plc* 384,555 0.08 7,106 Komercni Banka AS 292,338 0.06 21,734 OTP Bank Nyrt* 961,016 0.19 29,690 Moneta Money Bank AS‘144A’ 102,518 0.02 10,525 Richter Gedeon Nyrt 199,583 0.04 732,544 0.14 1,545,154 0.31 Egypt 130,968 Commercial International Bank Egypt SAE GDR Reg 509,466 0.10 India 81,000 Eastern Tobacco 86,001 0.02 54,274 Adani Ports & Special Economic 595,467 0.12 Zone Ltd 297,557 0.06 65,419 Ambuja Cements Ltd 222,155 0.04 Greece 116,997 Ashok Leyland Ltd 153,857 0.03 148,736 Alpha Bank AE* 204,400 0.04 26,466 Asian Paints Ltd 569,243 0.11 24,381 Hellenic Telecommunications 29,753 Aurobindo Pharma Ltd 337,795 0.07 Organization SA 327,117 0.06 12,177 Avenue Supermarts Ltd 258,217 0.05 10,685 JUMBO SA 180,668 0.04 127,008 Axis Bank Ltd 1,421,243 0.28 4,088 Motor Oil Hellas Corinth 9,623 Axis Bank Ltd GDR RegS 535,039 0.11 Refineries SA 95,927 0.02 9,716 Bajaj Auto Ltd 406,312 0.08 23,328 OPAP SA 241,093 0.05 17,988 Bajaj Finance Ltd 784,305 0.16 4,516 Titan Cement Co SA 97,452 0.02 3,863 Bajaj Finserv Ltd 392,295 0.08 25,845 Bharat Forge Ltd 191,165 0.04 1,146,657 0.23 85,383 Bharat Petroleum Corp Ltd 490,297 0.10
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [31] iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
India continued India continued 130,366 Bharti Airtel Ltd 623,931 0.12 20,756 Tata Steel Ltd GDR RegS* 157,615 0.03 42,404 Bharti Infratel Ltd 191,346 0.04 49,703 Tech Mahindra Ltd 557,047 0.11 880 Bosch Ltd 231,195 0.05 30,209 Titan Co Ltd 499,348 0.10 4,486 Britannia Industries Ltd 199,699 0.04 9,735 UltraTech Cement Ltd 561,925 0.11 24,873 Cadila Healthcare Ltd 123,943 0.02 20,815 United Spirits Ltd 167,662 0.03 42,547 Cipla Ltd/India 323,947 0.06 33,955 UPL Ltd 469,562 0.09 76,642 Coal India Ltd 261,595 0.05 28,110 Vedanta Ltd 74,987 0.01 15,826 Container Corp Of India Ltd 120,166 0.02 14,554 Vedanta Ltd ADR 152,308 0.03 42,957 Dabur India Ltd 253,618 0.05 156,122 Vodafone Idea Ltd 40,453 0.01 6,834 Divi’s Laboratories Ltd 168,593 0.03 357,437 Vodafone Idea Ltd (Right) 28,120 0.01 9,535 Dr Reddy’s Laboratories Ltd 382,914 0.08 115,372 Wipro Ltd 424,349 0.08 157 Dr Reddy’s Laboratories Ltd ADR 6,282 0.00 13,309 Wipro Ltd ADR 52,970 0.01 1,232 Eicher Motors Ltd 364,860 0.07 182,009 Yes Bank Ltd 721,205 0.14 42,351 GAIL India Ltd 213,971 0.04 46,111 Zee Entertainment Enterprises Ltd 295,070 0.06 3,808 GAIL India Ltd GDR RegS 115,763 0.02 46,356,552 9.17 19,078 Glenmark Pharmaceuticals Ltd 177,630 0.04 41,985 Godrej Consumer Products Ltd 414,729 0.08 Indonesia 26,100 Grasim Industries Ltd 324,013 0.06 1,561,900 Adaro Energy Tbk PT 147,525 0.03 26,497 Havells India Ltd 295,665 0.06 1,879,800 Astra International Tbk PT 966,962 0.19 53,945 HCL Technologies Ltd 846,456 0.17 935,600 Bank Central Asia Tbk PT 1,823,237 0.36 5,460 Hero MotoCorp Ltd 201,147 0.04 364,000 Bank Danamon Indonesia Tbk PT 237,725 0.05 128,575 Hindalco Industries Ltd 380,296 0.08 1,784,400 Bank Mandiri Persero Tbk PT 933,552 0.19 72,750 Hindustan Petroleum Corp Ltd 297,931 0.06 777,000 Bank Negara Indonesia Persero 62,465 Hindustan Unilever Ltd 1,538,744 0.30 Tbk PT 512,907 0.10 155,684 Housing Development Finance 5,247,200 Bank Rakyat Indonesia Persero Corp Ltd 4,413,762 0.87 Tbk PT 1,518,151 0.30 212,321 ICICI Bank Ltd 1,223,202 0.24 413,300 Bank Tabungan Negara Persero 3,799 ICICI Bank Ltd ADR 43,309 0.01 Tbk PT 70,818 0.02 26,430 Indiabulls Housing Finance Ltd 328,377 0.07 823,200 Charoen Pokphand Indonesia 135,488 Indian Oil Corp Ltd 318,502 0.06 Tbk PT 369,977 0.07 85,370 Infosys Ltd 914,577 0.18 44,100 Gudang Garam Tbk PT 257,663 0.05 234,747 Infosys Ltd ADR* 2,582,217 0.51 920,100 Hanjaya Mandala Sampoerna 6,291 InterGlobe Aviation Ltd‘144A’ 129,607 0.03 Tbk PT 242,302 0.05 330,981 ITC Ltd 1,416,852 0.28 266,900 Indah Kiat Pulp & Paper Corp 81,423 JSW Steel Ltd 344,263 0.07 Tbk PT 161,190 0.03 16,581 Larsen & Toubro Ltd 330,746 0.07 197,738 Indocement Tunggal Prakarsa 29,950 Larsen & Toubro Ltd GDR RegS* 596,604 0.12 Tbk PT 304,105 0.06 26,572 LIC Housing Finance Ltd 203,677 0.04 227,600 Indofood CBP Sukses Makmur 24,297 Lupin Ltd 259,174 0.05 Tbk PT 149,043 0.03 28,293 Mahindra & Mahindra Financial 459,200 Indofood Sukses Makmur Tbk PT 205,576 0.04 Services Ltd 171,698 0.03 236,300 Jasa Marga Persero Tbk PT 99,150 0.02 28,672 Mahindra & Mahindra Ltd 279,373 0.06 2,173,700 Kalbe Farma Tbk PT 232,024 0.05 43,792 Mahindra & Mahindra Ltd GDR* 426,534 0.08 117,700 Pabrik Kertas Tjiwi Kimia Tbk PT 91,127 0.02 29,933 Marico Ltd 150,151 0.03 2,090,500 Pakuwon Jati Tbk PT 101,295 0.02 10,032 Maruti Suzuki India Ltd 966,200 0.19 955,800 Perusahaan Gas Negara 75,894 Motherson Sumi Systems Ltd 164,113 0.03 Persero Tbk 157,734 0.03 1,877 Nestle India Ltd 296,987 0.06 308,882 Semen Indonesia Persero Tbk PT 302,592 0.06 232,984 NTPC Ltd 454,870 0.09 570,600 Surya Citra Media Tbk PT 66,316 0.01 137,147 Oil & Natural Gas Corp Ltd 316,760 0.06 4,810,000 Telekomunikasi Indonesia Persero 533 Page Industries Ltd 192,341 0.04 Tbk PT 1,334,234 0.26 43,589 Petronet LNG Ltd 157,619 0.03 134,800 Unilever Indonesia Tbk PT 465,978 0.09 8,839 Pidilite Industries Ltd 159,300 0.03 191,300 United Tractors Tbk PT 363,389 0.07 5,748 Piramal Enterprises Ltd 228,514 0.05 153,121 Power Grid Corp of India Ltd 436,983 0.09 11,114,572 2.20 61,826 REC Ltd 136,102 0.03 26,160 Reliance Industries Ltd 514,722 0.10 Isle of Man 123,609 Reliance Industries Ltd GDR‘144A’* 4,913,458 0.97 33,101 NEPI Rockcastle Plc 277,181 0.05 976 Shree Cement Ltd 264,165 0.05 277,181 0.05 12,863 Shriram Transport Finance Co Ltd 236,733 0.05 40,902 State Bank of India 189,262 0.04 Jersey 13,124 State Bank of India GDR RegS* 603,704 0.12 8,901 Polymetal International Plc 99,779 0.02 81,820 Sun Pharmaceutical Industries Ltd 564,325 0.11 89,930 Tata Consultancy Services Ltd 2,596,319 0.51 99,779 0.02 75,805 Tata Motors Ltd 190,292 0.04 10,864 Tata Motors Ltd ADR 135,800 0.03 Luxembourg 124,981 Tata Power Co Ltd/The 132,874 0.03 13,262 Reinet Investments SCA 225,542 0.04 6,912 Tata Steel Ltd 51,949 0.01 225,542 0.04
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[32] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Malaysia Mexico continued 152,300 AirAsia Group Bhd 99,233 0.02 37,699 Grupo Carso SAB de CV ‘A1’ 145,408 0.03 109,200 Alliance Bank Malaysia Bhd 109,401 0.02 253,185 Grupo Financiero Banorte SAB 152,900 AMMB Holdings Bhd 170,784 0.03 de CV ‘O’ 1,400,208 0.28 199,706 Axiata Group Bhd 203,008 0.04 226,802 Grupo Financiero Inbursa SAB 14,300 British American Tobacco de CV ‘O’ 326,667 0.06 Malaysia Bhd 126,590 0.03 325,579 Grupo Mexico SAB de CV ‘B’ 900,118 0.18 456,889 CIMB Group Holdings Bhd 576,357 0.11 238,559 Grupo Televisa SAB ‘CPO’ (Unit) 526,024 0.10 357,732 Dialog Group Bhd 277,773 0.06 15,540 Industrias Penoles SAB de CV 199,110 0.04 246,600 DiGi.Com Bhd 274,839 0.05 58,260 Infraestructura Energetica Nova 12,500 Fraser & Neave Holdings Bhd 106,675 0.02 SAB de CV 235,451 0.05 185,800 Gamuda Bhd 131,073 0.03 117,274 Kimberly-Clark de Mexico SAB 206,992 Genting Bhd 336,663 0.07 de CV ‘A’ 194,474 0.04 329,800 Genting Malaysia Bhd 258,508 0.05 25,348 Megacable Holdings SAB de CV 75,900 HAP Seng Consolidated Bhd 184,056 0.04 ‘CPO’ (Unit) 117,375 0.02 129,300 Hartalega Holdings Bhd 146,640 0.03 95,687 Mexichem SAB de CV 227,982 0.04 62,500 Hong Leong Bank Bhd 310,778 0.06 20,860 Promotora y Operadora de 24,900 Hong Leong Financial Group Bhd 116,983 0.02 Infraestructura SAB de CV 206,590 0.04 241,300 IHH Healthcare Bhd 341,041 0.07 511,071 Wal-Mart de Mexico SAB de CV 1,370,607 0.27 357,300 IJM Corp Bhd 194,294 0.04 13,383,497 2.65 217,200 IOI Corp Bhd 237,284 0.05 96,427 IOI Properties Group Bhd 31,178 0.01 40,200 Kuala Lumpur Kepong Bhd 244,203 0.05 Netherlands 360,586 Malayan Banking Bhd 818,771 0.16 11,220 X5 Retail Group NV GDR RegS 279,827 0.05 102,000 Malaysia Airports Holdings Bhd 180,889 0.04 279,827 0.05 206,300 Maxis Bhd 270,856 0.05 103,100 MISC Bhd 168,950 0.03 Pakistan 4,100 Nestle Malaysia Bhd 147,429 0.03 60,000 Habib Bank Ltd 56,483 0.01 229,300 Petronas Chemicals Group Bhd 514,486 0.10 45,000 MCB Bank Ltd 62,824 0.01 18,700 Petronas Dagangan Bhd 114,513 0.02 65,600 Oil & Gas Development Co Ltd 68,816 0.02 65,200 Petronas Gas Bhd 281,402 0.06 188,123 0.04 48,840 PPB Group Bhd 219,167 0.04 152,600 Press Metal Aluminium Holdings Bhd 168,580 0.03 278,200 Public Bank Bhd 1,578,227 0.31 Peru 19,276 Cia de Minas Buenaventura 53,700 QL Resources Bhd 90,497 0.02 SAA ADR 329,812 0.06 87,037 RHB Bank Bhd 121,521 0.02 254,486 Sime Darby Bhd 139,009 0.03 329,812 0.06 254,486 Sime Darby Plantation Bhd 312,926 0.06 254,486 Sime Darby Property Bhd 69,193 0.01 Philippines 151,800 SP Setia Bhd Group 84,406 0.02 214,070 Aboitiz Equity Ventures Inc 240,324 0.05 109,206 Telekom Malaysia Bhd 85,599 0.02 235,700 Aboitiz Power Corp 158,899 0.03 303,500 Tenaga Nasional Bhd 941,166 0.19 445,800 Alliance Global Group Inc 137,195 0.03 97,600 Top Glove Corp Bhd 110,450 0.02 24,245 Ayala Corp 434,018 0.08 103,600 Westports Holdings Bhd 95,416 0.02 762,500 Ayala Land Inc 651,995 0.13 239,920 YTL Corp Bhd 62,294 0.01 105,335 Bank of the Philippine Islands 168,905 0.03 11,053,108 2.19 191,833 BDO Unibank Inc 488,807 0.10 432,200 DMCI Holdings Inc 98,770 0.02 2,785 Globe Telecom Inc 102,787 0.02 Mexico 8,512 GT Capital Holdings Inc 150,998 0.03 324,800 Alfa SAB de CV ‘A’ 345,061 0.07 55,020 International Container Terminal 25,307 Alsea SAB de CV 53,116 0.01 Services Inc 136,947 0.03 3,208,646 America Movil SAB de CV ‘L’ 2,269,209 0.45 340,540 JG Summit Holdings Inc 411,813 0.08 38,491 Arca Continental SAB de CV 213,089 0.04 43,000 Jollibee Foods Corp 259,589 0.05 198,300 Banco Santander Mexico SA 21,990 Manila Electric Co 159,135 0.03 Institucion de Banca Multiple 1,346,000 Megaworld Corp 148,673 0.03 Grupo Financiero Santand 270,421 0.05 1,468,000 Metro Pacific Investments Corp 135,589 0.03 1,366,960 Cemex SAB de CV ‘CPO’ (Unit) 631,281 0.12 86,379 Metropolitan Bank & Trust Co 131,436 0.03 54,700 Coca-Cola Femsa SAB de CV ‘L’ 359,377 0.07 7,800 PLDT Inc 170,825 0.03 21,100 El Puerto de Liverpool SAB 202,700 Robinsons Land Corp 94,575 0.02 de CV ‘C1’ 130,313 0.03 24,967 SM Investments Corp 444,090 0.09 274,550 Fibra Uno Administracion SA 879,300 SM Prime Holdings Inc 668,141 0.13 de CV (Reit) 382,079 0.08 57,270 Universal Robina Corp 165,779 0.03 189,764 Fomento Economico Mexicano SAB de CV (Unit) 1,752,909 0.35 5,559,290 1.10 18,690 Gruma SAB de CV ‘B’ 191,117 0.04 32,691 Grupo Aeroportuario del Pacifico Poland SAB de CV ‘B’ 291,111 0.06 9,166 Alior Bank SA* 143,049 0.03 19,284 Grupo Aeroportuario del Sureste 61,446 Bank Millennium SA 145,928 0.03 SAB de CV ‘B’ 307,573 0.06 15,373 Bank Polska Kasa Opieki SA* 441,120 0.09 160,599 Grupo Bimbo SAB de CV ‘A’ 336,827 0.07 2,775 CCC SA 155,271 0.03
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [33] iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Poland continued South Africa 5,994 CD Projekt SA 314,111 0.06 70,302 Absa Group Ltd 738,781 0.15 25,268 Cyfrowy Polsat SA* 168,025 0.03 4,739 Anglo American Platinum Ltd 242,291 0.05 4,782 Dino Polska SA‘144A’ 150,508 0.03 38,104 AngloGold Ashanti Ltd* 504,885 0.10 10,030 Grupa Lotos SA 217,732 0.04 33,994 Aspen Pharmacare Holdings Ltd 217,980 0.04 5,155 Jastrzebska Spolka Weglowa SA 81,554 0.02 30,505 Bid Corp Ltd* 625,117 0.12 11,678 KGHM Polska Miedz SA 324,884 0.07 31,082 Bidvest Group Ltd/The 414,828 0.08 126 LPP SA* 273,752 0.05 4,073 Capitec Bank Holdings Ltd 378,255 0.08 1,445 mBank SA 160,574 0.03 24,776 Clicks Group Ltd* 314,490 0.06 72,655 Orange Polska SA 97,082 0.02 34,709 Discovery Ltd* 328,391 0.07 93,163 PGE Polska Grupa Energetyczna SA 243,378 0.05 22,993 Exxaro Resources Ltd 261,245 0.05 28,838 Polski Koncern Naftowy ORLEN SA 739,511 0.15 328,364 FirstRand Ltd 1,427,684 0.28 161,452 Polskie Gornictwo Naftowe i 104,006 Fortress REIT Ltd ‘A’ (Reit)* 132,435 0.03 Gazownictwo SA 263,767 0.05 80,520 Fortress REIT Ltd ‘B’ (Reit)* 59,748 0.01 82,407 Powszechna Kasa Oszczednosci 19,721 Foschini Group Ltd/The 221,317 0.04 Bank Polski SA 827,350 0.16 77,482 Gold Fields Ltd 284,955 0.06 55,844 Powszechny Zaklad 262,688 Growthpoint Properties Ltd (Reit) 440,483 0.09 Ubezpieczen SA* 587,333 0.12 20,169 Hyprop Investments Ltd (Reit)* 98,269 0.02 3,280 Santander Bank Polska SA 324,255 0.06 32,696 Investec Ltd 190,523 0.04 5,855 Kumba Iron Ore Ltd 174,168 0.03 5,659,184 1.12 11,597 Liberty Holdings Ltd 80,950 0.02 116,814 Life Healthcare Group Holdings Ltd 216,780 0.04 Qatar 69,863 MMI Holdings Ltd/South Africa 80,223 0.02 12,290 Barwa Real Estate Co 123,135 0.02 10,665 Mondi Ltd* 234,893 0.05 18,952 Commercial Bank PQSC/The 232,885 0.05 25,054 Mr Price Group Ltd 330,326 0.07 93,926 Ezdan Holding Group QSC 254,201 0.05 167,511 MTN Group Ltd* 1,026,332 0.20 17,708 Industries Qatar QSC 599,787 0.12 42,796 Multichoice Group Ltd* 358,364 0.07 34,348 Masraf Al Rayan QSC 345,076 0.07 41,794 Naspers Ltd ‘N’ 9,621,795 1.90 10,465 Ooredoo QPSC 189,961 0.04 39,044 Nedbank Group Ltd* 677,738 0.13 4,829 Qatar Electricity & Water Co QSC 227,443 0.05 112,832 Netcare Ltd 182,807 0.04 17,685 Qatar Insurance Co SAQ 176,415 0.03 481,252 Old Mutual Ltd* 727,510 0.14 9,893 Qatar Islamic Bank SAQ 410,135 0.08 33,824 Pick n Pay Stores Ltd* 155,195 0.03 44,155 Qatar National Bank QPSC 2,178,780 0.43 15,856 PSG Group Ltd 286,901 0.06 4,737,818 0.94 69,305 Rand Merchant Investment Holdings Ltd 160,217 0.03 Russia 492,118 Redefine Properties Ltd (Reit) 327,767 0.06 274,573 Alrosa PJSC 387,261 0.08 51,632 Remgro Ltd* 662,695 0.13 512,850 Gazprom PJSC ADR 2,312,953 0.46 22,245 Resilient REIT Ltd (Reit) 83,993 0.02 3,055,646 Inter RAO UES PJSC 174,783 0.03 68,864 RMB Holdings Ltd 362,786 0.07 5,096 Lukoil PJSC 456,952 0.09 174,206 Sanlam Ltd* 887,775 0.18 41,651 Lukoil PJSC ADR 3,731,097 0.74 47,962 Sappi Ltd* 220,860 0.04 34,799 Magnit PJSC GDR 484,054 0.10 53,593 Sasol Ltd* 1,666,247 0.33 218,038 Magnitogorsk Iron & Steel 43,645 Shoprite Holdings Ltd* 476,503 0.09 Works PJSC 150,048 0.03 18,226 SPAR Group Ltd/The 240,919 0.05 61,672 MMC Norilsk Nickel PJSC ADR 1,288,945 0.26 126,281 Standard Bank Group Ltd 1,618,020 0.32 40,950 Mobile TeleSystems PJSC ADR 312,449 0.06 26,256 Telkom SA SOC Ltd 132,516 0.03 8,537 Novatek PJSC GDR 1,447,875 0.29 13,726 Tiger Brands Ltd 251,215 0.05 23,747 Novolipetsk Steel PJSC 61,610 0.01 45,315 Truworths International Ltd 216,654 0.04 10,239 Novolipetsk Steel PJSC GDR 265,088 0.05 53,305 Vodacom Group Ltd 410,972 0.08 7,115 PhosAgro PJSC GDR 88,368 0.02 97,149 Woolworths Holdings Ltd/South 2,606 Polyus PJSC 215,245 0.04 Africa* 310,635 0.06 120,121 Rosneft Oil Co PJSC GDR RegS 751,237 0.15 29,065,433 5.75 253,457 Sberbank of Russia PJSC ADR 3,355,771 0.66 26,170 Severstal PJSC GDR RegS 410,084 0.08 South Korea 676,518 Surgutneftegas PJSC (Pref) 421,641 0.08 3,120 Amorepacific Corp 518,122 0.10 30,980 Surgutneftegas PJSC ADR (traded 526 Amorepacific Corp (Pref) 49,583 0.01 in United Kingdom) 115,122 0.02 3,254 Amorepacific Group 199,523 0.04 62,735 Surgutneftegas PJSC ADR (traded 526 BGF retail Co Ltd 101,252 0.02 in United States) 232,747 0.05 22,635 BNK Financial Group Inc 133,206 0.03 5,430 Tatneft PJSC 62,459 0.01 4,228 Celltrion Healthcare Co Ltd 248,815 0.05 24,361 Tatneft PJSC ADR 1,679,447 0.33 8,111 Celltrion Inc 1,293,358 0.26 140,569 VTB Bank PJSC GDR 159,546 0.03 1,355 Celltrion Pharm Inc 66,133 0.01 18,564,782 3.67 6,779 Cheil Worldwide Inc 144,526 0.03 924 CJ CheilJedang Corp 262,930 0.05 Singapore 1,337 CJ Corp 146,645 0.03 18,200 BOC Aviation Ltd‘144A’ 148,499 0.03 200 CJ Corp (Pref) 4,757 0.00 789 CJ ENM Co Ltd 161,957 0.03 148,499 0.03 561 CJ Logistics Corp 81,795 0.02
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[34] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
South Korea continued South Korea continued 5,040 Coway Co Ltd 419,593 0.08 1,722 NCSoft Corp 752,455 0.15 2,543 Daelim Industrial Co Ltd 215,968 0.04 2,493 Netmarble Corp‘144A’ 274,535 0.05 13,530 Daewoo Engineering & 15,287 NH Investment & Securities Co Ltd 181,138 0.04 Construction Co Ltd 60,552 0.01 1,443 OCI Co Ltd 118,099 0.02 3,125 Daewoo Shipbuilding & Marine 1,986 Orange Life Insurance Ltd‘144A’ 62,987 0.01 Engineering Co Ltd 76,948 0.01 2,513 Orion Corp/Republic of Korea 221,390 0.04 4,987 DB Insurance Co Ltd 301,830 0.06 117 Ottogi Corp 79,471 0.02 13,041 DGB Financial Group Inc 93,864 0.02 23,195 Pan Ocean Co Ltd 83,985 0.02 3,807 Doosan Bobcat Inc 103,635 0.02 499 Pearl Abyss Corp 73,854 0.01 2,040 E-MART Inc 309,118 0.06 7,656 POSCO 1,706,429 0.34 4,270 Fila Korea Ltd 293,419 0.06 2,011 POSCO Chemical Co Ltd 106,653 0.02 5,156 GS Engineering & Construction Corp 193,503 0.04 4,016 Posco International Corp 62,800 0.01 4,318 GS Holdings Corp 200,855 0.04 1,728 S-1 Corp 152,994 0.03 2,730 GS Retail Co Ltd 94,159 0.02 4,217 S-Oil Corp 332,872 0.07 29,197 Hana Financial Group Inc 936,279 0.18 1,676 Samsung Biologics Co Ltd 471,749 0.09 6,388 Hankook Tire Co Ltd 210,757 0.04 7,403 Samsung C&T Corp 697,843 0.14 612 Hanmi Pharm Co Ltd 245,857 0.05 2,826 Samsung Card Co Ltd 85,644 0.02 1,133 Hanmi Science Co Ltd 77,257 0.02 5,465 Samsung Electro-Mechanics Co Ltd 503,121 0.10 15,282 Hanon Systems 152,807 0.03 456,240 Samsung Electronics Co Ltd 17,946,539 3.55 11,720 Hanwha Chemical Corp 215,794 0.04 79,679 Samsung Electronics Co Ltd (Pref) 2,544,590 0.50 23,568 Hanwha Life Insurance Co Ltd 83,052 0.02 13,449 Samsung Engineering Co Ltd 190,758 0.04 2,333 HDC Hyundai Development 3,004 Samsung Fire & Marine Insurance Co-Engineering & Construction 104,205 0.02 Co Ltd 796,585 0.16 2,820 HLB Inc 198,749 0.04 39,543 Samsung Heavy Industries Co Ltd 287,750 0.06 3,113 Hotel Shilla Co Ltd 261,634 0.05 7,086 Samsung Life Insurance Co Ltd 525,005 0.10 1,651 Hyundai Department Store Co Ltd 146,904 0.03 5,284 Samsung SDI Co Ltd 998,518 0.20 8,251 Hyundai Engineering & 3,094 Samsung SDS Co Ltd 640,552 0.13 Construction Co Ltd 388,163 0.08 5,879 Samsung Securities Co Ltd 172,470 0.03 1,744 Hyundai Glovis Co Ltd 197,431 0.04 41,560 Shinhan Financial Group Co Ltd 1,537,768 0.30 3,819 Hyundai Heavy Industries Co Ltd 400,371 0.08 680 Shinsegae Inc 202,185 0.04 945 Hyundai Heavy Industries Holdings 5,075 SillaJen Inc 287,483 0.06 Co Ltd 277,231 0.05 3,089 SK Holdings Co Ltd 736,124 0.15 6,290 Hyundai Marine & Fire Insurance 55,669 SK Hynix Inc 3,639,010 0.72 Co Ltd 210,018 0.04 6,315 SK Innovation Co Ltd 998,628 0.20 6,648 Hyundai Mobis Co Ltd 1,221,133 0.24 2,045 SK Telecom Co Ltd 453,103 0.09 13,562 Hyundai Motor Co 1,427,768 0.28 1,231 ViroMed Co Ltd 303,439 0.06 3,183 Hyundai Motor Co (Pref) 213,957 0.04 42,832 WOORI FINANCIAL GROUP Inc 518,844 0.10 2,588 Hyundai Motor Co (Pref) 157,774 0.03 920 Yuhan Corp 194,520 0.04 6,973 Hyundai Steel Co 275,824 0.05 65,988,351 13.05 24,585 Industrial Bank of Korea 304,307 0.06 4,464 Kakao Corp 407,034 0.08 Taiwan 12,279 Kangwon Land Inc 346,162 0.07 255,000 Acer Inc 163,406 0.03 38,752 KB Financial Group Inc 1,428,747 0.28 28,134 Advantech Co Ltd 233,686 0.05 514 KCC Corp 144,224 0.03 337,041 ASE Technology Holding Co Ltd 738,154 0.15 25,706 Kia Motors Corp 800,552 0.16 206,689 Asia Cement Corp 268,919 0.05 7,587 Korea Aerospace Industries Ltd 236,279 0.05 66,000 Asustek Computer Inc 477,539 0.09 25,971 Korea Electric Power Corp 684,110 0.13 845,000 AU Optronics Corp 311,181 0.06 3,005 Korea Gas Corp 119,395 0.02 57,000 Catcher Technology Co Ltd 438,312 0.09 4,240 Korea Investment Holdings Co Ltd 231,965 0.05 796,611 Cathay Financial Holding Co Ltd 1,161,813 0.23 724 Korea Zinc Co Ltd 296,591 0.06 438,989 Chang Hwa Commercial Bank Ltd 262,791 0.05 4,568 Korean Air Lines Co Ltd 128,174 0.03 210,600 Cheng Shin Rubber Industry Co Ltd 286,649 0.06 3 KT Corp 72 0.00 58,290 Chicony Electronics Co Ltd 135,604 0.03 11,385 KT&G Corp 1,038,100 0.20 301,423 China Airlines Ltd 96,430 0.02 1,447 Kumho Petrochemical Co Ltd 121,359 0.02 1,247,000 China Development Financial 4,477 LG Chem Ltd 1,443,557 0.29 Holding Corp 416,739 0.08 771 LG Chem Ltd (Pref) 141,281 0.03 230,237 China Life Insurance Co Ltd/Taiwan 195,347 0.04 9,259 LG Corp 632,167 0.12 1,227,973 China Steel Corp 1,008,021 0.20 21,762 LG Display Co Ltd 373,852 0.07 371,000 Chunghwa Telecom Co Ltd 1,318,100 0.26 10,378 LG Electronics Inc 686,625 0.14 402,000 Compal Electronics Inc 249,779 0.05 914 LG Household & Health Care Ltd 1,140,990 0.23 1,712,193 CTBC Financial Holding Co Ltd 1,136,073 0.22 195 LG Household & Health Care Ltd 202,290 Delta Electronics Inc 1,043,595 0.21 (Pref) 143,617 0.03 945,875 E.Sun Financial Holding Co Ltd 728,883 0.14 1,801 LG Innotek Co Ltd 186,431 0.04 15,958 Eclat Textile Co Ltd 214,875 0.04 11,248 LG Uplus Corp 153,098 0.03 250,296 Eva Airways Corp 122,628 0.02 1,474 Lotte Chemical Corp 377,233 0.07 236,113 Evergreen Marine Corp Taiwan Ltd 91,548 0.02 3,127 Lotte Corp 136,088 0.03 308,830 Far Eastern New Century Corp 305,118 0.06 1,220 Lotte Shopping Co Ltd 191,314 0.04 166,000 Far EasTone Telecommunications 473 Medy-Tox Inc 243,271 0.05 Co Ltd 400,182 0.08 36,816 Mirae Asset Daewoo Co Ltd 237,742 0.05 38,081 Feng TAY Enterprise Co Ltd 269,355 0.05 13,668 NAVER Corp 1,493,113 0.29
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [35] iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Taiwan continued Thailand 940,770 First Financial Holding Co Ltd 644,060 0.13 99,000 Advanced Info Service PCL 574,003 0.11 342,680 Formosa Chemicals & Fibre Corp 1,245,280 0.25 10,200 Advanced Info Service PCL NVDR 59,140 0.01 116,000 Formosa Petrochemical Corp 434,711 0.09 399,000 Airports of Thailand PCL 854,955 0.17 434,840 Formosa Plastics Corp 1,544,913 0.31 24,200 Bangkok Bank PCL Reg 164,714 0.03 82,000 Formosa Taffeta Co Ltd 97,909 0.02 220,300 Bangkok Dusit Medical Services 73,875 Foxconn Technology Co Ltd 147,412 0.03 PCL ‘F’ 172,158 0.04 650,000 Fubon Financial Holding Co Ltd 970,134 0.19 157,900 Bangkok Dusit Medical Services 39,000 Giant Manufacturing Co Ltd 278,386 0.05 PCL NVDR 123,394 0.03 16,000 Globalwafers Co Ltd 157,298 0.03 812,700 Bangkok Expressway & Metro PCL* 258,650 0.05 59,000 Highwealth Construction Corp 97,247 0.02 187,500 Banpu PCL NVDR 95,715 0.02 24,478 Hiwin Technologies Corp 206,495 0.04 129,900 Berli Jucker PCL 202,617 0.04 1,258,778 Hon Hai Precision Industry Co Ltd 3,001,904 0.59 576,100 BTS Group Holdings PCL* 199,688 0.04 24,000 Hotai Motor Co Ltd 293,960 0.06 64,011 BTS Group Holdings PCL 772,258 Hua Nan Financial Holdings Co Ltd 486,099 0.10 (Wts 29/11/2019) 2,259 0.00 914,331 Innolux Corp 296,663 0.06 45,300 Bumrungrad Hospital PCL 256,227 0.05 293,000 Inventec Corp 222,931 0.04 118,100 Central Pattana PCL 272,596 0.05 9,000 Largan Precision Co Ltd 1,343,262 0.27 23,700 Central Pattana PCL NVDR 54,704 0.01 201,887 Lite-On Technology Corp 293,786 0.06 375,900 Charoen Pokphand Foods PCL* 302,047 0.06 146,086 MediaTek Inc 1,339,021 0.26 440,800 CP ALL PCL 1,038,279 0.21 1,061,585 Mega Financial Holding Co Ltd 966,158 0.19 51,000 CP ALL PCL NVDR 120,128 0.02 73,000 Micro-Star International Co Ltd 204,880 0.04 70,000 Delta Electronics Thailand PCL 156,609 0.03 503,320 Nan Ya Plastics Corp 1,288,491 0.25 127,600 Energy Absolute PCL NVDR 192,998 0.04 75,000 Nanya Technology Corp 149,414 0.03 49,700 Glow Energy PCL 142,515 0.03 16,000 Nien Made Enterprise Co Ltd 140,945 0.03 384,900 Home Product Center PCL NVDR 185,567 0.04 50,000 Novatek Microelectronics Corp 321,215 0.06 151,500 Indorama Ventures PCL NVDR 237,502 0.05 166,000 Pegatron Corp 287,075 0.06 196,600 IRPC PCL 35,622 0.01 16,000 Phison Electronics Corp 156,779 0.03 1,187,900 IRPC PCL NVDR 215,233 0.04 224,000 Pou Chen Corp 272,909 0.05 128,860 Kasikornbank PCL 763,374 0.15 79,000 Powertech Technology Inc 186,603 0.04 33,200 Kasikornbank PCL NVDR 196,156 0.04 53,000 President Chain Store Corp 521,909 0.10 327,700 Krung Thai Bank PCL* 198,262 0.04 264,000 Quanta Computer Inc 495,099 0.10 205,800 Minor International PCL NVDR 252,913 0.05 50,000 Realtek Semiconductor Corp 295,258 0.06 144,900 PTT Exploration & Production PCL 573,025 0.11 18,268 Ruentex Development Co Ltd 27,621 0.01 214,800 PTT Global Chemical PCL 455,185 0.09 30,600 Ruentex Industries Ltd 80,321 0.02 1,038,000 PTT PCL 1,570,002 0.31 272,000 Shanghai Commercial & Savings 37,700 Siam Cement PCL/The Reg* 572,598 0.11 Bank Ltd/The 429,792 0.08 191,200 Siam Commercial Bank PCL/The 795,286 0.16 946,772 Shin Kong Financial Holding Co Ltd 278,928 0.05 113,400 Thai Oil PCL 248,347 0.05 1,058,476 SinoPac Financial Holdings Co Ltd 391,513 0.08 264,200 Thai Union Group PCL ‘F’ 160,676 0.03 56,160 Standard Foods Corp 94,388 0.02 1,067,678 True Corp PCL 160,143 0.03 164,850 Synnex Technology International 11,863,287 2.35 Corp 197,902 0.04 16,000 TaiMed Biologics Inc 87,215 0.02 Turkey 901,461 Taishin Financial Holding Co Ltd 410,945 0.08 298,285 Akbank T.A.S.* 332,251 0.07 416,000 Taiwan Business Bank 161,970 0.03 29,624 Arcelik AS* 88,273 0.02 448,900 Taiwan Cement Corp 600,805 0.12 20,680 Aselsan Elektronik Sanayi Ve 791,605 Taiwan Cooperative Financial Ticaret AS* 77,834 0.01 Holding Co Ltd 500,845 0.10 21,150 BIM Birlesik Magazalar AS* 287,352 0.06 183,000 Taiwan High Speed Rail Corp 213,754 0.04 124,308 Eregli Demir ve Celik Fabrikalari 149,000 Taiwan Mobile Co Ltd 539,041 0.11 TAS* 202,182 0.04 2,357,177 Taiwan Semiconductor 95,166 Haci Omer Sabanci Holding AS* 130,984 0.03 Manufacturing Co Ltd 18,776,040 3.71 82,890 KOC Holding AS* 238,173 0.05 163,000 Tatung Co Ltd 128,515 0.02 93,655 Petkim Petrokimya Holding AS* 75,582 0.01 471,028 Uni-President Enterprises Corp 1,143,164 0.23 21,296 TAV Havalimanlari Holding AS* 88,689 0.02 1,023,000 United Microelectronics Corp 386,689 0.08 11,969 Tupras Turkiye Petrol Rafinerileri AS* 264,091 0.05 90,000 Vanguard International 53,854 Turk Hava Yollari AO* 123,220 0.02 Semiconductor Corp 194,189 0.04 100,614 Turkcell Iletisim Hizmetleri AS* 216,825 0.04 29,000 Walsin Technology Corp 188,186 0.04 241,358 Turkiye Garanti Bankasi AS* 354,888 0.07 36,000 Win Semiconductors Corp 254,052 0.05 77,575 Turkiye Halk Bankasi AS* 87,647 0.02 291,000 Winbond Electronics Corp 139,266 0.03 151,162 Turkiye Is Bankasi AS ‘C’ 147,998 0.03 284,039 Wistron Corp 218,417 0.04 147,200 WPG Holdings Ltd 191,997 0.04 2,715,989 0.54 20,367 Yageo Corp 213,447 0.04 926,577 Yuanta Financial Holding Co Ltd 527,617 0.10 United Arab Emirates 225,625 Abu Dhabi Commercial Bank PJSC 582,337 0.11 56,839,552 11.24 302,076 Aldar Properties PJSC 148,859 0.03 177,075 DAMAC Properties Dubai Co PJSC 65,083 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[36] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Other Transferable Securities and Money Market Instruments Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United Arab Emirates continued COMMON STOCKS (SHARES) 11,413 DP World Plc 182,608 0.04 207,622 Dubai Islamic Bank PJSC 276,980 0.05 Bermuda 78,050 EMAAR DEVELOPMENT PJSC 82,449 0.02 790,000 Hanergy Thin Film Power 170,867 Emaar Malls PJSC 80,944 0.02 Group Ltd** 1 0.00 365,994 Emaar Properties PJSC 466,336 0.09 1 0.00 188,738 Emirates Telecommunications Group Co PJSC 858,134 0.17 Cayman Islands 244,438 First Abu Dhabi Bank PJSC 1,015,552 0.20 319,484 China Huishan Dairy , 3,759,282 0.74 Holdings Co Ltd* ** 814 0.00 814 0.00 United States 6,057 Southern Copper Corp* 240,100 0.05 Greece 32,830 Yum China Holdings Inc 1,451,414 0.28 8,203 FF Group** 92 0.00 1,691,514 0.33 92 0.00 Total Common Stocks (Shares), Rights & Warrants 504,386,036 99.76 Total Common Stocks (Shares) 906 0.00 Total Transferable Securities and Money Total Other Transferable Securities Market Instruments Admitted to an and Money Market Instruments 906 0.00 Official Stock Exchange Listing or Securities portfolio at market value 504,386,943 99.76 Dealt in on Another Regulated Market 504,386,036 99.76 Other Net Assets 1,211,856 0.24 Total Net Assets (USD) 505,598,799 100.00
* All or a portion of this security represents a security on loan. ** Security subject to a fair value adjustment as detailed in Note 2(a).
Futures contracts as at 31 March 2019
Gross underlying Net unrealised Number of Currency Contract/ Expiration exposure (depreciation) contracts of contract Description date USD USD 34 USD MSCI Emerging Markets Index June 2019 1,791,970 (11,498) Total 1,791,970 (11,498)
Sector Breakdown as at 31 March 2019
% of Net Assets
Financial 27.42 Communications 18.94 Technology 12.69 Consumer, Non-cyclical 9.34 Energy 8.38 Consumer, Cyclical 7.29 Basic Materials 6.25 Industrial 6.07 Utilities 2.44 Diversified 0.94 Securities portfolio at market value 99.76 Other Net Assets 0.24 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [37] iShares Emerging Markets Government Bond Index Fund (LU)
iShares Emerging Markets Government Bond Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
BONDS Azerbaijan USD 4,900,000 Republic of Azerbaijan International Angola Bond RegS 4.75% 18/3/2024 5,077,625 0.23 USD 6,000,000 Angolan Government International USD 8,450,000 Southern Gas Corridor CJSC Bond RegS 9.50% 12/11/2025 6,847,500 0.30 RegS 6.875% 24/3/2026* 9,505,405 0.42 USD 7,400,000 Angolan Government International USD 4,050,000 State Oil Co of the Azerbaijan Bond RegS 8.25% 9/5/2028* 7,733,000 0.34 Republic RegS 4.75% 13/3/2023 4,163,400 0.18 USD 7,300,000 Angolan Government International USD 3,150,000 State Oil Co of the Azerbaijan Bond RegS 9.375% 8/5/2048* 7,903,345 0.35 Republic RegS 6.95% 18/3/2030 3,567,375 0.16 22,483,845 0.99 22,313,805 0.99
Argentina Bahrain USD 6,800,000 Argentine Republic Government USD 1,750,000 Bahrain Government International International Bond 6.875% Bond RegS 6.125% 5/7/2022 1,819,125 0.08 22/4/2021 6,215,200 0.28 USD 1,250,000 Bahrain Government International USD 5,000,000 Argentine Republic Government Bond RegS 6.125% 1/8/2023* 1,310,937 0.06 International Bond 5.625% USD 1,000,000 Bahrain Government International 26/1/2022 4,312,500 0.19 Bond RegS 7.00% 26/1/2026 1,082,500 0.05 USD 3,300,000 Argentine Republic Government USD 1,750,000 Bahrain Government International International Bond 4.625% Bond RegS 7.00% 12/10/2028 1,886,500 0.08 11/1/2023* 2,706,000 0.12 USD 1,150,000 Bahrain Government International USD 10,495,000 Argentine Republic Government Bond RegS 6.75% 20/9/2029* 1,208,937 0.05 International Bond 7.50% USD 1,250,000 Bahrain Government International 22/4/2026* 8,879,977 0.39 Bond RegS 6.00% 19/9/2044 1,164,063 0.05 USD 5,700,000 Argentine Republic Government USD 750,000 Bahrain Government International International Bond 6.875% Bond RegS 7.50% 20/9/2047* 797,813 0.03 26/1/2027* 4,605,600 0.20 USD 1,000,000 CBB International Sukuk Co 5 Spc USD 6,700,000 Argentine Republic Government RegS 5.624% 12/2/2024 1,037,500 0.05 International Bond 5.875% USD 1,000,000 CBB International Sukuk Co 6 Spc 11/1/2028* 5,137,393 0.23 RegS 5.25% 20/3/2025 1,007,500 0.04 USD 1,350,000 Argentine Republic Government USD 1,000,000 CBB International Sukuk Co 7 SPC International Bond 6.625% RegS 6.875% 5/10/2025 1,087,500 0.05 6/7/2028 1,061,498 0.05 USD 400,000 Oil and Gas Holding Co BSCC/The USD 2,264,291 Argentine Republic Government RegS 7.625% 7/11/2024 438,056 0.02 International Bond 8.28% USD 750,000 Oil and Gas Holding Co BSCC/The 31/12/2033 1,830,838 0.08 RegS 7.50% 25/10/2027 798,750 0.04 USD 6,898,027 Argentine Republic Government International Bond 8.28% 13,639,181 0.60 31/12/2033 5,711,290 0.25 USD 2,669,000 Argentine Republic Government Belarus International Bond 7.125% USD 925,000 Republic of Belarus International 6/7/2036 2,045,121 0.09 Bond ‘144A’ 7.625% 29/6/2027 999,000 0.05 USD 4,443,000 Argentine Republic Government USD 3,500,000 Republic of Belarus International International Bond 7.625% Bond RegS 6.875% 28/2/2023* 3,681,125 0.16 22/4/2046 3,493,242 0.15 USD 1,750,000 Republic of Belarus International USD 4,375,000 Argentine Republic Government Bond RegS 7.625% 29/6/2027 1,890,000 0.08 International Bond 6.875% USD 2,100,000 Republic of Belarus International 11/1/2048* 3,206,897 0.14 Bond RegS 6.20% 28/2/2030* 2,060,625 0.09 USD 4,370,000 Argentine Republic Government 8,630,750 0.38 International Bond 7.125% 28/6/2117 3,221,018 0.14 Belize USD 8,515,000 Argentine Republic Government USD 1,850,000 Belize Government International International Bond (Step-up Bond RegS (Step-up Coupon) Coupon) 3.75% 31/12/2038 4,908,898 0.22 4.938% 20/2/2034 1,095,131 0.05 57,335,472 2.53 1,095,131 0.05
Armenia Bolivia USD 1,800,000 Republic of Armenia International USD 1,450,000 Bolivian Government International Bond RegS 6.00% 30/9/2020* 1,843,200 0.08 Bond RegS 4.875% 29/10/2022 1,462,702 0.06 USD 2,100,000 Republic of Armenia International USD 1,450,000 Bolivian Government International Bond RegS 7.15% 26/3/2025* 2,337,899 0.10 Bond RegS 5.95% 22/8/2023* 1,509,791 0.07 4,181,099 0.18 USD 5,100,000 Bolivian Government International Bond RegS 4.50% 20/3/2028 4,781,377 0.21 Australia 7,753,870 0.34 USD 1,600,000 CNOOC Curtis Funding No 1 Pty Ltd RegS 4.50% 3/10/2023 1,680,766 0.07 1,680,766 0.07
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[38] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Brazil British Virgin Islands continued USD 1,400,000 Banco Nacional de USD 600,000 Chinalco Capital Holdings Ltd Desenvolvimento Economico e RegS 4.25% 21/4/2022 592,890 0.03 Social RegS 5.50% 12/7/2020 1,442,924 0.06 USD 550,000 CNRC Capitale Ltd RegS FRN USD 2,900,000 Banco Nacional de (Perpetual)* 543,953 0.02 Desenvolvimento Economico e USD 200,000 Dianjian Haixing Ltd RegS FRN Social RegS 5.75% 26/9/2023* 3,117,529 0.14 (Perpetual) 200,302 0.01 USD 5,150,000 Brazilian Government International USD 500,000 Dianjian Haiyu Ltd RegS FRN Bond 4.875% 22/1/2021 5,317,375 0.23 (Perpetual) 487,050 0.02 USD 4,150,000 Brazilian Government International USD 500,000 Huaneng Hong Kong Capital Ltd Bond 2.625% 5/1/2023 4,029,650 0.18 RegS FRN (Perpetual) 485,578 0.02 USD 2,100,000 Brazilian Government International USD 400,000 JIC Zhixin Ltd RegS 3.00% Bond 8.875% 15/4/2024 2,613,450 0.11 24/11/2022 393,872 0.02 USD 8,700,000 Brazilian Government International USD 500,000 King Power Capital Ltd RegS Bond 4.25% 7/1/2025 8,832,675 0.39 5.625% 3/11/2024 552,688 0.02 USD 1,175,000 Brazilian Government International USD 800,000 Leader Goal International Ltd RegS Bond 8.75% 4/2/2025 1,478,315 0.06 FRN (Perpetual) 794,828 0.04 USD 4,800,000 Brazilian Government International USD 300,000 Minmetals Bounteous Finance BVI Bond 6.00% 7/4/2026* 5,332,824 0.24 Ltd RegS 3.50% 30/7/2020 299,989 0.01 USD 1,400,000 Brazilian Government International USD 500,000 Minmetals Bounteous Finance BVI Bond 10.125% 15/5/2027 1,944,047 0.09 Ltd RegS 4.75% 30/7/2025* 523,108 0.02 USD 6,050,000 Brazilian Government International USD 700,000 Minmetals Bounteous Finance BVI Bond 4.625% 13/1/2028 6,108,564 0.27 Ltd RegS 4.20% 27/7/2026* 705,313 0.03 USD 1,100,000 Brazilian Government International USD 550,000 Prosperous Ray Ltd RegS 4.625% Bond 4.50% 30/5/2029 1,080,750 0.05 12/11/2023 574,481 0.03 USD 3,250,000 Brazilian Government International USD 600,000 Rongshi International Finance Ltd Bond 8.25% 20/1/2034 4,158,651 0.18 RegS 2.875% 4/5/2022 592,645 0.03 USD 4,000,000 Brazilian Government International USD 400,000 Rongshi International Finance Ltd Bond 7.125% 20/1/2037 4,719,940 0.21 RegS 3.625% 4/5/2027* 398,288 0.02 USD 4,700,000 Brazilian Government International USD 1,650,000 Sinochem Overseas Capital Co Ltd Bond 5.625% 7/1/2041 4,755,953 0.21 RegS 4.50% 12/11/2020* 1,683,214 0.07 USD 6,800,000 Brazilian Government International USD 400,000 Sinochem Overseas Capital Co Ltd Bond 5.00% 27/1/2045 6,283,200 0.28 RegS 6.30% 12/11/2040* 508,429 0.02 USD 5,800,000 Brazilian Government International USD 1,500,000 Sinopec Group Overseas Bond 5.625% 21/2/2047 5,778,250 0.25 Development 2012 Ltd RegS USD 1,300,000 Caixa Economica Federal RegS 3.90% 17/5/2022 1,530,832 0.07 3.50% 7/11/2022 1,277,673 0.06 USD 1,000,000 Sinopec Group Overseas USD 600,000 Caixa Economica Federal RegS Development 2012 Ltd RegS FRN 23/7/2024 608,136 0.03 4.875% 17/5/2042 1,125,002 0.05 68,879,906 3.04 USD 1,700,000 Sinopec Group Overseas Development 2013 Ltd RegS British Virgin Islands 4.375% 17/10/2023* 1,778,023 0.08 USD 12,500,000 1MDB Global Investments Ltd USD 600,000 Sinopec Group Overseas RegS 4.40% 9/3/2023* 11,726,687 0.52 Development 2013 Ltd RegS USD 400,000 CCTI 2017 Ltd RegS 3.625% 5.375% 17/10/2043* 718,226 0.03 8/8/2022 386,010 0.02 USD 1,300,000 Sinopec Group Overseas USD 300,000 CDBI Treasure I Ltd RegS 2.25% Development 2014 Ltd RegS 2/8/2021 291,372 0.01 4.375% 10/4/2024 1,363,758 0.06 USD 700,000 China Great Wall International USD 1,500,000 Sinopec Group Overseas Holdings III Ltd RegS 2.625% Development 2015 Ltd RegS 27/10/2021 685,671 0.03 3.25% 28/4/2025 1,489,667 0.07 USD 1,200,000 China Great Wall International USD 700,000 Sinopec Group Overseas Holdings III Ltd RegS 3.125% Development 2015 Ltd RegS 31/8/2022 1,185,102 0.05 4.10% 28/4/2045* 701,459 0.03 USD 1,450,000 China Great Wall International USD 900,000 Sinopec Group Overseas Holdings III Ltd RegS 4.375% Development 2016 Ltd RegS 25/5/2023* 1,493,340 0.07 2.75% 3/5/2021 893,570 0.04 USD 550,000 China Great Wall International USD 1,300,000 Sinopec Group Overseas Holdings III Ltd RegS 3.875% Development 2016 Ltd RegS 31/8/2027* 539,102 0.02 2.00% 29/9/2021* 1,264,792 0.06 USD 730,000 China Huadian Overseas USD 600,000 Sinopec Group Overseas Development 2018 Ltd RegS Development 2016 Ltd RegS 3.875% 17/5/2023 746,504 0.03 3.50% 3/5/2026 600,413 0.03 USD 500,000 China Southern Power Grid USD 700,000 Sinopec Group Overseas International Finance BVI 2018 Development 2016 Ltd RegS Co Ltd RegS 3.875% 18/9/2023 514,577 0.02 2.75% 29/9/2026 664,020 0.03 USD 800,000 Chinalco Capital Holdings Ltd USD 1,000,000 Sinopec Group Overseas RegS 4.00% 25/8/2021 795,508 0.04 Development 2017 Ltd RegS 2.25% 13/9/2020 990,564 0.04
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [39] iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
British Virgin Islands continued Cayman Islands continued USD 1,000,000 Sinopec Group Overseas USD 500,000 KSA Sukuk Ltd RegS 4.303% Development 2017 Ltd RegS 19/1/2029 517,750 0.02 3.00% 12/4/2022* 994,811 0.04 USD 2,450,000 Lamar Funding Ltd RegS 3.958% USD 1,900,000 Sinopec Group Overseas 7/5/2025* 2,130,900 0.10 Development 2017 Ltd RegS USD 1,850,000 Mumtalakat Sukuk Holding Co 2.50% 13/9/2022 1,855,175 0.08 RegS 5.625% 27/2/2024 1,855,550 0.08 USD 1,750,000 Sinopec Group Overseas USD 1,350,000 OmGrid Funding Ltd RegS 5.196% Development 2017 Ltd RegS 16/5/2027* 1,222,006 0.05 3.625% 12/4/2027 1,763,305 0.08 USD 750,000 Sharjah Sukuk Ltd RegS 3.764% USD 800,000 Sinopec Group Overseas 17/9/2024 754,687 0.03 Development 2017 Ltd RegS USD 1,725,000 Sharjah Sukuk Program Ltd RegS 3.25% 13/9/2027* 785,556 0.04 3.854% 3/4/2026 1,729,675 0.08 USD 900,000 Sinopec Group Overseas USD 300,000 Sharjah Sukuk Program Ltd RegS Development 2018 Ltd RegS 4.226% 14/3/2028 304,500 0.01 3.75% 12/9/2023* 918,412 0.04 USD 427,082 SPARC EM SPC Panama Metro USD 1,250,000 Sinopec Group Overseas Line 2 SP ‘144A’ 5/12/2022 Development 2018 Ltd RegS (Zero Coupon) 393,987 0.02 4.125% 12/9/2025* 1,303,836 0.06 USD 1,708,326 SPARC EM SPC Panama Metro USD 500,000 Sinopec Group Overseas Line 2 SP RegS 5/12/2022 Development 2018 Ltd RegS (Zero Coupon) 1,575,948 0.07 4.25% 12/9/2028 529,197 0.02 USD 500,000 Three Gorges Finance I Cayman USD 600,000 SPIC 2016 US dollar Bond Co Ltd Islands Ltd RegS 2.30% RegS 3.00% 6/12/2021* 595,443 0.03 2/6/2021 491,680 0.02 USD 750,000 Spic 2018 Usd Senior Perpetual USD 500,000 Three Gorges Finance I Cayman Bond Co Ltd RegS FRN Islands Ltd RegS 3.70% (Perpetual) 784,384 0.03 10/6/2025* 510,940 0.02 USD 1,200,000 State Grid Overseas Investment USD 1,600,000 Three Gorges Finance I Cayman 2013 Ltd RegS 3.125% 22/5/2023* 1,202,966 0.05 Islands Ltd RegS 3.15% 2/6/2026 1,571,728 0.07 USD 500,000 State Grid Overseas Investment 19,298,805 0.85 2013 Ltd RegS 4.375% 22/5/2043 533,887 0.02 USD 1,700,000 State Grid Overseas Investment Chile 2014 Ltd RegS 4.125% 7/5/2024 1,781,423 0.08 USD 800,000 Banco del Estado de Chile RegS USD 850,000 State Grid Overseas Investment 4.125% 7/10/2020 812,452 0.04 2014 Ltd RegS 4.85% 7/5/2044* 972,290 0.04 USD 1,500,000 Banco del Estado de Chile RegS USD 500,000 State Grid Overseas Investment 2.668% 8/1/2021* 1,483,125 0.07 2016 Ltd RegS 2.25% 4/5/2020 496,017 0.02 USD 1,850,000 Banco del Estado de Chile RegS USD 300,000 State Grid Overseas Investment 3.875% 8/2/2022 1,883,309 0.08 2016 Ltd RegS 2.125% 18/5/2021 294,178 0.01 USD 1,450,000 Chile Government International USD 1,500,000 State Grid Overseas Investment Bond 3.875% 5/8/2020 1,476,035 0.07 2016 Ltd RegS 2.75% 4/5/2022* 1,488,637 0.07 USD 1,200,000 Chile Government International USD 1,300,000 State Grid Overseas Investment Bond 3.25% 14/9/2021 1,219,500 0.05 2016 Ltd RegS 3.75% 2/5/2023 1,333,800 0.06 USD 2,775,000 Chile Government International USD 700,000 State Grid Overseas Investment Bond 2.25% 30/10/2022* 2,740,313 0.12 2016 Ltd RegS 2.875% 18/5/2026 675,703 0.03 USD 2,296,000 Chile Government International USD 2,500,000 State Grid Overseas Investment Bond 3.125% 21/1/2026* 2,336,180 0.10 2016 Ltd RegS 3.50% 4/5/2027* 2,507,607 0.11 USD 5,950,000 Chile Government International USD 1,050,000 State Grid Overseas Investment Bond 3.24% 6/2/2028* 6,074,950 0.27 2016 Ltd RegS 4.25% 2/5/2028* 1,114,275 0.05 USD 3,900,000 Chile Government International USD 500,000 State Grid Overseas Investment Bond 3.86% 21/6/2047* 3,984,825 0.18 2016 Ltd RegS 4.00% 4/5/2047 501,886 0.02 USD 1,750,000 Corp Nacional del Cobre de Chile USD 1,500,000 Sunny Express Enterprises Corp RegS 4.50% 13/8/2023 1,858,089 0.08 RegS 3.50% 21/3/2022* 1,514,335 0.07 USD 5,700,000 Corp Nacional del Cobre de Chile 64,767,950 2.86 RegS 4.50% 16/9/2025 6,047,187 0.27 USD 5,100,000 Corp Nacional del Cobre de Chile Cayman Islands RegS 3.625% 1/8/2027* 5,104,564 0.23 USD 500,000 AHB Sukuk Co Ltd RegS 4.375% USD 550,000 Corp Nacional del Cobre de Chile 19/9/2023 512,563 0.02 RegS 5.625% 21/9/2035 643,035 0.03 USD 1,200,000 Amber Circle Funding Ltd RegS USD 750,000 Corp Nacional del Cobre de Chile 3.25% 4/12/2022* 1,200,012 0.05 RegS 6.15% 24/10/2036* 931,275 0.04 USD 500,000 Avi Funding Co Ltd RegS 2.85% USD 1,950,000 Corp Nacional del Cobre de Chile 16/9/2020* 498,652 0.02 RegS 4.25% 17/7/2042 1,960,871 0.09 USD 800,000 Avi Funding Co Ltd RegS 3.80% USD 2,550,000 Corp Nacional del Cobre de Chile 16/9/2025 811,548 0.04 RegS 5.625% 18/10/2043* 3,057,271 0.13 USD 1,230,000 KSA Sukuk Ltd RegS 2.894% USD 2,500,000 Corp Nacional del Cobre de Chile 20/4/2022 1,226,679 0.06 RegS 4.875% 4/11/2044 2,724,313 0.12 USD 2,000,000 KSA Sukuk Ltd RegS 3.628% USD 4,250,000 Corp Nacional del Cobre de Chile 20/4/2027* 1,990,000 0.09 RegS 4.50% 1/8/2047 4,399,982 0.19
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[40] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Chile continued Colombia USD 3,400,000 Corp Nacional del Cobre de Chile USD 4,850,000 Colombia Government International RegS 4.375% 5/2/2049 3,444,676 0.15 Bond 4.375% 12/7/2021 4,984,588 0.22 USD 1,100,000 Empresa de Transporte de USD 2,700,000 Colombia Government International Pasajeros Metro SA RegS Bond 2.625% 15/3/2023* 2,647,161 0.12 4.75% 4/2/2024* 1,161,309 0.05 USD 5,400,000 Colombia Government International USD 1,600,000 Empresa de Transporte de Bond 4.00% 26/2/2024 5,562,027 0.25 Pasajeros Metro SA RegS USD 2,425,000 Colombia Government International 5.00% 25/1/2047* 1,684,248 0.07 Bond 8.125% 21/5/2024* 2,946,120 0.13 USD 1,500,000 Empresa Nacional del Petroleo USD 3,650,000 Colombia Government International RegS 4.375% 30/10/2024 1,550,250 0.07 Bond 4.50% 28/1/2026 3,863,525 0.17 USD 1,800,000 Empresa Nacional del Petroleo USD 5,900,000 Colombia Government International RegS 3.75% 5/8/2026 1,782,711 0.08 Bond 3.875% 25/4/2027 6,012,129 0.26 USD 2,000,000 Empresa Nacional del Petroleo USD 5,250,000 Colombia Government International RegS 5.25% 6/11/2029 2,155,115 0.09 Bond 4.50% 15/3/2029 5,559,750 0.25 USD 1,400,000 Empresa Nacional del Petroleo USD 4,550,000 Colombia Government International RegS 4.50% 14/9/2047 1,332,660 0.06 Bond 7.375% 18/9/2037 5,958,953 0.26 USD 6,000,000 Colombia Government International 61,848,245 2.73 Bond 6.125% 18/1/2041* 7,085,550 0.31 USD 6,000,000 Colombia Government International China Bond 5.625% 26/2/2044* 6,774,000 0.30 USD 750,000 Agricultural Development Bank of USD 11,250,000 Colombia Government International China RegS FRN 27/9/2021 752,666 0.03 Bond 5.00% 15/6/2045 11,829,375 0.52 USD 500,000 China Development Bank Corp/ USD 3,750,000 Colombia Government International Hong Kong RegS FRN 6/3/2020 500,107 0.02 Bond 5.20% 15/5/2049 4,027,500 0.18 USD 1,500,000 China Development Bank Corp/ 67,250,678 2.97 Hong Kong RegS FRN 6/3/2022* 1,501,379 0.07 USD 1,900,000 China Development Bank RegS 2.50% 9/10/2020 1,889,612 0.08 Costa Rica USD 1,450,000 China Development Bank RegS USD 822,000 Banco Nacional de Costa Rica 2.125% 1/6/2021 1,426,720 0.06 RegS 5.875% 25/4/2021 825,222 0.04 USD 1,800,000 Banco Nacional de Costa Rica USD 1,250,000 China Development Bank RegS RegS 6.25% 1/11/2023 1,809,873 0.08 2.625% 24/1/2022 1,240,481 0.06 USD 4,500,000 Costa Rica Government USD 600,000 China Development Bank RegS International Bond RegS 4.25% 3.00% 1/6/2026* 586,011 0.03 26/1/2023 4,296,262 0.19 USD 600,000 China Development Bank RegS USD 1,800,000 Costa Rica Government 3.375% 24/1/2027* 599,100 0.03 International Bond RegS 4.375% USD 400,000 China Development Bank RegS 30/4/2025* 1,668,591 0.07 4.00% 24/1/2037 401,336 0.02 USD 2,800,000 Costa Rica Government USD 1,000,000 China Government International International Bond RegS 5.625% Bond RegS 2.125% 2/11/2022* 982,658 0.04 30/4/2043 2,401,084 0.11 USD 1,750,000 China Government International USD 3,750,000 Costa Rica Government Bond RegS 3.25% 19/10/2023 1,793,269 0.08 International Bond RegS 7.00% USD 1,150,000 China Government International 4/4/2044 3,613,163 0.16 Bond RegS 2.625% 2/11/2027 1,123,780 0.05 USD 4,150,000 Costa Rica Government USD 1,250,000 China Government International International Bond RegS 7.158% Bond RegS 3.50% 19/10/2028 1,311,229 0.06 12/3/2045 4,046,250 0.18 USD 600,000 China Government International USD 2,100,000 Instituto Costarricense de Bond RegS 4.00% 19/10/2048 629,238 0.03 Electricidad RegS 6.95% USD 1,500,000 China Minmetals Corp RegS FRN 10/11/2021 2,089,584 0.09 (Perpetual) 1,468,853 0.07 USD 2,100,000 Instituto Costarricense de USD 1,200,000 Export-Import Bank of China/The Electricidad RegS 6.375% RegS 2.00% 26/4/2021 1,178,472 0.05 15/5/2043 1,678,299 0.07 USD 1,150,000 Export-Import Bank of China/The RegS 2.625% 14/3/2022* 1,141,430 0.05 22,428,328 0.99 USD 750,000 Export-Import Bank of China/The RegS 2.75% 28/11/2022 745,592 0.03 Croatia USD 1,550,000 Export-Import Bank of China/The USD 3,900,000 Croatia Government International RegS 3.625% 31/7/2024* 1,584,147 0.07 Bond RegS 6.625% 14/7/2020 4,075,695 0.18 USD 1,200,000 Export-Import Bank of China/The USD 7,100,000 Croatia Government International RegS 2.875% 26/4/2026 1,158,558 0.05 Bond RegS 6.375% 24/3/2021 7,494,760 0.33 USD 1,000,000 Export-Import Bank of China/The USD 7,300,000 Croatia Government International RegS 3.375% 14/3/2027* 994,940 0.04 Bond RegS 5.50% 4/4/2023 7,835,637 0.35 USD 755,000 Export-Import Bank of China/The USD 6,700,000 Croatia Government International RegS 3.25% 28/11/2027* 743,403 0.03 Bond RegS 6.00% 26/1/2024 7,512,375 0.33 USD 600,000 Export-Import Bank of China/The USD 1,950,000 Hrvatska Elektroprivreda RegS RegS 4.00% 28/11/2047* 607,848 0.03 5.875% 23/10/2022 2,079,090 0.09 24,360,829 1.08 28,997,557 1.28
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [41] iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Dominican Republic El Salvador USD 5,750,000 Dominican Republic International USD 500,000 El Salvador Government Bond RegS 7.50% 6/5/2021 5,988,625 0.26 International Bond RegS USD 1,800,000 Dominican Republic International 7.375% 1/12/2019 506,548 0.02 Bond RegS 6.60% 28/1/2024 1,939,500 0.09 USD 2,375,000 El Salvador Government USD 4,300,000 Dominican Republic International International Bond RegS Bond RegS 5.875% 18/4/2024 4,504,250 0.20 7.75% 24/1/2023* 2,511,563 0.11 USD 6,150,000 Dominican Republic International USD 2,850,000 El Salvador Government Bond RegS 5.50% 27/1/2025* 6,300,675 0.28 International Bond RegS USD 6,200,000 Dominican Republic International 5.875% 30/1/2025 2,783,153 0.12 Bond RegS 6.875% 29/1/2026 6,801,400 0.30 USD 3,550,000 El Salvador Government USD 6,050,000 Dominican Republic International International Bond RegS Bond RegS 5.95% 25/1/2027 6,307,125 0.28 6.375% 18/1/2027 3,496,750 0.15 USD 6,075,000 Dominican Republic International USD 2,575,000 El Salvador Government Bond RegS 6.00% 19/7/2028 6,395,608 0.28 International Bond RegS USD 5,800,000 Dominican Republic International 8.625% 28/2/2029 2,853,100 0.13 Bond RegS 7.45% 30/4/2044 6,513,400 0.29 USD 1,600,000 El Salvador Government USD 7,500,000 Dominican Republic International International Bond RegS Bond RegS 6.85% 27/1/2045 7,965,000 0.35 8.25% 10/4/2032 1,720,000 0.08 USD 4,950,000 Dominican Republic International USD 5,275,000 El Salvador Government Bond RegS 6.50% 15/2/2048* 5,135,081 0.23 International Bond RegS 57,850,664 2.56 7.65% 15/6/2035* 5,472,812 0.24 USD 2,600,000 El Salvador Government Ecuador International Bond RegS USD 8,900,000 Ecuador Government International 7.625% 1/2/2041 2,655,250 0.12 Bond RegS 10.75% 28/3/2022* 9,940,499 0.44 21,999,176 0.97 USD 4,000,000 Ecuador Government International Bond RegS 8.75% 2/6/2023* 4,195,000 0.19 Ethiopia USD 6,850,000 Ecuador Government International USD 4,250,000 Ethiopia International Bond RegS Bond RegS 7.95% 20/6/2024* 6,860,652 0.30 6.625% 11/12/2024 4,328,625 0.19 USD 6,250,000 Ecuador Government International Bond RegS 9.65% 13/12/2026 6,548,563 0.29 4,328,625 0.19 USD 3,200,000 Ecuador Government International Bond RegS 9.625% 2/6/2027 3,341,600 0.15 Gabon USD 9,725,000 Ecuador Government International USD 6,150,000 Gabon Government International Bond RegS 8.875% 23/10/2027 9,717,706 0.43 Bond RegS 6.375% 12/12/2024 5,873,250 0.26 USD 11,150,000 Ecuador Government International USD 2,900,000 Gabon Government International Bond RegS 7.875% 23/1/2028 10,580,346 0.47 Bond RegS 6.95% 16/6/2025* 2,765,875 0.12 USD 3,775,000 Ecuador Government International 8,639,125 0.38 Bond RegS 10.75% 31/1/2029 4,177,981 0.18 55,362,347 2.45 Georgia USD 2,500,000 Georgia Government International Egypt Bond RegS 6.875% 12/4/2021 2,647,163 0.12 USD 9,510,000 Egypt Government International USD 1,550,000 Georgian Railway JSC RegS Bond RegS 6.125% 31/1/2022 9,664,537 0.43 7.75% 11/7/2022 1,666,250 0.07 USD 4,300,000 Egypt Government International 4,313,413 0.19 Bond RegS 5.577% 21/2/2023* 4,267,750 0.19 USD 1,500,000 Egypt Government International Ghana Bond RegS 6.20% 1/3/2024* 1,509,375 0.07 USD 3,544,194 Ghana Government International USD 5,450,000 Egypt Government International Bond RegS 7.875% 7/8/2023 3,712,543 0.16 Bond RegS 5.875% 11/6/2025* 5,409,125 0.24 USD 4,100,000 Ghana Government International USD 7,750,000 Egypt Government International Bond RegS 8.125% 18/1/2026 4,223,000 0.19 Bond RegS 7.50% 31/1/2027* 8,093,906 0.36 USD 475,000 Ghana Government International USD 4,700,000 Egypt Government International Bond RegS 7.875% 26/3/2027 480,268 0.02 Bond RegS 6.588% 21/2/2028* 4,641,250 0.20 USD 3,925,000 Ghana Government International USD 3,525,000 Egypt Government International Bond RegS 7.625% 16/5/2029* 3,861,219 0.17 Bond RegS 7.60% 1/3/2029 3,626,344 0.16 USD 1,525,000 Ghana Government International USD 1,900,000 Egypt Government International Bond RegS 8.125% 26/3/2032 1,521,424 0.07 Bond RegS 6.875% 30/4/2040* 1,733,750 0.08 USD 4,300,000 Ghana Government International USD 8,950,000 Egypt Government International Bond RegS 8.627% 16/6/2049 4,144,125 0.18 Bond RegS 8.50% 31/1/2047 9,084,250 0.40 USD 500,000 Ghana Government International USD 5,650,000 Egypt Government International Bond RegS 8.95% 26/3/2051 502,830 0.02 Bond RegS 7.903% 21/2/2048 5,494,625 0.24 USD 2,200,000 Egypt Government International 18,445,409 0.81 Bond RegS 8.70% 1/3/2049 2,290,750 0.10 55,815,662 2.47
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[42] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Guatemala India continued USD 2,150,000 Guatemala Government Bond USD 1,500,000 Indian Railway Finance Corp Ltd RegS 5.75% 6/6/2022* 2,253,071 0.10 RegS 3.73% 29/3/2024 1,500,308 0.07 USD 3,150,000 Guatemala Government Bond USD 1,750,000 Indian Railway Finance Corp Ltd RegS 4.50% 3/5/2026 3,079,125 0.14 RegS 3.835% 13/12/2027* 1,711,281 0.07 USD 2,300,000 Guatemala Government Bond 20,075,488 0.89 RegS 4.375% 5/6/2027 2,225,791 0.10 USD 3,050,000 Guatemala Government Bond RegS 4.875% 13/2/2028* 3,042,466 0.13 Indonesia USD 900,000 Indonesia Asahan Aluminium 10,600,453 0.47 Persero PT RegS 5.23% 15/11/2021 937,125 0.04 Honduras USD 1,700,000 Indonesia Asahan Aluminium USD 1,550,000 Honduras Government Persero PT RegS 5.71% International Bond RegS 8.75% 15/11/2023 1,839,366 0.08 16/12/2020 1,675,550 0.07 USD 825,000 Indonesia Asahan Aluminium USD 1,550,000 Honduras Government Persero PT RegS 6.53% International Bond RegS 7.50% 15/11/2028* 942,563 0.04 15/3/2024* 1,700,738 0.08 USD 1,050,000 Indonesia Asahan Aluminium USD 3,300,000 Honduras Government Persero PT RegS 6.757% International Bond RegS 6.25% 15/11/2048* 1,211,441 0.05 19/1/2027 3,486,714 0.15 USD 1,150,000 Indonesia Government 6,863,002 0.30 International Bond 2.95% 11/1/2023* 1,141,013 0.05 Hong Kong USD 850,000 Indonesia Government USD 500,000 CNAC HK Finbridge Co Ltd RegS International Bond 4.45% 3.00% 19/7/2020 497,844 0.02 11/2/2024* 887,353 0.04 USD 1,450,000 CNAC HK Finbridge Co Ltd RegS USD 1,150,000 Indonesia Government 4.125% 14/3/2021 1,469,096 0.07 International Bond 3.50% USD 1,500,000 CNAC HK Finbridge Co Ltd RegS 11/1/2028* 1,120,807 0.05 3.50% 19/7/2022 1,498,470 0.07 USD 1,700,000 Indonesia Government USD 1,595,000 CNAC HK Finbridge Co Ltd RegS International Bond 4.10% 4.625% 14/3/2023 1,652,867 0.07 24/4/2028 1,728,687 0.08 USD 1,100,000 CNAC HK Finbridge Co Ltd RegS USD 1,225,000 Indonesia Government 4.875% 14/3/2025 1,162,320 0.05 International Bond 4.75% USD 800,000 CNAC HK Finbridge Co Ltd RegS 11/2/2029 1,312,196 0.06 4.125% 19/7/2027 807,280 0.04 USD 2,200,000 Indonesia Government USD 2,150,000 CNAC HK Finbridge Co Ltd RegS International Bond 4.35% 5.125% 14/3/2028* 2,318,356 0.10 11/1/2048* 2,170,190 0.10 USD 1,125,000 Indonesia Government 9,406,233 0.42 International Bond 5.35% 11/2/2049* 1,249,493 0.06 Hungary USD 2,800,000 Indonesia Government USD 11,450,000 Hungary Government International International Bond RegS Bond 6.375% 29/3/2021 12,200,891 0.54 4.875% 5/5/2021 2,904,566 0.13 USD 7,750,000 Hungary Government International USD 350,000 Indonesia Government Bond 5.375% 21/2/2023* 8,378,331 0.37 International Bond RegS USD 9,100,000 Hungary Government International 3.70% 8/1/2022 354,821 0.02 Bond 5.75% 22/11/2023 10,069,377 0.44 USD 2,400,000 Indonesia Government USD 8,250,000 Hungary Government International International Bond RegS Bond 5.375% 25/3/2024 9,039,319 0.40 3.75% 25/4/2022* 2,435,004 0.11 USD 5,200,000 Hungary Government International USD 1,650,000 Indonesia Government Bond 7.625% 29/3/2041 7,715,110 0.34 International Bond RegS USD 2,600,000 MFB Magyar Fejlesztesi Bank Zrt 3.375% 15/4/2023 1,653,770 0.07 RegS 6.25% 21/10/2020 2,725,723 0.12 USD 1,350,000 Indonesia Government 50,128,751 2.21 International Bond RegS 5.375% 17/10/2023 1,463,333 0.06 India USD 2,200,000 Indonesia Government USD 1,400,000 Export-Import Bank of India RegS International Bond RegS 2.75% 12/8/2020 1,392,195 0.06 5.875% 15/1/2024 2,430,219 0.11 USD 2,550,000 Export-Import Bank of India RegS USD 2,250,000 Indonesia Government 3.125% 20/7/2021 2,540,131 0.11 International Bond RegS USD 2,650,000 Export-Import Bank of India RegS 4.125% 15/1/2025 2,309,670 0.10 4.00% 14/1/2023 2,698,150 0.12 USD 2,800,000 Indonesia Government USD 1,100,000 Export-Import Bank of India RegS International Bond RegS 3.875% 12/3/2024 1,109,257 0.05 4.75% 8/1/2026 2,961,798 0.13 USD 4,600,000 Export-Import Bank of India RegS USD 1,350,000 Indonesia Government 3.375% 5/8/2026 4,446,912 0.20 International Bond RegS USD 4,750,000 Export-Import Bank of India RegS 4.35% 8/1/2027 1,397,203 0.06 3.875% 1/2/2028 4,677,254 0.21
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [43] iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Indonesia continued Indonesia continued USD 1,300,000 Indonesia Government USD 550,000 Perusahaan Listrik Negara PT International Bond RegS RegS 5.25% 15/5/2047 547,154 0.02 3.85% 18/7/2027* 1,301,651 0.06 USD 1,350,000 Perusahaan Listrik Negara PT USD 1,800,000 Indonesia Government RegS 6.15% 21/5/2048 1,501,760 0.07 International Bond RegS USD 850,000 Perusahaan Listrik Negara PT 8.50% 12/10/2035 2,569,023 0.11 RegS 6.25% 25/1/2049 951,294 0.04 USD 1,650,000 Indonesia Government USD 600,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 3.40% 6.625% 17/2/2037* 2,024,962 0.09 29/3/2021 603,630 0.03 USD 2,700,000 Indonesia Government USD 900,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 3.40% 7.75% 17/1/2038 3,679,951 0.16 29/3/2022 902,367 0.04 USD 2,050,000 Indonesia Government USD 1,100,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 3.30% 5.25% 17/1/2042 2,206,979 0.10 21/11/2022* 1,100,996 0.05 USD 1,650,000 Indonesia Government USD 1,450,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 3.75% 4.625% 15/4/2043* 1,657,895 0.07 1/3/2023 1,465,819 0.06 USD 1,900,000 Indonesia Government USD 1,450,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 3.90% 6.75% 15/1/2044 2,439,904 0.11 20/8/2024 1,471,859 0.07 USD 2,100,000 Indonesia Government USD 1,500,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 4.35% 5.125% 15/1/2045* 2,237,025 0.10 10/9/2024* 1,551,817 0.07 USD 1,450,000 Indonesia Government USD 2,250,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 4.325% 5.95% 8/1/2046 1,708,723 0.08 28/5/2025* 2,317,072 0.10 USD 2,150,000 Indonesia Government USD 1,850,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 4.55% 5.25% 8/1/2047* 2,329,256 0.10 29/3/2026 1,927,931 0.09 USD 1,000,000 Indonesia Government USD 2,150,000 Perusahaan Penerbit SBSN International Bond RegS Indonesia III RegS 4.15% 4.75% 18/7/2047* 1,022,145 0.05 29/3/2027 2,177,681 0.10 USD 450,000 Lembaga Pembiayaan Ekspor USD 1,900,000 Perusahaan Penerbit SBSN Indonesia RegS 3.875% 6/4/2024 453,076 0.02 Indonesia III RegS 4.40% USD 1,650,000 Pelabuhan Indonesia II PT RegS 1/3/2028 1,954,435 0.09 4.25% 5/5/2025 1,670,361 0.07 USD 525,000 Perusahaan Penerbit SBSN USD 450,000 Pelabuhan Indonesia II PT RegS Indonesia III RegS 4.45% 5.375% 5/5/2045 445,142 0.02 20/2/2029 540,989 0.02 USD 550,000 Pelabuhan Indonesia III Persero 95,884,004 4.24 PT RegS 4.50% 2/5/2023* 564,438 0.02 USD 700,000 Pelabuhan Indonesia III Persero Iraq PT RegS 4.875% 1/10/2024* 730,685 0.03 USD 4,150,000 Iraq International Bond RegS USD 1,100,000 Pertamina Persero PT RegS 6.752% 9/3/2023* 4,233,000 0.19 5.25% 23/5/2021 1,144,545 0.05 USD 11,225,000 Iraq International Bond RegS USD 1,400,000 Pertamina Persero PT RegS 5.80% 15/1/2028 10,832,125 0.48 4.875% 3/5/2022 1,457,729 0.06 USD 1,800,000 Pertamina Persero PT RegS 15,065,125 0.67 4.30% 20/5/2023 1,853,667 0.08 USD 450,000 Pertamina Persero PT RegS Ireland 6.50% 27/5/2041 515,531 0.02 USD 700,000 GTLK Europe DAC RegS 5.95% USD 1,300,000 Pertamina Persero PT RegS 19/7/2021 706,804 0.03 6.00% 3/5/2042 1,414,283 0.06 USD 750,000 GTLK Europe DAC RegS 5.125% USD 2,150,000 Pertamina Persero PT RegS 31/5/2024 725,625 0.03 5.625% 20/5/2043 2,233,173 0.10 USD 2,250,000 Russian Railways Via RZD Capital USD 1,550,000 Pertamina Persero PT RegS Plc RegS 5.70% 5/4/2022 2,338,594 0.10 6.45% 30/5/2044* 1,773,928 0.08 USD 1,250,000 SCF Capital Designated Activity Co USD 1,050,000 Pertamina Persero PT RegS RegS 5.375% 16/6/2023 1,264,063 0.06 6.50% 7/11/2048 1,212,619 0.05 USD 2,300,000 Vnesheconombank Via VEB USD 1,100,000 Perusahaan Listrik Negara PT Finance Plc RegS 6.902% RegS 5.50% 22/11/2021 1,157,921 0.05 9/7/2020 2,366,125 0.11 USD 1,500,000 Perusahaan Listrik Negara PT USD 1,550,000 Vnesheconombank Via VEB RegS 4.125% 15/5/2027 1,476,285 0.07 Finance Plc RegS 6.025% USD 1,200,000 Perusahaan Listrik Negara PT 5/7/2022 1,612,000 0.07 RegS 5.45% 21/5/2028* 1,285,398 0.06 USD 2,500,000 Vnesheconombank Via VEB USD 900,000 Perusahaan Listrik Negara PT Finance Plc RegS 5.942% RegS 5.375% 25/1/2029 956,310 0.04 21/11/2023 2,597,375 0.12 USD 900,000 Perusahaan Listrik Negara PT RegS 5.25% 24/10/2042 895,977 0.04
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[44] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Ireland continued Kazakhstan continued USD 1,550,000 Vnesheconombank Via VEB USD 3,800,000 KazMunayGas National Co JSC Finance Plc RegS 6.80% RegS 5.375% 24/4/2030 3,992,223 0.18 22/11/2025 1,660,437 0.07 USD 4,150,000 KazMunayGas National Co JSC 13,271,023 0.59 RegS 5.75% 19/4/2047 4,331,562 0.19 USD 5,050,000 KazMunayGas National Co JSC RegS 6.375% 24/10/2048 5,529,043 0.24 Ivory Coast USD 2,460,000 KazTransGas JSC RegS 4.375% USD 1,750,000 Ivory Coast Government 26/9/2027 2,395,425 0.11 International Bond RegS 5.375% 23/7/2024 1,708,437 0.08 53,757,672 2.37 USD 4,800,000 Ivory Coast Government International Bond RegS 6.375% Kenya 3/3/2028* 4,722,000 0.21 USD 8,200,000 Kenya Government International USD 4,900,000 Ivory Coast Government Bond RegS 6.875% 24/6/2024* 8,394,750 0.37 International Bond RegS 6.125% USD 4,265,000 Kenya Government International 15/6/2033* 4,557,000 0.20 Bond RegS 7.25% 28/2/2028* 4,328,975 0.19 USD 7,692,500 Ivory Coast Government USD 4,150,000 Kenya Government International International Bond RegS (Step- Bond RegS 8.25% 28/2/2048 4,212,333 0.19 up Coupon) 5.75% 31/12/2032* 7,336,722 0.32 16,936,058 0.75 18,324,159 0.81 Kuwait Jamaica USD 4,850,000 Kuwait International Government USD 1,750,000 Jamaica Government International Bond RegS 3.50% 20/3/2027* 4,955,706 0.22 Bond 7.625% 9/7/2025* 2,002,367 0.09 4,955,706 0.22 USD 8,600,000 Jamaica Government International Bond 6.75% 28/4/2028 9,604,222 0.42 Lebanon USD 5,019,000 Jamaica Government International USD 1,350,000 Lebanon Government International Bond 8.00% 15/3/2039 6,044,407 0.27 Bond RegS 5.45% 28/11/2019* 1,319,416 0.06 USD 4,400,000 Jamaica Government International USD 5,900,000 Lebanon Government International Bond 7.875% 28/7/2045 5,300,812 0.23 Bond RegS 8.25% 12/4/2021 5,553,375 0.24 22,951,808 1.01 USD 4,400,000 Lebanon Government International Bond RegS 6.10% 4/10/2022* 3,831,784 0.17 Jordan USD 3,575,000 Lebanon Government International USD 4,250,000 Jordan Government International Bond RegS 6.00% 27/1/2023 3,061,094 0.13 Bond RegS 6.125% 29/1/2026 4,308,438 0.19 USD 2,350,000 Lebanon Government International USD 4,000,000 Jordan Government International Bond RegS 6.65% 22/4/2024 1,988,687 0.09 Bond RegS 5.75% 31/1/2027* 3,937,500 0.17 USD 2,100,000 Lebanon Government International USD 800,000 Jordan Government International Bond RegS 6.25% 4/11/2024 1,729,875 0.08 Bond RegS 7.375% 10/10/2047 USD 3,450,000 Lebanon Government International (traded in Ireland) 792,000 0.04 Bond RegS 6.20% 26/2/2025 2,837,625 0.13 USD 3,350,000 Jordan Government International USD 5,550,000 Lebanon Government International Bond RegS 7.375% 10/10/2047 Bond RegS 6.60% 27/11/2026 4,462,144 0.20 (traded in Luxembourg) 3,316,500 0.15 USD 5,050,000 Lebanon Government International Bond RegS 6.85% 23/3/2027 4,080,476 0.18 12,354,438 0.55 USD 3,800,000 Lebanon Government International Bond RegS 6.75% 29/11/2027 3,030,747 0.13 Kazakhstan USD 2,500,000 Lebanon Government International USD 3,400,000 Development Bank of Kazakhstan Bond RegS 6.65% 3/11/2028 JSC RegS 4.125% 10/12/2022 3,427,200 0.15 (traded in Lebanon) 1,970,100 0.09 USD 5,850,000 Kazakhstan Government USD 1,000,000 Lebanon Government International International Bond RegS 3.875% Bond RegS 6.65% 3/11/2028 14/10/2024* 6,037,200 0.27 (traded in Luxembourg) 788,040 0.03 USD 7,400,000 Kazakhstan Government USD 5,450,000 Lebanon Government International International Bond RegS 5.125% Bond RegS 6.65% 26/2/2030 4,197,563 0.19 21/7/2025* 8,073,400 0.36 USD 3,550,000 Lebanon Government International USD 3,700,000 Kazakhstan Government Bond RegS 7.00% 23/3/2032* 2,772,301 0.12 International Bond RegS 4.875% USD 1,700,000 Lebanon Government International 14/10/2044* 3,939,575 0.17 Bond RegS 7.05% 2/11/2035 1,311,525 0.06 USD 4,750,000 Kazakhstan Government USD 2,900,000 Lebanon Government International International Bond RegS 6.50% Bond RegS 7.25% 23/3/2037* 2,241,105 0.10 21/7/2045* 6,091,875 0.27 45,175,857 2.00 USD 2,500,000 Kazakhstan Temir Zholy National Co JSC RegS 4.85% 17/11/2027* 2,546,875 0.11 Lithuania USD 500,000 KazMunayGas National Co JSC USD 6,150,000 Lithuania Government International RegS 3.875% 19/4/2022 505,625 0.02 Bond RegS 6.125% 9/3/2021 6,515,064 0.29 USD 3,325,000 KazMunayGas National Co JSC USD 6,200,000 Lithuania Government International RegS 4.75% 24/4/2025* 3,443,869 0.15 Bond RegS 6.625% 1/2/2022* 6,817,892 0.30 USD 3,350,000 KazMunayGas National Co JSC RegS 4.75% 19/4/2027 3,443,800 0.15 13,332,956 0.59
