Equity

BSF Asia Pacific 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.

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

Performance chart data not available for display.
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  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) 1.85 -5.29 6.14 8.95
Comparator Benchmark 1 (%) 2.08 2.60 1.08 0.18
  1Y 3Y 5Y 10y Incept.
6.75 7.12 3.06 - 2.41
Comparator Benchmark 1 (%) 1.26 0.94 1.47 - 1.43
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
8.33 1.76 2.86 7.04 6.75 22.93 16.26 - 14.50
Comparator Benchmark 1 (%) 1.24 0.28 0.74 1.10 1.26 2.85 7.56 - 8.41
  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

-3.65 -1.53 4.92 10.88 1.49
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 Nov 29, 2022 USD 37,159,972
Share Class Inception Date Feb 22, 2017
Fund Inception Date Feb 22, 2017
Share Class Currency EUR
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 3.00%
Ongoing Charge 2.42%
Annual Management Fee 2.00%
Performance Fee 20.00%
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Equity Market Neutral EUR
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSAPE2H
ISIN LU1508158513
SEDOL BDR09V7

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Oct 31, 2022 2341
Standard Deviation (3y) as of Oct 31, 2022 9.40%
P/E Ratio as of Oct 31, 2022 -67.42
P/B Ratio as of Oct 31, 2022 -3.03

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

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 Oct 31, 2022 0.00%
MSCI - UN Global Compact Violators as of Oct 31, 2022 0.00%
MSCI - Nuclear Weapons as of Oct 31, 2022 0.00%
MSCI - Thermal Coal as of Oct 31, 2022 0.00%
MSCI - Civilian Firearms as of Oct 31, 2022 0.00%
MSCI - Oil Sands as of Oct 31, 2022 0.00%
MSCI - Tobacco as of Oct 31, 2022 0.00%

Business Involvement Coverage as of Oct 31, 2022 67.02%
Percentage of Fund not covered as of Oct 31, 2022 29.51%
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 0.02% and for Oil Sands 0.00%.

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 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

4 stars
Overall Morningstar Rating for BSF Asia Pacific Diversified Equity Absolute Return Fund, Class E2 Hedged, as of Oct 31, 2022 rated against 211 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 31, 2022
Name Weight (%)
TISCO FINANCIAL GROUP PCL 2.53
KIATNAKIN PHATRA BANK PCL 2.32
CHICONY ELECTRONICS CO LTD 2.00
PRIMAX ELECTRONICS LTD. 1.59
BANK CENTRAL ASIA TBK PT 1.56
Name Weight (%)
KING YUAN ELECTRONICS CO LTD 1.55
CHROMA ATE INC 1.54
WISTRON NEWEB CORP 1.50
WILMAR INTERNATIONAL LTD 1.43
SIMPLO TECHNOLOGY CO LTD 1.43
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Oct 31, 2022

% of Market Value

Type Fund
as of Oct 31, 2022

% of Market Value

Type Fund
as of Oct 31, 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
E2 Hgd EUR Accumulating 113.96 -0.13 -0.11 Nov 29, 2022 114.82 104.48 LU1508158513 -
X2 USD Accumulating 149.12 -0.24 -0.16 Nov 29, 2022 150.08 131.17 LU1508158273 -
D2 Hgd EUR Accumulating 119.12 -0.14 -0.12 Nov 29, 2022 119.86 108.37 LU1593227850 -
D2 USD Accumulating 133.06 -0.17 -0.13 Nov 29, 2022 133.78 119.41 LU1508158190 -
A2 Hgd EUR Accumulating 117.29 -0.14 -0.12 Nov 29, 2022 118.04 107.16 LU1508158430 -
A2 USD Accumulating 129.99 -0.16 -0.12 Nov 29, 2022 130.70 117.08 LU1508157978 -
Class Z2 Hedged GBP Accumulating 129.67 -0.16 -0.12 Nov 29, 2022 130.44 116.00 LU1586024074 -
Class Z2 USD Accumulating 137.45 -0.19 -0.14 Nov 29, 2022 138.22 122.75 LU1508158356 -
Class Z2 Hedged EUR Accumulating 124.19 -0.16 -0.13 Nov 29, 2022 124.98 112.49 LU1508158604 -

Portfolio Managers

Portfolio Managers

Jeff Shen, PhD
Managing Director, Co-CIO of Active Equity and Co-Head of Systematic Active Equity

 Jeff Shen

Literature

Literature