Equity

BSF Americas Diversified Equity Absolute Return Fund

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The strategies utilized by the Fund involve the use of derivatives to facilitate certain investment management techniques including the establishment of both 'long' and 'synthetic short' positions and creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Funds. Investors in this fund should understand that the Fund is not guaranteed to produce a positive return and as an absolute return product, performance may not move in line with general stock market trends as both positive and negative share movements affect the overall value of the fund. The Manager employs a risk management process to oversee and manage derivative exposure within the Fund. The Fund may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of the fund.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

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Performance

Performance

Growth of Hypothetical 10,000

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  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) -0.98 3.54 9.00 -1.17 4.89 0.56 2.19 -2.84 8.80
Comparator Benchmark 1 (%) 0.29 0.23 0.23 0.66 1.11 2.08 2.60 1.08 0.18
  1Y 3Y 5Y 10y Incept.
6.38 3.25 2.39 2.76 3.48
Comparator Benchmark 1 (%) 1.59 1.00 1.52 1.00 0.97
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
4.26 1.37 5.55 3.09 6.38 10.05 12.53 31.24 44.69
Comparator Benchmark 1 (%) 1.58 0.33 0.85 1.36 1.59 3.03 7.82 10.50 10.93
  From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
Total Return (%)

as of Sep 30, 2022

6.65 -3.26 -0.25 0.63 6.00
Comparator Benchmark 1 (%)

as of Sep 30, 2022

1.79 2.64 1.57 0.21 0.98
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Net Assets of Fund as of Dec 7, 2022 USD 754,002,157
Share Class Inception Date Feb 17, 2012
Fund Inception Date Feb 17, 2012
Share Class Currency USD
Base Currency USD
Asset Class Equity
Comparator Benchmark 1 3 Month SOFR Compounded in Arrears plus 26.1 basis point spread
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charge 1.99%
Annual Management Fee 1.50%
Performance Fee 20.00%
Minimum Initial Investment USD 5000
Minimum Subsequent Investment USD 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Equity Market Neutral USD
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSADA2U
ISIN LU0725887540
SEDOL B77H4F5

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Nov 30, 2022 3690
Standard Deviation (3y) as of Nov 30, 2022 4.93%
3y Beta as of Nov 30, 2022 3.070
P/E Ratio as of Nov 30, 2022 10.54
P/B Ratio as of Nov 30, 2022 -0.49

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in the research and decision phases of the investment process. This may include relevant, internal ESG research which along with multiple other research insights, informs active portfolio weighting versus a reference benchmark (or weighting implemented to achieve an absolute return outcome, if applicable). The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BSF Americas Diversified Equity Absolute Return Fund, Class A2, as of Nov 30, 2022 rated against 114 Equity Market Neutral USD Funds.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Nov 30, 2022
Name Weight (%)
DTE ENERGY COMPANY 2.55
PEPSICO INC 2.11
COLGATE-PALMOLIVE CO 1.99
PACCAR INC 1.81
BECTON DICKINSON AND COMPANY 1.79
Name Weight (%)
CIGNA CORP 1.75
CMS ENERGY CORPORATION 1.73
HERSHEY COMPANY THE 1.73
BLACK HILLS CORPORATION 1.68
CLEARWAY ENERGY INC 1.66
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Nov 30, 2022

% of Market Value

Type Fund
as of Nov 30, 2022

% of Market Value

Type Fund
as of Nov 30, 2022

% of Market Value

Type Fund
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
A2 USD Accumulating 143.56 -0.04 -0.03 Dec 7, 2022 144.90 135.53 LU0725887540 -
D2 Hgd EUR Accumulating 131.97 -0.04 -0.03 Dec 7, 2022 133.34 125.08 LU0725892383 -
D2 Hgd CHF Accumulating 106.57 -0.06 -0.06 Dec 7, 2022 107.79 100.89 LU1238068594 -
A2 Hgd EUR Accumulating 126.59 -0.06 -0.05 Dec 7, 2022 128.20 119.92 LU0725892466 -
I2 Hgd EUR Accumulating 108.22 -0.03 -0.03 Dec 7, 2022 109.29 102.54 LU1323999489 -
I2 Hgd SEK - 101.59 -0.03 -0.03 Dec 7, 2022 102.55 96.04 LU1873114208 -
X2 USD Accumulating 181.27 -0.07 -0.04 Dec 7, 2022 183.21 168.65 LU0849781678 -
I2 Hgd JPY - 10,459.28 -3.61 -0.03 Dec 7, 2022 10,577.97 9,933.42 LU1791183780 -
A2 AUD Accumulating 215.10 -0.03 -0.01 Dec 7, 2022 230.41 183.69 LU0840974975 -
E2 Hgd EUR Accumulating 100.57 -0.05 -0.05 Dec 7, 2022 101.91 95.39 LU1266592614 -
A2 GBP Accumulating 186.59 -0.38 -0.20 Dec 7, 2022 207.43 158.49 LU0784324112 -
A2 Hgd SEK Accumulating 130.09 -0.06 -0.05 Dec 7, 2022 131.50 123.05 LU0765562458 -
I2 USD Accumulating 118.36 -0.03 -0.03 Dec 7, 2022 119.41 111.58 LU1653088168 -
D2 Hgd GBP Accumulating 119.22 -0.04 -0.03 Dec 7, 2022 120.34 112.67 LU1246651910 -
D2 USD Accumulating 124.08 -0.03 -0.02 Dec 7, 2022 125.20 117.05 LU1238068321 -
A2 EUR - 114.90 -0.21 -0.18 Dec 7, 2022 124.07 101.18 LU1991022069 -

Portfolio Managers

Portfolio Managers

Raffaele Savi
Global Head of BlackRock Systematic and Co-CIO and Co-Head of Systematic Active Equity

Raffaele Savi, Managing Director, is Global Head of BlackRock Systematic and Co-CIO and Co-Head of Systematic Active Equity (SAE).

Travis Cooke
Travis Cooke

Literature

Literature