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [45] iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Luxembourg Mexico continued USD 800,000 Russian Agricultural Bank OJSC USD 3,350,000 Mexico Government International Via RSHB Capital SA RegS Bond 4.15% 28/3/2027 3,417,837 0.15 8.50% 16/10/2023 833,256 0.04 USD 2,472,000 Mexico Government International USD 500,000 SPIC Luxembourg Latin America Bond 3.75% 11/1/2028 2,441,112 0.11 Renewable Energy Investment USD 2,125,000 Mexico Government International Co Sarl RegS 4.65% 30/10/2023 517,823 0.02 Bond 4.50% 22/4/2029 2,201,500 0.10 1,351,079 0.06 USD 1,100,000 Mexico Government International Bond 8.30% 15/8/2031 1,477,636 0.07 Malaysia USD 640,000 Mexico Government International USD 2,000,000 Export-Import Bank of Malaysia Bond 7.50% 8/4/2033 816,867 0.04 Bhd RegS 2.48% 20/10/2021 1,963,940 0.09 USD 1,550,000 Mexico Government International USD 4,250,000 Malaysia Sovereign Sukuk Bhd Bond 6.75% 27/9/2034 1,892,395 0.08 RegS 3.043% 22/4/2025 4,263,472 0.19 USD 3,300,000 Mexico Government International USD 2,200,000 Malaysia Sovereign Sukuk Bhd Bond 6.05% 11/1/2040* 3,782,641 0.17 RegS 4.236% 22/4/2045* 2,379,487 0.11 USD 4,950,000 Mexico Government International USD 4,300,000 Malaysia Sukuk Global Bhd RegS Bond 4.75% 8/3/2044 4,879,462 0.22 3.179% 27/4/2026* 4,322,403 0.19 USD 2,700,000 Mexico Government International USD 2,200,000 Malaysia Sukuk Global Bhd RegS Bond 5.55% 21/1/2045* 2,975,400 0.13 4.08% 27/4/2046* 2,331,681 0.10 USD 2,650,000 Mexico Government International USD 2,200,000 Petroliam Nasional Bhd RegS Bond 4.60% 23/1/2046 2,565,862 0.11 7.625% 15/10/2026* 2,817,794 0.12 USD 2,450,000 Mexico Government International USD 3,000,000 Petronas Capital Ltd RegS 3.125% Bond 4.35% 15/1/2047 2,292,588 0.10 18/3/2022 3,007,170 0.13 USD 2,100,000 Mexico Government International USD 4,450,000 Petronas Capital Ltd RegS 7.875% Bond 4.60% 10/2/2048* 2,038,575 0.09 22/5/2022 5,085,705 0.22 USD 2,700,000 Mexico Government International USD 6,100,000 Petronas Capital Ltd RegS 3.50% Bond 5.75% 12/10/2110 2,764,125 0.12 18/3/2025 6,199,948 0.27 USD 250,000 Nacional Financiera SNC RegS USD 6,050,000 Petronas Capital Ltd RegS 4.50% 3.375% 5/11/2020 250,625 0.01 18/3/2045* 6,710,509 0.30 USD 225,000 Petroleos Mexicanos 8.00% USD 2,350,000 Wakala Global Sukuk Bhd RegS 3/5/2019 225,975 0.01 4.646% 6/7/2021 2,444,165 0.11 USD 246,000 Petroleos Mexicanos 6.00% 5/3/2020 251,953 0.01 41,526,274 1.83 USD 2,750,000 Petroleos Mexicanos 5.50% 21/1/2021 2,805,014 0.12 Mexico USD 1,150,000 Petroleos Mexicanos 6.375% USD 850,000 Banco Nacional de Comercio 4/2/2021* 1,190,825 0.05 Exterior SNC/Cayman Islands USD 2,600,000 Petroleos Mexicanos 4.875% RegS 4.375% 14/10/2025 841,500 0.04 24/1/2022 2,619,500 0.12 USD 650,000 Banco Nacional de Comercio USD 1,400,000 Petroleos Mexicanos FRN Exterior SNC/Cayman Islands 11/3/2022 1,453,081 0.06 RegS FRN 11/8/2026 639,438 0.03 USD 1,650,000 Petroleos Mexicanos 5.375% USD 900,000 Comision Federal de Electricidad 13/3/2022* 1,687,958 0.07 RegS 4.875% 26/5/2021* 921,798 0.04 USD 2,250,000 Petroleos Mexicanos 3.50% USD 1,050,000 Comision Federal de Electricidad 30/1/2023* 2,154,600 0.09 RegS 4.875% 15/1/2024 1,080,986 0.05 USD 2,250,000 Petroleos Mexicanos 4.625% USD 1,100,000 Comision Federal de Electricidad 21/9/2023 2,220,964 0.10 RegS 4.75% 23/2/2027 1,113,486 0.05 USD 1,250,000 Petroleos Mexicanos 4.875% USD 700,000 Comision Federal de Electricidad 18/1/2024* 1,238,125 0.05 RegS 5.75% 14/2/2042* 703,063 0.03 USD 850,000 Petroleos Mexicanos 4.25% USD 650,000 Comision Federal de Electricidad 15/1/2025 799,850 0.04 RegS 6.125% 16/6/2045* 687,375 0.03 USD 1,400,000 Petroleos Mexicanos 4.50% USD 898,000 Mexico City Airport Trust RegS 23/1/2026* 1,303,946 0.06 4.25% 31/10/2026 866,525 0.04 USD 3,400,000 Petroleos Mexicanos 6.875% USD 630,000 Mexico City Airport Trust RegS 4/8/2026* 3,552,320 0.16 3.875% 30/4/2028* 571,999 0.03 USD 5,150,000 Petroleos Mexicanos 6.50% USD 972,000 Mexico City Airport Trust RegS 13/3/2027 5,211,800 0.23 5.50% 31/10/2046* 895,455 0.04 USD 2,225,000 Petroleos Mexicanos 5.35% USD 1,831,000 Mexico City Airport Trust RegS 12/2/2028* 2,083,713 0.09 5.50% 31/7/2047 1,689,098 0.07 USD 2,725,000 Petroleos Mexicanos 6.50% USD 1,000,000 Mexico Government International 23/1/2029 2,715,490 0.12 Bond 3.50% 21/1/2021* 1,016,000 0.04 USD 2,450,000 Petroleos Mexicanos 6.625% USD 1,950,000 Mexico Government International 15/6/2035 2,347,100 0.10 Bond 3.625% 15/3/2022 1,989,975 0.09 USD 3,150,000 Petroleos Mexicanos 6.50% USD 3,650,000 Mexico Government International 2/6/2041 2,893,275 0.13 Bond 4.00% 2/10/2023 3,763,150 0.17 USD 1,800,000 Petroleos Mexicanos 5.50% USD 3,150,000 Mexico Government International 27/6/2044 1,487,700 0.07 Bond 3.60% 30/1/2025 3,157,087 0.14 USD 3,375,000 Petroleos Mexicanos 6.375% USD 2,500,000 Mexico Government International 23/1/2045 3,036,757 0.13 Bond 4.125% 21/1/2026 2,553,137 0.11
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[46] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Mexico continued Nigeria continued USD 1,530,000 Petroleos Mexicanos 5.625% USD 4,825,000 Nigeria Government International 23/1/2046 1,284,726 0.06 Bond RegS 7.625% 21/11/2025* 5,126,563 0.23 USD 5,500,000 Petroleos Mexicanos 6.75% USD 6,575,000 Nigeria Government International 21/9/2047 5,145,525 0.23 Bond RegS 6.50% 28/11/2027 6,472,266 0.29 USD 3,350,000 Petroleos Mexicanos 6.35% USD 5,360,000 Nigeria Government International 12/2/2048 2,984,850 0.13 Bond RegS 7.143% 23/2/2030* 5,326,500 0.24 USD 800,000 Petroleos Mexicanos RegS USD 3,825,000 Nigeria Government International 6.625% (Perpetual)* 698,636 0.03 Bond RegS 8.747% 21/1/2031* 4,188,375 0.18 107,680,380 4.76 USD 5,600,000 Nigeria Government International Bond RegS 7.875% 16/2/2032* 5,775,000 0.25 Mongolia USD 5,575,000 Nigeria Government International USD 2,450,000 Development Bank of Mongolia Bond RegS 7.696% 23/2/2038 5,545,508 0.24 LLC RegS 7.25% 23/10/2023 2,549,606 0.11 USD 6,215,000 Nigeria Government International USD 2,400,000 Mongolia Government International Bond RegS 7.625% 28/11/2047 5,962,516 0.26 Bond RegS 10.875% 6/4/2021 2,680,704 0.12 USD 3,200,000 Nigeria Government International USD 4,375,000 Mongolia Government International Bond RegS 9.248% 21/1/2049* 3,508,000 0.15 Bond RegS 5.125% 5/12/2022 4,384,931 0.19 46,248,335 2.04 USD 2,900,000 Mongolia Government International Bond RegS 5.625% 1/5/2023 2,931,407 0.13 Oman USD 2,125,000 Mongolia Government International USD 1,350,000 Mazoon Assets Co SAOC RegS Bond RegS 8.75% 9/3/2024* 2,394,301 0.11 5.20% 8/11/2027 1,252,125 0.05 USD 1,650,000 Trade & Development Bank of USD 4,000,000 Oman Government International Mongolia LLC RegS 9.375% Bond RegS 3.625% 15/6/2021 3,896,000 0.17 19/5/2020 1,724,819 0.08 USD 2,700,000 Oman Government International 16,665,768 0.74 Bond RegS 3.875% 8/3/2022 2,615,018 0.12 USD 3,650,000 Oman Government International Morocco Bond RegS 4.125% 17/1/2023* 3,499,438 0.15 USD 6,450,000 Morocco Government International USD 7,150,000 Oman Government International Bond RegS 4.25% 11/12/2022 6,579,000 0.29 Bond RegS 4.75% 15/6/2026 6,595,875 0.29 USD 2,800,000 Morocco Government International USD 6,050,000 Oman Government International Bond RegS 5.50% 11/12/2042* 2,999,500 0.13 Bond RegS 5.375% 8/3/2027* 5,649,187 0.25 USD 6,975,000 Oman Government International 9,578,500 0.42 Bond RegS 5.625% 17/1/2028* 6,565,219 0.29 USD 5,100,000 Oman Government International Mozambique Bond RegS 6.50% 8/3/2047* 4,475,250 0.20 USD 2,542,000 Mozambique International Bond USD 7,800,000 Oman Government International RegS (Flat Trading) 10.50% Bond RegS 6.75% 17/1/2048* 6,922,500 0.31 18/1/2023* 2,218,505 0.10 USD 5,900,000 Oman Sovereign Sukuk SAOC 2,218,505 0.10 RegS 4.397% 1/6/2024 5,583,022 0.25 USD 4,350,000 Oman Sovereign Sukuk SAOC Namibia RegS 5.932% 31/10/2025* 4,368,226 0.19 USD 2,000,000 Namibia International Bonds RegS 51,421,860 2.27 5.50% 3/11/2021* 2,035,688 0.09 USD 2,700,000 Namibia International Bonds RegS Pakistan 5.25% 29/10/2025 2,597,022 0.11 USD 3,850,000 Pakistan Government International 4,632,710 0.20 Bond RegS 8.25% 15/4/2024* 4,113,995 0.18 USD 2,700,000 Pakistan Government International Netherlands Bond RegS 8.25% 30/9/2025* 2,892,524 0.13 USD 3,700,000 Kazakhstan Temir Zholy Finance USD 5,850,000 Pakistan Government International BV RegS 6.95% 10/7/2042* 4,241,125 0.19 Bond RegS 6.875% 5/12/2027* 5,783,602 0.25 USD 500,000 MDC-GMTN B.V. RegS 6.875% USD 4,050,000 Third Pakistan International Sukuk 1/11/2041* 710,000 0.03 Co Ltd/The RegS 5.50% USD 300,000 MDC-GMTN BV RegS 2.75% 13/10/2021 4,055,933 0.18 11/5/2023 294,085 0.02 USD 4,550,000 Third Pakistan International Sukuk USD 500,000 MDC-GMTN BV RegS 3.00% Co Ltd/The RegS 5.625% 19/4/2024 491,190 0.02 5/12/2022 4,524,406 0.20 USD 1,500,000 MDC-GMTN BV RegS 4.50% 21,370,460 0.94 7/11/2028* 1,606,605 0.07 USD 250,000 MDC-GMTN BV RegS 3.75% 19/4/2029* 250,704 0.01 Panama USD 1,850,000 Aeropuerto Internacional de 7,593,709 0.34 Tocumen SA RegS 5.625% 18/5/2036 1,949,438 0.09 Nigeria USD 3,750,000 Aeropuerto Internacional de USD 1,450,000 Nigeria Government International Tocumen SA RegS 6.00% Bond RegS 6.75% 28/1/2021 1,498,031 0.07 18/11/2048 4,113,862 0.18 USD 2,750,000 Nigeria Government International USD 4,750,000 Panama Government International Bond RegS 6.375% 12/7/2023* 2,845,576 0.13 Bond 4.00% 22/9/2024 4,966,125 0.22
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [47] iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Panama continued Philippines USD 4,950,000 Panama Government International USD 500,000 Philippine Government Bond 3.75% 16/3/2025 5,109,637 0.23 International Bond 6.50% USD 3,400,000 Panama Government International 20/1/2020 515,690 0.02 Bond 7.125% 29/1/2026 4,161,192 0.18 USD 4,300,000 Philippine Government USD 4,050,000 Panama Government International International Bond 4.00% Bond 8.875% 30/9/2027 5,612,389 0.25 15/1/2021 4,391,246 0.19 USD 4,600,000 Panama Government International USD 4,350,000 Philippine Government Bond 3.875% 17/3/2028 4,792,947 0.21 International Bond 4.20% USD 4,000,000 Panama Government International 21/1/2024 4,597,559 0.20 Bond 9.375% 1/4/2029 5,848,760 0.26 USD 4,250,000 Philippine Government USD 7,700,000 Panama Government International International Bond 10.625% Bond 6.70% 26/1/2036 10,062,668 0.44 16/3/2025* 6,059,076 0.27 USD 4,300,000 Panama Government International USD 2,450,000 Philippine Government Bond 4.50% 15/5/2047* 4,550,281 0.20 International Bond 5.50% USD 6,675,000 Panama Government International 30/3/2026 2,824,764 0.13 Bond 4.50% 16/4/2050 6,997,169 0.31 USD 6,450,000 Philippine Government USD 2,750,000 Panama Government International International Bond 3.00% Bond 4.30% 29/4/2053* 2,823,329 0.12 1/2/2028 6,385,500 0.28 USD 4,700,000 Philippine Government 60,987,797 2.69 International Bond 3.75% 14/1/2029* 4,923,416 0.22 Papua New Guinea USD 4,200,000 Philippine Government USD 2,050,000 Papua New Guinea Government International Bond 9.50% International Bond RegS 8.375% 2/2/2030 6,492,780 0.29 4/10/2028 2,219,125 0.10 USD 3,800,000 Philippine Government 2,219,125 0.10 International Bond 7.75% 14/1/2031 5,363,776 0.24 Paraguay USD 2,000,000 Philippine Government USD 2,800,000 Paraguay Government International Bond 6.375% International Bond RegS 4.625% 15/1/2032 2,587,740 0.11 25/1/2023 2,900,100 0.13 USD 4,050,000 Philippine Government USD 1,900,000 Paraguay Government International Bond 6.375% International Bond RegS 5.00% 23/10/2034* 5,401,849 0.24 15/4/2026* 1,999,750 0.09 USD 2,750,000 Philippine Government USD 2,500,000 Paraguay Government International Bond 5.00% International Bond RegS 4.70% 13/1/2037* 3,247,571 0.14 27/3/2027 2,607,900 0.11 USD 5,650,000 Philippine Government USD 3,750,000 Paraguay Government International Bond 3.95% International Bond RegS 6.10% 20/1/2040 5,947,614 0.26 11/8/2044* 4,209,375 0.19 USD 4,850,000 Philippine Government USD 2,150,000 Paraguay Government International Bond 3.70% International Bond RegS 5.60% 1/3/2041 4,929,007 0.22 13/3/2048* 2,301,070 0.10 USD 5,365,000 Philippine Government USD 2,600,000 Paraguay Government International Bond 3.70% International Bond RegS 5.40% 2/2/2042* 5,448,962 0.24 30/3/2050 2,628,912 0.12 USD 650,000 Power Sector Assets & Liabilities Management Corp RegS 16,647,107 0.74 7.25% 27/5/2019 655,525 0.03 USD 2,170,000 Power Sector Assets & Liabilities Peru Management Corp RegS USD 1,800,000 Corp Financiera de Desarrollo SA 7.39% 2/12/2024 2,608,796 0.12 RegS 4.75% 8/2/2022 1,870,641 0.08 USD 2,150,000 Corp Financiera de Desarrollo SA 72,380,871 3.20 RegS 4.75% 15/7/2025 2,257,909 0.10 USD 2,550,000 Fondo MIVIVIENDA SA RegS Poland 3.50% 31/1/2023 2,563,132 0.11 USD 8,550,000 Republic of Poland Government USD 7,600,000 Peruvian Government International International Bond 5.125% Bond 7.35% 21/7/2025* 9,579,800 0.42 21/4/2021* 8,967,069 0.39 USD 4,550,000 Peruvian Government International USD 12,400,000 Republic of Poland Government Bond 4.125% 25/8/2027* 4,975,425 0.22 International Bond 5.00% USD 9,520,000 Peruvian Government International 23/3/2022 13,171,590 0.58 Bond 8.75% 21/11/2033* 14,908,653 0.66 USD 9,150,000 Republic of Poland Government USD 4,550,000 Peruvian Government International International Bond 3.00% Bond 6.55% 14/3/2037 6,146,504 0.27 17/3/2023 9,218,167 0.41 USD 10,300,000 Peruvian Government International USD 8,000,000 Republic of Poland Government Bond 5.625% 18/11/2050* 13,276,700 0.59 International Bond 4.00% USD 4,100,000 Petroleos del Peru SA RegS 4.75% 22/1/2024* 8,361,600 0.37 19/6/2032* 4,212,750 0.19 USD 7,050,000 Republic of Poland Government USD 4,200,000 Petroleos del Peru SA RegS International Bond 3.25% 5.625% 19/6/2047* 4,494,000 0.20 6/4/2026 7,176,266 0.32 64,285,514 2.84 46,894,692 2.07
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[48] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Qatar Russia continued USD 1,350,000 Qatar Government International USD 12,600,000 Russian Foreign Bond - Eurobond Bond RegS 3.875% 23/4/2023 1,393,031 0.06 RegS 5.25% 23/6/2047 12,711,825 0.56 USD 2,075,000 Qatar Government International USD 6,100,500 Russian Foreign Bond - Eurobond Bond RegS 3.375% 14/3/2024* 2,081,225 0.09 RegS (Step-up Coupon) 7.50% USD 1,400,000 Qatar Government International 31/3/2030 6,841,711 0.30 Bond RegS 3.25% 2/6/2026 1,396,500 0.06 56,709,151 2.51 USD 2,000,000 Qatar Government International Bond RegS 4.50% 23/4/2028 2,147,500 0.10 USD 1,850,000 Qatar Government International Saudi Arabia Bond RegS 4.00% 14/3/2029 1,909,968 0.08 USD 1,500,000 Saudi Government International USD 400,000 Qatar Government International Bond RegS 2.875% 4/3/2023 1,487,258 0.06 Bond RegS 9.75% 15/6/2030 617,000 0.03 USD 1,500,000 Saudi Government International USD 800,000 Qatar Government International Bond RegS 4.00% 17/4/2025 1,534,507 0.07 Bond RegS 6.40% 20/1/2040 1,021,000 0.05 USD 1,750,000 Saudi Government International USD 750,000 Qatar Government International Bond RegS 3.25% 26/10/2026 1,701,000 0.07 Bond RegS 5.75% 20/1/2042 899,734 0.04 USD 1,750,000 Saudi Government International USD 400,000 Qatar Government International Bond RegS 3.625% 4/3/2028 1,733,384 0.08 Bond RegS 4.625% 2/6/2046* 421,750 0.02 USD 2,350,000 Saudi Government International USD 4,000,000 Qatar Government International Bond RegS 4.375% 16/4/2029 2,449,875 0.11 Bond RegS 5.103% 23/4/2048 4,386,100 0.19 USD 1,000,000 Saudi Government International USD 1,925,000 Qatar Government International Bond RegS 4.50% 17/4/2030* 1,049,500 0.05 Bond RegS 4.817% 14/3/2049 2,033,281 0.09 USD 2,250,000 Saudi Government International USD 1,900,000 SoQ Sukuk A QSC RegS 3.241% Bond RegS 4.50% 26/10/2046* 2,207,812 0.10 18/1/2023 1,914,250 0.08 USD 500,000 Saudi Government International Bond RegS 4.625% 4/10/2047 493,623 0.02 20,221,339 0.89 USD 1,000,000 Saudi Government International Bond RegS 5.00% 17/4/2049 1,035,000 0.05 Republic of Cameroon USD 1,950,000 Saudi Government International USD 2,750,000 Republic of Cameroon International Bond RegS 5.25% 16/1/2050 2,084,160 0.09 Bond RegS 9.50% 19/11/2025* 2,931,349 0.13 15,776,119 0.70 2,931,349 0.13 Senegal Romania USD 2,150,000 Senegal Government International USD 8,000,000 Romanian Government Bond RegS 6.25% 30/7/2024* 2,222,025 0.10 International Bond RegS 6.75% USD 4,600,000 Senegal Government International 7/2/2022 8,755,000 0.38 Bond RegS 6.25% 23/5/2033* 4,433,250 0.20 USD 6,500,000 Romanian Government USD 4,025,000 Senegal Government International International Bond RegS 4.375% Bond RegS 6.75% 13/3/2048 3,723,829 0.16 22/8/2023 6,750,217 0.30 10,379,104 0.46 USD 4,400,000 Romanian Government International Bond RegS 4.875% 22/1/2024 4,686,000 0.21 Serbia USD 3,700,000 Romanian Government USD 750,000 Serbia International Bond RegS International Bond RegS 6.125% 4.875% 25/2/2020 760,013 0.03 22/1/2044 4,257,128 0.19 USD 7,850,000 Serbia International Bond RegS USD 5,442,000 Romanian Government 7.25% 28/9/2021 8,488,597 0.38 International Bond RegS 5.125% 9,248,610 0.41 15/6/2048* 5,448,802 0.24 29,897,147 1.32 Slovakia USD 5,750,000 Slovakia Government International Russia Bond RegS 4.375% 21/5/2022 6,041,180 0.27 USD 3,000,000 Russian Foreign Bond - Eurobond 6,041,180 0.27 RegS 4.50% 4/4/2022 3,089,265 0.14 USD 6,200,000 Russian Foreign Bond - Eurobond South Africa RegS 4.875% 16/9/2023 6,513,100 0.29 USD 4,700,000 Eskom Holdings SOC Ltd RegS USD 4,800,000 Russian Foreign Bond - Eurobond 5.75% 26/1/2021 4,653,000 0.21 RegS 4.75% 27/5/2026 4,945,200 0.22 USD 2,250,000 Eskom Holdings SOC Ltd RegS USD 4,800,000 Russian Foreign Bond - Eurobond 6.75% 6/8/2023 2,228,906 0.10 RegS 4.25% 23/6/2027 4,802,400 0.21 USD 3,500,000 Eskom Holdings SOC Ltd RegS USD 4,800,000 Russian Foreign Bond - Eurobond 7.125% 11/2/2025* 3,471,562 0.15 RegS 12.75% 24/6/2028 7,728,000 0.34 USD 3,225,000 Eskom Holdings SOC Ltd RegS USD 2,200,000 Russian Foreign Bond - Eurobond 6.35% 10/8/2028 3,326,523 0.15 RegS 4.375% 21/3/2029 2,182,400 0.10 USD 1,400,000 Eskom Holdings SOC Ltd RegS USD 5,000,000 Russian Foreign Bond - Eurobond 8.45% 10/8/2028* 1,474,739 0.06 RegS 5.625% 4/4/2042 5,431,250 0.24 USD 2,050,000 Republic of South Africa USD 2,200,000 Russian Foreign Bond - Eurobond Government International Bond RegS 5.875% 16/9/2043 2,464,000 0.11 5.875% 30/5/2022 2,162,750 0.10
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [49] iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
South Africa continued Suriname USD 4,400,000 Republic of South Africa USD 2,250,000 Suriname Government Government International Bond International Bond RegS 9.25% 4.665% 17/1/2024 4,449,500 0.20 26/10/2026* 2,210,625 0.10 USD 5,700,000 Republic of South Africa 2,210,625 0.10 Government International Bond 5.875% 16/9/2025 6,027,750 0.27 Tajikistan USD 3,000,000 Republic of South Africa USD 2,025,000 Republic of Tajikistan International Government International Bond Bond RegS 7.125% 14/9/2027* 1,905,302 0.08 4.875% 14/4/2026 2,980,560 0.13 USD 3,000,000 Republic of South Africa 1,905,302 0.08 Government International Bond 4.85% 27/9/2027 2,932,575 0.13 Trinidad And Tobago USD 5,400,000 Republic of South Africa USD 1,750,000 Trinidad & Tobago Government Government International Bond International Bond RegS 4.375% 4.30% 12/10/2028* 5,051,430 0.22 16/1/2024* 1,770,370 0.08 USD 3,950,000 Republic of South Africa USD 4,900,000 Trinidad & Tobago Government Government International Bond International Bond RegS 4.50% 5.875% 22/6/2030* 4,054,280 0.18 4/8/2026* 4,838,750 0.21 USD 1,600,000 Republic of South Africa USD 1,600,000 Trinidad Generation UnLtd RegS Government International Bond 5.25% 4/11/2027 1,606,048 0.07 6.25% 8/3/2041 1,660,856 0.07 8,215,168 0.36 USD 2,800,000 Republic of South Africa Government International Bond Tunisia 5.375% 24/7/2044 2,612,260 0.11 USD 3,900,000 Banque Centrale de Tunisie USD 2,400,000 Republic of South Africa International Bond RegS 5.75% Government International Bond 30/1/2025 3,402,750 0.15 5.00% 12/10/2046 2,141,376 0.09 USD 4,050,000 Republic of South Africa 3,402,750 0.15 Government International Bond 5.65% 27/9/2047 3,867,446 0.17 Turkey USD 1,750,000 Republic of South Africa USD 500,000 Export Credit Bank of Turkey ‘144A’ Government International Bond 4.25% 18/9/2022* 443,178 0.02 6.30% 22/6/2048* 1,784,694 0.08 USD 500,000 Export Credit Bank of Turkey RegS USD 2,450,000 Transnet SOC Ltd RegS 4.00% 5.375% 8/2/2021 482,053 0.02 26/7/2022 2,413,250 0.11 USD 400,000 Export Credit Bank of Turkey RegS USD 1,100,000 ZAR Sovereign Capital Fund Pty 5.00% 23/9/2021 373,500 0.02 Ltd RegS 3.903% 24/6/2020 1,103,438 0.05 USD 750,000 Export Credit Bank of Turkey RegS 4.25% 18/9/2022 664,766 0.03 58,396,895 2.58 USD 600,000 Export Credit Bank of Turkey RegS 5.375% 24/10/2023* 531,000 0.02 Sri Lanka USD 700,000 Export Credit Bank of Turkey RegS USD 3,400,000 Sri Lanka Government International 8.25% 24/1/2024* 683,907 0.03 Bond RegS 6.25% 4/10/2020 3,453,550 0.15 USD 700,000 Export Credit Bank of Turkey RegS USD 4,650,000 Sri Lanka Government International 6.125% 3/5/2024 626,357 0.03 Bond RegS 6.25% 27/7/2021 4,731,445 0.21 USD 1,200,000 Hazine Mustesarligi Varlik Kiralama USD 2,100,000 Sri Lanka Government International AS RegS 4.251% 8/6/2021 1,165,656 0.05 Bond RegS 5.75% 18/1/2022* 2,101,806 0.09 USD 1,500,000 Hazine Mustesarligi Varlik Kiralama USD 4,500,000 Sri Lanka Government International AS RegS 5.80% 21/2/2022* 1,476,458 0.07 Bond RegS 5.875% 25/7/2022* 4,505,040 0.20 USD 1,600,000 Hazine Mustesarligi Varlik Kiralama USD 4,650,000 Sri Lanka Government International AS RegS 5.004% 6/4/2023* 1,518,000 0.07 Bond RegS 5.75% 18/4/2023* 4,600,199 0.21 USD 1,200,000 Hazine Mustesarligi Varlik Kiralama USD 2,050,000 Sri Lanka Government International AS RegS 4.489% 25/11/2024 1,078,746 0.05 Bond RegS 6.85% 14/3/2024 2,102,531 0.09 USD 600,000 TC Ziraat Bankasi AS RegS USD 3,300,000 Sri Lanka Government International 4.75% 29/4/2021 561,000 0.02 Bond RegS 6.125% 3/6/2025 3,229,875 0.14 USD 750,000 TC Ziraat Bankasi AS RegS USD 6,100,000 Sri Lanka Government International 5.125% 3/5/2022 681,641 0.03 Bond RegS 6.85% 3/11/2025 6,170,028 0.27 USD 650,000 TC Ziraat Bankasi AS RegS USD 4,100,000 Sri Lanka Government International 5.125% 29/9/2023 568,006 0.02 Bond RegS 6.825% 18/7/2026* 4,113,756 0.18 USD 2,350,000 Turkey Government International USD 6,450,000 Sri Lanka Government International Bond 7.00% 5/6/2020* 2,376,437 0.10 Bond RegS 6.20% 11/5/2027* 6,212,962 0.28 USD 2,850,000 Turkey Government International USD 5,425,000 Sri Lanka Government International Bond 5.625% 30/3/2021* 2,817,937 0.12 Bond RegS 6.75% 18/4/2028* 5,367,359 0.24 USD 1,100,000 Turkey Government International USD 3,075,000 Sri Lanka Government International Bond 5.125% 25/3/2022* 1,063,299 0.05 Bond RegS 7.85% 14/3/2029 3,223,692 0.14 USD 3,900,000 Turkey Government International 49,812,243 2.20 Bond 6.25% 26/9/2022 3,856,944 0.17
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[50] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Turkey continued United Arab Emirates USD 1,900,000 Turkey Government International USD 250,000 Abu Dhabi Crude Oil Pipeline LLC Bond 3.25% 23/3/2023 1,686,583 0.07 RegS 3.65% 2/11/2029 249,063 0.01 USD 2,305,000 Turkey Government International USD 1,250,000 Abu Dhabi Crude Oil Pipeline LLC Bond 7.25% 23/12/2023* 2,323,405 0.10 RegS 4.60% 2/11/2047 1,290,625 0.06 USD 3,950,000 Turkey Government International USD 1,500,000 Abu Dhabi Government Bond 5.75% 22/3/2024* 3,746,812 0.17 International Bond RegS 2.50% USD 3,950,000 Turkey Government International 11/10/2022 1,488,750 0.06 Bond 7.375% 5/2/2025 3,961,850 0.17 USD 1,500,000 Abu Dhabi Government USD 1,850,000 Turkey Government International International Bond RegS 3.125% Bond 4.25% 14/4/2026* 1,554,000 0.07 3/5/2026 1,501,875 0.07 USD 3,800,000 Turkey Government International USD 1,750,000 Abu Dhabi Government International Bond RegS 3.125% Bond 4.875% 9/10/2026 3,287,190 0.15 11/10/2027 1,739,062 0.08 USD 4,100,000 Turkey Government International USD 1,750,000 Abu Dhabi Government Bond 6.00% 25/3/2027 3,760,335 0.17 International Bond RegS 4.125% USD 2,600,000 Turkey Government International 11/10/2047* 1,769,687 0.08 Bond 5.125% 17/2/2028 2,233,010 0.10 USD 250,000 DIFC Sukuk Ltd RegS 4.325% USD 2,900,000 Turkey Government International 12/11/2024 252,038 0.01 Bond 6.125% 24/10/2028 2,637,187 0.12 USD 300,000 Emirate of Dubai Government USD 2,500,000 Turkey Government International International Bonds RegS 5.25% Bond 7.625% 26/4/2029 2,476,562 0.11 30/1/2043 315,750 0.01 USD 1,400,000 Turkey Government International USD 3,000,000 Emirates Development Bank PJSC Bond 11.875% 15/1/2030* 1,807,295 0.08 RegS 3.516% 6/3/2024 3,003,750 0.13 USD 2,200,000 Turkey Government International Bond 8.00% 14/2/2034* 2,223,925 0.10 11,610,600 0.51 USD 3,900,000 Turkey Government International Bond 6.875% 17/3/2036 3,564,015 0.16 United Kingdom USD 1,450,000 Turkey Government International USD 800,000 State Savings Bank of Ukraine Bond 7.25% 5/3/2038 1,358,288 0.06 Via SSB #1 Plc RegS (Step-up USD 2,800,000 Turkey Government International Coupon) 9.375% 10/3/2023 812,000 0.04 Bond 6.75% 30/5/2040 2,491,300 0.11 USD 1,550,000 State Savings Bank of Ukraine USD 4,250,000 Turkey Government International Via SSB #1 Plc RegS (Step-up Bond 6.00% 14/1/2041 3,506,441 0.15 Coupon) 9.625% 20/3/2025* 1,567,549 0.07 USD 3,950,000 Turkey Government International USD 600,000 Ukreximbank Via Biz Finance Plc Bond 4.875% 16/4/2043* 2,926,555 0.13 ‘144A’ 9.75% 22/1/2025 608,115 0.03 USD 3,950,000 Turkey Government International USD 1,450,000 Ukreximbank Via Biz Finance Plc Bond 6.625% 17/2/2045 3,421,589 0.15 RegS 9.625% 27/4/2022 1,470,300 0.06 USD 4,825,000 Turkey Government International USD 1,800,000 Ukreximbank Via Biz Finance Plc Bond 5.75% 11/5/2047 3,842,027 0.17 RegS 9.75% 22/1/2025 1,820,250 0.08 73,777,254 3.26 6,278,214 0.28
Ukraine Uruguay USD 3,963,000 Ukraine Government International USD 600,000 Uruguay Government International Bond RegS 7.75% 1/9/2020* 3,958,641 0.18 Bond 8.00% 18/11/2022* 684,357 0.03 USD 5,325,000 Uruguay Government International USD 4,633,000 Ukraine Government International Bond 4.50% 14/8/2024 5,617,875 0.25 Bond RegS 7.75% 1/9/2021 4,607,542 0.20 USD 8,350,000 Uruguay Government International USD 4,409,000 Ukraine Government International Bond 4.375% 27/10/2027* 8,813,425 0.39 Bond RegS 7.75% 1/9/2022 4,347,274 0.19 USD 5,775,000 Uruguay Government International USD 4,480,000 Ukraine Government International Bond 4.375% 23/1/2031 6,049,312 0.27 Bond RegS 7.75% 1/9/2023 4,376,960 0.19 USD 2,975,000 Uruguay Government International USD 2,500,000 Ukraine Government International Bond 7.875% 15/1/2033 4,143,446 0.18 Bond RegS 8.994% 1/2/2024* 2,521,263 0.11 USD 3,950,000 Uruguay Government International USD 3,660,000 Ukraine Government International Bond 7.625% 21/3/2036 5,461,862 0.24 Bond RegS 7.75% 1/9/2024 3,539,677 0.16 USD 3,330,000 Uruguay Government International USD 4,510,000 Ukraine Government International Bond 4.125% 20/11/2045 3,257,573 0.14 Bond RegS 7.75% 1/9/2025 4,307,614 0.19 USD 15,769,190 Uruguay Government International USD 4,377,000 Ukraine Government International Bond 5.10% 18/6/2050 16,876,976 0.75 Bond RegS 7.75% 1/9/2026 4,127,511 0.18 USD 7,400,000 Uruguay Government International USD 3,812,000 Ukraine Government International Bond 4.975% 20/4/2055 7,766,300 0.34 Bond RegS 7.75% 1/9/2027 3,564,220 0.16 USD 3,750,000 Ukraine Government International 58,671,126 2.59 Bond RegS 9.75% 1/11/2028 3,871,837 0.17 USD 9,550,000 Ukraine Government International Uzbekistan Bond RegS 7.375% 25/9/2032* 8,537,700 0.38 USD 1,700,000 Republic of Uzbekistan Bond RegS 4.75% 20/2/2024 1,692,350 0.07 47,760,239 2.11 USD 1,500,000 Republic of Uzbekistan Bond RegS 5.375% 20/2/2029* 1,494,180 0.07 3,186,530 0.14
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [51] iShares Emerging Markets Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Venezuela Vietnam USD 3,050,000 Petroleos de Venezuela SA RegS USD 4,122,000 Vietnam Government International (Defaulted) 9.00% 17/11/2021 831,125 0.04 Bond RegS 4.80% 19/11/2024* 4,329,440 0.19 USD 379,200 Petroleos de Venezuela SA RegS 4,329,440 0.19 (Defaulted) 12.75% 17/2/2022 106,650 0.01 USD 6,400,000 Petroleos de Venezuela SA RegS Zambia (Defaulted) 6.00% 16/5/2024 1,496,000 0.07 USD 3,100,000 Zambia Government International USD 5,750,000 Petroleos de Venezuela SA RegS Bond RegS 5.375% 20/9/2022 2,227,490 0.10 (Defaulted) 6.00% 15/11/2026 1,344,062 0.06 USD 3,800,000 Zambia Government International USD 3,900,000 Petroleos de Venezuela SA RegS Bond RegS 8.50% 14/4/2024 2,802,500 0.12 (Defaulted) 5.375% 12/4/2027 921,375 0.04 USD 5,600,000 Zambia Government International USD 3,555,000 Petroleos de Venezuela SA RegS Bond RegS 8.97% 30/7/2027 4,101,300 0.18 (Defaulted) 9.75% 17/5/2035 1,004,288 0.04 USD 1,930,000 Petroleos de Venezuela SA RegS 9,131,290 0.40 (Defaulted) 5.50% 12/4/2037 453,550 0.02 Total Bonds 2,216,301,775 97.90 USD 2,541,000 Petroleos de Venezuela SA RegS Total Transferable Securities and Money (Flat Trading) 8.50% 27/10/2020 2,274,195 0.10 Market Instruments Admitted to an USD 5,050,000 Venezuela Government Official Stock Exchange Listing or International Bond (Defaulted) Dealt in on Another Regulated Market 2,216,301,775 97.90 9.25% 15/9/2027 1,628,625 0.07 USD 2,000,000 Venezuela Government International Bond (Defaulted) Other Transferable Securities and Money Market Instruments 9.375% 13/1/2034 675,000 0.03 USD 2,050,000 Venezuela Government International Bond RegS BONDS (Defaulted) 7.75% 13/10/2019 599,625 0.03 USD 2,475,000 Venezuela Government Azerbaijan International Bond RegS USD 4,500,000 Republic of Azerbaijan International (Defaulted) 6.00% 12/9/2020 736,313 0.03 Bond RegS 3.50% 1/9/2032* 3,958,650 0.17 USD 3,900,000 Venezuela Government 3,958,650 0.17 International Bond RegS (Defaulted) 12.75% 23/8/2022 1,228,500 0.05 Cayman Islands USD 3,000,000 Venezuela Government USD 1,890,000 Brazil Minas SPE via State of International Bond RegS Minas Gerais RegS 5.333% (Defaulted) 9.00% 7/5/2023 911,250 0.04 15/2/2028 1,941,975 0.09 USD 3,200,000 Venezuela Government 1,941,975 0.09 International Bond RegS (Defaulted) 8.25% 13/10/2024 968,000 0.04 Total Bonds 5,900,625 0.26 USD 2,500,000 Venezuela Government Total Other Transferable Securities International Bond RegS and Money Market Instruments 5,900,625 0.26 (Defaulted) 7.65% 21/4/2025 743,750 0.03 Securities portfolio at market value 2,222,202,400 98.16 USD 3,273,000 Venezuela Government International Bond RegS Other Net Assets 41,563,673 1.84 (Defaulted) 11.75% 21/10/2026 1,047,360 0.05 USD 2,750,000 Venezuela Government Total Net Assets (USD) 2,263,766,073 100.00 International Bond RegS (Defaulted) 9.25% 7/5/2028 831,875 0.04 USD 5,350,000 Venezuela Government International Bond RegS (Defaulted) 11.95% 5/8/2031 1,658,500 0.07 USD 1,600,000 Venezuela Government International Bond RegS (Defaulted) 7.00% 31/3/2038 464,000 0.02 19,924,043 0.88
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[52] BlackRock Global Index Funds (BGIF) iShares Emerging Markets Government Bond Index Fund (LU) continued
Open forward foreign exchange transactions Sector Breakdown as at 31 March 2019 as at 31 March 2019
Net unrealised % of Net appreciation/ Assets Maturity (depreciation) Government 80.62 Currency Purchases Currency Sales Counterparty date USD Energy 7.82 EUR Hedged Share Class Financial 3.59 Utilities 2.41 EUR 691,222,180 USD 779,516,707 State Street Bank Basic Materials 2.18 & Trust Company 15/4/2019 (2,592,952) Industrial 1.42 USD 22,736,740 EUR 20,078,801 State Street Bank Consumer, Cyclical 0.09 & Trust Company 15/4/2019 168,458 Consumer, Non-cyclical 0.03 (2,424,494) Securities portfolio at market value 98.16 GBP Hedged Share Class Other Net Assets 1.84 100.00 GBP 14,371,986 USD 18,767,762 State Street Bank & Trust Company 15/4/2019 (74,011) (74,011)
SEK Hedged Share Class
SEK 1,350,055,683 USD 143,982,688 State Street Bank & Trust Company 15/4/2019 1,769,253 USD 2,309,232 SEK 21,671,044 State Street Bank & Trust Company 15/4/2019 (30,373) 1,738,880 Total (Gross underlying exposure - USD 966,277,335) (759,625)
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [53] iShares Europe Equity Index Fund (LU)
iShares Europe Equity Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
COMMON / PREFERRED STOCKS (SHARES) France continued 1,801 BioMerieux 131,473 0.04 Austria 50,410 BNP Paribas SA 2,138,896 0.62 3,042 Andritz AG* 116,509 0.03 38,946 Bollore SA 156,563 0.05 14,067 Erste Group Bank AG 456,193 0.13 10,181 Bouygues SA 322,127 0.09 6,716 OMV AG 325,054 0.10 12,207 Bureau Veritas SA 256,469 0.08 5,959 Raiffeisen Bank International AG 119,776 0.04 7,305 Capgemini SE 788,940 0.23 3,440 Verbund AG 145,856 0.04 27,712 Carrefour SA 459,049 0.13 5,461 voestalpine AG 148,266 0.04 2,157 Casino Guichard Perrachon SA* 82,894 0.02 1,311,654 0.38 22,800 Cie de Saint-Gobain 736,782 0.22 7,815 Cie Generale des Etablissements Belgium Michelin SCA 821,357 0.24 8,606 Ageas 370,230 0.11 8,027 CNP Assurances 157,570 0.05 34,110 Anheuser-Busch InBev SA/NV* 2,544,947 0.74 1,681 Covivio (Reit) 158,518 0.05 2,700 Colruyt SA* 178,038 0.05 50,840 Credit Agricole SA 544,801 0.16 3,715 Groupe Bruxelles Lambert SA 320,382 0.09 27,500 Danone SA 1,877,425 0.55 11,411 KBC Group NV 706,797 0.21 117 Dassault Aviation SA 154,206 0.05 5,896 Proximus SADP* 150,879 0.05 6,000 Dassault Systemes SE 791,100 0.23 3,261 Solvay SA 312,925 0.09 10,402 Edenred 421,385 0.12 2,586 Telenet Group Holding NV* 110,577 0.03 3,446 Eiffage SA 293,186 0.09 5,555 UCB SA 423,402 0.12 28,054 Electricite de France SA 340,295 0.10 9,581 Umicore SA* 380,845 0.11 80,870 Engie SA* 1,074,358 0.31 12,907 EssilorLuxottica SA 1,248,107 0.36 5,499,022 1.60 2,373 Eurazeo SE 158,516 0.05 7,976 Eutelsat Communications SA 124,386 0.04 Denmark 3,570 Faurecia SA 133,732 0.04 174 AP Moller - Maersk A/S ‘A’ 186,823 0.05 2,027 Gecina SA (Reit) 266,753 0.08 310 AP Moller - Maersk A/S ‘B’* 349,082 0.10 20,202 Getlink SE* 272,020 0.08 4,779 Carlsberg A/S ‘B’ 533,668 0.16 1,408 Hermes International 828,467 0.24 4,542 Chr Hansen Holding A/S 412,650 0.12 1,651 ICADE (Reit) 123,908 0.04 5,270 Coloplast A/S ‘B’ 515,924 0.15 1,227 Iliad SA 108,982 0.03 32,123 Danske Bank A/S 503,476 0.15 1,715 Imerys SA 75,803 0.02 8,445 DSV A/S 619,724 0.18 2,416 Ingenico Group SA 152,933 0.04 2,724 Genmab A/S 420,557 0.12 1,794 Ipsen SA 217,074 0.06 3,112 H Lundbeck A/S* 120,188 0.03 3,804 JCDecaux SA 103,241 0.03 7,209 ISS A/S* 196,138 0.06 3,397 Kering SA 1,728,394 0.50 81,589 Novo Nordisk A/S ‘B’ 3,795,886 1.11 9,521 Klepierre SA (Reit)* 296,960 0.09 9,561 Novozymes A/S ‘B’ 393,205 0.11 11,308 L’Oreal SA 2,698,089 0.79 8,475 Orsted A/S ‘144A’* 574,924 0.17 12,112 Legrand SA 717,515 0.21 5,010 Pandora A/S 207,249 0.06 12,371 LVMH Moet Hennessy Louis 5,715 Tryg A/S 140,179 0.04 Vuitton SE 4,044,698 1.18 8,896 Vestas Wind Systems A/S 666,167 0.19 43,613 Natixis SA 206,987 0.06 4,617 William Demant Holding A/S* 120,978 0.04 88,757 Orange SA* 1,277,213 0.37 9,756,818 2.84 9,634 Pernod Ricard SA 1,539,032 0.45 26,085 Peugeot SA 562,914 0.16 Finland 9,239 Publicis Groupe SA 441,255 0.13 6,665 Elisa OYJ 266,467 0.08 980 Remy Cointreau SA* 116,032 0.03 19,331 Fortum OYJ 357,624 0.10 8,464 Renault SA 497,260 0.15 15,473 Kone OYJ ‘B’ 694,892 0.20 13,326 Rexel SA 133,660 0.04 5,059 Metso OYJ 154,451 0.05 14,937 Safran SA 1,812,605 0.53 5,678 Neste OYJ 539,069 0.16 50,510 Sanofi 3,963,015 1.16 252,096 Nokia OYJ 1,278,127 0.37 1,060 Sartorius Stedim Biotech 117,766 0.03 5,284 Nokian Renkaat OYJ 157,569 0.05 24,663 Schneider Electric SE 1,715,065 0.50 137,814 Nordea Bank Abp 934,139 0.27 7,580 SCOR SE 287,130 0.08 4,999 Orion OYJ ‘B’ 166,917 0.05 962 SEB SA 142,472 0.04 19,560 Sampo OYJ ‘A’ 792,376 0.23 1,049 Societe BIC SA* 83,028 0.02 25,978 Stora Enso OYJ ‘R’ 282,251 0.08 34,855 Societe Generale SA 892,288 0.26 23,998 UPM-Kymmene OYJ 618,668 0.18 3,819 Sodexo SA* 374,109 0.11 19,023 Wartsila OYJ Abp 273,551 0.08 15,140 Suez 178,576 0.05 2,532 Teleperformance 404,360 0.12 6,516,101 1.90 4,743 Thales SA 506,078 0.15 108,108 Total SA 5,334,049 1.55 France 3,841 Ubisoft Entertainment SA 305,436 0.09 8,037 Accor SA 288,930 0.08 6,259 Unibail-Rodamco-Westfield (Reit) 913,814 0.27 1,258 Aeroports de Paris 214,489 0.06 11,016 Valeo SA* 283,882 0.08 19,164 Air Liquide SA 2,162,657 0.63 25,111 Veolia Environnement SA 500,588 0.15 7,463 Alstom SA 286,878 0.08 22,739 Vinci SA* 1,961,466 0.57 2,731 Amundi SA ‘144A’ 152,827 0.04 46,278 Vivendi SA 1,193,047 0.35 3,107 Arkema SA 263,163 0.08 1,183 Wendel SA 132,378 0.04 4,160 Atos SE 356,762 0.10 86,116 AXA SA* 1,925,984 0.56 56,534,167 16.48
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[54] BlackRock Global Index Funds (BGIF) iShares Europe Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Germany Ireland 2,339 1&1 Drillisch AG* 74,006 0.02 35,341 AIB Group Plc 139,668 0.04 8,092 adidas AG 1,751,109 0.51 41,738 Bank of Ireland Group Plc 220,377 0.06 19,028 Allianz SE Reg 3,764,119 1.10 35,922 CRH Plc 989,292 0.29 2,068 Axel Springer SE 94,797 0.03 4,429 DCC Plc 341,499 0.10 41,175 BASF SE 2,689,551 0.78 7,194 Kerry Group Plc ‘A’ 707,170 0.21 41,806 Bayer AG Reg 2,385,032 0.69 6,863 Kingspan Group Plc 285,226 0.08 14,641 Bayerische Motoren Werke AG 999,102 0.29 3,865 Paddy Power Betfair Plc 264,366 0.08 2,633 Bayerische Motoren Werke AG (Pref) 154,689 0.04 7,122 Ryanair Holdings Plc 83,399 0.02 4,277 Beiersdorf AG 395,366 0.12 10,390 Smurfit Kappa Group Plc 257,464 0.08 7,006 Brenntag AG 319,684 0.09 3,288,461 0.96 43,786 Commerzbank AG* 300,941 0.09 5,034 Continental AG 673,549 0.20 Isle of Man 8,891 Covestro AG ‘144A’ 433,703 0.13 26,730 GVC Holdings Plc 170,514 0.05 40,765 Daimler AG Reg 2,113,665 0.62 4,620 Delivery Hero SE 146,454 0.04 170,514 0.05 89,382 Deutsche Bank AG Reg 645,696 0.19 8,621 Deutsche Boerse AG 982,794 0.29 Italy 11,066 Deutsche Lufthansa AG Reg 214,957 0.06 52,196 Assicurazioni Generali SpA 857,841 0.25 43,914 Deutsche Post AG Reg 1,272,628 0.37 23,059 Atlantia SpA 528,512 0.16 149,466 Deutsche Telekom AG Reg 2,206,118 0.64 27,247 Davide Campari-Milano SpA 238,139 0.07 16,163 Deutsche Wohnen SE 702,444 0.20 362,615 Enel SpA 2,064,730 0.60 97,854 E.ON SE* 971,397 0.28 112,516 Eni SpA 1,760,425 0.51 7,323 Evonik Industries AG 177,949 0.05 666,415 Intesa Sanpaolo SpA 1,445,454 0.42 1,793 Fraport AG Frankfurt Airport 20,459 Leonardo SpA 211,648 0.06 Services Worldwide 121,422 0.04 29,438 Mediobanca Banca di Credito 9,807 Fresenius Medical Care AG & Finanziario SpA 270,712 0.08 Co KGaA 703,750 0.20 8,414 Moncler SpA 301,979 0.09 18,897 Fresenius SE & Co KGaA 942,015 0.27 19,050 Pirelli & C SpA ‘144A’* 109,347 0.03 2,952 Fuchs Petrolub SE (Pref) 107,807 0.03 23,953 Poste Italiane SpA ‘144A’ 206,235 0.06 7,138 GEA Group AG 167,029 0.05 9,568 Prysmian SpA* 159,642 0.05 2,571 Hannover Rueck SE 329,345 0.10 4,713 Recordati SpA 163,164 0.05 6,850 HeidelbergCement AG 436,208 0.13 97,595 Snam SpA 449,815 0.13 4,395 Henkel AG & Co KGaA 372,916 0.11 508,561 Telecom Italia SpA/Milano 281,845 0.08 8,150 Henkel AG & Co KGaA (Pref) 740,672 0.22 279,938 Telecom Italia SpA/Milano -RSP 140,921 0.04 830 Hochtief AG 105,991 0.03 60,631 Terna Rete Elettrica Nazionale SpA 342,687 0.10 2,925 Hugo Boss AG 178,367 0.05 90,506 UniCredit SpA 1,029,415 0.30 50,639 Infineon Technologies AG 892,259 0.26 10,562,511 3.08 6,729 Innogy SE 256,476 0.07 3,300 KION Group AG* 152,988 0.04 Jersey 3,473 Lanxess AG 164,481 0.05 40,225 Experian Plc 966,327 0.28 5,749 Merck KGaA 583,236 0.17 10,371 Ferguson Plc 585,996 0.17 7,462 Metro AG 109,990 0.03 506,494 Glencore Plc 1,868,486 0.55 2,413 MTU Aero Engines AG 484,530 0.14 55,144 WPP Plc 517,377 0.15 6,704 Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen Reg 1,409,181 0.41 3,938,186 1.15 4,544 OSRAM Licht AG* 138,819 0.04 6,902 Porsche Automobil Holding SE (Pref) 383,751 0.11 Luxembourg 10,379 ProSiebenSat.1 Media SE 130,879 0.04 29,895 ArcelorMittal 540,561 0.16 398 Puma SE 205,766 0.06 34,387 Aroundtown SA 253,260 0.07 22,604 RWE AG 538,427 0.16 487 Eurofins Scientific SE* 178,437 0.05 44,005 SAP SE 4,519,314 1.32 2,955 Millicom International Cellular 1,503 Sartorius AG (Pref) 229,057 0.07 SA SDR 159,250 0.05 34,248 Siemens AG Reg 3,277,876 0.96 1,671 RTL Group SA* 81,177 0.02 7,249 Siemens Healthineers AG 268,757 0.08 16,500 SES SA 226,298 0.07 5,609 Symrise AG 452,310 0.13 21,540 Tenaris SA 269,250 0.08 39,318 Telefonica Deutschland Holding AG 109,815 0.03 1,708,233 0.50 20,386 thyssenkrupp AG* 249,219 0.07 20,040 TUI AG 169,553 0.05 Netherlands 9,306 Uniper SE* 249,308 0.07 19,720 ABN AMRO Group NV - CVA ‘144A’ 393,808 0.11 5,795 United Internet AG Reg 187,468 0.05 334 Adyen NV ‘144A’ 230,427 0.07 1,399 Volkswagen AG* 201,736 0.06 75,996 Aegon NV 325,719 0.09 8,256 Volkswagen AG (Pref)* 1,154,849 0.34 5,829 AerCap Holdings NV 240,532 0.07 22,091 Vonovia SE 1,020,604 0.30 26,109 Airbus SE 3,060,497 0.89 5,371 Wirecard AG* 603,163 0.18 10,274 AKZO NOBEL NV 814,728 0.24 4,709 Zalando SE* 163,544 0.05 18,363 ASML Holding NV 3,037,607 0.89 45,982,628 13.40 47,179 CNH Industrial NV* 429,518 0.13
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [55] iShares Europe Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Netherlands continued Sweden 5,044 EXOR NV 292,148 0.09 12,065 Alfa Laval AB 246,405 0.07 5,477 Ferrari NV 650,394 0.19 45,753 Assa Abloy AB ‘B’ 877,064 0.26 49,072 Fiat Chrysler Automobiles NV 649,713 0.19 30,759 Atlas Copco AB ‘A’ 731,911 0.21 5,085 Heineken Holding NV 455,362 0.13 18,080 Atlas Copco AB ‘B’ 396,606 0.12 11,676 Heineken NV 1,096,376 0.32 12,196 Boliden AB 309,008 0.09 173,552 ING Groep NV 1,863,949 0.54 11,050 Electrolux AB ‘B’ 252,744 0.07 52,832 Koninklijke Ahold Delhaize NV 1,247,099 0.36 31,219 Epiroc AB ‘A’ 279,238 0.08 8,315 Koninklijke DSM NV 805,724 0.23 17,920 Epiroc AB ‘B’ 152,694 0.04 157,126 Koninklijke KPN NV 440,267 0.13 27,665 Essity AB ‘B’ 710,378 0.21 41,508 Koninklijke Philips NV 1,501,967 0.44 39,122 Hennes & Mauritz AB ‘B’* 586,280 0.17 3,172 Koninklijke Vopak NV 134,112 0.04 11,594 Hexagon AB ‘B’ 536,611 0.16 13,333 NN Group NV 490,788 0.14 15,599 Husqvarna AB ‘B’ 113,227 0.03 15,563 NXP Semiconductors NV 1,219,535 0.36 3,876 ICA Gruppen AB* 138,363 0.04 10,216 QIAGEN NV 368,083 0.11 6,988 Industrivarden AB ‘C’* 129,962 0.04 5,645 Randstad NV 244,767 0.07 20,185 Investor AB ‘B’ 809,165 0.24 31,549 STMicroelectronics NV 412,819 0.12 10,623 Kinnevik AB ‘B’ 243,896 0.07 69,199 Unilever NV - CVA 3,575,512 1.04 4,056 L E Lundbergforetagen AB ‘B’* 114,708 0.03 12,632 Wolters Kluwer NV 763,225 0.22 8,086 Lundin Petroleum AB 244,916 0.07 51,465 Sandvik AB 743,319 0.22 24,744,676 7.21 13,673 Securitas AB ‘B’ 196,431 0.06 73,786 Skandinaviska Enskilda Banken Norway AB ‘A’ 569,463 0.17 4,836 Aker BP ASA 153,465 0.04 15,403 Skanska AB ‘B’ 249,103 0.07 44,060 DNB ASA 723,447 0.21 17,830 SKF AB ‘B’ 264,288 0.08 52,743 Equinor ASA 1,033,827 0.30 69,684 Svenska Handelsbanken AB ‘A’ 657,228 0.19 8,504 Gjensidige Forsikring ASA 130,979 0.04 39,968 Swedbank AB ‘A’ 507,963 0.15 19,710 Mowi ASA 394,586 0.12 8,164 Swedish Match AB 370,565 0.11 56,855 Norsk Hydro ASA 205,677 0.06 21,439 Tele2 AB ‘B’ 255,688 0.07 37,643 Orkla ASA 257,032 0.08 139,399 Telefonaktiebolaget LM Ericsson ‘B’ 1,138,252 0.33 4,750 Schibsted ASA ‘B’ 151,864 0.04 123,821 Telia Co AB 497,437 0.14 33,067 Telenor ASA 591,109 0.17 70,357 Volvo AB ‘B’ 967,855 0.28 8,007 Yara International ASA* 291,975 0.09 13,290,768 3.87 3,933,961 1.15 Switzerland Portugal 82,637 ABB Ltd Reg* 1,380,159 0.40 117,894 EDP - Energias de Portugal SA 414,633 0.12 7,439 Adecco Group AG Reg* 352,430 0.10 23,537 Galp Energia SGPS SA 335,049 0.10 2,088 Baloise Holding AG Reg 306,140 0.09 9,672 Jeronimo Martins SGPS SA 127,816 0.03 96 Barry Callebaut AG Reg 154,065 0.05 877,498 0.25 48 Chocoladefabriken Lindt & Spruengli AG 289,838 0.09 Spain 4 Chocoladefabriken Lindt & 11,160 ACS Actividades de Construccion Spruengli AG Reg* 279,461 0.08 y Servicios SA 436,468 0.13 23,403 Cie Financiere Richemont SA Reg* 1,510,281 0.44 3,156 Aena SME SA ‘144A’ 505,118 0.15 9,218 Clariant AG Reg 172,095 0.05 19,635 Amadeus IT Group SA 1,388,587 0.41 9,467 Coca-Cola HBC AG 286,392 0.08 298,917 Banco Bilbao Vizcaya Argentaria SA 1,516,107 0.44 114,408 Credit Suisse Group AG Reg 1,184,131 0.35 258,769 Banco de Sabadell SA 226,371 0.07 1,475 Dufry AG Reg 136,962 0.04 727,875 Banco Santander SA 2,997,753 0.88 354 EMS-Chemie Holding AG Reg 171,163 0.05 48,880 Bankia SA* 112,522 0.03 1,612 Geberit AG Reg* 585,898 0.17 30,723 Bankinter SA 207,442 0.06 404 Givaudan SA Reg* 919,047 0.27 158,097 CaixaBank SA 438,245 0.13 10,162 Julius Baer Group Ltd 364,621 0.11 10,386 Enagas SA 270,244 0.08 2,332 Kuehne + Nagel International 14,982 Endesa SA 342,039 0.10 AG Reg* 282,982 0.08 21,180 Ferrovial SA 440,968 0.13 21,329 LafargeHolcim Ltd Reg 936,833 0.27 14,133 Grifols SA 354,314 0.10 3,390 Lonza Group AG Reg* 931,603 0.27 277,287 Iberdrola SA 2,172,821 0.63 137,462 Nestle SA Reg* 11,657,385 3.40 48,676 Industria de Diseno Textil SA 1,270,930 0.37 97,006 Novartis AG Reg* 8,271,662 2.41 46,913 Mapfre SA 114,749 0.03 1,658 Pargesa Holding SA ‘BR’ 115,614 0.03 15,473 Naturgy Energy Group SA 388,217 0.11 813 Partners Group Holding AG 524,368 0.15 20,088 Red Electrica Corp SA 382,375 0.11 31,444 Roche Holding AG 7,656,601 2.23 61,645 Repsol SA 936,696 0.27 1,887 Schindler Holding AG 347,060 0.10 10,556 Siemens Gamesa Renewable 905 Schindler Holding AG Reg* 164,506 0.05 Energy SA 149,420 0.04 245 SGS SA Reg* 540,686 0.16 206,928 Telefonica SA 1,532,716 0.45 5,815 Sika AG Reg* 717,338 0.21 2,538 Sonova Holding AG Reg 446,814 0.13 16,184,102 4.72 475 Straumann Holding AG Reg* 343,970 0.10
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[56] BlackRock Global Index Funds (BGIF) iShares Europe Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Switzerland continued United Kingdom continued 1,425 Swatch Group AG/The ‘BR’* 364,706 0.11 8,661 Johnson Matthey Plc 313,750 0.09 2,842 Swatch Group AG/The Reg 140,083 0.04 94,588 Kingfisher Plc 257,453 0.08 1,523 Swiss Life Holding AG Reg 594,423 0.17 33,937 Land Securities Group Plc (Reit)* 358,561 0.10 3,415 Swiss Prime Site AG Reg 266,848 0.08 270,214 Legal & General Group Plc 857,798 0.25 13,598 Swiss Re AG* 1,177,985 0.34 3,203,070 Lloyds Banking Group Plc 2,281,353 0.66 1,125 Swisscom AG Reg* 487,793 0.14 13,953 London Stock Exchange Group Plc 762,949 0.22 2,813 Temenos AG Reg 367,143 0.11 73,169 Marks & Spencer Group Plc* 235,580 0.07 172,448 UBS Group AG Reg 1,858,126 0.54 34,009 Meggitt Plc 198,285 0.06 1,920 Vifor Pharma AG* 230,325 0.07 221,474 Melrose Industries Plc 467,433 0.14 6,769 Zurich Insurance Group AG* 1,992,795 0.58 33,103 Merlin Entertainments Plc ‘144A’* 130,840 0.04 48,510,332 14.14 19,037 Micro Focus International Plc 438,593 0.13 15,547 Mondi Plc* 304,549 0.09 152,992 National Grid Plc 1,516,540 0.44 United Kingdom 6,417 Next Plc 412,469 0.12 41,884 3i Group Plc 476,663 0.14 5,144 NMC Health Plc 135,783 0.04 9,072 Admiral Group Plc 227,285 0.07 33,989 Pearson Plc* 331,015 0.10 46,636 Anglo American Plc* 1,108,460 0.32 14,299 Persimmon Plc 358,735 0.10 17,808 Antofagasta Plc 199,614 0.06 116,536 Prudential Plc 2,078,075 0.61 20,936 Ashtead Group Plc 449,622 0.13 30,167 Reckitt Benckiser Group Plc 2,238,721 0.65 16,280 Associated British Foods Plc 460,644 0.13 87,918 RELX Plc 1,671,324 0.49 56,657 AstraZeneca Plc 4,018,937 1.17 51,255 Rio Tinto Plc 2,647,742 0.77 44,089 Auto Trader Group Plc ‘144A’ 266,141 0.08 76,392 Rolls-Royce Holdings Plc 800,162 0.23 177,814 Aviva Plc 847,121 0.25 210,058 Royal Bank of Scotland Group Plc 597,036 0.17 12,415 Babcock International Group Plc* 71,550 0.02 201,467 Royal Dutch Shell Plc ‘A’ 5,624,721 1.64 144,286 BAE Systems Plc 800,146 0.23 167,240 Royal Dutch Shell Plc ‘B’ 4,702,059 1.37 771,110 Barclays Plc 1,370,181 0.40 39,783 Royal Mail Plc 110,123 0.03 45,491 Barratt Developments Plc 313,788 0.09 46,495 RSA Insurance Group Plc 273,343 0.08 5,196 Berkeley Group Holdings Plc 223,660 0.07 46,547 Sage Group Plc/The 377,440 0.11 94,496 BHP Group Plc 2,021,827 0.59 5,542 Schroders Plc* 172,916 0.05 897,043 BP Plc 5,771,165 1.68 50,755 Segro Plc (Reit) 394,521 0.11 102,216 British American Tobacco Plc 3,771,471 1.10 10,354 Severn Trent Plc 239,145 0.07 40,070 British Land Co Plc/The (Reit) 272,776 0.08 39,246 Smith & Nephew Plc 691,544 0.20 370,980 BT Group Plc 953,917 0.28 18,259 Smiths Group Plc 300,205 0.09 14,335 Bunzl Plc* 421,044 0.12 45,409 SSE Plc 628,757 0.18 17,535 Burberry Group Plc 396,984 0.12 24,907 St James’s Place Plc 293,404 0.09 7,460 Carnival Plc 324,654 0.09 128,236 Standard Chartered Plc 878,756 0.26 255,451 Centrica Plc 341,083 0.10 106,682 Standard Life Aberdeen Plc 325,263 0.09 10,159 Coca-Cola European Partners Plc 468,330 0.14 146,744 Taylor Wimpey Plc 297,904 0.09 71,127 Compass Group Plc 1,478,743 0.43 436,475 Tesco Plc 1,179,424 0.34 55,593 ConvaTec Group Plc ‘144A’ 91,362 0.03 49,977 Unilever Plc 2,546,717 0.74 6,043 Croda International Plc 352,748 0.10 29,191 United Utilities Group Plc 278,813 0.08 108,203 Diageo Plc 3,938,507 1.15 1,194,627 Vodafone Group Plc 1,925,778 0.56 61,346 Direct Line Insurance Group Plc 250,354 0.07 11,810 Weir Group Plc/The* 211,041 0.06 6,940 easyJet Plc 88,502 0.03 7,917 Whitbread Plc 466,173 0.14 10,402 Fresnillo Plc* 105,519 0.03 99,219 Wm Morrison Supermarkets Plc 260,725 0.08 68,048 G4S Plc 144,289 0.04 221,234 GlaxoSmithKline Plc 4,085,797 1.19 88,039,892 25.66 36,156 Hammerson Plc (Reit) 140,940 0.04 Total Common / Preferred Stocks (Shares) 340,849,524 99.34 12,078 Hargreaves Lansdown Plc 259,877 0.08
896,684 HSBC Holdings Plc 6,479,970 1.89 Total Transferable Securities and Money Market Instruments Admitted to an 42,774 Imperial Brands Plc 1,302,898 0.38 Official Stock Exchange Listing or 57,165 Informa Plc 493,188 0.14 Dealt in on Another Regulated Market 340,849,524 99.34 7,838 InterContinental Hotels Group Plc 419,688 0.12 7,506 Intertek Group Plc 421,203 0.12 Securities portfolio at market value 340,849,524 99.34 33,115 Investec Plc 169,264 0.05 164,827 ITV Plc 241,204 0.07 Other Net Assets 2,273,780 0.66 85,879 J Sainsbury Plc* 233,749 0.07 Total Net Assets (EUR) 343,123,304 100.00 32,308 John Wood Group Plc* 191,509 0.06
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [57] iShares Europe Equity Index Fund (LU) continued
Futures contracts as at 31 March 2019
Gross underlying Net unrealised Number of Currency Contract/ Expiration exposure appreciation contracts of contract Description date EUR EUR 28 EUR EURO STOXX 50 Index June 2019 913,080 8,575 7 GBP FTSE 100 Index June 2019 583,499 10,197 3 CHF Swiss Market Index June 2019 248,670 3,014 Total 1,745,249 21,786
Sector Breakdown as at 31 March 2019
% of Net Assets
Consumer, Non-cyclical 30.15 Financial 19.73 Industrial 10.59 Consumer, Cyclical 9.46 Energy 8.22 Basic Materials 6.57 Communications 5.71 Technology 4.52 Utilities 4.35 Diversified 0.04 Securities portfolio at market value 99.34 Other Net Assets 0.66 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
[58] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU)
iShares Euro Aggregate Bond Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
BONDS Australia continued EUR 400,000 Westpac Banking Corp RegS Australia 0.75% 17/10/2023 407,832 0.06 EUR 100,000 APT Pipelines Ltd RegS 2.00% EUR 175,000 Westpac Banking Corp RegS 22/3/2027 103,816 0.02 0.50% 17/5/2024 178,071 0.03 EUR 100,000 AusNet Services Holdings Pty Ltd EUR 100,000 Westpac Banking Corp RegS RegS 1.50% 26/2/2027 103,721 0.02 0.875% 17/4/2027 102,467 0.01 EUR 150,000 Australia & New Zealand Banking Group Ltd RegS 3.625% 5,131,699 0.72 18/7/2022* 168,280 0.02 EUR 100,000 Australia & New Zealand Banking Austria Group Ltd RegS 0.45% EUR 200,000 Autobahnen- und Schnell- 22/11/2023 101,602 0.01 strassen-Finanzierungs AG EUR 100,000 Australia & New Zealand Banking RegS 1.375% 9/4/2021 207,267 0.03 Group Ltd RegS 0.75% 29/9/2026 101,026 0.01 EUR 150,000 Autobahnen- und Schnell- EUR 100,000 Australia Pacific Airports Melbourne strassen-Finanzierungs AG Pty Ltd RegS 3.125% 26/9/2023 112,292 0.02 RegS 3.375% 22/9/2025 182,560 0.03 EUR 100,000 Bank of Queensland Ltd RegS EUR 100,000 Autobahnen- und Schnell- 0.50% 10/7/2022 101,381 0.01 strassen-Finanzierungs AG EUR 150,000 BHP Billiton Finance Ltd RegS RegS 2.75% 11/6/2032 124,694 0.02 3.00% 29/5/2024* 170,477 0.02 EUR 100,000 BAWAG PSK Bank fuer Arbeit und EUR 150,000 BHP Billiton Finance Ltd RegS Wirtschaft und Oesterreichische 3.25% 24/9/2027 180,088 0.03 Postsparkasse AG 0.375% EUR 100,000 BHP Billiton Finance Ltd RegS 23/2/2022 101,456 0.01 FRN 22/10/2079 118,476 0.02 EUR 150,000 Erste Group Bank AG 3.50% EUR 50,000 Commonwealth Bank of Australia 8/2/2022 165,723 0.02 5.50% 6/8/2019 50,931 0.01 EUR 100,000 Erste Group Bank AG RegS 0.625% 19/1/2023 102,594 0.01 EUR 250,000 Commonwealth Bank of Australia EUR 200,000 Erste Group Bank AG RegS RegS 0.375% 10/2/2021 252,695 0.04 0.25% 26/6/2024 201,898 0.03 EUR 150,000 Commonwealth Bank of Australia EUR 150,000 HYPO NOE Landesbank fuer RegS 0.875% 19/2/2029 152,273 0.02 Niederoesterreich und Wien AG EUR 200,000 Commonwealth Bank of Australia RegS 0.75% 22/9/2021 153,282 0.02 RegS FRN 3/10/2029 200,108 0.03 EUR 100,000 Hypo Tirol Bank AG RegS 0.50% EUR 100,000 Commonwealth Bank of Australia 11/2/2021 101,219 0.01 RegS 1.625% 10/2/2031 108,949 0.02 EUR 200,000 Hypo Vorarlberg Bank AG RegS EUR 100,000 Macquarie Bank Ltd RegS 1.125% 0.375% 17/5/2024 203,059 0.03 20/1/2022 102,683 0.01 EUR 100,000 KA Finanz AG 1.625% 19/2/2021 103,399 0.01 EUR 150,000 National Australia Bank Ltd RegS EUR 200,000 KAF Kaerntner 2.00% 12/11/2020 155,222 0.02 Ausgleichszahlungs-Fonds EUR 75,000 National Australia Bank Ltd RegS RegS 14/1/2032 (Zero Coupon) 181,021 0.03 0.875% 20/1/2022 76,734 0.01 EUR 50,000 Novomatic AG 1.625% 20/9/2023 50,755 0.01 EUR 100,000 National Australia Bank Ltd RegS EUR 100,000 OeBB-Infrastruktur AG 3.00% 0.25% 28/3/2022 101,088 0.01 24/10/2033 129,201 0.02 EUR 250,000 National Australia Bank Ltd RegS EUR 200,000 OeBB-Infrastruktur AG RegS 0.875% 16/11/2022 258,147 0.04 3.625% 13/7/2021 218,320 0.03 EUR 150,000 National Australia Bank Ltd RegS EUR 200,000 OeBB-Infrastruktur AG RegS 1.875% 13/1/2023 160,717 0.02 1.00% 18/11/2024 211,624 0.03 EUR 150,000 National Australia Bank Ltd RegS EUR 100,000 OeBB-Infrastruktur AG RegS 0.625% 10/11/2023 153,191 0.02 3.375% 18/5/2032 132,272 0.02 EUR 200,000 National Australia Bank Ltd RegS EUR 100,000 OMV AG RegS 1.75% 25/11/2019 101,293 0.01 1.375% 30/8/2028 208,750 0.03 EUR 100,000 OMV AG RegS 0.75% 4/12/2023 102,556 0.01 EUR 150,000 Origin Energy Finance Ltd RegS EUR 150,000 OMV AG RegS FRN (Perpetual) 167,748 0.02 2.50% 23/10/2020 155,486 0.02 EUR 50,000 OMV AG RegS FRN (Perpetual) 60,733 0.01 EUR 100,000 Scentre Group Trust 1 RegS EUR 100,000 OMV AG RegS FRN (Perpetual) 101,916 0.01 2.25% 16/7/2024 108,856 0.02 EUR 100,000 Raiffeisen Bank International AG EUR 100,000 Stockland Trust RegS 1.625% 6.625% 18/5/2021 111,334 0.02 27/4/2026 100,134 0.01 EUR 200,000 Raiffeisen-Landesbank Steiermark EUR 150,000 Telstra Corp Ltd 2.50% 15/9/2023 164,908 0.02 AG RegS 1.375% 11/5/2033 212,498 0.03 EUR 50,000 Telstra Corp Ltd RegS 4.25% EUR 200,000 Raiffeisenlandesbank 23/3/2020 52,137 0.01 Niederoesterreich-Wien AG EUR 100,000 Telstra Corp Ltd RegS 1.375% 0.625% 28/8/2026 204,626 0.03 26/3/2029 102,296 0.01 EUR 100,000 Raiffeisenlandesbank EUR 100,000 Transurban Finance Co Pty Ltd Niederoesterreich-Wien AG RegS 2.00% 28/8/2025 106,356 0.02 RegS 0.625% 3/3/2025 102,839 0.01 EUR 100,000 Westpac Banking Corp RegS EUR 100,000 Raiffeisenlandesbank 1.375% 17/4/2020 101,691 0.01 Oberoesterreich AG RegS EUR 200,000 Westpac Banking Corp RegS 0.375% 28/9/2026 100,501 0.01 1.50% 24/3/2021 206,760 0.03 EUR 800,000 Republic of Austria Government EUR 100,000 Westpac Banking Corp RegS Bond RegS ‘144A’ 3.90% 0.75% 22/7/2021 102,058 0.01 15/7/2020 846,240 0.12
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [59] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Austria continued Belgium EUR 1,000,000 Republic of Austria Government EUR 50,000 Anheuser-Busch InBev SA/NV Bond RegS ‘144A’ 3.50% RegS 2.00% 16/12/2019 50,763 0.01 15/9/2021 1,100,590 0.16 EUR 150,000 Anheuser-Busch InBev SA/NV EUR 500,000 Republic of Austria Government RegS 0.625% 17/3/2020 151,022 0.02 Bond RegS ‘144A’ 3.65% EUR 400,000 Anheuser-Busch InBev SA/NV 20/4/2022 563,565 0.08 RegS 0.875% 17/3/2022 409,680 0.06 EUR 500,000 Republic of Austria Government EUR 200,000 Anheuser-Busch InBev SA/NV Bond RegS ‘144A’ 20/9/2022 RegS 1.50% 17/3/2025 210,619 0.03 (Zero Coupon) 507,825 0.07 EUR 100,000 Anheuser-Busch InBev SA/NV EUR 500,000 Republic of Austria Government RegS 2.70% 31/3/2026 113,113 0.02 Bond RegS ‘144A’ 3.40% EUR 150,000 Anheuser-Busch InBev SA/NV 22/11/2022 570,885 0.08 RegS 1.15% 22/1/2027 151,764 0.02 EUR 300,000 Republic of Austria Government EUR 125,000 Anheuser-Busch InBev SA/NV Bond RegS ‘144A’ 15/7/2023 RegS 1.125% 1/7/2027 125,106 0.02 (Zero Coupon) 304,893 0.04 EUR 150,000 Anheuser-Busch InBev SA/NV EUR 950,000 Republic of Austria Government RegS 2.00% 17/3/2028 160,507 0.02 Bond RegS ‘144A’ 1.75% EUR 100,000 Anheuser-Busch InBev SA/NV 20/10/2023 1,043,157 0.15 RegS 2.00% 23/1/2035 100,777 0.01 EUR 500,000 Republic of Austria Government EUR 150,000 Anheuser-Busch InBev SA/NV Bond RegS ‘144A’ 1.65% RegS 2.75% 17/3/2036 163,672 0.02 21/10/2024 553,720 0.08 EUR 100,000 Belfius Bank SA RegS 0.375% EUR 1,050,000 Republic of Austria Government 27/11/2019 100,468 0.01 Bond RegS ‘144A’ 1.20% EUR 100,000 Belfius Bank SA RegS 1.75% 20/10/2025 1,145,035 0.16 24/6/2024 108,844 0.02 EUR 400,000 Republic of Austria Government EUR 100,000 Belfius Bank SA RegS 1.00% Bond RegS ‘144A’ 4.85% 26/10/2024 100,072 0.01 15/3/2026 539,320 0.08 EUR 100,000 Belfius Bank SA RegS 3.125% EUR 950,000 Republic of Austria Government 11/5/2026 107,899 0.02 Bond RegS ‘144A’ 0.75% EUR 200,000 Belfius Bank SA RegS 1.00% 20/10/2026 1,005,955 0.14 12/6/2028 208,475 0.03 EUR 700,000 Republic of Austria Government EUR 100,000 BNP Paribas Fortis SA RegS Bond RegS ‘144A’ 0.50% 0.50% 23/9/2024 102,022 0.01 20/4/2027 726,292 0.10 EUR 100,000 BNP Paribas Fortis SA RegS EUR 800,000 Republic of Austria Government 0.875% 22/3/2028 103,095 0.02 Bond RegS ‘144A’ 0.75% EUR 100,000 Brussels Airport Co NV/SA RegS 20/2/2028 843,908 0.12 1.00% 3/5/2024 102,788 0.01 EUR 500,000 Republic of Austria Government EUR 100,000 Elia System Operator SA/NV RegS Bond RegS ‘144A’ 0.50% 1.50% 5/9/2028 103,470 0.02 20/2/2029 512,695 0.07 EUR 100,000 Elia System Operator SA/NV RegS EUR 425,000 Republic of Austria Government FRN (Perpetual) 102,208 0.01 Bond RegS ‘144A’ 2.40% EUR 100,000 Euroclear Bank SA/NV RegS 23/5/2034 534,365 0.08 0.50% 10/7/2023 101,533 0.01 EUR 850,000 Republic of Austria Government EUR 100,000 Flemish Community/The RegS Bond RegS ‘144A’ 4.15% 1.00% 13/10/2036 97,959 0.01 15/3/2037 1,344,190 0.19 EUR 200,000 Flemish Community/The RegS EUR 475,000 Republic of Austria Government 1.50% 12/7/2038 208,868 0.03 Bond RegS ‘144A’ 3.15% EUR 100,000 FLUVIUS System Operator CVBA 20/6/2044 710,826 0.10 RegS 2.875% 9/10/2023 110,985 0.02 EUR 400,000 Republic of Austria Government EUR 400,000 ING Belgium SA RegS 0.75% Bond RegS ‘144A’ 1.50% 28/9/2026* 411,988 0.06 20/2/2047 444,644 0.06 EUR 100,000 KBC Bank NV RegS 1.25% EUR 250,000 Republic of Austria Government 28/5/2020 101,780 0.01 Bond RegS ‘144A’ 3.80% EUR 100,000 KBC Bank NV RegS 0.125% 26/1/2062 470,240 0.07 28/4/2021 100,781 0.01 EUR 150,000 Republic of Austria Government EUR 300,000 KBC Bank NV RegS 0.375% Bond RegS ‘144A’ 1.50% 1/9/2022 304,923 0.04 2/11/2086 158,533 0.02 EUR 100,000 KBC Group NV RegS 1.00% EUR 250,000 Republic of Austria Government 26/4/2021 101,936 0.01 Bond RegS ‘144A’ 2.10% EUR 100,000 KBC Group NV RegS 1.125% 20/9/2117 331,072 0.05 25/1/2024 102,683 0.01 EUR 100,000 Telekom Finanzmanagement EUR 1,300,000 Kingdom of Belgium Government GmbH RegS 3.50% 4/7/2023 113,838 0.02 Bond 4.00% 28/3/2022 1,475,669 0.21 EUR 100,000 UniCredit Bank Austria AG RegS EUR 600,000 Kingdom of Belgium Government 4.125% 24/2/2021 108,248 0.02 Bond 5.50% 28/3/2028 879,504 0.12 EUR 100,000 UniCredit Bank Austria AG RegS EUR 1,150,000 Kingdom of Belgium Government 0.75% 25/2/2025 103,400 0.01 Bond RegS ‘144A’ 3.75% EUR 100,000 Verbund AG RegS 1.50% 20/11/2024 106,227 0.02 28/9/2020 1,224,037 0.17 18,526,051 2.61
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[60] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Belgium continued Belgium continued EUR 1,150,000 Kingdom of Belgium Government EUR 250,000 Kingdom of Belgium Government Bond RegS ‘144A’ 4.25% Bond RegS ‘144A’ 2.15% 28/9/2021 1,287,517 0.18 22/6/2066* 284,932 0.04 EUR 900,000 Kingdom of Belgium Government EUR 100,000 Proximus SADP RegS 1.875% Bond RegS ‘144A’ 4.25% 1/10/2025 107,664 0.02 28/9/2022 1,048,743 0.15 EUR 100,000 Solvay SA RegS 2.75% 2/12/2027 113,177 0.02 EUR 550,000 Kingdom of Belgium Government 29,554,628 4.16 Bond RegS 2.25% 22/6/2023 611,427 0.09 EUR 1,350,000 Kingdom of Belgium Government Brazil EUR 100,000 Vale SA 3.75% 10/1/2023 106,750 0.01 Bond RegS ‘144A’ 0.20% 22/10/2023 1,380,591 0.19 106,750 0.01 EUR 450,000 Kingdom of Belgium Government Bond RegS ‘144A’ 2.60% British Virgin Islands 22/6/2024 516,456 0.07 EUR 100,000 Global Switch Holdings Ltd RegS EUR 700,000 Kingdom of Belgium Government 2.25% 31/5/2027 101,303 0.01 Bond RegS ‘144A’ 0.50% EUR 100,000 Sinopec Group Overseas 22/10/2024 725,893 0.10 Development 2015 Ltd RegS EUR 950,000 Kingdom of Belgium Government 1.00% 28/4/2022 101,729 0.01 Bond RegS ‘144A’ 0.80% EUR 250,000 State Grid Overseas Investment 22/6/2025 1,001,623 0.14 2016 Ltd RegS 1.375% 2/5/2025 255,712 0.04 EUR 500,000 Kingdom of Belgium Government 458,744 0.06 Bond RegS ‘144A’ 4.50% 28/3/2026 657,465 0.09 EUR 1,050,000 Kingdom of Belgium Government Bulgaria EUR 100,000 Bulgaria Government International Bond RegS ‘144A’ 1.00% Bond RegS 2.95% 3/9/2024 114,625 0.01 22/6/2026 1,121,557 0.16 EUR 100,000 Bulgaria Government International EUR 1,900,000 Kingdom of Belgium Government Bond RegS 2.625% 26/3/2027 114,250 0.01 Bond RegS ‘144A’ 0.80% EUR 100,000 Bulgaria Government International 22/6/2027 1,996,292 0.28 Bond RegS 3.00% 21/3/2028 117,157 0.02 EUR 600,000 Kingdom of Belgium Government EUR 100,000 Bulgaria Government International Bond RegS ‘144A’ 0.80% Bond RegS 3.125% 26/3/2035 114,858 0.02 22/6/2028 627,288 0.09 EUR 800,000 Kingdom of Belgium Government 460,890 0.06 Bond RegS ‘144A’ 0.90% 22/6/2029 838,328 0.12 Canada EUR 1,050,000 Kingdom of Belgium Government EUR 100,000 Alimentation Couche-Tard Inc Bond RegS ‘144A’ 1.00% RegS 1.875% 6/5/2026 102,773 0.02 22/6/2031 1,099,003 0.16 EUR 150,000 Bank of Montreal RegS 0.25% EUR 350,000 Kingdom of Belgium Government 22/1/2020 150,646 0.02 Bond RegS 4.00% 28/3/2032 496,933 0.07 EUR 100,000 Bank of Montreal RegS 0.125% EUR 600,000 Kingdom of Belgium Government 19/4/2021 100,467 0.01 Bond RegS 1.25% 22/4/2033 640,776 0.09 EUR 300,000 Bank of Montreal RegS 0.10% EUR 600,000 Kingdom of Belgium Government 20/10/2023 300,858 0.04 Bond RegS ‘144A’ 3.00% EUR 100,000 Bank of Nova Scotia/The RegS 22/6/2034 788,508 0.11 0.50% 23/7/2020 101,004 0.01 EUR 700,000 Kingdom of Belgium Government EUR 100,000 Bank of Nova Scotia/The RegS Bond RegS ‘144A’ 5.00% 0.375% 6/4/2022 101,054 0.01 28/3/2035 1,131,368 0.16 EUR 100,000 Bank of Nova Scotia/The RegS EUR 500,000 Kingdom of Belgium Government 0.375% 10/3/2023 101,570 0.01 Bond RegS ‘144A’ 1.45% EUR 300,000 Bank of Nova Scotia/The RegS 22/6/2037 534,785 0.08 0.50% 22/1/2025 305,856 0.04 EUR 500,000 Kingdom of Belgium Government EUR 200,000 Canadian Imperial Bank of Bond RegS ‘144A’ 1.90% Commerce RegS 0.25% 22/6/2038 570,810 0.08 28/1/2020 200,980 0.03 EUR 1,050,000 Kingdom of Belgium Government EUR 250,000 CPPIB Capital Inc RegS 1.50% Bond RegS ‘144A’ 4.25% 4/3/2033 270,610 0.04 28/3/2041 1,676,010 0.24 EUR 150,000 Great-West Lifeco Inc RegS 1.75% EUR 575,000 Kingdom of Belgium Government 7/12/2026 156,757 0.02 Bond RegS 3.75% 22/6/2045 890,134 0.13 EUR 200,000 National Bank of Canada RegS EUR 700,000 Kingdom of Belgium Government 0.50% 26/1/2022 203,710 0.03 Bond RegS ‘144A’ 1.60% EUR 150,000 Province of Alberta Canada RegS 22/6/2047 737,618 0.10 0.625% 16/1/2026 153,054 0.02 EUR 300,000 Kingdom of Belgium Government EUR 100,000 Province of British Columbia Bond RegS ‘144A’ 1.70% Canada RegS 0.875% 8/10/2025 104,632 0.02 22/6/2050 318,154 0.05 EUR 50,000 Province of Ontario Canada 4.00% EUR 300,000 Kingdom of Belgium Government 3/12/2019 51,489 0.01 Bond RegS ‘144A’ 2.25% EUR 150,000 Province of Ontario Canada RegS 22/6/2057 352,566 0.05 3.00% 28/9/2020 157,461 0.02
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [61] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Canada continued Czech Republic EUR 200,000 Province of Ontario Canada RegS EUR 50,000 CEZ AS RegS 5.00% 19/10/2021 55,994 0.01 0.375% 14/6/2024 202,960 0.03 EUR 100,000 CEZ AS RegS 4.875% 16/4/2025 121,830 0.01 EUR 100,000 Province of Ontario Canada RegS EUR 250,000 Czech Republic International RegS 0.875% 21/1/2025 104,176 0.02 3.625% 14/4/2021 269,410 0.04 EUR 150,000 Province of Quebec Canada RegS EUR 200,000 Czech Republic International RegS 5.00% 29/4/2019 150,627 0.02 3.875% 24/5/2022 225,774 0.03 EUR 100,000 Province of Quebec Canada RegS 673,008 0.09 0.875% 15/1/2025 104,338 0.02 EUR 100,000 Province of Quebec Canada RegS Denmark 1.125% 28/10/2025 106,069 0.02 EUR 150,000 AP Moller - Maersk A/S RegS EUR 200,000 Province of Quebec Canada RegS 1.75% 16/3/2026 148,894 0.02 0.875% 4/5/2027 207,286 0.03 EUR 150,000 Carlsberg Breweries A/S RegS EUR 100,000 Royal Bank of Canada RegS 2.625% 3/7/2019 151,137 0.02 1.625% 4/8/2020 102,566 0.02 EUR 100,000 Danfoss A/S RegS 1.375% EUR 200,000 Royal Bank of Canada RegS 23/2/2022 102,630 0.02 0.125% 11/3/2021 201,366 0.03 EUR 100,000 Danske Bank A/S 4.125% EUR 300,000 Royal Bank of Canada RegS 26/11/2019 102,940 0.02 0.625% 10/9/2025 307,846 0.04 EUR 150,000 Danske Bank A/S RegS 0.375% EUR 100,000 Toronto-Dominion Bank/The RegS 26/8/2019 150,458 0.02 0.625% 29/7/2019 100,322 0.01 EUR 100,000 Danske Bank A/S RegS 1.625% EUR 100,000 Toronto-Dominion Bank/The RegS 28/2/2020 101,782 0.01 0.50% 15/6/2020 100,940 0.01 EUR 100,000 Toronto-Dominion Bank/The RegS EUR 100,000 Danske Bank A/S RegS 1.375% 0.375% 12/1/2021 101,099 0.01 24/5/2022 100,474 0.01 EUR 200,000 Toronto-Dominion Bank/The RegS EUR 200,000 Danske Bank A/S RegS 0.75% 0.50% 3/4/2024 204,240 0.03 2/6/2023 200,750 0.03 EUR 200,000 Total Capital Canada Ltd RegS EUR 100,000 Danske Bank A/S RegS FRN 1.125% 18/3/2022 207,571 0.03 19/5/2026 102,369 0.02 EUR 100,000 Danske Bank A/S RegS 0.75% 4,764,327 0.67 22/11/2027 102,609 0.02 EUR 100,000 ISS Global A/S RegS 1.125% Cayman Islands 9/1/2020 100,630 0.01 EUR 125,000 CK Hutchison Europe Finance 18 EUR 200,000 Jyske Realkredit A/S RegS 0.25% Ltd RegS 1.25% 13/4/2025 126,964 0.02 1/4/2021 201,979 0.03 EUR 200,000 Hutchison Whampoa Finance 14 EUR 100,000 Kommunekredit RegS 0.25% Ltd RegS 1.375% 31/10/2021 206,316 0.03 29/3/2023 101,530 0.01 EUR 100,000 Three Gorges Finance II Cayman EUR 300,000 Kommunekredit RegS 0.25% Islands Ltd RegS 1.70% 10/6/2022 103,411 0.01 15/5/2023 304,611 0.04 436,691 0.06 EUR 100,000 Kommunekredit RegS 0.875% 3/11/2036 98,143 0.01 Chile EUR 100,000 Nykredit Realkredit A/S RegS EUR 100,000 Chile Government International 0.375% 16/6/2020 100,263 0.01 Bond 1.625% 30/1/2025 106,672 0.02 EUR 100,000 Nykredit Realkredit A/S RegS EUR 100,000 Chile Government International 0.75% 14/7/2021 100,874 0.01 Bond 1.44% 1/2/2029 103,083 0.01 EUR 100,000 Nykredit Realkredit A/S RegS EUR 100,000 Chile Government International FRN 17/11/2027 104,398 0.02 Bond 1.875% 27/5/2030 106,709 0.01 EUR 150,000 Orsted A/S RegS 1.50% 26/11/2029 156,180 0.02 EUR 50,000 Orsted A/S RegS FRN 26/6/3013 58,417 0.01 316,464 0.04 2,591,068 0.36 China EUR 100,000 China Development Bank RegS Finland 0.50% 1/6/2021 100,624 0.02 EUR 100,000 Aktia Bank OYJ RegS 0.25% EUR 300,000 China Development Bank RegS 31/3/2022 101,225 0.01 0.875% 24/1/2024 304,176 0.04 EUR 150,000 Danske Kiinnitysluottopankki OYJ EUR 300,000 Export-Import Bank of China/The RegS 1.625% 27/9/2019 151,472 0.02 RegS 0.625% 2/12/2021 303,593 0.04 EUR 150,000 Elisa OYJ RegS 0.875% 17/3/2024 151,893 0.02 708,393 0.10 EUR 300,000 Finland Government Bond RegS ‘144A’ 3.375% 15/4/2020 312,339 0.04 EUR 150,000 Finland Government Bond RegS Colombia ‘144A’ 0.375% 15/9/2020 152,061 0.02 EUR 100,000 Colombia Government International EUR 350,000 Finland Government Bond RegS Bond 3.875% 22/3/2026 116,196 0.02 ‘144A’ 3.50% 15/4/2021 379,025 0.05 116,196 0.02 EUR 700,000 Finland Government Bond RegS ‘144A’ 15/4/2022 (Zero Coupon) 710,360 0.10 Cyprus EUR 450,000 Finland Government Bond RegS EUR 200,000 Cyprus Government International ‘144A’ 1.625% 15/9/2022 482,778 0.07 Bond RegS 3.75% 26/7/2023 227,646 0.03 EUR 400,000 Finland Government Bond RegS EUR 200,000 Cyprus Government International ‘144A’ 1.50% 15/4/2023 431,048 0.06 Bond RegS 4.25% 4/11/2025 240,890 0.04 EUR 250,000 Finland Government Bond RegS 468,536 0.07 ‘144A’ 15/9/2023 (Zero Coupon) 253,942 0.04
The notes on pages 143 to 149 form an integral part of these financial statements.
