Equity

BlackRock UK Special Situations 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.

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

Loading

Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 12.18 22.24 -12.03 32.56 -7.22 20.85 -16.90 5.30
Constraint Benchmark 1 (%) 16.75 13.10 -9.47 19.17 -9.82 18.32 0.34 7.92
Comparator Benchmark 2 (%) 10.85 14.02 -11.34 22.31 -6.18 17.13 -9.27 7.32

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1Y 3Y 5Y 10y Incept.
0.84 1.84 3.90 - 4.89
Constraint Benchmark 1 (%) 1.90 8.42 5.46 - 4.81
Comparator Benchmark 2 (%) 1.81 4.49 4.24 - 4.00
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-0.47 -0.47 8.34 1.77 0.84 5.63 21.08 - 52.69
Constraint Benchmark 1 (%) -1.32 -1.32 6.21 1.14 1.90 27.46 30.42 - 51.63
Comparator Benchmark 2 (%) -0.87 -0.87 9.09 1.93 1.81 14.08 23.09 - 41.60
  From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
From
31-Dec-2022
To
31-Dec-2023
Total Return (%)

as of Dec 31, 2023

32.56 -7.22 20.85 -16.90 5.30
Constraint Benchmark 1 (%)

as of Dec 31, 2023

19.17 -9.82 18.32 0.34 7.92
Comparator Benchmark 2 (%)

as of Dec 31, 2023

22.31 -6.18 17.13 -9.27 7.32
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.

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in GBP, hedged share class benchmark performance is displayed in GBP.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund as of Feb 21, 2024 GBP 423,868,486
Share Class Inception Date Mar 20, 2015
Fund Inception Date Mar 14, 1981
Share Class Currency GBP
Base Currency GBP
Asset Class Equity
Constraint Benchmark 1 FTSE All-Share TR Index (GBP)
Comparator Benchmark 2 IMA UK All Companies Sector Average Index (GBP)
SFDR Classification -
Investment Association Category UK All Companies
Initial Charge 5.00%
Ongoing Charge 0.83%
ISIN GB00BW1YM751
Annual Management Fee 0.67%
Performance Fee 0.00%
Minimum Initial Investment GBP 50000000
Minimum Subsequent Investment GBP 50
Use of Income Accumulating
Domicile United Kingdom
Regulatory Structure UCITS
Management Company BlackRock Fund Managers Ltd
Morningstar Category UK Flex-Cap Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BLUSSSG LN
SEDOL BW1YM75
Ongoing Charges Figure ex. Discount 0.83%
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 31, 2024 72
Standard Deviation (3y) as of Jan 31, 2024 14.92%
P/E Ratio as of Jan 31, 2024 14.61
P/B Ratio as of Jan 31, 2024 1.66

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Jan 19, 2024 AA
MSCI ESG % Coverage as of Jan 19, 2024 97.36
MSCI ESG Quality Score (0-10) as of Jan 19, 2024 7.70
MSCI ESG Quality Score - Peer Percentile as of Jan 19, 2024 91.60
Fund Lipper Global Classification as of Jan 19, 2024 Equity UK Sm&Mid Cap
Funds in Peer Group as of Jan 19, 2024 250
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 19, 2024 80.36
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 19, 2024 96.88
All data is from MSCI ESG Fund Ratings as of Jan 19, 2024, based on holdings as of Aug 31, 2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Jan 31, 2024 0.00%
MSCI - UN Global Compact Violators as of Jan 31, 2024 0.00%
MSCI - Nuclear Weapons as of Jan 31, 2024 0.00%
MSCI - Thermal Coal as of Jan 31, 2024 0.00%
MSCI - Civilian Firearms as of Jan 31, 2024 0.00%
MSCI - Oil Sands as of Jan 31, 2024 0.00%
MSCI - Tobacco as of Jan 31, 2024 0.00%

Business Involvement Coverage as of Jan 31, 2024 99.91%
Percentage of Fund not covered as of Jan 31, 2024 0.09%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 6.21%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research phase 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, where appropriate, 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 BlackRock UK Special Situations Fund, Class S, as of Jan 31, 2024 rated against 379 UK Flex-Cap Equity Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Nov 1, 2023)

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Jan 31, 2024
Name Weight (%)
ASTRAZENECA PLC 4.06
LONDON STOCK EXCHANGE GROUP PLC 3.67
SHELL PLC 3.61
RIO TINTO PLC 3.47
RELX PLC 3.03
Name Weight (%)
HSBC HOLDINGS PLC 2.74
GAMMA COMMUNICATIONS PLC 2.68
BP PLC 2.60
UNILEVER PLC 2.55
4IMPRINT GROUP PLC 2.54
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jan 31, 2024

% of Market Value

Type Fund
as of Jan 31, 2024

% 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 Bid Price Offer Price ISIN
Class S GBP 1.51 1.52 GB00BW1YM751
X GBP 25.37 25.63 GB00B8DXV537
A GBP 47.77 48.25 GB0005805022
D GBP 53.00 53.54 GB00B3V1C060
A GBP 25.53 25.79 GB0005803977
Class S GBP 1.28 1.29 GB00BVW2JH06
D GBP 25.69 25.95 GB00B3R25W66
Class X ACC GBP 1.12 1.14 GB00BFBFX988

Portfolio Managers

Portfolio Managers

Roland Arnold
Roland Arnold

Literature

Literature