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Semi-Annual Report Semi-Annual Report BlackRock Premier Funds • iShares Hong Kong Equity Index Fund • BlackRock China A-Shares Fund • iShares Asia ex-Japan Equity Index Fund • iShares World Equity Index Fund • iShares World Government Bond Index Fund • China US Dollar Bond Fund For the period from 1 October 2020 to 31 March 2021 (Unaudited) (Sub-Funds of BlackRock Premier Funds) Contents Condensed Statement of Financial Position (unaudited) 2 Condensed Statement of Comprehensive Income (unaudited) 4 Condensed Statement of Changes in Net Assets Attributable to Unitholders (unaudited) 6 Condensed Statement of Cash Flows (unaudited) 9 Holdings of Collateral (unaudited) 12 Notes to the Condensed Financial Statements (unaudited) 13 Investment Portfolio (unaudited) 17 – iShares Hong Kong Equity Index Fund – BlackRock China A-Shares Fund – iShares Asia ex-Japan Equity Index Fund – iShares World Equity Index Fund – iShares World Government Bond Index Fund – China US Dollar Bond Fund Statement of Movements in Investment Portfolio (unaudited) 70 – iShares Hong Kong Equity Index Fund – BlackRock China A-Shares Fund – iShares Asia ex-Japan Equity Index Fund – iShares World Equity Index Fund – iShares World Government Bond Index Fund – China US Dollar Bond Fund Performance Table (unaudited) 77 Management and Administration 80 Semi-Annual Report 1 Condensed Statement of Financial Position (unaudited) As at 31 March 2021 iShares Hong Kong Equity Index Fund BlackRock China A-Shares Fund 31 March 2021 30 September 2020 31 March 2021 30 September 2020 (Unaudited) (Audited) (Unaudited) (Audited) HKD HKD USD USD Assets Non-current assets Deposit reserve – – 45,477 44,460 Current assets Financial assets at fair value through profit or loss 2,190,890,488 1,824,372,501 21,575,618 19,902,612 Amounts due from brokers 231,540 – 274,398 – Amounts receivable on subscription 11,000,000 11,000,000 – – Dividends receivable 3,486,701 3,164,341 – – Prepayments and other accounts receivable – 55,409 – – Margin accounts 125,206 – – – Bank balances 5,230,471 23,426,503 1,009,207 273,985 Total assets 2,210,964,406 1,862,018,754 22,904,700 20,221,057 Liabilities Current liabilities Financial liabilities at fair value through profit or loss 118,421 9,350 – – Administration fee payable 119,329 153,096 2,070 1,694 Amounts due to brokers 11,087,710 – 385,089 – Amounts payable on redemption 3,382,579 5,620,706 952 – Management fee payable 442,303 340,157 11,272 8,951 Other accounts payable and accruals 109,383 60,684 370 1,780 Overdraft on margin accounts 4 120,750 1 – Liabilities (excluding net assets attributable to unitholders) 15,259,729 6,304,743 399,754 12,425 Net assets attributable to unitholders 2,195,704,677 1,855,714,011 22,504,946 20,208,632 iShares Asia ex-Japan Equity Index Fund iShares World Equity Index Fund 31 March 2021 30 September 2020 31 March 2021 30 September 2020 (Unaudited) (Audited) (Unaudited) (Audited) HKD HKD HKD HKD Assets Current assets Financial assets at fair value through profit or loss 264,629,282 201,087,064 2,739,494,639 2,169,653,823 Amounts due from brokers – – 3,534,666 1,788 Amounts receivable on subscription – – 8,634,370 7,631,161 Dividends receivable 830,071 300,325 4,371,311 2,682,465 Prepayments and other accounts receivable 29,762 19,346 161,690 103,658 Margin accounts 29,869 5,968 – 1,154,527 Bank balances 1,327,087 5,840,182 58,876,660 65,137,741 Total assets 266,846,071 207,252,885 2,815,073,336 2,246,365,163 Liabilities Current liabilities Financial liabilities at fair value through profit or loss 14,581 – 225,808 495,762 Administration fee payable 24,330 14,544 148,956 182,464 Amounts due to brokers – 5,444,859 3,567,952 – Amounts payable on redemption – – 5,087,924 8,005,059 Management fee payable 1,011 738 922 706 Other accounts payable and accruals 34,911 37,974 47,419 54,230 Overdraft on margin accounts 2 – 868,110 1,151,076 Liabilities (excluding net assets attributable to unitholders) 74,835 5,498,115 9,947,091 9,889,297 Net assets attributable to unitholders 266,771,236 201,754,770 2,805,126,245 2,236,475,866 The accompanying notes form part of these condensed financial statements. 