[62] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Finland continued France EUR 150,000 Finland Government Bond RegS EUR 100,000 Accor SA RegS 2.375% 17/9/2023 107,501 0.02 ‘144A’ 2.00% 15/4/2024 167,507 0.02 EUR 100,000 Aeroports de Paris 3.875% EUR 150,000 Finland Government Bond RegS 15/2/2022 111,273 0.02 ‘144A’ 4.00% 4/7/2025 189,774 0.03 EUR 100,000 Aeroports de Paris RegS 1.50% EUR 250,000 Finland Government Bond RegS 24/7/2023 105,919 0.02 ‘144A’ 0.875% 15/9/2025 266,807 0.04 EUR 100,000 Aeroports de Paris RegS 2.125% EUR 400,000 Finland Government Bond RegS 11/10/2038 110,886 0.02 ‘144A’ 0.50% 15/4/2026 416,440 0.06 EUR 250,000 Agence Francaise de EUR 200,000 Finland Government Bond RegS Developpement RegS 3.625% ‘144A’ 0.50% 15/9/2027 207,314 0.03 21/4/2020 260,314 0.04 EUR 200,000 Finland Government Bond RegS EUR 300,000 Agence Francaise de ‘144A’ 2.75% 4/7/2028 248,466 0.04 Developpement RegS 0.125% EUR 250,000 Finland Government Bond RegS 30/4/2022 302,871 0.04 ‘144A’ 0.50% 15/9/2028 257,672 0.04 EUR 300,000 Agence Francaise de EUR 300,000 Finland Government Bond RegS Developpement RegS 0.125% ‘144A’ 0.75% 15/4/2031 312,819 0.04 15/11/2023 302,181 0.04 EUR 400,000 Finland Government Bond RegS EUR 100,000 Agence Francaise de ‘144A’ 1.125% 15/4/2034 433,832 0.06 Developpement RegS 3.125% EUR 300,000 Finland Government Bond RegS 4/1/2024 115,173 0.02 ‘144A’ 2.625% 4/7/2042 421,017 0.06 EUR 200,000 Agence Francaise de EUR 200,000 Finland Government Bond RegS Developpement RegS 1.375% ‘144A’ 1.375% 15/4/2047 225,360 0.03 17/9/2024* 214,264 0.03 EUR 150,000 Finnvera OYJ RegS 0.50% EUR 200,000 Agence Francaise de 13/4/2026 153,813 0.02 Developpement RegS 0.25% EUR 100,000 Finnvera OYJ RegS 1.25% 21/7/2026 199,656 0.03 14/7/2033 106,682 0.02 EUR 100,000 Agence Francaise de EUR 100,000 Fortum OYJ RegS 4.00% 24/5/2021 108,136 0.02 Developpement RegS 0.875% EUR 100,000 Kojamo OYJ RegS 1.625% 7/3/2025 99,976 0.01 25/5/2031 101,370 0.01 EUR 100,000 Municipality Finance Plc RegS EUR 200,000 Agence Francaise de 0.10% 15/10/2021 101,023 0.01 Developpement RegS 1.50% EUR 100,000 Municipality Finance Plc RegS 31/10/2034 212,082 0.03 0.625% 26/11/2026 103,151 0.01 EUR 200,000 Agence France Locale RegS EUR 300,000 Nordea Bank Abp RegS 4.00% 0.50% 20/6/2024 204,550 0.03 11/7/2019 303,465 0.04 EUR 100,000 Air Liquide Finance SA 3.889% EUR 125,000 Nordea Bank Abp RegS 2.00% 9/6/2020 104,864 0.01 17/2/2021 130,065 0.02 EUR 100,000 Air Liquide Finance SA RegS EUR 100,000 Nordea Bank Abp RegS 4.00% 1.25% 3/6/2025 106,063 0.02 29/3/2021 107,065 0.02 EUR 100,000 Air Liquide Finance SA RegS EUR 200,000 Nordea Bank Abp RegS 0.875% 1.25% 13/6/2028 105,992 0.02 26/6/2023 201,216 0.03 EUR 100,000 ALD SA RegS 0.875% 18/7/2022 100,745 0.01 EUR 100,000 Nordea Bank Abp RegS 1.125% EUR 200,000 APRR SA RegS 1.125% 15/1/2021 203,864 0.03 12/2/2025 104,830 0.02 EUR 100,000 APRR SA RegS 1.875% 6/1/2031 108,433 0.02 EUR 400,000 Nordea Mortgage Bank Plc RegS EUR 100,000 APRR SA RegS 1.50% 17/1/2033 102,494 0.01 0.125% 17/6/2020 402,108 0.06 EUR 200,000 Arkea Home Loans SFH SA RegS EUR 100,000 Nordea Mortgage Bank Plc RegS 4.50% 13/4/2021 219,188 0.03 0.025% 24/1/2022 100,665 0.01 EUR 100,000 Arkea Home Loans SFH SA RegS EUR 100,000 Nordea Mortgage Bank Plc RegS 2.375% 11/7/2023 110,090 0.02 1.00% 5/11/2024 105,327 0.02 EUR 100,000 Arkea Home Loans SFH SA RegS EUR 175,000 Nordea Mortgage Bank Plc RegS 1.50% 1/6/2033 107,851 0.02 1.375% 28/2/2033* 186,259 0.03 EUR 100,000 Arkema SA RegS 3.85% 30/4/2020 104,169 0.01 EUR 100,000 OP Corporate Bank Plc RegS EUR 100,000 Auchan Holding SADIR RegS 2.00% 3/3/2021 104,070 0.01 0.625% 7/2/2022 98,697 0.01 EUR 100,000 OP Corporate Bank Plc RegS EUR 100,000 Auchan Holding SADIR RegS 0.375% 11/10/2022 101,033 0.01 2.375% 12/12/2022 104,229 0.01 EUR 100,000 OP Mortgage Bank RegS 1.50% EUR 100,000 Autoroutes du Sud de la France SA 17/3/2021 103,513 0.01 RegS 2.875% 18/1/2023 110,355 0.02 EUR 125,000 OP Mortgage Bank RegS 0.25% EUR 100,000 Autoroutes du Sud de la France SA 11/5/2023 126,899 0.02 RegS 1.375% 27/6/2028 104,796 0.01 EUR 350,000 OP Mortgage Bank RegS 0.25% EUR 100,000 AXA Bank Europe SCF RegS 13/3/2024 354,511 0.05 0.375% 23/3/2023 101,597 0.01 EUR 100,000 OP Mortgage Bank RegS 0.625% EUR 200,000 AXA Bank Europe SCF RegS 15/2/2029 100,701 0.01 0.75% 6/3/2029 203,392 0.03 EUR 100,000 Sampo OYJ RegS 1.50% 16/9/2021 103,418 0.01 EUR 100,000 AXA SA RegS FRN 16/4/2040 105,223 0.01 EUR 125,000 Sampo OYJ RegS 1.625% 21/2/2028 129,962 0.02 EUR 100,000 AXA SA RegS FRN 6/7/2047 106,677 0.02 EUR 100,000 Sampo OYJ RegS 2.25% 27/9/2030 108,136 0.02 EUR 150,000 AXA SA RegS FRN 28/5/2049 155,089 0.02 EUR 200,000 Suomen Hypoteekkiyhdistys RegS EUR 100,000 AXA SA RegS FRN (Perpetual) 107,733 0.02 0.50% 13/3/2026 202,225 0.03 EUR 350,000 Banque Federative du Credit Mutuel SA RegS 4.125% 20/7/2020 369,486 0.05 10,021,400 1.41
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [63] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
France continued France continued EUR 100,000 Banque Federative du Credit Mutuel EUR 100,000 Bpifrance Financement SA RegS SA RegS 2.625% 24/2/2021 105,265 0.01 0.10% 19/2/2021 100,856 0.01 EUR 100,000 Banque Federative du Credit Mutuel EUR 300,000 Bpifrance Financement SA RegS SA RegS 2.625% 18/3/2024 111,134 0.02 0.75% 25/10/2021* 307,524 0.04 EUR 100,000 Banque Federative du Credit Mutuel EUR 300,000 Bpifrance Financement SA RegS SA RegS 3.00% 21/5/2024 109,015 0.02 0.25% 14/2/2023* 304,104 0.04 EUR 200,000 Banque Federative du Credit Mutuel EUR 200,000 Bpifrance Financement SA RegS SA RegS 0.75% 17/7/2025 202,090 0.03 0.125% 25/11/2023 201,246 0.03 EUR 100,000 Banque Federative du Credit Mutuel EUR 100,000 Bpifrance Financement SA RegS SA RegS 2.375% 24/3/2026 105,431 0.02 2.75% 25/10/2025 116,937 0.02 EUR 100,000 Banque Federative du Credit Mutuel EUR 200,000 Bpifrance Financement SA RegS SA RegS 1.875% 4/11/2026 101,607 0.01 0.875% 25/11/2026 208,252 0.03 EUR 200,000 Banque Federative du Credit Mutuel EUR 200,000 Bpifrance Financement SA RegS SA RegS 1.25% 26/5/2027 207,719 0.03 1.00% 25/5/2027 210,152 0.03 EUR 200,000 Banque Federative du Credit Mutuel EUR 200,000 Caisse Centrale du Credit SA RegS 1.375% 16/7/2028* 210,238 0.03 Immobilier de France SA RegS EUR 100,000 Banque Federative du Credit Mutuel 1.125% 22/4/2019 200,171 0.03 SA RegS 1.75% 15/3/2029 102,854 0.01 EUR 200,000 Caisse Centrale du Credit EUR 100,000 BNP Paribas Cardif SA RegS FRN Immobilier de France SA RegS (Perpetual) 106,148 0.02 0.125% 1/3/2021 201,520 0.03 EUR 300,000 BNP Paribas Home Loan SFH SA EUR 200,000 Caisse d’Amortissement de la Dette RegS 1.375% 17/6/2020 306,195 0.04 Sociale 2.50% 25/10/2022 219,970 0.03 EUR 200,000 BNP Paribas Home Loan SFH SA EUR 700,000 Caisse d’Amortissement de la RegS 0.375% 22/7/2024 203,650 0.03 Dette Sociale RegS 4.25% EUR 100,000 BNP Paribas Home Loan SFH SA 25/4/2020 734,825 0.10 RegS 0.375% 7/5/2025 101,616 0.01 EUR 400,000 Caisse d’Amortissement de la EUR 100,000 BNP Paribas SA RegS 2.50% Dette Sociale RegS 3.75% 23/8/2019 101,057 0.01 25/10/2020 426,190 0.06 EUR 400,000 BNP Paribas SA RegS 4.125% EUR 200,000 Caisse d’Amortissement de la 14/1/2022 445,800 0.06 Dette Sociale RegS 0.05% EUR 100,000 BNP Paribas SA RegS 2.875% 25/11/2020 201,450 0.03 24/10/2022 110,032 0.02 EUR 300,000 Caisse d’Amortissement de la EUR 225,000 BNP Paribas SA RegS 0.75% Dette Sociale RegS 4.375% 11/11/2022 230,546 0.03 25/10/2021 336,999 0.05 EUR 100,000 BNP Paribas SA RegS 1.125% EUR 600,000 Caisse d’Amortissement de la 15/1/2023 103,772 0.01 Dette Sociale RegS 0.125% EUR 125,000 BNP Paribas SA RegS 1.125% 25/11/2022 608,688 0.09 10/10/2023 127,705 0.02 EUR 200,000 Caisse d’Amortissement de la EUR 125,000 BNP Paribas SA RegS 1.00% Dette Sociale RegS 0.50% 27/6/2024 125,959 0.02 25/5/2023 205,860 0.03 EUR 100,000 BNP Paribas SA RegS 2.375% EUR 400,000 Caisse d’Amortissement de la 17/2/2025 105,816 0.02 Dette Sociale RegS 0.125% EUR 200,000 BNP Paribas SA RegS 1.50% 25/10/2023 405,452 0.06 17/11/2025 205,560 0.03 EUR 200,000 Caisse d’Amortissement de la EUR 150,000 BNP Paribas SA RegS FRN Dette Sociale RegS 2.375% 20/3/2026 156,220 0.02 25/1/2024 224,512 0.03 EUR 200,000 BNP Paribas SA RegS 1.125% EUR 300,000 Caisse d’Amortissement de la 11/6/2026 198,466 0.03 Dette Sociale RegS 1.375% EUR 100,000 BNP Paribas SA RegS 2.875% 25/11/2024 324,912 0.05 1/10/2026 108,623 0.02 EUR 350,000 Caisse d’Amortissement de la EUR 100,000 BNP Paribas SA RegS 1.50% Dette Sociale RegS 4.00% 23/5/2028 101,677 0.01 15/12/2025 443,789 0.06 EUR 100,000 Bouygues SA RegS 4.50% 9/2/2022 112,822 0.02 EUR 300,000 Caisse de Refinancement de EUR 100,000 BPCE SA RegS 0.625% 20/4/2020 100,837 0.01 l’Habitat SA 3.75% 19/2/2020 310,896 0.04 EUR 100,000 BPCE SA RegS 4.50% 10/2/2022 113,959 0.02 EUR 250,000 Caisse de Refinancement de EUR 100,000 BPCE SA RegS 1.125% 18/1/2023 101,936 0.01 l’Habitat SA 3.60% 13/9/2021 273,594 0.04 EUR 100,000 BPCE SA RegS 4.625% 18/7/2023 115,614 0.02 EUR 350,000 Caisse de Refinancement de EUR 100,000 BPCE SA RegS 0.375% 5/10/2023 100,274 0.01 l’Habitat SA 4.00% 10/1/2022 390,922 0.06 EUR 400,000 BPCE SA RegS 0.875% 31/1/2024 402,392 0.06 EUR 300,000 Caisse de Refinancement de EUR 100,000 BPCE SA RegS 1.00% 1/4/2025 99,943 0.01 l’Habitat SA 4.00% 17/6/2022 340,113 0.05 EUR 100,000 BPCE SA RegS 2.875% 22/4/2026 109,791 0.02 EUR 150,000 Caisse de Refinancement de EUR 300,000 BPCE SFH SA RegS 3.75% l’Habitat SA 3.60% 8/3/2024 176,727 0.03 13/9/2021 329,304 0.05 EUR 200,000 Caisse Francaise de Financement EUR 300,000 BPCE SFH SA RegS 0.375% Local RegS 0.375% 16/9/2019 200,704 0.03 10/2/2023 305,355 0.04 EUR 400,000 Caisse Francaise de Financement EUR 300,000 BPCE SFH SA RegS 0.75% Local RegS 3.50% 24/9/2020 422,700 0.06 2/9/2025 310,647 0.04 EUR 100,000 Caisse Francaise de Financement EUR 100,000 BPCE SFH SA RegS 1.00% Local RegS 4.25% 26/1/2021 108,282 0.02 8/6/2029 103,705 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[64] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
France continued France continued EUR 200,000 Caisse Francaise de Financement EUR 100,000 Cie de Saint-Gobain RegS 1.875% Local RegS 4.875% 2/6/2021 222,280 0.03 21/9/2028 105,363 0.01 EUR 100,000 Caisse Francaise de Financement EUR 50,000 Cie Financiere et Industrielle des Local RegS 0.50% 13/4/2022 102,034 0.01 Autoroutes SA RegS 5.00% EUR 100,000 Caisse Francaise de Financement 24/5/2021 55,537 0.01 Local RegS 0.20% 27/4/2023 101,129 0.01 EUR 100,000 Cie Financiere et Industrielle des EUR 200,000 Caisse Francaise de Financement Autoroutes SA RegS 0.375% Local RegS 0.375% 11/5/2024 203,566 0.03 7/2/2025 99,991 0.01 EUR 100,000 Caisse Francaise de Financement EUR 200,000 Cie Financiere et Industrielle des Local RegS 5.375% 8/7/2024 128,015 0.02 Autoroutes SA RegS 1.125% EUR 100,000 Caisse Francaise de Financement 13/10/2027 206,203 0.03 Local RegS 0.625% 13/4/2026 102,608 0.01 EUR 100,000 Cie Financiere et Industrielle des EUR 100,000 Caisse Francaise de Financement Autoroutes SA RegS 0.75% Local RegS 0.50% 19/2/2027 101,214 0.01 9/9/2028 98,379 0.01 EUR 200,000 Caisse Francaise de Financement EUR 100,000 Cie Generale des Etablissements Local RegS 1.00% 25/4/2028 209,528 0.03 Michelin SCA RegS 2.50% EUR 100,000 Caisse Francaise de Financement 3/9/2038 112,436 0.02 Local RegS 1.50% 13/1/2031 109,151 0.02 EUR 150,000 CNP Assurances RegS FRN EUR 100,000 Caisse Francaise de Financement 14/9/2040 162,180 0.02 Local RegS 1.25% 11/5/2032 106,045 0.02 EUR 100,000 CNP Assurances RegS FRN EUR 100,000 Caisse Francaise de Financement 10/6/2047 111,858 0.02 Local RegS 1.45% 16/1/2034 107,815 0.02 EUR 200,000 Coentreprise de Transport EUR 100,000 Caisse Francaise de Financement d’Electricite SA RegS 2.125% Local RegS 1.25% 22/1/2035 104,339 0.01 29/7/2032 211,902 0.03 EUR 100,000 Caisse Nationale de Reassurance EUR 100,000 Coface SA RegS 4.125% 27/3/2024 109,208 0.02 Mutuelle Agricole Groupama EUR 100,000 Covivio RegS 1.625% 17/10/2024 101,202 0.01 RegS 3.375% 24/9/2028 100,677 0.01 EUR 100,000 Covivio RegS 1.50% 21/6/2027 98,575 0.01 EUR 100,000 Caisse Nationale de Reassurance EUR 100,000 Credit Agricole Assurances SA Mutuelle Agricole Groupama RegS FRN 29/1/2048 93,733 0.01 RegS FRN (Perpetual) 112,490 0.02 EUR 100,000 Credit Agricole Assurances SA EUR 100,000 Capgemini SE RegS 2.50% RegS FRN (Perpetual) 106,760 0.02 1/7/2023 108,890 0.02 EUR 100,000 Credit Agricole Assurances SA EUR 100,000 Capgemini SE RegS 1.00% RegS FRN (Perpetual) 105,692 0.02 18/10/2024 102,256 0.01 EUR 200,000 Credit Agricole Home Loan SFH EUR 100,000 Carmila SA RegS 2.375% 16/9/2024 105,426 0.01 SA 0.50% 19/2/2026 203,840 0.03 EUR 200,000 Carrefour SA RegS 1.75% 22/5/2019 200,514 0.03 EUR 200,000 Credit Agricole Home Loan SFH EUR 50,000 Carrefour SA RegS 3.875% SA RegS 4.00% 17/1/2022 223,620 0.03 25/4/2021 54,016 0.01 EUR 100,000 Credit Agricole Home Loan SFH EUR 100,000 Carrefour SA RegS 1.75% 15/7/2022 104,619 0.01 SA RegS 0.375% 24/3/2023 101,815 0.01 EUR 100,000 Carrefour SA RegS 1.75% 4/5/2026 104,791 0.01 EUR 200,000 Credit Agricole Home Loan SFH EUR 300,000 Cie de Financement Foncier SA SA RegS 0.25% 23/2/2024 202,277 0.03 RegS 4.875% 25/5/2021 333,189 0.05 EUR 200,000 Credit Agricole Home Loan SFH EUR 200,000 Cie de Financement Foncier SA SA RegS 0.50% 3/4/2025 204,462 0.03 RegS 4.25% 19/1/2022 224,946 0.03 EUR 100,000 Credit Agricole Home Loan SFH EUR 300,000 Cie de Financement Foncier SA SA RegS 4.00% 16/7/2025 124,127 0.02 RegS 2.375% 21/11/2022 327,103 0.05 EUR 100,000 Credit Agricole Home Loan SFH EUR 200,000 Cie de Financement Foncier SA SA RegS 1.25% 24/3/2031 106,027 0.02 RegS 0.325% 12/9/2023 203,054 0.03 EUR 300,000 Credit Agricole Home Loan SFH EUR 100,000 Cie de Financement Foncier SA SA RegS 1.50% 28/9/2038 320,355 0.05 RegS 0.50% 4/9/2024 102,292 0.01 EUR 150,000 Credit Agricole Public Sector SCF EUR 300,000 Cie de Financement Foncier SA SA RegS 0.25% 31/10/2026 148,988 0.02 RegS 0.375% 11/12/2024 304,623 0.04 EUR 50,000 Credit Agricole SA RegS 3.90% EUR 200,000 Cie de Financement Foncier SA 19/4/2021 53,801 0.01 RegS 1.125% 24/6/2025 211,669 0.03 EUR 100,000 Credit Agricole SA RegS 2.625% EUR 150,000 Cie de Financement Foncier SA 17/3/2027 107,381 0.02 RegS 4.00% 24/10/2025 187,072 0.03 EUR 100,000 Credit Agricole SA RegS 2.00% EUR 150,000 Cie de Financement Foncier SA 25/3/2029 100,175 0.01 RegS 1.00% 2/2/2026 157,649 0.02 EUR 100,000 Credit Agricole SA/London RegS EUR 100,000 Cie de Financement Foncier SA 2.375% 27/11/2020 104,256 0.01 RegS 0.225% 14/9/2026 99,252 0.01 EUR 300,000 Credit Agricole SA/London RegS EUR 200,000 Cie de Financement Foncier SA 0.75% 1/12/2022 307,011 0.04 RegS 0.75% 11/1/2028* 204,961 0.03 EUR 100,000 Credit Agricole SA/London RegS EUR 150,000 Cie de Saint-Gobain RegS 4.50% 5.125% 18/4/2023 120,256 0.02 30/9/2019 153,451 0.02 EUR 100,000 Credit Agricole SA/London RegS EUR 100,000 Cie de Saint-Gobain RegS 1.00% 2.375% 20/5/2024 110,045 0.02 17/3/2025 101,744 0.01 EUR 200,000 Credit Agricole SA/London RegS EUR 100,000 Cie de Saint-Gobain RegS 1.375% 1.375% 13/3/2025 205,646 0.03 14/6/2027 101,838 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [65] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
France continued France continued EUR 100,000 Credit Agricole SA/London RegS EUR 100,000 Electricite de France SA RegS 1.25% 14/4/2026 103,935 0.01 FRN (Perpetual) 105,812 0.02 EUR 100,000 Credit Agricole SA/London RegS EUR 100,000 Electricite de France SA RegS 1.875% 20/12/2026 105,602 0.02 FRN (Perpetual) 105,545 0.02 EUR 100,000 Credit Agricole SA/London RegS EUR 100,000 Electricite de France SA RegS 1.75% 5/3/2029 101,974 0.01 FRN (Perpetual) 103,719 0.01 EUR 100,000 Credit Logement SA RegS FRN EUR 50,000 Engie SA 3.50% 18/10/2022 56,235 0.01 28/11/2029 97,514 0.01 EUR 100,000 Engie SA RegS 0.875% 27/3/2024 103,314 0.01 EUR 100,000 Credit Mutuel - CIC Home Loan EUR 300,000 Engie SA RegS 0.875% 19/9/2025 308,667 0.04 SFH SA RegS 1.375% 22/4/2020 101,802 0.01 EUR 200,000 Engie SA RegS 2.375% 19/5/2026 227,014 0.03 EUR 50,000 Credit Mutuel - CIC Home Loan EUR 100,000 Engie SA RegS 2.00% 28/9/2037 109,042 0.02 SFH SA RegS 3.125% 9/9/2020 52,477 0.01 EUR 100,000 Engie SA RegS FRN (Perpetual) 108,450 0.02 EUR 100,000 Credit Mutuel - CIC Home Loan EUR 200,000 Engie SA RegS FRN (Perpetual) 194,342 0.03 SFH SA RegS 4.375% 17/3/2021 109,095 0.02 EUR 100,000 EssilorLuxottica SA RegS 1.75% EUR 200,000 Credit Mutuel - CIC Home Loan 9/4/2021 103,272 0.01 SFH SA RegS 1.75% 19/6/2024 217,774 0.03 EUR 2,400,000 French Republic Government Bond EUR 200,000 Credit Mutuel - CIC Home Loan OAT RegS 25/2/2020 SFH SA RegS 0.625% 10/2/2025 205,734 0.03 (Zero Coupon) 2,411,880 0.34 EUR 100,000 Credit Mutuel - CIC Home Loan EUR 2,500,000 French Republic Government Bond SFH SA RegS 0.75% 15/9/2027 102,602 0.01 OAT RegS 3.50% 25/4/2020 2,608,275 0.37 EUR 200,000 Credit Mutuel - CIC Home Loan EUR 1,500,000 French Republic Government Bond SFH SA RegS 1.00% 30/4/2028 208,854 0.03 OAT RegS 25/5/2020 EUR 100,000 Credit Mutuel Arkea 0.875% (Zero Coupon) 1,509,510 0.21 5/10/2023 101,312 0.01 EUR 2,150,000 French Republic Government Bond EUR 100,000 Credit Mutuel Arkea SA RegS OAT RegS 2.50% 25/10/2020 2,253,759 0.32 1.00% 26/1/2023 102,361 0.01 EUR 1,350,000 French Republic Government Bond EUR 100,000 Credit Mutuel Arkea SA RegS OAT RegS 0.25% 25/11/2020 1,368,090 0.19 3.50% 9/2/2029 107,675 0.02 EUR 1,600,000 French Republic Government Bond EUR 100,000 Danone SA RegS 0.424% 3/11/2022 101,559 0.01 OAT RegS 25/2/2021 EUR 100,000 Danone SA RegS 2.60% 28/6/2023 110,454 0.02 (Zero Coupon)* 1,616,640 0.23 EUR 100,000 Danone SA RegS 1.125% 14/1/2025 103,957 0.01 EUR 1,700,000 French Republic Government Bond EUR 100,000 Danone SA RegS 1.208% 3/11/2028 103,561 0.01 OAT RegS 3.75% 25/4/2021 1,851,538 0.26 EUR 100,000 Danone SA RegS FRN (Perpetual) 97,982 0.01 EUR 2,800,000 French Republic Government Bond EUR 150,000 Dexia Credit Local SA RegS OAT RegS 25/5/2021 1.375% 18/9/2019 151,161 0.02 (Zero Coupon)* 2,832,144 0.40 EUR 200,000 Dexia Credit Local SA RegS EUR 2,500,000 French Republic Government Bond 0.25% 19/3/2020 201,078 0.03 OAT RegS 3.25% 25/10/2021* 2,744,350 0.39 EUR 150,000 Dexia Credit Local SA RegS EUR 250,000 French Republic Government Bond 2.00% 22/1/2021 156,300 0.02 OAT RegS 0.00% 25/2/2022 253,355 0.04 EUR 150,000 Dexia Credit Local SA RegS EUR 2,900,000 French Republic Government Bond 0.625% 21/1/2022 153,091 0.02 OAT RegS 3.00% 25/4/2022 3,210,677 0.45 EUR 200,000 Dexia Credit Local SA RegS EUR 1,850,000 French Republic Government Bond 0.25% 2/6/2022 202,494 0.03 OAT RegS 25/5/2022 EUR 200,000 Dexia Credit Local SA RegS (Zero Coupon) 1,876,640 0.26 0.625% 3/2/2024 205,108 0.03 EUR 2,200,000 French Republic Government Bond EUR 200,000 Dexia Credit Local SA RegS OAT RegS 2.25% 25/10/2022 2,411,508 0.34 0.50% 17/1/2025 203,524 0.03 EUR 1,700,000 French Republic Government Bond EUR 200,000 Dexia Credit Local SA RegS OAT RegS 25/3/2023 1.25% 27/10/2025 212,399 0.03 (Zero Coupon) 1,725,160 0.24 EUR 100,000 Edenred RegS 1.375% 10/3/2025 102,777 0.01 EUR 2,400,000 French Republic Government Bond EUR 150,000 Electricite de France SA RegS OAT RegS 1.75% 25/5/2023 2,613,240 0.37 6.25% 25/1/2021 167,574 0.02 EUR 3,000,000 French Republic Government Bond EUR 200,000 Electricite de France SA RegS OAT RegS 4.25% 25/10/2023 3,636,420 0.51 3.875% 18/1/2022 221,940 0.03 EUR 1,800,000 French Republic Government Bond EUR 150,000 Electricite de France SA RegS OAT RegS 25/3/2024 4.625% 11/9/2024 184,252 0.03 (Zero Coupon) 1,823,040 0.26 EUR 100,000 Electricite de France SA RegS EUR 2,100,000 French Republic Government Bond 4.00% 12/11/2025 121,748 0.02 OAT RegS 2.25% 25/5/2024 2,374,669 0.33 EUR 200,000 Electricite de France SA RegS EUR 2,500,000 French Republic Government Bond 1.00% 13/10/2026 203,449 0.03 OAT RegS 1.75% 25/11/2024 2,779,037 0.39 EUR 200,000 Electricite de France SA RegS EUR 2,200,000 French Republic Government Bond 2.00% 2/10/2030 211,768 0.03 OAT RegS 0.50% 25/5/2025 2,288,770 0.32 EUR 50,000 Electricite de France SA RegS EUR 1,800,000 French Republic Government Bond 5.625% 21/2/2033 74,203 0.01 OAT RegS 6.00% 25/10/2025 2,526,345 0.36 EUR 100,000 Electricite de France SA RegS EUR 1,650,000 French Republic Government Bond 1.875% 13/10/2036 99,345 0.01 OAT RegS 1.00% 25/11/2025* 1,770,846 0.25 EUR 50,000 Electricite de France SA RegS EUR 2,400,000 French Republic Government Bond 4.50% 12/11/2040 68,951 0.01 OAT RegS 3.50% 25/4/2026 3,012,444 0.42
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[66] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
France continued France continued EUR 2,300,000 French Republic Government Bond EUR 100,000 Kering SA RegS 1.375% 1/10/2021 103,678 0.01 OAT RegS 0.50% 25/5/2026 2,388,527 0.34 EUR 100,000 Kering SA RegS 1.50% 5/4/2027 105,566 0.02 EUR 2,050,000 French Republic Government Bond EUR 100,000 Klepierre SA RegS 4.75% 14/3/2021 109,823 0.02 OAT RegS 0.25% 25/11/2026* 2,086,592 0.29 EUR 100,000 Klepierre SA RegS 1.00% 17/4/2023 103,076 0.01 EUR 2,350,000 French Republic Government Bond EUR 200,000 La Banque Postale Home Loan OAT RegS 1.00% 25/5/2027 2,525,239 0.36 SFH SA RegS 0.50% 18/1/2023 204,243 0.03 EUR 2,150,000 French Republic Government Bond EUR 150,000 La Banque Postale Home Loan OAT RegS 2.75% 25/10/2027 2,639,619 0.37 SFH SA RegS 0.625% 23/6/2027 152,853 0.02 EUR 2,400,000 French Republic Government Bond EUR 100,000 La Banque Postale SA RegS FRN OAT RegS 0.75% 25/5/2028 2,519,136 0.35 23/4/2026 103,406 0.01 EUR 2,250,000 French Republic Government Bond EUR 100,000 La Banque Postale SA RegS FRN OAT RegS 0.75% 25/11/2028 2,353,860 0.33 19/11/2027 105,058 0.01 EUR 1,700,000 French Republic Government Bond EUR 100,000 La Poste SA 4.75% 8/7/2019 101,370 0.01 OAT RegS 5.50% 25/4/2029 2,586,312 0.36 EUR 100,000 La Poste SA RegS 2.75% EUR 3,050,000 French Republic Government Bond 26/11/2024 113,690 0.02 OAT RegS 2.50% 25/5/2030 3,749,609 0.53 EUR 100,000 La Poste SA RegS 1.45% EUR 2,800,000 French Republic Government Bond 30/11/2028 104,828 0.01 OAT RegS 1.50% 25/5/2031 3,131,408 0.44 EUR 100,000 Legrand SA RegS 1.875% 6/7/2032 109,012 0.02 EUR 1,650,000 French Republic Government Bond EUR 50,000 LVMH Moet Hennessy Louis Vuitton OAT RegS 5.75% 25/10/2032 2,772,924 0.39 SE RegS 0.375% 26/5/2022 50,650 0.01 EUR 1,250,000 French Republic Government Bond EUR 200,000 LVMH Moet Hennessy Louis Vuitton OAT RegS 1.25% 25/5/2034 1,345,225 0.19 SE RegS 0.125% 28/2/2023 200,940 0.03 EUR 1,400,000 French Republic Government Bond EUR 100,000 LVMH Moet Hennessy Louis Vuitton OAT RegS 4.75% 25/4/2035 2,258,046 0.32 SE RegS 0.75% 26/5/2024 103,154 0.01 EUR 2,150,000 French Republic Government Bond EUR 100,000 Mercialys SA RegS 1.787% OAT RegS ‘144A’ 1.25% 31/3/2023 102,274 0.01 25/5/2036 2,284,805 0.32 EUR 50,000 mFinance France SA RegS EUR 1,250,000 French Republic Government Bond 1.398% 26/9/2020 50,841 0.01 OAT RegS 4.00% 25/10/2038 1,943,637 0.27 EUR 200,000 MMB SCF SACA RegS 0.75% EUR 1,700,000 French Republic Government Bond 31/10/2025 205,120 0.03 OAT RegS ‘144A’ 1.75% EUR 50,000 Orange SA 8.125% 28/1/2033 88,565 0.01 25/6/2039 1,936,555 0.27 EUR 50,000 Orange SA RegS 3.875% 9/4/2020 52,045 0.01 EUR 2,350,000 French Republic Government Bond EUR 150,000 Orange SA RegS 3.875% 14/1/2021 160,854 0.02 OAT RegS 4.50% 25/4/2041 3,967,928 0.56 EUR 100,000 Orange SA RegS 3.375% 16/9/2022 111,029 0.02 EUR 1,350,000 French Republic Government Bond EUR 100,000 Orange SA RegS 3.125% 9/1/2024 114,004 0.02 OAT RegS 3.25% 25/5/2045 1,973,794 0.28 EUR 200,000 Orange SA RegS 0.875% 3/2/2027 200,960 0.03 EUR 1,950,000 French Republic Government Bond EUR 200,000 Orange SA RegS 1.375% 20/3/2028 206,428 0.03 OAT RegS ‘144A’ 2.00% EUR 200,000 Orange SA RegS 2.00% 15/1/2029 217,083 0.03 25/5/2048 2,282,007 0.32 EUR 100,000 Orange SA RegS FRN (Perpetual) 107,500 0.02 EUR 500,000 French Republic Government Bond EUR 100,000 Orange SA RegS FRN (Perpetual) 113,500 0.02 OAT RegS ‘144A’ 1.50% EUR 100,000 Pernod Ricard SA RegS 1.50% 25/5/2050 517,405 0.07 18/5/2026 104,910 0.01 EUR 800,000 French Republic Government Bond EUR 100,000 Peugeot SA RegS 2.00% 23/3/2024 103,333 0.01 OAT RegS 4.00% 25/4/2055 1,384,040 0.19 EUR 100,000 Peugeot SA RegS 2.00% 20/3/2025 102,042 0.01 EUR 850,000 French Republic Government Bond EUR 100,000 Publicis Groupe SA RegS 1.125% OAT RegS 4.00% 25/4/2060 1,511,844 0.21 16/12/2021 102,721 0.01 EUR 650,000 French Republic Government Bond EUR 150,000 RCI Banque SA RegS 1.125% OAT RegS ‘144A’ 1.75% 30/9/2019 151,023 0.02 25/5/2066 691,967 0.10 EUR 100,000 RCI Banque SA RegS 1.25% EUR 200,000 Gecina SA RegS 1.375% 26/1/2028 203,822 0.03 8/6/2022 102,707 0.01 EUR 100,000 Gecina SA RegS 2.00% 30/6/2032 103,297 0.01 EUR 50,000 RCI Banque SA RegS 0.75% EUR 50,000 Holding d’Infrastructures de 26/9/2022 50,375 0.01 Transport SAS RegS 4.875% EUR 125,000 RCI Banque SA RegS 0.50% 27/10/2021 55,481 0.01 15/9/2023* 123,431 0.02 EUR 100,000 Holding d’Infrastructures de EUR 150,000 RCI Banque SA RegS 1.625% Transport SAS RegS 0.625% 11/4/2025* 151,612 0.02 27/3/2023 98,799 0.01 EUR 150,000 RCI Banque SA RegS 1.75% EUR 100,000 Holding d’Infrastructures de 10/4/2026 150,277 0.02 Transport SAS RegS 2.25% EUR 200,000 RCI Banque SA RegS 1.625% 24/3/2025 104,578 0.01 26/5/2026 198,902 0.03 EUR 300,000 HSBC France SA RegS 1.875% EUR 100,000 Regie Autonome des Transports 16/1/2020 304,926 0.04 Parisiens RegS 0.375% 15/6/2024 101,820 0.01 EUR 300,000 HSBC SFH France SA RegS EUR 100,000 Regie Autonome des Transports 0.50% 17/4/2025 306,330 0.04 Parisiens RegS 0.875% 25/5/2027 104,287 0.01 EUR 200,000 ICADE RegS 1.875% 14/9/2022 209,848 0.03 EUR 100,000 Region of Ile de France RegS EUR 100,000 Imerys SA RegS 1.50% 15/1/2027 100,608 0.01 2.25% 10/6/2023 108,997 0.02 EUR 100,000 Imerys SA RegS 1.875% 31/3/2028 102,001 0.01 EUR 100,000 Region of Ile de France RegS EUR 50,000 Italcementi Finance SA RegS 0.625% 23/4/2027 102,410 0.01 5.375% 19/3/2020 52,493 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [67] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
France continued France continued EUR 100,000 RTE Reseau de Transport EUR 100,000 Societe Generale SA RegS d’Electricite SADIR RegS 4.75% 2/3/2021 109,391 0.02 2.125% 20/9/2019 101,054 0.01 EUR 100,000 Societe Generale SA RegS EUR 100,000 RTE Reseau de Transport 1.00% 1/4/2022 101,625 0.01 d’Electricite SADIR RegS EUR 100,000 Societe Generale SA RegS 1.00% 19/10/2026 103,112 0.01 0.50% 13/1/2023 99,136 0.01 EUR 100,000 RTE Reseau de Transport EUR 200,000 Societe Generale SA RegS d’Electricite SADIR RegS 0.75% 26/5/2023 204,596 0.03 2.75% 20/6/2029 118,340 0.02 EUR 100,000 Societe Generale SA RegS EUR 100,000 RTE Reseau de Transport 4.00% 7/6/2023 111,582 0.02 d’Electricite SADIR RegS EUR 100,000 Societe Generale SA RegS 1.875% 23/10/2037 107,501 0.02 2.625% 27/2/2025 106,506 0.02 EUR 100,000 RTE Reseau de Transport EUR 400,000 Societe Generale SA RegS d’Electricite SADIR RegS 2.125% 27/9/2028 419,084 0.06 2.125% 27/9/2038 110,038 0.02 EUR 150,000 Societe Generale SCF SA RegS EUR 200,000 SA de Gestion de Stocks de 4.125% 15/2/2022 168,666 0.02 Securite RegS 0.625% EUR 100,000 Societe Generale SCF SA RegS 25/5/2023 206,764 0.03 4.25% 3/2/2023 116,624 0.02 EUR 200,000 Sanofi RegS 13/9/2022 EUR 200,000 Societe Generale SFH SA RegS (Zero Coupon) 200,472 0.03 0.125% 27/2/2020 200,825 0.03 EUR 100,000 Sanofi RegS 0.50% 21/3/2023 102,018 0.01 EUR 200,000 Societe Generale SFH SA RegS EUR 100,000 Sanofi RegS 1.75% 10/9/2026 108,995 0.02 1.75% 5/3/2020 203,804 0.03 EUR 200,000 Sanofi RegS 0.50% 13/1/2027 199,235 0.03 EUR 200,000 Societe Generale SFH SA RegS EUR 100,000 Sanofi RegS 1.25% 21/3/2034 99,586 0.01 0.50% 2/6/2025 204,280 0.03 EUR 200,000 Sanofi RegS 1.875% 21/3/2038 217,224 0.03 EUR 100,000 Societe Generale SFH SA RegS EUR 100,000 Schneider Electric SE RegS 0.75% 29/1/2027 103,166 0.01 3.625% 20/7/2020 104,892 0.01 EUR 100,000 Sodexo SA RegS 0.75% 14/4/2027 99,277 0.01 EUR 100,000 Schneider Electric SE RegS EUR 50,000 Suez RegS 4.125% 24/6/2022 56,579 0.01 0.875% 11/3/2025 102,591 0.01 EUR 100,000 Suez RegS 1.00% 3/4/2025 103,714 0.01 EUR 200,000 Schneider Electric SE RegS EUR 100,000 Suez RegS 1.625% 17/9/2030 106,292 0.02 1.50% 15/1/2028* 209,273 0.03 EUR 100,000 Suez RegS 1.625% 21/9/2032 105,828 0.02 EUR 100,000 SCOR SE RegS FRN 27/5/2048 108,024 0.02 EUR 100,000 Suez RegS FRN (Perpetual) 102,060 0.01 EUR 200,000 SFIL SA RegS 0.75% 6/2/2026* 206,354 0.03 EUR 100,000 TDF Infrastructure SAS RegS EUR 100,000 SNCF Mobilites RegS 3.625% 2.50% 7/4/2026 102,379 0.01 3/6/2020 104,699 0.01 EUR 100,000 Teleperformance RegS 1.50% EUR 150,000 SNCF Mobilites RegS 4.125% 3/4/2024 102,156 0.01 19/2/2025 185,805 0.03 EUR 100,000 Teleperformance RegS 1.875% EUR 100,000 SNCF Mobilites RegS 1.50% 2/7/2025 103,408 0.01 2/2/2029 108,867 0.02 EUR 100,000 Terega SA RegS 4.339% 7/7/2021 109,204 0.02 EUR 100,000 SNCF Reseau EPIC 4.375% EUR 200,000 Thales SA RegS 0.75% 23/1/2025 201,647 0.03 2/6/2022 114,668 0.02 EUR 100,000 Total Capital International SA RegS EUR 200,000 SNCF Reseau EPIC 3.125% 0.25% 12/7/2023 101,257 0.01 25/10/2028 249,238 0.04 EUR 100,000 Total Capital International SA RegS EUR 200,000 SNCF Reseau EPIC 5.00% 1.375% 19/3/2025 106,837 0.02 10/10/2033 309,568 0.04 EUR 200,000 Total Capital International SA RegS EUR 200,000 SNCF Reseau EPIC RegS 2.875% 19/11/2025* 233,994 0.03 0.10% 27/5/2021 201,740 0.03 EUR 100,000 Total Capital International SA RegS EUR 250,000 SNCF Reseau EPIC RegS 0.75% 12/7/2028 101,458 0.01 4.50% 30/1/2024 305,042 0.04 EUR 100,000 Total Capital International SA RegS EUR 200,000 SNCF Reseau EPIC RegS 1.375% 4/10/2029 106,671 0.02 2.625% 29/12/2025 232,668 0.03 EUR 200,000 Total Capital International SA RegS EUR 200,000 SNCF Reseau EPIC RegS 1.491% 4/9/2030 215,150 0.03 4.25% 7/10/2026 259,590 0.04 EUR 100,000 Total SA RegS FRN (Perpetual) 108,707 0.02 EUR 100,000 SNCF Reseau EPIC RegS EUR 150,000 Total SA RegS FRN (Perpetual) 163,252 0.02 1.00% 9/11/2031 102,458 0.01 EUR 300,000 Total SA RegS FRN (Perpetual) 301,083 0.04 EUR 100,000 SNCF Reseau EPIC RegS EUR 200,000 Total SA RegS FRN (Perpetual) 206,932 0.03 1.875% 30/3/2034 112,032 0.02 EUR 200,000 UNEDIC ASSEO 1.25% 29/5/2020 203,692 0.03 EUR 100,000 SNCF Reseau EPIC RegS EUR 200,000 UNEDIC ASSEO 0.125% 25/11/2024 200,522 0.03 2.25% 20/12/2047 113,641 0.02 EUR 500,000 UNEDIC ASSEO RegS 1.50% EUR 100,000 SNCF Reseau EPIC RegS 16/4/2021* 518,590 0.07 2.00% 5/2/2048 107,714 0.02 EUR 200,000 UNEDIC ASSEO RegS 0.125% EUR 100,000 Societe Du Grand Paris EPIC 25/5/2022 202,116 0.03 RegS 1.125% 22/10/2028 105,908 0.02 EUR 200,000 UNEDIC ASSEO RegS 0.25% EUR 100,000 Societe Du Grand Paris EPIC 24/11/2023 203,356 0.03 RegS 1.125% 25/5/2034 101,708 0.01 EUR 200,000 UNEDIC ASSEO RegS 0.625% EUR 100,000 Societe Fonciere Lyonnaise SA 17/2/2025 207,575 0.03 RegS 1.875% 26/11/2021 103,810 0.01 EUR 200,000 UNEDIC ASSEO RegS 0.625% EUR 100,000 Societe Generale SA RegS 3/3/2026 207,376 0.03 0.75% 25/11/2020 101,545 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[68] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
France continued Germany continued EUR 200,000 UNEDIC ASSEO RegS 1.25% EUR 200,000 Berlin Hyp AG RegS 0.75% 28/3/2027 215,940 0.03 26/2/2026 207,768 0.03 EUR 300,000 UNEDIC ASSEO RegS 0.50% EUR 300,000 Berlin Hyp AG RegS 1.50% 20/3/2029 301,689 0.04 18/4/2028 312,123 0.04 EUR 100,000 UNEDIC ASSEO RegS 1.50% EUR 100,000 Bertelsmann SE & Co KGaA RegS 20/4/2032 110,042 0.02 1.25% 29/9/2025 102,867 0.01 EUR 100,000 Unibail-Rodamco SE RegS EUR 100,000 Bertelsmann SE & Co KGaA RegS 2.375% 25/2/2021 104,786 0.01 FRN 23/4/2075 100,424 0.01 EUR 100,000 Unibail-Rodamco SE RegS EUR 200,000 Bund Laender Anleihe RegS 0.875% 21/2/2025 102,577 0.01 1.50% 15/7/2020 205,030 0.03 EUR 200,000 Unibail-Rodamco SE RegS EUR 400,000 Bundesobligation 5/4/2024 1.125% 15/9/2025 206,162 0.03 (Zero Coupon) 408,996 0.06 EUR 100,000 Unibail-Rodamco SE RegS EUR 1,100,000 Bundesobligation RegS 17/4/2020 2.50% 4/6/2026 112,121 0.02 (Zero Coupon)* 1,106,963 0.16 EUR 100,000 Unibail-Rodamco SE RegS EUR 750,000 Bundesobligation RegS 0.25% 1.50% 22/2/2028 104,945 0.01 16/10/2020 760,009 0.11 EUR 100,000 Unibail-Rodamco SE RegS EUR 1,950,000 Bundesobligation RegS 9/4/2021 2.00% 28/4/2036 105,969 0.02 (Zero Coupon)* 1,974,843 0.28 EUR 100,000 Unibail-Rodamco SE RegS EUR 1,400,000 Bundesobligation RegS 8/10/2021 2.25% 14/5/2038 109,460 0.02 (Zero Coupon)* 1,421,644 0.20 EUR 100,000 Unibail-Rodamco SE RegS EUR 1,300,000 Bundesobligation RegS 8/4/2022 FRN (Perpetual) 99,029 0.01 (Zero Coupon)* 1,323,816 0.19 EUR 200,000 Valeo SA RegS 0.375% 12/9/2022 199,064 0.03 EUR 1,600,000 Bundesobligation RegS 7/10/2022 EUR 100,000 Veolia Environnement SA 5.125% (Zero Coupon) 1,632,384 0.23 24/5/2022 116,337 0.02 EUR 1,300,000 Bundesobligation RegS 14/4/2023 EUR 50,000 Veolia Environnement SA RegS (Zero Coupon) 1,328,444 0.19 4.375% 11/12/2020 53,789 0.01 EUR 1,200,000 Bundesobligation RegS 13/10/2023 EUR 100,000 Veolia Environnement SA RegS (Zero Coupon) 1,227,408 0.17 1.496% 30/11/2026 106,295 0.02 EUR 1,400,000 Bundesrepublik Deutschland EUR 100,000 Veolia Environnement SA RegS Bundesanleihe RegS 1.59% 10/1/2028 106,465 0.02 3.00% 4/7/2020 1,463,798 0.21 EUR 100,000 Veolia Environnement SA RegS EUR 800,000 Bundesrepublik Deutschland 1.94% 7/1/2030 107,483 0.02 Bundesanleihe RegS EUR 100,000 Vinci SA RegS 1.75% 26/9/2030 105,713 0.02 2.25% 4/9/2020 832,896 0.12 EUR 100,000 Vivendi SA RegS 1.125% 24/11/2023 102,929 0.01 EUR 1,000,000 Bundesrepublik Deutschland EUR 200,000 Vivendi SA RegS 0.875% 18/9/2024 202,318 0.03 Bundesanleihe RegS EUR 100,000 Wendel SA RegS 1.00% 20/4/2023 101,779 0.01 2.50% 4/1/2021 1,056,440 0.15 EUR 100,000 WPP Finance SA RegS 2.25% EUR 1,400,000 Bundesrepublik Deutschland 22/9/2026 105,673 0.02 Bundesanleihe RegS 158,615,865 22.31 3.25% 4/7/2021 1,522,906 0.21 EUR 1,000,000 Bundesrepublik Deutschland Bundesanleihe RegS Germany 2.25% 4/9/2021 1,069,960 0.15 EUR 150,000 Aareal Bank AG RegS 0.375% EUR 1,300,000 Bundesrepublik Deutschland 15/7/2025 152,175 0.02 Bundesanleihe RegS EUR 100,000 Allianz SE RegS FRN 17/10/2042 116,605 0.02 2.00% 4/1/2022 1,394,783 0.20 EUR 200,000 Allianz SE RegS FRN 7/7/2045 207,214 0.03 EUR 2,000,000 Bundesrepublik Deutschland EUR 100,000 Allianz SE RegS FRN (Perpetual) 112,751 0.02 Bundesanleihe RegS EUR 100,000 Allianz SE RegS FRN (Perpetual) 107,000 0.02 1.75% 4/7/2022* 2,154,480 0.30 EUR 100,000 Amphenol Technologies Holding EUR 1,650,000 Bundesrepublik Deutschland GmbH RegS 2.00% 8/10/2028 105,952 0.02 Bundesanleihe RegS EUR 100,000 BASF SE RegS 2.50% 22/1/2024 111,257 0.02 1.50% 4/9/2022 1,769,146 0.25 EUR 100,000 BASF SE RegS 1.625% 15/11/2037 104,352 0.02 EUR 1,150,000 Bundesrepublik Deutschland EUR 125,000 Bayer AG RegS FRN 1/7/2074 125,696 0.02 Bundesanleihe RegS EUR 150,000 Bayer AG RegS FRN 2/4/2075 146,262 0.02 1.50% 15/2/2023* 1,242,408 0.18 EUR 100,000 Bayerische Landesbank RegS EUR 800,000 Bundesrepublik Deutschland 1.00% 9/7/2021 102,838 0.01 Bundesanleihe RegS EUR 50,000 Bayerische Landesbank RegS 1.50% 15/5/2023* 867,948 0.12 1.625% 18/4/2023 53,481 0.01 EUR 1,450,000 Bundesrepublik Deutschland EUR 100,000 Bayerische Landesbank RegS Bundesanleihe RegS 0.75% 19/1/2028 103,117 0.01 2.00% 15/8/2023* 1,611,762 0.23 EUR 100,000 Bayerische Landesbodenkreditanstalt EUR 450,000 Bundesrepublik Deutschland 1.75% 24/4/2024 109,105 0.02 Bundesanleihe RegS EUR 150,000 Bayerische Landesbodenkreditanstalt 6.25% 4/1/2024 595,890 0.08 0.625% 23/11/2026 154,865 0.02 EUR 1,800,000 Bundesrepublik Deutschland EUR 75,000 Berlin Hyp AG 0.25% 22/2/2023 76,065 0.01 Bundesanleihe RegS EUR 100,000 Berlin Hyp AG RegS 0.375% 1.75% 15/2/2024 1,998,378 0.28 21/2/2025 101,718 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [69] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Germany continued Germany continued EUR 900,000 Bundesrepublik Deutschland EUR 800,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 1.50% 15/5/2024 991,386 0.14 1.25% 15/8/2048* 945,080 0.13 EUR 1,150,000 Bundesrepublik Deutschland EUR 500,000 Bundesschatzanweisungen RegS Bundesanleihe RegS 13/9/2019 (Zero Coupon) 501,315 0.07 1.00% 15/8/2024 1,239,936 0.17 EUR 1,000,000 Bundesschatzanweisungen RegS EUR 1,500,000 Bundesrepublik Deutschland 13/3/2020 (Zero Coupon) 1,005,580 0.14 Bundesanleihe RegS EUR 550,000 Bundesschatzanweisungen RegS 0.50% 15/2/2025* 1,581,000 0.22 12/6/2020 (Zero Coupon) 553,993 0.08 EUR 500,000 Bundesrepublik Deutschland EUR 100,000 Commerzbank AG 7.75% 16/3/2021 113,036 0.02 Bundesanleihe RegS EUR 125,000 Commerzbank AG 0.50% 9/6/2026 127,477 0.02 1.00% 15/8/2025 544,345 0.08 EUR 250,000 Commerzbank AG 1.25% 9/1/2034 262,239 0.04 EUR 1,900,000 Bundesrepublik Deutschland EUR 300,000 Commerzbank AG RegS 4.375% Bundesanleihe RegS 2/7/2019 303,585 0.04 0.50% 15/2/2026* 2,010,257 0.28 EUR 200,000 Commerzbank AG RegS 0.25% EUR 1,100,000 Bundesrepublik Deutschland 26/1/2022 202,572 0.03 Bundesanleihe RegS 15/8/2026 EUR 300,000 Commerzbank AG RegS 1.125% (Zero Coupon)* 1,124,150 0.16 24/5/2024* 301,750 0.04 EUR 2,000,000 Bundesrepublik Deutschland EUR 50,000 Commerzbank AG RegS 4.00% Bundesanleihe RegS 23/3/2026 53,340 0.01 0.25% 15/2/2027* 2,080,140 0.29 EUR 200,000 Commerzbank AG RegS 0.625% EUR 400,000 Bundesrepublik Deutschland 24/8/2027 204,403 0.03 Bundesanleihe RegS EUR 100,000 Commerzbank AG RegS 1.875% 6.50% 4/7/2027 625,264 0.09 28/2/2028 100,382 0.01 EUR 2,000,000 Bundesrepublik Deutschland EUR 150,000 Covestro AG RegS 1.75% 25/9/2024 158,800 0.02 Bundesanleihe RegS EUR 200,000 CRH Finance Germany GmbH 0.50% 15/8/2027* 2,120,340 0.30 RegS 1.75% 16/7/2021 207,524 0.03 EUR 500,000 Bundesrepublik Deutschland EUR 200,000 Daimler AG RegS 0.50% 9/9/2019 200,656 0.03 Bundesanleihe RegS EUR 100,000 Daimler AG RegS 0.625% 5/3/2020 100,784 0.01 5.625% 4/1/2028 758,152 0.11 EUR 100,000 Daimler AG RegS 2.25% 24/1/2022 106,063 0.02 EUR 1,950,000 Bundesrepublik Deutschland EUR 50,000 Daimler AG RegS 2.375% 8/3/2023 54,149 0.01 Bundesanleihe RegS EUR 100,000 Daimler AG RegS 1.875% 8/7/2024 107,095 0.02 0.50% 15/2/2028* 2,065,732 0.29 EUR 100,000 Daimler AG RegS 1.00% 15/11/2027 99,485 0.01 EUR 650,000 Bundesrepublik Deutschland EUR 125,000 Daimler AG RegS 1.375% 11/5/2028* 128,150 0.02 Bundesanleihe RegS EUR 100,000 Daimler AG RegS 1.50% 3/7/2029 101,699 0.01 4.75% 4/7/2028 947,947 0.13 EUR 125,000 Daimler AG RegS 2.125% 3/7/2037 131,222 0.02 EUR 1,400,000 Bundesrepublik Deutschland EUR 100,000 Deutsche Apotheker-und Bundesanleihe RegS Aerztebank eG 0.50% 14/2/2025 102,454 0.01 0.25% 15/8/2028* 1,447,628 0.20 EUR 200,000 Deutsche Bahn Finance GMBH EUR 800,000 Bundesrepublik Deutschland RegS 19/7/2021 (Zero Coupon) 200,736 0.03 Bundesanleihe RegS EUR 100,000 Deutsche Bahn Finance GMBH 0.25% 15/2/2029* 824,700 0.12 RegS 3.00% 8/3/2024 113,916 0.02 EUR 400,000 Bundesrepublik Deutschland EUR 50,000 Deutsche Bahn Finance GMBH Bundesanleihe RegS RegS 3.75% 9/7/2025 60,226 0.01 6.25% 4/1/2030 674,172 0.10 EUR 100,000 Deutsche Bahn Finance GMBH EUR 1,100,000 Bundesrepublik Deutschland RegS 0.625% 26/9/2028 100,714 0.01 Bundesanleihe RegS EUR 150,000 Deutsche Bahn Finance GMBH 5.50% 4/1/2031 1,815,561 0.26 RegS 1.125% 18/12/2028 156,235 0.02 EUR 1,150,000 Bundesrepublik Deutschland EUR 50,000 Deutsche Bahn Finance GMBH Bundesanleihe RegS RegS 0.875% 11/7/2031 49,669 0.01 4.75% 4/7/2034 1,942,724 0.27 EUR 100,000 Deutsche Bahn Finance GmbH EUR 1,450,000 Bundesrepublik Deutschland RegS 1.625% 16/8/2033 106,899 0.02 Bundesanleihe RegS EUR 200,000 Deutsche Bank AG RegS 1.625% 4.00% 4/1/2037 2,382,669 0.34 12/2/2021 202,444 0.03 EUR 750,000 Bundesrepublik Deutschland EUR 200,000 Deutsche Bank AG RegS 1.25% Bundesanleihe RegS 8/9/2021 200,759 0.03 4.25% 4/7/2039 1,318,965 0.19 EUR 200,000 Deutsche Bank AG RegS 1.50% EUR 1,000,000 Bundesrepublik Deutschland 20/1/2022 201,264 0.03 Bundesanleihe RegS EUR 200,000 Deutsche Bank AG RegS 2.375% 4.75% 4/7/2040 1,892,820 0.27 11/1/2023 206,692 0.03 EUR 950,000 Bundesrepublik Deutschland EUR 200,000 Deutsche Bank AG RegS 1.125% Bundesanleihe RegS 30/8/2023* 204,281 0.03 3.25% 4/7/2042* 1,540,401 0.22 EUR 100,000 Deutsche Bank AG RegS 0.25% EUR 1,775,000 Bundesrepublik Deutschland 8/3/2024 101,064 0.01 Bundesanleihe RegS EUR 300,000 Deutsche Bank AG RegS 0.625% 2.50% 4/7/2044 2,612,960 0.37 21/8/2025 308,691 0.04 EUR 1,750,000 Bundesrepublik Deutschland EUR 200,000 Deutsche Bank AG RegS 2.625% Bundesanleihe RegS 12/2/2026 205,140 0.03 2.50% 15/8/2046 2,620,222 0.37
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[70] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Germany continued Germany continued EUR 100,000 Deutsche Boerse AG RegS FRN EUR 100,000 Gemeinsame Deutsche 5/2/2041 104,480 0.02 Bundeslaender RegS EUR 200,000 Deutsche Hypothekenbank AG 0.50% 5/2/2025 102,972 0.01 RegS 0.125% 20/4/2022 201,860 0.03 EUR 400,000 Gemeinsame Deutsche EUR 200,000 Deutsche Hypothekenbank AG Bundeslaender RegS RegS 0.25% 10/12/2024 202,159 0.03 0.75% 25/9/2028 413,978 0.06 EUR 100,000 Deutsche Kreditbank AG RegS EUR 150,000 Hamburg Commercial Bank AG 0.75% 26/9/2024 100,238 0.01 RegS 0.10% 20/7/2020 150,703 0.02 EUR 100,000 Deutsche Kreditbank AG RegS EUR 100,000 Hamburg Commercial Bank AG 0.50% 19/3/2027 101,510 0.01 RegS 0.75% 7/10/2021 102,191 0.01 EUR 50,000 Deutsche Pfandbriefbank AG RegS EUR 100,000 Hamburger Sparkasse AG RegS 1.50% 18/3/2020 50,863 0.01 0.375% 23/5/2024 101,769 0.01 EUR 300,000 Deutsche Pfandbriefbank AG RegS EUR 100,000 HeidelbergCement AG RegS 0.50% 19/1/2023 306,751 0.04 2.25% 3/6/2024 107,068 0.02 EUR 100,000 Deutsche Pfandbriefbank AG RegS EUR 50,000 HeidelbergCement AG RegS 2.375% 29/5/2028 117,173 0.02 1.50% 7/2/2025 51,498 0.01 EUR 50,000 Deutsche Post AG RegS 0.375% EUR 50,000 Hella GmbH & Co KGaA 1.00% 1/4/2021 50,470 0.01 17/5/2024 51,152 0.01 EUR 100,000 Deutsche Post AG RegS 1.25% EUR 75,000 Henkel AG & Co KGaA RegS 1/4/2026 105,325 0.02 13/9/2021 (Zero Coupon) 75,140 0.01 EUR 100,000 Dexia Kommunalbank Deutschland EUR 100,000 HSH Finanzfonds AoeR RegS GmbH 0.375% 3/3/2022 101,483 0.01 0.50% 9/6/2025 102,389 0.01 EUR 100,000 DVB Bank SE RegS 2.375% EUR 100,000 Investitionsbank Berlin 0.50% 2/12/2020 103,398 0.01 17/4/2026 102,121 0.01 EUR 100,000 DVB Bank SE RegS 1.00% EUR 300,000 Investitionsbank Schleswig-Holstein 25/4/2022 100,510 0.01 RegS 0.50% 13/6/2025 307,995 0.04 EUR 100,000 DZ HYP AG RegS 0.25% 21/1/2021 100,966 0.01 EUR 50,000 Knorr-Bremse AG RegS 0.50% EUR 100,000 DZ HYP AG RegS 0.50% 29/7/2022 102,189 0.01 8/12/2021 50,754 0.01 EUR 100,000 DZ HYP AG RegS 0.125% 30/9/2022 100,962 0.01 EUR 75,000 Knorr-Bremse AG RegS 1.125% EUR 200,000 DZ HYP AG RegS 1.125% 18/9/2024 211,873 0.03 13/6/2025 78,218 0.01 EUR 300,000 DZ HYP AG RegS 0.50% 1/4/2027 304,938 0.04 EUR 400,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 DZ HYP AG RegS 0.875% 22/3/2028 208,163 0.03 1.125% 15/1/2020 405,244 0.06 EUR 100,000 DZ HYP AG RegS 0.875% 18/1/2030 102,884 0.01 EUR 500,000 Kreditanstalt fuer Wiederaufbau EUR 100,000 E.ON SE RegS 1.625% 22/5/2029 104,224 0.02 3.625% 20/1/2020 516,612 0.07 EUR 50,000 ENTEGA Netz AG 6.125% 23/4/2041 78,541 0.01 EUR 250,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 Erste Abwicklungsanstalt RegS 0.125% 1/6/2020 251,772 0.04 12/6/2020 (Zero Coupon) 200,929 0.03 EUR 250,000 Kreditanstalt fuer Wiederaufbau EUR 100,000 Eurogrid GmbH RegS 1.625% 3.375% 18/1/2021 267,387 0.04 3/11/2023 105,129 0.02 EUR 250,000 Kreditanstalt fuer Wiederaufbau EUR 300,000 FMS Wertmanagement RegS 30/6/2021 (Zero Coupon) 252,422 0.04 1.375% 15/1/2020 304,347 0.04 EUR 400,000 Kreditanstalt fuer Wiederaufbau EUR 300,000 FMS Wertmanagement RegS 3.50% 4/7/2021 435,600 0.06 30/3/2020 (Zero Coupon) 301,278 0.04 EUR 150,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 FMS Wertmanagement RegS 2.50% 17/1/2022 162,142 0.02 20/10/2020 (Zero Coupon) 201,354 0.03 EUR 500,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 FMS Wertmanagement RegS 28/4/2022 (Zero Coupon) 505,372 0.07 3.375% 17/6/2021 216,728 0.03 EUR 100,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 Free and Hanseatic City of 0.625% 4/7/2022 103,156 0.01 Hamburg RegS 1.50% 4/9/2020 205,451 0.03 EUR 300,000 Kreditanstalt fuer Wiederaufbau EUR 100,000 Free and Hanseatic City of 15/12/2022 (Zero Coupon) 303,292 0.04 Hamburg RegS 0.375% 1/4/2025 102,159 0.01 EUR 200,000 Kreditanstalt fuer Wiederaufbau EUR 150,000 Free and Hanseatic City of 4.625% 4/1/2023 237,315 0.03 Hamburg RegS 1.45% 5/11/2038* 161,100 0.02 EUR 500,000 Kreditanstalt fuer Wiederaufbau EUR 100,000 Gemeinsame Deutsche 0.125% 24/2/2023 507,830 0.07 Bundeslaender 1.50% 29/1/2021 103,427 0.01 EUR 150,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 Gemeinsame Deutsche 0.375% 15/3/2023 153,816 0.02 Bundeslaender 1.75% 13/6/2022 212,928 0.03 EUR 500,000 Kreditanstalt fuer Wiederaufbau EUR 100,000 Gemeinsame Deutsche 0.125% 7/6/2023 507,802 0.07 Bundeslaender 2.25% 23/10/2023 111,039 0.02 EUR 300,000 Kreditanstalt fuer Wiederaufbau EUR 150,000 Gemeinsame Deutsche 15/9/2023 (Zero Coupon) 302,943 0.04 Bundeslaender 0.25% 18/3/2024 152,509 0.02 EUR 500,000 Kreditanstalt fuer Wiederaufbau EUR 150,000 Gemeinsame Deutsche 0.125% 15/1/2024 507,772 0.07 Bundeslaender RegS EUR 300,000 Kreditanstalt fuer Wiederaufbau 0.375% 23/6/2020 151,442 0.02 0.05% 30/5/2024* 304,128 0.04 EUR 100,000 Gemeinsame Deutsche EUR 250,000 Kreditanstalt fuer Wiederaufbau Bundeslaender RegS 1.50% 11/6/2024 271,722 0.04 0.125% 14/4/2023 101,214 0.01 EUR 300,000 Kreditanstalt fuer Wiederaufbau 0.125% 4/10/2024 304,116 0.04
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [71] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Germany continued Germany continued EUR 150,000 Kreditanstalt fuer Wiederaufbau EUR 300,000 Landesbank Hessen-Thueringen 0.625% 15/1/2025 156,271 0.02 Girozentrale RegS 2.00% EUR 300,000 Kreditanstalt fuer Wiederaufbau 26/4/2019 300,465 0.04 0.25% 30/6/2025 306,903 0.04 EUR 200,000 Landesbank Hessen-Thueringen EUR 150,000 Kreditanstalt fuer Wiederaufbau Girozentrale RegS 1.875% 0.375% 9/3/2026 153,724 0.02 26/6/2023 216,377 0.03 EUR 300,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 Landesbank Hessen-Thueringen 0.625% 22/2/2027 311,995 0.04 Girozentrale RegS 0.50% EUR 300,000 Kreditanstalt fuer Wiederaufbau 25/9/2025 204,422 0.03 0.625% 7/1/2028 311,172 0.04 EUR 200,000 Landesbank Hessen-Thueringen EUR 300,000 Kreditanstalt fuer Wiederaufbau Girozentrale RegS 0.875% 0.75% 28/6/2028 313,929 0.04 20/3/2028 208,140 0.03 EUR 250,000 Kreditanstalt fuer Wiederaufbau EUR 150,000 Landeskreditbank Baden- RegS 0.375% 22/7/2019 250,727 0.04 Wuerttemberg Foerderbank EUR 400,000 Kreditanstalt fuer Wiederaufbau RegS 0.125% 5/11/2020 151,269 0.02 RegS 0.125% 27/10/2020 403,880 0.06 EUR 150,000 Landeskreditbank Baden- EUR 600,000 Kreditanstalt fuer Wiederaufbau Wuerttemberg Foerderbank RegS 30/6/2022 (Zero Coupon) 606,246 0.09 RegS 0.375% 13/4/2026 153,054 0.02 EUR 400,000 Kreditanstalt fuer Wiederaufbau EUR 300,000 Landwirtschaftliche Rentenbank RegS 0.50% 28/9/2026 414,424 0.06 RegS 1.375% 19/11/2020 309,030 0.04 EUR 500,000 Kreditanstalt fuer Wiederaufbau EUR 300,000 Landwirtschaftliche Rentenbank RegS 0.75% 15/1/2029 522,060 0.07 RegS 0.05% 12/6/2023 303,234 0.04 EUR 200,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 Landwirtschaftliche Rentenbank RegS 0.375% 23/4/2030* 198,830 0.03 RegS 0.25% 15/7/2024* 203,650 0.03 EUR 400,000 Kreditanstalt fuer Wiederaufbau EUR 300,000 Landwirtschaftliche Rentenbank RegS 1.125% 15/9/2032 426,636 0.06 RegS 0.50% 6/3/2025 309,360 0.04 EUR 200,000 Kreditanstalt fuer Wiederaufbau EUR 100,000 Landwirtschaftliche Rentenbank RegS 1.125% 9/5/2033 212,868 0.03 RegS 0.375% 16/3/2026 102,063 0.01 EUR 100,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 Landwirtschaftliche Rentenbank RegS 1.375% 31/7/2035 109,589 0.02 RegS 0.625% 18/5/2027 207,034 0.03 EUR 50,000 Kreditanstalt fuer Wiederaufbau EUR 300,000 Landwirtschaftliche Rentenbank RegS 1.25% 4/7/2036 53,678 0.01 RegS 0.50% 28/2/2029 304,662 0.04 EUR 200,000 Kreditanstalt fuer Wiederaufbau EUR 200,000 Lanxess AG RegS 0.25% 7/10/2021 200,824 0.03 RegS 1.125% 15/6/2037 210,114 0.03 EUR 150,000 Linde AG 1.75% 17/9/2020 154,348 0.02 EUR 100,000 Land Baden-Wuerttemberg RegS EUR 100,000 Merck Financial Services GmbH 1.00% 18/7/2022 104,149 0.01 RegS 1.375% 1/9/2022 104,525 0.02 EUR 100,000 Land Baden-Wuerttemberg RegS EUR 75,000 Merck KGaA RegS FRN 12/12/2074 78,296 0.01 2.00% 13/11/2023 109,919 0.02 EUR 100,000 Muenchener Hypothekenbank eG EUR 200,000 Land Baden-Wuerttemberg RegS 0.375% 10/11/2021 101,600 0.01 0.625% 16/1/2025 207,424 0.03 EUR 100,000 Muenchener Hypothekenbank eG EUR 150,000 Land Baden-Wuerttemberg RegS 0.50% 22/4/2026 102,107 0.01 0.625% 9/2/2027 154,914 0.02 EUR 100,000 Muenchener Hypothekenbank eG EUR 200,000 Land Berlin RegS 0.25% 15/7/2020 201,684 0.03 RegS 0.50% 7/6/2023 102,411 0.01 EUR 100,000 Land Berlin RegS 1.875% 10/9/2021 105,419 0.02 EUR 200,000 Muenchener Hypothekenbank eG EUR 200,000 Land Berlin RegS 1.625% 3/6/2024 217,596 0.03 RegS 0.625% 10/11/2027 204,726 0.03 EUR 150,000 Land Berlin RegS 0.50% 10/2/2025 154,324 0.02 EUR 100,000 Muenchener Hypothekenbank eG EUR 400,000 Land Berlin RegS 0.625% 20/3/2026 413,988 0.06 RegS 2.50% 4/7/2028 118,881 0.02 EUR 100,000 Land Berlin RegS 1.00% 19/5/2032 103,301 0.01 EUR 100,000 Muenchener Rueckversicherungs- EUR 200,000 Land Berlin RegS 1.30% 13/6/2033 212,818 0.03 Gesellschaft AG in Muenchen EUR 100,000 Land Berlin RegS 0.625% 25/8/2036 94,755 0.01 RegS FRN 26/5/2041 111,868 0.02 EUR 100,000 Land Thueringen RegS 0.50% EUR 100,000 Muenchener Rueckversicherungs- 12/5/2025 102,867 0.01 Gesellschaft AG in Muenchen EUR 150,000 Land Thueringen RegS 0.50% RegS FRN 26/5/2049 109,933 0.02 2/3/2027 153,278 0.02 EUR 150,000 Norddeutsche Landesbank EUR 75,000 Landesbank Baden-Wuerttemberg Girozentrale 0.25% 28/10/2026 149,728 0.02 RegS 0.25% 21/7/2020 75,564 0.01 EUR 300,000 NRW Bank 0.25% 20/1/2022 304,308 0.04 EUR 100,000 Landesbank Baden-Wuerttemberg EUR 300,000 NRW Bank 1/2/2022 (Zero Coupon) 302,391 0.04 RegS 0.25% 26/10/2021 101,274 0.01 EUR 200,000 NRW Bank RegS 4.25% 29/4/2019 200,700 0.03 EUR 200,000 Landesbank Baden-Wuerttemberg EUR 300,000 NRW Bank RegS 0.25% 16/5/2024 304,716 0.04 RegS 0.20% 13/12/2021 200,412 0.03 EUR 150,000 NRW Bank RegS 0.25% 10/3/2025 151,896 0.02 EUR 100,000 Landesbank Baden-Wuerttemberg EUR 200,000 NRW Bank RegS 0.50% 11/5/2026 205,192 0.03 RegS 0.20% 10/1/2024 101,091 0.01 EUR 100,000 NRW Bank RegS 0.50% 13/9/2027 101,858 0.01 EUR 100,000 Landesbank Baden-Wuerttemberg EUR 200,000 NRW Bank RegS 0.75% 30/6/2028 207,140 0.03 RegS 0.375% 27/2/2025 101,638 0.01 EUR 100,000 O2 Telefonica Deutschland EUR 100,000 Landesbank Baden-Wuerttemberg Finanzierungs GmbH RegS RegS 3.625% 16/6/2025 110,786 0.02 1.75% 5/7/2025 102,470 0.01 EUR 100,000 Landesbank Baden-Wuerttemberg EUR 100,000 Robert Bosch GmbH RegS RegS FRN 27/5/2026 102,854 0.01 1.75% 8/7/2024 108,382 0.02
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[72] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Germany continued Germany continued EUR 50,000 SAP SE RegS 1.125% 20/2/2023 52,170 0.01 EUR 100,000 State of North Rhine-Westphalia EUR 50,000 SAP SE RegS 1.75% 22/2/2027 54,571 0.01 Germany RegS 2.00% 15/10/2025 112,514 0.02 EUR 200,000 SAP SE RegS 1.25% 10/3/2028 209,221 0.03 EUR 200,000 State of North Rhine-Westphalia EUR 100,000 SAP SE RegS 1.375% 13/3/2030 104,884 0.02 Germany RegS 0.50% 16/2/2027 204,558 0.03 EUR 50,000 Schaeffler AG RegS 2.875% EUR 200,000 State of North Rhine-Westphalia 26/3/2027 51,475 0.01 Germany RegS 0.95% 13/3/2028 211,054 0.03 EUR 100,000 Sparkasse KoelnBonn RegS EUR 100,000 State of North Rhine-Westphalia 1.125% 14/10/2024 106,048 0.02 Germany RegS 0.625% 21/7/2031 99,017 0.01 EUR 300,000 State of Brandenburg RegS 0.25% EUR 150,000 State of North Rhine-Westphalia 19/10/2026 301,905 0.04 Germany RegS 2.375% 13/5/2033 181,033 0.03 EUR 100,000 State of Bremen RegS 0.125% EUR 100,000 State of North Rhine-Westphalia 30/5/2023 101,131 0.01 Germany RegS 1.25% 12/5/2036 104,278 0.02 EUR 100,000 State of Bremen RegS 1.125% EUR 150,000 State of North Rhine-Westphalia 30/10/2024 106,372 0.02 Germany RegS 1.65% 22/2/2038 165,580 0.02 EUR 100,000 State of Bremen RegS 0.50% EUR 100,000 State of North Rhine-Westphalia 3/3/2025 102,803 0.01 Germany RegS 0.75% 16/8/2041 92,214 0.01 EUR 100,000 State of Bremen RegS 1.20% EUR 400,000 State of North Rhine-Westphalia 30/1/2034 104,168 0.02 Germany RegS 1.45% 16/2/2043* 421,984 0.06 EUR 200,000 State of Hesse 0.375% 6/7/2026 203,467 0.03 EUR 100,000 State of North Rhine-Westphalia EUR 500,000 State of Hesse RegS 10/6/2021 Germany RegS 1.65% 16/5/2047 109,156 0.02 (Zero Coupon) 503,830 0.07 EUR 100,000 State of North Rhine-Westphalia EUR 100,000 State of Hesse RegS 15/9/2021 Germany RegS 1.55% 16/6/2048 106,507 0.02 (Zero Coupon) 100,668 0.01 EUR 100,000 State of North Rhine-Westphalia EUR 200,000 State of Hesse RegS 1.75% Germany RegS 1.75% 26/10/2057 110,040 0.02 20/1/2023 215,008 0.03 EUR 150,000 State of North Rhine-Westphalia EUR 150,000 State of Hesse RegS 0.375% Germany RegS 1.75% 11/7/2068 160,261 0.02 10/3/2023 153,321 0.02 EUR 150,000 State of Rhineland-Palatinate EUR 150,000 State of Hesse RegS 1.375% 0.125% 1/3/2023 151,824 0.02 10/6/2024 161,310 0.02 EUR 200,000 State of Rhineland-Palatinate EUR 100,000 State of Hesse RegS 0.50% RegS 16/9/2019 (Zero Coupon) 200,373 0.03 17/2/2025 103,005 0.01 EUR 250,000 State of Rhineland-Palatinate EUR 100,000 State of Hesse RegS 0.625% RegS 2.375% 23/2/2022 269,462 0.04 7/4/2027 103,229 0.01 EUR 100,000 State of Rhineland-Palatinate EUR 50,000 State of Lower Saxony RegS RegS 0.50% 21/1/2025 102,948 0.01 1.375% 26/9/2019 50,431 0.01 EUR 200,000 State of Saxony-Anhalt RegS EUR 300,000 State of Lower Saxony RegS 1.625% 25/4/2023 214,668 0.03 1/3/2021 (Zero Coupon) 302,035 0.04 EUR 200,000 State of Saxony-Anhalt RegS EUR 300,000 State of Lower Saxony RegS 0.50% 25/6/2027 204,161 0.03 0.125% 7/3/2023 303,648 0.04 EUR 200,000 State of Schleswig-Holstein EUR 100,000 State of Lower Saxony RegS Germany RegS 0.50% 19/5/2026 205,174 0.03 2.125% 11/10/2023 110,211 0.02 EUR 100,000 Talanx AG 3.125% 13/2/2023 111,750 0.02 EUR 100,000 State of Lower Saxony RegS EUR 100,000 TLG Immobilien AG RegS 1.375% 2.125% 16/1/2024 110,697 0.02 27/11/2024 100,545 0.01 EUR 450,000 State of Lower Saxony RegS EUR 150,000 UniCredit Bank AG RegS 0.125% 2/8/2024 (Zero Coupon) 451,289 0.06 1/3/2022 151,333 0.02 EUR 50,000 State of Lower Saxony RegS EUR 200,000 UniCredit Bank AG RegS 0.50% 0.625% 20/1/2025 51,805 0.01 4/5/2026 203,526 0.03 EUR 200,000 State of Lower Saxony RegS EUR 200,000 UniCredit Bank AG RegS 0.875% 0.50% 8/6/2026 205,135 0.03 11/1/2029 206,724 0.03 EUR 150,000 State of Lower Saxony RegS EUR 100,000 Vier Gas Transport GmbH RegS 0.75% 15/2/2028 155,747 0.02 2.00% 12/6/2020 102,590 0.01 EUR 400,000 State of North Rhine-Westphalia EUR 100,000 Vier Gas Transport GmbH RegS Germany RegS 1.75% 17/5/2019 401,084 0.06 1.50% 25/9/2028 106,442 0.02 EUR 300,000 State of North Rhine-Westphalia EUR 100,000 Volkswagen Bank GmbH RegS Germany RegS 0.50% 15/12/2021 306,649 0.04 0.75% 15/6/2023 99,104 0.01 EUR 300,000 State of North Rhine-Westphalia EUR 200,000 Volkswagen Bank GmbH RegS Germany RegS 1.875% 15/9/2022 322,077 0.05 1.875% 31/1/2024 205,276 0.03 EUR 100,000 State of North Rhine-Westphalia EUR 200,000 Volkswagen Bank GmbH RegS Germany RegS 0.375% 16/2/2023 102,210 0.01 1.25% 10/6/2024 198,410 0.03 EUR 500,000 State of North Rhine-Westphalia EUR 125,000 Volkswagen Financial Services AG Germany RegS 0.125% 16/3/2023 506,160 0.07 RegS 1.375% 16/10/2023 126,551 0.02 EUR 200,000 State of North Rhine-Westphalia EUR 100,000 Volkswagen Leasing GmbH RegS Germany RegS 0.20% 17/4/2023 203,050 0.03 1.00% 16/2/2023 100,292 0.01 EUR 250,000 State of North Rhine-Westphalia EUR 150,000 Volkswagen Leasing GmbH RegS Germany RegS 0.20% 16/2/2024 253,592 0.04 1.125% 4/4/2024 148,957 0.02 EUR 500,000 State of North Rhine-Westphalia EUR 100,000 Wirtschafts- und Infrastrukturbank Germany RegS 1.00% 16/1/2025 528,915 0.07 Hessen 1.75% 15/4/2024 108,831 0.02 EUR 150,000 State of North Rhine-Westphalia 116,482,921 16.38 Germany RegS 1.25% 14/3/2025 160,916 0.02
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [73] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Hong Kong Ireland continued EUR 150,000 CGNPC International Ltd RegS EUR 500,000 Ireland Government Bond 4.50% 2.00% 11/9/2025 154,796 0.02 18/4/2020 526,620 0.07 EUR 250,000 CNAC HK Finbridge Co Ltd RegS EUR 800,000 Ireland Government Bond 5.40% 1.75% 14/6/2022 254,173 0.04 13/3/2025 1,054,848 0.15 408,969 0.06 EUR 450,000 Ireland Government Bond RegS 0.80% 15/3/2022 465,156 0.07 Hungary EUR 450,000 Ireland Government Bond RegS EUR 150,000 Hungary Government International 3.90% 20/3/2023 524,394 0.07 Bond RegS 1.25% 22/10/2025 155,681 0.02 EUR 550,000 Ireland Government Bond RegS 3.40% 18/3/2024 646,178 0.09 155,681 0.02 EUR 800,000 Ireland Government Bond RegS 1.00% 15/5/2026 847,248 0.12 Iceland EUR 600,000 Ireland Government Bond RegS EUR 100,000 Arion Banki HF RegS 0.75% 0.90% 15/5/2028 626,364 0.09 29/6/2020 100,759 0.01 EUR 250,000 Ireland Government Bond RegS EUR 100,000 Landsbankinn HF RegS 1.375% 1.10% 15/5/2029 263,352 0.04 14/3/2022 100,802 0.02 EUR 500,000 Ireland Government Bond RegS 201,561 0.03 2.40% 15/5/2030 594,325 0.08 EUR 400,000 Ireland Government Bond RegS Indonesia 1.35% 18/3/2031 426,456 0.06 EUR 200,000 Indonesia Government EUR 400,000 Ireland Government Bond RegS International Bond RegS 2.625% 1.30% 15/5/2033 419,192 0.06 14/6/2023 213,375 0.03 EUR 300,000 Ireland Government Bond RegS EUR 100,000 Indonesia Government 1.70% 15/5/2037 327,279 0.05 International Bond RegS 3.375% EUR 450,000 Ireland Government Bond RegS 30/7/2025 112,125 0.01 2.00% 18/2/2045 513,045 0.07 EUR 100,000 Indonesia Government EUR 100,000 Johnson Controls International Plc International Bond RegS 3.75% 1.00% 15/9/2023 100,938 0.01 14/6/2028 116,083 0.02 EUR 100,000 Kerry Group Financial Services Unltd Co RegS 2.375% 10/9/2025 110,646 0.02 441,583 0.06 EUR 100,000 Lunar Funding V for Swisscom AG RegS 2.00% 30/9/2020 103,162 0.01 Ireland EUR 100,000 Roadster Finance DAC RegS EUR 150,000 Abbott Ireland Financing DAC 2.375% 8/12/2027 99,917 0.01 RegS 0.875% 27/9/2023 153,579 0.02 EUR 100,000 Ryanair DAC RegS 1.125% EUR 250,000 AIB Group Plc RegS 1.50% 10/3/2023 101,854 0.01 29/3/2023 252,175 0.04 EUR 100,000 Bank of Ireland Mortgage Bank 10,375,795 1.46 RegS 3.625% 2/10/2020 105,855 0.02 EUR 100,000 Bank of Ireland Mortgage Bank Israel RegS 0.625% 14/3/2025 102,876 0.01 EUR 100,000 Israel Government International EUR 100,000 Bank of Ireland RegS 1.25% Bond RegS 2.875% 29/1/2024 112,500 0.02 9/4/2020 101,409 0.01 EUR 100,000 Israel Government International EUR 150,000 Cloverie Plc for Zurich Insurance Bond RegS 2.375% 18/1/2037 111,750 0.02 Co Ltd RegS 1.50% 15/12/2028 157,111 0.02 EUR 100,000 Israel Government International EUR 100,000 CRH Finance DAC RegS 3.125% Bond RegS 2.50% 16/1/2049 108,698 0.01 3/4/2023 111,787 0.02 332,948 0.05 EUR 100,000 ESB Finance DAC RegS 1.75% 7/2/2029 105,845 0.02 Italy EUR 150,000 ESB Finance DAC RegS 1.875% EUR 150,000 2i Rete Gas SpA RegS 1.608% 14/6/2031 157,645 0.02 31/10/2027 147,262 0.02 EUR 100,000 Fresenius Finance Ireland Plc EUR 100,000 A2A SpA RegS 1.75% 25/2/2025 103,892 0.02 RegS 1.50% 30/1/2024 103,605 0.02 EUR 100,000 ACEA SpA RegS 2.625% 15/7/2024 106,568 0.02 EUR 100,000 Fresenius Finance Ireland Plc EUR 250,000 ACEA SpA RegS 1.50% 8/6/2027 243,057 0.03 RegS 3.00% 30/1/2032 107,940 0.02 EUR 100,000 Aeroporti di Roma SpA RegS EUR 150,000 GE Capital European Funding 1.625% 8/6/2027 99,392 0.01 Unlimited Co 4.35% 3/11/2021 165,184 0.02 EUR 100,000 Assicurazioni Generali SpA RegS EUR 100,000 GE Capital European Funding 2.875% 14/1/2020 102,411 0.01 Unlimited Co 4.625% 22/2/2027 121,398 0.02 EUR 100,000 Assicurazioni Generali SpA RegS EUR 100,000 GE Capital European Funding 4.125% 4/5/2026 106,582 0.02 Unlimited Co RegS 0.80% EUR 100,000 Assicurazioni Generali SpA RegS 21/1/2022 100,978 0.01 FRN 10/7/2042 125,524 0.02 EUR 200,000 German Postal Pensions EUR 100,000 Assicurazioni Generali SpA RegS Securitisation Plc 3.75% 18/1/2021 214,243 0.03 FRN 12/12/2042 119,044 0.02 EUR 250,000 Ireland Government Bond 4.40% EUR 100,000 Assicurazioni Generali SpA RegS 18/6/2019 252,649 0.04 FRN 8/6/2048 105,445 0.02 EUR 300,000 Ireland Government Bond 5.90% EUR 100,000 Atlantia SpA RegS 1.625% 18/10/2019 310,542 0.04 3/2/2025 96,594 0.01
The notes on pages 143 to 149 form an integral part of these financial statements.
