Equity

BSF European Absolute Return Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. 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 utilised 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 Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent.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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Distributions

This fund does not have any distributions data as of now.
  From
30-Sep-2015
To
30-Sep-2016
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
Total Return (%)

as of Sep 30, 2020

-1.10 -1.61 2.20 2.88 10.57
Benchmark (%)

as of Sep 30, 2020

-0.22 -0.35 -0.37 -0.37 -0.41
  1Y 3Y 5Y 10y Incept.
10.57 5.15 2.50 3.54 3.50
Benchmark (%)

as of Sep 30, 2020

-0.41 -0.38 -0.34 0.07 0.17
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
11.77 2.24 4.14 10.57 16.26 13.12 41.61 48.63
Benchmark (%)

as of Sep 30, 2020

-0.30 -0.04 -0.12 -0.41 -1.14 -1.71 0.71 1.98
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

Size of Fund (Millions) as of Oct 21, 2020 EUR 2,534.285
12m Trailing Yield -
Number of Holdings as of Sep 30, 2020 110
Base Currency Euro
Fund Inception Date Feb 27, 2009
Share Class Inception Date Feb 27, 2009
Asset Class Equity
Morningstar Category Alt - Market Neutral - Equity
Benchmark Index 3 Month Euro Libor Rate
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 1.87%
ISIN LU0414668557
Bloomberg Ticker BLEUAD4
Annual Management Fee 1.50%
Initial Charge 5.00%
Performance Fee 20.00%
SEDOL B595DS9
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 Distributing

Portfolio Characteristics

Portfolio Characteristics

3y Volatility - Benchmark as of Sep 30, 2020 0.02
3y Beta as of Sep 30, 2020 -10.659
5y Volatility - Benchmark as of Sep 30, 2020 0.03
5y Beta as of Sep 30, 2020 -17.780

Ratings

Ratings

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Sep 30, 2020
Name Weight (%)
ROYAL UNIBREW A/S 3.06
DSV PANALPINA A/S 2.83
LONZA GROUP AG 2.61
RELX PLC 2.51
NOVO NORDISK A/S 2.06
Name Weight (%)
SIKA AG 2.03
BRITISH AMERICAN TOBACCO PLC 1.71
STRAUMANN HOLDING AG 1.63
VOLVO AB 1.63
LAFARGEHOLCIM LTD 1.58
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2020

% of Market Value

Type Long Short Net
as of Sep 30, 2020

% of Market Value

Type Long Short Net
as of Sep 30, 2020

% 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
A4 EUR Annual 149.25 0.01 0.01 149.90 131.81 - LU0414668557 - -
D4 EUR Annual 153.41 0.01 0.01 154.07 135.13 - LU0827970921 - -
D2 EUR Accumulating 156.05 0.01 0.01 156.72 137.37 - LU0414666189 - -
A2 EUR Accumulating 149.29 0.00 0.00 149.95 131.86 - LU0411704413 - -
D2 Hgd GBP Accumulating 165.32 0.00 0.00 166.01 144.69 - LU0802637750 - -
D2 Hgd CHF Accumulating 151.27 0.01 0.01 151.92 133.57 - LU0748867792 - -
I2 EUR Accumulating 159.13 0.01 0.01 159.81 139.75 - LU0776931064 - -
E2 EUR Accumulating 142.57 0.01 0.01 143.21 126.20 - LU0414665884 - -

Portfolio Managers

Portfolio Managers

David Tovey
David Tovey
Stefan Gries
Stefan Gries

Literature

Literature