Equity

BSF Emerging Companies Absolute Return Fund

  • NAV as of May 18, 2022 GBP 105.16
    52 WK: 105.16 - 139.23
  • 1 Day NAV Change as of May 18, 2022 -0.56 (-0.53%)

Overview

Investment Approach

The Fund aims to achieve positive absolute returns through a combination of capital growth and income on your investment regardless of market conditions. The Fund seeks to gain at least 60% of its investment exposure to equity securities (e.g. shares) and equity-related securities of companies domiciled in, or the main business of which is in, or have their primary listing in, the United Kingdom. Such companies include small, mid and large-capitalisation companies that are considered ‘emerging’, i.e. at an early stage of their life cycle and/or are expected to experience significant growth. In selecting the Fund’s investments, the Investment Adviser (IA) will use fundamental analysis, focusing on evaluating companies’ earning power and identifying emerging structural changes within industries. The Fund will invest at least 70% of its assets in equity securities and other equity-related securities, including financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). The Fund may also, when determined appropriate, invest in fixed income (FI) securities, money market instruments (MMIs) (i.e. debt securities with short-term maturities), deposits and cash.
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. Shares in smaller companies typically trade in less volume and experience greater price variations than larger companies. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. Due to its investment strategy an 'Absolute Return' fund may not move in line with market trends or fully benefit from a positive market environment. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Share Class and Benchmark performance displayed in GBP. Source: BlackRock. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested. Past performance is not a guide to future performance.

Reinvestments

This fund does not have any distributions data as of now.
Record Date Ex-Date Payable Date Total Distribution
  From
31-Mar-2017
To
31-Mar-2018		 From
31-Mar-2018
To
31-Mar-2019		 From
31-Mar-2019
To
31-Mar-2020		 From
31-Mar-2020
To
31-Mar-2021		 From
31-Mar-2021
To
31-Mar-2022
Total Return (%)

as of Mar 31, 2022

- - 4.08 15.86 -2.93
Benchmark (%)

as of Mar 31, 2022

- - 0.76 0.14 0.20
  1Y 3Y 5Y 10y Incept.
Total Return (%)

as of Apr 30, 2022

-13.39 2.50 - - 2.92
Benchmark (%)

as of Apr 30, 2022

0.26 0.36 - - 0.44
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
Total Return (%)

as of Apr 30, 2022

-18.17 -6.26 -7.87 -13.39 7.69 - - 10.73
Benchmark (%)

as of Apr 30, 2022

0.19 0.07 0.16 0.26 1.10 - - 1.56
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 Class (Millions) -
Size of Fund (Millions) as of May 18, 2022 GBP 606.450
Asset Class Alternative
Lipper Classification -
12m Trailing Yield -
Number of Holdings 199
CUSIP BRTL14BY7
Fund Inception Date Oct 17, 2018
Share Class Inception Date Oct 17, 2018
Morningstar Category Long/Short Equity - UK
Benchmark Index 3 Month SONIA Compounded in Arrears + 11.9 basis points spread
SFDR Classification Other
Regulatory Structure UCITS
Net, Including Investment Related Expenses -
Net, Excluding Investment Related Expenses -
Management Company BlackRock (Luxembourg) S.A.
Gross Expense Ratio -
Ongoing Charge 1.37%
Distribution Frequency -
ISIN LU1861218136
Bloomberg Ticker BRUED2G
Annual Management Fee 1.00%
Max Offer Price -
Initial Charge 5.00%
Open to New Investors Yes
Performance Fee 20.00%
Turnover Percent -
SEDOL BDRMQN4
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Weekly, Business Day
Minimum Initial Investment GBP 100000
Minimum Subsequent Investment GBP 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of Apr 30, 2022 0.09
3y Beta as of Apr 30, 2022 -10.760
5y Volatility - Benchmark as of - -
5y Beta as of - -
P/E Ratio as of Apr 29, 2022 79.27
P/B Ratio as of Apr 29, 2022 -29.77
Average Market Cap (Millions) as of Apr 29, 2022 GBP 295,243.8 M

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 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 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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Apr 29, 2022
Name Weight (%)
MICROSOFT CORPORATION 4.30
ELECTROCOMPONENTS PLC 3.68
ACCENTURE PLC 2.72
GAMMA COMMUNICATIONS PLC 2.61
RENTOKIL INITIAL PLC 2.59
Name Weight (%)
ALPHABET INC 2.52
WATCHES OF SWITZERLAND GROUP PLC 2.44
THERMO FISHER SCIENTIFIC INC 2.43
RELX PLC 2.37
ASHTEAD GROUP PLC 2.22
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Apr 29, 2022

% of Market Value

Type Fund
as of Apr 29, 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
D2 GBP - 105.16 -0.56 -0.53 139.23 105.16 - LU1861218136 - -
A2 Hgd CHF - 97.61 -0.56 -0.57 130.82 97.61 - LU1991003358 - -
Class Z2 Hedged USD - 110.91 -0.54 -0.48 146.38 110.91 - LU1861219704 - -
I2 Hgd USD - 109.19 -0.55 -0.50 144.13 109.19 - LU1861219886 - -
A2 Hgd CNH - 911.60 -4.52 -0.49 1,188.24 911.60 - LU2252211383 - -
Class I4 GBP - 99.36 -0.52 -0.52 131.29 99.36 - LU2066748497 - -
I2 GBP - 106.52 -0.56 -0.52 140.62 106.52 - LU1861218300 - -
Class Z2 GBP - 108.06 -0.57 -0.52 143.01 108.06 - LU1861218219 - -
D2 Hgd USD - 107.84 -0.55 -0.51 142.55 107.84 - LU1861219613 - -
I2 Hgd CHF - 101.91 -0.57 -0.56 135.77 101.91 - LU1861219530 - -
X2 GBP - 115.94 -0.59 -0.51 154.69 115.94 - LU1861218482 - -
A2 GBP - 100.61 -0.54 -0.53 133.62 100.61 - LU1990957067 - -
Class Z2 Hedged CHF - 103.09 -0.58 -0.56 137.86 103.09 - LU1861219456 - -
I2 Hgd EUR - 103.19 -0.56 -0.54 137.24 103.19 - LU1861219290 - -
Class Z2 Hedged EUR - 104.51 -0.56 -0.53 139.52 104.51 - LU1861219027 - -
A2 Hgd EUR - 100.70 -0.56 -0.55 134.79 100.70 - LU1861218565 - -
A2 Hgd USD - 101.64 -0.53 -0.52 135.41 101.64 - LU1990978147 - -
D2 Hgd CHF - 100.72 -0.57 -0.56 134.51 100.72 - LU1861219373 - -
D2 Hgd EUR - 102.02 -0.56 -0.55 136.23 102.02 - LU1861218995 - -
Class S2 GBP - 106.16 -0.56 -0.52 140.05 106.16 - LU1884804383 - -

Portfolio Managers

Portfolio Managers

Dan Whitestone
Dan Whitestone
Nicholas Little
Nicholas Little

Literature

Literature