[74] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Italy continued Italy continued EUR 125,000 Atlantia SpA RegS 1.875% EUR 100,000 Italgas SpA RegS 0.50% 19/1/2022 100,985 0.01 13/7/2027 118,609 0.02 EUR 1,150,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Autostrade per l’Italia SpA RegS 0.70% 1/5/2020 1,157,452 0.16 4.375% 16/3/2020 104,346 0.02 EUR 700,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Autostrade per l’Italia SpA RegS 0.35% 15/6/2020 701,897 0.10 1.875% 4/11/2025 98,338 0.01 EUR 1,500,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Banca Monte dei Paschi di Siena 4.00% 1/9/2020 1,579,830 0.22 SpA RegS 2.00% 29/1/2024 102,030 0.01 EUR 1,150,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Banca Monte dei Paschi di Siena 0.20% 15/10/2020 1,149,379 0.16 SpA RegS 2.875% 16/7/2024 212,974 0.03 EUR 800,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Banca Popolare di Milano Scarl 0.65% 1/11/2020 804,648 0.11 RegS 0.875% 14/9/2022 100,958 0.01 EUR 2,000,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Banca Popolare di Sondrio SCPA 3.75% 1/3/2021 2,125,000 0.30 RegS 1.375% 5/8/2019 100,543 0.01 EUR 950,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Banco BPM SpA RegS 1.125% 0.05% 15/4/2021 940,709 0.13 25/9/2023 203,370 0.03 EUR 1,600,000 Italy Buoni Poliennali Del Tesoro EUR 150,000 BPER Banca RegS 0.50% 22/7/2020 151,088 0.02 4.75% 1/9/2021 1,751,976 0.25 EUR 100,000 BPER Banca RegS 0.875% EUR 1,200,000 Italy Buoni Poliennali Del Tesoro 22/1/2022 101,884 0.01 0.35% 1/11/2021 1,187,892 0.17 EUR 200,000 Cassa Depositi e Prestiti SpA EUR 1,100,000 Italy Buoni Poliennali Del Tesoro RegS 1.875% 7/2/2026 193,881 0.03 2.15% 15/12/2021 1,137,741 0.16 EUR 100,000 CDP Reti SpA RegS 1.875% EUR 2,050,000 Italy Buoni Poliennali Del Tesoro 29/5/2022 101,667 0.01 5.00% 1/3/2022 2,286,068 0.32 EUR 100,000 Credit Agricole Italia SpA RegS EUR 1,200,000 Italy Buoni Poliennali Del Tesoro 0.875% 31/1/2022 102,350 0.01 1.20% 1/4/2022 1,207,344 0.17 EUR 100,000 Credit Agricole Italia SpA RegS EUR 1,000,000 Italy Buoni Poliennali Del Tesoro 0.875% 16/6/2023 102,746 0.01 1.35% 15/4/2022 1,009,970 0.14 EUR 100,000 Credit Agricole Italia SpA RegS EUR 600,000 Italy Buoni Poliennali Del Tesoro 0.25% 30/9/2024 99,398 0.01 5.50% 1/9/2022 687,018 0.10 EUR 100,000 Credit Agricole Italia SpA RegS EUR 800,000 Italy Buoni Poliennali Del Tesoro 1.00% 25/3/2027 101,124 0.01 1.45% 15/9/2022 808,808 0.11 EUR 100,000 Credito Emiliano SpA RegS EUR 1,500,000 Italy Buoni Poliennali Del Tesoro 0.875% 5/11/2021 102,335 0.01 0.95% 1/3/2023 1,480,065 0.21 EUR 100,000 Enel SpA RegS FRN 24/11/2078 97,824 0.01 EUR 2,000,000 Italy Buoni Poliennali Del Tesoro EUR 150,000 Eni SpA RegS 4.125% 16/9/2019 152,974 0.02 0.95% 15/3/2023 1,972,990 0.28 EUR 100,000 Eni SpA RegS 0.75% 17/5/2022 102,441 0.01 EUR 1,000,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Eni SpA RegS 3.25% 10/7/2023 113,483 0.02 4.50% 1/5/2023 1,122,970 0.16 EUR 200,000 Eni SpA RegS 1.00% 14/3/2025 204,961 0.03 EUR 900,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Eni SpA RegS 1.50% 2/2/2026 105,294 0.02 0.65% 15/10/2023 869,706 0.12 EUR 100,000 Eni SpA RegS 1.50% 17/1/2027 105,185 0.02 EUR 900,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Eni SpA RegS 1.625% 17/5/2028 105,342 0.02 9.00% 1/11/2023 1,197,216 0.17 EUR 100,000 Esselunga SpA RegS 0.875% EUR 1,900,000 Italy Buoni Poliennali Del Tesoro 25/10/2023 98,268 0.01 4.50% 1/3/2024 2,153,118 0.30 EUR 200,000 FCA Bank SpA/Ireland RegS EUR 1,100,000 Italy Buoni Poliennali Del Tesoro 1.00% 15/11/2021 202,120 0.03 1.85% 15/5/2024 1,109,713 0.16 EUR 200,000 Ferrovie dello Stato Italiane SpA EUR 1,050,000 Italy Buoni Poliennali Del Tesoro RegS 1.50% 27/6/2025 197,591 0.03 3.75% 1/9/2024 1,155,472 0.16 EUR 100,000 Hera SpA RegS 5.20% 29/1/2028 125,854 0.02 EUR 950,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Intesa Sanpaolo SpA RegS 2.50% 1/12/2024 985,644 0.14 3.75% 25/9/2019 203,841 0.03 EUR 1,000,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Intesa Sanpaolo SpA RegS 1.45% 15/5/2025 973,060 0.14 2.75% 20/3/2020 205,338 0.03 EUR 1,100,000 Italy Buoni Poliennali Del Tesoro EUR 50,000 Intesa Sanpaolo SpA RegS 1.50% 1/6/2025 1,074,265 0.15 4.125% 14/4/2020 52,141 0.01 EUR 1,000,000 Italy Buoni Poliennali Del Tesoro EUR 150,000 Intesa Sanpaolo SpA RegS 2.00% 1/12/2025 1,001,255 0.14 2.00% 18/6/2021 155,278 0.02 EUR 1,200,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Intesa Sanpaolo SpA RegS 1.60% 1/6/2026 1,164,810 0.16 0.625% 20/1/2022 203,767 0.03 EUR 1,800,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Intesa Sanpaolo SpA RegS 2.20% 1/6/2027 1,794,483 0.25 0.875% 27/6/2022 100,301 0.01 EUR 2,050,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Intesa Sanpaolo SpA RegS 2.05% 1/8/2027 2,015,970 0.28 0.625% 23/3/2023 101,930 0.01 EUR 400,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Intesa Sanpaolo SpA RegS 6.50% 1/11/2027 528,480 0.07 1.375% 18/1/2024 200,274 0.03 EUR 1,000,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Intesa Sanpaolo SpA RegS 5.25% 1/11/2029 1,240,560 0.17 0.50% 5/3/2024 202,111 0.03 EUR 1,250,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Intesa Sanpaolo SpA RegS 5.75% 1/2/2033 1,646,600 0.23 1.125% 16/6/2027 206,601 0.03 EUR 1,800,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Iren SpA RegS 1.50% 24/10/2027 96,108 0.01 RegS ‘144A’ 4.50% 1/2/2020 1,867,140 0.26
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [75] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Italy continued Italy continued EUR 1,250,000 Italy Buoni Poliennali Del Tesoro EUR 550,000 Italy Buoni Poliennali Del Tesoro RegS 4.25% 1/3/2020 1,298,125 0.18 RegS ‘144A’ 2.80% 1/3/2067 466,229 0.07 EUR 1,000,000 Italy Buoni Poliennali Del Tesoro EUR 400,000 Italy Certificati di Credito del Tesoro RegS ‘144A’ 3.75% 1/5/2021 1,065,740 0.15 30/5/2019 (Zero Coupon) 400,148 0.06 EUR 1,450,000 Italy Buoni Poliennali Del Tesoro EUR 700,000 Italy Certificati di Credito del Tesoro RegS 0.45% 1/6/2021 1,446,897 0.20 27/11/2020 (Zero Coupon) 695,394 0.10 EUR 1,650,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Luxottica Group SpA RegS 2.625% RegS ‘144A’ 3.75% 1/8/2021 1,765,417 0.25 10/2/2024 111,142 0.02 EUR 200,000 Italy Buoni Poliennali Del Tesoro EUR 125,000 Mediobanca Banca di Credito RegS 2.30% 15/10/2021 207,454 0.03 Finanziario SpA RegS 0.75% EUR 300,000 Italy Buoni Poliennali Del Tesoro 17/2/2020 125,715 0.02 RegS 0.90% 1/8/2022 298,020 0.04 EUR 100,000 Mediobanca Banca di Credito EUR 1,900,000 Italy Buoni Poliennali Del Tesoro Finanziario SpA RegS 3.625% RegS 5.50% 1/11/2022 2,184,734 0.31 17/10/2023 114,863 0.02 EUR 1,100,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 RAI-Radiotelevisione Italiana SpA RegS ‘144A’ 4.75% 1/8/2023 1,252,493 0.18 RegS 1.50% 28/5/2020 101,337 0.01 EUR 800,000 Italy Buoni Poliennali Del Tesoro EUR 550,000 Republic of Italy Government RegS 2.45% 1/10/2023 832,528 0.12 International Bond RegS 5.125% EUR 1,550,000 Italy Buoni Poliennali Del Tesoro 31/7/2024 639,919 0.09 RegS 1.45% 15/11/2024 1,521,635 0.21 EUR 300,000 Snam SpA RegS 25/10/2020 EUR 1,500,000 Italy Buoni Poliennali Del Tesoro (Zero Coupon) 300,369 0.04 RegS ‘144A’ 5.00% 1/3/2025 1,760,160 0.25 EUR 100,000 Snam SpA RegS 1.25% 28/8/2025 102,280 0.01 EUR 700,000 Italy Buoni Poliennali Del Tesoro EUR 125,000 Snam SpA RegS 0.875% 25/10/2026 121,764 0.02 RegS 2.50% 15/11/2025 719,537 0.10 EUR 50,000 Terna Rete Elettrica Nazionale SpA EUR 1,300,000 Italy Buoni Poliennali Del Tesoro RegS 4.75% 15/3/2021 54,661 0.01 RegS ‘144A’ 4.50% 1/3/2026 1,501,090 0.21 EUR 100,000 Terna Rete Elettrica Nazionale SpA EUR 2,000,000 Italy Buoni Poliennali Del Tesoro RegS 0.875% 2/2/2022 101,911 0.01 RegS 1.25% 1/12/2026 1,886,660 0.27 EUR 100,000 Terna Rete Elettrica Nazionale SpA EUR 1,600,000 Italy Buoni Poliennali Del Tesoro RegS 1.00% 23/7/2023 101,973 0.01 RegS 2.00% 1/2/2028 1,562,240 0.22 EUR 50,000 UniCredit SpA 4.375% 29/1/2020 51,813 0.01 EUR 2,300,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 UniCredit SpA RegS 2.00% RegS ‘144A’ 4.75% 1/9/2028* 2,753,974 0.39 4/3/2023 103,554 0.02 EUR 500,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 UniCredit SpA RegS 3.00% RegS 2.80% 1/12/2028 513,665 0.07 31/1/2024 112,592 0.02 EUR 1,450,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 UniCredit SpA RegS 2.125% RegS ‘144A’ 3.50% 1/3/2030 1,561,273 0.22 24/10/2026 102,788 0.01 EUR 2,250,000 Italy Buoni Poliennali Del Tesoro EUR 400,000 UniCredit SpA RegS 0.375% RegS 6.00% 1/5/2031 2,988,945 0.42 31/10/2026* 387,998 0.06 EUR 1,750,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Unione di Banche Italiane SpA RegS ‘144A’ 1.65% 1/3/2032 1,546,799 0.22 RegS 3.125% 14/10/2020 105,076 0.02 EUR 1,200,000 Italy Buoni Poliennali Del Tesoro EUR 300,000 Unione di Banche Italiane SpA RegS ‘144A’ 2.45% 1/9/2033 1,139,040 0.16 RegS 0.75% 17/10/2022 295,965 0.04 EUR 1,250,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Unione di Banche Italiane SpA RegS ‘144A’ 5.00% 1/8/2034 1,550,650 0.22 RegS 1.25% 7/2/2025 104,824 0.02 EUR 500,000 Italy Buoni Poliennali Del Tesoro EUR 200,000 Unione di Banche Italiane SpA RegS ‘144A’ 3.35% 1/3/2035 518,155 0.07 RegS 0.375% 14/9/2026 195,460 0.03 EUR 1,500,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Unione di Banche Italiane SpA RegS ‘144A’ 2.25% 1/9/2036 1,349,085 0.19 RegS 1.125% 4/10/2027 102,715 0.01 EUR 1,350,000 Italy Buoni Poliennali Del Tesoro 100,016,246 14.07 RegS ‘144A’ 4.00% 1/2/2037 1,507,099 0.21 EUR 850,000 Italy Buoni Poliennali Del Tesoro Japan RegS ‘144A’ 2.95% 1/9/2038 816,501 0.12 EUR 100,000 MUFG Bank Ltd RegS 0.875% EUR 1,350,000 Italy Buoni Poliennali Del Tesoro 11/3/2022 101,932 0.01 RegS ‘144A’ 5.00% 1/8/2039 1,681,155 0.24 EUR 100,000 Sumitomo Mitsui Banking Corp EUR 1,450,000 Italy Buoni Poliennali Del Tesoro RegS 2.25% 16/12/2020 104,120 0.02 RegS ‘144A’ 5.00% 1/9/2040 1,799,435 0.25 EUR 300,000 Sumitomo Mitsui Banking Corp EUR 1,550,000 Italy Buoni Poliennali Del Tesoro RegS 0.55% 6/11/2023 304,725 0.04 RegS ‘144A’ 4.75% 1/9/2044 1,882,738 0.27 EUR 100,000 Sumitomo Mitsui Financial Group EUR 950,000 Italy Buoni Poliennali Del Tesoro Inc RegS 0.819% 23/7/2023 102,010 0.01 RegS ‘144A’ 3.25% 1/9/2046 928,967 0.13 EUR 150,000 Sumitomo Mitsui Financial Group EUR 1,150,000 Italy Buoni Poliennali Del Tesoro Inc RegS 1.546% 15/6/2026* 158,854 0.02 RegS ‘144A’ 2.70% 1/3/2047 1,019,837 0.14 EUR 250,000 Takeda Pharmaceutical Co Ltd EUR 900,000 Italy Buoni Poliennali Del Tesoro RegS 2.25% 21/11/2026 269,240 0.04 RegS ‘144A’ 3.45% 1/3/2048 900,432 0.13 EUR 100,000 Takeda Pharmaceutical Co Ltd EUR 450,000 Italy Buoni Poliennali Del Tesoro RegS 3.00% 21/11/2030 110,023 0.02 RegS ‘144A’ 3.85% 1/9/2049 472,603 0.07 1,150,904 0.16
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[76] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Jersey Luxembourg continued EUR 100,000 Aptiv Plc 1.60% 15/9/2028 99,904 0.01 EUR 450,000 European Financial Stability Facility EUR 100,000 Atrium European Real Estate Ltd RegS 1.875% 23/5/2023 489,028 0.07 RegS 3.625% 17/10/2022 107,341 0.02 EUR 300,000 European Financial Stability Facility EUR 150,000 Glencore Finance Europe Ltd RegS 0.125% 17/10/2023 304,104 0.04 RegS 1.25% 17/3/2021 153,299 0.02 EUR 400,000 European Financial Stability Facility EUR 100,000 Glencore Finance Europe Ltd RegS 19/4/2024 (Zero Coupon) 401,812 0.06 RegS 1.875% 13/9/2023 103,901 0.01 EUR 150,000 European Financial Stability Facility EUR 100,000 Heathrow Funding Ltd RegS RegS 1.75% 27/6/2024 164,427 0.02 1.875% 23/5/2022 105,141 0.02 EUR 400,000 European Financial Stability Facility 569,586 0.08 RegS 0.375% 11/10/2024 409,580 0.06 EUR 500,000 European Financial Stability Facility Latvia RegS 0.40% 17/2/2025 512,390 0.07 EUR 150,000 Latvia Government International EUR 200,000 European Financial Stability Facility Bond RegS 2.625% 21/1/2021 157,909 0.02 RegS 0.20% 28/4/2025 202,380 0.03 EUR 100,000 Latvia Government International EUR 200,000 European Financial Stability Facility Bond RegS 2.875% 30/4/2024 113,652 0.02 RegS 0.50% 11/7/2025 206,054 0.03 EUR 100,000 Latvia Government International EUR 200,000 European Financial Stability Facility Bond RegS 2.25% 15/2/2047 111,624 0.01 RegS 0.40% 31/5/2026 204,166 0.03 EUR 300,000 European Financial Stability Facility 383,185 0.05 RegS 0.625% 16/10/2026 310,738 0.04 EUR 300,000 European Financial Stability Facility Lithuania RegS 0.75% 3/5/2027 313,018 0.04 EUR 150,000 Lithuania Government International EUR 400,000 European Financial Stability Facility Bond RegS 1.25% 22/10/2025 157,641 0.02 RegS 0.875% 26/7/2027 421,172 0.06 EUR 100,000 Lithuania Government International EUR 300,000 European Financial Stability Facility Bond RegS 2.10% 26/5/2047 107,701 0.02 RegS 0.95% 14/2/2028 317,748 0.05 265,342 0.04 EUR 450,000 European Financial Stability Facility RegS 3.875% 30/3/2032 631,408 0.09 Luxembourg EUR 350,000 European Financial Stability Facility EUR 100,000 ADO Properties SA RegS 1.50% RegS 1.25% 24/5/2033 373,516 0.05 26/7/2024 98,930 0.01 EUR 150,000 European Financial Stability Facility EUR 100,000 Allergan Funding SCS 1.50% RegS 3.00% 4/9/2034 196,671 0.03 15/11/2023 102,643 0.01 EUR 100,000 European Financial Stability Facility EUR 100,000 Allergan Funding SCS 1.25% RegS 3.375% 3/4/2037 139,343 0.02 1/6/2024 100,529 0.01 EUR 400,000 European Financial Stability Facility EUR 125,000 Allergan Funding SCS 2.625% RegS 1.45% 5/9/2040 428,420 0.06 15/11/2028 132,404 0.02 EUR 300,000 European Financial Stability Facility EUR 125,000 ArcelorMittal RegS 2.25% 17/1/2024 130,331 0.02 RegS 1.70% 13/2/2043 333,516 0.05 EUR 100,000 Aroundtown SA RegS 2.125% EUR 100,000 European Financial Stability Facility 13/3/2023 104,971 0.02 RegS 2.35% 29/7/2044 126,044 0.02 EUR 200,000 Aroundtown SA RegS FRN EUR 450,000 European Financial Stability Facility (Perpetual) 181,088 0.03 RegS 1.20% 17/2/2045 452,668 0.06 EUR 100,000 Blackstone Property Partners EUR 150,000 European Financial Stability Facility Europe Holdings Sarl RegS RegS 1.375% 31/5/2047 155,562 0.02 2.20% 24/7/2025 102,048 0.01 EUR 200,000 European Financial Stability Facility EUR 200,000 CNH Industrial Finance Europe SA RegS 1.80% 10/7/2048 224,926 0.03 RegS 1.875% 19/1/2026 205,404 0.03 EUR 200,000 European Financial Stability Facility EUR 100,000 DH Europe Finance SA 2.50% RegS 1.75% 17/7/2053 219,660 0.03 8/7/2025 110,752 0.02 EUR 250,000 European Financial Stability Facility EUR 100,000 Dream Global Funding I Sarl RegS RegS 2.00% 28/2/2056 292,747 0.04 1.375% 21/12/2021 100,773 0.01 EUR 150,000 Gazprom OAO Via Gaz Capital SA EUR 550,000 European Financial Stability Facility RegS 3.60% 26/2/2021 158,738 0.02 RegS 1.50% 22/1/2020 558,772 0.08 EUR 150,000 Gazprom OAO Via Gaz Capital SA EUR 600,000 European Financial Stability Facility RegS 4.364% 21/3/2025 166,700 0.02 RegS 1.625% 17/7/2020 616,065 0.09 EUR 200,000 GELF Bond Issuer I SA RegS EUR 200,000 European Financial Stability Facility 1.625% 20/10/2026 203,920 0.03 RegS 1.75% 29/10/2020 206,854 0.03 EUR 100,000 Grand City Properties SA RegS EUR 200,000 European Financial Stability Facility 1.50% 17/4/2025 102,284 0.01 RegS 0.10% 19/1/2021 201,816 0.03 EUR 200,000 Grand City Properties SA RegS EUR 400,000 European Financial Stability Facility 1.375% 3/8/2026 198,604 0.03 RegS 29/3/2021 (Zero Coupon) 403,060 0.06 EUR 100,000 Grand City Properties SA RegS EUR 500,000 European Financial Stability Facility FRN (Perpetual) 95,979 0.01 RegS 1.375% 7/6/2021 519,660 0.07 EUR 50,000 Hannover Finance Luxembourg SA EUR 350,000 European Financial Stability Facility FRN 14/9/2040 53,849 0.01 RegS 2.25% 5/9/2022 381,283 0.05 EUR 100,000 Harman Finance International SCA EUR 200,000 European Financial Stability Facility 2.00% 27/5/2022 105,072 0.02 RegS 17/11/2022 (Zero Coupon) 201,955 0.03 EUR 100,000 HeidelbergCement Finance EUR 400,000 European Financial Stability Facility Luxembourg SA RegS RegS 0.50% 20/1/2023 411,612 0.06 8.50% 31/10/2019 104,995 0.02
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [77] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Luxembourg continued Mexico continued EUR 50,000 HeidelbergCement Finance EUR 50,000 Petroleos Mexicanos RegS 5.50% Luxembourg SA RegS 24/2/2025 55,000 0.01 1.625% 7/4/2026 51,270 0.01 EUR 100,000 Petroleos Mexicanos RegS 2.75% EUR 75,000 HeidelbergCement Finance 21/4/2027 89,656 0.01 Luxembourg SA RegS EUR 100,000 Petroleos Mexicanos RegS 4.875% 1.50% 14/6/2027 75,170 0.01 21/2/2028 102,000 0.01 EUR 100,000 Holcim Finance Luxembourg SA EUR 150,000 Petroleos Mexicanos RegS 4.75% RegS 1.375% 26/5/2023 103,776 0.01 26/2/2029 150,529 0.02 EUR 100,000 Holcim Finance Luxembourg SA 2,047,475 0.29 RegS 1.75% 29/8/2029 97,223 0.01 EUR 150,000 Logicor Financing Sarl RegS Morocco 1.50% 14/11/2022 151,556 0.02 EUR 100,000 Morocco Government International EUR 150,000 Luxembourg Government Bond Bond RegS 4.50% 5/10/2020 106,250 0.01 RegS 2.25% 21/3/2022 162,320 0.02 EUR 200,000 Luxembourg Government Bond 106,250 0.01 RegS 2.125% 10/7/2023 221,590 0.03 EUR 250,000 Luxembourg Government Bond Netherlands RegS 0.625% 1/2/2027 260,135 0.04 EUR 100,000 ABB Finance BV RegS 0.625% EUR 100,000 Medtronic Global Holdings SCA 3/5/2023 101,949 0.01 1.125% 7/3/2027 102,966 0.01 EUR 250,000 ABN AMRO Bank NV 3.50% EUR 100,000 Medtronic Global Holdings SCA 21/9/2022 281,786 0.04 2.25% 7/3/2039 108,772 0.02 EUR 150,000 ABN AMRO Bank NV RegS EUR 200,000 Nestle Finance International Ltd 1.875% 31/7/2019 151,120 0.02 RegS 1.25% 4/5/2020 203,276 0.03 EUR 50,000 ABN AMRO Bank NV RegS EUR 150,000 Nestle Finance International Ltd 3.625% 22/6/2020 52,410 0.01 RegS 1.25% 2/11/2029 158,055 0.02 EUR 100,000 ABN AMRO Bank NV RegS EUR 75,000 Nestle Finance International Ltd 6.375% 27/4/2021 112,651 0.02 RegS 1.75% 2/11/2037 81,848 0.01 EUR 50,000 ABN AMRO Bank NV RegS EUR 250,000 Novartis Finance SA RegS 0.125% 4.125% 28/3/2022 56,137 0.01 20/9/2023 251,640 0.04 EUR 150,000 ABN AMRO Bank NV RegS EUR 100,000 Novartis Finance SA RegS 1.375% 0.625% 31/5/2022 153,240 0.02 14/8/2030 104,996 0.02 EUR 150,000 ABN AMRO Bank NV RegS EUR 125,000 Prologis International Funding II SA 1.00% 16/4/2025 156,423 0.02 RegS 2.375% 14/11/2030 134,136 0.02 EUR 200,000 ABN AMRO Bank NV RegS EUR 150,000 Richemont International Holding FRN 30/6/2025 205,990 0.03 SA RegS 1.00% 26/3/2026 154,854 0.02 EUR 100,000 ABN AMRO Bank NV RegS EUR 100,000 Richemont International Holding 0.875% 14/1/2026 104,791 0.02 SA RegS 1.50% 26/3/2030 105,589 0.02 EUR 100,000 ABN AMRO Bank NV RegS EUR 100,000 SELP Finance Sarl RegS 1.50% FRN 18/1/2028 106,716 0.02 20/11/2025 99,822 0.01 EUR 200,000 ABN AMRO Bank NV RegS EUR 100,000 SES SA RegS 4.625% 9/3/2020 104,364 0.01 1.50% 30/9/2030 218,668 0.03 16,625,547 2.34 EUR 100,000 ABN AMRO Bank NV RegS 1.00% 13/4/2031 103,253 0.01 EUR 300,000 ABN AMRO Bank NV RegS Mexico 1.125% 12/1/2032 312,732 0.04 EUR 100,000 America Movil SAB de CV 3.00% EUR 200,000 ABN AMRO Bank NV RegS 12/7/2021 106,754 0.02 1.25% 10/1/2033 210,329 0.03 EUR 100,000 America Movil SAB de CV 1.50% EUR 100,000 ABN AMRO Bank NV RegS 10/3/2024 104,511 0.02 1.375% 12/1/2037 105,674 0.02 EUR 100,000 Fomento Economico Mexicano SAB EUR 200,000 Achmea Bank NV RegS de CV RegS 1.75% 20/3/2023 103,375 0.02 0.50% 20/2/2026 202,093 0.03 EUR 200,000 Mexico Government International EUR 100,000 Achmea BV RegS FRN (Perpetual) 101,567 0.01 Bond 2.75% 22/4/2023 215,250 0.03 EUR 100,000 Adecco International Financial EUR 100,000 Mexico Government International Services BV RegS 1.50% Bond 1.625% 6/3/2024 102,875 0.01 22/11/2022 104,584 0.02 EUR 200,000 Mexico Government International EUR 300,000 Aegon Bank NV RegS 0.75% Bond 1.375% 15/1/2025 201,750 0.03 27/6/2027 305,910 0.04 EUR 100,000 Mexico Government International EUR 100,000 Airbus Finance BV RegS 2.375% Bond 3.375% 23/2/2031 112,928 0.02 2/4/2024 110,880 0.02 EUR 100,000 Mexico Government International EUR 100,000 Airbus Finance BV RegS 1.375% Bond 3.00% 6/3/2045 100,941 0.01 13/5/2031 104,146 0.01 EUR 100,000 Mexico Government International EUR 100,000 Akzo Nobel NV RegS 2.625% Bond 4.00% 15/3/2115 94,520 0.01 27/7/2022 108,604 0.02 EUR 300,000 Petroleos Mexicanos RegS 2.50% EUR 150,000 Alliander NV RegS 2.25% 21/8/2021 305,250 0.04 14/11/2022 162,223 0.02 EUR 100,000 Petroleos Mexicanos RegS 1.875% EUR 100,000 Allianz Finance II BV FRN 8/7/2041 111,525 0.02 21/4/2022 99,149 0.01 EUR 100,000 Allianz Finance II BV RegS 3.00% EUR 100,000 Petroleos Mexicanos RegS 3.75% 13/3/2028 121,424 0.02 21/2/2024 102,987 0.02
The notes on pages 143 to 149 form an integral part of these financial statements.
[78] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Netherlands continued Netherlands continued EUR 200,000 Allianz Finance II BV RegS 1.50% EUR 150,000 Compass Group International BV 15/1/2030 212,347 0.03 RegS 0.625% 3/7/2024 152,722 0.02 EUR 100,000 Argentum Netherlands BV for EUR 100,000 Cooperatieve Rabobank UA Givaudan SA RegS 1.125% 5.875% 20/5/2019 100,809 0.01 17/9/2025 103,495 0.01 EUR 75,000 Cooperatieve Rabobank UA EUR 100,000 Argentum Netherlands BV for 3.75% 9/11/2020 79,492 0.01 Givaudan SA RegS 2.00% EUR 50,000 Cooperatieve Rabobank UA 17/9/2030 108,393 0.02 4.125% 14/7/2025 61,897 0.01 EUR 100,000 Argentum Netherlands BV for EUR 250,000 Cooperatieve Rabobank UA RegS Zurich Insurance Co Ltd RegS 4.125% 12/1/2021 269,205 0.04 FRN 1/10/2046 111,059 0.02 EUR 200,000 Cooperatieve Rabobank UA RegS EUR 125,000 ASML Holding NV RegS 1.625% 0.125% 11/10/2021 201,359 0.03 28/5/2027 132,741 0.02 EUR 250,000 Cooperatieve Rabobank UA RegS EUR 100,000 ASR Nederland NV RegS FRN 0.50% 6/12/2022 255,880 0.04 29/9/2045 110,625 0.02 EUR 100,000 Cooperatieve Rabobank UA RegS EUR 200,000 BASF Finance Europe NV RegS 2.375% 22/5/2023 109,493 0.02 10/11/2020 (Zero Coupon) 200,588 0.03 EUR 100,000 Cooperatieve Rabobank UA RegS EUR 100,000 Bayer Capital Corp BV RegS 3.875% 25/7/2023 113,689 0.02 0.625% 15/12/2022 100,759 0.01 EUR 100,000 Cooperatieve Rabobank UA RegS EUR 200,000 Bayer Capital Corp BV RegS 0.625% 27/2/2024 100,603 0.01 2.125% 15/12/2029 203,602 0.03 EUR 200,000 Cooperatieve Rabobank UA RegS EUR 100,000 Bharti Airtel International Netherlands 0.25% 31/5/2024 202,430 0.03 BV RegS 3.375% 20/5/2021 104,274 0.02 EUR 300,000 Cooperatieve Rabobank UA RegS EUR 250,000 BMW Finance NV RegS 0.125% 1.25% 23/3/2026 318,406 0.05 12/1/2021 251,260 0.04 EUR 300,000 Cooperatieve Rabobank UA RegS EUR 150,000 BMW Finance NV RegS 1.00% 0.875% 8/2/2028 310,492 0.04 15/2/2022 153,859 0.02 EUR 100,000 Cooperatieve Rabobank UA RegS EUR 75,000 BMW Finance NV RegS 1.25% 0.875% 1/2/2029 103,249 0.01 5/9/2022 77,735 0.01 EUR 150,000 Daimler International Finance BV EUR 200,000 BMW Finance NV RegS 0.75% RegS 1.00% 11/11/2025 151,437 0.02 12/7/2024* 203,284 0.03 EUR 150,000 Daimler International Finance BV EUR 100,000 BMW Finance NV RegS 1.00% RegS 1.375% 26/6/2026 153,763 0.02 21/1/2025 102,575 0.01 EUR 200,000 Daimler International Finance BV EUR 300,000 BMW Finance NV RegS 1.125% RegS 1.50% 9/2/2027 206,582 0.03 22/5/2026 306,825 0.04 EUR 100,000 de Volksbank NV RegS 1.00% EUR 200,000 BMW Finance NV RegS 1.50% 8/3/2028 104,468 0.02 6/2/2029 203,376 0.03 EUR 100,000 de Volksbank NV RegS 0.75% EUR 200,000 BNG Bank NV RegS 1.50% 24/10/2031 99,488 0.01 15/4/2020 203,970 0.03 EUR 100,000 Deutsche Post Finance BV RegS EUR 100,000 BNG Bank NV RegS 2.625% 2.95% 27/6/2022 109,690 0.02 1/9/2020 104,330 0.02 EUR 150,000 Deutsche Telekom International EUR 200,000 BNG Bank NV RegS 0.50% Finance BV 4.25% 16/3/2020 156,274 0.02 26/8/2022 204,998 0.03 EUR 200,000 Deutsche Telekom International EUR 150,000 BNG Bank NV RegS 3.875% Finance BV RegS 0.375% 26/5/2023 175,282 0.03 30/10/2021 202,066 0.03 EUR 400,000 BNG Bank NV RegS 0.05% EUR 100,000 Deutsche Telekom International 11/7/2023 403,428 0.06 Finance BV RegS 0.625% EUR 100,000 BNG Bank NV RegS 2.25% 1/12/2022 101,754 0.01 17/7/2023 110,382 0.02 EUR 50,000 Deutsche Telekom International EUR 200,000 BNG Bank NV RegS 0.25% Finance BV RegS 2.75% 7/6/2024 203,320 0.03 24/10/2024 56,098 0.01 EUR 200,000 BNG Bank NV RegS 1.125% EUR 300,000 Deutsche Telekom International 4/9/2024 212,652 0.03 Finance BV RegS 1.375% EUR 300,000 BNG Bank NV RegS 0.20% 1/12/2025 313,878 0.04 9/11/2024 303,477 0.04 EUR 200,000 Deutsche Telekom International EUR 250,000 BNG Bank NV RegS 1.00% Finance BV RegS 1.125% 12/1/2026 264,282 0.04 22/5/2026 205,847 0.03 EUR 100,000 BNG Bank NV RegS 0.625% EUR 225,000 Deutsche Telekom International 19/6/2027 102,724 0.01 Finance BV RegS 1.50% EUR 150,000 BNG Bank NV RegS 0.75% 3/4/2028 232,234 0.03 24/1/2029 154,368 0.02 EUR 50,000 E.ON International Finance BV EUR 150,000 BNG Bank NV RegS 1.50% 5.75% 7/5/2020 53,271 0.01 15/7/2039* 160,936 0.02 EUR 200,000 EDP Finance BV RegS 2.625% EUR 100,000 Bunge Finance Europe BV 18/1/2022 214,154 0.03 1.85% 16/6/2023 101,823 0.01 EUR 125,000 EDP Finance BV RegS 1.125% EUR 100,000 Compass Group Finance 12/2/2024 127,701 0.02 Netherlands BV RegS EUR 150,000 EDP Finance BV RegS 1.625% 1.50% 5/9/2028 105,727 0.02 26/1/2026 154,467 0.02
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [79] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Netherlands continued Netherlands continued EUR 100,000 ELM BV for Swiss Life Insurance & EUR 100,000 JAB Holdings BV RegS 1.75% Pension Group RegS FRN 25/6/2026 101,542 0.01 (Perpetual) 109,506 0.02 EUR 100,000 JAB Holdings BV RegS 2.00% EUR 150,000 ELM BV for Swiss Reinsurance Co 18/5/2028 102,033 0.01 Ltd RegS FRN (Perpetual) 155,935 0.02 EUR 100,000 Koninklijke Ahold Delhaize NV EUR 50,000 EnBW International Finance BV RegS 0.875% 19/9/2024 102,184 0.01 6.125% 7/7/2039 85,503 0.01 EUR 150,000 Koninklijke DSM NV RegS 1.375% EUR 100,000 EnBW International Finance BV 26/9/2022 157,693 0.02 RegS 2.50% 4/6/2026 114,123 0.02 EUR 100,000 Koninklijke KPN NV RegS 1.125% EUR 50,000 Enel Finance International NV 11/9/2028 97,608 0.01 RegS 5.00% 14/9/2022 58,455 0.01 EUR 300,000 LeasePlan Corp NV RegS 0.75% EUR 300,000 Enel Finance International NV 3/10/2022 300,120 0.04 RegS 1.00% 16/9/2024* 307,290 0.04 EUR 150,000 Linde Finance BV RegS 1.00% EUR 300,000 Enel Finance International NV 20/4/2028 156,837 0.02 RegS 1.966% 27/1/2025* 320,157 0.05 EUR 100,000 Madrilena Red de Gas Finance BV EUR 200,000 Enel Finance International NV RegS 2.25% 11/4/2029 105,396 0.02 RegS 1.50% 21/7/2025 207,788 0.03 EUR 100,000 MDC-GMTN B.V. RegS 5.875% EUR 130,000 Enel Finance International NV 14/3/2021 111,483 0.02 RegS 1.375% 1/6/2026 133,502 0.02 EUR 100,000 Mylan NV RegS 1.25% 23/11/2020 101,161 0.01 EUR 100,000 Enexis Holding NV RegS 0.875% EUR 100,000 Mylan NV RegS 2.25% 22/11/2024 102,114 0.01 28/4/2026 101,784 0.01 EUR 100,000 Nationale-Nederlanden EUR 200,000 Evonik Finance BV RegS 0.00% Levensverzekering Maatschappij 8/3/2021 200,404 0.03 NV RegS FRN 29/8/2042 125,364 0.02 EUR 100,000 Evonik Finance BV RegS 0.75% EUR 100,000 Naturgy Finance BV RegS 2.875% 7/9/2028 96,671 0.01 11/3/2024 112,503 0.02 EUR 150,000 EXOR NV RegS 2.125% 2/12/2022 157,987 0.02 EUR 200,000 Naturgy Finance BV RegS 0.875% EUR 100,000 Heineken NV RegS 3.50% 19/3/2024 115,477 0.02 15/5/2025 202,310 0.03 EUR 100,000 Heineken NV RegS 1.00% 4/5/2026 102,595 0.01 EUR 100,000 Naturgy Finance BV RegS 1.375% EUR 150,000 Heineken NV RegS 1.25% 17/3/2027 154,813 0.02 19/1/2027 103,206 0.01 EUR 100,000 Heineken NV RegS 1.50% 3/10/2029 103,821 0.01 EUR 150,000 Nederlandse Gasunie NV RegS EUR 100,000 Iberdrola International BV RegS 3.625% 13/10/2021 164,201 0.02 1.75% 17/9/2023 107,180 0.02 EUR 250,000 Nederlandse Waterschapsbank NV EUR 100,000 Iberdrola International BV RegS RegS 1.625% 23/8/2019 252,102 0.04 0.375% 15/9/2025 99,312 0.01 EUR 100,000 Nederlandse Waterschapsbank NV EUR 100,000 Iberdrola International BV RegS RegS 3.00% 28/3/2022 109,686 0.02 FRN (Perpetual) 98,858 0.01 EUR 200,000 Nederlandse Waterschapsbank NV EUR 100,000 Iberdrola International BV RegS RegS 0.50% 19/1/2023 205,239 0.03 FRN (Perpetual) 104,594 0.02 EUR 250,000 Nederlandse Waterschapsbank NV EUR 100,000 ING Bank NV RegS 1.25% RegS 1.00% 3/9/2025 265,010 0.04 13/12/2019 101,023 0.01 EUR 300,000 Nederlandse Waterschapsbank NV EUR 100,000 ING Bank NV RegS 2.00% RegS 1.00% 1/3/2028 316,965 0.04 28/8/2020 103,253 0.01 EUR 100,000 Nederlandse Waterschapsbank NV EUR 200,000 ING Bank NV RegS 3.375% RegS 0.50% 29/4/2030 99,006 0.01 10/1/2022 219,976 0.03 EUR 200,000 Nederlandse Waterschapsbank NV EUR 150,000 ING Bank NV RegS 4.50% RegS 1.25% 7/6/2032 212,293 0.03 21/2/2022 169,647 0.02 EUR 100,000 Nederlandse Waterschapsbank NV EUR 100,000 ING Bank NV RegS FRN 25/2/2026 105,575 0.02 RegS 1.25% 27/5/2036 104,375 0.02 EUR 200,000 ING Bank NV RegS 0.875% EUR 100,000 Nederlandse Waterschapsbank NV 11/4/2028 207,782 0.03 RegS 1.625% 29/1/2048 110,598 0.02 EUR 100,000 ING Bank NV RegS 0.75% EUR 450,000 Netherlands Government Bond 18/2/2029 101,986 0.01 3.75% 15/1/2023 523,570 0.07 EUR 100,000 ING Groep NV FRN 11/4/2028 105,961 0.02 EUR 900,000 Netherlands Government Bond EUR 100,000 ING Groep NV RegS 1.00% 5.50% 15/1/2028 1,341,090 0.19 20/9/2023 101,614 0.01 EUR 900,000 Netherlands Government Bond EUR 300,000 ING Groep NV RegS 1.125% RegS ‘144A’ 3.50% 15/7/2020 947,772 0.13 14/2/2025 302,037 0.04 EUR 1,100,000 Netherlands Government Bond EUR 100,000 ING Groep NV RegS 1.375% RegS ‘144A’ 3.25% 15/7/2021 1,197,856 0.17 11/1/2028 100,517 0.01 EUR 900,000 Netherlands Government Bond EUR 300,000 ING Groep NV RegS 2.00% RegS ‘144A’ 15/1/2022 20/9/2028 314,871 0.04 (Zero Coupon) 913,788 0.13 EUR 50,000 innogy Finance BV RegS 6.50% EUR 800,000 Netherlands Government Bond 10/8/2021 57,712 0.01 RegS ‘144A’ 2.25% 15/7/2022 873,896 0.12 EUR 200,000 innogy Finance BV RegS 1.50% EUR 1,000,000 Netherlands Government Bond 31/7/2029 204,325 0.03 RegS ‘144A’ 1.75% 15/7/2023 1,094,530 0.15 EUR 50,000 innogy Finance BV RegS 5.75% EUR 1,600,000 Netherlands Government Bond 14/2/2033 74,321 0.01 RegS ‘144A’ 15/1/2024 EUR 100,000 JAB Holdings BV RegS 1.50% (Zero Coupon) 1,628,192 0.23 24/11/2021 103,154 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[80] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Netherlands continued Netherlands continued EUR 950,000 Netherlands Government Bond EUR 100,000 TenneT Holding BV RegS 4.50% RegS ‘144A’ 2.00% 15/7/2024 1,068,892 0.15 9/2/2022 112,532 0.02 EUR 800,000 Netherlands Government Bond EUR 200,000 TenneT Holding BV RegS 1.375% RegS ‘144A’ 0.25% 15/7/2025 825,568 0.12 26/6/2029 208,780 0.03 EUR 1,100,000 Netherlands Government Bond EUR 100,000 TenneT Holding BV RegS 1.875% RegS ‘144A’ 0.50% 15/7/2026 1,153,306 0.16 13/6/2036 107,415 0.02 EUR 1,000,000 Netherlands Government Bond EUR 150,000 Unilever NV RegS 0.50% 3/2/2022 152,674 0.02 RegS ‘144A’ 0.75% 15/7/2027 1,066,120 0.15 EUR 150,000 Unilever NV RegS 1.00% 3/6/2023 156,117 0.02 EUR 800,000 Netherlands Government Bond EUR 100,000 Unilever NV RegS 0.875% RegS ‘144A’ 0.75% 15/7/2028 852,704 0.12 31/7/2025 103,794 0.01 EUR 350,000 Netherlands Government Bond EUR 100,000 Unilever NV RegS 1.625% RegS ‘144A’ 0.25% 15/7/2029 353,930 0.05 12/2/2033 107,121 0.02 EUR 850,000 Netherlands Government Bond EUR 100,000 Urenco Finance NV RegS 2.25% RegS ‘144A’ 2.50% 15/1/2033 1,102,620 0.16 5/8/2022 106,064 0.02 EUR 950,000 Netherlands Government Bond EUR 100,000 Van Lanschot NV RegS 0.275% RegS ‘144A’ 4.00% 15/1/2037 1,533,746 0.22 28/4/2022 101,142 0.01 EUR 930,000 Netherlands Government Bond EUR 250,000 Volkswagen International Finance RegS ‘144A’ 3.75% 15/1/2042 1,571,049 0.22 NV RegS 2.00% 14/1/2020* 254,080 0.04 EUR 925,000 Netherlands Government Bond EUR 100,000 Volkswagen International Finance RegS ‘144A’ 2.75% 15/1/2047 1,425,656 0.20 NV RegS 0.50% 30/3/2021 100,470 0.01 EUR 100,000 NIBC Bank NV RegS 0.25% EUR 100,000 Volkswagen International Finance 22/4/2022 100,999 0.01 NV RegS 1.875% 30/3/2027 98,599 0.01 EUR 100,000 NIBC Bank NV RegS 1.00% EUR 150,000 Volkswagen International Finance 24/1/2028 103,664 0.01 NV RegS 1.625% 16/1/2030 138,746 0.02 EUR 100,000 NN Group NV RegS 0.875% EUR 100,000 Volkswagen International Finance 13/1/2023 101,731 0.01 NV RegS 3.25% 18/11/2030 105,334 0.02 EUR 100,000 NN Group NV RegS 1.625% EUR 200,000 Volkswagen International Finance 1/6/2027 103,244 0.01 NV RegS 4.125% 16/11/2038 222,342 0.03 EUR 100,000 NN Group NV RegS FRN 8/4/2044 109,489 0.02 EUR 150,000 Volkswagen International Finance EUR 200,000 NN Group NV RegS FRN (Perpetual) 211,597 0.03 NV RegS FRN (Perpetual) 155,787 0.02 EUR 150,000 Nomura Europe Finance NV RegS EUR 200,000 Volkswagen International Finance 1.125% 3/6/2020 151,873 0.02 NV RegS FRN (Perpetual) 199,912 0.03 EUR 100,000 PACCAR Financial Europe BV EUR 100,000 Volkswagen International Finance RegS 0.125% 7/3/2022 100,486 0.01 NV RegS FRN (Perpetual) 94,698 0.01 EUR 100,000 RELX Finance BV RegS 1.00% EUR 200,000 Volkswagen International Finance 22/3/2024 102,600 0.01 NV RegS FRN (Perpetual) 198,914 0.03 EUR 100,000 RELX Finance BV RegS 1.375% EUR 200,000 Volkswagen International Finance 12/5/2026 102,757 0.01 NV RegS FRN (Perpetual) 197,386 0.03 EUR 100,000 Repsol International Finance BV EUR 100,000 Volkswagen International Finance RegS 2.625% 28/5/2020 103,194 0.01 NV RegS FRN (Perpetual) 96,000 0.01 EUR 100,000 Repsol International Finance BV EUR 100,000 Volkswagen International Finance RegS 2.25% 10/12/2026 111,375 0.02 NV RegS FRN (Perpetual) 100,139 0.01 EUR 150,000 Roche Finance Europe BV RegS EUR 100,000 Vonovia Finance BV RegS 3.125% 0.875% 25/2/2025 156,375 0.02 25/7/2019 101,022 0.01 EUR 100,000 Royal Schiphol Group NV RegS EUR 100,000 Vonovia Finance BV RegS 1.80% 2.00% 5/10/2026 110,551 0.02 29/6/2025 104,870 0.02 EUR 150,000 Schaeffler Finance BV RegS EUR 300,000 Vonovia Finance BV RegS 1.50% 3.25% 15/5/2025 156,150 0.02 14/1/2028 305,508 0.04 EUR 100,000 Shell International Finance BV EUR 100,000 Vonovia Finance BV RegS 2.125% 2.50% 24/3/2026 114,572 0.02 22/3/2030 105,904 0.02 EUR 200,000 Shell International Finance BV EUR 100,000 Vonovia Finance BV RegS FRN RegS 1.625% 24/3/2021 207,380 0.03 (Perpetual) 106,860 0.02 EUR 200,000 Shell International Finance BV EUR 100,000 Wolters Kluwer NV RegS 1.50% RegS 1.00% 6/4/2022 206,808 0.03 22/3/2027 104,519 0.02 EUR 150,000 Shell International Finance BV EUR 100,000 WPC Eurobond BV 2.125% RegS 0.75% 15/8/2028 151,893 0.02 15/4/2027 100,416 0.01 EUR 200,000 Siemens Financieringsmaatschappij EUR 150,000 Wuerth Finance International BV NV RegS 1.50% 10/3/2020 203,204 0.03 RegS 1.00% 19/5/2022 154,239 0.02 EUR 200,000 Siemens Financieringsmaatschappij 50,636,470 7.12 NV RegS 1.00% 6/9/2027 206,872 0.03 EUR 250,000 Siemens Financieringsmaatschappij New Zealand NV RegS 0.90% 28/2/2028 253,810 0.04 EUR 200,000 ANZ New Zealand Int’l Ltd RegS EUR 75,000 Siemens Financieringsmaatschappij 0.40% 1/3/2022 201,488 0.03 NV RegS 1.375% 6/9/2030 78,327 0.01 EUR 175,000 ASB Finance Ltd RegS 0.75% EUR 100,000 Stedin Holding NV RegS 0.875% 13/3/2024 177,042 0.03 24/10/2025 101,300 0.01 EUR 100,000 ASB Finance Ltd/London RegS EUR 100,000 Syngenta Finance NV RegS 1.25% 0.25% 14/4/2021 100,792 0.01 10/9/2027 91,793 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [81] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
New Zealand continued Peru EUR 200,000 BNZ International Funding Ltd/ EUR 100,000 Peruvian Government International London RegS 0.625% 3/7/2025 203,730 0.03 Bond 3.75% 1/3/2030 122,133 0.02 EUR 100,000 Westpac Securities NZ Ltd/London 122,133 0.02 RegS 0.25% 6/4/2022 100,919 0.01 783,971 0.11 Poland EUR 200,000 Bank Gospodarstwa Krajowego Norway RegS 2.00% 1/6/2030 208,199 0.03 EUR 100,000 Avinor AS RegS 1.25% 9/2/2027 104,433 0.02 EUR 100,000 mBank SA RegS 1.058% 5/9/2022 100,407 0.01 EUR 150,000 DNB Bank ASA RegS 3.875% EUR 200,000 PKO Bank Hipoteczny SA RegS 29/6/2020 157,529 0.02 0.125% 24/6/2022 199,869 0.03 EUR 150,000 DNB Bank ASA RegS 4.375% EUR 250,000 Powszechna Kasa Oszczednosci 24/2/2021 162,847 0.02 Bank Polski SA RegS 0.75% EUR 100,000 DNB Boligkreditt AS RegS 1.875% 25/7/2021 251,875 0.04 18/6/2019 100,482 0.01 EUR 500,000 Republic of Poland Government EUR 300,000 DNB Boligkreditt AS RegS 0.05% International Bond 4.00% 11/1/2022 301,773 0.04 23/3/2021 541,515 0.08 EUR 100,000 DNB Boligkreditt AS RegS 2.75% EUR 300,000 Republic of Poland Government 21/3/2022 108,622 0.02 International Bond RegS 4.20% EUR 200,000 DNB Boligkreditt AS RegS 1.875% 15/4/2020 314,385 0.04 21/11/2022 214,306 0.03 EUR 150,000 Republic of Poland Government EUR 200,000 DNB Boligkreditt AS RegS 0.25% International Bond RegS 3.75% 18/4/2023 202,344 0.03 19/1/2023 171,799 0.02 EUR 200,000 DNB Boligkreditt AS RegS 0.625% EUR 500,000 Republic of Poland Government 19/6/2025 205,261 0.03 International Bond RegS 3.00% EUR 200,000 DNB Boligkreditt AS RegS 0.625% 15/1/2024 570,255 0.08 14/1/2026 204,935 0.03 EUR 150,000 Republic of Poland Government EUR 150,000 Eika Boligkreditt AS RegS 2.125% International Bond RegS 3.375% 30/1/2023 162,460 0.02 9/7/2024 175,410 0.03 EUR 200,000 Eika Boligkreditt AS RegS 0.875% EUR 100,000 Republic of Poland Government 1/2/2029 204,360 0.03 International Bond RegS 1.50% EUR 100,000 Equinor ASA RegS 2.00% 10/9/2020 103,122 0.02 19/1/2026 107,527 0.02 EUR 150,000 Equinor ASA RegS 0.75% 9/11/2026 153,517 0.02 EUR 200,000 Republic of Poland Government EUR 150,000 Equinor ASA RegS 1.625% 17/2/2035 159,583 0.02 International Bond RegS 1.125% EUR 100,000 Kommunalbanken AS RegS 7/8/2026 209,886 0.03 0.875% 24/5/2027 104,206 0.02 EUR 150,000 Republic of Poland Government EUR 300,000 SpareBank 1 Boligkreditt AS RegS International Bond RegS 1.375% 1.50% 20/1/2020 304,395 0.04 22/10/2027 159,069 0.02 EUR 200,000 SpareBank 1 Boligkreditt AS RegS EUR 100,000 Republic of Poland Government 1.50% 12/6/2020 204,312 0.03 International Bond RegS 1.00% EUR 100,000 SpareBank 1 Boligkreditt AS RegS 25/10/2028 102,015 0.01 0.25% 30/8/2026 99,471 0.01 EUR 150,000 Republic of Poland Government EUR 150,000 SpareBank 1 Boligkreditt AS RegS International Bond RegS 2.375% 1.00% 30/1/2029 155,728 0.02 18/1/2036 168,032 0.02 EUR 175,000 Sparebank 1 Oestlandet RegS EUR 100,000 Tauron Polska Energia SA RegS 0.875% 13/3/2023 177,254 0.03 2.375% 5/7/2027 100,740 0.01 EUR 125,000 SpareBank 1 SMN RegS 0.75% 8/6/2021 126,829 0.02 3,380,983 0.47 EUR 150,000 SpareBank 1 SR-Bank ASA RegS 2.125% 14/4/2021 156,378 0.02 Portugal EUR 100,000 Sparebanken Soer Boligkreditt AS EUR 100,000 Banco Comercial Portugues SA RegS 0.25% 22/3/2021 100,918 0.01 RegS 0.75% 31/5/2022 101,745 0.01 EUR 100,000 Sparebanken Soer Boligkreditt AS EUR 100,000 Banco Santander Totta SA RegS RegS 0.375% 20/2/2023 101,416 0.01 1.25% 26/9/2027 104,960 0.01 EUR 100,000 Sparebanken Vest Boligkreditt AS EUR 100,000 Brisa Concessao Rodoviaria SA RegS 0.375% 22/9/2020 100,984 0.01 RegS 2.00% 22/3/2023 106,509 0.01 EUR 100,000 Sparebanken Vest Boligkreditt AS EUR 100,000 Caixa Economica Montepio Geral RegS 0.25% 29/4/2022 101,124 0.01 Caixa Economica Bancaria SA EUR 100,000 Sparebanken Vest Boligkreditt AS RegS 0.875% 17/10/2022 101,721 0.01 RegS 0.50% 12/2/2026 101,525 0.02 EUR 200,000 Caixa Geral de Depositos SA EUR 200,000 SR-Boligkreditt AS RegS 0.375% RegS 1.00% 27/1/2022 205,594 0.03 3/10/2024 202,752 0.03 EUR 100,000 Galp Gas Natural Distribuicao SA EUR 100,000 Statkraft AS RegS 1.50% 21/9/2023 105,416 0.02 RegS 1.375% 19/9/2023 102,329 0.01 EUR 150,000 Telenor ASA RegS 2.50% 22/5/2025 165,385 0.02 EUR 600,000 Portugal Obrigacoes do Tesouro OT 4,853,667 0.68 RegS ‘144A’ 4.80% 15/6/2020 637,290 0.09 EUR 700,000 Portugal Obrigacoes do Tesouro OT Panama RegS ‘144A’ 3.85% 15/4/2021 759,650 0.11 EUR 125,000 Carnival Corp 1.875% 7/11/2022 132,076 0.02 EUR 500,000 Portugal Obrigacoes do Tesouro OT RegS ‘144A’ 2.20% 17/10/2022 542,060 0.08 132,076 0.02
The notes on pages 143 to 149 form an integral part of these financial statements.
[82] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Portugal continued Slovakia continued EUR 1,500,000 Portugal Obrigacoes do Tesouro OT EUR 100,000 Slovakia Government Bond RegS RegS ‘144A’ 4.95% 25/10/2023 1,835,790 0.26 4.35% 14/10/2025 131,653 0.02 EUR 200,000 Portugal Obrigacoes do Tesouro OT EUR 100,000 Slovakia Government Bond RegS RegS ‘144A’ 5.65% 15/2/2024 253,282 0.04 3.625% 16/1/2029 129,029 0.02 EUR 800,000 Portugal Obrigacoes do Tesouro OT EUR 100,000 Slovakia Government Bond RegS RegS ‘144A’ 2.875% 21/7/2026 920,992 0.13 1.625% 21/1/2031 108,942 0.01 EUR 1,250,000 Portugal Obrigacoes do Tesouro OT EUR 100,000 Slovakia Government Bond RegS RegS ‘144A’ 4.125% 14/4/2027 1,558,712 0.22 1.875% 9/3/2037 112,300 0.02 EUR 250,000 Portugal Obrigacoes do Tesouro OT EUR 100,000 Slovakia Government Bond RegS RegS ‘144A’ 2.125% 17/10/2028 272,598 0.04 2.00% 17/10/2047 111,798 0.02 EUR 200,000 Portugal Obrigacoes do Tesouro OT EUR 100,000 Slovakia Government Bond RegS RegS ‘144A’ 1.95% 15/6/2029 213,428 0.03 2.25% 12/6/2068 108,068 0.01 EUR 200,000 Portugal Obrigacoes do Tesouro OT EUR 200,000 Zapadoslovenska Energetika AS RegS ‘144A’ 3.875% 15/2/2030 251,088 0.04 RegS 1.75% 2/3/2028 210,909 0.03 EUR 200,000 Portugal Obrigacoes do Tesouro OT 2,478,004 0.35 RegS ‘144A’ 2.25% 18/4/2034 214,160 0.03 EUR 900,000 Portugal Obrigacoes do Tesouro OT Slovenia RegS ‘144A’ 4.10% 15/4/2037 1,187,622 0.17 EUR 300,000 Slovenia Government Bond RegS EUR 100,000 Portugal Obrigacoes do Tesouro OT 4.125% 26/1/2020 311,511 0.04 RegS ‘144A’ 4.10% 15/2/2045 134,763 0.02 EUR 150,000 Slovenia Government Bond RegS 9,504,293 1.34 3.00% 8/4/2021 160,186 0.02 EUR 200,000 Slovenia Government Bond RegS Romania 2.25% 25/3/2022* 215,374 0.03 EUR 75,000 Romanian Government International EUR 50,000 Slovenia Government Bond RegS Bond RegS 4.875% 7/11/2019 77,250 0.01 4.625% 9/9/2024 62,585 0.01 EUR 100,000 Romanian Government International EUR 50,000 Slovenia Government Bond RegS Bond RegS 4.625% 18/9/2020 106,625 0.02 5.125% 30/3/2026 66,945 0.01 EUR 100,000 Romanian Government International EUR 200,000 Slovenia Government Bond RegS Bond RegS 3.625% 24/4/2024 113,248 0.02 1.25% 22/3/2027 214,468 0.03 EUR 100,000 Romanian Government International EUR 200,000 Slovenia Government Bond RegS Bond RegS 2.75% 29/10/2025 108,000 0.02 1.00% 6/3/2028 207,913 0.03 EUR 100,000 Romanian Government International EUR 300,000 Slovenia Government Bond RegS Bond RegS 2.375% 19/4/2027 101,511 0.02 1.188% 14/3/2029 314,424 0.04 EUR 150,000 Romanian Government International EUR 100,000 Slovenia Government Bond RegS Bond RegS 2.875% 26/5/2028 154,500 0.02 2.25% 3/3/2032 116,254 0.02 EUR 100,000 Romanian Government International EUR 50,000 Slovenia Government Bond RegS Bond RegS 2.875% 11/3/2029 101,278 0.01 1.50% 25/3/2035 51,989 0.01 EUR 100,000 Romanian Government International EUR 100,000 Slovenia Government Bond RegS Bond RegS 2.50% 8/2/2030 97,875 0.01 1.75% 3/11/2040 104,126 0.01 EUR 150,000 Romanian Government International EUR 150,000 Slovenia Government Bond RegS Bond RegS 3.875% 29/10/2035 155,812 0.02 3.125% 7/8/2045* 194,790 0.03 EUR 100,000 Romanian Government International 2,020,565 0.28 Bond RegS 3.375% 8/2/2038 97,340 0.01 1,113,439 0.16 South Korea EUR 250,000 Export-Import Bank of Korea RegS Singapore 2.00% 30/4/2020 254,991 0.04 EUR 100,000 Bright Food Singapore Holdings EUR 150,000 Korea Housing Finance Corp RegS Pte Ltd RegS 1.125% 18/7/2020 99,719 0.01 0.75% 30/10/2023 152,617 0.02 EUR 200,000 DBS Bank Ltd RegS 0.375% 407,608 0.06 21/11/2024 201,305 0.03 EUR 375,000 Oversea-Chinese Banking Corp Spain Ltd RegS 0.375% 1/3/2023 379,762 0.05 EUR 100,000 Abertis Infraestructuras SA RegS EUR 100,000 United Overseas Bank Ltd RegS 1.50% 27/6/2024 101,235 0.01 0.125% 2/3/2022 100,504 0.02 EUR 100,000 Abertis Infraestructuras SA RegS 781,290 0.11 2.50% 27/2/2025 106,207 0.02 EUR 100,000 Abertis Infraestructuras SA RegS Slovakia 3.00% 27/3/2031 101,722 0.01 EUR 350,000 Slovakia Government Bond EUR 200,000 ACS Servicios Comunicaciones 13/11/2023 (Zero Coupon) 351,445 0.05 y Energia SL RegS 1.875% EUR 200,000 Slovakia Government Bond 0.625% 20/4/2026 197,024 0.03 22/5/2026 205,992 0.03 EUR 200,000 Adif - Alta Velocidad RegS 0.80% EUR 300,000 Slovakia Government Bond RegS 5/7/2023 204,434 0.03 4.00% 27/4/2020 314,262 0.04 EUR 100,000 Adif - Alta Velocidad RegS 3.50% EUR 350,000 Slovakia Government Bond RegS 27/5/2024 115,254 0.02 3.00% 28/2/2023 394,908 0.06 EUR 100,000 Adif - Alta Velocidad RegS 1.875% EUR 250,000 Slovakia Government Bond RegS 28/1/2025 107,035 0.02 3.375% 15/11/2024 298,698 0.04
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [83] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Spain continued Spain continued EUR 100,000 Amadeus Capital Markets SAU EUR 100,000 Bankia SA RegS 1.125% 5/8/2022 103,862 0.01 RegS 0.125% 6/10/2020 100,196 0.01 EUR 200,000 Bankia SA RegS 1.00% 14/3/2023 207,216 0.03 EUR 100,000 Amadeus IT Group SA RegS EUR 200,000 Bankia SA RegS 1.00% 25/9/2025 206,252 0.03 0.875% 18/9/2023 102,283 0.01 EUR 100,000 Bankinter SA RegS 0.875% 5/3/2024 101,502 0.01 EUR 100,000 Amadeus IT Group SA RegS EUR 100,000 Bankinter SA RegS 1.00% 5/2/2025 104,328 0.01 1.50% 18/9/2026 104,527 0.01 EUR 100,000 CaixaBank SA 3.875% 17/2/2025 121,335 0.02 EUR 100,000 Autonomous Community of EUR 200,000 CaixaBank SA RegS 1.00% Andalusia Spain 4.85% 17/3/2020 104,754 0.01 8/2/2023 207,492 0.03 EUR 100,000 Autonomous Community of Madrid EUR 200,000 CaixaBank SA RegS 1.75% Spain RegS 2.875% 6/4/2019 100,030 0.01 24/10/2023 203,427 0.03 EUR 100,000 Autonomous Community of Madrid EUR 200,000 CaixaBank SA RegS 2.375% Spain RegS 4.125% 21/5/2024 119,017 0.02 1/2/2024 208,672 0.03 EUR 50,000 Autonomous Community of Madrid EUR 200,000 CaixaBank SA RegS 1.125% Spain RegS 1.826% 30/4/2025 53,772 0.01 17/5/2024 203,374 0.03 EUR 200,000 Autonomous Community of Madrid EUR 400,000 CaixaBank SA RegS 0.625% Spain RegS 2.146% 30/4/2027 218,662 0.03 27/3/2025 406,312 0.06 EUR 160,000 Autonomous Community of Madrid EUR 100,000 CaixaBank SA RegS 1.25% Spain RegS 1.773% 30/4/2028 169,534 0.02 11/1/2027 105,599 0.02 EUR 150,000 Autonomous Community of Madrid EUR 100,000 CaixaBank SA RegS FRN 17/4/2030 96,232 0.01 Spain RegS 1.571% 30/4/2029 154,623 0.02 EUR 100,000 Caja Rural de Navarra SCC RegS EUR 100,000 Autonomous Community of Madrid 0.50% 16/3/2022 101,450 0.01 Spain RegS 2.08% 12/3/2030 106,963 0.02 EUR 200,000 Caja Rural de Navarra SCC RegS EUR 300,000 Ayt Cedulas Cajas Global 4.00% 0.875% 8/5/2025 205,626 0.03 24/3/2021 324,036 0.05 EUR 100,000 Cajamar Caja Rural SCC RegS EUR 200,000 Ayt Cedulas Cajas Global 4.25% 1.25% 26/1/2022 103,477 0.01 25/10/2023 236,990 0.03 EUR 200,000 Cajamar Caja Rural SCC RegS EUR 200,000 AyT Cedulas Cajas X Fondo de 0.875% 18/6/2023 204,948 0.03 Titulizacion de Activos 3.75% EUR 100,000 Canal de Isabel II Gestion SA 30/6/2025 242,476 0.03 RegS 1.68% 26/2/2025 102,036 0.01 EUR 200,000 Banco Bilbao Vizcaya Argentaria EUR 100,000 Cedulas TDA 6 Fondo de Titulizacion SA 3.875% 30/1/2023 230,046 0.03 de Activos 3.875% 23/5/2025 122,443 0.02 EUR 200,000 Banco Bilbao Vizcaya Argentaria EUR 100,000 Cores RegS 1.50% 27/11/2022 105,229 0.02 SA 0.625% 18/3/2023 205,032 0.03 EUR 100,000 Criteria Caixa SAU RegS 1.625% EUR 100,000 Banco Bilbao Vizcaya Argentaria 21/4/2022 102,240 0.01 SA RegS 1.00% 20/1/2021 102,026 0.01 EUR 100,000 Deutsche Bank SA Espanola RegS EUR 100,000 Banco Bilbao Vizcaya Argentaria 0.625% 25/11/2020 101,373 0.01 SA RegS 0.75% 20/1/2022 102,639 0.01 EUR 200,000 Deutsche Bank SA Espanola RegS EUR 100,000 Banco Bilbao Vizcaya Argentaria 0.50% 11/3/2024 201,904 0.03 SA RegS 0.75% 11/9/2022 100,518 0.01 EUR 100,000 Enagas Financiaciones SAU RegS EUR 100,000 Banco Bilbao Vizcaya Argentaria 2.50% 11/4/2022 107,773 0.02 SA RegS 0.875% 22/11/2026 103,877 0.01 EUR 100,000 Enagas Financiaciones SAU RegS EUR 100,000 Banco Bilbao Vizcaya Argentaria 1.25% 6/2/2025 104,993 0.01 SA RegS 3.50% 10/2/2027 108,346 0.02 EUR 200,000 Eurocaja Rural SCC RegS 0.875% EUR 200,000 Banco de Sabadell SA RegS 27/5/2024 205,986 0.03 0.625% 3/11/2020 202,718 0.03 EUR 100,000 FCC Aqualia SA RegS 2.629% EUR 100,000 Banco de Sabadell SA RegS 8/6/2027 103,585 0.01 1.00% 26/4/2027 102,980 0.01 EUR 100,000 Ferrovial Emisiones SA RegS EUR 200,000 Banco Santander SA 3.875% 0.375% 14/9/2022 100,027 0.01 6/2/2026 249,715 0.04 EUR 200,000 Fondo De Titulizacion Del Deficit EUR 200,000 Banco Santander SA RegS Del Sistema Electrico FTA RegS 1.375% 3/3/2021 205,598 0.03 0.031% 17/6/2020 200,598 0.03 EUR 200,000 Banco Santander SA RegS EUR 100,000 Fondo De Titulizacion Del Deficit 0.875% 28/9/2021 205,306 0.03 Del Sistema Electrico FTA RegS EUR 200,000 Banco Santander SA RegS 5.90% 17/3/2021 111,831 0.02 0.75% 9/9/2022 205,972 0.03 EUR 200,000 Fondo De Titulizacion Del Deficit EUR 200,000 Banco Santander SA RegS Del Sistema Electrico FTA RegS 1.375% 14/12/2022 208,494 0.03 0.625% 17/3/2022 204,120 0.03 EUR 200,000 Banco Santander SA RegS EUR 50,000 Iberdrola Finanzas SA 4.125% 1.125% 27/11/2024 211,272 0.03 23/3/2020 52,090 0.01 EUR 100,000 Banco Santander SA RegS EUR 100,000 Iberdrola Finanzas SA RegS 2.50% 18/3/2025 103,968 0.01 1.00% 7/3/2024 103,673 0.01 EUR 100,000 Banco Santander SA RegS EUR 300,000 Iberdrola Finanzas SA RegS 1.00% 7/4/2025 104,491 0.01 1.25% 13/9/2027 311,982 0.04 EUR 100,000 Banco Santander SA RegS EUR 100,000 IE2 Holdco SAU RegS 2.875% 3.25% 4/4/2026 108,282 0.02 1/6/2026 107,382 0.02 EUR 100,000 Banco Santander SA RegS EUR 200,000 IM Cedulas 5 Fondo de Titulazion 3.125% 19/1/2027 107,135 0.02 de Activos 3.50% 15/6/2020 208,828 0.03 EUR 300,000 Bankia SA 4.50% 26/4/2022* 341,925 0.05
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[84] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Spain continued Spain continued EUR 100,000 Inmobiliaria Colonial Socimi SA EUR 1,000,000 Spain Government Bond RegS RegS 1.45% 28/10/2024 100,725 0.01 ‘144A’ 4.40% 31/10/2023 1,196,420 0.17 EUR 200,000 Instituto de Credito Oficial RegS EUR 900,000 Spain Government Bond RegS 4.375% 20/5/2019 201,236 0.03 ‘144A’ 4.80% 31/1/2024 1,101,042 0.16 EUR 250,000 Instituto de Credito Oficial RegS EUR 1,850,000 Spain Government Bond RegS 0.10% 30/7/2021 251,593 0.04 ‘144A’ 3.80% 30/4/2024 2,185,053 0.31 EUR 100,000 Junta de Castilla y Leon RegS EUR 1,500,000 Spain Government Bond RegS 4.00% 30/4/2024 118,059 0.02 ‘144A’ 2.75% 31/10/2024 1,702,732 0.24 EUR 100,000 Kutxabank SA RegS 1.75% EUR 1,250,000 Spain Government Bond RegS 27/5/2021 104,163 0.01 ‘144A’ 1.60% 30/4/2025 1,340,837 0.19 EUR 100,000 Mapfre SA RegS 1.625% 19/5/2026 103,709 0.01 EUR 1,450,000 Spain Government Bond RegS EUR 100,000 Mapfre SA RegS FRN 7/9/2048 103,739 0.01 ‘144A’ 4.65% 30/7/2025 1,830,378 0.26 EUR 100,000 Merlin Properties Socimi SA RegS EUR 1,650,000 Spain Government Bond RegS 1.75% 26/5/2025 101,241 0.01 ‘144A’ 2.15% 31/10/2025 1,825,593 0.26 EUR 125,000 Merlin Properties Socimi SA RegS EUR 900,000 Spain Government Bond RegS 1.875% 2/11/2026 126,448 0.02 ‘144A’ 1.95% 30/4/2026 983,471 0.14 EUR 50,000 Naturgy Capital Markets SA RegS EUR 1,400,000 Spain Government Bond RegS 5.125% 2/11/2021 56,550 0.01 ‘144A’ 5.90% 30/7/2026 1,926,085 0.27 EUR 100,000 NorteGas Energia Distribucion EUR 1,600,000 Spain Government Bond RegS SAU RegS 2.065% 28/9/2027 101,013 0.01 ‘144A’ 1.30% 31/10/2026 1,672,792 0.24 EUR 200,000 Programa Cedulas TDA Fondo de EUR 1,250,000 Spain Government Bond RegS Titulizacion de Activos 4.125% ‘144A’ 1.50% 30/4/2027 1,319,262 0.19 10/4/2021 217,350 0.03 EUR 1,400,000 Spain Government Bond RegS EUR 100,000 Programa Cedulas TDA Fondo de ‘144A’ 1.45% 31/10/2027 1,469,440 0.21 Titulizacion de Activos 4.25% EUR 1,700,000 Spain Government Bond RegS 28/3/2027 128,610 0.02 ‘144A’ 1.40% 30/4/2028 1,772,139 0.25 EUR 200,000 Programa Cedulas TDA Fondo de EUR 850,000 Spain Government Bond RegS Titulizacion de Activos 4.25% ‘144A’ 1.40% 30/7/2028 882,122 0.12 10/4/2031 277,560 0.04 EUR 1,700,000 Spain Government Bond RegS EUR 100,000 Prosegur Cash SA RegS 1.375% ‘144A’ 5.15% 31/10/2028 2,346,119 0.33 4/2/2026 97,316 0.01 EUR 1,150,000 Spain Government Bond RegS EUR 100,000 Red Electrica Financiaciones SAU ‘144A’ 1.45% 30/4/2029 1,189,600 0.17 RegS 4.875% 29/4/2020 105,411 0.02 EUR 1,500,000 Spain Government Bond RegS EUR 100,000 Red Electrica Financiaciones SAU ‘144A’ 1.95% 30/7/2030 1,615,140 0.23 RegS 1.00% 21/4/2026 102,353 0.01 EUR 1,400,000 Spain Government Bond RegS EUR 200,000 Santander Consumer Finance SA ‘144A’ 2.35% 30/7/2033 1,546,097 0.22 RegS 0.90% 18/2/2020 201,828 0.03 EUR 1,200,000 Spain Government Bond RegS EUR 200,000 Santander Consumer Finance SA ‘144A’ 4.20% 31/1/2037 1,658,856 0.23 RegS 1.00% 26/5/2021 204,030 0.03 EUR 1,150,000 Spain Government Bond RegS EUR 100,000 Santander Consumer Finance SA ‘144A’ 4.90% 30/7/2040 1,752,439 0.25 RegS 1.00% 27/2/2024 100,939 0.01 EUR 1,250,000 Spain Government Bond RegS EUR 900,000 Spain Government Bond 1.15% ‘144A’ 4.70% 30/7/2041 1,869,037 0.26 30/7/2020 918,288 0.13 EUR 850,000 Spain Government Bond RegS EUR 1,250,000 Spain Government Bond 0.05% ‘144A’ 5.15% 31/10/2044 1,365,848 0.19 31/1/2021 1,258,338 0.18 EUR 1,050,000 Spain Government Bond RegS EUR 1,300,000 Spain Government Bond 0.75% ‘144A’ 2.90% 31/10/2046 1,210,172 0.17 30/7/2021 1,331,330 0.19 EUR 600,000 Spain Government Bond RegS EUR 550,000 Spain Government Bond 0.05% ‘144A’ 2.70% 31/10/2048 660,201 0.09 31/10/2021 553,952 0.08 EUR 550,000 Spain Government Bond RegS EUR 1,500,000 Spain Government Bond 0.40% ‘144A’ 3.45% 30/7/2066 686,351 0.10 30/4/2022 1,527,435 0.22 EUR 200,000 Telefonica Emisiones SA RegS EUR 1,300,000 Spain Government Bond 0.45% 2.736% 29/5/2019 200,922 0.03 31/10/2022 1,326,331 0.19 EUR 50,000 Telefonica Emisiones SA RegS EUR 900,000 Spain Government Bond 0.35% 4.693% 11/11/2019 51,490 0.01 30/7/2023 911,624 0.13 EUR 300,000 Telefonica Emisiones SA RegS EUR 1,400,000 Spain Government Bond 6.00% 0.318% 17/10/2020 302,037 0.04 31/1/2029 2,056,943 0.29 EUR 100,000 Telefonica Emisiones SA RegS EUR 1,300,000 Spain Government Bond 5.75% 0.75% 13/4/2022 101,683 0.01 30/7/2032 1,993,660 0.28 EUR 100,000 Telefonica Emisiones SA RegS EUR 1,250,000 Spain Government Bond RegS 2.242% 27/5/2022 106,379 0.02 ‘144A’ 4.00% 30/4/2020 1,308,788 0.18 EUR 100,000 Telefonica Emisiones SA RegS EUR 950,000 Spain Government Bond RegS 1.069% 5/2/2024 102,274 0.01 ‘144A’ 4.85% 31/10/2020 1,028,950 0.14 EUR 100,000 Telefonica Emisiones SA RegS EUR 1,750,000 Spain Government Bond RegS 1.46% 13/4/2026 103,297 0.01 ‘144A’ 5.50% 30/4/2021 1,961,225 0.28 EUR 200,000 Telefonica Emisiones SA RegS EUR 1,350,000 Spain Government Bond RegS 1.447% 22/1/2027 204,910 0.03 ‘144A’ 5.85% 31/1/2022 1,582,389 0.22 EUR 100,000 Telefonica Emisiones SA RegS EUR 1,900,000 Spain Government Bond RegS 2.318% 17/10/2028 107,948 0.02 ‘144A’ 5.40% 31/1/2023 2,298,591 0.32
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [85] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Spain continued Supranational continued EUR 200,000 Telefonica Emisiones SA RegS EUR 150,000 European Investment Bank 1.50% 1.788% 12/3/2029 204,762 0.03 16/10/2048 162,351 0.02 EUR 100,000 Telefonica Emisiones SA RegS EUR 250,000 European Investment Bank RegS 2.932% 17/10/2029 114,025 0.02 0.25% 15/10/2020 252,853 0.04 73,498,981 10.34 EUR 300,000 European Investment Bank RegS 3.625% 15/1/2021 322,104 0.05 EUR 500,000 European Investment Bank RegS Supranational 0.375% 15/3/2022 510,750 0.07 EUR 100,000 African Development Bank 0.25% EUR 100,000 European Investment Bank RegS 24/1/2024 101,635 0.01 3.00% 28/9/2022 111,710 0.02 EUR 200,000 African Development Bank 0.875% EUR 600,000 European Investment Bank RegS 24/5/2028 209,075 0.03 0.05% 24/5/2024 606,099 0.09 EUR 250,000 Asian Development Bank 0.35% EUR 300,000 European Investment Bank RegS 16/7/2025 254,865 0.04 0.20% 15/7/2024 305,439 0.04 EUR 200,000 Corp Andina de Fomento RegS EUR 400,000 European Investment Bank RegS 0.50% 25/1/2022 201,498 0.03 0.25% 14/10/2024 408,804 0.06 EUR 150,000 Council Of Europe Development EUR 400,000 European Investment Bank RegS Bank 0.625% 30/1/2029 153,200 0.02 0.375% 14/4/2026 409,324 0.06 EUR 300,000 Council Of Europe Development EUR 300,000 European Investment Bank RegS Bank RegS 0.125% 25/5/2023 304,161 0.04 0.375% 15/5/2026 308,148 0.04 EUR 200,000 Council Of Europe Development EUR 100,000 European Investment Bank RegS Bank RegS 0.125% 10/4/2024 202,604 0.03 1.25% 13/11/2026 109,349 0.02 EUR 150,000 Council Of Europe Development EUR 350,000 European Investment Bank RegS Bank RegS 0.75% 9/6/2025 156,953 0.02 3.50% 15/4/2027 444,398 0.06 EUR 200,000 EUROFIMA RegS 0.25% 25/4/2023 202,816 0.03 EUR 500,000 European Investment Bank RegS EUR 200,000 EUROFIMA RegS 0.25% 9/2/2024 202,206 0.03 0.875% 14/1/2028 527,885 0.07 EUR 600,000 European Investment Bank 4.625% EUR 400,000 European Investment Bank RegS 15/4/2020 631,938 0.09 0.625% 22/1/2029 410,636 0.06 EUR 250,000 European Investment Bank 1.50% EUR 300,000 European Investment Bank RegS 15/7/2020 256,433 0.04 1.00% 14/4/2032 313,489 0.04 EUR 300,000 European Investment Bank 1.50% EUR 200,000 European Investment Bank RegS 15/4/2021 312,072 0.04 1.125% 13/4/2033 211,422 0.03 EUR 400,000 European Investment Bank 1.375% EUR 350,000 European Investment Bank RegS 15/9/2021 417,612 0.06 3.00% 14/10/2033 459,368 0.06 EUR 450,000 European Investment Bank 2.75% EUR 200,000 European Investment Bank RegS 15/9/2021 485,226 0.07 1.125% 15/9/2036 207,770 0.03 EUR 100,000 European Investment Bank 1.625% EUR 100,000 European Investment Bank RegS 15/3/2023 107,447 0.01 2.75% 15/3/2040 132,761 0.02 EUR 200,000 European Investment Bank 2.00% EUR 100,000 European Investment Bank RegS 14/4/2023 219,038 0.03 3.625% 14/3/2042 152,685 0.02 EUR 800,000 European Investment Bank EUR 100,000 European Investment Bank RegS 16/10/2023 (Zero Coupon) 808,064 0.11 1.75% 15/9/2045 114,405 0.02 EUR 250,000 European Investment Bank 0.05% EUR 200,000 European Stability Mechanism 15/12/2023 253,225 0.04 RegS 1.375% 4/3/2021 207,070 0.03 EUR 400,000 European Investment Bank 2.125% EUR 200,000 European Stability Mechanism 15/1/2024 444,844 0.06 RegS 17/1/2022 (Zero Coupon) 201,862 0.03 EUR 500,000 European Investment Bank EUR 200,000 European Stability Mechanism 15/3/2024 (Zero Coupon) 503,812 0.07 RegS 18/10/2022 (Zero Coupon) 201,954 0.03 EUR 700,000 European Investment Bank 0.125% EUR 500,000 European Stability Mechanism 15/4/2025 708,729 0.10 RegS 0.10% 31/7/2023 506,400 0.07 EUR 550,000 European Investment Bank 0.375% EUR 400,000 European Stability Mechanism 16/7/2025 564,223 0.08 RegS 2.125% 20/11/2023 443,914 0.06 EUR 200,000 European Investment Bank 4.50% EUR 400,000 European Stability Mechanism 15/10/2025 259,780 0.04 RegS 0.125% 22/4/2024 405,050 0.06 EUR 200,000 European Investment Bank 0.50% EUR 100,000 European Stability Mechanism 15/1/2027 205,530 0.03 RegS 1.00% 23/9/2025 106,408 0.01 EUR 200,000 European Investment Bank 0.25% EUR 250,000 European Stability Mechanism 14/9/2029 196,734 0.03 RegS 0.50% 2/3/2026 257,796 0.04 EUR 100,000 European Investment Bank 4.00% EUR 200,000 European Stability Mechanism 15/4/2030 137,670 0.02 RegS 0.75% 15/3/2027 209,406 0.03 EUR 200,000 European Investment Bank 1.125% EUR 500,000 European Stability Mechanism 15/11/2032 211,636 0.03 RegS 0.75% 5/9/2028 520,910 0.07 EUR 400,000 European Investment Bank 4.00% EUR 300,000 European Stability Mechanism 15/10/2037 608,510 0.09 RegS 0.50% 5/3/2029 304,224 0.04 EUR 200,000 European Investment Bank 0.50% EUR 150,000 European Stability Mechanism 13/11/2037 186,680 0.03 RegS 1.125% 3/5/2032 159,267 0.02 EUR 150,000 European Investment Bank 0.875% EUR 200,000 European Stability Mechanism 13/9/2047* 140,663 0.02 RegS 1.20% 23/5/2033 213,507 0.03
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[86] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Supranational continued Sweden continued EUR 250,000 European Stability Mechanism EUR 250,000 Rikshem AB RegS 1.25% 28/6/2024 253,580 0.04 RegS 1.625% 17/11/2036 279,302 0.04 EUR 150,000 Securitas AB RegS 1.125% EUR 300,000 European Stability Mechanism 20/2/2024 152,028 0.02 RegS 0.875% 18/7/2042 288,741 0.04 EUR 150,000 Skandinaviska Enskilda Banken AB EUR 200,000 European Stability Mechanism RegS 1.875% 14/11/2019 151,957 0.02 RegS 1.75% 20/10/2045 228,660 0.03 EUR 150,000 Skandinaviska Enskilda Banken AB EUR 200,000 European Stability Mechanism RegS 1.50% 25/2/2020 152,550 0.02 RegS 1.80% 2/11/2046 229,930 0.03 EUR 100,000 Skandinaviska Enskilda Banken AB EUR 50,000 European Stability Mechanism RegS 0.15% 11/2/2021 100,813 0.01 RegS 1.85% 1/12/2055 57,422 0.01 EUR 150,000 Skandinaviska Enskilda Banken AB EUR 250,000 European Union 3.50% 4/6/2021 271,437 0.04 RegS 0.625% 30/1/2023 154,050 0.02 EUR 100,000 European Union 2.875% 4/4/2028 123,156 0.02 EUR 100,000 Skandinaviska Enskilda Banken AB EUR 250,000 European Union RegS 2.75% RegS 0.375% 9/2/2026 100,970 0.01 4/4/2022 273,437 0.04 EUR 100,000 Skandinaviska Enskilda Banken AB EUR 300,000 European Union RegS 0.625% RegS FRN 28/5/2026 103,272 0.02 4/11/2023 310,980 0.04 EUR 200,000 Stadshypotek AB RegS 1.625% EUR 100,000 European Union RegS 1.875% 30/10/2020 206,136 0.03 4/4/2024 110,193 0.02 EUR 100,000 Stadshypotek AB RegS 0.05% EUR 500,000 European Union RegS 0.50% 20/6/2022 100,634 0.01 4/4/2025 515,917 0.07 EUR 150,000 Stadshypotek AB RegS 0.375% EUR 200,000 European Union RegS 3.00% 21/2/2024 152,460 0.02 4/9/2026 242,820 0.03 EUR 150,000 Stadshypotek AB RegS 0.375% EUR 350,000 European Union RegS 2.50% 13/3/2026 151,294 0.02 4/11/2027 417,266 0.06 EUR 100,000 Stockholms Lans Landsting RegS EUR 200,000 European Union RegS 1.375% 0.75% 26/2/2025 103,904 0.02 4/10/2029 219,936 0.03 EUR 100,000 Svenska Handelsbanken AB RegS EUR 200,000 European Union RegS 0.75% 2.25% 27/8/2020 103,453 0.02 4/4/2031 204,778 0.03 EUR 300,000 Svenska Handelsbanken AB RegS EUR 100,000 European Union RegS 3.375% 0.25% 28/2/2022 302,478 0.04 4/4/2032 134,074 0.02 EUR 100,000 Svenska Handelsbanken AB RegS EUR 100,000 European Union RegS 1.25% 2.625% 23/8/2022 108,707 0.02 4/4/2033 107,266 0.02 EUR 125,000 Svenska Handelsbanken AB RegS EUR 150,000 European Union RegS 1.50% FRN 2/3/2028 124,732 0.02 4/10/2035 165,875 0.02 EUR 100,000 Sveriges Sakerstallda Obligationer EUR 100,000 European Union RegS 3.375% AB RegS 0.75% 17/6/2022 102,840 0.01 4/4/2038 142,668 0.02 EUR 300,000 Sveriges Sakerstallda Obligationer EUR 200,000 European Union RegS 3.75% AB RegS 0.50% 29/1/2025 306,333 0.04 4/4/2042 309,640 0.04 EUR 100,000 Sveriges Sakerstallda Obligationer EUR 100,000 International Bank for AB RegS 0.875% 29/3/2027 103,989 0.02 Reconstruction & Development EUR 100,000 Swedbank AB RegS 1.00% 1/6/2022 101,778 0.01 3.875% 20/5/2019 100,586 0.01 EUR 100,000 Swedbank AB RegS FRN 22/11/2027 96,808 0.01 EUR 100,000 International Bank for EUR 125,000 Swedbank AB RegS FRN 18/9/2028 122,221 0.02 Reconstruction & Development EUR 100,000 Swedbank Hypotek AB RegS RegS 0.625% 12/1/2033 99,403 0.01 0.375% 29/9/2020 101,035 0.01 EUR 150,000 Nordic Investment Bank RegS EUR 100,000 Swedbank Hypotek AB RegS 0.375% 19/9/2022 153,824 0.02 1.125% 21/5/2021 103,002 0.02 24,855,708 3.50 EUR 150,000 Swedbank Hypotek AB RegS 0.45% 23/8/2023 153,034 0.02 EUR 100,000 Swedbank Hypotek AB RegS Sweden 0.40% 8/5/2024 101,781 0.01 EUR 100,000 Akelius Residential Property AB EUR 100,000 Swedbank Hypotek AB RegS RegS 1.50% 23/1/2022 102,366 0.01 0.50% 5/2/2026 101,719 0.01 EUR 100,000 Castellum AB RegS 2.125% EUR 100,000 Sweden Government International 20/11/2023 103,278 0.02 Bond RegS 0.75% 2/5/2019 100,110 0.01 EUR 200,000 Essity AB RegS 0.625% 28/3/2022 203,176 0.03 EUR 150,000 Sweden Government International EUR 100,000 Fastighets AB Balder RegS 1.125% Bond RegS 0.05% 12/2/2020 150,750 0.02 14/3/2022 100,993 0.01 EUR 200,000 Sweden Government International EUR 100,000 Heimstaden Bostad AB RegS Bond RegS 0.125% 24/4/2023 203,176 0.03 2.125% 5/9/2023 101,717 0.01 EUR 125,000 Tele2 AB RegS 2.125% 15/5/2028 130,119 0.02 EUR 100,000 Investor AB RegS 4.50% 12/5/2023 117,512 0.02 EUR 50,000 Telia Co AB 4.75% 16/11/2021 55,990 0.01 EUR 100,000 Investor AB RegS 1.50% 12/9/2030 105,135 0.02 EUR 150,000 Telia Co AB RegS 4.25% 18/2/2020 155,808 0.02 EUR 200,000 Lansforsakringar Bank AB RegS EUR 100,000 Telia Co AB RegS 3.00% 7/9/2027 113,681 0.02 0.875% 25/9/2023 204,178 0.03 EUR 150,000 Telia Co AB RegS 2.125% 20/2/2034 154,776 0.02 EUR 100,000 Lansforsakringar Hypotek AB RegS EUR 150,000 Vattenfall AB RegS 5.375% 0.25% 22/4/2022 101,182 0.01 29/4/2024 186,346 0.03 EUR 100,000 Molnlycke Holding AB RegS 1.50% 28/2/2022 103,133 0.02 6,410,984 0.90
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [87] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Switzerland United Kingdom continued EUR 150,000 Credit Suisse AG/Guernsey RegS EUR 100,000 BP Capital Markets Plc RegS 1.75% 15/1/2021 155,241 0.02 1.573% 16/2/2027 106,168 0.02 EUR 150,000 Credit Suisse AG/London RegS EUR 100,000 Brambles Finance Plc RegS 4.75% 5/8/2019 152,564 0.02 1.50% 4/10/2027 101,865 0.01 EUR 100,000 Credit Suisse AG/London RegS EUR 250,000 British Telecommunications Plc 1.125% 15/9/2020 101,815 0.02 RegS 1.125% 10/3/2023 255,637 0.04 EUR 100,000 Credit Suisse AG/London RegS EUR 100,000 British Telecommunications Plc 1.375% 31/1/2022 103,969 0.02 RegS 0.875% 26/9/2023 100,655 0.01 EUR 150,000 Credit Suisse AG/London RegS EUR 150,000 British Telecommunications Plc 1.00% 7/6/2023 154,933 0.02 RegS 1.50% 23/6/2027 150,356 0.02 EUR 150,000 Credit Suisse AG/London RegS EUR 100,000 British Telecommunications Plc 1.50% 10/4/2026 159,868 0.02 RegS 2.125% 26/9/2028 103,687 0.02 EUR 150,000 Credit Suisse Group AG RegS EUR 200,000 Cadent Finance Plc RegS 0.625% FRN 17/7/2025 151,965 0.02 22/9/2024* 199,682 0.03 EUR 300,000 UBS AG/London RegS 1.375% EUR 100,000 Coca-Cola European Partners Plc 16/4/2021 309,724 0.04 RegS 0.75% 24/2/2022 101,927 0.01 EUR 100,000 UBS AG/London RegS EUR 200,000 Coca-Cola European Partners Plc 1.25% 3/9/2021 103,019 0.02 RegS 1.125% 26/5/2024 207,664 0.03 EUR 500,000 UBS AG/London RegS EUR 100,000 Coventry Building Society RegS 0.625% 23/1/2023 507,120 0.07 0.625% 3/11/2021 101,922 0.01 EUR 200,000 UBS Group Funding Switzerland EUR 125,000 Diageo Finance Plc RegS 0.50% AG RegS 2.125% 4/3/2024 213,674 0.03 19/6/2024 126,375 0.02 2,113,892 0.30 EUR 100,000 Diageo Finance Plc RegS 1.75% 23/9/2024 107,278 0.02 United Arab Emirates EUR 100,000 DS Smith Plc RegS 2.25% EUR 150,000 Emirates Telecommunications Group 16/9/2022 105,221 0.02 Co PJSC RegS 1.75% 18/6/2021 155,119 0.02 EUR 175,000 DS Smith Plc RegS 1.375% 155,119 0.02 26/7/2024 176,844 0.03 EUR 100,000 FCE Bank Plc RegS 1.875% 24/6/2021 101,002 0.01 United Kingdom EUR 100,000 FCE Bank Plc RegS 1.134% EUR 100,000 Anglo American Capital Plc RegS 10/2/2022 98,709 0.01 3.50% 28/3/2022 108,669 0.02 EUR 100,000 G4S International Finance Plc EUR 150,000 Anglo American Capital Plc RegS RegS 1.50% 2/6/2024 99,369 0.01 1.625% 11/3/2026 151,150 0.02 EUR 100,000 G4S International Finance Plc EUR 100,000 Annington Funding Plc RegS 1.65% 12/7/2024 100,572 0.01 RegS 1.875% 24/5/2025 100,390 0.01 EUR 200,000 AstraZeneca Plc RegS 0.75% EUR 300,000 GlaxoSmithKline Capital Plc RegS 12/5/2024 203,214 0.03 12/9/2020 (Zero Coupon) 300,325 0.04 EUR 100,000 Aviva Plc RegS 1.875% 13/11/2027 104,456 0.02 EUR 150,000 GlaxoSmithKline Capital Plc RegS EUR 100,000 Aviva Plc RegS FRN 4/12/2045 103,388 0.02 1.375% 2/12/2024 158,019 0.02 EUR 100,000 Babcock International Group Plc EUR 50,000 HSBC Bank Plc RegS 4.00% RegS 1.75% 6/10/2022 101,883 0.01 15/1/2021 53,641 0.01 EUR 100,000 Barclays Bank Plc RegS 6.625% EUR 200,000 HSBC Holdings Plc 3.125% 7/6/2028 228,176 0.03 30/3/2022 115,510 0.02 EUR 200,000 HSBC Holdings Plc RegS 6.00% EUR 50,000 Barclays Bank UK Plc RegS 10/6/2019 202,380 0.03 4.00% 7/10/2019 51,115 0.01 EUR 200,000 HSBC Holdings Plc RegS 0.875% EUR 100,000 Barclays Bank UK Plc RegS 6/9/2024 201,265 0.03 4.00% 12/1/2021 107,562 0.02 EUR 150,000 Imperial Brands Finance Plc RegS EUR 150,000 Barclays Plc RegS 1.875% 23/3/2021 153,967 0.02 2.25% 26/2/2021 155,497 0.02 EUR 200,000 Barclays Plc RegS 1.50% 1/4/2022 205,070 0.03 EUR 150,000 Imperial Brands Finance Plc RegS EUR 150,000 Barclays Plc RegS 1.50% 3/9/2023 151,606 0.02 1.375% 27/1/2025 150,086 0.02 EUR 100,000 Barclays Plc RegS FRN 24/1/2026 97,287 0.01 EUR 100,000 Imperial Brands Finance Plc RegS EUR 150,000 BAT International Finance Plc 2.125% 12/2/2027 100,351 0.01 RegS 4.875% 24/2/2021 163,345 0.02 EUR 100,000 ITV Plc RegS 2.00% 1/12/2023 102,560 0.01 EUR 100,000 BAT International Finance Plc EUR 100,000 Leeds Building Society RegS RegS 1.00% 23/5/2022 101,224 0.01 1.375% 5/5/2022 101,050 0.01 EUR 150,000 BAT International Finance Plc EUR 100,000 Lloyds Bank Plc RegS 5.375% RegS 1.25% 13/3/2027 143,148 0.02 3/9/2019 102,313 0.01 EUR 100,000 BG Energy Capital Plc RegS EUR 200,000 Lloyds Bank Plc RegS 6.50% 1.25% 21/11/2022 104,382 0.02 24/3/2020 211,887 0.03 EUR 100,000 BP Capital Markets Plc RegS EUR 200,000 Lloyds Bank Plc RegS 4.00% 1.117% 25/1/2024 104,057 0.02 29/9/2020 212,664 0.03 EUR 100,000 BP Capital Markets Plc RegS EUR 200,000 Lloyds Bank Plc RegS 0.375% 0.83% 19/9/2024 102,480 0.01 18/1/2021 202,104 0.03 EUR 300,000 BP Capital Markets Plc RegS EUR 200,000 Lloyds Bank Plc RegS 0.625% 1.953% 3/3/2025 326,520 0.05 14/9/2022 204,524 0.03 EUR 150,000 BP Capital Markets Plc RegS EUR 300,000 Lloyds Bank Plc RegS 0.50% 2.972% 27/2/2026 173,568 0.02 11/4/2023 305,520 0.04
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[88] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