2 BlackRock Premier Funds Condensed Statement of Financial Position (unaudited) (continued) As at 31 March 2021 iShares World Government Bond Index Fund China US Dollar Bond Fund 31 March 2021 30 September 2020 31 March 2021 30 September 2020 (Unaudited) (Audited) (Unaudited) (Audited) HKD HKD USD USD Assets Current assets Financial assets at fair value through profit or loss 4,650,150,539 3,988,894,346 86,813,066 81,611,264 Amounts due from brokers 94,568,073 73,211,445 1,263,984 600,793 Amounts receivable on subscription 12,772,174 26,531,193 281,454 1,280,831 Margin accounts – – – 29,587 Bank balances 34,085,482 31,235,183 6,914,846 3,807,600 Total assets 4,791,576,268 4,119,872,167 95,273,350 87,330,075 Liabilities Current liabilities Financial liabilities at fair value through profit or loss 19,881,783 6,181,554 126,751 21,180 Administration fee payable 245,381 321,868 17,080 13,823 Amounts due to brokers 183,729,892 134,008,073 1,756,234 452,953 Amounts payable on redemption 4,806,548 13,196,840 260,133 160,092 Distributions payable – – 363,794 349,654 Management fee payable 25,560 21,484 84,748 68,531 Other accounts payable and accruals 32,662 29,135 672 923 Overdraft on margin accounts – – 129,403 – Liabilities (excluding net assets attributable to unitholders) 208,721,826 153,758,954 2,738,815 1,067,156 Net assets attributable to unitholders 4,582,854,442 3,966,113,213 92,534,535 86,262,919 The accompanying notes form part of these condensed financial statements. Semi-Annual Report 3 Condensed Statement of Comprehensive Income (unaudited) For the period ended 31 March 2021 iShares Hong Kong Equity Index Fund BlackRock China A-Shares Fund For the For the For the For the period ended period ended period ended period ended 31 March 2021 31 March 2020 31 March 2021 31 March 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) HKD HKD USD USD Income Dividend income 8,137,344 10,662,290 13,441 – Interest income 299 10,078 51 6,975 Net gain/(loss) on financial assets and financial liabilities at fair value through profit or loss 356,589,051 (125,759,601) 3,238,859 636,709 Net exchange gain/(loss) 5,136 (23,493) (530) (8,795) Total net income/(loss) 364,731,830 (115,110,726) 3,251,821 634,889 Expenses Administration fee (630,676) (801,095) (11,530) (24,008) Brokerage commission (252,925) (85,216) (12,390) (18,499) Management fee (2,350,880) (1,942,878) (61,629) (86,032) Transaction costs on financial assets and financial liabilities at fair value through profit or loss (1,591,549) (535,809) (14,793) (20,602) Other operating expenses – – (1) (9) Total operating expenses (4,826,030) (3,364,998) (100,343) (149,150) Operating profit/(loss) 359,905,800 (118,475,724) 3,151,478 485,739 Finance costs Interest expense (513) (1,168) (1) – Profit/(loss) before taxation 359,905,287 (118,476,892) 3,151,477 485,739 Taxation Withholding tax (102,282) (31,086) (1,349) (121) Net increase/(decrease) in net assets attributable to unitholders 359,803,005 (118,507,978) 3,150,128 485,618 iShares Asia ex-Japan Equity Index Fund iShares World Equity Index Fund For the For the For the For the period ended period ended period ended period ended 31 March 2021 31 March 2020 31 March 2021 31 March 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) HKD HKD HKD HKD Income Dividend income 1,477,122 944,987 21,992,761 17,437,149 Interest income 20 485 – 235,988 Net gain/(loss) on financial assets and financial liabilities at fair value through profit or loss 49,336,711 (16,612,003) 448,735,723 (286,448,068) Net exchange (loss)/gain (88,863) (19,940) 1,304,877 (2,017,116) Other income 134,193 74,776 163,198 95,712 Total net income/(loss) 50,859,183 (15,611,695) 472,196,559 (270,696,335) Expenses Administration fee (123,488) (67,317) (768,968) (860,673) Bank charges – – (6) – Brokerage commission (21,587) (1,171) (85,324) (96,787) Management fee (5,278) (4,002) (4,806) (3,862) Transaction costs on financial assets and financial liabilities at fair value through profit or loss (162,395) (9,268) (161,854) (265,645) Other operating expenses – – 2 2 Total operating expenses (312,748) (81,758) (1,020,956) (1,226,965) Operating profit/(loss) 50,546,435 (15,693,453) 471,175,603 (271,923,300) Finance costs Interest expense (2,768) (33) (51,312) (30,162) Profit/(loss) before taxation 50,543,667 (15,693,486) 471,124,291 (271,953,462) Taxation Withholding tax (234,980) (124,965) (4,516,009) (3,584,676) Net increase/(decrease) in net assets attributable to unitholders 50,308,687 (15,818,451) 466,608,682 (275,538,138) The accompanying notes form part of these condensed financial statements. 4 BlackRock Premier Funds Condensed Statement of Comprehensive Income (unaudited) (continued) For the period ended 31 March 2021 iShares World Government Bond Index Fund China US Dollar Bond Fund For the period from 20 August 2019 (date of For the For the For the commencement period ended period ended period ended of operations) to 31 March 2021 31 March 2020 31 March 2021 31 March 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) HKD HKD USD USD Income Interest income 364 19,130 – 23,676 Net (loss)/gain on financial assets and financial liabilities at fair value through profit or loss (145,987,834) 79,654,198 2,216,073 (2,002,950) Net exchange (loss)/gain (126,849) 12,512,381 (6,591) 7,916 Total net income/(loss) (146,114,319) 92,185,709 2,209,482 (1,971,358) Expenses Administration fee (1,278,539)
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