Overview
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
To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

Performance
Performance
Growth of Hypothetical 10,000
-
Returns
Key Facts
Key Facts
Portfolio Characteristics
Portfolio Characteristics
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 investment research, portfolio construction, and investment monitoring phases of the investment process. The Fund manager maintains internal ESG scorecards for new primary issuers under consideration for investment and existing issuers of publicly traded securities. These scorecards analyze and track internal and external research views across a range of environmental, social, and governance factors sourced from primary and third party ESG information and research. Portfolio management teams consider the sector and issuer ESG views and scores when selecting individual investments during portfolio construction. ESG factors are debated and considered in investment decisions. The Fund manager also considers ESG criteria during post-investment monitoring and conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks.
Ratings
Ratings
Risk Indicator
Risk Indicator
Holdings
Holdings
Name | Weight (%) |
---|---|
RCI BANQUE SA RegS 2.625 02/18/2030 | 1.71 |
COMMERZBANK AG RegS 6.125 12/31/2049 | 1.31 |
DEUTSCHE BANK AG MTN RegS 4 06/24/2032 | 1.30 |
BELLIS ACQUISITION COMPANY PLC RegS 3.25 02/16/2026 | 1.17 |
GOLDSTORY SAS RegS 5.375 03/01/2026 | 1.04 |
Name | Weight (%) |
---|---|
INTESA SANPAOLO SPA PNC7.5 RegS 5.5 12/31/2049 | 1.03 |
BANCO BILBAO VIZCAYA ARGENTARIA SA RegS 6 12/31/2049 | 1.03 |
CELLNEX TELECOM SA RegS 0.75 11/20/2031 | 1.03 |
BAYER AG NC5.5 RegS 4.5 03/25/2082 | 1.01 |
UNITED GROUP BV RegS 4.875 07/01/2024 | 1.00 |
Exposure Breakdowns
Exposure Breakdowns
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 Hgd | SEK | Accumulating | 116.55 | 0.24 | 0.21 | Feb 3, 2023 | 125.25 | 104.48 | LU1258857645 | - |
X2 | EUR | Accumulating | 12.92 | 0.02 | 0.16 | Feb 3, 2023 | 13.72 | 11.56 | LU1264796209 | - |
D4 | EUR | Annual | 9.29 | 0.02 | 0.22 | Feb 3, 2023 | 10.36 | 8.33 | LU1258857561 | - |
D2 | EUR | Accumulating | 12.24 | 0.03 | 0.25 | Feb 3, 2023 | 13.08 | 10.97 | LU1191877965 | - |
E5 | EUR | Quarterly | 9.14 | 0.01 | 0.11 | Feb 3, 2023 | 10.21 | 8.30 | LU1270846964 | - |
E2 | EUR | Accumulating | 11.33 | 0.02 | 0.18 | Feb 3, 2023 | 12.23 | 10.19 | LU1270846881 | - |
D4 Hgd | GBP | Annual | 9.76 | 0.02 | 0.21 | Feb 3, 2023 | 10.75 | 8.71 | LU1258858023 | - |
A2 Hgd | CHF | Accumulating | 11.38 | 0.03 | 0.26 | Feb 3, 2023 | 12.27 | 10.25 | LU1258857728 | - |
A2 | EUR | Accumulating | 11.75 | 0.03 | 0.26 | Feb 3, 2023 | 12.61 | 10.54 | LU1191877379 | - |
Portfolio Managers
Portfolio Managers


Jose Aguilar, Managing Director, is the head of European High Yield Strategies within BlackRock's Global Credit Platform.

James Turner ACA, is Head of European Leveraged Finance, overseeing investment strategies across European High Yield, Long/Short Credit, CLOs, Leveraged Loans and the European Fundamental Credit Research team.