United Kingdom continued United Kingdom continued EUR 100,000 Lloyds Bank Plc RegS 0.25% EUR 200,000 Vodafone Group Plc RegS 1.125% 25/3/2024 100,407 0.01 20/11/2025 202,076 0.03 EUR 211,000 Lloyds Banking Group Plc RegS EUR 200,000 Vodafone Group Plc RegS 1.50% 1.00% 9/11/2023 211,372 0.03 24/7/2027 204,386 0.03 EUR 125,000 London Stock Exchange Group Plc EUR 100,000 Vodafone Group Plc RegS 1.60% RegS 1.75% 19/9/2029 129,296 0.02 29/7/2031 97,654 0.01 EUR 100,000 Motability Operations Group Plc EUR 200,000 Vodafone Group Plc RegS FRN RegS 0.875% 14/3/2025 101,439 0.01 3/1/2079 197,596 0.03 EUR 100,000 National Grid Plc 4.375% 10/3/2020 104,190 0.02 EUR 100,000 Wellcome Trust Ltd/The RegS EUR 100,000 National Westminster Bank Plc 1.125% 21/1/2027 104,625 0.02 RegS 3.875% 19/10/2020 106,352 0.02 EUR 100,000 Yorkshire Building Society RegS EUR 100,000 National Westminster Bank Plc 1.25% 11/6/2021 103,062 0.02 RegS 0.50% 15/5/2024 101,636 0.01 EUR 200,000 Yorkshire Building Society RegS EUR 50,000 Nationwide Building Society RegS 0.375% 11/4/2023 202,514 0.03 6.75% 22/7/2020 54,232 0.01 14,837,604 2.09 EUR 200,000 Nationwide Building Society RegS 0.125% 25/1/2021 201,306 0.03 United States EUR 100,000 Nationwide Building Society RegS EUR 100,000 3M Co 1.50% 2/6/2031 106,321 0.02 0.75% 29/10/2021 102,347 0.01 EUR 100,000 3M Co RegS 1.875% 15/11/2021 105,139 0.02 EUR 150,000 Nationwide Building Society RegS EUR 100,000 AbbVie Inc 1.375% 17/5/2024 103,217 0.01 4.375% 28/2/2022 169,653 0.02 EUR 100,000 AbbVie Inc 2.125% 17/11/2028 106,432 0.02 EUR 100,000 Nationwide Building Society RegS EUR 175,000 ALTRIA GROUP Inc 1.70% 1.125% 3/6/2022 102,432 0.01 15/6/2025 177,396 0.03 EUR 100,000 Nationwide Building Society RegS EUR 150,000 ALTRIA GROUP Inc 2.20% 0.75% 26/10/2022 102,810 0.02 15/6/2027 152,091 0.02 EUR 125,000 Nationwide Building Society RegS EUR 100,000 American Express Credit Corp 0.50% 23/2/2024 127,361 0.02 0.625% 22/11/2021 101,688 0.01 EUR 100,000 Nationwide Building Society RegS EUR 100,000 American Honda Finance Corp 1.25% 3/3/2025 103,013 0.02 RegS 1.875% 4/9/2019 100,891 0.01 EUR 100,000 Nationwide Building Society RegS EUR 150,000 American International Group Inc FRN 8/3/2026 100,015 0.01 1.875% 21/6/2027 152,914 0.02 EUR 150,000 Natwest Markets Plc RegS 5.375% EUR 100,000 Amgen Inc 1.25% 25/2/2022 103,308 0.01 30/9/2019 154,098 0.02 EUR 100,000 Amgen Inc 2.00% 25/2/2026 108,064 0.02 EUR 200,000 Natwest Markets Plc RegS 0.625% EUR 250,000 Apple Inc 0.875% 24/5/2025 259,661 0.04 2/3/2022 198,730 0.03 EUR 100,000 Apple Inc 1.625% 10/11/2026 108,521 0.02 EUR 100,000 Pearson Funding Five Plc RegS EUR 100,000 Apple Inc 1.375% 24/5/2029 106,158 0.02 1.375% 6/5/2025 101,263 0.01 EUR 150,000 Archer-Daniels-Midland Co EUR 100,000 Rentokil Initial Plc RegS 0.95% 1.00% 12/9/2025 153,645 0.02 22/11/2024 100,729 0.01 EUR 200,000 AT&T Inc 1.45% 1/6/2022 207,136 0.03 EUR 300,000 Rolls-Royce Plc RegS 0.875% EUR 100,000 AT&T Inc 2.50% 15/3/2023 107,582 0.02 9/5/2024 303,357 0.04 EUR 250,000 AT&T Inc 1.05% 5/9/2023 255,072 0.04 EUR 100,000 Royal Bank of Scotland Group Plc EUR 150,000 AT&T Inc 3.50% 17/12/2025 174,131 0.02 RegS 2.50% 22/3/2023 104,648 0.02 EUR 175,000 AT&T Inc 1.80% 5/9/2026 182,646 0.03 EUR 300,000 Santander UK Group Holdings Plc EUR 100,000 AT&T Inc 2.35% 5/9/2029 105,381 0.02 RegS 1.125% 8/9/2023 299,310 0.04 EUR 100,000 AT&T Inc 2.45% 15/3/2035 97,555 0.01 EUR 100,000 Santander UK Plc RegS 1.625% EUR 100,000 AT&T Inc 3.15% 4/9/2036 106,495 0.02 26/11/2020 103,059 0.02 EUR 100,000 Bank of America Corp RegS EUR 200,000 Santander UK Plc RegS 0.25% 2.50% 27/7/2020 103,441 0.01 9/8/2021 201,977 0.03 EUR 125,000 Bank of America Corp RegS EUR 300,000 Santander UK Plc RegS 0.50% FRN 7/2/2022 126,513 0.02 10/1/2025 304,369 0.04 EUR 100,000 Bank of America Corp RegS EUR 100,000 Sky Ltd RegS 2.50% 15/9/2026 111,789 0.02 2.375% 19/6/2024 109,293 0.02 EUR 200,000 SSE Plc RegS 2.00% 17/6/2020 204,984 0.03 EUR 150,000 Bank of America Corp RegS EUR 200,000 Standard Chartered Plc RegS 1.375% 26/3/2025 156,388 0.02 1.625% 13/6/2021 206,522 0.03 EUR 100,000 Bank of America Corp RegS EUR 200,000 Standard Chartered Plc RegS FRN 4/5/2027 105,025 0.02 3.625% 23/11/2022 218,546 0.03 EUR 200,000 Bank of America Corp RegS EUR 100,000 State Grid Europe Development FRN 25/4/2028 208,484 0.03 2014 Plc RegS 1.50% 26/1/2022 103,094 0.02 EUR 100,000 BAT Capital Corp RegS 1.125% EUR 250,000 Trinity Acquisition Plc RegS 2.125% 16/11/2023 101,081 0.01 26/5/2022 259,855 0.04 EUR 100,000 Baxter International Inc 1.30% EUR 100,000 Vodafone Group Plc RegS 0.875% 30/5/2025 103,934 0.01 17/11/2020 101,520 0.01 EUR 150,000 Becton Dickinson and Co 1.00% EUR 150,000 Vodafone Group Plc RegS 0.375% 15/12/2022 152,950 0.02 22/11/2021 150,523 0.02 EUR 200,000 Berkshire Hathaway Inc 0.25% EUR 150,000 Vodafone Group Plc RegS 4.65% 17/1/2021 201,458 0.03 20/1/2022 168,574 0.02 EUR 100,000 Berkshire Hathaway Inc 0.75% EUR 100,000 Vodafone Group Plc RegS 0.50% 16/3/2023 102,410 0.01 30/1/2024 99,597 0.01
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [89] iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
United States continued United States continued EUR 100,000 Berkshire Hathaway Inc 1.125% EUR 100,000 Honeywell International Inc 2.25% 16/3/2027 103,078 0.01 22/2/2028 113,376 0.02 EUR 100,000 Berkshire Hathaway Inc 1.625% EUR 100,000 Illinois Tool Works Inc 1.75% 16/3/2035 105,074 0.02 20/5/2022 105,251 0.02 EUR 100,000 Booking Holdings Inc 1.80% EUR 100,000 International Business Machines 3/3/2027 105,480 0.02 Corp 1.875% 6/11/2020 103,301 0.01 EUR 100,000 Bristol-Myers Squibb Co 1.00% EUR 100,000 International Business Machines 15/5/2025 103,599 0.01 Corp 1.125% 6/9/2024 104,150 0.02 EUR 150,000 Celanese US Holdings LLC 1.25% EUR 100,000 International Business Machines 11/2/2025 147,830 0.02 Corp 2.875% 7/11/2025 114,385 0.02 EUR 125,000 Celanese US Holdings LLC 2.125% EUR 100,000 International Business Machines 1/3/2027 128,449 0.02 Corp 1.25% 29/1/2027 102,777 0.01 EUR 200,000 Chubb INA Holdings Inc 2.50% EUR 100,000 International Business Machines 15/3/2038 213,136 0.03 Corp 1.50% 23/5/2029 104,326 0.02 EUR 100,000 Citigroup Inc 1.75% 28/1/2025 105,825 0.02 EUR 100,000 International Flavors & Fragrances EUR 100,000 Citigroup Inc RegS 1.375% Inc 1.80% 25/9/2026 103,814 0.01 27/10/2021 103,501 0.01 EUR 100,000 Johnson & Johnson 0.25% EUR 200,000 Citigroup Inc RegS 0.75% 20/1/2022 101,291 0.01 26/10/2023 202,645 0.03 EUR 100,000 Johnson & Johnson 1.65% EUR 200,000 Citigroup Inc RegS FRN 24/7/2026 206,026 0.03 20/5/2035 108,424 0.02 EUR 100,000 Citigroup Inc RegS 1.50% EUR 200,000 JPMorgan Chase & Co RegS 26/10/2028 103,528 0.01 3.875% 23/9/2020 212,008 0.03 EUR 150,000 Coca-Cola Co/The 1.125% EUR 100,000 JPMorgan Chase & Co RegS 22/9/2022 156,097 0.02 1.375% 16/9/2021 103,474 0.01 EUR 100,000 Coca-Cola Co/The 0.50% 8/3/2024 101,405 0.01 EUR 100,000 JPMorgan Chase & Co RegS EUR 150,000 Coca-Cola Co/The 0.75% 22/9/2026 151,213 0.02 2.75% 24/8/2022 108,907 0.02 EUR 100,000 Coca-Cola Co/The 1.875% EUR 150,000 JPMorgan Chase & Co RegS 22/9/2026 109,419 0.02 2.75% 1/2/2023 164,776 0.02 EUR 100,000 Coca-Cola Co/The 1.625% 9/3/2035 105,094 0.02 EUR 200,000 JPMorgan Chase & Co RegS EUR 100,000 Colgate-Palmolive Co 0.50% 1.50% 29/10/2026 210,474 0.03 6/3/2026 100,749 0.01 EUR 150,000 JPMorgan Chase & Co RegS EUR 100,000 Digital Euro Finco LLC RegS FRN 11/3/2027 151,280 0.02 2.625% 15/4/2024 106,709 0.02 EUR 200,000 JPMorgan Chase & Co RegS EUR 100,000 Dover Corp 1.25% 9/11/2026 99,416 0.01 FRN 18/5/2028 208,827 0.03 EUR 125,000 DXC Technology Co 1.75% EUR 200,000 JPMorgan Chase & Co RegS 15/1/2026 124,758 0.02 FRN 12/6/2029 210,518 0.03 EUR 200,000 Eli Lilly & Co 1.00% 2/6/2022 206,458 0.03 EUR 200,000 Kellogg Co 1.75% 24/5/2021 207,369 0.03 EUR 100,000 Expedia Group Inc 2.50% 3/6/2022 104,926 0.02 EUR 150,000 Kinder Morgan Inc/DE 1.50% EUR 100,000 FedEx Corp 1.625% 11/1/2027 103,715 0.01 16/3/2022 155,913 0.02 EUR 250,000 Fidelity National Information EUR 100,000 Kraft Heinz Foods Co RegS Services Inc 0.40% 15/1/2021 251,120 0.04 2.25% 25/5/2028 102,478 0.01 EUR 100,000 Ford Motor Credit Co LLC 3.021% EUR 100,000 Marsh & McLennan Cos Inc 6/3/2024 101,151 0.01 1.349% 21/9/2026 101,210 0.01 EUR 100,000 General Electric Co 1.25% 26/5/2023 101,189 0.01 EUR 100,000 Marsh & McLennan Cos Inc EUR 100,000 General Electric Co 0.875% 1.979% 21/3/2030 102,390 0.01 17/5/2025 97,249 0.01 EUR 150,000 Mastercard Inc 1.10% 1/12/2022 155,163 0.02 EUR 350,000 General Electric Co 1.50% 17/5/2029 336,885 0.05 EUR 100,000 McDonald’s Corp RegS 4.00% EUR 50,000 General Electric Co RegS 4.125% 17/2/2021 107,594 0.02 19/9/2035 59,251 0.01 EUR 100,000 McDonald’s Corp RegS 0.90% EUR 100,000 General Motors Financial Co Inc 15/6/2026 100,601 0.01 RegS 0.955% 7/9/2023 98,761 0.01 EUR 100,000 McDonald’s Corp RegS 1.75% EUR 100,000 General Motors Financial Co Inc 3/5/2028 105,695 0.02 RegS 2.20% 1/4/2024 101,857 0.01 EUR 200,000 McDonald’s Corp RegS 1.50% EUR 50,000 Goldman Sachs Group Inc/The 28/11/2029 204,286 0.03 RegS 5.125% 23/10/2019 51,457 0.01 EUR 100,000 McDonald’s Corp RegS 1.60% EUR 200,000 Goldman Sachs Group Inc/The 15/3/2031 101,520 0.01 RegS 2.50% 18/10/2021 212,048 0.03 EUR 100,000 McKesson Corp 1.625% 30/10/2026 104,225 0.02 EUR 50,000 Goldman Sachs Group Inc/The EUR 200,000 Merck & Co Inc 1.125% 15/10/2021 205,984 0.03 RegS 2.00% 27/7/2023 52,750 0.01 EUR 100,000 Merck & Co Inc 1.875% 15/10/2026 110,250 0.02 EUR 200,000 Goldman Sachs Group Inc/The EUR 150,000 Metropolitan Life Global Funding I RegS 1.375% 15/5/2024 204,306 0.03 RegS 1.25% 17/9/2021 154,714 0.02 EUR 275,000 Goldman Sachs Group Inc/The EUR 200,000 Microsoft Corp 2.125% 6/12/2021 211,467 0.03 RegS 1.25% 1/5/2025 278,938 0.04 EUR 100,000 Microsoft Corp 3.125% 6/12/2028 123,003 0.02 EUR 150,000 Goldman Sachs Group Inc/The EUR 100,000 Molson Coors Brewing Co 1.25% RegS 2.875% 3/6/2026* 166,588 0.02 15/7/2024 100,390 0.01 EUR 75,000 Goldman Sachs Group Inc/The EUR 100,000 Mondelez International Inc 1.625% RegS 1.625% 27/7/2026 77,004 0.01 8/3/2027 103,767 0.01 EUR 100,000 Honeywell International Inc 0.65% EUR 200,000 Morgan Stanley 5.375% 10/8/2020 214,850 0.03 21/2/2020 100,699 0.01 EUR 100,000 Morgan Stanley 2.375% 31/3/2021 104,788 0.02
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[90] BlackRock Global Index Funds (BGIF) iShares Euro Aggregate Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
United States continued United States continued EUR 200,000 Morgan Stanley 1.75% 11/3/2024 210,361 0.03 EUR 150,000 US Bancorp 0.85% 7/6/2024 152,880 0.02 EUR 200,000 Morgan Stanley 1.375% 27/10/2026 204,188 0.03 EUR 100,000 Verizon Communications Inc EUR 100,000 Morgan Stanley 1.875% 27/4/2027 105,772 0.02 0.875% 2/4/2025 101,968 0.01 EUR 100,000 Nasdaq Inc 3.875% 7/6/2021 107,842 0.02 EUR 150,000 Verizon Communications Inc EUR 100,000 National Grid North America Inc 1.375% 2/11/2028 153,793 0.02 RegS 1.00% 12/7/2024 102,195 0.01 EUR 100,000 Verizon Communications Inc EUR 100,000 Oracle Corp 3.125% 10/7/2025 116,545 0.02 1.875% 26/10/2029 106,316 0.02 EUR 100,000 PepsiCo Inc 1.75% 28/4/2021 103,637 0.01 EUR 100,000 Verizon Communications Inc EUR 100,000 PEPSICO Inc 0.75% 18/3/2027 100,873 0.01 2.625% 1/12/2031 113,374 0.02 EUR 175,000 PerkinElmer Inc 0.60% 9/4/2021 175,794 0.03 EUR 100,000 Verizon Communications Inc EUR 100,000 Pfizer Inc 0.25% 6/3/2022 101,042 0.01 2.875% 15/1/2038 109,660 0.02 EUR 100,000 Pfizer Inc 1.00% 6/3/2027 103,864 0.01 EUR 100,000 VF Corp 0.625% 20/9/2023 101,998 0.01 EUR 200,000 Philip Morris International Inc EUR 50,000 Walmart Inc 4.875% 21/9/2029 70,667 0.01 2.75% 19/3/2025 221,846 0.03 EUR 350,000 Wells Fargo & Co RegS 1.125% EUR 150,000 Philip Morris International Inc 29/10/2021 359,938 0.05 2.875% 3/3/2026 168,424 0.02 EUR 150,000 Wells Fargo & Co RegS 2.25% EUR 100,000 Philip Morris International Inc 2/5/2023 161,475 0.02 1.875% 6/11/2037 99,466 0.01 EUR 150,000 Wells Fargo & Co RegS 2.00% EUR 200,000 PPG Industries Inc 0.875% 27/4/2026 161,389 0.02 3/11/2025 200,782 0.03 EUR 100,000 Wells Fargo & Co RegS 1.00% EUR 100,000 Praxair Inc 1.625% 1/12/2025 108,293 0.02 2/2/2027 99,461 0.01 EUR 200,000 Procter & Gamble Co/The 2.00% EUR 200,000 Wells Fargo & Co RegS 1.50% 5/11/2021 211,306 0.03 24/5/2027 206,662 0.03 EUR 250,000 Procter & Gamble Co/The 1.20% EUR 100,000 Whirlpool Corp 0.625% 12/3/2020 100,590 0.01 30/10/2028 261,439 0.04 21,810,367 3.07 EUR 150,000 Procter & Gamble Co/The 1.25% 25/10/2029 157,260 0.02 Total Bonds 702,411,857 98.79 EUR 50,000 Procter & Gamble Co/The RegS Total Transferable Securities and Money 4.125% 7/12/2020 53,662 0.01 Market Instruments Admitted to an EUR 100,000 Prologis LP 3.00% 2/6/2026 115,088 0.02 Official Stock Exchange Listing or EUR 200,000 Southern Power Co 1.00% Dealt in on Another Regulated Market 702,411,857 98.79 20/6/2022 205,358 0.03 EUR 100,000 Stryker Corp 1.125% 30/11/2023 103,793 0.01 EUR 100,000 Stryker Corp 2.125% 30/11/2027 109,013 0.02 Other Transferable Securities and Money Market Instruments EUR 100,000 Thermo Fisher Scientific Inc 0.75% 12/9/2024 100,998 0.01 BONDS EUR 100,000 Thermo Fisher Scientific Inc 2.00% 15/4/2025 107,800 0.02 Romania EUR 125,000 Thermo Fisher Scientific Inc EUR 200,000 Romania Government Bond 1.25% 1.375% 12/9/2028 127,594 0.02 26/2/2021 203,895 0.03 EUR 150,000 Toyota Motor Credit Corp RegS 203,895 0.03 2.375% 1/2/2023 163,546 0.02 EUR 200,000 Toyota Motor Credit Corp RegS Total Bonds 203,895 0.03 0.625% 21/11/2024 204,038 0.03 Total Other Transferable Securities EUR 100,000 United Parcel Service Inc 1.00% and Money Market Instruments 203,895 0.03 15/11/2028 102,098 0.01 Securities portfolio at market value 702,615,752 98.82 EUR 100,000 United Technologies Corp 1.125% 15/12/2021 102,822 0.01 Other Net Assets 8,360,731 1.18 EUR 100,000 United Technologies Corp 1.15% 18/5/2024 102,637 0.01 Total Net Assets (EUR) 710,976,483 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [91] iShares Euro Aggregate Bond Index Fund (LU) continued
Sector Breakdown as at 31 March 2019
% of Net Assets
Government 67.52 Financial 18.59 Consumer, Non-cyclical 3.22 Utilities 2.24 Communications 1.71 Industrial 1.63 Consumer, Cyclical 1.62 Energy 1.09 Basic Materials 0.69 Technology 0.46 Diversified 0.05 Securities portfolio at market value 98.82 Other Net Assets 1.18 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
[92] BlackRock Global Index Funds (BGIF) iShares Euro Government Bond Index Fund (LU)
iShares Euro Government Bond Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
BONDS Belgium EUR 1,195,000 Kingdom of Belgium Government Austria Bond 4.00% 28/3/2022 1,356,480 0.26 EUR 700,000 Republic of Austria Government EUR 1,373,000 Kingdom of Belgium Government Bond 6.25% 15/7/2027 1,062,600 0.21 Bond 5.50% 28/3/2028 2,012,598 0.39 EUR 1,290,000 Republic of Austria Government EUR 1,310,000 Kingdom of Belgium Government Bond RegS ‘144A’ 3.90% Bond RegS ‘144A’ 3.75% 15/7/2020 1,364,562 0.26 28/9/2020 1,394,338 0.27 EUR 1,335,000 Republic of Austria Government EUR 1,725,000 Kingdom of Belgium Government Bond RegS ‘144A’ 3.50% Bond RegS ‘144A’ 4.25% 15/9/2021 1,469,288 0.29 28/9/2021 1,931,275 0.38 EUR 600,000 Republic of Austria Government EUR 1,400,000 Kingdom of Belgium Government Bond RegS ‘144A’ 3.65% Bond RegS ‘144A’ 4.25% 20/4/2022 676,278 0.13 28/9/2022 1,631,378 0.32 EUR 500,000 Republic of Austria Government EUR 1,011,000 Kingdom of Belgium Government Bond RegS ‘144A’ 20/9/2022 Bond RegS 2.25% 22/6/2023 1,123,914 0.22 (Zero Coupon) 507,825 0.10 EUR 980,000 Kingdom of Belgium Government EUR 1,293,000 Republic of Austria Government Bond RegS ‘144A’ 0.20% Bond RegS ‘144A’ 3.40% 22/10/2023 1,002,207 0.19 22/11/2022 1,476,309 0.29 EUR 1,330,000 Kingdom of Belgium Government EUR 1,200,000 Republic of Austria Government Bond RegS ‘144A’ 2.60% Bond RegS ‘144A’ 1.75% 22/6/2024 1,526,414 0.30 20/10/2023 1,317,672 0.26 EUR 570,000 Kingdom of Belgium Government EUR 895,000 Republic of Austria Government Bond RegS ‘144A’ 0.50% Bond RegS ‘144A’ 1.65% 22/10/2024 591,084 0.11 21/10/2024 991,159 0.19 EUR 1,390,000 Kingdom of Belgium Government EUR 640,000 Republic of Austria Government Bond RegS ‘144A’ 0.80% Bond RegS ‘144A’ 1.20% 22/6/2025 1,465,533 0.28 20/10/2025 697,926 0.14 EUR 1,040,000 Kingdom of Belgium Government EUR 955,000 Republic of Austria Government Bond RegS ‘144A’ 4.50% Bond RegS ‘144A’ 4.85% 28/3/2026 1,367,527 0.27 15/3/2026 1,287,626 0.25 EUR 1,190,000 Kingdom of Belgium Government EUR 1,020,000 Republic of Austria Government Bond RegS ‘144A’ 1.00% Bond RegS ‘144A’ 0.75% 22/6/2026 1,271,098 0.25 20/10/2026 1,080,078 0.21 EUR 1,190,000 Kingdom of Belgium Government EUR 860,000 Republic of Austria Government Bond RegS ‘144A’ 0.80% Bond RegS ‘144A’ 0.50% 22/6/2027 1,250,309 0.24 20/4/2027 892,302 0.17 EUR 1,220,000 Kingdom of Belgium Government EUR 700,000 Republic of Austria Government Bond RegS ‘144A’ 0.80% Bond RegS ‘144A’ 0.75% 22/6/2028 1,275,486 0.25 20/2/2028 738,420 0.14 EUR 650,000 Kingdom of Belgium Government EUR 460,000 Republic of Austria Government Bond RegS ‘144A’ 0.90% Bond RegS ‘144A’ 0.50% 22/6/2029 681,141 0.13 20/2/2029 471,679 0.09 EUR 1,055,000 Kingdom of Belgium Government EUR 585,000 Republic of Austria Government Bond RegS ‘144A’ 1.00% Bond RegS ‘144A’ 2.40% 22/6/2031 1,104,237 0.21 23/5/2034 735,538 0.14 EUR 617,000 Kingdom of Belgium Government EUR 1,178,000 Republic of Austria Government Bond RegS 4.00% 28/3/2032 876,023 0.17 Bond RegS ‘144A’ 4.15% EUR 300,000 Kingdom of Belgium Government 15/3/2037 1,862,889 0.36 Bond RegS 1.25% 22/4/2033* 320,388 0.06 EUR 535,000 Republic of Austria Government EUR 490,000 Kingdom of Belgium Government Bond RegS ‘144A’ 3.15% Bond RegS ‘144A’ 3.00% 20/6/2044 800,614 0.16 22/6/2034 643,948 0.13 EUR 480,000 Republic of Austria Government EUR 1,782,000 Kingdom of Belgium Government Bond RegS ‘144A’ 1.50% Bond RegS ‘144A’ 5.00% 20/2/2047 533,573 0.10 28/3/2035 2,880,140 0.56 EUR 324,000 Republic of Austria Government EUR 570,000 Kingdom of Belgium Government Bond RegS ‘144A’ 3.80% Bond RegS ‘144A’ 1.45% 26/1/2062 609,431 0.12 22/6/2037 609,655 0.12 EUR 240,000 Republic of Austria Government EUR 540,000 Kingdom of Belgium Government Bond RegS ‘144A’ 1.50% Bond RegS ‘144A’ 1.90% 2/11/2086 253,652 0.05 22/6/2038 616,475 0.12 EUR 355,000 Republic of Austria Government EUR 1,305,000 Kingdom of Belgium Government Bond RegS ‘144A’ 2.10% Bond RegS ‘144A’ 4.25% 20/9/2117 470,123 0.09 28/3/2041 2,083,041 0.40 19,299,544 3.75
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [93] iShares Euro Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Belgium continued France continued EUR 865,000 Kingdom of Belgium Government EUR 3,360,000 French Republic Government Bond Bond RegS 3.75% 22/6/2045 1,339,072 0.26 OAT RegS 25/5/2021 EUR 880,000 Kingdom of Belgium Government (Zero Coupon) 3,398,573 0.66 Bond RegS ‘144A’ 1.60% EUR 3,155,000 French Republic Government Bond 22/6/2047 927,291 0.18 OAT RegS 3.25% 25/10/2021 3,463,370 0.67 EUR 450,000 Kingdom of Belgium Government EUR 500,000 French Republic Government Bond Bond RegS ‘144A’ 1.70% OAT RegS 0.00% 25/2/2022 506,710 0.10 22/6/2050 477,232 0.09 EUR 4,089,000 French Republic Government Bond EUR 390,000 Kingdom of Belgium Government OAT RegS 3.00% 25/4/2022 4,527,055 0.88 Bond RegS ‘144A’ 2.25% EUR 2,465,000 French Republic Government Bond 22/6/2057 458,336 0.09 OAT RegS 25/5/2022 EUR 350,000 Kingdom of Belgium Government (Zero Coupon) 2,500,496 0.49 Bond RegS ‘144A’ 2.15% EUR 3,208,000 French Republic Government Bond 22/6/2066 398,906 0.08 OAT RegS 2.25% 25/10/2022 3,516,417 0.68 32,615,526 6.33 EUR 2,795,000 French Republic Government Bond OAT RegS 25/3/2023 (Zero Coupon) 2,836,366 0.55 Finland EUR 740,000 French Republic Government Bond EUR 580,000 Finland Government Bond RegS OAT RegS 8.50% 25/4/2023 1,009,933 0.20 ‘144A’ 0.375% 15/9/2020 587,969 0.11 EUR 2,600,000 French Republic Government Bond EUR 550,000 Finland Government Bond RegS OAT RegS 1.75% 25/5/2023 2,831,010 0.55 ‘144A’ 3.50% 15/4/2021 595,611 0.12 EUR 3,715,000 French Republic Government Bond EUR 500,000 Finland Government Bond RegS OAT RegS 4.25% 25/10/2023 4,503,100 0.87 ‘144A’ 15/4/2022 (Zero Coupon) 507,400 0.10 EUR 2,230,000 French Republic Government Bond EUR 625,000 Finland Government Bond RegS OAT RegS 25/3/2024 ‘144A’ 1.625% 15/9/2022 670,525 0.13 (Zero Coupon) 2,258,544 0.44 EUR 420,000 Finland Government Bond RegS EUR 3,235,000 French Republic Government Bond ‘144A’ 15/9/2023 (Zero Coupon) 426,623 0.08 OAT RegS 2.25% 25/5/2024 3,658,122 0.71 EUR 590,000 Finland Government Bond RegS EUR 3,275,000 French Republic Government Bond ‘144A’ 2.00% 15/4/2024 658,859 0.13 OAT RegS 1.75% 25/11/2024 3,640,539 0.71 EUR 383,000 Finland Government Bond RegS EUR 2,830,000 French Republic Government Bond ‘144A’ 4.00% 4/7/2025 484,556 0.09 OAT RegS 0.50% 25/5/2025 2,944,190 0.57 EUR 450,000 Finland Government Bond RegS EUR 2,510,000 French Republic Government Bond ‘144A’ 0.875% 15/9/2025 480,254 0.09 OAT RegS 6.00% 25/10/2025 3,522,848 0.68 EUR 240,000 Finland Government Bond RegS EUR 2,060,000 French Republic Government Bond ‘144A’ 0.50% 15/4/2026 249,864 0.05 OAT RegS 1.00% 25/11/2025 2,210,874 0.43 EUR 570,000 Finland Government Bond RegS EUR 3,230,000 French Republic Government Bond ‘144A’ 0.50% 15/9/2027 590,845 0.12 OAT RegS 3.50% 25/4/2026 4,054,247 0.79 EUR 290,000 Finland Government Bond RegS EUR 2,280,000 French Republic Government Bond ‘144A’ 2.75% 4/7/2028 360,276 0.07 OAT RegS 0.50% 25/5/2026 2,367,757 0.46 EUR 220,000 Finland Government Bond RegS EUR 3,160,000 French Republic Government Bond ‘144A’ 0.50% 15/9/2028 226,752 0.04 OAT RegS 0.25% 25/11/2026 3,216,406 0.62 EUR 150,000 Finland Government Bond RegS EUR 3,390,000 French Republic Government Bond ‘144A’ 0.50% 15/9/2029 153,501 0.03 OAT RegS 1.00% 25/5/2027 3,642,792 0.71 EUR 730,000 Finland Government Bond RegS EUR 3,100,000 French Republic Government Bond ‘144A’ 0.75% 15/4/2031 761,193 0.15 OAT RegS 2.75% 25/10/2027 3,805,963 0.74 EUR 290,000 Finland Government Bond RegS EUR 3,000,000 French Republic Government Bond ‘144A’ 1.125% 15/4/2034 314,528 0.06 OAT RegS 0.75% 25/5/2028* 3,148,920 0.61 EUR 350,000 Finland Government Bond RegS EUR 3,360,000 French Republic Government Bond ‘144A’ 2.625% 4/7/2042 491,187 0.10 OAT RegS 0.75% 25/11/2028 3,515,098 0.68 EUR 240,000 Finland Government Bond RegS EUR 2,410,000 French Republic Government Bond ‘144A’ 1.375% 15/4/2047 270,432 0.05 OAT RegS 5.50% 25/4/2029 3,666,478 0.71 7,830,375 1.52 EUR 3,110,000 French Republic Government Bond OAT RegS 2.50% 25/5/2030 3,823,372 0.74 France EUR 3,875,000 French Republic Government Bond EUR 3,172,000 French Republic Government Bond OAT RegS 1.50% 25/5/2031 4,333,645 0.84 OAT RegS 3.50% 25/4/2020 3,309,379 0.64 EUR 2,700,000 French Republic Government Bond EUR 1,340,000 French Republic Government Bond OAT RegS 5.75% 25/10/2032 4,537,512 0.88 OAT RegS 25/5/2020 EUR 840,000 French Republic Government Bond (Zero Coupon) 1,348,496 0.26 OAT RegS 1.25% 25/5/2034 903,991 0.18 EUR 3,975,000 French Republic Government Bond EUR 2,495,000 French Republic Government Bond OAT RegS 2.50% 25/10/2020 4,166,833 0.81 OAT RegS 4.75% 25/4/2035 4,024,161 0.78 EUR 1,650,000 French Republic Government Bond EUR 2,360,000 French Republic Government Bond OAT RegS 0.25% 25/11/2020 1,672,110 0.32 OAT RegS ‘144A’ 1.25% EUR 2,090,000 French Republic Government Bond 25/5/2036 2,507,972 0.49 OAT RegS 25/2/2021 EUR 2,345,000 French Republic Government Bond (Zero Coupon) 2,111,736 0.41 OAT RegS 4.00% 25/10/2038 3,646,264 0.71 EUR 2,653,000 French Republic Government Bond OAT RegS 3.75% 25/4/2021 2,889,488 0.56
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[94] BlackRock Global Index Funds (BGIF) iShares Euro Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
France continued Germany continued EUR 1,380,000 French Republic Government Bond EUR 1,395,000 Bundesrepublik Deutschland OAT RegS ‘144A’ 1.75% Bundesanleihe RegS 2.00% 25/6/2039 1,572,027 0.31 15/8/2023* 1,550,626 0.30 EUR 2,812,000 French Republic Government Bond EUR 835,000 Bundesrepublik Deutschland OAT RegS 4.50% 25/4/2041 4,748,006 0.92 Bundesanleihe RegS 6.25% EUR 2,240,000 French Republic Government Bond 4/1/2024 1,105,707 0.22 OAT RegS 3.25% 25/5/2045 3,275,037 0.64 EUR 2,395,000 Bundesrepublik Deutschland EUR 2,210,000 French Republic Government Bond Bundesanleihe RegS 1.75% OAT RegS ‘144A’ 2.00% 15/2/2024 2,658,953 0.52 25/5/2048 2,586,275 0.50 EUR 1,880,000 Bundesrepublik Deutschland EUR 580,000 French Republic Government Bond Bundesanleihe RegS 1.50% OAT RegS ‘144A’ 1.50% 15/5/2024 2,070,895 0.40 25/5/2050 600,190 0.12 EUR 1,530,000 Bundesrepublik Deutschland EUR 1,425,000 French Republic Government Bond Bundesanleihe RegS 1.00% OAT RegS 4.00% 25/4/2055 2,465,321 0.48 15/8/2024* 1,649,654 0.32 EUR 955,000 French Republic Government Bond EUR 2,700,000 Bundesrepublik Deutschland OAT RegS 4.00% 25/4/2060 1,698,601 0.33 Bundesanleihe RegS 0.50% EUR 890,000 French Republic Government Bond 15/2/2025* 2,845,800 0.55 OAT RegS ‘144A’ 1.75% 25/5/2066 947,463 0.18 EUR 1,960,000 Bundesrepublik Deutschland Bundesanleihe RegS 1.00% 131,913,687 25.61 15/8/2025 2,133,832 0.41 EUR 2,190,000 Bundesrepublik Deutschland Germany Bundesanleihe RegS 0.50% EUR 3,255,000 Bundesobligation RegS 17/4/2020 15/2/2026* 2,317,086 0.45 (Zero Coupon)* 3,275,604 0.64 EUR 1,780,000 Bundesrepublik Deutschland EUR 2,840,000 Bundesobligation RegS 0.25% Bundesanleihe RegS 15/8/2026 16/10/2020 2,877,900 0.56 (Zero Coupon)* 1,819,080 0.35 EUR 3,020,000 Bundesobligation RegS 9/4/2021 EUR 2,055,000 Bundesrepublik Deutschland (Zero Coupon)* 3,058,475 0.59 Bundesanleihe RegS 0.25% EUR 2,075,000 Bundesobligation RegS 8/10/2021 15/2/2027* 2,137,344 0.42 (Zero Coupon)* 2,107,079 0.41 EUR 835,000 Bundesrepublik Deutschland EUR 1,935,000 Bundesobligation RegS 8/4/2022 Bundesanleihe RegS 6.50% (Zero Coupon)* 1,970,449 0.38 4/7/2027 1,305,239 0.25 EUR 1,180,000 Bundesobligation RegS 7/10/2022 EUR 2,460,000 Bundesrepublik Deutschland (Zero Coupon) 1,203,883 0.23 Bundesanleihe RegS 0.50% EUR 930,000 Bundesobligation RegS 14/4/2023 15/8/2027* 2,608,018 0.51 (Zero Coupon) 950,348 0.19 EUR 1,470,000 Bundesrepublik Deutschland EUR 510,000 Bundesobligation RegS 13/10/2023 Bundesanleihe RegS 5.625% (Zero Coupon) 521,648 0.10 4/1/2028 2,228,968 0.43 EUR 1,527,000 Bundesrepublik Deutschland EUR 1,530,000 Bundesrepublik Deutschland Bundesanleihe RegS 3.00% Bundesanleihe RegS 0.50% 4/7/2020 1,596,585 0.31 15/2/2028* 1,620,805 0.32 EUR 1,250,000 Bundesrepublik Deutschland EUR 780,000 Bundesrepublik Deutschland Bundesanleihe RegS 2.25% Bundesanleihe RegS 4.75% 4/9/2020 1,301,400 0.25 4/7/2028 1,137,536 0.22 EUR 1,865,000 Bundesrepublik Deutschland EUR 1,760,000 Bundesrepublik Deutschland Bundesanleihe RegS 2.50% Bundesanleihe RegS 0.25% 4/1/2021* 1,970,261 0.38 15/8/2028* 1,819,875 0.35 EUR 1,250,000 Bundesrepublik Deutschland EUR 750,000 Bundesrepublik Deutschland Bundesanleihe RegS 0.25% Bundesanleihe RegS 3.25% 15/2/2029* 773,156 0.15 4/7/2021 1,359,738 0.26 EUR 704,000 Bundesrepublik Deutschland EUR 950,000 Bundesrepublik Deutschland Bundesanleihe RegS 6.25% Bundesanleihe RegS 2.25% 4/1/2030 1,186,543 0.23 4/9/2021 1,016,462 0.20 EUR 1,400,000 Bundesrepublik Deutschland EUR 1,625,000 Bundesrepublik Deutschland Bundesanleihe RegS 5.50% Bundesanleihe RegS 2.00% 4/1/2031 2,310,714 0.45 4/1/2022 1,743,479 0.34 EUR 1,680,000 Bundesrepublik Deutschland EUR 1,595,000 Bundesrepublik Deutschland Bundesanleihe RegS 4.75% Bundesanleihe RegS 1.75% 4/7/2034 2,838,066 0.55 4/7/2022* 1,718,198 0.33 EUR 1,994,000 Bundesrepublik Deutschland EUR 2,272,000 Bundesrepublik Deutschland Bundesanleihe RegS 4.00% Bundesanleihe RegS 1.50% 4/1/2037 3,276,581 0.64 4/9/2022 2,436,061 0.47 EUR 1,225,000 Bundesrepublik Deutschland EUR 995,000 Bundesrepublik Deutschland Bundesanleihe RegS 4.25% Bundesanleihe RegS 1.50% 4/7/2039 2,154,309 0.42 15/2/2023* 1,074,953 0.21 EUR 1,330,000 Bundesrepublik Deutschland EUR 1,310,000 Bundesrepublik Deutschland Bundesanleihe RegS 4.75% Bundesanleihe RegS 1.50% 4/7/2040 2,517,451 0.49 15/5/2023* 1,421,265 0.28
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [95] iShares Euro Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Germany continued Italy continued EUR 1,275,000 Bundesrepublik Deutschland EUR 2,780,000 Italy Buoni Poliennali Del Tesoro Bundesanleihe RegS 3.25% 5.00% 1/3/2022 3,100,131 0.60 4/7/2042 2,067,381 0.40 EUR 1,745,000 Italy Buoni Poliennali Del Tesoro EUR 2,210,000 Bundesrepublik Deutschland 1.20% 1/4/2022 1,755,679 0.34 Bundesanleihe RegS 2.50% EUR 1,425,000 Italy Buoni Poliennali Del Tesoro 4/7/2044 3,253,319 0.63 1.35% 15/4/2022 1,439,207 0.28 EUR 2,270,000 Bundesrepublik Deutschland EUR 1,280,000 Italy Buoni Poliennali Del Tesoro Bundesanleihe RegS 2.50% 5.50% 1/9/2022 1,465,638 0.28 15/8/2046 3,398,803 0.66 EUR 1,830,000 Italy Buoni Poliennali Del Tesoro EUR 1,130,000 Bundesrepublik Deutschland 1.45% 15/9/2022 1,850,148 0.36 Bundesanleihe RegS 1.25% EUR 1,570,000 Italy Buoni Poliennali Del Tesoro 15/8/2048* 1,334,926 0.26 0.95% 1/3/2023 1,549,135 0.30 EUR 610,000 Bundesschatzanweisungen RegS EUR 1,790,000 Italy Buoni Poliennali Del Tesoro 13/3/2020 (Zero Coupon) 613,404 0.12 0.95% 15/3/2023 1,765,826 0.34 88,337,859 17.15 EUR 1,435,000 Italy Buoni Poliennali Del Tesoro 4.50% 1/5/2023 1,611,462 0.31 Ireland EUR 1,750,000 Italy Buoni Poliennali Del Tesoro EUR 815,000 Ireland Government Bond 4.50% 0.65% 15/10/2023 1,691,095 0.33 18/4/2020 858,391 0.17 EUR 790,000 Italy Buoni Poliennali Del Tesoro EUR 500,000 Ireland Government Bond 5.00% 9.00% 1/11/2023 1,050,890 0.20 18/10/2020 543,078 0.11 EUR 2,020,000 Italy Buoni Poliennali Del Tesoro EUR 1,175,000 Ireland Government Bond 5.40% 4.50% 1/3/2024 2,289,104 0.44 13/3/2025 1,549,308 0.30 EUR 1,910,000 Italy Buoni Poliennali Del Tesoro EUR 670,000 Ireland Government Bond RegS 1.85% 15/5/2024 1,926,865 0.37 0.80% 15/3/2022 692,566 0.13 EUR 1,885,000 Italy Buoni Poliennali Del Tesoro EUR 610,000 Ireland Government Bond RegS 3.75% 1/9/2024 2,074,348 0.40 18/10/2022 (Zero Coupon) 615,655 0.12 EUR 1,950,000 Italy Buoni Poliennali Del Tesoro EUR 475,000 Ireland Government Bond RegS 2.50% 1/12/2024 2,023,164 0.39 3.90% 20/3/2023 553,527 0.11 EUR 1,490,000 Italy Buoni Poliennali Del Tesoro EUR 505,000 Ireland Government Bond RegS 1.45% 15/5/2025 1,449,859 0.28 3.40% 18/3/2024 593,309 0.11 EUR 1,330,000 Italy Buoni Poliennali Del Tesoro EUR 795,000 Ireland Government Bond RegS 1.50% 1/6/2025 1,298,885 0.25 1.00% 15/5/2026 841,953 0.16 EUR 1,200,000 Italy Buoni Poliennali Del Tesoro EUR 530,000 Ireland Government Bond RegS 2.00% 1/12/2025 1,201,506 0.23 0.90% 15/5/2028 553,288 0.11 EUR 1,400,000 Italy Buoni Poliennali Del Tesoro EUR 400,000 Ireland Government Bond RegS 1.60% 1/6/2026 1,358,945 0.26 1.10% 15/5/2029 421,364 0.08 EUR 905,000 Italy Buoni Poliennali Del Tesoro EUR 1,100,000 Ireland Government Bond RegS 7.25% 1/11/2026 1,224,673 0.24 2.40% 15/5/2030 1,307,515 0.25 EUR 1,450,000 Italy Buoni Poliennali Del Tesoro EUR 340,000 Ireland Government Bond RegS 2.20% 1/6/2027 1,445,556 0.28 1.30% 15/5/2033 356,313 0.07 EUR 2,330,000 Italy Buoni Poliennali Del Tesoro EUR 565,000 Ireland Government Bond RegS 2.05% 1/8/2027 2,291,322 0.45 1.70% 15/5/2037 616,375 0.12 EUR 2,630,000 Italy Buoni Poliennali Del Tesoro EUR 710,000 Ireland Government Bond RegS 6.50% 1/11/2027 3,474,756 0.68 2.00% 18/2/2045 809,471 0.16 EUR 2,385,000 Italy Buoni Poliennali Del Tesoro 5.25% 1/11/2029 2,958,736 0.57 10,312,113 2.00 EUR 1,540,000 Italy Buoni Poliennali Del Tesoro 5.75% 1/2/2033 2,028,611 0.39 Italy EUR 1,275,000 Italy Buoni Poliennali Del Tesoro EUR 2,186,000 Italy Buoni Poliennali Del Tesoro RegS 4.25% 1/3/2020 1,324,088 0.26 0.70% 1/5/2020 2,200,165 0.43 EUR 1,370,000 Italy Buoni Poliennali Del Tesoro EUR 1,055,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 3.75% 1/5/2021 1,460,064 0.28 0.35% 15/6/2020 1,057,859 0.21 EUR 1,140,000 Italy Buoni Poliennali Del Tesoro EUR 2,025,000 Italy Buoni Poliennali Del Tesoro RegS 0.45% 1/6/2021 1,137,560 0.22 4.00% 1/9/2020 2,132,771 0.41 EUR 1,805,000 Italy Buoni Poliennali Del Tesoro EUR 1,930,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 3.75% 1/8/2021 1,931,260 0.38 0.20% 15/10/2020 1,928,958 0.37 EUR 600,000 Italy Buoni Poliennali Del Tesoro EUR 1,480,000 Italy Buoni Poliennali Del Tesoro RegS 2.30% 15/10/2021 622,362 0.12 0.65% 1/11/2020 1,488,599 0.29 EUR 1,670,000 Italy Buoni Poliennali Del Tesoro EUR 2,910,000 Italy Buoni Poliennali Del Tesoro RegS 0.90% 1/8/2022 1,658,978 0.32 3.75% 1/3/2021 3,091,875 0.60 EUR 1,235,000 Italy Buoni Poliennali Del Tesoro EUR 1,370,000 Italy Buoni Poliennali Del Tesoro RegS 5.50% 1/11/2022 1,420,077 0.28 0.05% 15/4/2021 1,356,601 0.26 EUR 1,695,000 Italy Buoni Poliennali Del Tesoro EUR 1,530,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 4.75% 1/8/2023 1,929,978 0.38 4.75% 1/9/2021 1,675,327 0.33 EUR 620,000 Italy Buoni Poliennali Del Tesoro EUR 1,140,000 Italy Buoni Poliennali Del Tesoro RegS 2.45% 1/10/2023 645,209 0.13 0.35% 1/11/2021 1,128,497 0.22 EUR 1,150,000 Italy Buoni Poliennali Del Tesoro EUR 1,945,000 Italy Buoni Poliennali Del Tesoro RegS 1.45% 15/11/2024 1,128,955 0.22 2.15% 15/12/2021 2,011,733 0.39
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[96] BlackRock Global Index Funds (BGIF) iShares Euro Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Italy continued Netherlands continued EUR 1,872,000 Italy Buoni Poliennali Del Tesoro EUR 1,590,000 Netherlands Government Bond RegS ‘144A’ 5.00% 1/3/2025 2,196,680 0.43 RegS ‘144A’ 15/1/2024 EUR 330,000 Italy Buoni Poliennali Del Tesoro (Zero Coupon) 1,618,016 0.32 RegS 2.50% 15/11/2025 339,210 0.07 EUR 1,250,000 Netherlands Government Bond EUR 1,935,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 2.00% 15/7/2024 1,406,438 0.27 RegS ‘144A’ 4.50% 1/3/2026 2,234,316 0.43 EUR 920,000 Netherlands Government Bond EUR 2,400,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 0.25% 15/7/2025 949,403 0.19 RegS 1.25% 1/12/2026 2,263,992 0.44 EUR 1,285,000 Netherlands Government Bond EUR 1,520,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 0.50% 15/7/2026 1,347,271 0.26 RegS 2.00% 1/2/2028 1,484,128 0.29 EUR 1,575,000 Netherlands Government Bond EUR 1,345,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 0.75% 15/7/2027 1,679,139 0.33 RegS ‘144A’ 4.75% 1/9/2028 1,610,476 0.31 EUR 1,030,000 Netherlands Government Bond EUR 1,480,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 0.75% 15/7/2028 1,097,856 0.21 RegS 2.80% 1/12/2028 1,520,448 0.30 EUR 390,000 Netherlands Government Bond EUR 2,264,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 0.25% 15/7/2029 394,380 0.08 RegS ‘144A’ 3.50% 1/3/2030 2,437,739 0.47 EUR 1,119,000 Netherlands Government Bond EUR 2,520,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 2.50% 15/1/2033 1,451,567 0.28 RegS 6.00% 1/5/2031 3,347,618 0.65 EUR 1,317,000 Netherlands Government Bond EUR 1,912,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 4.00% 15/1/2037 2,126,257 0.41 RegS ‘144A’ 1.65% 1/3/2032 1,689,988 0.33 EUR 1,330,000 Netherlands Government Bond EUR 1,130,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 3.75% 15/1/2042 2,246,769 0.44 RegS ‘144A’ 2.45% 1/9/2033 1,072,596 0.21 EUR 1,180,000 Netherlands Government Bond EUR 2,085,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 2.75% 15/1/2047 1,818,675 0.35 RegS ‘144A’ 5.00% 1/8/2034 2,586,484 0.50 26,133,703 5.08 EUR 860,000 Italy Buoni Poliennali Del Tesoro RegS ‘144A’ 3.35% 1/3/2035 891,227 0.17 Spain EUR 1,620,000 Italy Buoni Poliennali Del Tesoro EUR 1,520,000 Spain Government Bond 1.15% RegS ‘144A’ 2.25% 1/9/2036 1,457,012 0.28 30/7/2020 1,550,886 0.30 EUR 2,580,000 Italy Buoni Poliennali Del Tesoro EUR 1,610,000 Spain Government Bond 0.05% RegS ‘144A’ 4.00% 1/2/2037 2,880,235 0.56 31/1/2021 1,620,739 0.31 EUR 1,230,000 Italy Buoni Poliennali Del Tesoro EUR 2,450,000 Spain Government Bond 0.75% RegS ‘144A’ 2.95% 1/9/2038 1,181,526 0.23 30/7/2021 2,509,045 0.49 EUR 1,490,000 Italy Buoni Poliennali Del Tesoro EUR 470,000 Spain Government Bond 0.05% RegS ‘144A’ 5.00% 1/8/2039 1,855,497 0.36 31/10/2021 473,377 0.09 EUR 1,849,000 Italy Buoni Poliennali Del Tesoro EUR 2,165,000 Spain Government Bond 0.40% RegS ‘144A’ 5.00% 1/9/2040 2,294,591 0.45 30/4/2022 2,204,598 0.43 EUR 1,395,000 Italy Buoni Poliennali Del Tesoro EUR 2,030,000 Spain Government Bond 0.45% RegS ‘144A’ 4.75% 1/9/2044 1,694,465 0.33 31/10/2022 2,071,118 0.40 EUR 1,615,000 Italy Buoni Poliennali Del Tesoro EUR 880,000 Spain Government Bond 0.35% RegS ‘144A’ 3.25% 1/9/2046 1,579,244 0.31 30/7/2023 891,365 0.17 EUR 1,290,000 Italy Buoni Poliennali Del Tesoro EUR 1,830,000 Spain Government Bond 6.00% RegS ‘144A’ 2.70% 1/3/2047 1,143,991 0.22 31/1/2029 2,688,718 0.52 EUR 1,260,000 Italy Buoni Poliennali Del Tesoro EUR 2,010,000 Spain Government Bond 5.75% RegS ‘144A’ 3.45% 1/3/2048 1,260,605 0.25 30/7/2032 3,082,506 0.60 EUR 670,000 Italy Buoni Poliennali Del Tesoro EUR 2,335,000 Spain Government Bond RegS RegS ‘144A’ 3.85% 1/9/2049 703,654 0.14 ‘144A’ 4.00% 30/4/2020 2,444,815 0.48 EUR 600,000 Italy Buoni Poliennali Del Tesoro EUR 1,190,000 Spain Government Bond RegS RegS ‘144A’ 2.80% 1/3/2067 508,614 0.10 ‘144A’ 4.85% 31/10/2020 1,288,895 0.25 115,890,793 22.50 EUR 1,935,000 Spain Government Bond RegS ‘144A’ 5.50% 30/4/2021 2,168,555 0.42 Netherlands EUR 1,580,000 Spain Government Bond RegS EUR 238,000 Netherlands Government Bond ‘144A’ 5.85% 31/1/2022 1,851,981 0.36 3.75% 15/1/2023 276,911 0.06 EUR 1,580,000 Spain Government Bond RegS EUR 1,114,000 Netherlands Government Bond ‘144A’ 5.40% 31/1/2023 1,911,460 0.37 5.50% 15/1/2028 1,659,971 0.32 EUR 1,595,000 Spain Government Bond RegS EUR 1,380,000 Netherlands Government Bond ‘144A’ 4.40% 31/10/2023 1,908,290 0.37 RegS ‘144A’ 3.50% 15/7/2020 1,453,250 0.28 EUR 1,270,000 Spain Government Bond RegS EUR 1,280,000 Netherlands Government Bond ‘144A’ 4.80% 31/1/2024 1,553,693 0.30 RegS ‘144A’ 3.25% 15/7/2021 1,393,869 0.27 EUR 1,650,000 Spain Government Bond RegS EUR 1,380,000 Netherlands Government Bond ‘144A’ 3.80% 30/4/2024 1,948,832 0.38 RegS ‘144A’ 15/1/2022 EUR 2,370,000 Spain Government Bond RegS (Zero Coupon) 1,401,142 0.27 ‘144A’ 2.75% 31/10/2024 2,690,317 0.52 EUR 1,330,000 Netherlands Government Bond EUR 2,700,000 Spain Government Bond RegS RegS ‘144A’ 2.25% 15/7/2022 1,452,852 0.28 ‘144A’ 1.60% 30/4/2025 2,896,209 0.56 EUR 625,000 Netherlands Government Bond EUR 2,200,000 Spain Government Bond RegS RegS ‘144A’ 7.50% 15/1/2023 816,650 0.16 ‘144A’ 4.65% 30/7/2025 2,777,126 0.54 EUR 1,410,000 Netherlands Government Bond EUR 1,816,000 Spain Government Bond RegS RegS ‘144A’ 1.75% 15/7/2023 1,543,287 0.30 ‘144A’ 2.15% 31/10/2025 2,009,259 0.39
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [97] iShares Euro Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description EUR Assets Holding Description EUR Assets
Spain continued Spain continued EUR 1,730,000 Spain Government Bond RegS EUR 1,420,000 Spain Government Bond RegS ‘144A’ 1.95% 30/4/2026 1,890,449 0.37 ‘144A’ 4.90% 30/7/2040 2,163,881 0.42 EUR 1,520,000 Spain Government Bond RegS EUR 1,714,000 Spain Government Bond RegS ‘144A’ 5.90% 30/7/2026 2,091,178 0.41 ‘144A’ 4.70% 30/7/2041 2,562,824 0.50 EUR 1,890,000 Spain Government Bond RegS EUR 1,290,000 Spain Government Bond RegS ‘144A’ 1.30% 31/10/2026 1,975,986 0.38 ‘144A’ 5.15% 31/10/2044 2,072,875 0.40 EUR 1,360,000 Spain Government Bond RegS EUR 1,340,000 Spain Government Bond RegS ‘144A’ 1.50% 30/4/2027 1,435,358 0.28 ‘144A’ 2.90% 31/10/2046 1,544,410 0.30 EUR 1,800,000 Spain Government Bond RegS EUR 750,000 Spain Government Bond RegS ‘144A’ 1.45% 31/10/2027 1,889,280 0.37 ‘144A’ 2.70% 31/10/2048 825,251 0.16 EUR 1,670,000 Spain Government Bond RegS EUR 845,000 Spain Government Bond RegS ‘144A’ 1.40% 30/4/2028 1,740,866 0.34 ‘144A’ 3.45% 30/7/2066 1,054,484 0.20 EUR 1,760,000 Spain Government Bond RegS 75,201,298 14.60 ‘144A’ 1.40% 30/7/2028 1,826,510 0.35 EUR 1,796,000 Spain Government Bond RegS Total Bonds 507,534,898 98.54 ‘144A’ 5.15% 31/10/2028 2,478,606 0.48 Total Transferable Securities and Money EUR 1,030,000 Spain Government Bond RegS Market Instruments Admitted to an ‘144A’ 1.45% 30/4/2029 1,065,468 0.21 Official Stock Exchange Listing or EUR 2,080,000 Spain Government Bond RegS Dealt in on Another Regulated Market 507,534,898 98.54 ‘144A’ 1.95% 30/7/2030 2,239,661 0.44 Securities portfolio at market value 507,534,898 98.54 EUR 1,215,000 Spain Government Bond RegS ‘144A’ 2.35% 30/7/2033 1,341,791 0.26 Other Net Assets 7,501,986 1.46 EUR 1,780,000 Spain Government Bond RegS ‘144A’ 4.20% 31/1/2037 2,460,636 0.48 Total Net Assets (EUR) 515,036,884 100.00
Sector Breakdown as at 31 March 2019
% of Net Assets Government 98.54 Securities portfolio at market value 98.54 Other Net Assets 1.46 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
[98] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU)
iShares Global Government Bond Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
BONDS Austria continued EUR 335,000 Republic of Austria Government Australia Bond RegS ‘144A’ 1.65% AUD 260,000 Australia Government Bond 2.25% 21/10/2024 416,532 0.08 21/11/2022 189,841 0.04 EUR 165,000 Republic of Austria Government AUD 170,000 Australia Government Bond RegS Bond RegS ‘144A’ 1.20% 4.50% 15/4/2020 124,137 0.02 20/10/2025 202,021 0.04 AUD 520,000 Australia Government Bond RegS EUR 300,000 Republic of Austria Government 1.75% 21/11/2020 370,056 0.07 Bond RegS ‘144A’ 4.85% AUD 990,000 Australia Government Bond RegS 15/3/2026 454,141 0.09 5.75% 15/5/2021 764,228 0.15 EUR 190,000 Republic of Austria Government AUD 600,000 Australia Government Bond RegS Bond RegS ‘144A’ 0.75% 2.00% 21/12/2021 432,036 0.08 20/10/2026 225,887 0.04 AUD 300,000 Australia Government Bond RegS EUR 170,000 Republic of Austria Government 5.75% 15/7/2022 242,327 0.05 Bond RegS ‘144A’ 0.50% AUD 750,000 Australia Government Bond RegS 20/4/2027 198,037 0.04 5.50% 21/4/2023 617,278 0.12 EUR 470,000 Republic of Austria Government AUD 715,000 Australia Government Bond RegS Bond RegS ‘144A’ 0.75% 2.75% 21/4/2024 538,885 0.10 20/2/2028 556,655 0.11 AUD 320,000 Australia Government Bond RegS 3.25% 21/4/2025 249,278 0.05 EUR 150,000 Republic of Austria Government AUD 375,000 Australia Government Bond RegS Bond RegS ‘144A’ 2.40% 4.25% 21/4/2026 312,387 0.06 23/5/2034 211,750 0.04 AUD 981,000 Australia Government Bond RegS EUR 296,000 Republic of Austria Government 4.75% 21/4/2027 855,631 0.17 Bond RegS ‘144A’ 4.15% AUD 990,000 Australia Government Bond RegS 15/3/2037 525,553 0.10 2.75% 21/11/2027 759,705 0.15 EUR 165,000 Republic of Austria Government AUD 400,000 Australia Government Bond RegS Bond RegS ‘144A’ 3.15% 2.25% 21/5/2028 295,365 0.06 20/6/2044 277,228 0.05 AUD 840,000 Australia Government Bond RegS EUR 130,000 Republic of Austria Government 2.75% 21/11/2028 646,807 0.13 Bond RegS ‘144A’ 1.50% AUD 460,000 Australia Government Bond RegS 20/2/2047 162,248 0.03 3.25% 21/4/2029 369,905 0.07 EUR 105,000 Republic of Austria Government AUD 770,000 Australia Government Bond RegS Bond RegS ‘144A’ 3.80% 2.75% 21/11/2029 596,402 0.12 26/1/2062 221,744 0.04 AUD 175,000 Australia Government Bond RegS EUR 60,000 Republic of Austria Government 4.50% 21/4/2033 163,325 0.03 Bond RegS ‘144A’ 1.50% AUD 330,000 Australia Government Bond RegS 2/11/2086 71,197 0.01 2.75% 21/6/2035 256,327 0.05 EUR 90,000 Republic of Austria Government AUD 195,000 Australia Government Bond RegS Bond RegS ‘144A’ 2.10% 3.75% 21/4/2037 171,656 0.03 20/9/2117 133,816 0.03 AUD 340,000 Australia Government Bond RegS 5,976,740 1.16 3.25% 21/6/2039 281,119 0.05 AUD 75,000 Australia Government Bond RegS Belgium 2.75% 21/5/2041 57,255 0.01 EUR 290,000 Kingdom of Belgium Government AUD 270,000 Australia Government Bond RegS Bond 4.00% 28/3/2022 369,596 0.07 3.00% 21/3/2047 214,307 0.04 EUR 360,000 Kingdom of Belgium Government 8,508,257 1.65 Bond 5.50% 28/3/2028 592,478 0.11 EUR 230,000 Kingdom of Belgium Government Austria Bond RegS ‘144A’ 3.75% EUR 280,000 Republic of Austria Government 28/9/2020 274,857 0.05 Bond 6.25% EUR 440,000 Kingdom of Belgium Government 15/7/2027 477,214 0.09 Bond RegS ‘144A’ 4.25% EUR 110,000 Republic of Austria Government 28/9/2021 553,084 0.11 Bond RegS ‘144A’ 3.90% EUR 480,000 Kingdom of Belgium Government 15/7/2020 130,641 0.03 Bond RegS ‘144A’ 4.25% EUR 410,000 Republic of Austria Government 28/9/2022 627,987 0.12 Bond RegS ‘144A’ 3.50% EUR 325,000 Kingdom of Belgium Government 15/9/2021 506,632 0.10 Bond RegS 2.25% 22/6/2023 405,647 0.08 EUR 220,000 Republic of Austria Government EUR 194,000 Kingdom of Belgium Government Bond RegS ‘144A’ 3.65% Bond RegS ‘144A’ 0.20% 20/4/2022 278,407 0.05 22/10/2023 222,749 0.04 EUR 160,000 Republic of Austria Government EUR 485,000 Kingdom of Belgium Government Bond RegS ‘144A’ 20/9/2022 Bond RegS ‘144A’ 2.60% (Zero Coupon) 182,451 0.04 22/6/2024 624,951 0.12 EUR 225,000 Republic of Austria Government EUR 120,000 Kingdom of Belgium Government Bond RegS ‘144A’ 3.40% Bond RegS ‘144A’ 0.50% 22/11/2022 288,433 0.06 22/10/2024 139,714 0.03 EUR 370,000 Republic of Austria Government EUR 525,000 Kingdom of Belgium Government Bond RegS ‘144A’ 1.75% Bond RegS ‘144A’ 0.80% 20/10/2023 456,153 0.09 22/6/2025 621,474 0.12
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [99] iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Belgium continued Canada continued EUR 200,000 Kingdom of Belgium Government CAD 300,000 Canadian Government Bond Bond RegS ‘144A’ 4.50% 1.00% 1/9/2022 220,505 0.04 28/3/2026 295,268 0.06 CAD 430,000 Canadian Government Bond EUR 215,000 Kingdom of Belgium Government 1.75% 1/3/2023 324,398 0.06 Bond RegS ‘144A’ 1.00% CAD 100,000 Canadian Government Bond 22/6/2026 257,842 0.05 1.50% 1/6/2023 74,731 0.02 EUR 540,000 Kingdom of Belgium Government CAD 850,000 Canadian Government Bond Bond RegS ‘144A’ 0.80% 2.50% 1/6/2024 666,564 0.13 22/6/2027 637,012 0.12 CAD 400,000 Canadian Government Bond EUR 350,000 Kingdom of Belgium Government 2.25% 1/6/2025 311,478 0.06 Bond RegS ‘144A’ 0.80% CAD 300,000 Canadian Government Bond 22/6/2028 410,834 0.08 1.50% 1/6/2026 223,227 0.04 EUR 150,000 Kingdom of Belgium Government CAD 315,000 Canadian Government Bond Bond RegS ‘144A’ 0.90% 1.00% 1/6/2027 224,756 0.04 22/6/2029 176,481 0.03 CAD 140,000 Canadian Government Bond EUR 175,000 Kingdom of Belgium Government 8.00% 1/6/2027 155,843 0.03 Bond RegS ‘144A’ 1.00% CAD 210,000 Canadian Government Bond 22/6/2031 205,651 0.04 2.00% 1/6/2028 162,145 0.03 EUR 150,000 Kingdom of Belgium Government CAD 290,000 Canadian Government Bond Bond RegS 4.00% 28/3/2032 239,114 0.05 2.25% 1/6/2029 229,215 0.04 EUR 140,000 Kingdom of Belgium Government CAD 210,000 Canadian Government Bond Bond RegS 1.25% 22/4/2033* 167,867 0.03 5.75% 1/6/2029 216,988 0.04 EUR 230,000 Kingdom of Belgium Government CAD 305,000 Canadian Government Bond Bond RegS ‘144A’ 3.00% 5.75% 1/6/2033 342,131 0.07 22/6/2034 339,364 0.06 CAD 309,000 Canadian Government Bond EUR 419,000 Kingdom of Belgium Government 5.00% 1/6/2037 343,438 0.07 Bond RegS ‘144A’ 5.00% CAD 295,000 Canadian Government Bond 28/3/2035 760,332 0.15 4.00% 1/6/2041 304,581 0.06 EUR 80,000 Kingdom of Belgium Government CAD 410,000 Canadian Government Bond Bond RegS ‘144A’ 1.45% 3.50% 1/12/2045* 409,041 0.08 22/6/2037 96,069 0.02 CAD 385,000 Canadian Government Bond EUR 255,000 Kingdom of Belgium Government 2.75% 1/12/2048 344,089 0.07 Bond RegS ‘144A’ 1.90% CAD 50,000 Canadian Government Bond 22/6/2038 326,847 0.06 2.00% 1/12/2051 38,416 0.01 EUR 345,000 Kingdom of Belgium Government CAD 135,000 Canadian Government Bond Bond RegS ‘144A’ 4.25% 2.75% 1/12/2064 128,864 0.03 28/3/2041 618,286 0.12 7,575,171 1.47 EUR 255,000 Kingdom of Belgium Government Bond RegS 3.75% 22/6/2045 443,212 0.09 EUR 160,000 Kingdom of Belgium Government Denmark Bond RegS ‘144A’ 1.60% DKK 3,320,000 Denmark Government Bond 22/6/2047 189,294 0.04 3.00% 15/11/2021 547,309 0.10 EUR 180,000 Kingdom of Belgium Government DKK 550,000 Denmark Government Bond Bond RegS ‘144A’ 1.70% 1.50% 15/11/2023 90,444 0.02 22/6/2050 214,325 0.04 DKK 1,565,000 Denmark Government Bond EUR 110,000 Kingdom of Belgium Government 1.75% 15/11/2025 268,426 0.05 Bond RegS ‘144A’ 2.25% DKK 2,590,000 Denmark Government Bond 22/6/2057 145,143 0.03 0.50% 15/11/2027 412,534 0.08 EUR 70,000 Kingdom of Belgium Government DKK 2,795,000 Denmark Government Bond Bond RegS ‘144A’ 2.15% 4.50% 15/11/2039 768,542 0.15 22/6/2066 (traded in Belgium) 89,574 0.02 2,087,255 0.40 EUR 70,000 Kingdom of Belgium Government Bond RegS ‘144A’ 2.15% Finland 22/6/2066 (traded in Germany) 89,574 0.02 EUR 250,000 Finland Government Bond RegS 10,134,626 1.96 ‘144A’ 3.375% 15/4/2020 292,232 0.06 EUR 250,000 Finland Government Bond RegS Canada ‘144A’ 0.375% 15/9/2020 284,544 0.06 CAD 780,000 Canadian Government Bond EUR 60,000 Finland Government Bond RegS 0.75% 1/9/2020 577,243 0.11 ‘144A’ 3.50% 15/4/2021 72,952 0.01 CAD 1,140,000 Canadian Government Bond EUR 100,000 Finland Government Bond RegS 0.75% 1/3/2021 840,573 0.16 ‘144A’ 15/4/2022 (Zero Coupon) 113,937 0.02 CAD 430,000 Canadian Government Bond EUR 140,000 Finland Government Bond RegS 3.25% 1/6/2021 333,506 0.07 ‘144A’ 1.625% 15/9/2022 168,634 0.03 CAD 915,000 Canadian Government Bond EUR 80,000 Finland Government Bond RegS 0.75% 1/9/2021 672,132 0.13 ‘144A’ 1.50% 15/4/2023 96,792 0.02 CAD 380,000 Canadian Government Bond EUR 160,000 Finland Government Bond RegS 0.50% 1/3/2022 276,035 0.05 ‘144A’ 15/9/2023 (Zero Coupon) 182,473 0.04 CAD 200,000 Canadian Government Bond EUR 40,000 Finland Government Bond RegS 2.75% 1/6/2022 155,272 0.03 ‘144A’ 2.00% 15/4/2024 50,152 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[100] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Finland continued France continued EUR 125,000 Finland Government Bond RegS EUR 740,000 French Republic Government Bond ‘144A’ 4.00% 4/7/2025 177,557 0.04 OAT RegS 0.25% 25/11/2026 845,666 0.16 EUR 100,000 Finland Government Bond RegS EUR 720,000 French Republic Government Bond ‘144A’ 0.50% 15/4/2026 116,890 0.02 OAT RegS 1.00% 25/5/2027 868,661 0.17 EUR 150,000 Finland Government Bond RegS EUR 890,000 French Republic Government Bond ‘144A’ 0.50% 15/9/2027 174,571 0.03 OAT RegS 2.75% 25/10/2027 1,226,806 0.24 EUR 340,000 Finland Government Bond RegS EUR 1,170,000 French Republic Government Bond ‘144A’ 2.75% 4/7/2028 474,241 0.09 OAT RegS 0.75% 25/5/2028* 1,378,826 0.27 EUR 130,000 Finland Government Bond RegS EUR 680,000 French Republic Government Bond ‘144A’ 0.75% 15/4/2031 152,194 0.03 OAT RegS 0.75% 25/11/2028 798,712 0.15 EUR 80,000 Finland Government Bond RegS EUR 770,000 French Republic Government Bond ‘144A’ 1.125% 15/4/2034 97,417 0.02 OAT RegS 5.50% 25/4/2029 1,315,243 0.25 EUR 110,000 Finland Government Bond RegS EUR 714,000 French Republic Government Bond ‘144A’ 2.625% 4/7/2042 173,322 0.03 OAT RegS 2.50% 25/5/2030 985,525 0.19 EUR 50,000 Finland Government Bond RegS EUR 1,220,000 French Republic Government Bond ‘144A’ 1.375% 15/4/2047 63,256 0.01 OAT RegS 1.50% 25/5/2031 1,531,880 0.30 2,691,164 0.52 EUR 745,000 French Republic Government Bond OAT RegS 5.75% 25/10/2032 1,405,703 0.27 France EUR 130,000 French Republic Government Bond EUR 120,000 French Republic Government Bond OAT RegS 1.25% 25/5/2034 157,076 0.03 OAT RegS 3.50% 25/4/2020 140,565 0.03 EUR 603,000 French Republic Government Bond EUR 740,000 French Republic Government Bond OAT RegS 4.75% 25/4/2035 1,091,956 0.21 OAT RegS 25/5/2020 EUR 985,000 French Republic Government Bond (Zero Coupon) 836,103 0.16 OAT RegS ‘144A’ 1.25% EUR 1,320,000 French Republic Government Bond 25/5/2036 1,175,249 0.23 OAT RegS 2.50% 25/10/2020 1,553,553 0.30 EUR 695,000 French Republic Government Bond EUR 545,000 French Republic Government Bond OAT RegS 4.00% 25/10/2038 1,213,314 0.24 OAT RegS 0.25% 25/11/2020 620,098 0.12 EUR 280,000 French Republic Government Bond EUR 700,000 French Republic Government Bond OAT RegS ‘144A’ 1.75% OAT RegS 25/2/2021 25/6/2039 358,115 0.07 (Zero Coupon) 794,099 0.15 EUR 718,000 French Republic Government Bond EUR 1,300,000 French Republic Government Bond OAT RegS 4.50% 25/4/2041 1,361,142 0.26 OAT RegS 3.75% 25/4/2021 1,589,682 0.31 EUR 598,000 French Republic Government Bond EUR 510,000 French Republic Government Bond OAT RegS 3.25% 25/5/2045 981,641 0.19 OAT RegS 25/5/2021 EUR 680,000 French Republic Government Bond (Zero Coupon) 579,176 0.11 OAT RegS ‘144A’ 2.00% EUR 810,000 French Republic Government Bond 25/5/2048 893,459 0.17 OAT RegS 3.25% 25/10/2021 998,315 0.19 EUR 120,000 French Republic Government Bond EUR 1,240,000 French Republic Government Bond OAT RegS ‘144A’ 1.50% OAT RegS 3.00% 25/4/2022 1,541,358 0.30 25/5/2050 139,420 0.03 EUR 700,000 French Republic Government Bond EUR 360,000 French Republic Government Bond OAT RegS 25/5/2022 OAT RegS 4.00% 25/4/2055 699,269 0.14 (Zero Coupon) 797,242 0.15 EUR 285,000 French Republic Government Bond EUR 710,000 French Republic Government Bond OAT RegS 4.00% 25/4/2060 569,136 0.11 OAT RegS 2.25% 25/10/2022 873,791 0.17 EUR 240,000 French Republic Government Bond EUR 830,000 French Republic Government Bond OAT RegS ‘144A’ 1.75% OAT RegS 25/3/2023 25/5/2066 286,858 0.06 (Zero Coupon) 945,675 0.18 41,306,162 8.01 EUR 785,000 French Republic Government Bond OAT RegS 1.75% 25/5/2023 959,668 0.19 EUR 1,450,000 French Republic Government Bond Germany EUR 640,000 Bundesobligation RegS 17/4/2020 OAT RegS 4.25% 25/10/2023 1,973,349 0.38 EUR 530,000 French Republic Government Bond (Zero Coupon) 723,109 0.14 OAT RegS 25/3/2024 EUR 1,320,000 Bundesobligation RegS 0.25% (Zero Coupon) 602,674 0.12 16/10/2020 1,501,808 0.29 EUR 920,000 French Republic Government Bond EUR 720,000 Bundesobligation RegS 9/4/2021 OAT RegS 2.25% 25/5/2024 1,168,032 0.23 (Zero Coupon) 818,679 0.16 EUR 755,000 French Republic Government Bond EUR 510,000 Bundesobligation RegS 8/10/2021 OAT RegS 1.75% 25/11/2024 942,290 0.18 (Zero Coupon) 581,455 0.11 EUR 920,000 French Republic Government Bond EUR 210,000 Bundesobligation RegS 7/10/2022 OAT RegS 0.50% 25/5/2025 1,074,609 0.21 (Zero Coupon) 240,550 0.05 EUR 640,000 French Republic Government Bond EUR 870,000 Bundesobligation RegS 14/4/2023 OAT RegS 6.00% 25/10/2025 1,008,517 0.20 (Zero Coupon) 998,165 0.19 EUR 465,000 French Republic Government Bond EUR 150,000 Bundesobligation RegS 13/10/2023 OAT RegS 1.00% 25/11/2025 560,316 0.11 (Zero Coupon) 172,259 0.03 EUR 1,010,000 French Republic Government Bond EUR 685,000 Bundesrepublik Deutschland OAT RegS 3.50% 25/4/2026 1,423,352 0.28 Bundesanleihe RegS EUR 892,000 French Republic Government Bond 3.00% 4/7/2020 804,131 0.16 OAT RegS 0.50% 25/5/2026 1,040,041 0.20
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [101] iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Germany continued Germany continued EUR 377,000 Bundesrepublik Deutschland EUR 580,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 2.50% 4/1/2021 447,167 0.09 0.25% 15/8/2028* 673,349 0.13 EUR 450,000 Bundesrepublik Deutschland EUR 245,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 3.25% 4/7/2021 549,592 0.11 6.25% 4/1/2030 463,618 0.09 EUR 720,000 Bundesrepublik Deutschland EUR 583,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 2.25% 4/9/2021 864,934 0.17 5.50% 4/1/2031 1,080,363 0.21 EUR 660,000 Bundesrepublik Deutschland EUR 425,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 2.00% 4/1/2022 795,043 0.15 4.75% 4/7/2034 806,093 0.16 EUR 365,000 Bundesrepublik Deutschland EUR 492,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 1.75% 4/7/2022 441,457 0.08 4.00% 4/1/2037 907,703 0.18 EUR 370,000 Bundesrepublik Deutschland EUR 330,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 1.50% 4/9/2022 445,415 0.09 4.25% 4/7/2039 651,582 0.13 EUR 210,000 Bundesrepublik Deutschland EUR 47,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 4.75% 1.50% 15/2/2023* 254,723 0.05 4/7/2040 (traded in Germany) 99,883 0.02 EUR 540,000 Bundesrepublik Deutschland EUR 329,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 4.75% 1.50% 15/5/2023 657,780 0.13 4/7/2040 (traded in United States) 699,179 0.13 EUR 460,000 Bundesrepublik Deutschland EUR 355,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 2.00% 15/8/2023* 574,082 0.11 3.25% 4/7/2042 646,282 0.12 EUR 520,000 Bundesrepublik Deutschland EUR 592,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 6.25% 4/1/2024 773,108 0.15 2.50% 4/7/2044 978,451 0.19 EUR 415,000 Bundesrepublik Deutschland EUR 694,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 1.75% 15/2/2024 517,293 0.10 2.50% 15/8/2046 1,166,656 0.23 EUR 390,000 Bundesrepublik Deutschland EUR 295,000 Bundesrepublik Deutschland Bundesanleihe RegS Bundesanleihe RegS 1.50% 15/5/2024 482,334 0.09 1.25% 15/8/2048* 391,277 0.08 EUR 130,000 Bundesrepublik Deutschland EUR 400,000 Bundesschatzanweisungen RegS Bundesanleihe RegS 12/6/2020 (Zero Coupon) 452,361 0.09 1.00% 15/8/2024 157,372 0.03 EUR 680,000 Bundesrepublik Deutschland 28,092,373 5.45 Bundesanleihe RegS 0.50% 15/2/2025* 804,698 0.16 Ireland EUR 700,000 Bundesrepublik Deutschland EUR 250,000 Ireland Government Bond 4.50% Bundesanleihe RegS 18/4/2020 295,631 0.06 1.00% 15/8/2025 855,629 0.17 EUR 280,000 Ireland Government Bond 5.00% EUR 560,000 Bundesrepublik Deutschland 18/10/2020 341,455 0.07 Bundesanleihe RegS EUR 139,000 Ireland Government Bond 5.40% 0.50% 15/2/2026* 665,226 0.13 13/3/2025 205,777 0.04 EUR 545,000 Bundesrepublik Deutschland EUR 215,000 Ireland Government Bond RegS Bundesanleihe RegS 0.80% 15/3/2022 249,521 0.05 15/8/2026 (Zero Coupon) 625,333 0.12 EUR 181,000 Ireland Government Bond RegS EUR 865,000 Bundesrepublik Deutschland 3.90% 20/3/2023 236,814 0.04 Bundesanleihe RegS EUR 150,000 Ireland Government Bond RegS 0.25% 15/2/2027* 1,010,094 0.19 3.40% 18/3/2024 197,863 0.04 EUR 250,000 Bundesrepublik Deutschland EUR 430,000 Ireland Government Bond RegS Bundesanleihe RegS 1.00% 15/5/2026 511,296 0.10 6.50% 4/7/2027 438,760 0.08 EUR 110,000 Ireland Government Bond RegS EUR 400,000 Bundesrepublik Deutschland 0.90% 15/5/2028 128,929 0.02 Bundesanleihe RegS EUR 355,000 Ireland Government Bond RegS 0.50% 15/8/2027 476,122 0.09 2.40% 15/5/2030 473,768 0.09 EUR 260,000 Bundesrepublik Deutschland EUR 90,000 Ireland Government Bond RegS Bundesanleihe RegS 1.30% 15/5/2033 105,896 0.02 5.625% 4/1/2028 442,632 0.09 EUR 195,000 Ireland Government Bond RegS EUR 350,000 Bundesrepublik Deutschland 1.70% 15/5/2037 238,844 0.05 Bundesanleihe RegS EUR 210,000 Ireland Government Bond RegS 0.50% 15/2/2028 416,285 0.08 2.00% 18/2/2045 268,810 0.05 EUR 330,000 Bundesrepublik Deutschland Bundesanleihe RegS 3,254,604 0.63 4.75% 4/7/2028 540,341 0.10
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[102] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Italy Italy continued EUR 270,000 Italy Buoni Poliennali Del Tesoro EUR 435,000 Italy Buoni Poliennali Del Tesoro 0.70% 1/5/2020 305,107 0.06 RegS ‘144A’ 3.75% 1/5/2021 520,504 0.10 EUR 310,000 Italy Buoni Poliennali Del Tesoro EUR 460,000 Italy Buoni Poliennali Del Tesoro 0.35% 15/6/2020 348,996 0.07 RegS 0.45% 1/6/2021 515,360 0.10 EUR 405,000 Italy Buoni Poliennali Del Tesoro EUR 760,000 Italy Buoni Poliennali Del Tesoro 4.00% 1/9/2020 478,914 0.09 RegS ‘144A’ 3.75% 1/8/2021 912,978 0.18 EUR 680,000 Italy Buoni Poliennali Del Tesoro EUR 380,000 Italy Buoni Poliennali Del Tesoro 0.20% 15/10/2020 763,058 0.15 RegS 0.90% 1/8/2022 423,829 0.08 EUR 770,000 Italy Buoni Poliennali Del Tesoro EUR 332,000 Italy Buoni Poliennali Del Tesoro 0.65% 1/11/2020 869,541 0.17 RegS 5.50% 1/11/2022 428,614 0.08 EUR 260,000 Italy Buoni Poliennali Del Tesoro EUR 533,000 Italy Buoni Poliennali Del Tesoro 3.75% 1/3/2021 310,160 0.06 RegS ‘144A’ 4.75% 1/8/2023 681,386 0.13 EUR 150,000 Italy Buoni Poliennali Del Tesoro EUR 550,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/4/2021 166,765 0.03 RegS 2.45% 1/10/2023 642,621 0.12 EUR 750,000 Italy Buoni Poliennali Del Tesoro EUR 270,000 Italy Buoni Poliennali Del Tesoro 4.75% 1/9/2021 922,046 0.18 RegS 1.45% 15/11/2024 297,595 0.06 EUR 330,000 Italy Buoni Poliennali Del Tesoro EUR 535,000 Italy Buoni Poliennali Del Tesoro 0.35% 1/11/2021 366,769 0.07 RegS ‘144A’ 5.00% 1/3/2025 704,852 0.14 EUR 590,000 Italy Buoni Poliennali Del Tesoro EUR 320,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 685,150 0.13 RegS ‘144A’ 4.50% 1/3/2026 414,855 0.08 EUR 380,000 Italy Buoni Poliennali Del Tesoro EUR 630,000 Italy Buoni Poliennali Del Tesoro 5.00% 1/3/2022 475,775 0.09 RegS 1.25% 1/12/2026 667,248 0.13 EUR 670,000 Italy Buoni Poliennali Del Tesoro EUR 940,000 Italy Buoni Poliennali Del Tesoro 1.20% 1/4/2022 756,846 0.15 RegS 2.00% 1/2/2028 1,030,478 0.20 EUR 345,000 Italy Buoni Poliennali Del Tesoro EUR 410,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/4/2022 391,211 0.08 RegS ‘144A’ 4.75% 1/9/2028* 551,187 0.11 EUR 290,000 Italy Buoni Poliennali Del Tesoro EUR 390,000 Italy Buoni Poliennali Del Tesoro 5.50% 1/9/2022 372,819 0.07 RegS 2.80% 1/12/2028 449,840 0.09 EUR 390,000 Italy Buoni Poliennali Del Tesoro EUR 520,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/9/2022 442,694 0.09 RegS ‘144A’ 3.50% 1/3/2030 628,633 0.12 EUR 250,000 Italy Buoni Poliennali Del Tesoro EUR 575,000 Italy Buoni Poliennali Del Tesoro 0.95% 1/3/2023 276,957 0.05 RegS 6.00% 1/5/2031 857,603 0.17 EUR 390,000 Italy Buoni Poliennali Del Tesoro EUR 75,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/3/2023 431,959 0.08 RegS ‘144A’ 1.65% 1/3/2032 74,429 0.01 EUR 847,000 Italy Buoni Poliennali Del Tesoro EUR 420,000 Italy Buoni Poliennali Del Tesoro 4.50% 1/5/2023 1,067,910 0.21 RegS ‘144A’ 2.45% 1/9/2033 447,600 0.09 EUR 350,000 Italy Buoni Poliennali Del Tesoro EUR 580,000 Italy Buoni Poliennali Del Tesoro 0.65% 15/10/2023 379,735 0.07 RegS ‘144A’ 5.00% 1/8/2034 807,821 0.16 EUR 180,000 Italy Buoni Poliennali Del Tesoro EUR 240,000 Italy Buoni Poliennali Del Tesoro 9.00% 1/11/2023 268,835 0.05 RegS ‘144A’ 3.35% 1/3/2035 279,244 0.05 EUR 520,000 Italy Buoni Poliennali Del Tesoro EUR 693,000 Italy Buoni Poliennali Del Tesoro 4.50% 1/3/2024 661,608 0.13 RegS ‘144A’ 2.25% 1/9/2036 699,785 0.14 EUR 500,000 Italy Buoni Poliennali Del Tesoro EUR 640,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/5/2024 566,332 0.11 RegS ‘144A’ 4.00% 1/2/2037 802,179 0.16 EUR 390,000 Italy Buoni Poliennali Del Tesoro EUR 280,000 Italy Buoni Poliennali Del Tesoro 3.75% 1/9/2024 481,857 0.09 RegS ‘144A’ 2.95% 1/9/2038 301,981 0.06 EUR 870,000 Italy Buoni Poliennali Del Tesoro EUR 522,000 Italy Buoni Poliennali Del Tesoro 2.50% 1/12/2024 1,013,442 0.20 RegS ‘144A’ 5.00% 1/8/2039 729,840 0.14 EUR 290,000 Italy Buoni Poliennali Del Tesoro EUR 395,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/5/2025 316,826 0.06 RegS ‘144A’ 5.00% 1/9/2040 550,362 0.11 EUR 445,000 Italy Buoni Poliennali Del Tesoro EUR 378,000 Italy Buoni Poliennali Del Tesoro 1.50% 1/6/2025 487,935 0.09 RegS ‘144A’ 4.75% 1/9/2044 515,505 0.10 EUR 290,000 Italy Buoni Poliennali Del Tesoro EUR 430,000 Italy Buoni Poliennali Del Tesoro 2.00% 1/12/2025 326,006 0.06 RegS ‘144A’ 3.25% 1/9/2046 472,094 0.09 EUR 365,000 Italy Buoni Poliennali Del Tesoro EUR 405,000 Italy Buoni Poliennali Del Tesoro 1.60% 1/6/2026 397,786 0.08 RegS ‘144A’ 2.70% 1/3/2047 403,247 0.08 EUR 180,000 Italy Buoni Poliennali Del Tesoro EUR 500,000 Italy Buoni Poliennali Del Tesoro 7.25% 1/11/2026 273,481 0.05 RegS ‘144A’ 3.45% 1/3/2048 561,645 0.11 EUR 550,000 Italy Buoni Poliennali Del Tesoro EUR 100,000 Italy Buoni Poliennali Del Tesoro 2.20% 1/6/2027 615,620 0.12 RegS ‘144A’ 3.85% 1/9/2049 117,915 0.02 EUR 810,000 Italy Buoni Poliennali Del Tesoro EUR 165,000 Italy Buoni Poliennali Del Tesoro 2.05% 1/8/2027 894,331 0.17 RegS ‘144A’ 2.80% 1/3/2067 157,038 0.03 EUR 764,000 Italy Buoni Poliennali Del Tesoro 35,993,355 6.98 6.50% 1/11/2027 1,133,301 0.22 EUR 540,000 Italy Buoni Poliennali Del Tesoro 5.25% 1/11/2029 752,133 0.15 Japan EUR 514,000 Italy Buoni Poliennali Del Tesoro JPY 123,000,000 Japan Government Five Year Bond 5.75% 1/2/2033 760,194 0.15 0.10% 20/3/2020 1,112,514 0.22 EUR 500,000 Italy Buoni Poliennali Del Tesoro JPY 72,000,000 Japan Government Five Year Bond RegS 4.25% 1/3/2020 582,988 0.11 0.10% 20/6/2020 651,689 0.13
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [103] iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Japan continued JPY 75,150,000 Japan Government Five Year Bond JPY 75,750,000 Japan Government Ten Year Bond 0.10% 20/9/2020 680,692 0.13 1.00% 20/9/2021 703,382 0.14 JPY 37,000,000 Japan Government Five Year Bond JPY 49,000,000 Japan Government Ten Year Bond 0.10% 20/12/2020 335,373 0.07 1.10% 20/9/2021 456,094 0.09 JPY 95,300,000 Japan Government Five Year Bond JPY 52,000,000 Japan Government Ten Year Bond 0.10% 20/3/2021 864,422 0.17 1.00% 20/12/2021 484,259 0.09 JPY 70,400,000 Japan Government Five Year Bond JPY 53,600,000 Japan Government Ten Year Bond 0.10% 20/6/2021 639,096 0.12 1.10% 20/12/2021 500,472 0.10 JPY 217,900,000 Japan Government Five Year Bond JPY 69,000,000 Japan Government Ten Year Bond 0.10% 20/9/2021 1,979,605 0.38 0.90% 20/3/2022 642,618 0.12 JPY 15,000,000 Japan Government Five Year Bond JPY 80,000,000 Japan Government Ten Year Bond 0.10% 20/12/2021 136,375 0.03 1.00% 20/3/2022 747,248 0.15 JPY 20,000,000 Japan Government Five Year Bond JPY 56,450,000 Japan Government Ten Year Bond 0.10% 20/3/2022 181,993 0.04 0.80% 20/6/2022 525,617 0.10 JPY 30,000,000 Japan Government Five Year Bond JPY 34,200,000 Japan Government Ten Year Bond 0.10% 20/6/2022 273,208 0.05 0.90% 20/6/2022 319,441 0.06 JPY 103,500,000 Japan Government Five Year Bond JPY 107,550,000 Japan Government Ten Year Bond 0.10% 20/9/2022 943,398 0.18 0.80% 20/9/2022 1,003,839 0.19 JPY 96,150,000 Japan Government Five Year Bond JPY 29,000,000 Japan Government Ten Year Bond 0.10% 20/12/2022 877,240 0.17 0.70% 20/12/2022 270,416 0.05 JPY 127,000,000 Japan Government Five Year Bond JPY 124,950,000 Japan Government Ten Year Bond 0.10% 20/3/2023 1,159,564 0.23 0.80% 20/12/2022 1,169,215 0.23 JPY 80,000,000 Japan Government Five Year Bond JPY 85,400,000 Japan Government Ten Year Bond 0.10% 20/6/2023 731,019 0.14 0.60% 20/3/2023 794,848 0.15 JPY 35,850,000 Japan Government Five Year Bond JPY 103,450,000 Japan Government Ten Year Bond 0.10% 20/12/2023 328,024 0.06 0.80% 20/6/2023 972,938 0.19 JPY 12,950,000 Japan Government Forty Year JPY 60,000,000 Japan Government Ten Year Bond Bond 2.40% 20/3/2048 176,494 0.03 0.80% 20/9/2023 565,688 0.11 JPY 51,350,000 Japan Government Forty Year JPY 96,050,000 Japan Government Ten Year Bond Bond 2.20% 20/3/2049 680,070 0.13 0.60% 20/12/2023 899,547 0.17 JPY 34,000,000 Japan Government Forty Year JPY 34,550,000 Japan Government Ten Year Bond Bond 2.20% 20/3/2050 453,957 0.09 0.60% 20/3/2024 324,156 0.06 JPY 51,150,000 Japan Government Forty Year JPY 22,000,000 Japan Government Ten Year Bond Bond 2.20% 20/3/2051 688,249 0.13 0.60% 20/6/2024 206,824 0.04 JPY 42,550,000 Japan Government Forty Year JPY 68,200,000 Japan Government Ten Year Bond Bond 2.00% 20/3/2052 553,778 0.11 0.50% 20/9/2024 639,148 0.12 JPY 32,050,000 Japan Government Forty Year JPY 11,900,000 Japan Government Ten Year Bond Bond 1.90% 20/3/2053 411,254 0.08 0.30% 20/12/2024 110,479 0.02 JPY 39,650,000 Japan Government Forty Year JPY 41,500,000 Japan Government Ten Year Bond Bond 1.70% 20/3/2054 488,936 0.10 0.50% 20/12/2024 389,540 0.08 JPY 30,250,000 Japan Government Forty Year JPY 30,200,000 Japan Government Ten Year Bond Bond 1.40% 20/3/2055 348,136 0.07 0.40% 20/3/2025 282,383 0.05 JPY 39,050,000 Japan Government Forty Year JPY 92,000,000 Japan Government Ten Year Bond Bond 0.40% 20/3/2056 333,307 0.06 0.40% 20/6/2025 861,633 0.17 JPY 42,900,000 Japan Government Forty Year JPY 28,000,000 Japan Government Ten Year Bond Bond 0.90% 20/3/2057 430,439 0.08 0.40% 20/9/2025 262,676 0.05 JPY 32,600,000 Japan Government Forty Year JPY 39,600,000 Japan Government Ten Year Bond Bond 0.80% 20/3/2058 316,877 0.06 0.10% 20/6/2026 365,242 0.07 JPY 55,100,000 Japan Government Ten Year Bond JPY 43,000,000 Japan Government Ten Year Bond 1.30% 20/3/2020 504,207 0.10 0.10% 20/9/2026 396,840 0.08 JPY 132,000,000 Japan Government Ten Year Bond JPY 32,500,000 Japan Government Ten Year Bond 1.40% 20/3/2020 1,208,890 0.23 0.10% 20/12/2026 299,959 0.06 JPY 79,550,000 Japan Government Ten Year Bond JPY 23,000,000 Japan Government Ten Year Bond 1.10% 20/6/2020 728,733 0.14 0.10% 20/3/2027 212,333 0.04 JPY 97,000,000 Japan Government Ten Year Bond JPY 50,000,000 Japan Government Ten Year Bond 0.80% 20/9/2020 887,625 0.17 0.10% 20/6/2027 461,548 0.09 JPY 53,550,000 Japan Government Ten Year Bond JPY 43,750,000 Japan Government Ten Year Bond 1.00% 20/9/2020 491,422 0.10 0.10% 20/9/2027 403,726 0.08 JPY 157,000,000 Japan Government Ten Year Bond JPY 32,150,000 Japan Government Ten Year Bond 1.20% 20/12/2020 1,449,827 0.28 0.10% 20/12/2027 296,487 0.06 JPY 82,000,000 Japan Government Ten Year Bond JPY 79,250,000 Japan Government Ten Year Bond 1.10% 20/3/2021 758,329 0.15 0.10% 20/3/2028 730,306 0.14 JPY 66,850,000 Japan Government Ten Year Bond JPY 4,400,000 Japan Government Ten Year Bond 1.30% 20/3/2021 620,578 0.12 0.10% 20/6/2028 40,509 0.01 JPY 27,750,000 Japan Government Ten Year Bond JPY 140,200,000 Japan Government Ten Year Bond 1.10% 20/6/2021 257,473 0.05 0.10% 20/9/2028 1,289,571 0.25 JPY 41,400,000 Japan Government Ten Year Bond JPY 25,000,000 Japan Government Thirty Year 1.20% 20/6/2021 384,953 0.07 Bond 2.40% 20/11/2031 292,625 0.06
The notes on pages 143 to 149 form an integral part of these financial statements.
