Equity

BSF European 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 Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent.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.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

This fund does not have any distributions data as of now.
  From
30-Sep-2016
To
30-Sep-2017
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
Total Return (%)

as of Sep 30, 2021

-2.10 1.69 2.47 10.15 -0.65
Benchmark (%)

as of Sep 30, 2021

-0.35 -0.37 -0.37 -0.41 -0.55
  1Y 3Y 5Y 10y Incept.
2.96 5.16 3.32 2.89 2.97
Benchmark (%)

as of Oct 31, 2021

-0.55 -0.45 -0.41 -0.13 0.06
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
5.49 3.18 2.01 2.96 16.30 17.75 33.00 41.95
Benchmark (%)

as of Oct 31, 2021

-0.46 -0.05 -0.14 -0.55 -1.34 -2.05 -1.25 0.71
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

Size of Fund (Millions) as of Dec 2, 2021 EUR 1,605.280
12m Trailing Yield -
Number of Holdings as of Oct 29, 2021 115
Base Currency Euro
Fund Inception Date Feb 27, 2009
Share Class Inception Date Dec 31, 2009
Asset Class Equity
Morningstar Category Equity Market Neutral EUR
Benchmark Index 3 Month Euro Libor Rate
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 2.37%
ISIN LU0414665884
Bloomberg Ticker BLEUAE2
Annual Management Fee 2.00%
Initial Charge 3.00%
Performance Fee 20.00%
SEDOL B595DP6
Bloomberg Benchmark Ticker ECC0TR03
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of Nov 30, 2021 0.03
3y Beta as of Oct 31, 2021 19.333
5y Volatility - Benchmark as of Nov 30, 2021 0.03
5y Beta as of Oct 31, 2021 -2.662

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 combination with other information in the research and decision phases of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. 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

4 stars
Overall Morningstar Rating for BSF European Absolute Return Fund, Class E2, as of Nov 30, 2021 rated against 196 Equity Market Neutral EUR Funds.

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Oct 29, 2021
Name Weight (%)
LONZA GROUP AG 4.29
ROYAL UNIBREW A/S 3.71
DSV A/S 3.36
VAT GROUP AG 2.59
IMCD NV 2.56
Name Weight (%)
NOVO NORDISK A/S 2.52
RELX PLC 2.49
STRAUMANN HOLDING AG 2.38
LVMH MOET HENNESSY LOUIS VUITTON SE 2.12
JD SPORTS FASHION PLC 2.09
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Oct 29, 2021

% of Market Value

Type Long Short Net
as of Oct 29, 2021

% of Market Value

Type Long Short Net
as of Oct 29, 2021

% of Market Value

Type Long Short Net
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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
E2 EUR Accumulating 147.53 -0.13 -0.09 149.03 131.40 - LU0414665884 - -
A2 EUR Accumulating 155.21 -0.14 -0.09 156.76 137.89 - LU0411704413 - -
D2 EUR Accumulating 163.00 -0.14 -0.09 164.60 144.49 - LU0414666189 - -
I2 EUR Accumulating 166.63 -0.15 -0.09 168.25 147.13 - LU0776931064 - -
D2 Hgd CHF Accumulating 157.17 -0.13 -0.08 158.72 139.18 - LU0748867792 - -
D2 Hgd GBP Accumulating 173.47 -0.14 -0.08 175.08 152.57 - LU0802637750 - -
A4 EUR Annual 155.16 -0.14 -0.09 156.71 137.84 - LU0414668557 - -
D4 EUR Annual 160.21 -0.14 -0.09 161.78 141.73 - LU0827970921 - -

Portfolio Managers

Portfolio Managers

Stephanie Bothwell
Stephanie Bothwell
Stefan Gries
Stefan Gries

Literature

Literature