[104] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Japan continued JPY 10,000,000 Japan Government Thirty Year JPY 23,050,000 Japan Government Thirty Year Bond 1.80% 22/11/2032 111,224 0.02 Bond 1.40% 20/9/2045 256,476 0.05 JPY 21,000,000 Japan Government Thirty Year JPY 25,000,000 Japan Government Thirty Year Bond 2.00% 20/12/2033 241,095 0.05 Bond 1.40% 20/12/2045 278,352 0.05 JPY 22,100,000 Japan Government Thirty Year JPY 31,550,000 Japan Government Thirty Year Bond 2.40% 20/3/2034 266,001 0.05 Bond 0.80% 20/3/2046 308,272 0.06 JPY 30,000,000 Japan Government Thirty Year JPY 34,400,000 Japan Government Thirty Year Bond 2.50% 20/6/2034 365,910 0.07 Bond 0.30% 20/6/2046 296,557 0.06 JPY 22,450,000 Japan Government Thirty Year JPY 36,300,000 Japan Government Thirty Year Bond 2.50% 20/9/2034 274,563 0.05 Bond 0.50% 20/9/2046 329,373 0.06 JPY 28,100,000 Japan Government Thirty Year JPY 34,300,000 Japan Government Thirty Year Bond 2.40% 20/12/2034 340,876 0.07 Bond 0.60% 20/12/2046 318,778 0.06 JPY 20,000,000 Japan Government Thirty Year JPY 4,950,000 Japan Government Thirty Year Bond 2.30% 20/3/2035 240,383 0.05 Bond 0.80% 20/3/2047 48,332 0.01 JPY 17,150,000 Japan Government Thirty Year JPY 29,100,000 Japan Government Thirty Year Bond 2.30% 20/6/2035 206,593 0.04 Bond 0.80% 20/6/2047 283,990 0.06 JPY 6,000,000 Japan Government Thirty Year JPY 35,850,000 Japan Government Thirty Year Bond 2.50% 20/9/2035 74,208 0.01 Bond 0.80% 20/9/2047 349,810 0.07 JPY 73,500,000 Japan Government Thirty Year JPY 34,500,000 Japan Government Thirty Year Bond 2.30% 20/12/2035 889,627 0.17 Bond 0.80% 20/12/2047 336,578 0.07 JPY 20,850,000 Japan Government Thirty Year JPY 52,250,000 Japan Government Thirty Year Bond 2.50% 20/3/2036 259,038 0.05 Bond 0.80% 20/3/2048 509,254 0.10 JPY 36,000,000 Japan Government Thirty Year JPY 56,400,000 Japan Government Thirty Year Bond 2.50% 20/6/2036 448,647 0.09 Bond 0.70% 20/6/2048 536,374 0.10 JPY 19,000,000 Japan Government Thirty Year JPY 41,950,000 Japan Government Thirty Year Bond 2.50% 20/9/2036 237,330 0.05 Bond 0.70% 20/12/2048 398,121 0.08 JPY 19,400,000 Japan Government Thirty Year JPY 65,000,000 Japan Government Twenty Year Bond 2.30% 20/12/2036 236,793 0.05 Bond 2.10% 21/9/2021 619,586 0.12 JPY 35,050,000 Japan Government Thirty Year JPY 10,000,000 Japan Government Twenty Year Bond 2.50% 20/9/2037 441,788 0.09 Bond 1.90% 20/9/2022 96,815 0.02 JPY 35,900,000 Japan Government Thirty Year JPY 28,000,000 Japan Government Twenty Year Bond 2.50% 20/3/2038 454,377 0.09 Bond 1.90% 20/9/2023 276,472 0.05 JPY 51,000,000 Japan Government Thirty Year JPY 76,400,000 Japan Government Twenty Year Bond 2.40% 20/9/2038 640,162 0.12 Bond 1.80% 20/12/2023 754,693 0.15 JPY 50,600,000 Japan Government Thirty Year JPY 7,000,000 Japan Government Twenty Year Bond 2.30% 20/3/2039 628,765 0.12 Bond 1.90% 20/3/2024 69,774 0.01 JPY 61,700,000 Japan Government Thirty Year JPY 4,000,000 Japan Government Twenty Year Bond 2.20% 20/9/2039 758,763 0.15 Bond 2.10% 20/3/2024 40,233 0.01 JPY 64,350,000 Japan Government Thirty Year JPY 54,200,000 Japan Government Twenty Year Bond 2.30% 20/3/2040 806,777 0.16 Bond 2.20% 20/3/2024 547,603 0.11 JPY 74,700,000 Japan Government Thirty Year JPY 11,150,000 Japan Government Twenty Year Bond 2.00% 20/9/2040 899,021 0.17 Bond 2.40% 20/6/2024 114,332 0.02 JPY 70,950,000 Japan Government Thirty Year JPY 31,000,000 Japan Government Twenty Year Bond 2.20% 20/3/2041 883,699 0.17 Bond 2.10% 20/9/2024 315,176 0.06 JPY 65,200,000 Japan Government Thirty Year JPY 30,000,000 Japan Government Twenty Year Bond 2.00% 20/9/2041 789,010 0.15 Bond 2.00% 20/12/2024 305,022 0.06 JPY 77,100,000 Japan Government Thirty Year JPY 11,100,000 Japan Government Twenty Year Bond 2.00% 20/3/2042 937,850 0.18 Bond 1.90% 20/3/2025 112,809 0.02 JPY 86,350,000 Japan Government Thirty Year JPY 5,000,000 Japan Government Twenty Year Bond 1.90% 20/9/2042 1,037,314 0.20 Bond 2.10% 20/3/2025 51,360 0.01 JPY 65,400,000 Japan Government Thirty Year JPY 10,000,000 Japan Government Twenty Year Bond 1.80% 20/3/2043 774,014 0.15 Bond 1.90% 20/6/2025 102,142 0.02 JPY 34,050,000 Japan Government Thirty Year JPY 5,500,000 Japan Government Twenty Year Bond 1.90% 20/6/2043 410,837 0.08 Bond 2.00% 20/6/2025 56,484 0.01 JPY 29,550,000 Japan Government Thirty Year JPY 12,000,000 Japan Government Twenty Year Bond 1.80% 20/9/2043 351,036 0.07 Bond 2.10% 20/6/2025 123,920 0.02 JPY 32,000,000 Japan Government Thirty Year JPY 6,000,000 Japan Government Twenty Year Bond 1.70% 20/12/2043 374,095 0.07 Bond 2.00% 20/9/2025 61,916 0.01 JPY 41,500,000 Japan Government Thirty Year JPY 20,000,000 Japan Government Twenty Year Bond 1.70% 20/3/2044 485,610 0.09 Bond 2.10% 20/9/2025 207,570 0.04 JPY 32,050,000 Japan Government Thirty Year JPY 8,500,000 Japan Government Twenty Year Bond 1.70% 20/6/2044 375,778 0.07 Bond 2.00% 20/12/2025 88,143 0.02 JPY 30,300,000 Japan Government Thirty Year JPY 16,500,000 Japan Government Twenty Year Bond 1.70% 20/9/2044 355,592 0.07 Bond 2.10% 20/3/2026 173,006 0.03 JPY 21,700,000 Japan Government Thirty Year JPY 20,500,000 Japan Government Twenty Year Bond 1.50% 20/12/2044 245,511 0.05 Bond 2.30% 20/3/2026 217,527 0.04 JPY 39,850,000 Japan Government Thirty Year JPY 32,400,000 Japan Government Twenty Year Bond 1.50% 20/3/2045 451,547 0.09 Bond 2.20% 20/9/2026 345,163 0.07 JPY 20,400,000 Japan Government Thirty Year JPY 53,000,000 Japan Government Twenty Year Bond 1.60% 20/6/2045 235,925 0.05 Bond 2.30% 20/9/2026 568,493 0.11
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [105] iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Japan continued JPY 24,000,000 Japan Government Twenty Year JPY 54,000,000 Japan Government Twenty Year Bond 2.10% 20/12/2026 255,229 0.05 Bond 1.80% 20/12/2031 595,663 0.12 JPY 55,000,000 Japan Government Twenty Year JPY 30,000,000 Japan Government Twenty Year Bond 2.00% 20/3/2027 583,809 0.11 Bond 1.60% 20/3/2032 324,687 0.06 JPY 48,200,000 Japan Government Twenty Year JPY 8,000,000 Japan Government Twenty Year Bond 2.10% 20/3/2027 514,879 0.10 Bond 1.70% 20/3/2032 87,468 0.02 JPY 48,550,000 Japan Government Twenty Year JPY 77,000,000 Japan Government Twenty Year Bond 2.30% 20/6/2027 528,097 0.10 Bond 1.80% 20/3/2032 851,317 0.17 JPY 13,000,000 Japan Government Twenty Year JPY 22,000,000 Japan Government Twenty Year Bond 2.10% 20/9/2027 140,004 0.03 Bond 1.50% 20/6/2032 235,969 0.05 JPY 25,000,000 Japan Government Twenty Year JPY 4,000,000 Japan Government Twenty Year Bond 2.20% 20/9/2027 271,162 0.05 Bond 1.60% 20/6/2032 43,374 0.01 JPY 31,000,000 Japan Government Twenty Year JPY 22,000,000 Japan Government Twenty Year Bond 2.10% 20/12/2027 335,108 0.07 Bond 1.70% 20/6/2032 241,175 0.05 JPY 28,800,000 Japan Government Twenty Year JPY 58,550,000 Japan Government Twenty Year Bond 2.20% 20/3/2028 314,874 0.06 Bond 1.70% 20/9/2032 643,150 0.12 JPY 12,000,000 Japan Government Twenty Year JPY 43,500,000 Japan Government Twenty Year Bond 2.40% 20/3/2028 133,096 0.03 Bond 1.70% 20/12/2032 478,745 0.09 JPY 13,000,000 Japan Government Twenty Year JPY 18,000,000 Japan Government Twenty Year Bond 2.10% 20/6/2028 141,421 0.03 Bond 1.80% 20/12/2032 200,292 0.04 JPY 20,500,000 Japan Government Twenty Year JPY 41,300,000 Japan Government Twenty Year Bond 2.30% 20/6/2028 226,455 0.04 Bond 1.50% 20/3/2033 445,086 0.09 JPY 21,000,000 Japan Government Twenty Year JPY 29,900,000 Japan Government Twenty Year Bond 2.40% 20/6/2028 233,741 0.05 Bond 1.60% 20/3/2033 325,928 0.06 JPY 48,300,000 Japan Government Twenty Year JPY 56,500,000 Japan Government Twenty Year Bond 2.10% 20/9/2028 527,634 0.10 Bond 1.70% 20/6/2033 624,056 0.12 JPY 18,000,000 Japan Government Twenty Year JPY 44,850,000 Japan Government Twenty Year Bond 1.90% 20/12/2028 194,068 0.04 Bond 1.70% 20/9/2033 496,293 0.10 JPY 24,050,000 Japan Government Twenty Year JPY 27,000,000 Japan Government Twenty Year Bond 2.10% 20/12/2028 263,414 0.05 Bond 1.60% 20/12/2033 295,752 0.06 JPY 50,500,000 Japan Government Twenty Year JPY 49,000,000 Japan Government Twenty Year Bond 1.90% 20/3/2029 545,907 0.11 Bond 1.50% 20/3/2034 530,894 0.10 JPY 60,000,000 Japan Government Twenty Year JPY 44,350,000 Japan Government Twenty Year Bond 2.10% 20/3/2029 659,470 0.13 Bond 1.50% 20/6/2034 480,879 0.09 JPY 65,000,000 Japan Government Twenty Year JPY 62,200,000 Japan Government Twenty Year Bond 2.10% 20/6/2029 716,879 0.14 Bond 1.40% 20/9/2034 666,760 0.13 JPY 70,950,000 Japan Government Twenty Year JPY 31,300,000 Japan Government Twenty Year Bond 2.20% 20/6/2029 789,086 0.15 Bond 1.20% 20/12/2034 327,243 0.06 JPY 28,700,000 Japan Government Twenty Year JPY 62,250,000 Japan Government Twenty Year Bond 2.10% 20/9/2029 317,460 0.06 Bond 1.20% 20/3/2035 651,178 0.13 JPY 64,850,000 Japan Government Twenty Year JPY 31,350,000 Japan Government Twenty Year Bond 2.10% 20/12/2029 719,723 0.14 Bond 1.30% 20/6/2035 332,573 0.06 JPY 80,000,000 Japan Government Twenty Year JPY 42,600,000 Japan Government Twenty Year Bond 2.10% 20/3/2030 890,723 0.17 Bond 1.20% 20/9/2035 446,010 0.09 JPY 19,000,000 Japan Government Twenty Year JPY 72,800,000 Japan Government Twenty Year Bond 1.60% 20/6/2030 202,613 0.04 Bond 1.00% 20/12/2035 741,035 0.14 JPY 10,200,000 Japan Government Twenty Year JPY 41,050,000 Japan Government Twenty Year Bond 1.80% 20/6/2030 110,840 0.02 Bond 0.40% 20/3/2036 380,782 0.07 JPY 35,000,000 Japan Government Twenty Year JPY 78,450,000 Japan Government Twenty Year Bond 1.80% 20/9/2030 381,573 0.07 Bond 0.20% 20/6/2036 702,937 0.14 JPY 29,100,000 Japan Government Twenty Year JPY 39,100,000 Japan Government Twenty Year Bond 1.90% 20/9/2030 320,280 0.06 Bond 0.50% 20/9/2036 367,778 0.07 JPY 48,050,000 Japan Government Twenty Year JPY 65,500,000 Japan Government Twenty Year Bond 2.00% 20/12/2030 535,043 0.10 Bond 0.60% 20/12/2036 625,625 0.12 JPY 38,050,000 Japan Government Twenty Year JPY 71,200,000 Japan Government Twenty Year Bond 2.10% 20/12/2030 427,715 0.08 Bond 0.70% 20/3/2037 691,015 0.13 JPY 31,700,000 Japan Government Twenty Year JPY 56,600,000 Japan Government Twenty Year Bond 2.00% 20/3/2031 353,971 0.07 Bond 0.60% 20/6/2037 539,593 0.10 JPY 22,300,000 Japan Government Twenty Year JPY 85,000,000 Japan Government Twenty Year Bond 2.20% 20/3/2031 253,817 0.05 Bond 0.60% 20/9/2037 809,495 0.16 JPY 25,000,000 Japan Government Twenty Year JPY 46,200,000 Japan Government Twenty Year Bond 1.80% 20/6/2031 274,464 0.05 Bond 0.60% 20/12/2037 439,503 0.09 JPY 38,000,000 Japan Government Twenty Year JPY 77,650,000 Japan Government Twenty Year Bond 1.90% 20/6/2031 421,338 0.08 Bond 0.50% 20/3/2038 725,339 0.14 JPY 7,000,000 Japan Government Twenty Year JPY 85,100,000 Japan Government Twenty Year Bond 1.70% 20/9/2031 76,252 0.02 Bond 0.50% 20/6/2038 793,833 0.15 JPY 27,650,000 Japan Government Twenty Year JPY 33,050,000 Japan Government Two Year Bond Bond 1.80% 20/9/2031 304,293 0.06 0.10% 15/3/2020 298,908 0.06 JPY 65,000,000 Japan Government Twenty Year JPY 40,000,000 Japan Government Two Year Bond Bond 1.70% 20/12/2031 709,539 0.14 0.10% 15/4/2020 361,847 0.07
The notes on pages 143 to 149 form an integral part of these financial statements.
[106] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Norway continued JPY 67,000,000 Japan Government Two Year Bond NOK 2,570,000 Norway Government Bond RegS 0.10% 15/5/2020 606,230 0.12 ‘144A’ 3.00% 14/3/2024* 321,595 0.06 JPY 30,550,000 Japan Government Two Year Bond NOK 30,000 Norway Government Bond RegS 0.10% 1/2/2021 276,973 0.05 ‘144A’ 1.75% 13/3/2025 3,552 0.00 98,376,980 19.07 NOK 1,560,000 Norway Government Bond RegS ‘144A’ 1.50% 19/2/2026 181,666 0.04 NOK 700,000 Norway Government Bond RegS Mexico ‘144A’ 1.75% 17/2/2027 82,777 0.02 MXN 4,000,000 Mexican Bonos 8.00% 11/6/2020 207,541 0.04 NOK 1,000,000 Norway Government Bond RegS MXN 6,750,000 Mexican Bonos 6.50% 10/6/2021 340,109 0.07 ‘144A’ 2.00% 26/4/2028 120,485 0.02 MXN 6,200,000 Mexican Bonos 6.50% 9/6/2022 309,171 0.06 MXN 4,000,000 Mexican Bonos 8.00% 7/12/2023 208,421 0.04 853,138 0.17 MXN 10,150,000 Mexican Bonos 10.00% 5/12/2024 576,647 0.11 MXN 4,000,000 Mexican Bonos 5.75% 5/3/2026 182,754 0.04 Poland MXN 6,400,000 Mexican Bonos 7.50% 3/6/2027 320,895 0.06 PLN 1,470,000 Republic of Poland Government MXN 1,800,000 Mexican Bonos 8.50% 31/5/2029 95,805 0.02 Bond 1.50% 25/4/2020 382,582 0.07 MXN 2,350,000 Mexican Bonos 7.75% 29/5/2031 117,731 0.02 PLN 1,150,000 Republic of Poland Government MXN 7,500,000 Mexican Bonos 7.75% 23/11/2034 370,104 0.07 Bond 1.75% 25/7/2021 300,529 0.06 MXN 3,200,000 Mexican Bonos 8.50% 18/11/2038 166,797 0.03 PLN 2,430,000 Republic of Poland Government MXN 5,000,000 Mexican Bonos 7.75% 13/11/2042 240,525 0.05 Bond 2.25% 25/4/2022 641,912 0.13 3,136,500 0.61 PLN 710,000 Republic of Poland Government Bond 4.00% 25/10/2023 200,460 0.04 PLN 450,000 Republic of Poland Government Netherlands Bond 3.25% 25/7/2025 123,435 0.02 EUR 30,000 Netherlands Government Bond PLN 1,750,000 Republic of Poland Government 3.75% 15/1/2023 39,189 0.01 Bond 2.50% 25/7/2026 455,044 0.09 EUR 245,000 Netherlands Government Bond PLN 1,210,000 Republic of Poland Government 5.50% 15/1/2028 409,888 0.08 Bond 2.75% 25/4/2028 315,830 0.06 EUR 110,000 Netherlands Government Bond RegS ‘144A’ 3.50% 15/7/2020 130,058 0.03 2,419,792 0.47 EUR 490,000 Netherlands Government Bond RegS ‘144A’ 3.25% 15/7/2021 599,089 0.12 Singapore EUR 685,000 Netherlands Government Bond SGD 50,000 Singapore Government Bond RegS ‘144A’ 15/1/2022 3.25% 1/9/2020 37,591 0.01 (Zero Coupon) 780,866 0.15 SGD 90,000 Singapore Government Bond EUR 511,000 Netherlands Government Bond 2.25% 1/6/2021 66,880 0.01 RegS ‘144A’ 2.25% 15/7/2022 626,720 0.12 SGD 70,000 Singapore Government Bond EUR 210,000 Netherlands Government Bond 1.25% 1/10/2021 50,814 0.01 RegS ‘144A’ 7.50% 15/1/2023 308,076 0.06 SGD 210,000 Singapore Government Bond EUR 254,000 Netherlands Government Bond 3.125% 1/9/2022 161,121 0.03 RegS ‘144A’ 1.75% 15/7/2023 312,137 0.06 SGD 340,000 Singapore Government Bond EUR 360,000 Netherlands Government Bond 2.75% 1/7/2023 259,257 0.05 RegS ‘144A’ 15/1/2024 SGD 250,000 Singapore Government Bond (Zero Coupon) 411,312 0.08 3.00% 1/9/2024 194,320 0.04 EUR 380,000 Netherlands Government Bond SGD 350,000 Singapore Government Bond RegS ‘144A’ 2.00% 15/7/2024 480,040 0.09 2.125% 1/6/2026 260,140 0.05 EUR 245,000 Netherlands Government Bond SGD 25,000 Singapore Government Bond RegS ‘144A’ 0.25% 15/7/2025 283,865 0.05 3.50% 1/3/2027 20,408 0.00 EUR 320,000 Netherlands Government Bond SGD 10,000 Singapore Government Bond RegS ‘144A’ 0.50% 15/7/2026 376,691 0.07 2.875% 1/7/2029 7,884 0.00 EUR 375,000 Netherlands Government Bond SGD 200,000 Singapore Government Bond RegS ‘144A’ 0.75% 15/7/2027 448,870 0.09 2.875% 1/9/2030 157,597 0.03 EUR 535,000 Netherlands Government Bond SGD 170,000 Singapore Government Bond RegS ‘144A’ 0.75% 15/7/2028 640,244 0.12 3.375% 1/9/2033 141,737 0.03 EUR 282,000 Netherlands Government Bond SGD 90,000 Singapore Government Bond RegS ‘144A’ 2.50% 15/1/2033 410,714 0.08 2.75% 1/4/2042 69,231 0.01 EUR 463,000 Netherlands Government Bond SGD 100,000 Singapore Government Bond RegS ‘144A’ 4.00% 15/1/2037 839,255 0.16 2.75% 1/3/2046 76,820 0.02 EUR 346,000 Netherlands Government Bond 1,503,800 0.29 RegS ‘144A’ 3.75% 15/1/2042 656,245 0.13 EUR 333,000 Netherlands Government Bond South Africa RegS ‘144A’ 2.75% 15/1/2047 576,236 0.11 ZAR 1,645,000 Republic of South Africa Government 8,329,495 1.61 Bond 7.75% 28/2/2023 113,653 0.02 ZAR 3,300,000 Republic of South Africa Government Norway Bond 10.50% 21/12/2026 252,019 0.05 NOK 440,000 Norway Government Bond RegS ZAR 5,550,000 Republic of South Africa Government ‘144A’ 3.75% 25/5/2021 53,706 0.01 Bond 8.00% 31/1/2030 353,257 0.07 NOK 750,000 Norway Government Bond RegS ZAR 2,601,000 Republic of South Africa Government ‘144A’ 2.00% 24/5/2023 89,357 0.02 Bond 7.00% 28/2/2031 150,508 0.03
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [107] iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
South Africa continued Spain continued ZAR 3,540,000 Republic of South Africa Government EUR 490,000 Spain Government Bond RegS Bond 8.25% 31/3/2032 223,974 0.04 ‘144A’ 1.40% 30/7/2028 570,938 0.11 ZAR 2,500,000 Republic of South Africa Government EUR 575,000 Spain Government Bond RegS Bond 8.875% 28/2/2035 162,645 0.03 ‘144A’ 5.15% 31/10/2028 890,947 0.17 ZAR 3,180,000 Republic of South Africa Government EUR 270,000 Spain Government Bond RegS Bond 6.25% 31/3/2036* 159,480 0.03 ‘144A’ 1.45% 30/4/2029 313,581 0.06 ZAR 4,510,000 Republic of South Africa Government EUR 520,000 Spain Government Bond RegS Bond 8.50% 31/1/2037 280,611 0.06 ‘144A’ 1.95% 30/7/2030 628,645 0.12 ZAR 2,050,000 Republic of South Africa Government EUR 414,000 Spain Government Bond RegS Bond 6.50% 28/2/2041 100,310 0.02 ‘144A’ 2.35% 30/7/2033 513,325 0.10 ZAR 4,250,000 Republic of South Africa Government EUR 435,000 Spain Government Bond RegS Bond 8.75% 31/1/2044 266,194 0.05 ‘144A’ 4.20% 31/1/2037 675,149 0.13 ZAR 2,250,000 Republic of South Africa Government EUR 455,000 Spain Government Bond RegS Bond 8.75% 28/2/2048 140,966 0.03 ‘144A’ 4.90% 30/7/2040 778,466 0.15 2,203,617 0.43 EUR 445,000 Spain Government Bond RegS ‘144A’ 4.70% 30/7/2041 747,053 0.14 EUR 318,000 Spain Government Bond RegS Spain ‘144A’ 5.15% 31/10/2044 573,712 0.11 EUR 500,000 Spain Government Bond 1.15% EUR 405,000 Spain Government Bond RegS 30/7/2020 572,782 0.11 ‘144A’ 2.90% 31/10/2046 524,078 0.10 EUR 540,000 Spain Government Bond 0.05% EUR 220,000 Spain Government Bond RegS 31/1/2021 610,329 0.12 ‘144A’ 2.70% 31/10/2048 271,788 0.05 EUR 630,000 Spain Government Bond 0.75% EUR 220,000 Spain Government Bond RegS 30/7/2021 724,379 0.14 ‘144A’ 3.45% 30/7/2066 308,240 0.06 EUR 750,000 Spain Government Bond 0.45% 31/10/2022 859,119 0.17 23,500,543 4.55 EUR 430,000 Spain Government Bond 0.35% 30/7/2023 489,018 0.09 Sweden EUR 445,000 Spain Government Bond 6.00% SEK 845,000 Sweden Government Bond 5.00% 31/1/2029 734,070 0.14 1/12/2020* 99,558 0.02 EUR 623,000 Spain Government Bond 5.75% SEK 2,610,000 Sweden Government Bond 3.50% 30/7/2032 1,072,702 0.21 1/6/2022 316,260 0.06 EUR 200,000 Spain Government Bond RegS SEK 1,000,000 Sweden Government Bond 2.50% ‘144A’ 4.00% 30/4/2020 235,111 0.05 12/5/2025* 125,027 0.02 EUR 600,000 Spain Government Bond RegS SEK 1,000,000 Sweden Government Bond 0.75% ‘144A’ 4.85% 31/10/2020 729,634 0.14 12/5/2028* 113,482 0.02 EUR 450,000 Spain Government Bond RegS SEK 1,110,000 Sweden Government Bond 3.50% ‘144A’ 5.50% 30/4/2021 566,220 0.11 30/3/2039 179,306 0.04 EUR 600,000 Spain Government Bond RegS SEK 1,890,000 Sweden Government Bond RegS ‘144A’ 5.85% 31/1/2022 789,612 0.15 ‘144A’ 1.50% 13/11/2023* 220,506 0.04 EUR 620,000 Spain Government Bond RegS SEK 1,370,000 Sweden Government Bond RegS ‘144A’ 5.40% 31/1/2023 842,138 0.16 1.00% 12/11/2026* 158,406 0.03 EUR 725,000 Spain Government Bond RegS SEK 1,260,000 Sweden Government Bond RegS ‘144A’ 4.40% 31/10/2023 973,879 0.19 ‘144A’ 0.75% 12/11/2029 142,041 0.03 EUR 440,000 Spain Government Bond RegS 1,354,586 0.26 ‘144A’ 4.80% 31/1/2024 604,362 0.12 EUR 440,000 Spain Government Bond RegS United Kingdom ‘144A’ 3.80% 30/4/2024 583,480 0.11 GBP 535,000 United Kingdom Gilt RegS 2.00% EUR 605,000 Spain Government Bond RegS 22/7/2020 707,700 0.14 ‘144A’ 2.75% 31/10/2024 771,070 0.15 GBP 575,000 United Kingdom Gilt RegS 3.75% EUR 460,000 Spain Government Bond RegS 7/9/2020* 780,427 0.15 ‘144A’ 1.60% 30/4/2025 553,997 0.11 GBP 1,090,000 United Kingdom Gilt RegS 1.50% EUR 360,000 Spain Government Bond RegS 22/1/2021 1,438,924 0.28 ‘144A’ 4.65% 30/7/2025 510,221 0.10 GBP 50,000 United Kingdom Gilt RegS 8.00% EUR 450,000 Spain Government Bond RegS 7/6/2021 75,420 0.01 ‘144A’ 2.15% 31/10/2025 559,005 0.11 GBP 430,000 United Kingdom Gilt RegS 3.75% EUR 360,000 Spain Government Bond RegS 7/9/2021 601,012 0.12 ‘144A’ 1.95% 30/4/2026 441,677 0.09 GBP 135,000 United Kingdom Gilt RegS 4.00% EUR 880,000 Spain Government Bond RegS 7/3/2022 192,652 0.04 ‘144A’ 5.90% 30/7/2026 1,359,294 0.26 GBP 890,000 United Kingdom Gilt RegS 0.50% EUR 650,000 Spain Government Bond RegS 22/7/2022* 1,151,556 0.22 ‘144A’ 1.30% 31/10/2026 762,989 0.15 GBP 510,000 United Kingdom Gilt RegS 1.75% EUR 340,000 Spain Government Bond RegS 7/9/2022 687,425 0.13 ‘144A’ 1.50% 30/4/2027 402,887 0.08 GBP 560,000 United Kingdom Gilt RegS 0.75% EUR 345,000 Spain Government Bond RegS 22/7/2023 729,306 0.14 ‘144A’ 1.45% 31/10/2027 406,561 0.08 GBP 530,000 United Kingdom Gilt RegS 2.25% EUR 470,000 Spain Government Bond RegS 7/9/2023 735,574 0.14 ‘144A’ 1.40% 30/4/2028 550,085 0.11
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[108] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United Kingdom continued United States continued GBP 310,000 United Kingdom Gilt RegS 1.00% USD 270,000 United States Treasury Bond 22/4/2024 407,845 0.08 6.125% 15/11/2027 348,168 0.07 GBP 315,000 United Kingdom Gilt RegS 2.75% USD 100,000 United States Treasury Bond 7/9/2024 453,264 0.09 5.50% 15/8/2028 125,814 0.02 GBP 400,000 United Kingdom Gilt RegS 5.00% USD 40,000 United States Treasury Bond 7/3/2025 647,525 0.13 5.25% 15/11/2028 49,659 0.01 GBP 155,000 United Kingdom Gilt RegS 2.00% USD 70,000 United States Treasury Bond 7/9/2025 217,015 0.04 5.25% 15/2/2029 87,281 0.02 GBP 450,000 United Kingdom Gilt RegS 1.50% USD 110,000 United States Treasury Bond 22/7/2026* 613,056 0.12 6.25% 15/5/2030 150,541 0.03 GBP 640,000 United Kingdom Gilt RegS 1.25% USD 240,000 United States Treasury Bond 22/7/2027 855,080 0.17 5.375% 15/2/2031 311,817 0.06 GBP 310,000 United Kingdom Gilt RegS 4.25% USD 254,000 United States Treasury Bond 7/12/2027 516,191 0.10 4.50% 15/2/2036 321,598 0.06 GBP 140,000 United Kingdom Gilt RegS 1.625% USD 155,000 United States Treasury Bond 22/10/2028 192,344 0.04 5.00% 15/5/2037 209,432 0.04 GBP 355,000 United Kingdom Gilt RegS 6.00% USD 240,000 United States Treasury Bond 7/12/2028 675,650 0.13 4.375% 15/2/2038 303,534 0.06 GBP 475,000 United Kingdom Gilt RegS 4.75% USD 200,000 United States Treasury Bond 7/12/2030 864,116 0.17 4.50% 15/5/2038 257,074 0.05 GBP 520,000 United Kingdom Gilt RegS 4.25% USD 360,000 United States Treasury Bond 7/6/2032 924,752 0.18 3.50% 15/2/2039 407,658 0.08 GBP 365,000 United Kingdom Gilt RegS 4.50% USD 380,000 United States Treasury Bond 7/9/2034 683,561 0.13 4.25% 15/5/2039 474,874 0.09 GBP 530,000 United Kingdom Gilt RegS 4.25% USD 250,000 United States Treasury Bond 7/3/2036 984,543 0.19 4.50% 15/8/2039 322,598 0.06 GBP 350,000 United Kingdom Gilt RegS 1.75% USD 270,000 United States Treasury Bond 7/9/2037 475,547 0.09 4.375% 15/11/2039 342,853 0.07 GBP 372,000 United Kingdom Gilt RegS 4.75% USD 385,000 United States Treasury Bond 7/12/2038 756,154 0.15 4.625% 15/2/2040 505,102 0.10 GBP 340,000 United Kingdom Gilt RegS 4.25% USD 331,000 United States Treasury Bond 7/9/2039 657,134 0.13 4.375% 15/5/2040 420,842 0.08 GBP 354,000 United Kingdom Gilt RegS 4.25% USD 590,000 United States Treasury Bond 7/12/2040 693,335 0.13 3.875% 15/8/2040 702,111 0.14 GBP 595,000 United Kingdom Gilt RegS 4.50% USD 535,000 United States Treasury Bond 7/12/2042 1,230,465 0.24 4.25% 15/11/2040 669,669 0.13 GBP 388,000 United Kingdom Gilt RegS 3.25% USD 410,000 United States Treasury Bond 22/1/2044 679,598 0.13 4.75% 15/2/2041 548,087 0.11 GBP 483,000 United Kingdom Gilt RegS 3.50% USD 360,000 United States Treasury Bond 22/1/2045 886,216 0.17 4.375% 15/5/2041 458,824 0.09 GBP 572,000 United Kingdom Gilt RegS 4.25% USD 310,000 United States Treasury Bond 7/12/2046 1,193,841 0.23 3.75% 15/8/2041 362,349 0.07 GBP 575,000 United Kingdom Gilt RegS 1.50% USD 175,000 United States Treasury Bond 22/7/2047 739,588 0.14 3.125% 15/11/2041 186,020 0.04 GBP 320,000 United Kingdom Gilt RegS 4.25% USD 394,000 United States Treasury Bond 7/12/2049 692,992 0.13 3.125% 15/2/2042 418,417 0.08 GBP 376,000 United Kingdom Gilt RegS 3.75% USD 260,000 United States Treasury Bond 22/7/2052 779,113 0.15 3.00% 15/5/2042 270,324 0.05 GBP 430,000 United Kingdom Gilt RegS 4.25% USD 480,000 United States Treasury Bond 7/12/2055 1,001,153 0.19 2.75% 15/8/2042 477,591 0.09 GBP 420,000 United Kingdom Gilt RegS 1.75% USD 760,000 United States Treasury Bond 22/7/2057 594,230 0.12 2.75% 15/11/2042 755,413 0.15 GBP 345,000 United Kingdom Gilt RegS 4.00% USD 540,000 United States Treasury Bond 22/1/2060 802,244 0.16 3.125% 15/2/2043 571,672 0.11 GBP 475,000 United Kingdom Gilt RegS 2.50% USD 1,263,000 United States Treasury Bond 22/7/2065 839,440 0.16 2.875% 15/5/2043 1,281,230 0.25 GBP 383,000 United Kingdom Gilt RegS 3.50% USD 820,000 United States Treasury Bond 22/7/2068 859,375 0.17 3.625% 15/8/2043 941,238 0.18 GBP 235,000 United Kingdom Gilt RegS 1.625% USD 1,000,000 United States Treasury Bond 22/10/2071 328,741 0.06 3.75% 15/11/2043 1,171,094 0.23 28,344,104 5.49 USD 976,000 United States Treasury Bond 3.625% 15/2/2044 1,121,275 0.22 USD 1,165,000 United States Treasury Bond United States 3.375% 15/5/2044 1,286,233 0.25 USD 430,000 United States Treasury Bond USD 985,000 United States Treasury Bond 6.00% 15/2/2026 529,681 0.10 3.125% 15/8/2044 1,042,792 0.20 USD 280,000 United States Treasury Bond USD 1,000,000 United States Treasury Bond 6.50% 15/11/2026 360,670 0.07 3.00% 15/11/2044 1,035,977 0.20
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [109] iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued USD 807,000 United States Treasury Bond USD 2,500,000 United States Treasury Note 2.50% 15/2/2045 760,534 0.15 2.625% 15/8/2020 2,508,936 0.49 USD 970,000 United States Treasury Bond USD 1,630,000 United States Treasury Note 3.00% 15/5/2045 1,005,333 0.19 1.375% 31/8/2020 1,607,938 0.31 USD 659,000 United States Treasury Bond USD 2,355,000 United States Treasury Note 2.875% 15/8/2045 667,032 0.13 2.125% 31/8/2020 2,347,963 0.45 USD 900,000 United States Treasury Bond USD 2,170,000 United States Treasury Note 3.00% 15/11/2045 932,924 0.18 1.375% 30/9/2020* 2,139,145 0.41 USD 1,250,000 United States Treasury Bond USD 200,000 United States Treasury Note 2.50% 15/2/2046 1,174,194 0.23 2.00% 30/9/2020 199,000 0.04 USD 1,060,000 United States Treasury Bond USD 650,000 United States Treasury Note 2.50% 15/5/2046 995,013 0.19 1.375% 31/10/2020 640,377 0.12 USD 835,000 United States Treasury Bond USD 2,650,000 United States Treasury Note 2.25% 15/8/2046 743,623 0.14 1.75% 31/10/2020 2,626,036 0.51 USD 813,000 United States Treasury Bond USD 1,090,000 United States Treasury Note 2.875% 15/11/2046 822,099 0.16 2.625% 15/11/2020 1,094,982 0.21 USD 755,000 United States Treasury Bond USD 570,000 United States Treasury Note 3.00% 15/2/2047 782,605 0.15 1.625% 30/11/2020 563,532 0.11 USD 1,100,000 United States Treasury Bond USD 70,000 United States Treasury Note 3.00% 15/5/2047* 1,138,586 0.22 2.00% 30/11/2020 69,631 0.01 USD 900,000 United States Treasury Bond USD 600,000 United States Treasury Note 2.75% 15/8/2047 886,078 0.17 1.75% 31/12/2020 594,234 0.11 USD 960,000 United States Treasury Bond USD 665,000 United States Treasury Note 2.75% 15/11/2047 944,981 0.18 2.375% 31/12/2020 665,675 0.13 USD 1,460,000 United States Treasury Bond USD 1,600,000 United States Treasury Note 3.00% 15/2/2048 1,508,904 0.29 2.50% 31/12/2020 1,605,062 0.31 USD 1,000,000 United States Treasury Bond USD 4,095,000 United States Treasury Note 3.125% 15/5/2048 1,059,062 0.21 1.375% 31/1/2021 4,027,017 0.78 USD 1,050,000 United States Treasury Bond USD 450,000 United States Treasury Note 3.00% 15/8/2048 1,085,663 0.21 2.125% 31/1/2021 448,603 0.09 USD 1,080,000 United States Treasury Bond USD 1,360,000 United States Treasury Note 3.375% 15/11/2048 1,200,509 0.23 3.625% 15/2/2021 1,393,017 0.27 USD 310,000 United States Treasury Bond USD 1,850,000 United States Treasury Note 3.00% 15/2/2049 320,686 0.06 1.125% 28/2/2021 1,809,893 0.35 USD 1,080,000 United States Treasury Note USD 555,000 United States Treasury Note 1.375% 29/2/2020* 1,069,980 0.21 2.00% 28/2/2021 551,986 0.11 USD 1,830,000 United States Treasury Note USD 490,000 United States Treasury Note 2.25% 29/2/2020* 1,827,891 0.35 1.25% 31/3/2021 480,391 0.09 USD 750,000 United States Treasury Note USD 1,670,000 United States Treasury Note 1.625% 15/3/2020 744,624 0.14 2.25% 31/3/2021 1,669,282 0.32 USD 400,000 United States Treasury Note USD 1,270,000 United States Treasury Note 1.375% 31/3/2020 395,992 0.08 2.375% 15/4/2021 1,272,431 0.25 USD 1,920,000 United States Treasury Note USD 1,320,000 United States Treasury Note 2.25% 31/3/2020 1,917,562 0.37 1.375% 30/4/2021 1,296,127 0.25 USD 127,000 United States Treasury Note USD 1,455,000 United States Treasury Note 1.125% 30/4/2020 125,313 0.02 2.25% 30/4/2021 1,454,432 0.28 USD 200,000 United States Treasury Note USD 485,000 United States Treasury Note 1.375% 30/4/2020 197,855 0.04 3.125% 15/5/2021 493,469 0.10 USD 880,000 United States Treasury Note USD 345,000 United States Treasury Note 1.50% 15/5/2020 871,578 0.17 1.375% 31/5/2021 338,498 0.07 USD 1,610,000 United States Treasury Note USD 180,000 United States Treasury Note 3.50% 15/5/2020 1,629,905 0.32 2.00% 31/5/2021 178,991 0.03 USD 170,000 United States Treasury Note USD 1,950,000 United States Treasury Note 1.375% 31/5/2020 168,024 0.03 2.625% 15/6/2021 1,965,501 0.38 USD 960,000 United States Treasury Note USD 575,000 United States Treasury Note 1.50% 31/5/2020 950,325 0.18 1.125% 30/6/2021 561,130 0.11 USD 500,000 United States Treasury Note USD 139,000 United States Treasury Note 1.50% 15/6/2020 494,766 0.10 2.125% 30/6/2021 138,585 0.03 USD 1,040,000 United States Treasury Note USD 950,000 United States Treasury Note 1.625% 30/6/2020 1,030,311 0.20 2.625% 15/7/2021 957,756 0.19 USD 1,200,000 United States Treasury Note USD 40,000 United States Treasury Note 1.50% 15/7/2020 1,186,828 0.23 1.125% 31/7/2021 38,979 0.01 USD 720,000 United States Treasury Note USD 785,000 United States Treasury Note 1.625% 31/7/2020 712,955 0.14 2.25% 31/7/2021 784,831 0.15 USD 700,000 United States Treasury Note USD 640,000 United States Treasury Note 2.00% 31/7/2020 696,732 0.13 2.125% 15/8/2021 638,025 0.12 USD 1,000,000 United States Treasury Note USD 1,150,000 United States Treasury Note 2.625% 31/7/2020 1,003,418 0.19 1.125% 31/8/2021 1,119,745 0.22
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[110] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued USD 150,000 United States Treasury Note USD 1,590,000 United States Treasury Note 2.00% 31/8/2021 149,098 0.03 2.00% 31/10/2022 1,577,889 0.31 USD 640,000 United States Treasury Note USD 1,990,000 United States Treasury Note 1.125% 30/9/2021 622,975 0.12 1.625% 15/11/2022 1,948,762 0.38 USD 200,000 United States Treasury Note USD 980,000 United States Treasury Note 2.125% 30/9/2021 199,398 0.04 2.00% 30/11/2022 972,210 0.19 USD 250,000 United States Treasury Note USD 970,000 United States Treasury Note 1.25% 31/10/2021 243,804 0.05 2.125% 31/12/2022 966,325 0.19 USD 480,000 United States Treasury Note USD 640,000 United States Treasury Note 2.00% 31/10/2021 477,000 0.09 1.75% 31/1/2023 628,762 0.12 USD 1,570,000 United States Treasury Note USD 560,000 United States Treasury Note 2.00% 15/11/2021* 1,560,801 0.30 2.375% 31/1/2023 563,019 0.11 USD 1,797,000 United States Treasury Note USD 2,180,000 United States Treasury Note 2.875% 15/11/2021 1,825,675 0.35 2.00% 15/2/2023 2,161,436 0.42 USD 950,000 United States Treasury Note USD 515,000 United States Treasury Note 1.75% 30/11/2021 938,069 0.18 1.50% 28/2/2023 500,998 0.10 USD 150,000 United States Treasury Note USD 640,000 United States Treasury Note 1.875% 30/11/2021 148,564 0.03 2.625% 28/2/2023 649,437 0.13 USD 200,000 United States Treasury Note USD 145,000 United States Treasury Note 2.00% 31/12/2021 198,844 0.04 1.50% 31/3/2023 140,959 0.03 USD 150,000 United States Treasury Note USD 850,000 United States Treasury Note 2.125% 31/12/2021 149,563 0.03 2.50% 31/3/2023 858,832 0.17 USD 900,000 United States Treasury Note USD 80,000 United States Treasury Note 1.50% 31/1/2022 881,965 0.17 1.625% 30/4/2023 78,108 0.01 USD 460,000 United States Treasury Note USD 1,170,000 United States Treasury Note 1.875% 31/1/2022 455,508 0.09 1.75% 15/5/2023 1,147,788 0.22 USD 1,260,000 United States Treasury Note USD 550,000 United States Treasury Note 2.00% 15/2/2022 1,252,420 0.24 1.625% 31/5/2023 536,733 0.10 USD 1,000,000 United States Treasury Note USD 990,000 United States Treasury Note 1.75% 28/2/2022 986,484 0.19 2.75% 31/5/2023* 1,010,148 0.20 USD 1,110,000 United States Treasury Note USD 950,000 United States Treasury Note 1.875% 28/2/2022 1,098,857 0.21 1.375% 30/6/2023 917,065 0.18 USD 975,000 United States Treasury Note USD 1,400,000 United States Treasury Note 1.75% 31/3/2022 961,556 0.19 2.625% 30/6/2023 1,422,094 0.28 USD 540,000 United States Treasury Note USD 570,000 United States Treasury Note 1.875% 31/3/2022 534,727 0.10 1.25% 31/7/2023 546,866 0.11 USD 1,600,000 United States Treasury Note USD 1,000,000 United States Treasury Note 1.75% 30/4/2022 1,577,125 0.31 2.75% 31/7/2023 1,021,191 0.20 USD 1,080,000 United States Treasury Note USD 775,000 United States Treasury Note 1.875% 30/4/2022 1,068,652 0.21 2.50% 15/8/2023* 783,598 0.15 USD 150,000 United States Treasury Note USD 1,190,000 United States Treasury Note 1.75% 15/5/2022 147,847 0.03 1.375% 31/8/2023 1,146,398 0.22 USD 1,230,000 United States Treasury Note USD 250,000 United States Treasury Note 1.75% 31/5/2022 1,212,199 0.23 1.375% 30/9/2023 240,791 0.05 USD 1,220,000 United States Treasury Note USD 630,000 United States Treasury Note 1.875% 31/5/2022 1,206,990 0.23 1.625% 31/10/2023 613,315 0.12 USD 3,300,000 United States Treasury Note USD 1,580,000 United States Treasury Note 1.75% 30/6/2022 3,251,338 0.63 2.75% 15/11/2023* 1,614,902 0.31 USD 1,070,000 United States Treasury Note USD 300,000 United States Treasury Note 2.125% 30/6/2022 1,066,761 0.21 2.125% 30/11/2023 298,482 0.06 USD 550,000 United States Treasury Note USD 2,430,000 United States Treasury Note 1.875% 31/7/2022 543,791 0.11 2.25% 31/12/2023 2,430,712 0.47 USD 860,000 United States Treasury Note USD 2,930,000 United States Treasury Note 2.00% 31/7/2022 853,869 0.17 2.25% 31/1/2024 2,930,744 0.57 USD 550,000 United States Treasury Note USD 1,120,000 United States Treasury Note 1.625% 15/8/2022 539,269 0.10 2.75% 15/2/2024 1,145,987 0.22 USD 700,000 United States Treasury Note USD 665,000 United States Treasury Note 1.625% 31/8/2022 686,191 0.13 2.125% 29/2/2024 661,233 0.13 USD 800,000 United States Treasury Note USD 450,000 United States Treasury Note 1.875% 31/8/2022 790,781 0.15 2.125% 31/3/2024 447,583 0.09 USD 558,000 United States Treasury Note USD 850,000 United States Treasury Note 1.75% 30/9/2022* 549,085 0.11 2.00% 30/4/2024 839,740 0.16 USD 980,000 United States Treasury Note USD 1,040,000 United States Treasury Note 1.875% 30/9/2022 968,745 0.19 2.50% 15/5/2024 1,052,167 0.20 USD 600,000 United States Treasury Note USD 770,000 United States Treasury Note 1.875% 31/10/2022 592,781 0.11 2.00% 31/5/2024 760,540 0.15
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [111] iShares Global Government Bond Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued USD 840,000 United States Treasury Note USD 2,800,000 United States Treasury Note 2.00% 30/6/2024 829,123 0.16 3.125% 15/11/2028 2,970,023 0.58 USD 500,000 United States Treasury Note USD 236,000 United States Treasury Note 2.125% 31/7/2024 496,514 0.10 2.625% 15/2/2029 240,324 0.05 USD 1,405,000 United States Treasury Note 191,721,358 37.16 2.375% 15/8/2024 1,412,217 0.27 USD 1,150,000 United States Treasury Note Total Bonds 507,363,620 98.34 1.875% 31/8/2024 1,126,978 0.22 Total Transferable Securities and Money USD 1,480,000 United States Treasury Note Market Instruments Admitted to an 2.125% 30/9/2024 1,468,582 0.28 Official Stock Exchange Listing or USD 1,850,000 United States Treasury Note Dealt in on Another Regulated Market 507,363,620 98.34 2.25% 31/10/2024 1,846,856 0.36 USD 1,655,000 United States Treasury Note 2.25% 15/11/2024 1,651,897 0.32 Other Transferable Securities and Money Market Instruments USD 240,000 United States Treasury Note 2.125% 30/11/2024 238,036 0.05 BONDS USD 1,190,000 United States Treasury Note 2.25% 31/12/2024 1,187,885 0.23 Canada USD 680,000 United States Treasury Note CAD 380,000 Canadian Government Bond 2.50% 31/1/2025 687,902 0.13 1.75% 1/8/2020 285,128 0.05 USD 1,410,000 United States Treasury Note 285,128 0.05 2.00% 15/2/2025* 1,387,087 0.27 USD 1,230,000 United States Treasury Note 2.75% 28/2/2025 1,260,462 0.24 Malaysia USD 990,000 United States Treasury Note MYR 150,000 Malaysia Government Bond 2.625% 31/3/2025 1,008,427 0.20 3.733% 15/6/2028 36,595 0.01 USD 719,000 United States Treasury Note MYR 130,000 Malaysia Government Bond 2.875% 30/4/2025 742,522 0.14 3.80% 17/8/2023 32,082 0.01 USD 2,110,000 United States Treasury Note MYR 540,000 Malaysia Government Bond 2.125% 15/5/2025 2,088,323 0.40 3.844% 15/4/2033 129,097 0.02 USD 425,000 United States Treasury Note MYR 2,924,000 Malaysia Government Bond 2.75% 30/6/2025 435,999 0.08 3.882% 10/3/2022 726,112 0.14 USD 350,000 United States Treasury Note MYR 350,000 Malaysia Government Bond 2.875% 31/7/2025 361,669 0.07 3.889% 31/7/2020 86,293 0.02 USD 870,000 United States Treasury Note MYR 570,000 Malaysia Government Bond 2.00% 15/8/2025* 853,925 0.17 3.90% 30/11/2026 141,331 0.03 USD 1,525,000 United States Treasury Note MYR 800,000 Malaysia Government Bond 2.25% 15/11/2025* 1,518,358 0.29 3.955% 15/9/2025 198,506 0.04 USD 900,000 United States Treasury Note MYR 150,000 Malaysia Government Bond 2.625% 31/12/2025 917,473 0.18 4.127% 15/4/2032 36,963 0.01 USD 1,880,000 United States Treasury Note MYR 130,000 Malaysia Government Bond 1.625% 15/2/2026 1,796,722 0.35 4.16% 15/7/2021 32,348 0.01 USD 3,600,000 United States Treasury Note MYR 305,000 Malaysia Government Bond 1.625% 15/5/2026* 3,434,344 0.67 4.181% 15/7/2024 76,539 0.01 USD 1,105,000 United States Treasury Note MYR 600,000 Malaysia Government Bond 1.50% 15/8/2026 1,042,154 0.20 4.232% 30/6/2031 150,055 0.03 USD 1,620,000 United States Treasury Note MYR 450,000 Malaysia Government Bond 2.00% 15/11/2026* 1,580,829 0.31 4.498% 15/4/2030 115,765 0.02 USD 1,800,000 United States Treasury Note MYR 500,000 Malaysia Government Bond 2.25% 15/2/2027* 1,786,008 0.35 4.893% 8/6/2038 131,965 0.02 USD 1,910,000 United States Treasury Note MYR 200,000 Malaysia Government Bond 2.375% 15/5/2027* 1,912,164 0.37 4.935% 30/9/2043 51,758 0.01 USD 1,000,000 United States Treasury Note 1,945,409 0.38 2.25% 15/8/2027 990,508 0.19 Total Bonds 2,230,537 0.43 USD 1,390,000 United States Treasury Note 2.25% 15/11/2027* 1,375,421 0.27 Total Other Transferable Securities USD 1,440,000 United States Treasury Note and Money Market Instruments 2,230,537 0.43 2.75% 15/2/2028 1,481,147 0.29 Securities portfolio at market value 509,594,157 98.77 USD 1,900,000 United States Treasury Note 2.875% 15/5/2028 1,971,992 0.38 Other Net Assets 6,362,605 1.23 USD 1,060,000 United States Treasury Note Total Net Assets (USD) 515,956,762 100.00 2.875% 15/8/2028 1,101,344 0.21
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[112] BlackRock Global Index Funds (BGIF) iShares Global Government Bond Index Fund (LU) continued
Sector Breakdown as at 31 March 2019
% of Net Assets
Government 98.77 Securities portfolio at market value 98.77 Other Net Assets 1.23 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [113] iShares Japan Equity Index Fund (LU)
iShares Japan Equity Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
COMMON STOCKS (SHARES) Japan continued 1,580 Hirose Electric Co Ltd 165,746 0.10 Japan 2,900 Hisamitsu Pharmaceutical Co Inc* 133,144 0.08 1,500 ABC-Mart Inc 89,162 0.05 5,100 Hitachi Chemical Co Ltd 112,797 0.07 21,700 Acom Co Ltd 77,315 0.05 5,400 Hitachi Construction Machinery 30,500 Aeon Co Ltd 637,291 0.38 Co Ltd 143,055 0.09 5,400 AEON Financial Service Co Ltd* 109,739 0.07 3,500 Hitachi High-Technologies Corp 143,170 0.09 4,700 Aeon Mall Co Ltd 77,157 0.05 47,300 Hitachi Ltd 1,529,522 0.92 8,800 AGC Inc/Japan 307,978 0.19 10,300 Hitachi Metals Ltd 119,477 0.07 6,800 Air Water Inc 98,383 0.06 79,700 Honda Motor Co Ltd 2,153,083 1.29 8,200 Aisin Seiki Co Ltd 292,527 0.18 2,400 Hoshizaki Corp 148,505 0.09 21,300 Ajinomoto Co Inc 339,870 0.20 18,700 Hoya Corp* 1,232,835 0.74 9,500 Alfresa Holdings Corp 269,923 0.16 14,700 Hulic Co Ltd 143,997 0.09 10,700 Alps Alpine Co Ltd 222,947 0.13 9,616 Idemitsu Kosan Co Ltd 321,357 0.19 17,600 Amada Holdings Co Ltd 173,833 0.10 7,100 IHI Corp 170,287 0.10 5,600 ANA Holdings Inc 205,028 0.12 6,500 Iida Group Holdings Co Ltd* 117,553 0.07 6,000 Aozora Bank Ltd 148,072 0.09 49,000 Inpex Corp 466,509 0.28 17,500 Asahi Group Holdings Ltd* 778,199 0.47 16,000 Isetan Mitsukoshi Holdings Ltd* 161,494 0.10 4,900 Asahi Intecc Co Ltd 229,829 0.14 27,900 Isuzu Motors Ltd 365,910 0.22 60,800 Asahi Kasei Corp 626,290 0.38 65,900 ITOCHU Corp* 1,190,319 0.72 7,900 Asics Corp 105,818 0.06 11,500 J Front Retailing Co Ltd 136,612 0.08 92,000 Astellas Pharma Inc* 1,376,286 0.83 5,900 Japan Airlines Co Ltd 207,496 0.12 9,700 Bandai Namco Holdings Inc 454,093 0.27 2,100 Japan Airport Terminal Co Ltd 88,554 0.05 2,300 Bank of Kyoto Ltd/The* 96,054 0.06 24,700 Japan Exchange Group Inc 439,571 0.26 3,700 Benesse Holdings Inc 95,950 0.06 20,500 Japan Post Bank Co Ltd* 223,556 0.13 29,800 Bridgestone Corp 1,146,681 0.69 76,700 Japan Post Holdings Co Ltd* 896,615 0.54 11,300 Brother Industries Ltd 208,744 0.13 39 Japan Prime Realty Investment 3,900 Calbee Inc 104,901 0.06 Corp (Reit) 160,411 0.10 48,900 Canon Inc 1,417,180 0.85 64 Japan Real Estate Investment 10,200 Casio Computer Co Ltd* 132,945 0.08 Corp (Reit) 376,963 0.23 7,000 Central Japan Railway Co 1,623,326 0.98 132 Japan Retail Fund Investment 31,100 Chiba Bank Ltd/The* 168,593 0.10 Corp (Reit) 265,155 0.16 29,000 Chubu Electric Power Co Inc 452,140 0.27 53,800 Japan Tobacco Inc 1,332,080 0.80 10,800 Chugai Pharmaceutical Co Ltd* 741,334 0.45 23,600 JFE Holdings Inc* 399,879 0.24 14,500 Chugoku Electric Power Co Inc/The 180,621 0.11 10,900 JGC Corp* 144,625 0.09 6,900 Coca-Cola Bottlers Japan 10,100 JSR Corp 156,331 0.09 Holdings Inc* 174,951 0.11 10,400 JTEKT Corp 127,766 0.08 54,200 Concordia Financial Group Ltd 208,753 0.13 155,800 JXTG Holdings Inc 711,791 0.43 7,500 Credit Saison Co Ltd* 98,904 0.06 22,800 Kajima Corp 336,041 0.20 5,200 CyberAgent Inc* 211,771 0.13 6,600 Kakaku.com Inc* 126,624 0.08 12,294 Dai Nippon Printing Co Ltd 293,530 0.18 5,200 Kamigumi Co Ltd 120,262 0.07 52,200 Dai-ichi Life Holdings Inc 724,156 0.44 2,500 Kaneka Corp 93,469 0.06 13,800 Daicel Corp 149,620 0.09 35,300 Kansai Electric Power Co Inc/The 519,637 0.31 5,000 Daifuku Co Ltd* 259,775 0.16 9,200 Kansai Paint Co Ltd* 175,179 0.11 27,700 Daiichi Sankyo Co Ltd* 1,274,252 0.77 23,900 Kao Corp 1,879,405 1.13 12,200 Daikin Industries Ltd 1,427,267 0.86 6,400 Kawasaki Heavy Industries Ltd 157,597 0.09 3,600 Daito Trust Construction Co Ltd 501,042 0.30 86,700 KDDI Corp* 1,865,147 1.12 27,500 Daiwa House Industry Co Ltd* 872,886 0.52 4,700 Keihan Holdings Co Ltd 197,344 0.12 89 Daiwa House REIT Investment 10,400 Keikyu Corp* 176,171 0.11 Corp (Reit) 197,243 0.12 4,900 Keio Corp* 316,015 0.19 81,300 Daiwa Securities Group Inc* 395,262 0.24 6,600 Keisei Electric Railway Co Ltd 239,318 0.14 5,400 DeNA Co Ltd 81,196 0.05 4,740 Keyence Corp 2,948,792 1.77 21,000 Denso Corp* 817,724 0.49 7,000 Kikkoman Corp 342,849 0.21 10,800 Dentsu Inc* 455,419 0.27 8,600 Kintetsu Group Holdings Co Ltd* 400,271 0.24 1,300 Disco Corp* 184,919 0.11 40,000 Kirin Holdings Co Ltd 953,412 0.57 14,900 East Japan Railway Co 1,435,367 0.86 2,300 Kobayashi Pharmaceutical Co Ltd 193,767 0.12 12,300 Eisai Co Ltd 689,306 0.41 14,800 Kobe Steel Ltd 110,935 0.07 7,600 Electric Power Development Co Ltd 184,816 0.11 5,200 Koito Manufacturing Co Ltd* 294,087 0.18 12,700 FamilyMart UNY Holdings Co Ltd 323,156 0.19 45,200 Komatsu Ltd* 1,048,001 0.63 9,500 FANUC Corp* 1,617,823 0.97 4,800 Konami Holdings Corp 208,037 0.12 2,800 Fast Retailing Co Ltd 1,314,067 0.79 22,700 Konica Minolta Inc 222,977 0.13 5,700 Fuji Electric Co Ltd 161,440 0.10 1,400 Kose Corp 256,727 0.15 18,700 FUJIFILM Holdings Corp 849,103 0.51 47,700 Kubota Corp 688,190 0.41 9,800 Fujitsu Ltd 705,929 0.42 16,300 Kuraray Co Ltd 207,012 0.12 8,400 Fukuoka Financial Group Inc* 186,086 0.11 4,800 Kurita Water Industries Ltd 122,397 0.07 11,200 Hakuhodo DY Holdings Inc 179,620 0.11 15,600 Kyocera Corp 914,626 0.55 7,100 Hamamatsu Photonics KK* 274,099 0.16 13,200 Kyowa Hakko Kirin Co Ltd 286,944 0.17 11,100 Hankyu Hanshin Holdings Inc 415,505 0.25 19,100 Kyushu Electric Power Co Inc* 225,172 0.14 1,000 Hikari Tsushin Inc* 189,149 0.11 8,100 Kyushu Railway Co 265,945 0.16 11,700 Hino Motors Ltd 98,357 0.06
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[114] BlackRock Global Index Funds (BGIF) iShares Japan Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Japan continued 2,600 Lawson Inc 143,995 0.09 32,100 NTT Data Corp 353,530 0.21 3,600 LINE Corp 126,803 0.08 65,200 NTT DOCOMO Inc 1,441,734 0.87 11,000 Lion Corp* 231,182 0.14 33,000 Obayashi Corp 331,592 0.20 13,700 LIXIL Group Corp 182,642 0.11 3,000 Obic Co Ltd* 301,989 0.18 20,000 M3 Inc 335,002 0.20 14,200 Odakyu Electric Railway Co Ltd* 343,649 0.21 10,600 Makita Corp* 368,583 0.22 41,700 Oji Holdings Corp 258,403 0.16 75,100 Marubeni Corp* 518,211 0.31 56,000 Olympus Corp* 607,153 0.36 9,800 Marui Group Co Ltd* 197,565 0.12 9,200 Omron Corp* 429,856 0.26 2,500 Maruichi Steel Tube Ltd 72,724 0.04 18,400 Ono Pharmaceutical Co Ltd* 359,984 0.22 28,700 Mazda Motor Corp 320,615 0.19 1,900 Oracle Corp Japan 127,335 0.08 3,400 McDonald’s Holdings Co Japan Ltd 157,020 0.09 9,700 Oriental Land Co Ltd/Japan* 1,099,797 0.66 37,830 Mebuki Financial Group Inc 96,567 0.06 64,500 ORIX Corp 924,753 0.56 8,300 Medipal Holdings Corp 196,897 0.12 18,100 Osaka Gas Co Ltd 356,563 0.21 5,900 MEIJI Holdings Co Ltd* 478,429 0.29 5,400 Otsuka Corp 201,407 0.12 18,600 MINEBEA MITSUMI Inc* 279,004 0.17 18,900 Otsuka Holdings Co Ltd 741,407 0.45 14,300 MISUMI Group Inc* 354,969 0.21 5,700 Pan Pacific International 64,100 Mitsubishi Chemical Holdings Corp 450,634 0.27 Holdings Corp 376,864 0.23 66,100 Mitsubishi Corp* 1,832,782 1.10 107,500 Panasonic Corp* 925,238 0.56 89,200 Mitsubishi Electric Corp* 1,144,518 0.69 5,300 Park24 Co Ltd 114,878 0.07 57,700 Mitsubishi Estate Co Ltd 1,043,768 0.63 9,300 Persol Holdings Co Ltd* 150,323 0.09 7,000 Mitsubishi Gas Chemical Co Inc 99,698 0.06 5,500 Pigeon Corp 224,485 0.13 14,600 Mitsubishi Heavy Industries Ltd* 605,518 0.36 4,600 Pola Orbis Holdings Inc 146,466 0.09 5,200 Mitsubishi Materials Corp* 137,053 0.08 43,700 Rakuten Inc* 413,093 0.25 32,300 Mitsubishi Motors Corp* 171,311 0.10 53,900 Recruit Holdings Co Ltd* 1,536,805 0.92 12,200 Mitsubishi Tanabe Pharma Corp 162,755 0.10 41,000 Renesas Electronics Corp* 189,347 0.11 574,700 Mitsubishi UFJ Financial Group Inc* 2,851,080 1.71 104,600 Resona Holdings Inc* 452,592 0.27 19,200 Mitsubishi UFJ Lease & Finance 34,100 Ricoh Co Ltd* 355,872 0.21 Co Ltd 97,676 0.06 1,600 Rinnai Corp* 113,002 0.07 80,900 Mitsui & Co Ltd* 1,254,017 0.75 4,600 Rohm Co Ltd 286,294 0.17 9,300 Mitsui Chemicals Inc 224,059 0.13 1,200 Ryohin Keikaku Co Ltd* 303,504 0.18 43,600 Mitsui Fudosan Co Ltd 1,094,277 0.66 2,500 Sankyo Co Ltd 95,161 0.06 5,800 Mitsui OSK Lines Ltd* 124,564 0.07 17,700 Santen Pharmaceutical Co Ltd* 263,269 0.16 1,179,538 Mizuho Financial Group Inc* 1,822,531 1.10 11,000 SBI Holdings Inc/Japan 244,676 0.15 5,800 MonotaRO Co Ltd 128,749 0.08 10,200 Secom Co Ltd 872,380 0.52 22,900 MS&AD Insurance Group 7,700 Sega Sammy Holdings Inc 90,707 0.05 Holdings Inc* 696,099 0.42 10,600 Seibu Holdings Inc* 185,200 0.11 26,400 Murata Manufacturing Co Ltd 1,312,558 0.79 13,400 Seiko Epson Corp 204,871 0.12 5,000 Nabtesco Corp 145,447 0.09 18,300 Sekisui Chemical Co Ltd 293,652 0.18 9,200 Nagoya Railroad Co Ltd* 254,345 0.15 29,900 Sekisui House Ltd 494,086 0.30 12,400 NEC Corp* 418,870 0.25 36,800 Seven & i Holdings Co Ltd 1,386,161 0.83 22,600 Nexon Co Ltd* 353,479 0.21 28,900 Seven Bank Ltd 85,241 0.05 13,200 NGK Insulators Ltd* 191,454 0.12 4,900 SG Holdings Co Ltd 142,538 0.09 8,100 NGK Spark Plug Co Ltd* 150,069 0.09 9,800 Sharp Corp/Japan 107,666 0.06 4,100 NH Foods Ltd 147,373 0.09 11,000 Shimadzu Corp* 317,503 0.19 10,900 Nidec Corp* 1,378,907 0.83 1,100 Shimamura Co Ltd 92,969 0.06 15,700 Nikon Corp* 221,059 0.13 3,600 Shimano Inc* 584,495 0.35 5,500 Nintendo Co Ltd 1,565,688 0.94 27,200 Shimizu Corp 236,020 0.14 64 Nippon Building Fund Inc (Reit)* 432,959 0.26 17,800 Shin-Etsu Chemical Co Ltd 1,489,956 0.90 4,100 Nippon Electric Glass Co Ltd 108,542 0.07 7,900 Shinsei Bank Ltd 112,231 0.07 3,600 Nippon Express Co Ltd 200,027 0.12 13,400 Shionogi & Co Ltd 828,186 0.50 7,200 Nippon Paint Holdings Co Ltd 282,506 0.17 18,600 Shiseido Co Ltd* 1,339,992 0.81 81 Nippon Prologis REIT Inc (Reit) 172,280 0.10 20,700 Shizuoka Bank Ltd/The* 157,399 0.09 39,000 Nippon Steel Corp* 687,376 0.41 6,500 Showa Denko KK 228,070 0.14 31,500 Nippon Telegraph & Telephone Corp 1,336,260 0.80 2,800 SMC Corp/Japan* 1,048,879 0.63 8,100 Nippon Yusen KK* 118,506 0.07 81,700 Softbank Corp* 918,955 0.55 5,900 Nissan Chemical Corp 269,815 0.16 40,400 SoftBank Group Corp* 3,915,555 2.35 113,200 Nissan Motor Co Ltd* 927,328 0.56 3,700 Sohgo Security Services Co Ltd* 160,862 0.10 9,600 Nisshin Seifun Group Inc 219,943 0.13 15,300 Sompo Holdings Inc 565,547 0.34 3,100 Nissin Foods Holdings Co Ltd* 212,511 0.13 62,100 Sony Corp 2,601,854 1.56 4,000 Nitori Holdings Co Ltd* 515,943 0.31 8,700 Sony Financial Holdings Inc* 163,853 0.10 8,000 Nitto Denko Corp 419,609 0.25 6,300 Stanley Electric Co Ltd* 169,057 0.10 173,100 Nomura Holdings Inc* 624,856 0.38 29,800 Subaru Corp 678,036 0.41 5,800 Nomura Real Estate Holdings Inc 111,171 0.07 12,400 SUMCO Corp 137,685 0.08 197 Nomura Real Estate Master 75,800 Sumitomo Chemical Co Ltd 352,113 0.21 Fund Inc (Reit) 289,996 0.17 54,600 Sumitomo Corp* 754,003 0.45 5,540 Nomura Research Institute Ltd 251,353 0.15 7,800 Sumitomo Dainippon Pharma Co Ltd 192,564 0.12 18,100 NSK Ltd 169,302 0.10 37,900 Sumitomo Electric Industries Ltd* 502,017 0.30
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [115] iShares Japan Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Japan continued 5,300 Sumitomo Heavy Industries Ltd 171,384 0.10 13,400 Tosoh Corp 208,013 0.12 11,300 Sumitomo Metal Mining Co Ltd* 333,297 0.20 7,000 TOTO Ltd* 296,442 0.18 65,000 Sumitomo Mitsui Financial Group Inc* 2,272,494 1.37 7,800 Toyo Seikan Group Holdings Ltd 159,497 0.10 16,000 Sumitomo Mitsui Trust Holdings Inc* 573,815 0.34 4,600 Toyo Suisan Kaisha Ltd 174,888 0.11 17,300 Sumitomo Realty & Development 3,400 Toyoda Gosei Co Ltd* 71,886 0.04 Co Ltd* 715,625 0.43 7,400 Toyota Industries Corp* 370,451 0.22 8,200 Sumitomo Rubber Industries Ltd 98,224 0.06 111,700 Toyota Motor Corp* 6,535,858 3.93 3,300 Sundrug Co Ltd 90,786 0.05 10,800 Toyota Tsusho Corp* 351,184 0.21 6,500 Suntory Beverage & Food Ltd 304,875 0.18 5,500 Trend Micro Inc/Japan* 267,397 0.16 3,700 Suzuken Co Ltd/Aichi Japan 213,927 0.13 1,800 Tsuruha Holdings Inc* 146,124 0.09 16,600 Suzuki Motor Corp* 733,386 0.44 19,400 Unicharm Corp* 640,980 0.39 8,100 Sysmex Corp 488,784 0.29 149 United Urban Investment Corp (Reit) 235,062 0.14 28,300 T&D Holdings Inc 297,129 0.18 10,000 USS Co Ltd 185,270 0.11 5,800 Taiheiyo Cement Corp 193,046 0.12 2,400 Welcia Holdings Co Ltd 81,288 0.05 10,700 Taisei Corp 496,081 0.30 7,800 West Japan Railway Co 586,697 0.35 1,800 Taisho Pharmaceutical Holdings 137,100 Yahoo Japan Corp* 335,129 0.20 Co Ltd 171,289 0.10 5,800 Yakult Honsha Co Ltd* 404,925 0.24 6,300 Taiyo Nippon Sanso Corp* 95,808 0.06 31,800 Yamada Denki Co Ltd* 156,612 0.09 7,100 Takashimaya Co Ltd 94,398 0.06 9,300 Yamaguchi Financial Group Inc 78,685 0.05 72,600 Takeda Pharmaceutical Co Ltd* 2,960,579 1.78 6,500 Yamaha Corp 324,223 0.19 6,200 TDK Corp 484,860 0.29 13,500 Yamaha Motor Co Ltd 264,362 0.16 9,300 Teijin Ltd 153,175 0.09 14,700 Yamato Holdings Co Ltd 379,085 0.23 29,600 Terumo Corp* 902,431 0.54 6,600 Yamazaki Baking Co Ltd 106,919 0.06 5,900 THK Co Ltd 145,498 0.09 12,100 Yaskawa Electric Corp 379,268 0.23 9,700 Tobu Railway Co Ltd 279,543 0.17 11,300 Yokogawa Electric Corp 233,512 0.14 5,500 Toho Co Ltd/Tokyo 220,516 0.13 5,900 Yokohama Rubber Co Ltd/The 109,416 0.07 3,700 Toho Gas Co Ltd 165,868 0.10 9,700 ZOZO Inc* 182,512 0.11 21,700 Tohoku Electric Power Co Inc 276,376 0.17 159,380,843 95.77 31,700 Tokio Marine Holdings Inc* 1,533,175 0.92 2,200 Tokyo Century Corp* 95,549 0.06 Total Common Stocks (Shares) 159,380,843 95.77 69,300 Tokyo Electric Power Co Total Transferable Securities and Money Holdings Inc* 437,559 0.26 Market Instruments Admitted to an 7,600 Tokyo Electron Ltd* 1,096,829 0.66 Official Stock Exchange Listing or 18,500 Tokyo Gas Co Ltd* 499,524 0.30 Dealt in on Another Regulated Market 159,380,843 95.77 23,900 Tokyu Corp 416,711 0.25 Securities portfolio at market value 159,380,843 95.77 31,400 Tokyu Fudosan Holdings Corp 187,496 0.11 12,600 Toppan Printing Co Ltd 189,912 0.11 Other Net Assets 7,039,537 4.23 66,300 Toray Industries Inc* 422,744 0.25 31,800 Toshiba Corp* 1,011,095 0.61 Total Net Assets (USD) 166,420,380 100.00
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[116] BlackRock Global Index Funds (BGIF) iShares Japan Equity Index Fund (LU) continued
Futures contracts as at 31 March 2019
Gross underlying Net unrealised Number of Currency Contract/ Expiration exposure appreciation contracts of contract Description date USD USD 22 JPY Topix Index June 2019 3,159,158 21,377 Total 3,159,158 21,377
Sector Breakdown as at 31 March 2019
% of Net Assets
Consumer, Cyclical 22.55 Industrial 21.16 Consumer, Non-cyclical 17.94 Financial 14.18 Communications 7.47 Basic Materials 5.02 Technology 4.57 Utilities 1.98 Energy 0.90 Securities portfolio at market value 95.77 Other Net Assets 4.23 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [117] iShares North America Equity Index Fund (LU)
iShares North America Equity Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
COMMON STOCKS (SHARES) Canada continued 7,182 Imperial Oil Ltd 196,244 0.03 Bermuda 3,852 Intact Financial Corp 325,710 0.05 9,378 Arch Capital Group Ltd 301,597 0.05 9,758 Inter Pipeline Ltd 161,075 0.03 3,553 Athene Holding Ltd ‘A’ 144,607 0.02 5,721 Keyera Corp 133,282 0.02 5,044 Axalta Coating Systems Ltd 127,311 0.02 41,447 Kinross Gold Corp 142,418 0.02 3,499 Bunge Ltd 184,747 0.03 4,380 Loblaw Cos Ltd 215,688 0.03 992 Everest Re Group Ltd 213,300 0.03 12,086 Lundin Mining Corp 56,820 0.01 9,282 IHS Markit Ltd* 501,321 0.08 8,003 Magna International Inc 392,152 0.06 8,978 Invesco Ltd 174,083 0.03 48,429 Manulife Financial Corp 817,180 0.13 14,329 Marvell Technology Group Ltd* 282,855 0.04 1,549 Methanex Corp 87,840 0.01 5,842 Norwegian Cruise Line Holdings Ltd 318,856 0.05 6,773 Metro Inc 249,564 0.04 1,147 RenaissanceRe Holdings Ltd 164,250 0.02 8,980 National Bank of Canada 405,639 0.06 2,412,927 0.37 15,042 Nutrien Ltd 788,247 0.12 2,775 Onex Corp 156,865 0.02 British Virgin Islands 6,481 Open Text Corp 247,732 0.04 3,903 Capri HoldingsLtd 182,192 0.03 13,214 Pembina Pipeline Corp 484,421 0.08 8,345 Power Corp of Canada 195,162 0.03 182,192 0.03 6,634 Power Financial Corp 154,750 0.02 5,206 PrairieSky Royalty Ltd 70,892 0.01 Canada 5,659 Restaurant Brands International Inc 370,305 0.06 5,766 Agnico Eagle Mines Ltd 251,998 0.04 4,166 RioCan Real Estate Investment 10,726 Alimentation Couche-Tard Inc ‘B’* 632,013 0.10 Trust (Reit) 82,490 0.01 8,594 AltaGas Ltd 113,746 0.02 9,317 Rogers Communications Inc ‘B’ 502,538 0.08 8,959 ARC Resources Ltd 62,374 0.01 35,881 Royal Bank of Canada 2,716,996 0.42 2,015 Atco Ltd/Canada ‘I’ 68,182 0.01 6,476 Saputo Inc* 220,537 0.03 14,242 Aurora Cannabis Inc 127,408 0.02 12,221 Seven Generations Energy Ltd ‘A’ 89,567 0.01 15,683 Bank of Montreal 1,175,579 0.18 12,705 Shaw Communications Inc ‘B’ 263,935 0.04 30,070 Bank of Nova Scotia/The* 1,603,223 0.25 2,330 Shopify Inc ‘A’ 478,158 0.07 42,577 Barrick Gold Corp 592,215 0.09 1,986 SmartCentres Real Estate 7,757 Bausch Health Cos Inc 189,715 0.03 Investment Trust (Reit) 51,888 0.01 3,572 BCE Inc 158,304 0.02 4,552 SNC-Lavalin Group Inc 116,441 0.02 9,533 BlackBerry Ltd 95,915 0.02 4,127 Stars Group Inc/The 72,202 0.01 54,067 Bombardier Inc ‘B’ 104,224 0.02 14,300 Sun Life Financial Inc 548,641 0.08 20,882 Brookfield Asset Management Inc ‘A’ 971,409 0.15 39,804 Suncor Energy Inc 1,290,844 0.20 7,547 CAE Inc 167,799 0.03 11,692 Teck Resources Ltd ‘B’ 272,125 0.04 8,157 Cameco Corp 96,726 0.02 4,738 Thomson Reuters Corp 278,364 0.04 10,613 Canadian Imperial Bank of 45,629 Toronto-Dominion Bank/The 2,480,594 0.38 Commerce 844,559 0.13 5,570 Tourmaline Oil Corp 86,398 0.01 17,906 Canadian National Railway Co 1,599,181 0.25 22,167 TransCanada Corp* 988,703 0.15 30,204 Canadian Natural Resources Ltd 830,734 0.13 21,116 Turquoise Hill Resources Ltd 35,093 0.01 3,480 Canadian Pacific Railway Ltd 716,399 0.11 2,776 Vermilion Energy Inc 68,870 0.01 1,274 Canadian Tire Corp Ltd ‘A’ 136,937 0.02 6,763 Waste Connections Inc 597,917 0.09 2,666 Canadian Utilities Ltd ‘A’ 73,206 0.01 1,424 West Fraser Timber Co Ltd* 68,940 0.01 4,029 CCL Industries Inc ‘B’ 161,818 0.03 10,433 Wheaton Precious Metals Corp 249,773 0.04 25,865 Cenovus Energy Inc 222,286 0.03 2,222 WSP Global Inc 121,297 0.02 6,724 CGI Inc 461,237 0.07 6,001 CI Financial Corp 81,987 0.01 34,492,143 5.32 523 Constellation Software Inc/Canada 443,195 0.07 6,801 Dollarama Inc 178,706 0.03 Curacao 2,074 Emera Inc 77,616 0.01 33,992 Schlumberger Ltd 1,478,312 0.23 4,905 Empire Co Ltd ‘A’ 106,854 0.02 1,478,312 0.23 49,532 Enbridge Inc 1,808,782 0.28 37,463 Encana Corp 272,321 0.04 Ireland 773 Fairfax Financial Holdings Ltd 350,466 0.05 15,701 Accenture Plc ‘A’ 2,755,368 0.43 5,104 Finning International Inc 90,785 0.01 3,762 Alkermes Plc 134,529 0.02 3,144 First Capital Realty Inc 50,415 0.01 2,226 Allegion Plc 200,585 0.03 16,506 First Quantum Minerals Ltd 184,361 0.03 8,422 Allergan Plc 1,229,696 0.19 11,003 Fortis Inc/Canada 405,838 0.06 10,410 Eaton Corp Plc 836,756 0.13 5,013 Franco-Nevada Corp 377,645 0.06 6,298 Ingersoll-Rand Plc 676,657 0.10 2,086 George Weston Ltd 149,805 0.02 1,527 Jazz Pharmaceuticals Plc 215,918 0.03 4,930 Gildan Activewear Inc 176,488 0.03 22,782 Johnson Controls International Plc 843,162 0.13 25,403 Goldcorp Inc 291,722 0.05 13,798 Linde Plc 2,402,094 0.37 6,962 Great-West Lifeco Inc 168,708 0.03 33,460 Medtronic Plc 3,017,423 0.47 4,172 H&R Real Estate Investment 4,339 Pentair Plc 192,218 0.03 Trust (Reit) 73,364 0.01 3,104 Perrigo Co Plc 148,961 0.02 8,097 Husky Energy Inc 80,800 0.01 6,473 Seagate Technology Plc 307,273 0.05 10,202 Hydro One Ltd 158,170 0.02 3,175 Willis Towers Watson Plc 558,165 0.09 2,863 IA Financial Corp Inc 106,071 0.02 2,579 IGM Financial Inc 66,560 0.01 13,518,805 2.09
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[118] BlackRock Global Index Funds (BGIF) iShares North America Equity Index Fund (LU)
iShares North America Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Jersey United States continued 6,246 Aptiv Plc 494,184 0.08 47,018 Altria Group Inc* 2,674,384 0.41 494,184 0.08 10,299 Amazon.com Inc 18,339,944 2.83 215 AMERCO 80,952 0.01 Liberia 6,371 Ameren Corp 466,867 0.07 4,393 Royal Caribbean Cruises Ltd 498,825 0.08 2,127 American Airlines Group Inc 66,703 0.01 12,397 American Electric Power Co Inc 1,038,497 0.16 498,825 0.08 17,954 American Express Co* 1,972,786 0.30 1,760 American Financial Group Inc/OH 168,749 0.03 Netherlands 22,388 American International Group Inc 963,356 0.15 7,794 LyondellBasell Industries NV ‘A’ 651,267 0.10 10,800 American Tower Corp (Reit)* 2,106,000 0.32 12,259 Mylan NV 347,665 0.05 4,373 American Water Works Co Inc* 456,323 0.07 998,932 0.15 3,379 Ameriprise Financial Inc 432,039 0.07 3,701 AmerisourceBergen Corp 290,491 0.04 Panama 6,029 AMETEK Inc 498,478 0.08 9,929 Carnival Corp 500,918 0.08 15,881 Amgen Inc 3,014,928 0.47 7,683 Amphenol Corp ‘A’ 722,509 0.11 500,918 0.08 12,198 Anadarko Petroleum Corp 554,521 0.09 9,137 Analog Devices Inc* 958,471 0.15 Singapore 34,662 Annaly Capital Management 12,309 Flex Ltd 122,905 0.02 Inc (Reit) 346,447 0.05 122,905 0.02 2,098 ANSYS Inc 381,668 0.06 6,364 Anthem Inc 1,803,367 0.28 Switzerland 3,998 AO Smith Corp 213,013 0.03 11,327 Chubb Ltd 1,581,929 0.24 9,956 Apache Corp 348,161 0.05 2,914 Garmin Ltd 249,642 0.04 117,639 Apple Inc 22,217,302 3.43 8,199 TE Connectivity Ltd 659,036 0.10 23,876 Applied Materials Inc 940,237 0.15 5,296 Aramark 156,709 0.02 2,490,607 0.38 14,277 Archer-Daniels-Midland Co 611,912 0.09 10,555 Arconic Inc 202,550 0.03 United Kingdom 1,218 Arista Networks Inc 380,856 0.06 5,993 Aon Plc 1,017,431 0.16 2,655 Arrow Electronics Inc 204,939 0.03 5,643 Liberty Global Plc ‘A’ 140,172 0.02 4,356 Arthur J Gallagher & Co 337,372 0.05 13,628 Liberty Global Plc ‘C’* 328,980 0.05 1,715 Assurant Inc 162,565 0.03 9,582 Nielsen Holdings Plc 226,423 0.03 180,344 AT&T Inc 5,614,109 0.87 4,015 Sensata Technologies Holding Plc* 180,153 0.03 3,048 Atmos Energy Corp 313,060 0.05 10,953 TechnipFMC Plc* 256,629 0.04 5,553 Autodesk Inc* 861,548 0.13 2,149,788 0.33 2,035 Autoliv Inc 149,511 0.02 10,778 Automatic Data Processing Inc 1,712,948 0.26 United States 654 AutoZone Inc 662,672 0.10 14,366 3M Co* 2,970,314 0.46 3,494 AvalonBay Communities Inc (Reit) 701,770 0.11 43,582 Abbott Laboratories* 3,456,924 0.53 2,201 Avery Dennison Corp 248,647 0.04 37,416 AbbVie Inc* 3,008,995 0.46 5,577 AXA Equitable Holdings Inc 111,875 0.02 990 ABIOMED Inc 283,140 0.04 12,330 Baker Hughes a GE Co 337,842 0.05 17,753 Activision Blizzard Inc 799,950 0.12 8,321 Ball Corp 483,117 0.07 895 Acuity Brands Inc 107,078 0.02 231,096 Bank of America Corp* 6,320,476 0.98 12,002 Adobe Inc 3,188,331 0.49 24,551 Bank of New York Mellon Corp/The 1,236,143 0.19 1,893 Advance Auto Parts Inc 321,867 0.05 12,229 Baxter International Inc 986,024 0.15 23,667 Advanced Micro Devices Inc 600,195 0.09 19,290 BB&T Corp 896,792 0.14 15,389 AES Corp/VA* 278,695 0.04 6,569 Becton Dickinson and Co* 1,629,243 0.25 1,338 Affiliated Managers Group Inc 143,019 0.02 31,956 Berkshire Hathaway Inc ‘B’ 6,407,498 0.99 18,990 Aflac Inc 945,132 0.15 6,381 Best Buy Co Inc 453,179 0.07 8,162 Agilent Technologies Inc 653,123 0.10 5,074 Biogen Inc 1,190,817 0.18 13,945 AGNC Investment Corp (Reit) 251,428 0.04 4,632 BioMarin Pharmaceutical Inc 409,145 0.06 5,440 Air Products & Chemicals Inc 1,028,704 0.16 2,929 BlackRock Inc* 1,251,269 0.19 4,164 Akamai Technologies Inc 297,268 0.05 13,371 Boeing Co/The 5,076,701 0.78 2,582 Albemarle Corp* 209,658 0.03 1,152 Booking Holdings Inc* 2,008,846 0.31 2,813 Alexandria Real Estate Equities 4,581 BorgWarner Inc 176,094 0.03 Inc (Reit) 401,725 0.06 3,951 Boston Properties Inc (Reit) 529,671 0.08 5,315 Alexion Pharmaceuticals Inc 711,785 0.11 34,048 Boston Scientific Corp 1,298,931 0.20 2,003 Align Technology Inc 561,080 0.09 2,072 Brighthouse Financial Inc 75,079 0.01 409 Alleghany Corp* 251,114 0.04 40,886 Bristol-Myers Squibb Co 1,924,095 0.30 1,221 Alliance Data Systems Corp 211,746 0.03 10,277 Broadcom Inc 3,081,867 0.48 5,765 Alliant Energy Corp 271,070 0.04 2,807 Broadridge Financial Solutions Inc 288,560 0.04 8,664 Allstate Corp/The 813,463 0.13 2,264 Brookfield Property REIT 9,616 Ally Financial Inc 264,344 0.04 Inc ‘A’ (Reit) 46,842 0.01 2,229 Alnylam Pharmaceuticals Inc 208,144 0.03 6,415 Brown-Forman Corp ‘B’ 336,338 0.05 7,408 Alphabet Inc ‘A’ 8,653,655 1.34 1,583 Burlington Stores Inc 246,980 0.04 7,798 Alphabet Inc ‘C’ 9,089,037 1.40 11,586 Cabot Oil & Gas Corp 302,510 0.05 8,196 Altice USA Inc ‘A’ 174,698 0.03 6,904 Cadence Design Systems Inc 435,504 0.07
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [119] iShares North America Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 2,102 Camden Property Trust (Reit) 213,900 0.03 4,101 Delta Air Lines Inc 210,053 0.03 5,057 Campbell Soup Co 191,357 0.03 5,827 Dentsply Sirona Inc 287,271 0.04 11,958 Capital One Financial Corp 980,795 0.15 12,591 Devon Energy Corp 400,394 0.06 7,382 Cardinal Health Inc 351,826 0.05 2,056 DexCom Inc 243,554 0.04 4,949 CarMax Inc 341,877 0.05 3,627 Diamondback Energy Inc 371,151 0.06 14,567 Caterpillar Inc 1,964,797 0.30 5,111 Digital Realty Trust Inc (Reit)* 609,231 0.09 2,797 Cboe Global Markets Inc 265,771 0.04 8,172 Discover Financial Services 584,543 0.09 7,711 CBRE Group Inc ‘A’* 380,307 0.06 4,859 Discovery Inc ‘A’ 131,144 0.02 8,884 CBS Corp ‘B non-voting share’ 421,013 0.07 6,878 Discovery Inc ‘C’ 174,908 0.03 3,008 CDK Global Inc 175,457 0.03 5,807 DISH Network Corp ‘A’ 181,091 0.03 3,747 CDW Corp/DE 359,712 0.06 6,752 Dollar General Corp 805,581 0.12 3,646 Celanese Corp* 358,110 0.06 6,045 Dollar Tree Inc* 626,081 0.10 17,429 Celgene Corp 1,622,466 0.25 18,755 Dominion Energy Inc* 1,419,941 0.22 10,155 Centene Corp 533,137 0.08 921 Domino’s Pizza Inc 238,032 0.04 13,067 CenterPoint Energy Inc 399,589 0.06 3,838 Dover Corp 359,697 0.06 25,316 CenturyLink Inc 303,412 0.05 56,441 DowDuPont Inc 2,911,227 0.45 7,716 Cerner Corp 438,037 0.07 9,349 DR Horton Inc 389,620 0.06 5,626 CF Industries Holdings Inc 227,009 0.04 4,652 DTE Energy Co 577,174 0.09 3,425 CH Robinson Worldwide Inc 297,119 0.05 17,431 Duke Energy Corp 1,559,203 0.24 29,804 Charles Schwab Corp/The 1,275,909 0.20 8,171 Duke Realty Corp (Reit) 251,013 0.04 3,978 Charter Communications Inc ‘A’ 1,377,422 0.21 6,590 DXC Technology Co 426,373 0.07 4,396 Chemours Co/The 161,817 0.02 5,743 E*TRADE Financial Corp 266,533 0.04 5,269 Cheniere Energy Inc* 353,919 0.05 3,587 East West Bancorp Inc 173,324 0.03 47,468 Chevron Corp 5,818,627 0.90 3,176 Eastman Chemical Co 240,582 0.04 635 Chipotle Mexican Grill Inc 446,211 0.07 3,309 Eaton Vance Corp 133,783 0.02 6,324 Church & Dwight Co Inc 447,739 0.07 22,557 eBay Inc 832,128 0.13 9,315 CIGNA Corp 1,482,389 0.23 6,493 Ecolab Inc 1,140,041 0.18 2,485 Cimarex Energy Co 174,149 0.03 8,603 Edison International 534,504 0.08 3,754 Cincinnati Financial Corp 321,042 0.05 5,288 Edwards Lifesciences Corp 1,003,345 0.15 2,329 Cintas Corp 466,569 0.07 6,378 Elanco Animal Health Inc* 206,265 0.03 111,426 Cisco Systems Inc 5,951,263 0.92 7,288 Electronic Arts Inc 738,493 0.11 3,022 CIT Group Inc 145,781 0.02 21,967 Eli Lilly & Co 2,846,264 0.44 60,801 Citigroup Inc 3,784,254 0.58 15,595 Emerson Electric Co 1,060,148 0.16 11,159 Citizens Financial Group Inc 363,114 0.06 4,669 Entergy Corp 445,096 0.07 3,097 Citrix Systems Inc 309,483 0.05 14,160 EOG Resources Inc* 1,347,890 0.21 3,186 Clorox Co/The* 508,358 0.08 3,164 Equifax Inc 372,150 0.06 9,034 CME Group Inc 1,475,975 0.23 2,009 Equinix Inc (Reit)* 897,260 0.14 7,042 CMS Energy Corp 389,423 0.06 9,140 Equity Residential (Reit) 689,339 0.11 100,238 Coca-Cola Co/The 4,673,597 0.72 1,696 Essex Property Trust Inc (Reit) 492,451 0.08 4,388 Cognex Corp 222,735 0.03 5,340 Estee Lauder Cos Inc/The ‘A’* 877,629 0.14 14,460 Cognizant Technology Solutions 6,875 Evergy Inc 399,850 0.06 Corp ‘A’* 1,045,458 0.16 8,288 Eversource Energy 585,464 0.09 20,207 Colgate-Palmolive Co 1,365,791 0.21 23,888 Exelon Corp 1,193,444 0.18 112,505 Comcast Corp ‘A’* 4,467,574 0.69 2,822 Expedia Group Inc 338,104 0.05 3,900 Comerica Inc 284,973 0.04 3,935 Expeditors International of 4,444 CommScope Holding Co Inc 95,635 0.01 Washington Inc 297,447 0.05 11,151 Conagra Brands Inc* 307,322 0.05 2,969 Extra Space Storage Inc (Reit) 303,432 0.05 5,129 Concho Resources Inc* 571,473 0.09 104,911 Exxon Mobil Corp 8,457,925 1.30 28,443 ConocoPhillips 1,909,379 0.29 1,358 F5 Networks Inc 213,192 0.03 7,729 Consolidated Edison Inc 653,719 0.10 59,535 Facebook Inc ‘A’ 9,831,015 1.52 4,200 Constellation Brands Inc ‘A’* 728,826 0.11 7,447 Fastenal Co* 477,129 0.07 1,996 Continental Resources Inc/OK 89,960 0.01 1,824 Federal Realty Investment 1,185 Cooper Cos Inc/The 349,883 0.05 Trust (Reit) 253,518 0.04 4,916 Copart Inc* 296,042 0.05 6,171 FedEx Corp* 1,116,828 0.17 20,597 Corning Inc 680,319 0.11 6,840 Fidelity National Financial Inc 251,233 0.04 880 CoStar Group Inc 409,182 0.06 8,051 Fidelity National Information 10,944 Costco Wholesale Corp* 2,636,738 0.41 Services Inc 904,610 0.14 12,551 Coty Inc ‘A’* 143,583 0.02 19,274 Fifth Third Bancorp 488,981 0.08 10,157 Crown Castle International 14,757 First Data Corp ‘A’ 387,224 0.06 Corp (Reit) 1,289,939 0.20 4,297 First Republic Bank/CA 434,899 0.07 4,044 Crown Holdings Inc 222,016 0.03 12,846 FirstEnergy Corp 532,467 0.08 19,605 CSX Corp 1,467,042 0.23 10,128 Fiserv Inc 892,074 0.14 3,702 Cummins Inc 581,621 0.09 2,138 FleetCor Technologies Inc 525,413 0.08 32,395 CVS Health Corp 1,732,128 0.27 2,889 FLIR Systems Inc 136,852 0.02 15,449 Danaher Corp* 2,015,940 0.31 3,824 Flowserve Corp 173,112 0.03 3,301 Darden Restaurants Inc 402,689 0.06 3,483 Fluor Corp 129,080 0.02 3,650 DaVita Inc 196,662 0.03 3,381 FMC Corp 258,883 0.04 7,550 Deere & Co* 1,209,887 0.19 92,389 Ford Motor Co 807,480 0.12 3,404 Dell Technologies Inc ‘C’ 196,547 0.03 3,867 Fortinet Inc 322,121 0.05
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[120] BlackRock Global Index Funds (BGIF) iShares North America Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 7,163 Fortive Corp* 598,325 0.09 2,205 JB Hunt Transport Services Inc* 223,433 0.03 3,932 Fortune Brands Home & 8,046 Jefferies Financial Group Inc 151,184 0.02 Security Inc 186,259 0.03 2,770 JM Smucker Co/The* 321,514 0.05 8,586 Fox Corp ‘A’* 311,243 0.05 66,462 Johnson & Johnson 9,245,529 1.43 3,670 Fox Corp ‘B’* 130,028 0.02 1,210 Jones Lang LaSalle Inc* 187,974 0.03 8,305 Franklin Resources Inc 275,394 0.04 82,412 JPMorgan Chase & Co 8,310,426 1.28 36,575 Freeport-McMoRan Inc* 468,709 0.07 7,827 Juniper Networks Inc 206,085 0.03 5,887 Gap Inc/The 154,593 0.02 2,566 Kansas City Southern 301,223 0.05 2,454 Gartner Inc* 371,683 0.06 6,825 Kellogg Co 389,366 0.06 213,978 General Electric Co* 2,129,295 0.33 24,447 KeyCorp 385,407 0.06 14,354 General Mills Inc 738,513 0.11 4,357 Keysight Technologies Inc 378,144 0.06 31,079 General Motors Co* 1,158,625 0.18 8,598 Kimberly-Clark Corp 1,060,305 0.16 3,838 Genuine Parts Co 429,165 0.07 12,214 Kimco Realty Corp (Reit) 226,936 0.04 32,494 Gilead Sciences Inc 2,120,883 0.33 48,978 Kinder Morgan Inc/DE 976,132 0.15 3,818 Global Payments Inc 519,095 0.08 12,110 KKR & Co Inc ‘A’* 282,163 0.04 4,544 GoDaddy Inc ‘A’ 341,254 0.05 4,191 KLA-Tencor Corp 495,418 0.08 8,326 Goldman Sachs Group Inc/The 1,593,846 0.25 2,552 Knight-Swift Transportation 6,208 Goodyear Tire & Rubber Co/The 112,737 0.02 Holdings Inc* 83,450 0.01 2,111 GrubHub Inc 144,582 0.02 4,640 Kohl’s Corp 320,531 0.05 4,271 H&R Block Inc 102,675 0.02 15,830 Kraft Heinz Co/The* 516,533 0.08 20,686 Halliburton Co 603,824 0.09 20,016 Kroger Co/The 492,093 0.08 8,326 Hanesbrands Inc 149,035 0.02 5,876 L Brands Inc* 163,177 0.03 4,182 Harley-Davidson Inc 150,343 0.02 2,320 Laboratory Corp of America Holdings 352,083 0.05 2,747 Harris Corp 440,042 0.07 3,785 Lam Research Corp* 674,487 0.10 8,337 Hartford Financial Services 3,418 Lamb Weston Holdings Inc 254,265 0.04 Group Inc/The 412,098 0.06 10,149 Las Vegas Sands Corp 615,435 0.09 2,861 Hasbro Inc* 244,244 0.04 1,480 Lear Corp* 201,236 0.03 6,782 HCA Healthcare Inc 879,897 0.14 4,076 Leggett & Platt Inc 173,067 0.03 12,344 HCP Inc (Reit) 389,206 0.06 3,560 Leidos Holdings Inc 229,086 0.04 4,746 HD Supply Holdings Inc 203,319 0.03 7,589 Lennar Corp ‘A’* 375,580 0.06 2,608 Helmerich & Payne Inc 145,709 0.02 911 Lennox International Inc 240,495 0.04 4,124 Henry Schein Inc* 245,708 0.04 2,594 Liberty Broadband Corp ‘C’* 237,403 0.04 3,619 Hershey Co/The 414,339 0.06 4,399 Liberty Media Corp-Liberty 6,174 Hess Corp* 375,750 0.06 Formula One ‘C’ 153,041 0.02 37,066 Hewlett Packard Enterprise Co 571,558 0.09 2,499 Liberty Media Corp-Liberty 6,774 Hilton Worldwide Holdings Inc* 564,410 0.09 SiriusXM ‘A’ 93,862 0.01 4,215 HollyFrontier Corp 210,202 0.03 3,907 Liberty Media Corp-Liberty 6,939 Hologic Inc 330,574 0.05 SiriusXM ‘C’ 147,099 0.02 27,989 Home Depot Inc/The 5,346,739 0.82 4,269 Liberty Property Trust (Reit) 208,156 0.03 18,213 Honeywell International Inc 2,878,747 0.44 5,509 Lincoln National Corp 323,213 0.05 6,909 Hormel Foods Corp* 306,069 0.05 3,550 Live Nation Entertainment Inc 225,745 0.03 17,050 Host Hotels & Resorts Inc (Reit) 324,547 0.05 7,722 LKQ Corp 218,687 0.03 37,735 HP Inc 728,097 0.11 7,343 Loews Corp 351,803 0.05 3,395 Humana Inc 892,681 0.14 19,848 Lowe’s Cos Inc* 2,169,188 0.33 25,144 Huntington Bancshares Inc/OH* 320,837 0.05 2,526 Lululemon Athletica Inc 416,335 0.06 1,158 Huntington Ingalls Industries Inc 239,735 0.04 3,422 M&T Bank Corp 539,033 0.08 1,823 IAC Via InterActive Corp 382,174 0.06 2,870 Macerich Co/The (Reit) 125,103 0.02 1,964 IDEX Corp* 297,261 0.05 6,933 Macy’s Inc* 166,323 0.03 2,227 IDEXX Laboratories Inc 493,036 0.08 1,511 ManpowerGroup Inc 124,990 0.02 7,544 Illinois Tool Works Inc 1,082,413 0.17 20,792 Marathon Oil Corp 347,850 0.05 3,582 Illumina Inc* 1,098,134 0.17 17,065 Marathon Petroleum Corp 1,020,828 0.16 4,322 Incyte Corp 371,908 0.06 373 Markel Corp 372,608 0.06 1,642 Ingredion Inc 153,839 0.02 7,159 Marriott International Inc/MD ‘A’ 893,944 0.14 113,106 Intel Corp 6,060,219 0.93 12,364 Marsh & McLennan Cos Inc 1,153,932 0.18 14,040 Intercontinental Exchange Inc 1,059,318 0.16 1,410 Martin Marietta Materials Inc 284,651 0.04 22,400 International Business 8,089 Masco Corp 318,383 0.05 Machines Corp 3,143,392 0.48 22,771 Mastercard Inc ‘A’ 5,342,304 0.82 1,939 International Flavors & 7,649 Mattel Inc 99,361 0.02 Fragrances Inc 249,258 0.04 6,455 Maxim Integrated Products Inc 342,373 0.05 9,018 International Paper Co 414,287 0.06 2,867 McCormick & Co Inc/MD 10,954 Interpublic Group of Cos Inc/The 229,486 0.04 ‘non-voting share’ 428,961 0.07 6,199 Intuit Inc 1,611,616 0.25 19,153 McDonald’s Corp* 3,636,197 0.56 2,798 Intuitive Surgical Inc 1,579,471 0.24 4,625 McKesson Corp 537,009 0.08 9,409 Invitation Homes Inc (Reit) 228,639 0.04 1,116 MercadoLibre Inc 563,837 0.09 910 IPG Photonics Corp 137,355 0.02 64,440 Merck & Co Inc 5,350,131 0.83 4,032 IQVIA Holdings Inc 575,084 0.09 20,086 MetLife Inc 855,563 0.13 6,438 Iron Mountain Inc (Reit) 230,094 0.04 583 Mettler-Toledo International Inc 416,740 0.06 1,920 Jack Henry & Associates Inc 265,978 0.04 12,379 MGM Resorts International 320,616 0.05 3,250 Jacobs Engineering Group Inc* 244,563 0.04 6,217 Microchip Technology Inc 511,783 0.08
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [121] iShares North America Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 28,397 Micron Technology Inc 1,165,981 0.18 12,765 Public Service Enterprise Group Inc 752,369 0.12 180,629 Microsoft Corp 21,162,494 3.26 3,963 Public Storage (Reit) 865,757 0.13 2,803 Mid-America Apartment 6,309 PulteGroup Inc 178,482 0.03 Communities Inc (Reit) 306,704 0.05 1,883 PVH Corp 231,138 0.04 1,362 Middleby Corp/The 175,589 0.03 3,195 Qorvo Inc* 227,580 0.04 1,407 Mohawk Industries Inc 177,760 0.03 30,084 QUALCOMM Inc 1,716,894 0.26 4,651 Molson Coors Brewing Co ‘B’* 278,688 0.04 3,330 Quest Diagnostics Inc* 298,668 0.05 36,062 Mondelez International Inc ‘A’ 1,786,151 0.28 11,034 Qurate Retail Inc 176,378 0.03 9,958 Monster Beverage Corp 537,632 0.08 1,652 Ralph Lauren Corp 214,826 0.03 4,314 Moody’s Corp* 778,375 0.12 2,913 Raymond James Financial Inc 233,623 0.04 31,992 Morgan Stanley 1,346,543 0.21 7,023 Raytheon Co 1,274,674 0.20 9,115 Mosaic Co/The 250,116 0.04 7,570 Realty Income Corp (Reit) 555,789 0.09 4,041 Motorola Solutions Inc 564,406 0.09 4,495 Red Hat Inc 819,888 0.13 2,364 MSCI Inc 467,528 0.07 3,872 Regency Centers Corp (Reit) 263,257 0.04 2,926 Nasdaq Inc 255,440 0.04 1,997 Regeneron Pharmaceuticals Inc 818,031 0.13 9,321 National Oilwell Varco Inc* 246,913 0.04 26,586 Regions Financial Corp 376,458 0.06 4,406 National Retail Properties Inc (Reit)* 244,709 0.04 1,943 Reinsurance Group of America Inc 275,420 0.04 3,756 Nektar Therapeutics 125,150 0.02 5,885 Republic Services Inc 472,095 0.07 6,105 NetApp Inc 417,765 0.06 3,721 ResMed Inc 384,826 0.06 10,855 Netflix Inc* 3,851,788 0.59 2,587 Robert Half International Inc 168,802 0.03 10,632 Newell Brands Inc 162,138 0.03 2,934 Rockwell Automation Inc 513,978 0.08 13,676 Newmont Mining Corp 491,242 0.08 3,049 Rollins Inc* 127,448 0.02 7,770 News Corp ‘A’ 96,076 0.01 2,614 Roper Technologies Inc* 888,237 0.14 11,843 NextEra Energy Inc* 2,278,238 0.35 9,334 Ross Stores Inc 865,915 0.13 31,393 NIKE Inc ‘B’ 2,657,417 0.41 6,158 S&P Global Inc* 1,291,887 0.20 8,682 NiSource Inc 249,260 0.04 5,712 Sabre Corp 122,065 0.02 12,002 Noble Energy Inc 299,330 0.05 18,974 salesforce.com Inc 2,990,872 0.46 3,015 Nordstrom Inc 134,469 0.02 2,662 SBA Communications Corp (Reit) 521,512 0.08 6,834 Norfolk Southern Corp* 1,277,890 0.20 3,864 Sealed Air Corp 179,251 0.03 4,935 Northern Trust Corp 446,075 0.07 3,140 Seattle Genetics Inc* 226,991 0.04 7,016 NRG Energy Inc 298,671 0.05 2,748 SEI Investments Co 143,775 0.02 8,128 Nucor Corp 473,700 0.07 6,695 Sempra Energy* 836,808 0.13 14,432 NVIDIA Corp 2,575,102 0.40 4,402 ServiceNow Inc* 1,079,767 0.17 93 NVR Inc 260,606 0.04 2,111 Sherwin-Williams Co/The 907,287 0.14 1,984 O’Reilly Automotive Inc 769,911 0.12 1,226 Signature Bank/New York NY 158,718 0.02 18,872 Occidental Petroleum Corp 1,251,591 0.19 7,587 Simon Property Group Inc (Reit) 1,389,559 0.21 4,996 OGE Energy Corp 214,928 0.03 39,635 Sirius XM Holdings Inc 223,541 0.03 1,446 Old Dominion Freight Line Inc 209,135 0.03 4,253 Skyworks Solutions Inc* 347,428 0.05 5,232 Omnicom Group Inc 382,355 0.06 2,284 SL Green Realty Corp (Reit) 205,720 0.03 10,065 ON Semiconductor Corp 206,433 0.03 1,399 Snap-on Inc 217,545 0.03 9,860 ONEOK Inc* 685,171 0.11 25,858 Southern Co/The 1,331,687 0.21 65,931 Oracle Corp* 3,521,375 0.54 3,689 Southwest Airlines Co 188,471 0.03 2,745 Owens Corning 129,674 0.02 2,966 Spirit AeroSystems Holdings Inc ‘A’* 271,537 0.04 8,311 PACCAR Inc 567,475 0.09 3,517 Splunk Inc 438,007 0.07 2,359 Packaging Corp of America 232,314 0.04 24,936 Sprint Corp 138,021 0.02 2,438 Palo Alto Networks Inc 585,656 0.09 7,940 Square Inc ‘A’ 594,309 0.09 3,399 Parker-Hannifin Corp 581,841 0.09 5,424 SS&C Technologies Holdings Inc 343,014 0.05 5,416 Parsley Energy Inc ‘A’ 104,854 0.02 3,913 Stanley Black & Decker Inc 531,503 0.08 8,139 Paychex Inc 648,922 0.10 30,838 Starbucks Corp* 2,281,087 0.35 27,554 PayPal Holdings Inc 2,859,279 0.44 9,459 State Street Corp 625,429 0.10 8,903 People’s United Financial Inc 147,167 0.02 5,322 Steel Dynamics Inc 187,122 0.03 34,979 PepsiCo Inc* 4,257,294 0.66 8,291 Stryker Corp* 1,625,368 0.25 143,281 Pfizer Inc* 6,050,757 0.93 10,782 SunTrust Banks Inc 639,265 0.10 38,746 Philip Morris International Inc 3,408,873 0.53 1,458 SVB Financial Group 325,324 0.05 11,031 Phillips 66 1,042,981 0.16 15,443 Symantec Corp 353,490 0.05 2,568 Pinnacle West Capital Corp 244,987 0.04 16,807 Synchrony Financial 537,656 0.08 4,307 Pioneer Natural Resources Co 661,684 0.10 3,844 Synopsys Inc 438,370 0.07 4,698 Plains GP Holdings LP ‘A’ 116,510 0.02 12,094 Sysco Corp 801,469 0.12 11,535 PNC Financial Services 6,167 T Rowe Price Group Inc 613,987 0.09 Group Inc/The 1,417,767 0.22 8,736 T-Mobile US Inc* 596,669 0.09 1,606 Polaris Industries Inc 136,060 0.02 1,795 Tableau Software Inc ‘A’ 225,937 0.03 5,953 PPG Industries Inc* 669,117 0.10 2,724 Take-Two Interactive Software Inc 257,881 0.04 17,393 PPL Corp* 550,054 0.08 7,094 Tapestry Inc 234,386 0.04 6,528 Principal Financial Group Inc* 327,118 0.05 6,140 Targa Resources Corp* 253,643 0.04 61,734 Procter & Gamble Co/The 6,372,183 0.98 12,369 Target Corp* 993,973 0.15 14,530 Progressive Corp/The* 1,051,972 0.16 7,011 TD Ameritrade Holding Corp 352,373 0.05 15,416 Prologis Inc (Reit) 1,108,719 0.17 1,216 Teleflex Inc 364,374 0.06 10,429 Prudential Financial Inc 957,486 0.15 3,166 Tesla Inc* 880,528 0.14 2,613 PTC Inc* 239,873 0.04 23,833 Texas Instruments Inc 2,515,811 0.39
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[122] BlackRock Global Index Funds (BGIF) iShares North America Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 10,065 Thermo Fisher Scientific Inc 2,726,508 0.42 1,297 Wayfair Inc ‘A’ 196,742 0.03 2,613 Tiffany & Co* 274,705 0.04 7,890 WEC Energy Group Inc* 620,312 0.10 30,604 TJX Cos Inc/The 1,626,909 0.25 1,156 WellCare Health Plans Inc 310,906 0.05 2,612 Torchmark Corp 214,027 0.03 110,883 Wells Fargo & Co 5,334,027 0.82 4,417 Total System Services Inc 420,896 0.06 9,336 Welltower Inc (Reit) 728,115 0.11 3,320 Tractor Supply Co 322,073 0.05 6,745 Western Digital Corp 322,816 0.05 1,216 TransDigm Group Inc* 549,413 0.08 9,513 Western Union Co/The 177,703 0.03 5,055 TransUnion* 335,804 0.05 803 Westlake Chemical Corp 54,331 0.01 6,620 Travelers Cos Inc/The 907,205 0.14 5,701 WestRock Co 216,353 0.03 5,556 Trimble Inc 224,296 0.03 17,607 Weyerhaeuser Co (Reit) 468,170 0.07 2,981 TripAdvisor Inc 154,177 0.02 1,653 Whirlpool Corp 219,105 0.03 17,510 Twitter Inc* 571,877 0.09 30,712 Williams Cos Inc/The 877,903 0.14 7,517 Tyson Foods Inc ‘A’ 516,944 0.08 3,770 Workday Inc ‘A’ 728,892 0.11 6,734 UDR Inc (Reit) 307,003 0.05 7,469 Worldpay Inc ‘A’ 839,366 0.13 4,143 UGI Corp 229,771 0.04 3,709 WP Carey Inc (Reit) 290,266 0.04 1,347 Ulta Salon Cosmetics & 2,319 WR Berkley Corp* 196,906 0.03 Fragrance Inc* 468,527 0.07 1,282 WW Grainger Inc 379,126 0.06 5,486 Under Armour Inc ‘A’ 117,894 0.02 2,612 Wynn Resorts Ltd 313,074 0.05 5,524 Under Armour Inc ‘C’ 105,564 0.02 12,678 Xcel Energy Inc 711,109 0.11 18,156 Union Pacific Corp 3,031,507 0.47 5,447 Xerox Corp 174,740 0.03 1,496 United Continental Holdings Inc 118,857 0.02 6,412 Xilinx Inc* 817,658 0.13 17,021 United Parcel Service Inc ‘B’ 1,898,182 0.29 2,824 XPO Logistics Inc 153,004 0.02 1,871 United Rentals Inc 213,144 0.03 4,822 Xylem Inc/NY 379,395 0.06 20,511 United Technologies Corp* 2,622,126 0.40 7,506 Yum! Brands Inc* 748,498 0.12 880 United Therapeutics Corp 103,840 0.02 5,375 Zayo Group Holdings Inc 152,543 0.02 23,854 UnitedHealth Group Inc 5,819,541 0.90 3,014 Zillow Group Inc ‘C’* 103,983 0.02 2,127 Universal Health Services Inc ‘B’ 284,848 0.04 5,112 Zimmer Biomet Holdings Inc 647,435 0.10 5,632 Unum Group 190,587 0.03 4,360 Zions Bancorp NA 198,031 0.03 37,931 US Bancorp 1,822,585 0.28 12,106 Zoetis Inc 1,211,568 0.19 974 Vail Resorts Inc 213,024 0.03 583,852,484 90.07 10,600 Valero Energy Corp 889,340 0.14 2,308 Varian Medical Systems Inc 327,297 0.05 Total Common Stocks (Shares) 643,193,022 99.23 3,095 Veeva Systems Inc ‘A’ 389,691 0.06 Total Transferable Securities and Money 9,081 Ventas Inc (Reit) 582,001 0.09 Market Instruments Admitted to an 23,846 VEREIT Inc (Reit) 200,426 0.03 Official Stock Exchange Listing or 2,565 VeriSign Inc 465,958 0.07 Dealt in on Another Regulated Market 643,193,022 99.23 3,891 Verisk Analytics Inc 517,581 0.08 102,389 Verizon Communications Inc* 6,019,449 0.93 6,315 Vertex Pharmaceuticals Inc 1,151,161 0.18 Other Transferable Securities and Money Market Instruments 8,476 VF Corp 742,498 0.11 8,629 Viacom Inc ‘B’ 237,815 0.04 COMMON STOCKS (SHARES) 43,609 Visa Inc ‘A’* 6,762,448 1.04 8,692 Vistra Energy Corp 225,731 0.03 Canada 2,095 VMware Inc ‘A’ 373,957 0.06 5,138 TELUS Corp 189,742 0.03 4,587 Vornado Realty Trust (Reit)* 310,311 0.05 189,742 0.03 3,687 Voya Financial Inc 185,345 0.03 3,025 Vulcan Materials Co 356,829 0.06 Total Common Stocks (Shares) 189,742 0.03 1,210 WABCO Holdings Inc 159,660 0.02 Total Other Transferable Securities 3,374 Wabtec Corp 246,639 0.04 and Money Market Instruments 189,742 0.03 19,648 Walgreens Boots Alliance Inc 1,247,844 0.19 Securities portfolio at market value 643,382,764 99.26 36,106 Walmart Inc* 3,510,947 0.54 44,566 Walt Disney Co/The 4,926,771 0.76 Other Net Assets 4,817,661 0.74 10,632 Waste Management Inc* 1,100,518 0.17 1,857 Waters Corp 464,436 0.07 Total Net Assets (USD) 648,200,425 100.00
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [123] iShares North America Equity Index Fund (LU) continued
Futures contracts as at 31 March 2019
Gross underlying Net unrealised Number of Currency Contract/ Expiration exposure (depreciation) contracts of contract Description date USD USD 32 USD E-Mini S&P 500 Index June 2019 4,520,000 (22,600) 2 CAD S&P/TSX 60 Index June 2019 286,570 (1,722) Total 4,806,570 (24,322)
Sector Breakdown as at 31 March 2019
% of Net Assets Consumer, Non-cyclical 21.23 Financial 18.46 Technology 16.04 Communications 14.58 Industrial 8.73 Consumer, Cyclical 8.35 Energy 6.15 Utilities 3.20 Basic Materials 2.52 Securities portfolio at market value 99.26 Other Net Assets 0.74 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
[124] BlackRock Global Index Funds (BGIF) iShares Pacific ex Japan Equity Index Fund (LU)
iShares Pacific ex Japan Equity Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
COMMON STOCKS (SHARES) Australia continued 21,639 Washington H Soul Pattinson & Australia Co Ltd 403,536 0.12 129,523 AGL Energy Ltd 1,998,615 0.58 223,479 Wesfarmers Ltd 5,488,627 1.59 473,234 Alumina Ltd 811,736 0.24 676,995 Westpac Banking Corp* 12,437,819 3.61 229,473 Amcor Ltd/Australia* 2,503,191 0.73 184,514 Woodside Petroleum Ltd 4,527,726 1.31 567,844 AMP Ltd 845,225 0.25 259,663 Woolworths Group Ltd 5,595,095 1.62 232,406 APA Group (Unit)* 1,643,999 0.48 64,788 WorleyParsons Ltd 650,252 0.19 113,748 Aristocrat Leisure Ltd 1,976,109 0.57 38,192 ASX Ltd 1,890,603 0.55 183,421,247 53.24 388,997 Aurizon Holdings Ltd 1,254,531 0.36 363,008 AusNet Services 456,708 0.13 Bermuda 565,227 Australia & New Zealand Banking 128,000 CK Infrastructure Holdings Ltd* 1,050,911 0.31 Group Ltd* 10,428,476 3.03 62,900 Dairy Farm International Holdings Ltd 527,731 0.15 80,707 Bank of Queensland Ltd* 520,567 0.15 229,600 Hongkong Land Holdings Ltd 1,632,456 0.47 93,275 Bendigo & Adelaide Bank Ltd* 639,977 0.19 43,700 Jardine Matheson Holdings Ltd 2,725,132 0.79 580,626 BHP Group Ltd* 15,840,474 4.60 43,600 Jardine Strategic Holdings Ltd* 1,631,948 0.47 104,374 BlueScope Steel Ltd 1,032,025 0.30 122,000 Kerry Properties Ltd 544,730 0.16 222,819 Boral Ltd 724,918 0.21 313,006 NWS Holdings Ltd 684,231 0.20 312,055 Brambles Ltd 2,601,131 0.75 252,000 Shangri-La Asia Ltd 358,260 0.10 50,559 Caltex Australia Ltd 939,267 0.27 146,000 Yue Yuen Industrial Holdings Ltd 502,169 0.15 110,492 Challenger Ltd* 648,463 0.19 9,657,568 2.80 19,524 CIMIC Group Ltd 667,851 0.19 101,801 Coca-Cola Amatil Ltd 624,154 0.18 Cayman Islands 11,324 Cochlear Ltd 1,390,824 0.40 57,200 ASM Pacific Technology Ltd* 637,948 0.18 223,643 Coles Group Ltd* 1,878,440 0.55 6,337 BeiGene Ltd ADR 818,107 0.24 348,919 Commonwealth Bank of Australia 17,470,249 5.07 511,043 CK Asset Holdings Ltd 4,544,080 1.32 89,877 Computershare Ltd 1,088,078 0.32 534,043 CK Hutchison Holdings Ltd 5,609,188 1.63 74,681 Crown Resorts Ltd 609,269 0.18 48,371 Melco Resorts & Entertainment 89,278 CSL Ltd 12,335,853 3.58 Ltd ADR 1,081,092 0.31 204,265 Dexus (Reit) 1,844,536 0.54 190,800 MGM China Holdings Ltd 399,103 0.12 11,759 Domino’s Pizza Enterprises Ltd* 361,896 0.11 144,000 Minth Group Ltd* 453,098 0.13 11,117 Flight Centre Travel Group Ltd 331,343 0.10 479,200 Sands China Ltd* 2,408,224 0.70 306,498 Fortescue Metals Group Ltd* 1,544,618 0.45 1,737,000 WH Group Ltd ‘144A’ 1,858,713 0.54 320,858 Goodman Group (Reit) 3,036,113 0.88 239,000 Wharf Real Estate Investment 362,432 GPT Group/The (Reit) 1,595,298 0.46 Co Ltd 1,779,572 0.52 111,981 Harvey Norman Holdings Ltd* 319,076 0.09 295,600 Wynn Macau Ltd 696,641 0.20 309,262 Incitec Pivot Ltd 683,919 0.20 451,825 Insurance Australia Group Ltd 2,459,548 0.71 20,285,766 5.89 109,673 LendLease Group (Unit) 962,375 0.28 63,739 Macquarie Group Ltd 5,846,964 1.70 Hong Kong 535,182 Medibank Pvt Ltd 1,046,970 0.30 2,405,000 AIA Group Ltd 23,942,923 6.95 735,233 Mirvac Group (Reit)* 1,433,116 0.42 246,732 Bank of East Asia Ltd/The 801,491 0.23 538,917 National Australia Bank Ltd 9,652,746 2.80 732,000 BOC Hong Kong Holdings Ltd* 3,030,593 0.88 150,665 Newcrest Mining Ltd 2,724,248 0.79 325,000 CLP Holdings Ltd 3,767,540 1.09 73,575 Orica Ltd 919,404 0.27 470,000 Galaxy Entertainment Group Ltd* 3,200,211 0.93 346,757 Origin Energy Ltd 1,769,626 0.51 177,000 Hang Lung Group Ltd 568,207 0.17 263,009 QBE Insurance Group Ltd* 2,294,840 0.67 390,000 Hang Lung Properties Ltd 951,904 0.28 27,668 Ramsay Health Care Ltd* 1,261,973 0.37 151,200 Hang Seng Bank Ltd* 3,730,908 1.08 10,583 REA Group Ltd* 560,342 0.16 257,808 Henderson Land Development 73,166 Rio Tinto Ltd* 5,077,619 1.47 Co Ltd 1,638,815 0.48 348,697 Santos Ltd 1,688,079 0.49 492,500 HK Electric Investments & HK 1,067,589 Scentre Group (Reit) 3,110,067 0.90 Electric Investments Ltd (Unit) 503,169 0.15 64,346 SEEK Ltd* 799,972 0.23 734,760 HKT Trust & HKT Ltd (Unit) 1,181,240 0.34 85,249 Sonic Healthcare Ltd 1,484,026 0.43 1,825,666 Hong Kong & China Gas Co Ltd* 4,376,975 1.27 1,007,873 South32 Ltd 2,664,639 0.77 238,446 Hong Kong Exchanges & 483,327 Stockland (Reit) 1,318,942 0.38 Clearing Ltd 8,310,731 2.41 257,238 Suncorp Group Ltd 2,512,512 0.73 126,000 Hysan Development Co Ltd* 674,947 0.20 216,701 Sydney Airport (Unit) 1,141,231 0.33 417,500 Link REIT (Reit) 4,882,388 1.42 374,466 Tabcorp Holdings Ltd* 1,226,247 0.36 302,500 MTR Corp Ltd 1,872,815 0.54 798,846 Telstra Corp Ltd 1,879,857 0.55 1,207,086 New World Development Co Ltd 2,002,084 0.58 71,158 TPG Telecom Ltd* 350,536 0.10 786,000 PCCW Ltd 488,625 0.14 526,615 Transurban Group (Unit) 4,927,095 1.43 273,500 Power Assets Holdings Ltd 1,897,092 0.55 141,191 Treasury Wine Estates Ltd* 1,494,138 0.43 643,928 Sino Land Co Ltd 1,245,209 0.36 636,801 Vicinity Centres (Reit) 1,173,548 0.34 361,000 SJM Holdings Ltd 412,048 0.12 315,217 Sun Hung Kai Properties Ltd 5,408,917 1.57
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [125] iShares Pacific ex Japan Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Hong Kong continued Singapore continued 97,000 Swire Pacific Ltd ‘A’* 1,248,033 0.36 495,400 CapitaLand Mall Trust (Reit) 870,245 0.25 225,400 Swire Properties Ltd 969,083 0.28 82,200 City Developments Ltd* 549,072 0.16 270,000 Techtronic Industries Co Ltd 1,814,343 0.53 413,400 ComfortDelGro Corp Ltd 784,174 0.23 231,000 Wharf Holdings Ltd/The 697,418 0.20 356,734 DBS Group Holdings Ltd 6,643,096 1.93 160,000 Wheelock & Co Ltd 1,171,982 0.34 1,169,900 Genting Singapore Ltd 898,030 0.26 80,789,691 23.45 19,811 Jardine Cycle & Carriage Ltd* 475,078 0.14 284,700 Keppel Corp Ltd* 1,307,033 0.38 636,940 Oversea-Chinese Banking Corp Ltd* 5,194,809 1.51 Ireland 135,500 SATS Ltd* 511,057 0.15 86,092 James Hardie Industries Plc - CDI 1,106,939 0.32 197,500 Sembcorp Industries Ltd* 371,720 0.11 1,106,939 0.32 102,700 Singapore Airlines Ltd* 732,245 0.21 165,031 Singapore Exchange Ltd* 890,413 0.26 Mauritius 296,000 Singapore Press Holdings Ltd* 526,523 0.15 1,289,300 Golden Agri-Resources Ltd 266,453 0.08 312,800 Singapore Technologies 266,453 0.08 Engineering Ltd* 863,470 0.25 1,607,600 Singapore Telecommunications Ltd* 3,583,387 1.04 New Zealand 429,200 Suntec Real Estate Investment 143,783 a2 Milk Co Ltd 1,401,387 0.41 Trust (Reit)* 617,736 0.18 187,941 Auckland International Airport Ltd 1,041,974 0.30 268,152 United Overseas Bank Ltd 4,985,607 1.45 115,141 Fisher & Paykel Healthcare Corp Ltd 1,231,234 0.36 99,480 UOL Group Ltd* 510,305 0.15 171,412 Fletcher Building Ltd 577,906 0.17 55,200 Venture Corp Ltd* 730,921 0.21 253,425 Meridian Energy Ltd 722,363 0.21 372,000 Wilmar International Ltd* 908,824 0.26 80,348 Ryman Healthcare Ltd 670,382 0.19 479,000 Yangzijiang Shipbuilding 368,837 Spark New Zealand Ltd 954,617 0.28 Holdings Ltd* 530,317 0.15 6,599,863 1.92 35,651,866 10.35 Total Common Stocks (Shares) 339,278,785 98.49 Papua New Guinea Total Transferable Securities and Money 269,477 Oil Search Ltd* 1,499,392 0.44 Market Instruments Admitted to an 1,499,392 0.44 Official Stock Exchange Listing or Dealt in on Another Regulated Market 339,278,785 98.49 Singapore Securities portfolio at market value 339,278,785 98.49 515,000 Ascendas Real Estate Investment Trust (Reit)* 1,106,137 0.32 Other Net Assets 5,218,173 1.51 498,345 CapitaLand Commercial Trust (Reit)* 713,577 0.21 Total Net Assets (USD) 344,496,958 100.00 500,400 CapitaLand Ltd 1,348,090 0.39
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[126] BlackRock Global Index Funds (BGIF) iShares Pacific ex Japan Equity Index Fund (LU) continued
Futures contracts as at 31 March 2019
Gross Net unrealised underlying appreciation/ Number of Currency Contract/ Expiration exposure (depreciation) contracts of contract Description date USD USD 9 HKD Hang Seng Index April 2019 1,666,845 19,804 18 SGD MSCI Singapore Index April 2019 477,883 2,185 30 AUD SPI 200 Index June 2019 3,280,504 (15,102) Total 5,425,232 6,887
Sector Breakdown as at 31 March 2019
% of Net Assets Financial 50.38 Consumer, Non-cyclical 13.56 Basic Materials 8.82 Industrial 5.53 Consumer, Cyclical 4.94 Utilities 4.60 Diversified 4.15 Energy 3.18 Communications 2.83 Technology 0.50 Securities portfolio at market value 98.49 Other Net Assets 1.51 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [127] iShares World Equity Index Fund (LU)
iShares World Equity Index Fund (LU)
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
COMMON / PREFERRED STOCKS (SHARES) Australia continued 96,484 Westpac Banking Corp* 1,772,614 0.15 Australia 28,992 Woodside Petroleum Ltd* 711,425 0.06 18,582 AGL Energy Ltd 286,731 0.02 37,774 Woolworths Group Ltd 813,936 0.07 104,221 Alumina Ltd 178,770 0.02 10,696 WorleyParsons Ltd 107,352 0.01 40,192 Amcor Ltd/Australia* 438,432 0.04 68,743 AMP Ltd 102,323 0.01 26,627,077 2.27 27,791 APA Group (Unit) 196,589 0.02 14,996 Aristocrat Leisure Ltd 260,521 0.02 Austria 6,856 ASX Ltd 339,390 0.03 2,501 Andritz AG* 107,546 0.01 48,328 Aurizon Holdings Ltd* 155,860 0.01 7,117 Erste Group Bank AG 259,136 0.02 63,147 AusNet Services 79,446 0.01 5,206 OMV AG 282,900 0.02 81,239 Australia & New Zealand Banking 3,997 Raiffeisen Bank International AG 90,201 0.01 Group Ltd* 1,498,865 0.13 2,531 Verbund AG* 120,487 0.01 13,093 Bank of Queensland Ltd 84,451 0.01 3,491 voestalpine AG* 106,415 0.01 15,766 Bendigo & Adelaide Bank Ltd* 108,173 0.01 966,685 0.08 83,433 BHP Group Ltd* 2,276,195 0.19 12,418 BlueScope Steel Ltd 122,786 0.01 Belgium 24,876 Boral Ltd* 80,931 0.01 4,458 Ageas 215,325 0.02 41,719 Brambles Ltd* 347,748 0.03 21,821 Anheuser-Busch InBev SA/NV* 1,827,910 0.16 6,143 Caltex Australia Ltd 114,122 0.01 2,153 Colruyt SA* 159,396 0.01 12,741 Challenger Ltd 74,775 0.01 2,953 Groupe Bruxelles Lambert SA 285,927 0.02 4,408 CIMIC Group Ltd* 150,783 0.01 6,777 KBC Group NV* 471,294 0.04 19,697 Coca-Cola Amatil Ltd 120,765 0.01 5,286 Proximus SADP 151,873 0.01 1,355 Cochlear Ltd 166,422 0.01 1,722 Solvay SA* 185,527 0.02 30,732 Coles Group Ltd 258,127 0.02 1,741 Telenet Group Holding NV* 83,583 0.01 51,704 Commonwealth Bank of Australia 2,588,801 0.22 4,271 UCB SA 365,495 0.03 10,053 Computershare Ltd 121,705 0.01 5,906 Umicore SA* 263,581 0.02 7,434 Crown Resorts Ltd 60,649 0.01 12,967 CSL Ltd 1,791,696 0.15 4,009,911 0.34 23,468 Dexus (Reit) 211,919 0.02 2,342 Domino’s Pizza Enterprises Ltd 72,078 0.01 Bermuda 570 Flight Centre Travel Group Ltd 16,989 0.00 13,649 Arch Capital Group Ltd 438,952 0.04 35,918 Fortescue Metals Group Ltd 181,011 0.02 4,512 Athene Holding Ltd ‘A’ 183,638 0.02 50,628 Goodman Group (Reit)* 479,066 0.04 6,366 Axalta Coating Systems Ltd 160,678 0.01 42,437 GPT Group/The (Reit) 186,793 0.02 3,326 Bunge Ltd 175,613 0.01 14,185 Harvey Norman Holdings Ltd* 40,418 0.00 14,000 CK Infrastructure Holdings Ltd 114,943 0.01 31,921 Incitec Pivot Ltd 70,592 0.01 9,300 Dairy Farm International Holdings Ltd 78,027 0.01 76,407 Insurance Australia Group Ltd* 415,928 0.04 946 Everest Re Group Ltd 203,409 0.02 13,056 LendLease Group (Unit) 114,566 0.01 27,700 Hongkong Land Holdings Ltd 196,947 0.02 9,423 Macquarie Group Ltd* 864,399 0.07 10,670 IHS Markit Ltd* 576,287 0.05 63,759 Medibank Pvt Ltd 124,731 0.01 15,377 Invesco Ltd* 298,160 0.02 84,830 Mirvac Group (Reit) 165,351 0.01 6,700 Jardine Matheson Holdings Ltd* 417,812 0.04 81,874 National Australia Bank Ltd* 1,466,476 0.12 5,200 Jardine Strategic Holdings Ltd* 194,636 0.02 24,098 Newcrest Mining Ltd* 435,728 0.04 8,000 Kerry Properties Ltd 35,720 0.00 7,830 Orica Ltd 97,845 0.01 21,231 Marvell Technology Group Ltd* 419,100 0.04 62,856 Origin Energy Ltd 320,777 0.03 7,496 Norwegian Cruise Line Holdings Ltd 409,132 0.03 32,318 QBE Insurance Group Ltd* 281,985 0.02 55,400 NWS Holdings Ltd 121,104 0.01 3,332 Ramsay Health Care Ltd 151,977 0.01 901 RenaissanceRe Holdings Ltd 129,023 0.01 1,956 REA Group Ltd 103,565 0.01 34,000 Shangri-La Asia Ltd 48,337 0.00 9,992 Rio Tinto Ltd 693,431 0.06 25,000 Yue Yuen Industrial Holdings Ltd 85,988 0.01 65,415 Santos Ltd 316,681 0.03 4,287,506 0.37 168,459 Scentre Group (Reit) 490,749 0.04 6,703 SEEK Ltd 83,334 0.01 British Virgin Islands 16,960 Sonic Healthcare Ltd 295,242 0.02 4,113 Capri Holdings Ltd 191,995 0.02 169,585 South32 Ltd 448,353 0.04 53,654 Stockland (Reit) 146,415 0.01 191,995 0.02 41,226 Suncorp Group Ltd* 402,665 0.03 23,702 Sydney Airport (Unit) 124,824 0.01 Canada 46,346 Tabcorp Holdings Ltd 151,767 0.01 8,150 Agnico Eagle Mines Ltd 356,189 0.03 139,629 Telstra Corp Ltd 328,577 0.03 12,503 Alimentation Couche-Tard Inc ‘B’* 736,720 0.06 7,778 TPG Telecom Ltd 38,316 0.00 5,796 AltaGas Ltd 76,713 0.01 76,436 Transurban Group (Unit) 715,147 0.06 13,195 ARC Resources Ltd 91,865 0.01 17,386 Treasury Wine Estates Ltd 183,985 0.02 850 Atco Ltd/Canada ‘I’ 28,762 0.00 79,258 Vicinity Centres (Reit) 146,063 0.01 24,177 Aurora Cannabis Inc 216,286 0.02 5,050 Washington H Soul Pattinson & 19,082 Bank of Montreal 1,430,364 0.12 Co Ltd 94,175 0.01 35,798 Bank of Nova Scotia/The* 1,908,619 0.16 30,732 Wesfarmers Ltd 754,776 0.06 47,423 Barrick Gold Corp 659,619 0.06
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[128] BlackRock Global Index Funds (BGIF) iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Canada continued Canada continued 8,749 Bausch Health Cos Inc 213,977 0.02 2,362 SmartCentres Real Estate 5,623 BCE Inc 249,200 0.02 Investment Trust (Reit) 61,711 0.01 13,650 BlackBerry Ltd 137,338 0.01 5,302 SNC-Lavalin Group Inc* 135,626 0.01 55,878 Bombardier Inc ‘B’ 107,715 0.01 5,288 Stars Group Inc/The 92,514 0.01 23,692 Brookfield Asset Management Inc ‘A’ 1,102,127 0.09 18,294 Sun Life Financial Inc* 701,877 0.06 9,862 CAE Inc 219,270 0.02 45,135 Suncor Energy Inc 1,463,728 0.12 13,895 Cameco Corp 164,768 0.01 13,483 Teck Resources Ltd ‘B’ 313,809 0.03 12,512 Canadian Imperial Bank of 6,680 Thomson Reuters Corp 392,459 0.03 Commerce 995,677 0.08 53,187 Toronto-Dominion Bank/The 2,891,481 0.25 21,282 Canadian National Railway Co 1,900,691 0.16 7,352 Tourmaline Oil Corp 114,039 0.01 33,800 Canadian Natural Resources Ltd 929,639 0.08 25,016 TransCanada Corp* 1,115,776 0.09 3,958 Canadian Pacific Railway Ltd 814,800 0.07 33,803 Turquoise Hill Resources Ltd 56,178 0.00 1,659 Canadian Tire Corp Ltd ‘A’ 178,320 0.01 4,101 Vermilion Energy Inc* 101,742 0.01 4,355 Canadian Utilities Ltd ‘A’ 119,585 0.01 7,861 Waste Connections Inc 694,991 0.06 3,834 CCL Industries Inc ‘B’ 153,986 0.01 1,528 West Fraser Timber Co Ltd* 73,975 0.01 28,072 Cenovus Energy Inc* 241,254 0.02 14,615 Wheaton Precious Metals Corp* 349,893 0.03 6,279 CGI Inc 430,712 0.04 2,567 WSP Global Inc 140,130 0.01 4,883 CI Financial Corp 66,713 0.01 39,863,281 3.41 626 Constellation Software Inc/Canada* 530,479 0.05 6,861 Dollarama Inc 180,282 0.02 Cayman Islands 1,780 Emera Inc 66,613 0.01 8,900 ASM Pacific Technology Ltd 99,261 0.01 5,205 Empire Co Ltd ‘A’ 113,389 0.01 873 BeiGene Ltd ADR 112,704 0.01 57,363 Enbridge Inc* 2,094,750 0.18 80,596 CK Asset Holdings Ltd 716,642 0.06 44,350 Encana Corp 322,382 0.03 76,096 CK Hutchison Holdings Ltd 799,255 0.06 914 Fairfax Financial Holdings Ltd 414,393 0.04 5,029 Melco Resorts & Entertainment 5,734 Finning International Inc 101,991 0.01 Ltd ADR 112,398 0.01 4,471 First Capital Realty Inc 71,694 0.01 38,800 MGM China Holdings Ltd 81,159 0.01 17,582 First Quantum Minerals Ltd* 196,379 0.02 24,000 Minth Group Ltd 75,516 0.01 11,455 Fortis Inc/Canada 422,509 0.04 80,400 Sands China Ltd 404,051 0.03 5,189 Franco-Nevada Corp 390,904 0.03 207,000 WH Group Ltd ‘144A’ 221,505 0.02 2,548 George Weston Ltd 182,984 0.02 35,000 Wharf Real Estate Investment 7,335 Gildan Activewear Inc 262,584 0.02 Co Ltd 260,607 0.02 29,825 Goldcorp Inc 342,503 0.03 35,600 Wynn Macau Ltd 83,899 0.01 6,304 Great-West Lifeco Inc 152,763 0.01 2,966,997 0.25 4,926 H&R Real Estate Investment Trust (Reit) 86,624 0.01 5,925 Husky Energy Inc 59,126 0.01 Curacao 39,279 Schlumberger Ltd 1,708,244 0.15 9,147 Hydro One Ltd* 141,813 0.01 3,541 IA Financial Corp Inc 131,190 0.01 1,708,244 0.15 898 IGM Financial Inc 23,176 0.00 6,500 Imperial Oil Ltd 177,609 0.01 Denmark 4,664 Intact Financial Corp 394,370 0.03 114 AP Moller - Maersk A/S ‘A’ 137,426 0.01 10,590 Inter Pipeline Ltd 174,809 0.01 155 AP Moller - Maersk A/S ‘B’* 195,966 0.02 6,454 Keyera Corp 150,358 0.01 2,530 Carlsberg A/S ‘B’ 317,204 0.03 24,449 Kinross Gold Corp 84,010 0.01 3,625 Chr Hansen Holding A/S* 369,765 0.03 5,731 Loblaw Cos Ltd 282,217 0.02 3,306 Coloplast A/S ‘B’* 363,380 0.03 21,844 Lundin Mining Corp 102,695 0.01 17,934 Danske Bank A/S 315,590 0.03 8,312 Magna International Inc* 407,293 0.03 5,003 DSV A/S 412,204 0.04 59,865 Manulife Financial Corp 1,010,149 0.09 2,038 Genmab A/S* 353,269 0.03 2,164 Methanex Corp 122,715 0.01 2,426 H Lundbeck A/S* 105,195 0.01 8,324 Metro Inc 306,713 0.03 5,061 ISS A/S* 154,599 0.01 9,400 National Bank of Canada* 424,611 0.04 52,631 Novo Nordisk A/S ‘B’ 2,749,200 0.23 16,467 Nutrien Ltd* 862,921 0.07 6,217 Novozymes A/S ‘B’* 287,064 0.02 2,598 Onex Corp 146,860 0.01 5,074 Orsted A/S ‘144A’* 386,460 0.03 7,517 Open Text Corp 287,332 0.02 2,307 Pandora A/S* 107,148 0.01 15,628 Pembina Pipeline Corp 572,917 0.05 4,463 Tryg A/S 122,907 0.01 9,217 Power Corp of Canada 215,556 0.02 5,669 Vestas Wind Systems A/S 476,626 0.04 11,082 Power Financial Corp 258,508 0.02 3,240 William Demant Holding A/S* 95,318 0.01 6,159 PrairieSky Royalty Ltd 83,869 0.01 6,949,321 0.59 8,012 Restaurant Brands International Inc 524,277 0.04 4,055 RioCan Real Estate Investment Finland Trust (Reit) 80,293 0.01 3,991 Elisa OYJ* 179,146 0.02 10,412 Rogers Communications Inc ‘B’ 561,599 0.05 10,014 Fortum OYJ 208,000 0.02 41,356 Royal Bank of Canada 3,131,576 0.27 10,055 Kone OYJ ‘B’* 507,001 0.04 5,921 Saputo Inc 201,637 0.02 3,898 Metso OYJ 133,614 0.01 8,380 Seven Generations Energy Ltd ‘A’ 61,417 0.01 4,181 Neste OYJ 445,669 0.04 10,647 Shaw Communications Inc ‘B’ 221,182 0.02 150,692 Nokia OYJ 857,791 0.07 2,419 Shopify Inc ‘A’ 496,422 0.04 2,507 Nokian Renkaat OYJ 83,935 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [129] iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Finland continued France continued 89,458 Nordea Bank Abp 680,802 0.06 16,325 Schneider Electric SE 1,274,592 0.11 3,580 Orion OYJ ‘B’ 134,209 0.01 5,474 SCOR SE 232,808 0.02 12,099 Sampo OYJ ‘A’ 550,294 0.05 798 SEB SA 132,691 0.01 11,964 Stora Enso OYJ ‘R’ 145,945 0.01 989 Societe BIC SA* 87,888 0.01 16,855 UPM-Kymmene OYJ 487,860 0.04 21,788 Societe Generale SA 626,240 0.05 15,475 Wartsila OYJ Abp 249,846 0.02 2,492 Sodexo SA* 274,082 0.02 4,664,112 0.40 12,691 Suez* 168,065 0.01 1,620 Teleperformance* 290,471 0.02 3,476 Thales SA 416,416 0.04 France 68,104 Total SA 3,772,723 0.32 4,131 Accor SA 166,739 0.01 2,122 Ubisoft Entertainment SA 189,455 0.02 945 Aeroports de Paris 180,900 0.01 4,189 Unibail-Rodamco-Westfield (Reit) 687,138 0.06 12,571 Air Liquide SA 1,592,775 0.14 6,053 Valeo SA* 175,133 0.01 3,968 Alstom SA 171,253 0.01 18,107 Veolia Environnement SA 405,271 0.03 2,017 Amundi SA ‘144A’* 126,726 0.01 14,200 Vinci SA* 1,375,248 0.12 2,532 Arkema SA* 240,785 0.02 30,686 Vivendi SA 888,191 0.08 2,240 Atos SE 215,683 0.02 501 Wendel SA 62,944 0.01 52,924 AXA SA 1,328,938 0.11 1,382 BioMerieux* 113,270 0.01 40,738,932 3.48 31,151 BNP Paribas SA 1,483,981 0.13 16,339 Bollore SA 73,745 0.01 Germany 5,072 Bouygues SA 180,177 0.01 1,769 1&1 Drillisch AG* 62,842 0.01 10,234 Bureau Veritas SA 241,410 0.02 5,406 adidas AG* 1,313,459 0.11 4,676 Capgemini SE 566,998 0.05 12,057 Allianz SE Reg 2,677,889 0.23 16,044 Carrefour SA 298,392 0.02 1,608 Axel Springer SE 82,759 0.01 1,466 Casino Guichard Perrachon SA* 63,254 0.01 26,734 BASF SE* 1,960,619 0.17 14,092 Cie de Saint-Gobain 511,281 0.04 26,485 Bayer AG Reg 1,696,441 0.14 5,037 Cie Generale des Etablissements 9,611 Bayerische Motoren Werke AG* 736,361 0.06 Michelin SCA* 594,371 0.05 1,151 Bayerische Motoren Werke AG (Pref) 75,922 0.01 5,938 CNP Assurances 130,871 0.01 2,384 Beiersdorf AG 247,428 0.02 1,244 Covivio (Reit) 131,709 0.01 4,182 Brenntag AG* 214,248 0.02 35,019 Credit Agricole SA 421,327 0.04 25,180 Commerzbank AG* 194,306 0.02 18,005 Danone SA 1,380,086 0.12 3,429 Continental AG 515,118 0.04 54 Dassault Aviation SA 79,908 0.01 5,114 Covestro AG ‘144A’ 280,082 0.02 3,940 Dassault Systemes SE 583,256 0.05 26,397 Daimler AG Reg* 1,536,691 0.13 6,146 Edenred 279,536 0.02 2,281 Delivery Hero SE 81,183 0.01 2,156 Eiffage SA 205,949 0.02 58,013 Deutsche Bank AG Reg 470,529 0.04 13,753 Electricite de France SA 187,302 0.02 5,157 Deutsche Boerse AG 660,063 0.06 54,345 Engie SA 810,596 0.07 6,237 Deutsche Lufthansa AG Reg 136,025 0.01 7,978 EssilorLuxottica SA 866,171 0.07 27,644 Deutsche Post AG Reg 899,461 0.08 1,349 Eurazeo SE* 101,175 0.01 95,776 Deutsche Telekom AG Reg 1,587,180 0.14 6,419 Eutelsat Communications SA 112,392 0.01 10,455 Deutsche Wohnen SE* 510,149 0.04 1,559 Faurecia SA 65,569 0.01 64,541 E.ON SE* 719,344 0.06 1,079 Gecina SA (Reit) 159,427 0.01 4,120 Evonik Industries AG 112,405 0.01 12,720 Getlink SE 192,299 0.02 1,405 Fraport AG Frankfurt Airport 938 Hermes International 619,667 0.05 Services Worldwide* 106,826 0.01 991 ICADE (Reit) 83,504 0.01 6,349 Fresenius Medical Care AG & 457 Iliad SA* 45,573 0.00 Co KGaA* 511,530 0.04 1,213 Imerys SA* 60,196 0.01 12,640 Fresenius SE & Co KGaA* 707,449 0.06 1,496 Ingenico Group SA 106,321 0.01 2,389 Fuchs Petrolub SE (Pref) 97,956 0.01 738 Ipsen SA 100,259 0.01 3,951 GEA Group AG 103,802 0.01 2,142 JCDecaux SA 65,270 0.01 2,001 Hannover Rueck SE 287,792 0.02 2,196 Kering SA 1,254,477 0.11 5,046 HeidelbergCement AG 360,773 0.03 4,970 Klepierre SA (Reit)* 174,042 0.01 2,458 Henkel AG & Co KGaA 234,162 0.02 7,240 L’Oreal SA 1,939,511 0.17 4,851 Henkel AG & Co KGaA (Pref) 494,974 0.04 7,963 Legrand SA 529,633 0.04 688 Hochtief AG 98,642 0.01 8,090 LVMH Moet Hennessy 1,951 Hugo Boss AG 133,576 0.01 Louis Vuitton SE 2,969,703 0.25 30,137 Infineon Technologies AG 596,196 0.05 19,995 Natixis SA 106,545 0.01 3,946 Innogy SE 168,864 0.01 56,035 Orange SA 905,323 0.08 1,888 KION Group AG 98,272 0.01 6,039 Pernod Ricard SA 1,083,151 0.09 1,796 Lanxess AG 95,500 0.01 19,500 Peugeot SA 472,465 0.04 3,613 Merck KGaA 411,532 0.03 6,813 Publicis Groupe SA 365,330 0.03 6,227 Metro AG 103,053 0.01 599 Remy Cointreau SA* 79,627 0.01 1,484 MTU Aero Engines AG 334,565 0.03 6,305 Renault SA 415,888 0.03 3,952 Muenchener Rueckversicherungs- 5,889 Rexel SA 66,317 0.01 Gesellschaft AG in Muenchen Reg 932,680 0.08 10,026 Safran SA 1,366,000 0.12 2,779 OSRAM Licht AG* 95,320 0.01 32,830 Sanofi* 2,892,027 0.25 5,439 Porsche Automobil Holding SE (Pref) 339,529 0.03 966 Sartorius Stedim Biotech 120,496 0.01 6,259 ProSiebenSat.1 Media SE 88,614 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[130] BlackRock Global Index Funds (BGIF) iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Germany continued Ireland continued 151 Puma SE 87,650 0.01 15,908 Linde Plc 2,769,424 0.24 15,005 RWE AG* 401,292 0.03 37,847 Medtronic Plc 3,413,042 0.29 28,283 SAP SE* 3,261,212 0.28 1,823 Paddy Power Betfair Plc 139,999 0.01 882 Sartorius AG (Pref) 150,917 0.01 3,977 Pentair Plc 176,181 0.02 22,531 Siemens AG Reg 2,421,146 0.21 3,768 Perrigo Co Plc 180,826 0.02 3,607 Siemens Healthineers AG* 150,145 0.01 7,347 Seagate Technology Plc 348,762 0.03 4,049 Symrise AG* 366,591 0.03 5,472 Smurfit Kappa Group Plc 152,241 0.01 25,429 Telefonica Deutschland Holding AG 79,741 0.01 3,459 Willis Towers Watson Plc 608,092 0.05 9,980 thyssenkrupp AG* 136,982 0.01 18,061,620 1.54 11,255 TUI AG* 106,915 0.01 7,579 Uniper SE* 227,965 0.02 Isle of Man 2,586 United Internet AG Reg 93,926 0.01 12,910 GVC Holdings Plc 92,464 0.01 824 Volkswagen AG* 133,406 0.01 5,325 Volkswagen AG (Pref)* 836,293 0.07 92,464 0.01 14,037 Vonovia SE* 728,114 0.06 3,464 Wirecard AG* 436,758 0.04 Israel 3,062 Zalando SE* 119,397 0.01 1,401 Azrieli Group Ltd 83,035 0.01 32,910,561 2.81 32,159 Bank Hapoalim BM 212,931 0.02 49,897 Bank Leumi Le-Israel BM 325,979 0.03 72,482 Bezeq The Israeli Hong Kong Telecommunication Corp Ltd 52,026 0.00 344,400 AIA Group Ltd 3,428,666 0.29 3,999 Check Point Software 24,345 Bank of East Asia Ltd/The 79,083 0.01 Technologies Ltd 501,915 0.04 102,500 BOC Hong Kong Holdings Ltd* 424,366 0.03 12,618 Israel Chemicals Ltd 65,641 0.01 49,500 CLP Holdings Ltd 573,825 0.05 4,160 Mizrahi Tefahot Bank Ltd 85,510 0.01 63,000 Galaxy Entertainment Group Ltd* 428,964 0.04 1,606 Nice Ltd 189,308 0.02 31,000 Hang Lung Group Ltd 99,517 0.01 25,014 Teva Pharmaceutical Industries 40,000 Hang Lung Properties Ltd 97,631 0.01 Ltd ADR* 395,596 0.03 22,800 Hang Seng Bank Ltd* 562,597 0.05 1,163 Wix.com Ltd 138,955 0.01 31,213 Henderson Land Development Co Ltd 198,413 0.02 2,050,896 0.18 125,500 HK Electric Investments & HK Electric Investments Ltd (Unit) 128,219 0.01 Italy 96,860 HKT Trust & HKT Ltd (Unit) 155,717 0.01 29,554 Assicurazioni Generali SpA 545,342 0.05 268,366 Hong Kong & China Gas Co Ltd* 643,399 0.05 13,450 Atlantia SpA 346,115 0.03 30,274 Hong Kong Exchanges & 19,378 Davide Campari-Milano SpA* 190,153 0.02 Clearing Ltd 1,055,162 0.09 237,693 Enel SpA* 1,519,557 0.13 22,000 Hysan Development Co Ltd 117,848 0.01 75,574 Eni SpA 1,327,575 0.11 62,000 Link REIT (Reit) 725,049 0.06 407,472 Intesa Sanpaolo SpA 992,294 0.08 54,500 MTR Corp Ltd 337,416 0.03 8,198 Leonardo SpA 95,219 0.01 218,900 New World Development Co Ltd* 363,070 0.03 16,334 Mediobanca Banca di Credito 127,000 PCCW Ltd 78,951 0.01 Finanziario SpA 168,645 0.01 32,500 Power Assets Holdings Ltd 225,431 0.02 4,437 Moncler SpA 178,791 0.02 121,448 Sino Land Co Ltd 234,853 0.02 9,920 Pirelli & C SpA ‘144A’* 63,930 0.01 35,000 SJM Holdings Ltd 39,949 0.00 17,490 Poste Italiane SpA ‘144A’ 169,074 0.01 47,500 Sun Hung Kai Properties Ltd 815,069 0.07 4,815 Prysmian SpA* 90,200 0.01 19,500 Swire Pacific Ltd ‘A’ 250,893 0.02 3,480 Recordati SpA 135,266 0.01 55,600 Swire Properties Ltd* 239,046 0.02 83,771 Snam SpA 433,495 0.04 32,500 Techtronic Industries Co Ltd* 218,393 0.02 265,192 Telecom Italia SpA/Milano 165,010 0.01 36,000 Wharf Holdings Ltd/The 108,689 0.01 208,119 Telecom Italia SpA/Milano -RSP 117,627 0.01 18,000 Wheelock & Co Ltd 131,848 0.01 35,269 Terna Rete Elettrica Nazionale SpA 223,809 0.02 11,762,064 1.00 57,611 UniCredit SpA 735,702 0.06 7,497,804 0.64 Ireland 18,190 Accenture Plc ‘A’ 3,192,163 0.27 Japan 14,676 AIB Group Plc 65,119 0.01 800 ABC-Mart Inc 47,553 0.00 4,098 Alkermes Plc 146,544 0.01 15,800 Acom Co Ltd* 56,294 0.00 2,817 Allegion Plc 253,840 0.02 18,300 Aeon Co Ltd 382,374 0.03 9,800 Allergan Plc 1,430,898 0.12 2,500 AEON Financial Service Co Ltd* 50,805 0.00 39,059 Bank of Ireland Group Plc 231,546 0.02 2,300 Aeon Mall Co Ltd 37,758 0.00 24,296 CRH Plc 751,246 0.06 5,000 AGC Inc/Japan 174,988 0.01 3,316 DCC Plc 287,066 0.02 1,800 Air Water Inc 26,042 0.00 12,878 Eaton Corp Plc 1,035,134 0.09 4,500 Aisin Seiki Co Ltd 160,533 0.01 6,856 Ingersoll-Rand Plc 736,609 0.06 12,600 Ajinomoto Co Inc 201,050 0.02 10,385 James Hardie Industries Plc - CDI 133,527 0.01 7,700 Alfresa Holdings Corp 218,780 0.02 2,090 Jazz Pharmaceuticals Plc 295,526 0.03 9,300 Alps Alpine Co Ltd* 193,776 0.02 27,041 Johnson Controls International Plc 1,000,787 0.09 9,300 Amada Holdings Co Ltd* 91,855 0.01 4,729 Kerry Group Plc ‘A’ 521,922 0.04 3,100 ANA Holdings Inc 113,497 0.01 4,096 Kingspan Group Plc 191,126 0.02 3,300 Aozora Bank Ltd* 81,440 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [131] iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Japan continued 11,800 Asahi Group Holdings Ltd* 524,728 0.04 32,300 Inpex Corp 307,515 0.03 2,600 Asahi Intecc Co Ltd* 121,950 0.01 13,600 Isetan Mitsukoshi Holdings Ltd* 137,270 0.01 38,500 Asahi Kasei Corp 396,581 0.03 14,100 Isuzu Motors Ltd* 184,922 0.02 3,900 Asics Corp* 52,239 0.00 38,400 ITOCHU Corp* 693,600 0.06 56,100 Astellas Pharma Inc* 839,236 0.07 3,800 J Front Retailing Co Ltd 45,141 0.00 7,200 Bandai Namco Holdings Inc 337,059 0.03 4,600 Japan Airlines Co Ltd 161,777 0.01 1,400 Bank of Kyoto Ltd/The* 58,467 0.00 900 Japan Airport Terminal Co Ltd* 37,952 0.00 1,900 Benesse Holdings Inc 49,272 0.00 12,000 Japan Exchange Group Inc 213,557 0.02 17,600 Bridgestone Corp 677,234 0.06 8,000 Japan Post Bank Co Ltd* 87,241 0.01 5,400 Brother Industries Ltd 99,754 0.01 45,000 Japan Post Holdings Co Ltd* 526,045 0.04 1,900 Calbee Inc* 51,105 0.00 24 Japan Prime Realty Investment 27,800 Canon Inc 805,677 0.07 Corp (Reit) 98,715 0.01 5,700 Casio Computer Co Ltd* 74,293 0.01 29 Japan Real Estate Investment 4,100 Central Japan Railway Co 950,805 0.08 Corp (Reit) 170,811 0.01 14,000 Chiba Bank Ltd/The* 75,894 0.01 106 Japan Retail Fund Investment 14,900 Chubu Electric Power Co Inc 232,306 0.02 Corp (Reit) 212,927 0.02 6,000 Chugai Pharmaceutical Co Ltd* 411,852 0.03 30,700 Japan Tobacco Inc 760,127 0.06 9,300 Chugoku Electric Power 12,100 JFE Holdings Inc 205,023 0.02 Co Inc/The* 115,846 0.01 3,400 JGC Corp* 45,113 0.00 5,400 Coca-Cola Bottlers Japan 5,600 JSR Corp* 86,678 0.01 Holdings Inc* 136,918 0.01 7,500 JTEKT Corp 92,139 0.01 26,300 Concordia Financial Group Ltd 101,295 0.01 93,500 JXTG Holdings Inc 427,166 0.04 4,900 Credit Saison Co Ltd* 64,617 0.01 11,000 Kajima Corp 162,125 0.01 2,500 CyberAgent Inc* 101,813 0.01 3,100 Kakaku.com Inc* 59,475 0.01 5,300 Dai Nippon Printing Co Ltd 126,542 0.01 3,000 Kamigumi Co Ltd 69,382 0.01 29,900 Dai-ichi Life Holdings Inc 414,795 0.03 1,400 Kaneka Corp 52,343 0.00 8,000 Daicel Corp* 86,736 0.01 23,500 Kansai Electric Power Co Inc/The 345,934 0.03 2,000 Daifuku Co Ltd* 103,910 0.01 6,200 Kansai Paint Co Ltd* 118,055 0.01 16,800 Daiichi Sankyo Co Ltd* 772,832 0.07 13,400 Kao Corp 1,053,725 0.09 7,500 Daikin Industries Ltd* 877,418 0.07 2,700 Kawasaki Heavy Industries Ltd 66,486 0.01 1,800 Daito Trust Construction Co Ltd 250,521 0.02 52,800 KDDI Corp* 1,135,868 0.10 16,400 Daiwa House Industry Co Ltd* 520,557 0.04 5,200 Keihan Holdings Co Ltd 218,338 0.02 85 Daiwa House REIT Investment 4,400 Keikyu Corp* 74,534 0.01 Corp (Reit) 188,378 0.02 2,300 Keio Corp* 148,334 0.01 37,000 Daiwa Securities Group Inc* 179,885 0.01 3,500 Keisei Electric Railway Co Ltd* 126,911 0.01 3,400 DeNA Co Ltd 51,123 0.00 2,700 Keyence Corp* 1,679,692 0.14 13,100 Denso Corp* 510,104 0.04 4,000 Kikkoman Corp* 195,914 0.02 5,000 Dentsu Inc* 210,842 0.02 4,100 Kintetsu Group Holdings Co Ltd* 190,827 0.02 1,300 Disco Corp* 184,919 0.02 25,300 Kirin Holdings Co Ltd 603,033 0.05 8,800 East Japan Railway Co 847,734 0.07 1,200 Kobayashi Pharmaceutical Co Ltd* 101,096 0.01 7,500 Eisai Co Ltd* 420,308 0.04 10,200 Kobe Steel Ltd* 76,455 0.01 3,900 Electric Power Development Co Ltd 94,840 0.01 2,600 Koito Manufacturing Co Ltd* 147,044 0.01 5,600 FamilyMart UNY Holdings Co Ltd 142,494 0.01 28,600 Komatsu Ltd* 663,115 0.06 5,800 FANUC Corp* 987,724 0.08 1,700 Konami Holdings Corp 73,680 0.01 1,700 Fast Retailing Co Ltd* 797,826 0.07 15,400 Konica Minolta Inc 151,270 0.01 3,600 Fuji Electric Co Ltd 101,962 0.01 1,200 Kose Corp 220,051 0.02 12,400 FUJIFILM Holdings Corp 563,042 0.05 32,200 Kubota Corp 464,564 0.04 6,200 Fujitsu Ltd 446,608 0.04 7,600 Kuraray Co Ltd 96,521 0.01 6,600 Fukuoka Financial Group Inc* 146,210 0.01 2,200 Kurita Water Industries Ltd 56,099 0.00 11,000 Hakuhodo DY Holdings Inc* 176,413 0.01 9,400 Kyocera Corp* 551,121 0.05 2,900 Hamamatsu Photonics KK* 111,956 0.01 6,900 Kyowa Hakko Kirin Co Ltd 149,993 0.01 5,600 Hankyu Hanshin Holdings Inc 209,624 0.02 13,500 Kyushu Electric Power Co Inc* 159,153 0.01 800 Hikari Tsushin Inc* 151,319 0.01 5,200 Kyushu Railway Co* 170,730 0.01 8,600 Hino Motors Ltd 72,297 0.01 2,100 Lawson Inc 116,304 0.01 630 Hirose Electric Co Ltd 66,088 0.01 1,300 LINE Corp 45,790 0.00 1,100 Hisamitsu Pharmaceutical Co Inc* 50,503 0.00 8,500 Lion Corp* 178,641 0.01 3,600 Hitachi Chemical Co Ltd 79,621 0.01 6,000 LIXIL Group Corp 79,989 0.01 1,700 Hitachi Construction Machinery 9,400 M3 Inc* 157,451 0.01 Co Ltd* 45,036 0.00 5,200 Makita Corp* 180,814 0.01 2,100 Hitachi High-Technologies Corp 85,902 0.01 38,200 Marubeni Corp* 263,591 0.02 28,700 Hitachi Ltd* 928,061 0.08 6,300 Marui Group Co Ltd* 127,006 0.01 7,000 Hitachi Metals Ltd* 81,198 0.01 1,300 Maruichi Steel Tube Ltd 37,816 0.00 46,200 Honda Motor Co Ltd 1,248,085 0.11 13,100 Mazda Motor Corp* 146,343 0.01 1,100 Hoshizaki Corp* 68,065 0.01 1,500 McDonald’s Holdings Co Japan Ltd 69,273 0.01 10,700 Hoya Corp* 705,419 0.06 31,510 Mebuki Financial Group Inc 80,434 0.01 9,700 Hulic Co Ltd 95,018 0.01 6,500 Medipal Holdings Corp 154,197 0.01 4,335 Idemitsu Kosan Co Ltd* 144,871 0.01 4,300 MEIJI Holdings Co Ltd* 348,685 0.03 2,500 IHI Corp 59,960 0.01 7,900 MINEBEA MITSUMI Inc* 118,502 0.01 5,200 Iida Group Holdings Co Ltd* 94,042 0.01 11,100 MISUMI Group Inc* 275,535 0.02
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[132] BlackRock Global Index Funds (BGIF) iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Japan continued 33,100 Mitsubishi Chemical Holdings Corp* 232,699 0.02 3,000 Park24 Co Ltd 65,025 0.01 39,400 Mitsubishi Corp* 1,092,460 0.09 4,100 Persol Holdings Co Ltd* 66,272 0.01 51,800 Mitsubishi Electric Corp* 664,642 0.06 3,100 Pigeon Corp 126,528 0.01 34,800 Mitsubishi Estate Co Ltd 629,517 0.05 2,900 Pola Orbis Holdings Inc 92,338 0.01 5,500 Mitsubishi Gas Chemical Co Inc* 78,334 0.01 21,500 Rakuten Inc 203,238 0.02 10,200 Mitsubishi Heavy Industries Ltd* 423,033 0.04 33,100 Recruit Holdings Co Ltd 943,752 0.08 1,900 Mitsubishi Materials Corp* 50,077 0.00 16,500 Renesas Electronics Corp* 76,201 0.01 12,600 Mitsubishi Motors Corp* 66,827 0.01 51,000 Resona Holdings Inc* 220,671 0.02 10,200 Mitsubishi Tanabe Pharma Corp 136,074 0.01 15,300 Ricoh Co Ltd 159,673 0.01 333,800 Mitsubishi UFJ Financial Group Inc* 1,655,978 0.14 1,000 Rinnai Corp* 70,626 0.01 12,200 Mitsubishi UFJ Lease & Finance 2,100 Rohm Co Ltd 130,699 0.01 Co Ltd 62,065 0.01 600 Ryohin Keikaku Co Ltd 151,752 0.01 44,500 Mitsui & Co Ltd* 689,787 0.06 600 Sankyo Co Ltd 22,839 0.00 4,200 Mitsui Chemicals Inc* 101,188 0.01 7,500 Santen Pharmaceutical Co Ltd* 111,555 0.01 24,800 Mitsui Fudosan Co Ltd* 622,433 0.05 9,600 SBI Holdings Inc/Japan* 213,535 0.02 1,800 Mitsui OSK Lines Ltd* 38,658 0.00 6,200 Secom Co Ltd 530,270 0.04 710,000 Mizuho Financial Group Inc* 1,097,037 0.09 6,200 Sega Sammy Holdings Inc 73,037 0.01 4,200 MonotaRO Co Ltd 93,232 0.01 5,600 Seibu Holdings Inc* 97,842 0.01 14,300 MS&AD Insurance Group 5,900 Seiko Epson Corp* 90,204 0.01 Holdings Inc* 434,682 0.04 10,200 Sekisui Chemical Co Ltd 163,675 0.01 15,600 Murata Manufacturing Co Ltd* 775,603 0.07 16,600 Sekisui House Ltd 274,308 0.02 2,100 Nabtesco Corp* 61,088 0.01 21,400 Seven & i Holdings Co Ltd 806,083 0.07 7,000 Nagoya Railroad Co Ltd* 193,524 0.02 19,100 Seven Bank Ltd* 56,336 0.00 6,000 NEC Corp* 202,679 0.02 6,900 SG Holdings Co Ltd* 200,717 0.02 17,000 Nexon Co Ltd 265,891 0.02 9,000 Sharp Corp/Japan 98,877 0.01 4,800 NGK Insulators Ltd 69,620 0.01 5,800 Shimadzu Corp* 167,411 0.01 2,800 NGK Spark Plug Co Ltd* 51,876 0.00 800 Shimamura Co Ltd 67,614 0.01 3,000 NH Foods Ltd* 107,834 0.01 2,400 Shimano Inc* 389,663 0.03 6,300 Nidec Corp* 796,983 0.07 10,800 Shimizu Corp 93,714 0.01 7,400 Nikon Corp* 104,193 0.01 9,900 Shin-Etsu Chemical Co Ltd 828,684 0.07 3,300 Nintendo Co Ltd 939,413 0.08 5,900 Shinsei Bank Ltd 83,818 0.01 32 Nippon Building Fund Inc (Reit)* 216,479 0.02 8,700 Shionogi & Co Ltd 537,703 0.05 2,800 Nippon Electric Glass Co Ltd 74,126 0.01 10,200 Shiseido Co Ltd* 734,834 0.06 1,500 Nippon Express Co Ltd 83,345 0.01 10,000 Shizuoka Bank Ltd/The* 76,038 0.01 3,400 Nippon Paint Holdings Co Ltd 133,405 0.01 3,400 Showa Denko KK* 119,298 0.01 20 Nippon Prologis REIT Inc (Reit) 42,538 0.00 1,700 SMC Corp/Japan* 636,820 0.05 23,100 Nippon Steel Corp* 407,138 0.03 45,700 Softbank Corp* 514,030 0.04 19,800 Nippon Telegraph & Telephone Corp 839,935 0.07 23,800 SoftBank Group Corp* 2,306,688 0.20 5,400 Nippon Yusen KK* 79,004 0.01 2,400 Sohgo Security Services Co Ltd* 104,343 0.01 3,800 Nissan Chemical Corp 173,779 0.01 8,100 Sompo Holdings Inc* 299,407 0.03 74,100 Nissan Motor Co Ltd* 607,023 0.05 36,400 Sony Corp 1,525,080 0.13 6,100 Nisshin Seifun Group Inc 139,756 0.01 7,700 Sony Financial Holdings Inc* 145,020 0.01 1,800 Nissin Foods Holdings Co Ltd* 123,393 0.01 2,900 Stanley Electric Co Ltd* 77,820 0.01 1,900 Nitori Holdings Co Ltd* 245,073 0.02 18,700 Subaru Corp* 425,479 0.04 3,800 Nitto Denko Corp* 199,314 0.02 4,700 SUMCO Corp 52,187 0.00 112,300 Nomura Holdings Inc* 405,380 0.03 36,000 Sumitomo Chemical Co Ltd* 167,230 0.01 4,200 Nomura Real Estate Holdings Inc 80,503 0.01 35,200 Sumitomo Corp* 486,097 0.04 111 Nomura Real Estate Master 5,300 Sumitomo Dainippon Pharma Co Ltd 130,845 0.01 Fund Inc (Reit) 163,399 0.01 25,800 Sumitomo Electric Industries Ltd* 341,743 0.03 2,490 Nomura Research Institute Ltd* 112,973 0.01 1,900 Sumitomo Heavy Industries Ltd 61,440 0.01 8,500 NSK Ltd 79,507 0.01 6,900 Sumitomo Metal Mining Co Ltd* 203,518 0.02 14,600 NTT Data Corp* 160,796 0.01 37,800 Sumitomo Mitsui Financial Group Inc 1,321,542 0.11 40,200 NTT DOCOMO Inc* 888,922 0.08 10,200 Sumitomo Mitsui Trust Holdings Inc* 365,807 0.03 15,000 Obayashi Corp 150,724 0.01 10,800 Sumitomo Realty & Development 1,500 Obic Co Ltd* 150,994 0.01 Co Ltd* 446,749 0.04 11,200 Odakyu Electric Railway Co Ltd* 271,047 0.02 6,400 Sumitomo Rubber Industries Ltd 76,663 0.01 32,700 Oji Holdings Corp 202,633 0.02 1,000 Sundrug Co Ltd 27,511 0.00 37,600 Olympus Corp* 407,660 0.03 2,900 Suntory Beverage & Food Ltd 136,021 0.01 4,400 Omron Corp 205,583 0.02 2,500 Suzuken Co Ltd/Aichi Japan 144,545 0.01 9,500 Ono Pharmaceutical Co Ltd* 185,861 0.02 10,300 Suzuki Motor Corp* 455,053 0.04 2,000 Oracle Corp Japan* 134,037 0.01 4,300 Sysmex Corp* 259,478 0.02 6,200 Oriental Land Co Ltd/Japan* 702,963 0.06 13,400 T&D Holdings Inc 140,690 0.01 38,400 ORIX Corp 550,551 0.05 2,100 Taiheiyo Cement Corp 69,896 0.01 8,700 Osaka Gas Co Ltd 171,387 0.01 7,000 Taisei Corp* 324,539 0.03 2,000 Otsuka Corp 74,595 0.01 2,000 Taisho Pharmaceutical Holdings 11,300 Otsuka Holdings Co Ltd* 443,275 0.04 Co Ltd 190,322 0.02 4,000 Pan Pacific International 2,000 Taiyo Nippon Sanso Corp* 30,415 0.00 Holdings Corp 264,466 0.02 1,500 Takashimaya Co Ltd 19,943 0.00 61,900 Panasonic Corp* 532,765 0.05 43,280 Takeda Pharmaceutical Co Ltd* 1,764,929 0.15
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [133] iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Japan continued Luxembourg continued 4,500 TDK Corp 351,914 0.03 1,455 RTL Group SA* 79,360 0.01 5,000 Teijin Ltd* 82,352 0.01 9,615 SES SA 148,057 0.01 18,800 Terumo Corp* 573,166 0.05 18,404 Tenaris SA* 258,289 0.02 2,100 THK Co Ltd 51,787 0.00 1,246,087 0.11 7,800 Tobu Railway Co Ltd* 224,787 0.02 4,200 Toho Co Ltd/Tokyo 168,394 0.01 Mauritius 3,100 Toho Gas Co Ltd 138,971 0.01 54,100 Golden Agri-Resources Ltd 11,181 0.00 9,200 Tohoku Electric Power Co Inc 117,173 0.01 18,900 Tokio Marine Holdings Inc* 914,101 0.08 11,181 0.00 1,300 Tokyo Century Corp* 56,461 0.00 45,600 Tokyo Electric Power Co Holdings Inc 287,918 0.02 Netherlands 4,200 Tokyo Electron Ltd* 606,143 0.05 11,125 ABN AMRO Group NV – CVA ‘144A’ 249,437 0.02 9,000 Tokyo Gas Co Ltd* 243,012 0.02 329 Adyen NV ‘144A’ 254,839 0.02 12,300 Tokyu Corp* 214,458 0.02 46,750 Aegon NV 224,966 0.02 16,200 Tokyu Fudosan Holdings Corp* 96,734 0.01 3,134 AerCap Holdings NV 145,198 0.01 7,500 Toppan Printing Co Ltd 113,043 0.01 16,320 Airbus SE 2,147,855 0.18 33,900 Toray Industries Inc* 216,154 0.02 6,137 AKZO NOBEL NV 546,402 0.05 17,500 Toshiba Corp* 556,420 0.05 11,901 ASML Holding NV 2,210,317 0.19 5,800 Tosoh Corp 90,036 0.01 24,200 CNH Industrial NV* 247,361 0.02 3,300 TOTO Ltd* 139,751 0.01 3,063 EXOR NV 199,186 0.02 4,800 Toyo Seikan Group Holdings Ltd 98,152 0.01 3,278 Ferrari NV 437,045 0.04 2,500 Toyo Suisan Kaisha Ltd 95,048 0.01 32,931 Fiat Chrysler Automobiles NV* 489,526 0.04 2,700 Toyoda Gosei Co Ltd* 57,086 0.00 3,094 Heineken Holding NV 311,078 0.03 3,800 Toyota Industries Corp* 190,231 0.02 8,063 Heineken NV 850,052 0.07 64,700 Toyota Motor Corp* 3,785,766 0.32 114,843 ING Groep NV 1,384,816 0.12 4,900 Toyota Tsusho Corp* 159,333 0.01 33,502 Koninklijke Ahold Delhaize NV 887,887 0.07 4,500 Trend Micro Inc/Japan* 218,780 0.02 4,955 Koninklijke DSM NV 539,077 0.05 1,100 Tsuruha Holdings Inc* 89,298 0.01 127,914 Koninklijke KPN NV 402,411 0.03 12,700 Unicharm Corp* 419,610 0.04 26,277 Koninklijke Philips NV 1,067,548 0.09 55 United Urban Investment Corp (Reit) 86,768 0.01 2,836 Koninklijke Vopak NV 134,625 0.01 6,500 USS Co Ltd 120,426 0.01 9,471 LyondellBasell Industries NV ‘A’ 791,397 0.07 2,000 Welcia Holdings Co Ltd* 67,740 0.01 17,065 Mylan NV 483,963 0.04 5,200 West Japan Railway Co 391,132 0.03 8,271 NN Group NV 341,827 0.03 82,900 Yahoo Japan Corp* 202,642 0.02 10,405 NXP Semiconductors NV 915,432 0.08 3,200 Yakult Honsha Co Ltd* 223,407 0.02 7,651 QIAGEN NV 309,504 0.03 19,500 Yamada Denki Co Ltd* 96,036 0.01 2,490 Randstad NV 121,219 0.01 8,000 Yamaguchi Financial Group Inc* 67,686 0.01 18,660 STMicroelectronics NV 274,138 0.02 3,900 Yamaha Corp* 194,534 0.02 43,595 Unilever NV - CVA 2,529,055 0.22 6,500 Yamaha Motor Co Ltd 127,285 0.01 7,141 Wolters Kluwer NV 484,421 0.04 8,100 Yamato Holdings Co Ltd 208,884 0.02 18,980,582 1.62 4,300 Yamazaki Baking Co Ltd 69,659 0.01 5,900 Yaskawa Electric Corp* 184,932 0.02 New Zealand 10,200 Yokogawa Electric Corp* 210,781 0.02 17,882 a2 Milk Co Ltd 174,288 0.01 3,500 Yokohama Rubber Co Ltd/The 64,908 0.01 33,302 Auckland International Airport Ltd 184,631 0.02 4,300 ZOZO Inc 80,907 0.01 11,005 Fisher & Paykel Healthcare Corp Ltd* 117,679 0.01 93,464,674 7.99 29,025 Fletcher Building Ltd 97,856 0.01 38,302 Meridian Energy Ltd 109,176 0.01 Jersey 13,575 Ryman Healthcare Ltd 113,263 0.01 7,003 Aptiv Plc 554,077 0.05 35,706 Spark New Zealand Ltd 92,414 0.01 25,667 Experian Plc 692,287 0.06 889,307 0.08 7,113 Ferguson Plc* 451,243 0.04 316,491 Glencore Plc 1,310,871 0.11 Norway 38,365 WPP Plc 404,136 0.03 2,679 Aker BP ASA 95,450 0.01 3,412,614 0.29 29,671 DNB ASA 546,987 0.05 35,362 Equinor ASA* 778,221 0.07 Liberia 7,338 Gjensidige Forsikring ASA 126,894 0.01 4,881 Royal Caribbean Cruises Ltd 554,238 0.05 12,683 Mowi ASA* 285,076 0.02 554,238 0.05 33,207 Norsk Hydro ASA 134,874 0.01 18,103 Orkla ASA 138,783 0.01 1,981 Schibsted ASA ‘B’ 71,110 0.01 Luxembourg 23,199 Telenor ASA 465,613 0.04 18,025 ArcelorMittal 365,936 0.03 5,571 Yara International ASA 228,083 0.02 20,679 Aroundtown SA 170,996 0.02 378 Eurofins Scientific SE* 155,500 0.01 2,871,091 0.25 1,123 Millicom International Cellular SA SDR 67,949 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[134] BlackRock Global Index Funds (BGIF) iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Panama Spain continued 12,624 Carnival Corp 636,881 0.05 36,277 Repsol SA* 618,893 0.05 636,881 0.05 7,935 Siemens Gamesa Renewable Energy SA 126,107 0.01 Papua New Guinea 139,703 Telefonica SA 1,161,800 0.10 32,300 Oil Search Ltd 179,720 0.02 11,611,321 0.99 179,720 0.02 Sweden Portugal 6,810 Alfa Laval AB* 156,154 0.01 70,245 EDP - Energias de Portugal SA 277,377 0.02 29,195 Assa Abloy AB ‘B’* 628,352 0.05 17,355 Galp Energia SGPS SA* 277,374 0.02 20,086 Atlas Copco AB ‘A’* 536,614 0.05 5,767 Jeronimo Martins SGPS SA* 85,566 0.01 10,724 Atlas Copco AB ‘B’ 264,120 0.02 7,664 Boliden AB 218,017 0.02 640,317 0.05 4,905 Electrolux AB ‘B’* 125,962 0.01 15,884 Epiroc AB ‘A’* 159,514 0.01 Singapore 10,724 Epiroc AB ‘B’ 102,594 0.01 112,100 Ascendas Real Estate Investment 18,424 Essity AB ‘B’ 531,161 0.05 Trust (Reit) 240,773 0.02 22,458 Hennes & Mauritz AB ‘B’* 377,867 0.03 121,960 CapitaLand Commercial Trust (Reit) 174,634 0.02 7,375 Hexagon AB ‘B’ 383,241 0.03 69,300 CapitaLand Ltd 186,696 0.02 6,781 Husqvarna AB ‘B’* 55,262 0.00 86,000 CapitaLand Mall Trust (Reit)* 151,072 0.01 2,876 ICA Gruppen AB 115,268 0.01 14,000 City Developments Ltd 93,516 0.01 2,875 Industrivarden AB ‘C’ 60,032 0.01 74,700 ComfortDelGro Corp Ltd 141,698 0.01 13,651 Investor AB ‘B’ 614,406 0.05 48,891 DBS Group Holdings Ltd 910,447 0.08 8,914 Kinnevik AB ‘B’* 229,781 0.02 12,518 Flex Ltd 124,992 0.01 2,454 L E Lundbergforetagen AB ‘B’ 77,921 0.01 127,900 Genting Singapore Ltd 98,178 0.01 5,634 Lundin Petroleum AB 191,595 0.02 4,222 Jardine Cycle & Carriage Ltd 101,246 0.01 33,725 Sandvik AB* 546,888 0.05 34,300 Keppel Corp Ltd 157,468 0.01 7,909 Securitas AB ‘B’* 127,571 0.01 85,330 Oversea-Chinese Banking Corp Ltd* 695,942 0.06 44,277 Skandinaviska Enskilda 12,300 SATS Ltd 46,391 0.00 Banken AB ‘A’ 383,666 0.03 11,200 Sembcorp Industries Ltd 21,080 0.00 10,861 Skanska AB ‘B’ 197,209 0.02 11,300 Singapore Airlines Ltd 80,568 0.01 11,891 SKF AB ‘B’ 197,892 0.02 27,900 Singapore Exchange Ltd* 150,532 0.01 46,295 Svenska Handelsbanken AB ‘A’ 490,230 0.04 18,000 Singapore Press Holdings Ltd 32,018 0.00 24,886 Swedbank AB ‘A’ 355,106 0.03 54,400 Singapore Technologies 5,204 Swedish Match AB 265,205 0.02 Engineering Ltd* 150,169 0.01 13,195 Tele2 AB ‘B’* 176,685 0.02 212,200 Singapore Telecommunications Ltd* 473,000 0.04 86,468 Telefonaktiebolaget LM Ericsson ‘B’ 792,715 0.07 82,600 Suntec Real Estate Investment 89,645 Telia Co AB* 404,346 0.03 Trust (Reit)* 118,884 0.01 48,634 Volvo AB ‘B’ 751,149 0.06 37,589 United Overseas Bank Ltd* 698,872 0.06 9,516,523 0.81 6,539 UOL Group Ltd 33,543 0.00 6,800 Venture Corp Ltd 90,041 0.01 84,200 Wilmar International Ltd 205,707 0.02 Switzerland 80,000 Yangzijiang Shipbuilding 50,653 ABB Ltd Reg* 949,823 0.08 Holdings Ltd* 88,571 0.01 3,715 Adecco Group AG Reg* 197,606 0.02 1,787 Baloise Holding AG Reg 294,169 0.02 5,266,038 0.45 45 Barry Callebaut AG Reg 81,083 0.01 41 Chocoladefabriken Lindt & Spain Spruengli AG* 277,959 0.02 6,921 ACS Actividades de Construccion y 3 Chocoladefabriken Lindt & Servicios SA 303,906 0.03 Spruengli AG Reg 235,324 0.02 2,302 Aena SME SA ‘144A’ 413,661 0.03 13,418 Chubb Ltd 1,873,958 0.16 12,777 Amadeus IT Group SA 1,014,505 0.09 14,430 Cie Financiere Richemont SA Reg* 1,045,528 0.09 199,590 Banco Bilbao Vizcaya Argentaria SA 1,136,583 0.10 4,526 Clariant AG Reg 94,870 0.01 126,202 Banco de Sabadell SA* 123,953 0.01 5,290 Coca-Cola HBC AG 179,675 0.01 453,603 Banco Santander SA* 2,097,482 0.18 71,119 Credit Suisse Group AG Reg 826,442 0.07 37,737 Bankia SA* 97,534 0.01 969 Dufry AG Reg* 101,022 0.01 14,749 Bankinter SA 111,809 0.01 258 EMS-Chemie Holding AG Reg 140,058 0.01 109,474 CaixaBank SA 340,712 0.03 3,469 Garmin Ltd* 297,189 0.02 5,274 Enagas SA 154,074 0.01 1,118 Geberit AG Reg* 456,228 0.04 7,194 Endesa SA 184,399 0.01 247 Givaudan SA Reg* 630,865 0.05 14,266 Ferrovial SA 333,477 0.03 5,584 Julius Baer Group Ltd* 224,953 0.02 8,510 Grifols SA 239,534 0.02 1,232 Kuehne + Nagel International 180,536 Iberdrola SA 1,588,333 0.13 AG Reg* 167,851 0.01 30,664 Industria de Diseno Textil SA* 898,916 0.08 14,578 LafargeHolcim Ltd Reg* 718,907 0.06 37,169 Mapfre SA 102,075 0.01 2,201 Lonza Group AG Reg* 679,101 0.06 13,326 Naturgy Energy Group SA* 375,391 0.03 87,169 Nestle SA Reg* 8,299,725 0.71 8,805 Red Electrica Corp SA 188,177 0.02 62,203 Novartis AG Reg 5,955,095 0.51
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [135] iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
Switzerland continued United Kingdom continued 1,210 Pargesa Holding SA ‘BR’ 94,732 0.01 75,988 ITV Plc 124,849 0.01 455 Partners Group Holding AG 329,488 0.03 47,937 J Sainsbury Plc* 146,493 0.01 20,259 Roche Holding AG 5,538,593 0.47 19,072 John Wood Group Plc* 126,928 0.01 1,491 Schindler Holding AG 307,889 0.03 7,173 Johnson Matthey Plc 291,742 0.02 640 Schindler Holding AG Reg* 130,616 0.01 56,653 Kingfisher Plc* 173,128 0.01 147 SGS SA Reg 364,233 0.03 16,989 Land Securities Group Plc (Reit) 201,531 0.02 3,534 Sika AG Reg* 489,468 0.04 160,262 Legal & General Group Plc 571,204 0.05 1,592 Sonova Holding AG Reg 314,675 0.03 5,792 Liberty Global Plc ‘A’ 143,873 0.01 261 Straumann Holding AG Reg* 212,203 0.02 13,383 Liberty Global Plc ‘C’* 323,066 0.03 1,048 Swatch Group AG/The ‘BR’* 301,143 0.03 2,085,461 Lloyds Banking Group Plc 1,667,675 0.14 1,275 Swatch Group AG/The Reg 70,559 0.01 9,761 London Stock Exchange Group Plc* 599,246 0.05 1,181 Swiss Life Holding AG Reg 517,522 0.04 48,356 Marks & Spencer Group Plc* 174,801 0.01 2,131 Swiss Prime Site AG Reg 186,956 0.02 32,190 Meggitt Plc 210,717 0.02 7,941 Swiss Re AG* 772,366 0.07 164,753 Melrose Industries Plc 390,403 0.03 696 Swisscom AG Reg* 338,825 0.03 24,750 Merlin Entertainments Plc ‘144A’* 109,833 0.01 10,014 TE Connectivity Ltd 804,925 0.07 7,349 Micro Focus International Plc 190,097 0.02 1,493 Temenos AG Reg 218,780 0.02 2,648 Micro Focus International Plc ADR 68,318 0.01 112,721 UBS Group AG Reg* 1,363,656 0.12 13,531 Mondi Plc* 297,593 0.03 1,011 Vifor Pharma AG* 136,168 0.01 93,810 National Grid Plc* 1,044,040 0.09 4,420 Zurich Insurance Group AG* 1,460,977 0.12 4,846 Next Plc* 349,724 0.03 37,681,205 3.22 9,115 Nielsen Holdings Plc 215,387 0.02 2,538 NMC Health Plc* 75,218 0.01 22,079 Pearson Plc* 241,419 0.02 United Kingdom 7,939 Persimmon Plc 223,624 0.02 25,544 3i Group Plc 326,389 0.03 75,403 Prudential Plc 1,509,638 0.13 6,323 Admiral Group Plc 177,858 0.02 19,644 Reckitt Benckiser Group Plc 1,636,745 0.14 30,157 Anglo American Plc* 804,767 0.07 56,162 RELX Plc* 1,198,695 0.10 16,733 Antofagasta Plc* 210,587 0.02 32,173 Rio Tinto Plc 1,866,011 0.16 6,601 Aon Plc 1,120,652 0.10 44,334 Rolls-Royce Holdings Plc 521,375 0.04 12,198 Ashtead Group Plc 294,121 0.03 156,613 Royal Bank of Scotland Group Plc 499,772 0.04 11,432 Associated British Foods Plc* 363,175 0.03 129,923 Royal Dutch Shell Plc ‘A’ 4,072,549 0.35 35,937 AstraZeneca Plc* 2,862,086 0.24 105,132 Royal Dutch Shell Plc ‘B’ 3,318,685 0.28 27,541 Auto Trader Group Plc ‘144A’* 186,657 0.02 27,179 Royal Mail Plc* 84,469 0.01 105,170 Aviva Plc 562,542 0.05 21,938 RSA Insurance Group Plc 144,805 0.01 8,716 Babcock International Group Plc* 56,398 0.00 28,095 Sage Group Plc/The* 255,781 0.02 82,805 BAE Systems Plc 515,567 0.04 5,404 Schroders Plc* 189,307 0.02 480,733 Barclays Plc* 959,066 0.08 39,469 Segro Plc (Reit) 344,453 0.03 36,087 Barratt Developments Plc 279,476 0.02 3,909 Sensata Technologies Holding Plc 175,397 0.01 4,056 Berkeley Group Holdings Plc 196,020 0.02 5,832 Severn Trent Plc* 151,235 0.01 61,176 BHP Group Plc* 1,469,585 0.13 29,052 Smith & Nephew Plc 574,756 0.05 566,262 BP Plc* 4,090,259 0.35 14,857 Smiths Group Plc 274,255 0.02 65,754 British American Tobacco Plc 2,723,938 0.23 27,424 SSE Plc 426,339 0.04 20,904 British Land Co Plc/The (Reit) 159,772 0.01 14,831 St James’s Place Plc 196,154 0.02 221,144 BT Group Plc 638,438 0.05 81,151 Standard Chartered Plc* 624,360 0.05 12,512 Bunzl Plc* 412,610 0.04 66,668 Standard Life Aberdeen Plc* 228,215 0.02 10,327 Burberry Group Plc* 262,497 0.02 119,816 Taylor Wimpey Plc 273,095 0.02 4,993 Carnival Plc 243,965 0.02 11,164 TechnipFMC Plc 261,572 0.02 128,617 Centrica Plc 192,812 0.02 282,494 Tesco Plc 857,044 0.07 4,588 Coca-Cola European Partners Plc 32,615 Unilever Plc 1,865,998 0.16 (traded in Netherlands) 237,469 0.02 21,598 United Utilities Group Plc* 231,612 0.02 2,688 Coca-Cola European Partners Plc 726,766 Vodafone Group Plc* 1,315,381 0.11 (traded in United States) 139,185 0.01 6,287 Weir Group Plc/The* 126,137 0.01 43,822 Compass Group Plc* 1,022,901 0.09 5,866 Whitbread Plc 387,803 0.03 37,956 ConvaTec Group Plc ‘144A’ 70,034 0.01 63,465 Wm Morrison Supermarkets Plc* 187,243 0.02 4,483 Croda International Plc 293,809 0.03 67,674 Diageo Plc* 2,765,651 0.24 65,543,178 5.60 54,037 Direct Line Insurance Group Plc 247,596 0.02 2,651 easyJet Plc 37,957 0.00 United States 4,005 Fresnillo Plc* 45,614 0.00 16,616 3M Co 3,435,524 0.29 42,281 G4S Plc 100,657 0.01 50,589 Abbott Laboratories* 4,012,719 0.34 139,676 GlaxoSmithKline Plc 2,896,209 0.25 43,188 AbbVie Inc* 3,473,179 0.30 14,501 Hammerson Plc (Reit) 63,465 0.01 1,097 ABIOMED Inc 313,742 0.03 7,234 Hargreaves Lansdown Plc* 174,757 0.01 19,819 Activision Blizzard Inc 893,044 0.08 575,259 HSBC Holdings Plc* 4,667,455 0.40 1,706 Acuity Brands Inc 204,106 0.02 26,788 Imperial Brands Plc 916,124 0.08 14,192 Adobe Inc 3,770,105 0.32 31,282 Informa Plc 303,012 0.03 2,064 Advance Auto Parts Inc 350,942 0.03 5,906 InterContinental Hotels Group Plc 355,057 0.03 28,201 Advanced Micro Devices Inc 715,177 0.06 4,162 Intertek Group Plc 262,221 0.02 19,176 AES Corp/VA* 347,277 0.03 13,065 Investec Plc 74,978 0.01 1,260 Affiliated Managers Group Inc 134,681 0.01
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[136] BlackRock Global Index Funds (BGIF) iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 21,450 Aflac Inc 1,067,567 0.09 6,337 Best Buy Co Inc 450,054 0.04 8,659 Agilent Technologies Inc 692,893 0.06 5,729 Biogen Inc 1,344,539 0.11 17,108 AGNC Investment Corp (Reit) 308,457 0.03 5,365 BioMarin Pharmaceutical Inc 473,890 0.04 6,158 Air Products & Chemicals Inc 1,164,478 0.10 3,201 BlackRock Inc 1,367,467 0.12 5,759 Akamai Technologies Inc 411,135 0.04 15,356 Boeing Co/The 5,830,366 0.50 2,931 Albemarle Corp 237,997 0.02 1,333 Booking Holdings Inc 2,324,472 0.20 3,255 Alexandria Real Estate Equities 4,872 BorgWarner Inc 187,280 0.02 Inc (Reit) 464,847 0.04 4,353 Boston Properties Inc (Reit) 583,563 0.05 6,692 Alexion Pharmaceuticals Inc 896,193 0.08 38,975 Boston Scientific Corp 1,486,896 0.13 1,998 Align Technology Inc 559,680 0.05 3,274 Brighthouse Financial Inc 118,633 0.01 378 Alleghany Corp 232,081 0.02 45,996 Bristol-Myers Squibb Co 2,164,572 0.18 1,152 Alliance Data Systems Corp 199,780 0.02 11,959 Broadcom Inc* 3,586,265 0.31 7,316 Alliant Energy Corp 343,998 0.03 3,097 Broadridge Financial Solutions Inc 318,372 0.03 10,143 Allstate Corp/The 952,326 0.08 6,809 Brookfield Property REIT 10,641 Ally Financial Inc 292,521 0.02 Inc ‘A’ (Reit) 140,878 0.01 2,427 Alnylam Pharmaceuticals Inc 226,633 0.02 6,625 Brown-Forman Corp ‘B’ 347,349 0.03 8,575 Alphabet Inc ‘A’ 10,016,886 0.86 2,045 Burlington Stores Inc* 319,061 0.03 9,010 Alphabet Inc ‘C’ 10,501,696 0.90 12,951 Cabot Oil & Gas Corp 338,151 0.03 9,000 Altice USA Inc ‘A’ 191,835 0.02 7,664 Cadence Design Systems Inc 483,445 0.04 53,692 Altria Group Inc 3,054,001 0.26 2,622 Camden Property Trust (Reit) 266,815 0.02 11,901 Amazon.com Inc 21,192,706 1.81 5,007 Campbell Soup Co 189,465 0.02 302 AMERCO 113,709 0.01 13,212 Capital One Financial Corp 1,083,648 0.09 6,577 Ameren Corp 481,963 0.04 9,458 Cardinal Health Inc 450,768 0.04 2,329 American Airlines Group Inc 73,037 0.01 4,978 CarMax Inc 343,880 0.03 13,926 American Electric Power Co Inc 1,166,581 0.10 16,765 Caterpillar Inc 2,261,263 0.19 20,719 American Express Co* 2,276,604 0.19 3,033 Cboe Global Markets Inc 288,196 0.02 2,286 American Financial Group Inc/OH 219,182 0.02 8,674 CBRE Group Inc ‘A’* 427,802 0.04 24,534 American International Group Inc 1,055,698 0.09 9,839 CBS Corp ‘B non-voting share’ 466,270 0.04 12,673 American Tower Corp (Reit)* 2,471,235 0.21 2,928 CDK Global Inc 170,790 0.01 5,609 American Water Works Co Inc* 585,299 0.05 4,681 CDW Corp/DE 449,376 0.04 3,592 Ameriprise Financial Inc 459,273 0.04 3,685 Celanese Corp* 361,941 0.03 5,191 AmerisourceBergen Corp* 407,442 0.03 19,931 Celgene Corp 1,855,377 0.16 7,098 AMETEK Inc 586,863 0.05 11,856 Centene Corp 622,440 0.05 18,414 Amgen Inc 3,495,806 0.30 15,104 CenterPoint Energy Inc 461,880 0.04 9,155 Amphenol Corp ‘A’ 860,936 0.07 29,207 CenturyLink Inc 350,046 0.03 13,353 Anadarko Petroleum Corp 607,027 0.05 8,615 Cerner Corp 489,074 0.04 10,900 Analog Devices Inc* 1,143,410 0.10 5,937 CF Industries Holdings Inc 239,558 0.02 42,578 Annaly Capital Management 3,869 CH Robinson Worldwide Inc 335,636 0.03 Inc (Reit) 425,567 0.04 35,708 Charles Schwab Corp/The 1,528,659 0.13 2,286 ANSYS Inc 415,869 0.04 4,536 Charter Communications Inc ‘A’ 1,570,635 0.13 7,365 Anthem Inc 2,087,020 0.18 5,285 Chemours Co/The 194,541 0.02 3,619 AO Smith Corp 192,820 0.02 6,782 Cheniere Energy Inc* 455,547 0.04 10,184 Apache Corp 356,134 0.03 54,715 Chevron Corp 6,706,965 0.57 135,885 Apple Inc 25,663,241 2.19 634 Chipotle Mexican Grill Inc 445,509 0.04 29,179 Applied Materials Inc 1,149,069 0.10 7,236 Church & Dwight Co Inc* 512,309 0.04 8,894 Aramark 263,173 0.02 11,207 CIGNA Corp 1,783,482 0.15 14,679 Archer-Daniels-Midland Co 629,142 0.05 2,580 Cimarex Energy Co 180,806 0.02 11,038 Arconic Inc 211,819 0.02 4,166 Cincinnati Financial Corp 356,276 0.03 1,421 Arista Networks Inc 444,332 0.04 2,760 Cintas Corp 552,911 0.05 2,127 Arrow Electronics Inc 164,183 0.01 128,743 Cisco Systems Inc 6,876,164 0.59 5,506 Arthur J Gallagher & Co 426,440 0.04 3,671 CIT Group Inc 177,089 0.02 1,298 Assurant Inc 123,037 0.01 69,624 Citigroup Inc 4,333,398 0.37 208,407 AT&T Inc 6,487,710 0.55 14,867 Citizens Financial Group Inc 483,772 0.04 3,179 Atmos Energy Corp 326,515 0.03 3,497 Citrix Systems Inc 349,455 0.03 6,105 Autodesk Inc* 947,191 0.08 3,295 Clorox Co/The* 525,750 0.04 2,056 Autoliv Inc 151,054 0.01 10,179 CME Group Inc 1,663,045 0.14 12,577 Automatic Data Processing Inc 1,998,863 0.17 7,541 CMS Energy Corp 417,017 0.04 759 AutoZone Inc 769,064 0.07 115,792 Coca-Cola Co/The 5,398,802 0.46 3,656 AvalonBay Communities Inc (Reit) 734,308 0.06 4,400 Cognex Corp 223,344 0.02 3,073 Avery Dennison Corp 347,157 0.03 16,261 Cognizant Technology Solutions 6,391 AXA Equitable Holdings Inc 128,203 0.01 Corp ‘A’ 1,175,670 0.10 15,768 Baker Hughes a GE Co 432,043 0.04 23,933 Colgate-Palmolive Co 1,617,631 0.14 9,333 Ball Corp 541,874 0.05 131,094 Comcast Corp ‘A’* 5,205,743 0.44 266,980 Bank of America Corp 7,301,903 0.62 5,251 Comerica Inc 383,691 0.03 29,159 Bank of New York Mellon Corp/The 1,468,156 0.13 5,834 CommScope Holding Co Inc 125,548 0.01 14,156 Baxter International Inc 1,141,398 0.10 14,286 Conagra Brands Inc* 393,722 0.03 21,127 BB&T Corp 982,194 0.08 5,920 Concho Resources Inc* 659,606 0.06 7,665 Becton Dickinson and Co 1,901,073 0.16 32,352 ConocoPhillips 2,171,790 0.19 37,073 Berkshire Hathaway Inc ‘B’* 7,433,507 0.64 8,195 Consolidated Edison Inc 693,133 0.06
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [137] iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 4,945 Constellation Brands Inc ‘A’ 858,106 0.07 8,403 Fastenal Co* 538,380 0.05 2,876 Continental Resources Inc/OK 129,621 0.01 1,861 Federal Realty Investment 1,496 Cooper Cos Inc/The 441,709 0.04 Trust (Reit) 258,660 0.02 7,103 Copart Inc 427,743 0.04 7,212 FedEx Corp 1,305,228 0.11 24,163 Corning Inc 798,104 0.07 7,885 Fidelity National Financial Inc 289,616 0.02 995 CoStar Group Inc 462,655 0.04 9,327 Fidelity National Information 12,771 Costco Wholesale Corp* 3,076,917 0.26 Services Inc 1,047,982 0.09 11,224 Coty Inc ‘A’* 128,403 0.01 22,271 Fifth Third Bancorp 565,015 0.05 12,215 Crown Castle International 17,240 First Data Corp ‘A’ 452,378 0.04 Corp (Reit) 1,551,305 0.13 4,571 First Republic Bank/CA 462,631 0.04 3,524 Crown Holdings Inc 193,468 0.02 15,561 FirstEnergy Corp 645,003 0.06 22,572 CSX Corp* 1,689,063 0.14 11,378 Fiserv Inc 1,002,174 0.09 4,370 Cummins Inc 686,571 0.06 2,699 FleetCor Technologies Inc 663,279 0.06 37,460 CVS Health Corp 2,002,949 0.17 3,938 FLIR Systems Inc 186,543 0.02 17,956 Danaher Corp 2,343,078 0.20 3,226 Flowserve Corp 146,041 0.01 3,811 Darden Restaurants Inc* 464,904 0.04 3,577 Fluor Corp 132,564 0.01 3,127 DaVita Inc 168,483 0.01 4,518 FMC Corp 345,943 0.03 8,771 Deere & Co* 1,405,553 0.12 103,131 Ford Motor Co 901,365 0.08 4,111 Dell Technologies Inc ‘C’ 237,369 0.02 4,103 Fortinet Inc 341,780 0.03 6,259 Delta Air Lines Inc 320,586 0.03 8,269 Fortive Corp* 690,710 0.06 6,258 Dentsply Sirona Inc 308,519 0.03 3,549 Fortune Brands Home & Security Inc 168,116 0.01 13,459 Devon Energy Corp 427,996 0.04 9,660 Fox Corp ‘A’* 350,175 0.03 2,363 DexCom Inc 279,921 0.02 4,064 Fox Corp ‘B’ 143,988 0.01 4,002 Diamondback Energy Inc 409,525 0.03 7,716 Franklin Resources Inc 255,863 0.02 6,309 Digital Realty Trust Inc (Reit)* 752,033 0.06 36,238 Freeport-McMoRan Inc* 464,390 0.04 8,947 Discover Financial Services 639,979 0.05 8,370 Gap Inc/The 219,796 0.02 5,242 Discovery Inc ‘A’ 141,482 0.01 2,537 Gartner Inc* 384,254 0.03 6,903 Discovery Inc ‘C’ 175,543 0.01 245,624 General Electric Co* 2,444,204 0.21 5,247 DISH Network Corp ‘A’ 163,628 0.01 16,795 General Mills Inc 864,103 0.07 7,127 Dollar General Corp 850,322 0.07 38,079 General Motors Co* 1,419,585 0.12 7,171 Dollar Tree Inc* 742,700 0.06 3,777 Genuine Parts Co 422,344 0.04 22,164 Dominion Energy Inc* 1,678,036 0.14 36,329 Gilead Sciences Inc 2,371,194 0.20 1,082 Domino’s Pizza Inc 279,643 0.02 4,098 Global Payments Inc 557,164 0.05 3,719 Dover Corp 348,545 0.03 5,346 GoDaddy Inc ‘A’ 401,485 0.03 65,705 DowDuPont Inc 3,389,064 0.29 9,490 Goldman Sachs Group Inc/The 1,816,671 0.16 9,116 DR Horton Inc 379,909 0.03 5,394 Goodyear Tire & Rubber Co/The 97,955 0.01 5,579 DTE Energy Co 692,187 0.06 2,419 GrubHub Inc 165,677 0.01 20,295 Duke Energy Corp 1,815,388 0.16 4,088 H&R Block Inc 98,276 0.01 11,467 Duke Realty Corp (Reit) 352,266 0.03 24,853 Halliburton Co 725,459 0.06 8,717 DXC Technology Co 563,990 0.05 13,952 Hanesbrands Inc* 249,741 0.02 6,748 E*TRADE Financial Corp 313,175 0.03 3,931 Harley-Davidson Inc* 141,319 0.01 3,754 East West Bancorp Inc 181,393 0.02 3,480 Harris Corp 557,461 0.05 3,591 Eastman Chemical Co 272,018 0.02 10,631 Hartford Financial Services 3,185 Eaton Vance Corp 128,770 0.01 Group Inc/The 525,490 0.04 26,588 eBay Inc 980,831 0.08 3,020 Hasbro Inc* 257,817 0.02 7,747 Ecolab Inc 1,360,218 0.12 7,996 HCA Healthcare Inc 1,037,401 0.09 8,662 Edison International 538,170 0.05 13,008 HCP Inc (Reit) 410,142 0.03 5,855 Edwards Lifesciences Corp 1,110,928 0.09 5,493 HD Supply Holdings Inc 235,320 0.02 7,733 Elanco Animal Health Inc* 250,085 0.02 3,267 Helmerich & Payne Inc 182,527 0.02 8,807 Electronic Arts Inc* 892,413 0.08 4,702 Henry Schein Inc* 280,145 0.02 25,593 Eli Lilly & Co* 3,316,085 0.28 4,276 Hershey Co/The 489,559 0.04 17,235 Emerson Electric Co 1,171,635 0.10 7,165 Hess Corp* 436,062 0.04 4,617 Entergy Corp 440,139 0.04 45,053 Hewlett Packard Enterprise Co 694,717 0.06 16,922 EOG Resources Inc 1,610,805 0.14 8,153 Hilton Worldwide Holdings Inc* 679,308 0.06 3,757 Equifax Inc* 441,898 0.04 4,167 HollyFrontier Corp 207,808 0.02 2,328 Equinix Inc (Reit) 1,039,731 0.09 7,655 Hologic Inc 364,684 0.03 9,731 Equity Residential (Reit) 733,912 0.06 32,064 Home Depot Inc/The 6,125,186 0.52 2,076 Essex Property Trust Inc (Reit) 602,787 0.05 21,540 Honeywell International Inc 3,404,612 0.29 6,519 Estee Lauder Cos Inc/The ‘A’* 1,071,398 0.09 8,963 Hormel Foods Corp* 397,061 0.03 6,714 Evergy Inc 390,486 0.03 24,401 Host Hotels & Resorts Inc (Reit) 464,473 0.04 9,195 Eversource Energy 649,535 0.06 45,854 HP Inc 884,753 0.08 28,403 Exelon Corp 1,419,014 0.12 3,761 Humana Inc 988,917 0.08 3,743 Expedia Group Inc 448,449 0.04 30,592 Huntington Bancshares Inc/OH* 390,354 0.03 5,830 Expeditors International of 1,194 Huntington Ingalls Industries Inc 247,188 0.02 Washington Inc 440,690 0.04 2,204 IAC Via InterActive Corp 462,047 0.04 3,265 Extra Space Storage Inc (Reit) 333,683 0.03 1,951 IDEX Corp 295,294 0.03 121,236 Exxon Mobil Corp 9,774,046 0.83 2,284 IDEXX Laboratories Inc 505,655 0.04 1,465 F5 Networks Inc 229,990 0.02 8,478 Illinois Tool Works Inc 1,216,423 0.10 68,795 Facebook Inc ‘A’ 11,360,118 0.97 4,099 Illumina Inc 1,256,630 0.11
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[138] BlackRock Global Index Funds (BGIF) iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 5,536 Incyte Corp 476,373 0.04 8,517 Macy’s Inc* 204,323 0.02 1,689 Ingredion Inc 158,242 0.01 1,438 ManpowerGroup Inc 118,951 0.01 131,336 Intel Corp 7,036,983 0.60 21,921 Marathon Oil Corp 366,738 0.03 15,662 Intercontinental Exchange Inc 1,181,698 0.10 19,172 Marathon Petroleum Corp 1,146,869 0.10 25,715 International Business Machines 362 Markel Corp 361,620 0.03 Corp 3,608,586 0.31 8,669 Marriott International Inc/MD ‘A’ 1,082,498 0.09 – International Flavors & Fragrances 14,983 Marsh & McLennan Cos Inc 1,398,363 0.12 Inc (traded in Israel) 18 0.00 1,975 Martin Marietta Materials Inc 398,713 0.03 2,795 International Flavors & Fragrances 8,617 Masco Corp 339,165 0.03 Inc (traded in United States) 359,297 0.03 26,426 Mastercard Inc ‘A’ 6,199,804 0.53 10,002 International Paper Co 459,492 0.04 10,058 Mattel Inc 130,653 0.01 8,905 Interpublic Group of Cos Inc/The 186,560 0.02 7,138 Maxim Integrated Products Inc 378,600 0.03 6,935 Intuit Inc 1,802,961 0.15 3,448 McCormick & Co Inc/MD 3,278 Intuitive Surgical Inc 1,850,431 0.16 ‘non-voting share’* 515,890 0.04 8,312 Invitation Homes Inc (Reit) 201,982 0.02 21,921 McDonald’s Corp* 4,161,702 0.36 1,079 IPG Photonics Corp 162,864 0.01 5,985 McKesson Corp 694,918 0.06 4,664 IQVIA Holdings Inc 665,226 0.06 1,315 MercadoLibre Inc 664,377 0.06 7,683 Iron Mountain Inc (Reit) 274,590 0.02 74,462 Merck & Co Inc 6,182,208 0.53 1,951 Jack Henry & Associates Inc 270,272 0.02 25,183 MetLife Inc 1,072,670 0.09 3,733 Jacobs Engineering Group Inc* 280,908 0.02 700 Mettler-Toledo International Inc 500,374 0.04 3,162 JB Hunt Transport Services Inc* 320,405 0.03 13,156 MGM Resorts International 340,740 0.03 6,759 Jefferies Financial Group Inc 127,002 0.01 6,231 Microchip Technology Inc 512,936 0.04 3,541 JM Smucker Co/The* 411,004 0.04 31,380 Micron Technology Inc 1,288,463 0.11 76,799 Johnson & Johnson 10,683,509 0.91 208,820 Microsoft Corp 24,465,351 2.09 1,282 Jones Lang LaSalle Inc* 199,159 0.02 3,642 Mid-America Apartment 95,429 JPMorgan Chase & Co 9,623,060 0.82 Communities Inc (Reit) 398,508 0.03 11,386 Juniper Networks Inc 299,793 0.03 2,100 Middleby Corp/The 270,732 0.02 2,739 Kansas City Southern 321,531 0.03 1,456 Mohawk Industries Inc 183,951 0.02 7,598 Kellogg Co 433,466 0.04 5,090 Molson Coors Brewing Co ‘B’ 304,993 0.03 30,655 KeyCorp 483,276 0.04 41,905 Mondelez International Inc ‘A’ 2,075,555 0.18 6,075 Keysight Technologies Inc 527,249 0.04 12,782 Monster Beverage Corp 690,100 0.06 9,791 Kimberly-Clark Corp 1,207,426 0.10 5,198 Moody’s Corp* 937,875 0.08 12,595 Kimco Realty Corp (Reit) 234,015 0.02 38,213 Morgan Stanley 1,608,385 0.14 55,248 Kinder Morgan Inc/DE 1,101,093 0.09 10,180 Mosaic Co/The 279,339 0.02 14,997 KKR & Co Inc ‘A’* 349,430 0.03 4,532 Motorola Solutions Inc 632,984 0.05 4,665 KLA-Tencor Corp 551,450 0.05 2,881 MSCI Inc 569,775 0.05 2,732 Knight-Swift Transportation 4,024 Nasdaq Inc 351,295 0.03 Holdings Inc 89,336 0.01 11,924 National Oilwell Varco Inc* 315,867 0.03 4,477 Kohl’s Corp 309,271 0.03 4,181 National Retail Properties Inc (Reit)* 232,213 0.02 17,047 Kraft Heinz Co/The 556,244 0.05 3,933 Nektar Therapeutics 131,048 0.01 20,684 Kroger Co/The 508,516 0.04 7,100 NetApp Inc 485,853 0.04 6,663 L Brands Inc 185,032 0.02 12,337 Netflix Inc 4,377,661 0.37 2,366 L3 Technologies Inc 489,218 0.04 11,294 Newell Brands Inc 172,234 0.01 2,977 Laboratory Corp of 15,457 Newmont Mining Corp 555,215 0.05 America Holdings 451,790 0.04 10,596 News Corp ‘A’ 131,020 0.01 4,150 Lam Research Corp* 739,530 0.06 13,632 NextEra Energy Inc* 2,622,388 0.22 3,917 Lamb Weston Holdings Inc 291,386 0.02 35,885 NIKE Inc ‘B’ 3,037,665 0.26 11,747 Las Vegas Sands Corp 712,338 0.06 12,837 NiSource Inc 368,550 0.03 1,821 Lear Corp* 247,601 0.02 12,897 Noble Energy Inc 321,651 0.03 3,821 Leggett & Platt Inc 162,240 0.01 2,988 Nordstrom Inc 133,265 0.01 3,414 Leidos Holdings Inc 219,691 0.02 7,824 Norfolk Southern Corp* 1,463,010 0.12 7,565 Lennar Corp ‘A’ 374,392 0.03 5,754 Northern Trust Corp 520,104 0.04 908 Lennox International Inc 239,703 0.02 8,951 NRG Energy Inc 381,044 0.03 2,535 Liberty Broadband Corp ‘C’* 232,003 0.02 9,100 Nucor Corp 530,348 0.05 5,928 Liberty Media Corp-Liberty 16,939 NVIDIA Corp 3,022,426 0.26 Formula One ‘C’ 206,235 0.02 124 NVR Inc 347,475 0.03 1,794 Liberty Media Corp-Liberty 2,366 O’Reilly Automotive Inc* 918,150 0.08 SiriusXM ‘A’ 67,383 0.01 22,272 Occidental Petroleum Corp 1,477,079 0.13 4,803 Liberty Media Corp-Liberty 5,820 OGE Energy Corp 250,376 0.02 SiriusXM ‘C’ 180,833 0.02 1,586 Old Dominion Freight Line Inc 229,383 0.02 4,206 Liberty Property Trust (Reit) 205,085 0.02 6,653 Omnicom Group Inc 486,201 0.04 5,439 Lincoln National Corp 319,106 0.03 10,601 ON Semiconductor Corp 217,427 0.02 5,409 Live Nation Entertainment Inc 343,958 0.03 11,729 ONEOK Inc* 815,048 0.07 11,382 LKQ Corp 322,338 0.03 74,869 Oracle Corp* 3,998,753 0.34 7,165 Loews Corp 343,275 0.03 3,215 Owens Corning 151,877 0.01 23,057 Lowe’s Cos Inc 2,519,900 0.22 9,377 PACCAR Inc 640,262 0.05 2,525 Lululemon Athletica Inc 416,171 0.04 3,109 Packaging Corp of America 306,174 0.03 3,589 M&T Bank Corp 565,339 0.05 2,780 Palo Alto Networks Inc 667,812 0.06 2,440 Macerich Co/The (Reit) 106,360 0.01 4,084 Parker-Hannifin Corp 699,099 0.06
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [139] iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 6,471 Parsley Energy Inc ‘A’ 125,279 0.01 4,129 Stanley Black & Decker Inc 560,842 0.05 8,624 Paychex Inc 687,592 0.06 35,117 Starbucks Corp* 2,597,604 0.22 32,148 PayPal Holdings Inc 3,335,998 0.28 11,041 State Street Corp 730,031 0.06 14,656 People’s United Financial Inc 242,264 0.02 5,544 Steel Dynamics Inc 194,927 0.02 40,694 PepsiCo Inc 4,952,867 0.42 9,417 Stryker Corp* 1,846,109 0.16 164,281 Pfizer Inc 6,937,587 0.59 13,067 SunTrust Banks Inc 774,742 0.07 44,819 Philip Morris International Inc 3,943,176 0.34 1,675 SVB Financial Group 373,743 0.03 13,206 Phillips 66 1,248,627 0.11 18,793 Symantec Corp 430,172 0.04 3,556 Pinnacle West Capital Corp 339,242 0.03 18,365 Synchrony Financial 587,496 0.05 4,765 Pioneer Natural Resources Co 732,047 0.06 4,150 Synopsys Inc 473,266 0.04 4,010 Plains GP Holdings LP ‘A’ 99,448 0.01 14,547 Sysco Corp 964,030 0.08 12,666 PNC Financial Services Group 7,418 T Rowe Price Group Inc 738,536 0.06 Inc/The 1,556,778 0.13 10,141 T-Mobile US Inc* 692,630 0.06 1,806 Polaris Industries Inc 153,004 0.01 2,000 Tableau Software Inc ‘A’ 251,740 0.02 7,067 PPG Industries Inc* 794,331 0.07 3,172 Take-Two Interactive Software Inc 300,293 0.03 21,883 PPL Corp 692,050 0.06 7,109 Tapestry Inc 234,881 0.02 8,743 Principal Financial Group Inc 438,112 0.04 6,319 Targa Resources Corp* 261,038 0.02 71,342 Procter & Gamble Co/The 7,363,921 0.63 14,396 Target Corp* 1,156,863 0.10 16,294 Progressive Corp/The* 1,179,686 0.10 7,322 TD Ameritrade Holding Corp 368,004 0.03 17,314 Prologis Inc (Reit) 1,245,223 0.11 1,454 Teleflex Inc 435,691 0.04 11,817 Prudential Financial Inc 1,084,919 0.09 3,616 Tesla Inc* 1,005,682 0.09 2,994 PTC Inc* 274,849 0.02 27,077 Texas Instruments Inc 2,858,248 0.24 14,447 Public Service Enterprise Group Inc 851,506 0.07 11,554 Thermo Fisher Scientific Inc 3,129,863 0.27 4,488 Public Storage (Reit) 980,448 0.08 2,883 Tiffany & Co* 303,090 0.03 7,505 PulteGroup Inc 212,316 0.02 34,764 TJX Cos Inc/The 1,848,054 0.16 1,904 PVH Corp 233,716 0.02 2,548 Torchmark Corp 208,783 0.02 2,933 Qorvo Inc 208,918 0.02 4,452 Total System Services Inc 424,231 0.04 34,368 QUALCOMM Inc 1,961,382 0.17 3,468 Tractor Supply Co 336,431 0.03 3,701 Quest Diagnostics Inc 331,943 0.03 1,454 TransDigm Group Inc* 656,946 0.06 10,754 Qurate Retail Inc 171,903 0.01 6,250 TransUnion* 415,188 0.04 1,601 Ralph Lauren Corp 208,194 0.02 7,881 Travelers Cos Inc/The 1,080,012 0.09 4,327 Raymond James Financial Inc 347,025 0.03 6,256 Trimble Inc 252,555 0.02 8,245 Raytheon Co 1,496,467 0.13 4,127 TripAdvisor Inc 213,448 0.02 7,792 Realty Income Corp (Reit) 572,089 0.05 20,759 Twitter Inc 677,989 0.06 5,295 Red Hat Inc 965,808 0.08 7,859 Tyson Foods Inc ‘A’ 540,463 0.05 4,252 Regency Centers Corp (Reit) 289,093 0.02 8,400 UDR Inc (Reit) 382,956 0.03 2,252 Regeneron Pharmaceuticals Inc 922,487 0.08 5,136 UGI Corp 284,843 0.02 27,562 Regions Financial Corp 390,278 0.03 1,751 Ulta Salon Cosmetics & 1,522 Reinsurance Group of America Inc 215,744 0.02 Fragrance Inc* 609,050 0.05 6,963 Republic Services Inc 558,572 0.05 6,415 Under Armour Inc ‘A’ 137,858 0.01 4,418 ResMed Inc 456,910 0.04 6,521 Under Armour Inc ‘C’ 124,616 0.01 3,652 Robert Half International Inc 238,293 0.02 20,963 Union Pacific Corp 3,500,192 0.30 3,384 Rockwell Automation Inc 592,809 0.05 2,097 United Continental Holdings Inc* 166,607 0.01 4,806 Rollins Inc* 200,891 0.02 19,703 United Parcel Service Inc ‘B’* 2,197,279 0.19 3,062 Roper Technologies Inc* 1,040,468 0.09 2,148 United Rentals Inc 244,700 0.02 10,612 Ross Stores Inc 984,475 0.08 23,852 United Technologies Corp* 3,049,240 0.26 7,406 S&P Global Inc 1,553,705 0.13 1,307 United Therapeutics Corp 154,226 0.01 7,788 Sabre Corp 166,430 0.01 27,548 UnitedHealth Group Inc 6,720,748 0.57 21,821 salesforce.com Inc 3,439,644 0.29 2,156 Universal Health Services Inc ‘B’ 288,732 0.02 3,363 SBA Communications Corp (Reit) 658,845 0.06 7,403 Unum Group 250,518 0.02 4,784 Sealed Air Corp* 221,930 0.02 43,592 US Bancorp 2,094,596 0.18 2,793 Seattle Genetics Inc* 201,906 0.02 1,129 Vail Resorts Inc 246,924 0.02 3,179 SEI Investments Co 166,325 0.01 12,013 Valero Energy Corp 1,007,891 0.09 8,232 Sempra Energy* 1,028,918 0.09 2,987 Varian Medical Systems Inc 423,586 0.04 5,049 ServiceNow Inc 1,238,469 0.11 4,017 Veeva Systems Inc ‘A’ 505,780 0.04 2,363 Sherwin-Williams Co/The 1,015,594 0.09 10,299 Ventas Inc (Reit) 660,063 0.06 2,057 Signature Bank/New York NY 266,299 0.02 29,903 VEREIT Inc (Reit) 251,335 0.02 8,804 Simon Property Group Inc (Reit) 1,612,453 0.14 3,393 VeriSign Inc 616,372 0.05 45,137 Sirius XM Holdings Inc 254,573 0.02 4,435 Verisk Analytics Inc 589,944 0.05 5,965 Skyworks Solutions Inc* 487,281 0.04 118,321 Verizon Communications Inc 6,956,092 0.59 2,237 SL Green Realty Corp (Reit) 201,487 0.02 7,529 Vertex Pharmaceuticals Inc 1,372,461 0.12 1,327 Snap-on Inc 206,349 0.02 10,122 VF Corp 886,687 0.08 29,780 Southern Co/The* 1,533,670 0.13 12,207 Viacom Inc ‘B’ 336,425 0.03 3,207 Southwest Airlines Co 163,846 0.01 50,531 Visa Inc ‘A’* 7,835,842 0.67 3,252 Spirit AeroSystems Holdings Inc ‘A’ 297,721 0.03 8,560 Vistra Energy Corp 222,303 0.02 4,532 Splunk Inc 564,415 0.05 2,555 VMware Inc ‘A’ 456,068 0.04 25,589 Sprint Corp 141,635 0.01 4,552 Vornado Realty Trust (Reit)* 307,943 0.03 9,345 Square Inc ‘A’ 699,473 0.06 4,952 Voya Financial Inc 248,937 0.02 7,224 SS&C Technologies Holdings Inc* 456,846 0.04 3,538 Vulcan Materials Co 417,342 0.04
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
[140] BlackRock Global Index Funds (BGIF) iShares World Equity Index Fund (LU) continued
Portfolio of Investments as at 31 March 2019 Transferable Securities and Money Market Instruments Admitted to an Transferable Securities and Money Market Instruments Admitted to an Official Stock Exchange Listing or Dealt in on Another Regulated Market Official Stock Exchange Listing or Dealt in on Another Regulated Market Market % of Market % of Value Net Value Net Holding Description USD Assets Holding Description USD Assets
United States continued United States continued 2,117 WABCO Holdings Inc 279,338 0.02 5,798 Zayo Group Holdings Inc 164,547 0.01 3,884 Wabtec Corp 283,920 0.02 3,119 Zillow Group Inc ‘C’* 107,606 0.01 23,980 Walgreens Boots Alliance Inc 1,522,970 0.13 6,031 Zimmer Biomet Holdings Inc 763,826 0.07 41,766 Walmart Inc 4,061,326 0.35 4,863 Zions Bancorp NA 220,877 0.02 51,769 Walt Disney Co/The 5,723,063 0.49 13,351 Zoetis Inc 1,336,168 0.11 12,096 Waste Management Inc* 1,252,057 0.11 674,312,562 57.61 1,959 Waters Corp 489,946 0.04 1,516 Wayfair Inc ‘A’* 229,962 0.02 Total Common / Preferred Stocks (Shares) 1,132,166,989 96.73 8,996 WEC Energy Group Inc* 707,266 0.06 Total Transferable Securities and Money 1,336 WellCare Health Plans Inc 359,317 0.03 Market Instruments Admitted to an 128,053 Wells Fargo & Co 6,159,990 0.53 Official Stock Exchange Listing or 11,308 Welltower Inc (Reit) 881,911 0.08 Dealt in on Another Regulated Market 1,132,166,989 96.73 7,821 Western Digital Corp 374,313 0.03 12,149 Western Union Co/The 226,943 0.02 964 Westlake Chemical Corp 65,224 0.01 Other Transferable Securities and Money Market Instruments 8,028 WestRock Co 304,663 0.03 19,570 Weyerhaeuser Co (Reit) 520,366 0.04 COMMON STOCKS (SHARES) 1,682 Whirlpool Corp 222,949 0.02 34,439 Williams Cos Inc/The 984,439 0.08 Canada 4,429 Workday Inc ‘A’ 856,303 0.07 4,602 TELUS Corp 169,948 0.01 8,916 Worldpay Inc ‘A’ 1,001,980 0.09 169,948 0.01 4,131 WP Carey Inc (Reit) 323,292 0.03 2,831 WR Berkley Corp* 240,380 0.02 Total Common Stocks (Shares) 169,948 0.01 1,265 WW Grainger Inc 374,098 0.03 Total Other Transferable Securities 3,324 Wynn Resorts Ltd 398,415 0.03 and Money Market Instruments 169,948 0.01 15,527 Xcel Energy Inc 870,909 0.07 Securities portfolio at market value 1,132,336,937 96.74 6,634 Xerox Corp 212,819 0.02 6,915 Xilinx Inc* 881,801 0.08 Other Net Assets 38,113,370 3.26 2,974 XPO Logistics Inc 161,131 0.01 5,595 Xylem Inc/NY 440,215 0.04 Total Net Assets (USD) 1,170,450,307 100.00 8,510 Yum! Brands Inc* 848,617 0.07
* All or a portion of this security represents a security on loan.
The notes on pages 143 to 149 form an integral part of these financial statements.
Annual Report and Audited Accounts [141] iShares World Equity Index Fund (LU) continued
Futures contracts as at 31 March 2019
Gross Net unrealised underlying appreciation/ Number of Currency Contract/ Expiration exposure (depreciation) contracts of contract Description date USD USD 185 USD E-Mini S&P 500 Index June 2019 26,131,250 272,054 136 EUR EURO STOXX 50 Index June 2019 4,979,353 29,981 31 GBP FTSE 100 Index June 2019 2,901,263 38,744 10 CAD S&P/TSX 60 Index June 2019 1,432,849 2,021 12 AUD SPI 200 Index June 2019 1,312,202 939 16 CHF Swiss Market Index June 2019 1,489,037 13,559 25 JPY Topix Index June 2019 3,589,952 (4,431) Total 41,835,906 352,867
Sector Breakdown as at 31 March 2019
% of Net Assets
Consumer, Non-cyclical 22.02 Financial 19.30 Technology 11.62 Communications 11.32 Industrial 9.89 Consumer, Cyclical 9.40 Energy 5.88 Basic Materials 3.81 Utilities 3.31 Diversified 0.19 Securities portfolio at market value 96.74 Other Net Assets 3.26 100.00
The notes on pages 143 to 149 form an integral part of these financial statements.
[142] BlackRock Global Index Funds (BGIF) Notes to the Financial Statements
1. Organisation Where such securities or other assets are quoted or dealt BlackRock Global Index Funds (the “Company”) is a public in, on or by more than one stock exchange or regulated limited company (société anonyme) established under the laws market the Board of Directors of the Company may in its of the Grand Duchy of Luxembourg as an open-ended variable discretion select one of such stock exchanges or regulated capital investment company (société d’investissement à capital markets for such purposes. Discrepancies in the value of variable). The Company was established on 30 August 2012 and securities may result, for example, where the underlying was authorised by the Commission de Surveillance du Secteur markets are closed for business at the time of calculating Financier (the “CSSF”) as an UCITS pursuant to the provisions the NAV of certain Funds or where governments chose to of Part I of the law of 17 December 2010, as amended and is impose fiscal or transaction charges on foreign investment. regulated pursuant to such law (the “2010 Law”). As a result, the Board of Directors has implemented fair value techniques in order to estimate the fair value of The Company has appointed BlackRock (Luxembourg) S.A. these investments. Such securities and derivatives are as its Management Company. valued at their probable realisation value as determined by the competent persons (the Directors). Because of As at 31 March 2019, the Company offered shares in 10 Funds the inherent uncertainty in the fair value process, these (each a “Fund”, together the “Funds”). The Company is an estimated values may significantly differ from the values umbrella structure comprising separate Funds with segregated that would have been used had a ready market for the liability. Each Fund shall have segregated liability from the securities existed, and from the values that may be other Funds and the Company shall not be liable as a whole ultimately recovered; to third parties for the liabilities of each Fund. Each Fund shall be made up of a separate Portfolio of Investments maintained for non-quoted securities or securities not traded or dealt in and invested in accordance with the investment objectives on any stock exchange or other regulated market (including applicable to such Fund. Each Fund is a separate pool of securities of closed-ended investment funds), as well as assets and is represented by separate shares of each Fund quoted or non-quoted securities on such other markets which are divided into share classes as detailed in Appendix I. for which no valuation price is available, or securities for The classes of shares have equivalent rights in the Company which the quoted prices are, in the opinion of the Board but carry different features and charging structures which of Directors of the Company, not representative of the fair are more fully described in the Company’s Prospectus. market value, the value is determined prudently and in good faith by the Board of Directors of the Company on Share Classes Launched the basis of their expected disposal or acquisition price; Share Classes launched during the year are disclosed in Appendix I. if in any case a particular value is not ascertainable by the methods outlined above, or if the Board of Directors Significant Events During the Year of the Company consider that some other method of Effective 29 October 2018 Martha Boeckenfeld was appointed valuation more accurately reflects the fair value of the as Director of the Board of the Company. relevant security or other asset for the purpose concerned, the method of valuation of the security or asset will be 2. Summary of Significant Accounting Policies: such as the Board of Directors of the Company in their The financial statements have been prepared in accordance absolute discretion decide. Discrepancies in the value of with generally accepted accounting principles in Luxembourg securities may result, for example, where the underlying and with the legal and regulatory requirements relating to the markets are closed for business at the time of calculating preparation of the financial statements as prescribed by the the NAV of certain Funds. In such cases the Board of Luxembourg authorities for Luxembourg UCITS and include Directors of the Company may set specific thresholds, that, the following significant accounting policies: where exceeded, result in adjustment to the value of these securities to their fair value by applying a specific index (a) Valuation of Investments and Other Assets adjustment. Additionally, where governments choose to impose fiscal or transaction charges on foreign investment, The Company’s investments and other assets are valued the Board of Directors of the Company may adjust the NAV as follows: to reflect such charges.
transferable securities which are admitted to an official As at 31 March 2019, the adjusted fair value applied to certain exchange listing or dealt in on another regulated market, securities and/or derivatives is disclosed in the table below: are valued on the basis of the latest available price prevailing on the valuation date. For securities traded on Fund Currency Fair value % of Net markets closing after the time of the valuation, last known Assets prices as of this time or such other time may be used. iShares Emerging Markets Equity Index Fund (LU) USD 907 0.00
Annual Report and Audited Accounts [143] Notes to the Financial Statements continued
securities lending: securities are delivered to a third party when a bond has been identified as being in default, broker in accordance with lending agent instructions and the interest accrual on the defaulted security is stopped. continue to be valued as part of the portfolio of the Fund; On confirmation of default from relevant parties, the amount receivable is written off; liquid assets such as money market instruments may be valued at nominal values plus any accrued interest or at the interest rate of any perpetual bonds in the Portfolio of amortised cost basis which approximated their fair value; Investments disclosed under the description is the interest rate applicable at the year end and is for information only cash at bank, bills payable on demand and other debts are as these bonds are bearing variable interest rates. valued at their nominal amount, unless it appears unlikely that such nominal amount is obtainable; (d) Financial Derivative Instruments During the year, the Funds have entered into a number of cash collateral provided by the Company is identified on forward foreign exchange transactions and futures contracts. the Statement of Net Assets as pledged cash collateral Open forward foreign exchange transactions and futures and is not included as a component of cash and cash contracts are valued at the fair market value to close the equivalents. Cash collateral provided to the Company by contracts on the valuation date. Surpluses/deficits arising counterparties is identified on the Statement of Net Assets from these and unsettled contracts are taken to net unrealised as cash collateral payable. The Company may reinvest appreciation/(depreciation) and are included under assets this cash collateral and the assets purchased are included or liabilities (as appropriate) in the Statement of Net Assets. in the securities portfolio at market value in the Statement The net change in unrealised appreciation or depreciation of Net Assets; and the net realised gains or losses on settlement or closing transactions of forward foreign exchange transactions and assets which include, in particular, interest and dividends futures contracts are presented in the Statement of Operations receivable, receivable for investments sold and receivable and Changes in Net Assets. for Fund shares subscribed, are valued at nominal value unless it appears unlikely that such nominal amount (e) Foreign Exchange is obtainable; The cost of investments in currencies other than the currency liabilities which include, in particular, expenses payable, of denomination of the respective Fund has been translated income distribution payable, payable for investments at the rates of exchange ruling at the time of purchase. purchased and payable for Fund shares redeemed, Investments and other assets and liabilities in currencies other are valued at their nominal value. than the currency of denomination of the respective Fund have been translated at the exchange rate prevailing at the Fund’s (b) Net realised gains and losses on Investments recent valuation point in Luxembourg on 31 March 2019. The net change in unrealised appreciation or depreciation Net realised gains and losses on sales of investments have and the net realised gains or losses on disposal or settlement been determined on the basis of the average cost method. of other assets or liabilities in currencies other than the currency (c) Income/Expense from Investments of denomination of the respective Fund are presented in the Statement of Operations and Changes in Net Assets. The Company takes credit for income from its investments on the following basis: Income and expenses in currencies other than the currency of denomination of the respective Fund have been translated interest income is accrued daily and includes the at the rates of exchange prevailing on the transaction date. amortisation on a straight line basis of premiums and accretion of discounts; The following exchange rates were used to translate the investments and other assets and other liabilities denominated in currencies other than the base currency of the Fund at the bank interest income/expense is recognised last valuation point on 31 March 2019: on an accrual basis;
dividend income is accrued on the ex-dividend date and All Funds is shown net of withholding taxes;
securities lending income is accrued on a weekly basis; CCY EUR USD AED 0.2425 0.2723 negative yield expense on financial assets relating to AUD 0.6313 0.7088 interest from a negative effective interest rate on assets BRL 0.2286 0.2566 held is accreted daily and is recognised in the Statement CAD 0.6668 0.7486 of Operations and Changes in Net Assets over the life CHF 0.8946 1.0044 of the underlying instrument; CLP 0.0013 0.0015
[144] BlackRock Global Index Funds (BGIF) Notes to the Financial Statements continued
The combined figures in the Statement of Operations and All Funds Changes in Net Assets have been calculated using the average exchange rates throughout the year. The resulting Foreign exchange adjustment of USD (161,505,274) represents CCY EUR USD the movement in exchange rates between 31 March 2018 CNY 0.1325 0.1488 and 31 March 2019. This is a notional amount, which has COP 0.0003 0.0003 no impact on the Net Assets of the individual Funds. CZK 0.0387 0.0435 DKK 0.1340 0.1504 (g) Income Equalisation EGP 0.0514 0.0577 EUR 1.0000 1.1228 The Company operates Income Equalisation arrangements with a view to ensure that the level of net income accrued GBP 1.1577 1.2998 within a Fund and attributable to each share is not affected by HKD 0.1135 0.1274 the issue, conversion or redemption of Fund shares during an HUF 0.0031 0.0035 accounting year. IDR 0.0001 0.0001 ILS 0.2454 0.2755 The Income Equalisation is included in the Movements in INR 0.0129 0.0144 share capital in the Statement of Operations and Changes JPY 0.0080 0.0090 in Net Assets. KRW 0.0008 0.0009 MXN 0.0461 0.0518 (h) Dilution MYR 0.2182 0.2449 If on any dealing day the aggregate transactions in shares NOK 0.1033 0.1160 of all classes of a Fund result in a net increase or decrease NZD 0.6066 0.6811 of shares which exceeds a threshold set by the Board of PHP 0.0170 0.0190 Directors of the Company, the NAV of the relevant Fund PKR 0.0063 0.0071 may be adjusted by an amount which reflects the dealing PLN 0.2324 0.2610 costs to be incurred by the Fund and the estimated bid/offer QAR 0.2446 0.2747 spread of the assets in which the Fund invests. In addition, RUB 0.0136 0.0153 the Board of Directors of the Company may agree to include SEK 0.0961 0.1079 anticipated fiscal charges in the amount of the adjustment. SGD 0.6574 0.7381 As at 31 March 2019, no dilution adjustment was applied. THB 0.0281 0.0315 TRY 0.1580 0.1774 The published/dealing NAV per share is disclosed in the Three TWD 0.0289 0.0324 Year Summary of Net Asset Values and may include a dilution USD 0.8907 1.0000 adjustment. This adjustment is not recognised in the Statement ZAR 0.0615 0.0691 of Net Assets or the Statement of Operations and Changes in Net Assets. (f) Combined Financial Statements (i) Transaction costs The financial statements of each Fund are expressed in its base currency. Transaction costs are incremental costs that are directly attributable to the acquisition, issue or disposal of securities The combined figures of the Company are expressed in and derivatives. An incremental cost is one that would not have USD and include the total of the financial statements of the been incurred if the entity had not acquired, issued or disposed different Funds, translated if necessary. For the translation of the security. When a security is recognised initially, it is of the Statement of Net Assets, the following exchange measured at its market value, plus transaction costs that are rate prevailing at the Fund’s valuation point in Luxembourg directly attributable to the acquisition or issue of the security. as at 31 March 2019 for all Funds expressed in Euros, has been applied: Transaction costs excluding depositary transaction fees on purchases or sales of securities are included within net EUR realised gain/(loss) or net change in unrealised appreciation/ USD 0.8907 (depreciation) within the Statement of Operations and Changes in Net Assets of each Fund. Depositary transaction fees are For the translation of the Statement of Operations and included within depositary fees in the Statement of Operations Changes in Net Assets, the following exchange rate is the and Changes in Net Assets of each Fund. Refer to Note 6 average rate calculated over the year for all Funds expressed for further information. in Euros: (j) Foreign currencies on other transactions EUR USD 0.8639 Foreign currencies on other transactions relate to realised and unrealised appreciation or depreciation on cash balances and spot contracts.
Annual Report and Audited Accounts [145] Notes to the Financial Statements continued
3. Management Company remains competitive when compared across a broad market of BlackRock (Luxembourg) S.A. has been appointed similar investment products available to investors in the Funds, by the Company to act as its Management Company. taking into account a number of criteria such as the market The Management Company is authorised to act as sector of each Fund and the Fund’s performance relative a fund management company in accordance with to its peer group. Chapter 15 of the 2010 Law. The administration fee is used by the Management Company The Company has signed a management company to meet all fixed and variable operating and administrative agreement with the Management Company. Under this costs and expenses incurred by the Company, with the agreement, the Management Company is entrusted with the exception of the depositary fees, plus any taxes thereon day-to-day management of the Company, with responsibility and any taxes at an investment or Company level. for performing directly or by way of delegation all operational functions relating to the Company’s investment management, These operating and administrative expenses include all third administration, and marketing of the Funds. party expenses and other recoverable costs incurred by or on behalf of the Company from time to time, including but not In agreement with the Company, the Management Company limited to, fund accounting fees, transfer agency fees (including has decided to delegate several of its functions as is further sub-transfer agency and associated platform dealing charges), described in the Prospectus. all professional costs, such as consultancy, legal, tax advisory and audit fees, Board of Directors’ fees (for those Board of BlackRock (Luxembourg) S.A. is a wholly owned subsidiary Directors who are not employees of the BlackRock Group), within the BlackRock Group. It is regulated by the CSSF. travel expenses, reasonable out-of-pocket expenses, printing, publication, translation and all other costs relating to shareholder 4. Management Fees reporting, regulatory filing and licence fees, correspondent and During the year, the Company paid management fees other banking charges, software support and maintenance, to the Management Company. operational costs and expenses attributed to the local Investor The Company pays management fees at an annual Servicing teams and other global administration services rate as shown in Appendix E of the Prospectus. The level provided by various BlackRock Group companies. of management fee varies from 0.05% to 0.50% per annum The Management Company bears the financial risk of ensuring of the NAV, with the exception of Class X shares, which do that the Fund’s total expense ratio remains competitive. not pay management fees. The level of management fee Accordingly the Management Company is entitled to retain varies according to which Fund and share class the investor any amount of the administration fee paid to it which is in buys. These fees accrue daily, are based on the NAV of the excess of the actual expenses incurred by the Company relevant Fund and are paid monthly. during any year whereas any costs and expenses incurred The management fees attributable to each share class of each by the Company in any year which exceed the amount of Fund are disclosed in detail in Appendix E of the Prospectus administration fee that is paid to the Management Company, and KIID of the Company. Management fees payable at shall be borne by the Management Company or another 31 March 2019 are included in the Statement of Net Assets BlackRock Group company. under the caption “Accrued expenses and other liabilities”. Administration fees payable at 31 March 2019 are included in the Statement of Net Assets under the caption “Accrued 5. Administration Fees expenses and other liabilities”. The Company pays an administration fee to the Management Company. Directors of the Company who are not employees of the BlackRock Group receive a fee of EUR 30,000 per annum The level of administration fee may vary at the Board of gross of taxation in return for their duties performed during Directors of the Company’s discretion, as agreed with the the year ended 31 March 2019. The Chairman receives a fee Management Company, and will apply at different rates of EUR 33,500 per annum gross of taxation. Directors who are across the various Funds and Share Classes issued by the employees of the BlackRock Group are not entitled to receive Company. However, it has been agreed between the Board a Directors fee. of Directors of the Company and the Management Company that the administration fee currently paid shall not exceed Detailed below are the fees paid to Deloitte Audit for the year 0.15% per annum. It is accrued daily, based on the NAV of the ended 31 March 2019. relevant share class and paid monthly. 31 March 2019 The Board of Directors of the Company and the Management EUR Company set the level of the administration fee at a rate Audit and audit related services (excluding VAT) 52,500 which aims to ensure that the total expense ratio of each Fund Non-audit services –
[146] BlackRock Global Index Funds (BGIF) Notes to the Financial Statements continued
6. Depositary Fees Withholding tax The Depositary receives a fee in respect of each Fund. These Dividends and interest received by the Company on its fees are to remunerate the Depositary for safekeeping and investments may be subject to withholding taxes in the transaction costs applicable to each Fund. These fees will countries of origin which are generally irrecoverable as the vary in respect of each Fund depending on the value of assets Company itself is exempt from income tax. Recent European under management and the volume of trading in that Fund. Union case law may, however, reduce the amount of such irrecoverable tax. Investors should inform themselves of, and The Depositary receives annual fees, based on the value when appropriate consult their professional advisers on, the of securities, which accrue daily, plus transaction fees. The possible tax consequences of subscribing for, buying, holding, annual depositary safekeeping fees range from 0.005% redeeming, converting or selling shares under the laws of their to 0.40% of the NAV per annum and the transaction fees country of citizenship, residence or domicile. Investors should range from USD 5 to USD 75 per transaction. The rates note that the levels and bases of, and reliefs from, taxation for both categories of fees will vary according to the country can change. The potential of withholding tax charges is further of investment and, in some cases, according to asset class. described in the Prospectus. Investments in bonds and developed equity markets will be at the lower end of these ranges, while some investments 8. Investment Advisers in emerging or developing markets will be at the upper end. The Management Company, BlackRock (Luxembourg) Thus the depositary fee to each Fund will depend on its asset S.A., has delegated some management and provision of allocation at any time. investment advice to the Investment Advisers: BlackRock Investment Management (UK) Limited (“BIM UK”) and Depositary fees payable at 31 March 2019 are included in the BlackRock Institutional Trust Company N.A., as described Statement of Net Assets under the caption “Accrued expenses in the Prospectus. The Investment Advisers provides and other liabilities”. advice and management in the areas of stock and sector selection and strategic allocation. Notwithstanding the 7. Taxes appointment of the Investment Advisers, the Management Luxembourg Company accepts full responsibility to the Company for all The Company is registered under Luxembourg law as investment transactions. an investment company. Accordingly, no Luxembourg income or capital gains tax is at present payable by the BlackRock Institutional Trust Company N.A. does not currently Company. The Funds are exempt from the subscription tax provide any investment advice on existing Funds. (taxe d’abonnement) because the sole objective of each Fund is to match / replicate the performance of its Benchmark 9. Transactions with Connected Persons Index and all share classes of the Company are listed on the The ultimate holding company of the Management Company, Euro MTF (since 25 August 2017). Therefore, in accordance the Principal Distributor and the Investment Advisers is with the 2010 Law, which provides an exemption from “taxe BlackRock, Inc., a company incorporated in Delaware, d’abonnement” to funds and classes structured in this manner, USA. PNC Financial Services Group Inc. (“PNC Group”) is it is expected that the share classes should be exempt from a substantial shareholder in BlackRock, Inc.. When arranging this annual subscription tax. transactions in securities for the Company, companies in the PNC Group may have provided securities, brokerage, United Kingdom foreign exchange, banking and other services or may have Reporting Funds acted as principal on their usual terms and may benefit The UK Reporting Funds regime applies to the Company. therefrom. Commission has been paid to brokers and agents Under this regime, investors in UK Reporting Funds are in accordance with the relevant market practice and the subject to tax on the share of the UK Reporting Funds income benefit of any bulk or other commission discounts or cash attributable to their holdings in the Fund, whether or not commission rebates provided by brokers or agents have distributed, but any gains on disposal of their holdings are been passed on to the Company. The services of PNC Group subject to capital gains tax. A list of the Funds which currently companies could have been used by the Investment Advisers have UK Reporting Fund status is available at: where it was considered appropriate to do so provided that https://www.gov.uk/government/publications/offshore-funds-list- their commissions and other terms of business are generally of-reporting-funds. comparable with those available from unassociated brokers and agents in the markets concerned, and that this is Other transaction taxes consistent with the above policy of obtaining best results. Other jurisdictions may impose taxes, Financial Transactions Taxes (“FTT”) or other transaction taxes on certain assets held During the year, there have been no significant transactions by the Funds (for example UK stamp duty, French FTT). which were outside the ordinary course of business or which were not on normal commercial terms. There were no transactions of the Company effected through BlackRock companies.
Annual Report and Audited Accounts [147] Notes to the Financial Statements continued
The securities lending agent appointed pursuant to the Income earned during the year by the Funds from securities securities lending agreement is BlackRock Advisors (UK) lending transactions is disclosed in the Funds’ Statement Limited which is a related party to the Company. BlackRock of Operations and Changes in Net Assets under caption Advisors (UK) Limited bears all operational costs directly “Securities lending”. Receivable from securities lending related to securities loan transactions. transactions at 31 March 2019 is included in the Statement of Net Assets under the caption “Other assets”. The Funds benefit from a borrower default indemnity provided by BlackRock, Inc.. The indemnity allows for full replacement 12. Transaction Costs of securities on loan. BlackRock, Inc. bears the cost of In order to achieve its investment objective, a Fund will indemnification against borrower default. incur transactions costs in relation to trading activity on its portfolio. Disclosed in the table below are separately 10. Dividends identifiable transaction costs incurred by each Fund for the Distributions will not be made to the shareholders of the year ended 31 March 2019. These include commission costs, Non-Distributing Classes. The investment income and other settlement fees and broker fees. profits will be accumulated and reinvested on behalf of these shareholders. Fund CCY Transaction Costs For the distributing share classes the policy is to distribute iShares Emerging Markets Equity Index Fund (LU) USD 128,050 substantially all the investment income for the year after iShares Emerging Markets Government Bond deduction of expenses. The Board of Directors of the Company Index Fund (LU) USD – may also determine if and to what extent dividends may iShares Europe Equity Index Fund (LU) EUR 152,062 include distribution, from both net realised and net unrealised iShares Euro Aggregate Bond Index Fund (LU) EUR – capital gains. Where distributing share classes pay dividends iShares Euro Government Bond Index Fund (LU) EUR – that include net realised capital gains or net unrealised capital iShares Global Government Bond Index Fund (LU) USD – gains, dividends may include initially subscribed capital. iShares Japan Equity Index Fund (LU) USD 61,605 iShares North America Equity Index Fund (LU) USD 21,539 The Board of Directors of the Company intend to declare iShares Pacific ex Japan Equity Index Fund (LU) USD 92,535 dividends on the distributing share classes out of the net iShares World Equity Index Fund (LU) USD 158,552 revenue of the relevant Fund (i.e. all interest, dividends and other income less the Fund’s accrued expenses) Not all transaction costs are separately identifiable. For fixed for that financial period. income investments, forward foreign exchange transactions and other derivative contracts, transaction costs are included Where a Fund has UK Reporting Fund status and reported in the purchase and sales price of the investment. While not income exceeds distributions made then the surplus shall separately identifiable these transaction costs are captured be treated as a deemed dividend and will be taxed as income, within the performance of each Fund. Market impact costs subject to the tax status of the investor. are not separately identifiable and are therefore also not disclosed in the above table. Dividends will normally be declared with a view to being paid semi-annually (March and September). 13. Amounts due from/to Brokers 11. Securities Lending Due from/to brokers on the Statement of Net Assets consists of Fund CCY Value of Value of margin paid/received from Fund’s clearing brokers and various securities non-cash counterparties. on loan collateral received 14. Total Expense Ratio iShares Emerging Markets Equity Index Total Expense Ratio (“TER”) is calculated as the total of all Fund (LU) USD 67,617,216 74,358,859 expenses (excluding bank interest, negative yield expense iShares Emerging Markets Government on financial assets, custody transaction fees and expense Bond Index Fund (LU) USD 377,063,354 404,975,646 reimbursements), divided by the average net assets of the iShares Europe Equity Index Fund (LU) EUR 37,460,328 42,720,666 Company, expressed as a percentage. All data is annualised. iShares Euro Aggregate Bond Index Fund (LU) EUR 40,273,663 44,530,576 The Management Fee may be used in part to pay iShares Euro Government Bond Index remuneration for distribution activities concerning the Fund (LU) EUR 29,940,606 32,022,239 Company. Reimbursement may be made to institutional iShares Global Government Bond Index investors which from a commercial perspective hold shares Fund (LU) USD 26,910,833 29,933,177 of the Company for third parties. iShares Japan Equity Index Fund (LU) USD 63,772,935 69,692,548 iShares North America Equity Index Fund (LU) USD 59,556,323 66,928,824 iShares Pacific ex Japan Equity Index Fund (LU) USD 56,281,600 62,204,271 iShares World Equity Index Fund (LU) USD 174,884,239 194,237,069
[148] BlackRock Global Index Funds (BGIF) Notes to the Financial Statements continued
The TERs for the year from 1 April 2018 to 31 March 2019 Fund Name Share classes TER are as follows: iShares Japan A Class non-distributing share 0.529% Equity Index D Class non-distributing share 0.236% Fund Name Share classes TER Fund (LU) D Class non-distributing share EUR 0.223% iShares Emerging A Class non-distributing share 0.641% F Class non-distributing share 0.226% Markets Equity D Class non-distributing share 0.346% N Class distributing share 0.186% Index Fund (LU) D Class non-distributing share EUR 0.336% N Class distributing share EUR 0.196% F Class non-distributing share 0.341% N Class non-distributing share 0.196% F Class non-distributing share EUR 0.340% X Class non-distributing share 0.046% N Class distributing share 0.293% X Class non-distributing share EUR 0.065% N Class distributing share EUR 0.311% iShares North A Class non-distributing share 0.522% N Class non-distributing share 0.313% America Equity D Class non-distributing share 0.220% X Class non-distributing share 0.106% Index Fund (LU) D Class non-distributing share EUR 0.238% X Class non-distributing share EUR 0.111% F Class non-distributing share 0.221% iShares Emerging A Class non-distributing share 0.525% N Class distributing share EUR 0.192% Markets A Class non-distributing share EUR hedged 0.525% N Class non-distributing share 0.191% Government Bond D Class non-distributing share 0.277% X Class non-distributing share 0.041% Index Fund (LU) D Class non-distributing share EUR 0.279% X Class non-distributing share EUR 0.041% F Class non-distributing share 0.268% iShares Pacific A Class non-distributing UK reporting fund share 0.538% I Class distributing share 0.244% ex Japan Equity D Class non-distributing share 0.227% I Class non-distributing share 0.244% Index Fund (LU) D Class non-distributing share EUR 0.223% I Class non-distributing share EUR hedged 0.245% F Class non-distributing UK reporting fund share 0.239% I Class non-distributing share GBP hedged 0.244% N Class distributing share 0.187% N Class distributing share EUR 0.244% N Class distributing share EUR 0.209% X Class non-distributing share 0.044% N Class non-distributing share 0.209% X Class non-distributing share EUR 0.044% X Class non-distributing share 0.059% X Class non-distributing share EUR hedged 0.044% X Class non-distributing share EUR 0.055% X Class non-distributing share SEK hedged 0.044% iShares World A Class non-distributing share 0.524% iShares Europe A Class non-distributing share 0.526% Equity Index D Class non-distributing share 0.222% Equity Index D Class non-distributing share 0.236% Fund (LU) D Class non-distributing share EUR 0.223% Fund (LU) D Class non-distributing share USD 0.232% F Class non-distributing share 0.224% F Class non-distributing share 0.233% F Class non-distributing share EUR 0.224% N Class distributing share 0.204% F Class non-distributing share GBP 0.225% N Class distributing share USD 0.190% N Class distributing share EUR 0.155% N Class non-distributing share 0.204% N Class non-distributing share EUR 0.154% X Class non-distributing share 0.054% X Class non-distributing share 0.044% X Class non-distributing share USD 0.053% X Class non-distributing share EUR 0.044% iShares Euro A Class non-distributing share 0.513% Aggregate Bond D Class non-distributing share 0.227% The TER is being calculated in accordance with Swiss Funds Index Fund (LU) N Class distributing share 0.099% & Asset Management Association (“SFAMA”) guidelines last X Class non-distributing share 0.049% amended on 22 April 2015. iShares Euro A Class non-distributing share 0.516% Government Bond D Class non-distributing share 0.224% 15. Subsequent Events Index Fund (LU) F Class non-distributing share 0.226% A new Prospectus was issued on 20 April 2019. N Class distributing share 0.196% N Class non-distributing share 0.196% X Class non-distributing share 0.046% iShares Global A Class non-distributing share 0.528% Government Bond D Class non-distributing share 0.234% Index Fund (LU) D Class non-distributing share EUR 0.227% F Class non-distributing share 0.227% N Class distributing share EUR 0.198% N Class non-distributing share 0.183% N Class non-distributing share EUR 0.197% X Class non-distributing share 0.047% X Class non-distributing share EUR 0.047%
Annual Report and Audited Accounts [149] Report of the Réviseur d’Entreprises Agréé
Deloitte Audit Société à responsabilité limitée 560, rue de Neudorf L-2220 Luxembourg B.P. 1173 L-1011 Luxembourg Tel: +352 451 451 Fax: +352 451 452 992 www.deloitte.lu
To the Shareholders of BlackRock Global Index Funds 49, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg
REPORT OF THE REVISEUR D’ENTREPRISES AGREE
Opinion We have audited the financial statements of BlackRock Global Index Funds (the “Company”) and of each of its sub-funds, which comprise the statement of net assets and the portfolio of investments as at 31 March 2019 and the statement of operations and changes in net assets for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Company and of each of its sub-funds as at 31 March 2019, and of the results of their operations and changes in their net assets for the year then ended in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements.
Basis for Opinion We conducted our audit in accordance with the Law of 23 July 2016 on the audit profession (Law of 23 July 2016) and with International Standards on Auditing (ISAs) as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF). Our responsibilities under the Law of 23 July 2016 and ISAs are further described in the “Responsibilities of the Réviseur d’Entreprises Agréé for the Audit of the Financial Statements” section of our report. We are also independent of the Company in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code) as adopted for Luxembourg by the CSSF together with the ethical requirements that are relevant to our audit of the financial statements, and have fulfilled our other ethical responsibilities under those ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other information The Board of Directors of the Company is responsible for the other information. The other information comprises the information stated in the annual report but does not include the financial statements and our report of the Réviseur d’Entreprises Agréé thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report this fact. We have nothing to report in this regard.
Responsibilities of the Board of Directors of the Company for the Financial Statements The Board of Directors of the Company is responsible for the preparation and fair presentation of the financial statements in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements, and for such internal control as the Board of Directors of the Company determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Board of Directors of the Company is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors of the Company either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
[150] BlackRock Global Index Funds (BGIF) Deloitte Audit Société à responsabilité limitée 560, rue de Neudorf L-2220 Luxembourg B.P. 1173 L-1011 Luxembourg Tel: +352 451 451 Fax: +352 451 452 992 www.deloitte.lu
Responsibilities of the Réviseur d’Entreprises Agréé for the Audit of the Financial Statements
The objectives of our audit are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a report of the Réviseur d’Entreprises Agréé that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Law dated 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with the Law dated 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control;
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors of the Company;
• Conclude on the appropriateness of the Board of Directors of the Company use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report of the Réviseur d’Entreprises Agréé to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our report of the Réviseur d’Entreprises Agréé. However, future events or conditions may cause the Company to cease to continue as a going concern;
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
For Deloitte Audit, Cabinet de Révision Agréé
Justin Griffiths, Réviseur d’Entreprises Agréé Partner
25 July 2019
Société à responsabilité limitée au capital de 35.000 EUR RCS Luxembourg B 67.895
Annual Report and Audited Accounts [151] Appendix I – Share Classes (Unaudited)
Appendix I – Share Classes (Unaudited)
Share Classes In Issue I Class1 As at 31 March 2019, the Company offers the following I Class distributing share USD share classes. I Class non-distributing share EUR hedged I Class non-distributing share GBP hedged A Class I Class non-distributing share USD A Class non-distributing share EUR N Class A Class non-distributing share EUR hedged N Class distributing share EUR A Class non-distributing share USD N Class distributing share USD A Class non-distributing UK reporting fund share USD N Class non-distributing share EUR D Class N Class non-distributing share USD D Class non-distributing share EUR X Class1 D Class non-distributing share USD X Class non-distributing share EUR X Class non-distributing share EUR hedged F Class X Class non-distributing share SEK hedged F Class non-distributing share EUR X Class non-distributing share USD F Class non-distributing share GBP
F Class non-distributing share USD 1 available to institutional investors. F Class non-distributing UK reporting fund share USD
Share Classes Launched The dates disclosed are the launch dates but the classes may have been seeded at a later date.
Effective date Fund Type 2 May 2018 iShares Emerging Markets Equity Index Fund (LU) D Class non-distributing share EUR 2 May 2018 iShares Emerging Markets Equity Index Fund (LU) D Class non-distributing share USD 2 May 2018 iShares Global Government Bond Index Fund (LU) D Class non-distributing share USD 2 May 2018 iShares North America Equity Index Fund (LU) D Class non-distributing share EUR 2 May 2018 iShares World Equity Index Fund (LU) D Class non-distributing share USD 9 May 2018 iShares Emerging Markets Government Bond Index Fund (LU) D Class non-distributing share EUR 9 May 2018 iShares Emerging Markets Government Bond Index Fund (LU) D Class non-distributing share USD 9 May 2018 iShares Euro Aggregate Bond Index Fund (LU) D Class non-distributing share EUR 9 May 2018 iShares Japan Equity Index Fund (LU) D Class non-distributing share EUR 9 May 2018 iShares Japan Equity Index Fund (LU) D Class non-distributing share USD 9 May 2018 iShares Pacific ex Japan Equity Index Fund (LU) D Class non-distributing share EUR 9 May 2018 iShares Pacific ex Japan Equity Index Fund (LU) D Class non-distributing share USD
Share Classes Closed Effective date Fund Type 16 May 2018 iShares North America Equity Index Fund (LU) N Class distributing share USD 16 May 2018 iShares World Equity Index Fund (LU) N Class non-distributing share USD
[152] BlackRock Global Index Funds (BGIF) Appendix II – Global Market Risk Exposure (Unaudited)
Appendix II – Global Market Risk Exposure (Unaudited)
The Management Company adopted the Commitment Approach as the global exposure methodology for all Funds.
The Commitment Approach is a methodology that aggregates the underlying market or notional values of financial derivative instruments to determine the degree of global exposure of a Fund to financial derivative instruments.
Pursuant to the 2010 Law, the global exposure for a Fund under the Commitment Approach must not exceed 100% of that Fund’s NAV. As at 31 March 2019 the global exposure of each Fund did not exceed 100% of its NAV.
Annual Report and Audited Accounts [153] Supplementary Information (Unaudited)
Supplementary Information (Unaudited)
Efficient Portfolio Management Techniques The Company may, on behalf of each Fund and subject to the conditions and within the limits laid down by the CSSF and the Prospectus, employ techniques and instruments relating to transferable securities provided that such techniques and instruments are used for efficient portfolio management purposes or to provide protection against exchange risk or for direct investment purposes, where applicable.
Securities Lending All securities lending transactions entered into by the Funds are subject to a written legal agreement between the Funds and the Securities Lending Agent, BlackRock Advisors (UK) Limited, a related party to the Company, and separately between the Securities Lending Agent and the approved borrowing counterparty. Collateral received in exchange for securities lent is transferred under a title transfer arrangement and is delivered to and held in an account with a tri-party collateral manager in the name of the Depositary, State Street Bank Luxembourg S.C.A. on behalf of the Funds. Collateral received is segregated from the assets belonging to the Funds’ Depositary or the Securities Lending Agent.
The following table details the value of securities on loan as a proportion of the Funds’ total lendable assets and NAV. Total lendable assets represents the aggregate value of assets forming part of the Funds’ securities lending programme.
Securities on loan % of Fund Currency lendable assets % of NAV iShares Emerging Markets Equity Index Fund (LU) USD 20.07% 13.37% iShares Emerging Markets Government Bond Index Fund (LU) USD 18.41% 16.66% iShares Europe Equity Index Fund (LU) EUR 11.57% 10.92% iShares Euro Aggregate Bond Index Fund (LU) EUR 6.01% 5.66% iShares Euro Government Bond Index Fund (LU) EUR 6.18% 5.81% iShares Global Government Bond Index Fund (LU) USD 5.65% 5.22% iShares Japan Equity Index Fund (LU) USD 42.59% 38.32% iShares North America Equity Index Fund (LU) USD 9.82% 9.19% iShares Pacific ex Japan Equity Index Fund (LU) USD 17.47% 16.34% iShares World Equity Index Fund (LU) USD 16.23% 14.94%
The total income earned from securities lending transactions is split between the relevant Fund and the Securities Lending Agent. The Funds receive at least 62.5% while the Securities Lending Agent receives up to 37.5% of such income with all operational costs borne out of the Securities Lending Agent’s share.
Income earned during the year by the Funds from securities lending transactions is disclosed in the Funds’ Statement of Operations and Changes in Net Assets under caption “Securities lending”.
The following tables detail the value of securities on loan (individually identified in the relevant Funds’ Portfolio of Investments) and associated collateral received analysed by counterparty as at 31 March 2019.
Securities Lending Counterparty’s country of Amount Collateral Counterparty establishment on loan received
iShares Emerging Markets Equity Index Fund (LU) (in USD) Barclays Capital Securities Ltd United Kingdom 3,503,721 3,717,368 Citigroup Global Markets Ltd United Kingdom 1,322,291 1,418,088 Credit Suisse AG - Dublin Branch Ireland 2,165,562 2,320,231 Goldman Sachs International United States 8,194,020 9,073,547 HSBC Bank Plc United Kingdom 22,650,860 24,449,802 Macquarie Bank Ltd Australia 2,145,918 2,382,475 Merrill Lynch International United States 7,349,862 8,713,419 Morgan Stanley Group Inc United States 2,363,120 2,511,794 Nomura International Plc United Kingdom 165,452 193,794 Societe Generale SA France 712,515 782,799 The Bank of Nova Scotia Canada 3,145,970 3,468,739 UBS AG Switzerland 13,897,925 15,326,803 Total 67,617,216 74,358,859
[154] BlackRock Global Index Funds (BGIF) Supplementary Information (Unaudited) continued
Securities Lending Counterparty’s country of Amount Collateral Counterparty establishment on loan received
iShares Emerging Markets Government Bond Index Fund (LU) (in USD) Barclays Bank Plc United Kingdom 53,204,490 57,814,161 BNP Paribas SA France 39,494,635 41,968,981 Citigroup Global Markets Ltd United Kingdom 59,526,200 61,630,441 Credit Suisse Securities Ltd United Kingdom 6,137,258 6,488,847 Deutsche Bank AG Germany 50,332,027 52,318,022 Goldman Sachs International United States 7,166,703 8,719,517 HSBC Bank Plc United Kingdom 3,358,752 3,720,745 JP Morgan Securities Plc United Kingdom 35,464,697 39,720,008 Morgan Stanley Group Inc United States 62,332,078 66,485,568 Nomura International Plc United Kingdom 55,542,861 60,427,387 UBS AG Switzerland 4,503,653 5,681,969 Total 377,063,354 404,975,646 iShares Europe Equity Index Fund (LU) (in EUR) Barclays Capital Securities Ltd United Kingdom 2,286,886 2,426,334 BNP Paribas Arbitrage SNC France 13,884,245 15,842,813 Citigroup Global Markets Ltd United Kingdom 922,664 989,507 Credit Suisse International Switzerland 1,320,085 2,309,685 Credit Suisse Securities Ltd United Kingdom 275,586 364,687 Goldman Sachs International United States 4,797,323 5,312,256 HSBC Bank Plc United Kingdom 2,522,282 2,722,602 JP Morgan Securities Plc United Kingdom 4,081,143 4,650,308 Macquarie Bank Ltd Australia 148,876 165,287 Merrill Lynch International United States 475,717 563,971 Morgan Stanley Group Inc United States 3,414,901 3,629,745 Skandinaviska Enskilda Banken AB United Kingdom 503,862 626,219 The Bank of Nova Scotia Canada 614,654 677,716 UBS AG Switzerland 2,212,104 2,439,536 Total 37,460,328 42,720,666 iShares Euro Aggregate Bond Index Fund (LU) (in EUR) Barclays Bank Plc United Kingdom 294,644 318,335 BNP Paribas Arbitrage SNC France 774,850 844,270 BNP Paribas SA France 939,218 1,025,344 Citigroup Global Markets Ltd United Kingdom 1,754,078 1,861,286 Deutsche Bank AG Germany 114,383 118,897 Goldman Sachs International United States 327,069 399,934 JP Morgan Securities Plc United Kingdom 9,248,727 9,606,726 Morgan Stanley Group Inc United States 187,059 193,805 Nomura International Plc United Kingdom 318,386 358,075 Societe Generale SA France 22,013,876 24,895,305 The Bank of Nova Scotia Canada 2,326,191 2,628,070 UBS AG Switzerland 1,975,182 2,280,529 Total 40,273,663 44,530,576 iShares Euro Government Bond Index Fund (LU) (in EUR) BNP Paribas Arbitrage SNC France 2,036,398 2,218,841 Morgan Stanley Group Inc United States 3,894,083 4,034,508 Societe Generale SA France 23,618,762 25,326,738 The Bank of Nova Scotia Canada 391,363 442,152 Total 29,940,606 32,022,239
Annual Report and Audited Accounts [155] Supplementary Information (Unaudited) continued
Securities Lending Counterparty’s country of Amount Collateral Counterparty establishment on loan received
iShares Global Government Bond Index Fund (LU) (in USD) Barclays Bank Plc United Kingdom 836,694 903,976 Barclays Capital Securities Ltd United Kingdom 14,522,455 16,075,731 BNP Paribas Arbitrage SNC France 1,696,502 1,840,262 Citigroup Global Markets Ltd United Kingdom 228,760 270,386 Morgan Stanley Group Inc United States 1,628,441 1,691,762 NatWest Markets Plc United Kingdom 125,113 135,489 Societe Generale SA France 6,953,831 7,720,568 The Bank of Nova Scotia Canada 919,037 1,295,003 Total 26,910,833 29,933,177 iShares Japan Equity Index Fund (LU) (in USD) Barclays Capital Securities Ltd United Kingdom 10,791,921 11,449,982 Citigroup Global Markets Ltd United Kingdom 15,210,424 16,312,364 Goldman Sachs International United States 9,728,461 10,772,689 HSBC Bank Plc United Kingdom 1,816,709 1,960,993 Macquarie Bank Ltd Australia 16,039,115 17,807,190 Merrill Lynch International United States 1,989,802 2,358,949 Societe Generale SA France 2,115,764 2,324,469 UBS AG Switzerland 6,080,739 6,705,912 Total 63,772,935 69,692,548 iShares North America Equity Index Fund (LU) (in USD) Barclays Capital Securities Ltd United Kingdom 699,715 742,382 BNP Paribas Arbitrage SNC France 634,118 723,570 Goldman Sachs International United States 1,520,617 1,683,836 HSBC Bank Plc United Kingdom 21,611,385 23,380,778 Merrill Lynch International United States 8,907,392 10,559,885 Societe Generale SA France 296,185 1,291,520 The Bank of Nova Scotia Canada 7,203,245 7,942,280 UBS AG Switzerland 18,683,666 20,604,573 Total 59,556,323 66,928,824 iShares Pacific ex Japan Equity Index Fund (LU) (in USD) Barclays Capital Securities Ltd United Kingdom 13,005,631 13,798,676 Citigroup Global Markets Ltd United Kingdom 6,901,513 7,401,503 Goldman Sachs International United States 3,155,921 3,494,670 HSBC Bank Plc United Kingdom 1,434,369 1,548,288 Macquarie Bank Ltd Australia 4,715,158 5,234,935 Merrill Lynch International United States 12,068,621 14,307,584 Morgan Stanley Group Inc United States 4,944,622 5,255,707 Nomura International Plc United Kingdom 1,414,825 1,657,178 Societe Generale SA France 5,661,439 6,219,900 UBS AG Switzerland 2,979,501 3,285,830 Total 56,281,600 62,204,271
[156] BlackRock Global Index Funds (BGIF) Supplementary Information (Unaudited) continued
Securities Lending Counterparty’s country of Amount Collateral Counterparty establishment on loan received
iShares World Equity Index Fund (LU) (in USD) Barclays Capital Securities Ltd United Kingdom 15,095,089 16,015,544 BNP Paribas Arbitrage SNC France 11,219,595 12,802,276 Citigroup Global Markets Ltd United Kingdom 32,289,741 34,629,017 Goldman Sachs International United States 12,788,763 14,161,476 HSBC Bank Plc United Kingdom 17,353,414 18,731,630 JP Morgan Securities Plc United Kingdom 12,734,582 14,510,574 Macquarie Bank Ltd Australia 12,348,973 13,710,264 Merrill Lynch International United States 17,283,067 20,489,409 Morgan Stanley Group Inc United States 3,558,876 3,782,778 Nomura International Plc United Kingdom 5,104 5,979 Societe Generale SA France 6,915,069 8,684,074 The Bank of Nova Scotia Canada 3,419,948 3,770,826 UBS AG Switzerland 29,872,018 32,943,222 Total 174,884,239 194,237,069
All securities on loan have an open maturity tenor as they are Non-cash recallable or terminable on a daily basis. collateral Currency received Collateral The Funds engage in activities which may require collateral to iShares Emerging Markets Government Bond Index Fund (LU) (in USD) be provided to a counterparty (“collateral posted”) or may hold Securities lending transactions collateral received (“collateral received”) from a counterparty. CAD 1,729,672 CHF 468,683 The following table provides an analysis by currency of the DKK 11,813,301 underlying non-cash collateral received by way of title transfer collateral arrangement by the Funds, in respect of securities EUR 285,905,000 lending transactions, as at 31 March 2019. GBP 43,162,430 JPY 4,428,612 Non-cash MXN 337,944 collateral NOK 635,017 Currency received SEK 9,411 USD 56,485,576 iShares Emerging Markets Equity Index Fund (LU) (in USD) Total 404,975,646 Securities lending transactions iShares Europe Equity Index Fund (LU) (in EUR) CAD 986,869 Securities lending transactions CHF 817,458 CAD 260,124 EUR 17,667,977 CHF 1,683,200 GBP 17,934,780 EUR 17,144,645 JPY 4,313,940 GBP 5,570,373 MXN 2,906,859 JPY 6,620,280 USD 29,730,976 MXN 305,507 Total 74,358,859 SEK 1,440,242 USD 9,696,295 Total 42,720,666
Annual Report and Audited Accounts [157] Supplementary Information (Unaudited) continued
Non-cash Non-cash collateral collateral Currency received Currency received
iShares Euro Aggregate Bond Index Fund (LU) (in EUR) iShares North America Equity Index Fund (LU) (in USD) Securities lending transactions Securities lending transactions AUD 234,079 CAD 1,952,840 CAD 602,166 CHF 1,170,963 CHF 221,108 EUR 13,083,276 DKK 299,363 GBP 19,326,021 EUR 29,262,182 JPY 1,273,270 GBP 8,729,145 MXN 2,365,527 JPY 817,327 SEK 65,778 MXN 170,543 USD 27,691,149 NOK 333,733 Total 66,928,824 SEK 541,996 iShares Pacific ex Japan Equity Index Fund (LU) (in USD) USD 3,318,934 Securities lending transactions Total 44,530,576 CAD 699,286 iShares Euro Government Bond Index Fund (LU) (in EUR) CHF 520,866 Securities lending transactions EUR 26,845,113 AUD 39,382 GBP 10,813,606 CAD 101,310 JPY 3,422,251 EUR 21,371,223 MXN 1,108,447 GBP 8,678,083 USD 18,794,702 JPY 563,836 Total 62,204,271 SEK 603,967 iShares World Equity Index Fund (LU) (in USD) USD 664,438 Securities lending transactions Total 32,022,239 CAD 4,198,878 iShares Global Government Bond Index Fund (LU) (in USD) CHF 4,045,893 Securities lending transactions EUR 71,833,493 AUD 100,283 GBP 35,460,382 CAD 3,077,314 JPY 15,192,095 CHF 2,002,122 MXN 4,387,914 DKK 51,370 SEK 1,163,832 EUR 15,156,517 USD 57,954,582 GBP 4,498,740 Total 194,237,069 JPY 1,100,081 MXN 240,918 Non-cash collateral received by way of title transfer collateral SEK 164,734 arrangement in relation to securities lending transactions, USD 3,541,098 cannot be sold, re-invested or pledged. Total 29,933,177 iShares Japan Equity Index Fund (LU) (in USD) Securities lending transactions CAD 1,541,174 CHF 470,845 EUR 23,872,215 GBP 9,743,411 JPY 5,494,116 MXN 3,436,055 USD 25,134,732 Total 69,692,548
[158] BlackRock Global Index Funds (BGIF) Supplementary Information (Unaudited) continued
The following table provides an analysis of the type, quality and maturity tenor of non-cash collateral received by the Funds by way of title transfer collateral arrangement in respect of securities lending transactions, as at 31 March 2019.
Maturity Tenor 2 – 7 8 – 30 31 – 90 91 – 365 More than Collateral type and quality days days days days 365 days Open Total
iShares Emerging Markets Equity Index Fund (LU) (in USD) Collateral received – securities lending Fixed Income Investment grade – 20,437 – 4,334,927 19,379,895 – 23,735,259 Equities Recognised equity index – – – – – 50,623,600 50,623,600 Total – 20,437 – 4,334,927 19,379,895 50,623,601 74,358,859 iShares Emerging Markets Government Bond Index Fund (LU) (in USD) Collateral received – securities lending Fixed Income Investment grade – 7,974,493 9,789,932 18,761,181 332,576,050 – 369,101,656 Equities Recognised equity index – – – – – 35,873,990 35,873,990 Total – 7,974,493 9,789,932 18,761,181 332,576,050 35,873,990 404,975,646 iShares Europe Equity Index Fund (LU) (in EUR) Collateral received – securities lending Fixed Income Investment grade – 3,252 109,176 486,174 9,042,254 – 9,640,856 Equities Recognised equity index – – – – – 33,079,810 33,079,810 Total – 3,252 109,176 486,174 9,042,254 33,079,810 42,720,666 iShares Euro Aggregate Bond Index Fund (LU) (in EUR) Collateral received – securities lending Fixed Income Investment grade – 2,246 229,451 365,575 23,160,576 – 23,757,848 Equities Recognised equity index – – – – – 20,772,728 20,772,728 Total – 2,246 229,451 365,575 23,160,576 20,772,728 44,530,576 iShares Euro Government Bond Index Fund (LU) (in EUR) Collateral received – securities lending Fixed Income Investment grade – – – – 13,478,521 – 13,478,521 Equities Recognised equity index – – – – – 18,543,718 18,543,718 Total – – – – 13,478,521 18,543,718 32,022,239 iShares Global Government Bond Index Fund (LU) (in USD) Collateral received – securities lending Fixed Income Investment grade – 48 – 61,031 4,569,890 – 4,630,969 Equities Recognised equity index – – – – – 25,302,208 25,302,208 Total – 48 – 61,031 4,569,890 25,302,208 29,933,177 iShares Japan Equity Index Fund (LU) (in USD) Collateral received – securities lending Fixed Income Investment grade – 8,941 – 344,378 30,754,944 – 31,108,263 Equities Recognised equity index – – – – – 38,584,285 38,584,285 Total – 8,941 – 344,378 30,754,944 38,584,285 69,692,548
Annual Report and Audited Accounts [159] Supplementary Information (Unaudited) continued
Maturity Tenor 2 – 7 8 – 30 31 – 90 91 – 365 More than Collateral type and quality days days days days 365 days Open Total
iShares North America Equity Index Fund (LU) (in USD) Collateral received – securitieslending Fixed Income Investment grade – 27,477 – 4,200,301 12,343,706 – 16,571,484 Equities Recognised equity index – – – – – 50,357,340 50,357,340 Total – 27,477 – 4,200,301 12,343,706 50,357,340 66,928,824 iShares Pacific ex Japan Equity Index Fund (LU) (in USD) Collateral received – securities lending Fixed Income Investment grade – 4,381 – 271,901 32,281,750 – 32,558,032 Equities Recognised equity index – – – – – 29,646,239 29,646,239 Total – 4,381 – 271,901 32,281,750 29,646,239 62,204,271 iShares World Equity Index Fund (LU) (in USD) Collateral received – securities lending Fixed Income Investment grade – 43,930 – 3,334,314 71,336,775 – 74,715,020 Equities Recognised equity index – – – – – 119,522,049 119,522,049 Total – 43,930 – 3,334,314 71,336,775 119,522,049 194,237,069
Investment grade securities are those issued by an entity with a minimum investment grade credit rating from at least one globally recognised credit rating agency: Standard & Poor’s, Moody’s or Fitch.
A recognised equity index contains at least 20 equities where no single equity represents more than 20% of the total index and no five equities combined represent more than 60% of the total index.
The maturity tenor analysis for fixed income securities received as collateral is based on the respective contractual maturity date, while for equity securities, ETFs and money market funds received as collateral are presented as open transactions as they are not subject to a contractual maturity date.
The following table provides an analysis of the amounts Non-cash of non-cash collateral received by the Funds in respect collateral received of securities lending transactions and held by the Funds’ Securities Depositary (or through its delegates) or through a securities Depositary lending settlement system, as at 31 March 2019. iShares Euro Government Bond Index Fund (LU) (in EUR) Non-cash State Street Bank Luxembourg S.C.A. (or its delegates) 32,022,239 collateral received iShares Global Government Bond Index Fund (LU) (in USD) Securities State Street Bank Luxembourg S.C.A. (or its delegates) 28,623,325 Depositary lending Euroclear SA/NV 1,309,852 Total 29,933,177 iShares Emerging Markets Equity Index Fund (LU) (in USD) iShares Japan Equity Index Fund (LU) (in USD) State Street Bank Luxembourg S.C.A. (or its delegates) 74,358,859 State Street Bank Luxembourg S.C.A. (or its delegates) 69,692,548 iShares Emerging Markets Government Bond Index Fund (LU) (in USD) iShares North America Equity Index Fund (LU) (in USD) State Street Bank Luxembourg S.C.A. (or its delegates) 106,991,965 State Street Bank Luxembourg S.C.A. (or its delegates) 66,928,824 Euroclear SA/NV 297,983,681 iShares Pacific ex Japan Equity Index Fund (LU) (in USD) Total 404,975,646 State Street Bank Luxembourg S.C.A. (or its delegates) 62,204,271 iShares Europe Equity Index Fund (LU) (in EUR) iShares World Equity Index Fund (LU) (in USD) State Street Bank Luxembourg S.C.A. (or its delegates) 42,720,666 State Street Bank Luxembourg S.C.A. (or its delegates) 194,237,069 iShares Euro Aggregate Bond Index Fund (LU) (in EUR) State Street Bank Luxembourg S.C.A. (or its delegates) 29,074,633 Euroclear SA/NV 15,455,943 Total 44,530,576
[160] BlackRock Global Index Funds (BGIF) Supplementary Information (Unaudited) continued
The following table lists the ten largest issuers by value % of the of non-cash collateral received by the Funds by way of title Issuers Value Fund’s NAV transfer collateral arrangement across securities lending transactions as at 31 March 2019. iShares Euro Government Bond Index Fund (LU) (in EUR) French Republic Government Bond OAT 5,622,923 1.09% % of the Republic of Austria Government Bond 3,139,035 0.61% Issuers Value Fund’s NAV Bayerische Motoren Werke AG 2,357,275 0.46% A2A SpA 2,251,008 0.44% iShares Emerging Markets Equity Index Fund (LU) (in USD) Innogy SE 2,182,805 0.42% French Republic Government Bond OAT 7,234,554 1.43% Republic of Germany 2,080,645 0.40% United Kingdom Gilt 7,004,183 1.39% Meggitt Plc 1,450,955 0.28% Vodafone Group Plc 4,009,822 0.79% Victrex Plc 1,323,422 0.26% Republic of Germany 3,815,139 0.75% Cineworld Group Plc 1,236,471 0.24% CRH Plc 2,984,485 0.59% Kingdom of Belgium Government Bond 1,144,188 0.22% United States Treasury 2,931,087 0.58% Other issuers 9,233,512 1.80% British American Tobacco Plc 2,317,011 0.46% Total 32,022,239 6.22% Anheuser-Busch InBev SA/NV 2,193,408 0.43% iShares Global Government Bond Index Fund (LU) (in USD) Grifols SA 1,993,706 0.39% CNH Industrial NV 1,455,828 0.28% Netherlands Government Bond 1,767,642 0.35% OceanaGold Corp 1,455,826 0.28% Other issuers 38,107,822 7.55% Saipem SpA 1,455,822 0.28% Total 74,358,859 14.71% Clariant AG Reg 1,455,815 0.28% iShares Emerging Markets Government Bond Index Fund (LU) (in USD) Symrise AG 1,455,797 0.28% French Republic Government Bond OAT 62,423,889 2.76% Ence Energia y Celulosa SA 1,445,065 0.28% United States Treasury 41,851,407 1.85% Softcat Plc 1,371,053 0.27% Finland Government Bond 41,668,627 1.84% French Republic Government Bond OAT 1,192,634 0.23% Netherlands Government Bond 40,364,981 1.78% Descartes Systems Group Inc/The 1,024,895 0.20% Republic of Austria Government Bond 39,160,579 1.73% Kingdom of Belgium Government Bond 807,867 0.16% United Kingdom Gilt 24,637,368 1.09% Other issuers 16,812,575 3.26% Kingdom of Belgium Government Bond 24,298,180 1.07% Total 29,933,177 5.80% European Investment Bank 24,124,916 1.07% iShares Japan Equity Index Fund (LU) (in USD) Kreditanstalt fuer Wiederaufbau 24,025,339 1.06% French Republic Government Bond OAT 5,773,398 3.47% Republic of Germany 19,677,490 0.87% United States Treasury 5,412,128 3.25% Other issuers 62,742,870 2.77% Republic of Germany 5,223,440 3.14% Total 404,975,646 17.89% United Kingdom Gilt 4,451,753 2.68% iShares Europe Equity Index Fund (LU) (in EUR) Netherlands Government Bond 3,931,184 2.36% French Republic Government Bond OAT 2,193,405 0.64% Republic of Austria Government Bond 2,951,447 1.77% United Kingdom Gilt 1,909,095 0.56% Vodafone Group Plc 2,470,987 1.48% Republic of Germany 1,840,952 0.54% Lloyds Banking Group Plc 2,289,736 1.38% VeriSign Inc 1,440,249 0.42% BP Plc 1,862,029 1.12% SSAB AB 1,440,243 0.42% Kingdom of Belgium Government Bond 1,823,743 1.10% Repsol SA 1,440,242 0.42% Other issuers 33,502,703 20.13% Shimano Inc 1,440,235 0.42% Total 69,692,548 41.88% Johnson & Johnson 1,440,223 0.42% iShares North America Equity Index Fund (LU) (in USD) United States Treasury 1,360,524 0.40% French Republic Government Bond OAT 6,144,785 0.95% Metro AG 1,327,930 0.39% United Kingdom Gilt 5,094,553 0.79% Other issuers 26,887,568 7.82% Vodafone Group Plc 4,222,450 0.65% Total 42,720,666 12.45% CRH Plc 3,228,833 0.50% iShares Euro Aggregate Bond Index Fund (LU) (in EUR) Republic of Germany 2,167,921 0.33% French Republic Government Bond OAT 5,273,386 0.74% British American Tobacco Plc 2,161,070 0.33% Republic of Austria Government Bond 4,445,389 0.63% Anheuser-Busch InBev SA/NV 2,102,262 0.32% Netherlands Government Bond 2,826,915 0.40% Lloyds Banking Group Plc 2,061,421 0.32% Finland Government Bond 2,331,579 0.33% United States Treasury 2,007,664 0.31% Bayerische Motoren Werke AG 2,115,401 0.30% Grifols SA 1,906,535 0.29% A2A SpA 2,020,038 0.28% Other issuers 35,831,330 5.54% Kreditanstalt fuer Wiederaufbau 2,014,225 0.28% Total 66,928,824 10.33% Innogy SE 1,958,832 0.28% Republic of Germany 1,900,919 0.27% Meggitt Plc 1,302,076 0.18% Other issuers 18,341,816 2.57% Total 44,530,576 6.26%
Annual Report and Audited Accounts [161] Supplementary Information (Unaudited) continued
% of the Issuers Value Fund’s NAV
iShares Pacific ex Japan Equity Index Fund (LU) (in USD) French Republic Government Bond OAT 7,568,332 2.20% United States Treasury 7,361,450 2.14% Republic of Germany 5,423,903 1.57% Netherlands Government Bond 4,532,226 1.32% United Kingdom Gilt 3,435,820 1.00% Kingdom of Belgium Government Bond 2,197,841 0.64% Amazon.com Inc 1,786,165 0.52% BP Plc 1,529,854 0.44% CRH Plc 1,482,693 0.43% BNP Paribas SA 1,343,753 0.39% Other issuers 25,542,234 7.41% Total 62,204,271 18.06% iShares World Equity Index Fund (LU) (in USD) French Republic Government Bond OAT 16,785,642 1.43% United States Treasury 13,433,748 1.15% Republic of Germany 13,021,219 1.11% Netherlands Government Bond 9,921,929 0.85% United Kingdom Gilt 9,464,300 0.81% Vodafone Group Plc 6,273,568 0.54% Republic of Austria Government Bond 6,265,536 0.54% CRH Plc 5,438,653 0.46% Lloyds Banking Group Plc 4,542,249 0.39% Amazon.com Inc 3,421,781 0.29% Other issuers 105,668,444 9.03% Total 194,237,069 16.60%
No securities collateral received from a single issuer, in relation to efficient portfolio management has exceeded 20% of any of the respective Funds’ NAV at the year end date.
None of the Funds have been fully collateralised in securities issued or guaranteed by an EU member state at the year end date.
[162] BlackRock Global Index Funds (BGIF)
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31 March 2019