Fixed Income

BlackRock Euro Credit Enhanced Index 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

Chart

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Distributions

Ex-Date Total Distribution
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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) 11,3 2,4 8,6 0,4 3,8 1,7 -0,4 5,5 3,3 -1,7
Target Benchmark 1 (%) 8,2 0,1 3,4 1,1 -0,2 5,0 2,8 -1,9

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

  1y 3y 5y 10y Incept.
-16,69 -5,39 -2,29 0,61 2,64
Target Benchmark 1 (%) - - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-16,27 0,00 -3,43 -6,80 -16,69 -15,32 -10,96 6,22 51,20
Target Benchmark 1 (%) - 2,37 - - - - - - -
  From
30.09.2017
To
30.09.2018
From
30.09.2018
To
30.09.2019
From
30.09.2019
To
30.09.2020
From
30.09.2020
To
30.09.2021
From
30.09.2021
To
30.09.2022
Total Return (%)

as of 30.09.2022

0,14 6,78 0,58 0,34 -16,88
Target Benchmark 1 (%)

as of 30.09.2022

0,08 6,56 0,21 0,01 -

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 EUR, hedged share class benchmark performance is displayed in EUR.

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 as of 31.10.2022 EUR 11 563 647
Net Assets of Fund as of 27.03.2024 EUR 1 305 388 460
Share Class launch date 01.12.2005
Fund Launch Date 30.06.2003
Share Class Currency EUR
Fund Base Currency EUR
Asset Class Fixed Income
Target Benchmark 1 FTSE EuroBIG ex Domestic Treasury Index (EUR)
SFDR Classification Other
Initial Charge 0,00%
Ongoing Charges Figures 0,02%
ISIN IE00B1JC0J29
Annual Management Fee 0,00%
Performance Fee 0,00%
Minimum Initial Investment EUR 250000
Minimum Subsequent Investment -
Use of Income Distributing
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Morningstar Category EUR Corporate Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGIEUEH
SEDOL B1JC0J2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 29.02.2024 614
12 Month Trailing Dividend Distribution Yield as of 31.07.2023 0,69
Standard Deviation (3y) as of 30.11.2022 6,45%
3y Beta as of 30.11.2022 1,000
Yield to Maturity as of 29.02.2024 3,74
Modified Duration as of 29.02.2024 5,22
Weighted Average YTM as of 29.02.2024 3,71%
Effective Duration as of 29.02.2024 5,27
Weighted Avg Maturity as of 29.02.2024 6,01
WAL to Worst as of 29.02.2024 6,01

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 21.03.2024 AA
MSCI ESG % Coverage as of 21.03.2024 96,50
MSCI ESG Quality Score (0-10) as of 21.03.2024 7,52
MSCI ESG Quality Score - Peer Percentile as of 21.11.2022 25,68
Fund Lipper Global Classification as of 21.11.2022 Bond EUR Corporates
Funds in Peer Group as of 21.11.2022 292
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21.03.2024 68,79
MSCI Weighted Average Carbon Intensity % Coverage as of 21.03.2024 79,77
All data is from MSCI ESG Fund Ratings as of 21.03.2024, based on holdings as of 30.11.2023. 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 29.02.2024 0,00%
MSCI - UN Global Compact Violators as of 29.02.2024 0,63%
MSCI - Nuclear Weapons as of 29.02.2024 0,32%
MSCI - Thermal Coal as of 29.02.2024 0,53%
MSCI - Civilian Firearms as of 29.02.2024 0,00%
MSCI - Oil Sands as of 29.02.2024 0,00%
MSCI - Tobacco as of 29.02.2024 1,55%

Business Involvement Coverage as of 29.02.2024 77,68%
Percentage of Fund not covered as of 29.02.2024 22,32%
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 0,74% and for Oil Sands 0,23%.

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 and due diligence stage of the investment process. The Fund manager has developed internal research signals to help evaluate corporate issuers on climate, governance and human capital issues. ESG information may be sourced from both internal and external sources. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. 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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BlackRock Euro Credit Enhanced Index Fund, Flex, as of 31.10.2022 rated against 1268 EUR Corporate Bond Funds.

Holdings

Holdings

as of 29.02.2024
Name Weight (%)
ISH CORE EURO CORP BND ETF EUR DIS 2,28
SAGE GROUP PLC MTN RegS 3.82 02/15/2028 0,86
EUROPEAN UNION MTN RegS 3.75 04/04/2042 0,86
EUROPEAN INVESTMENT BANK MTN RegS 2.75 09/15/2025 0,78
KFW MTN RegS 0 09/30/2026 0,72
Name Weight (%)
CRH SMW FINANCE DAC MTN RegS 4.25 07/11/2035 0,71
A1 TOWERS HOLDING GMBH RegS 5.25 07/13/2028 0,69
SMITHS GROUP PLC MTN RegS 2 02/23/2027 0,69
CAISSE AMORTISSEMENT DE LA DETTE S MTN RegS 0 02/25/2028 0,69
EUROPEAN FINANCIAL STABILITY FACIL MTN RegS 3 12/15/2028 0,63
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29.02.2024

% of Market Value

Type Fund Benchmark Net
as of 29.02.2024

% of Market Value

Type Fund Benchmark Net
as of 29.02.2024

% of Market Value

Type Fund Benchmark Net
as of 29.02.2024

% of Market Value

Type Fund Benchmark 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Flex EUR 10,74 -0,03 -0,27 31.10.2022 13,05 10,57 IE00B1JC0J29
Flex EUR 18,01 0,05 0,29 27.03.2024 18,04 16,86 GB0033157560
Inst EUR 9,42 0,03 0,29 27.03.2024 9,53 8,91 IE00B8138T89

Portfolio Managers

Portfolio Managers

Riyadh Ali
Riyadh Ali
Alessandro Ferrante
Alessandro Ferrante
Group SFI LO EMEA
Group SFI LO EMEA

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 3 years
Example Investment EUR 10 000
Scenario
If you exit after 1 year
If you exit after 3 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
8 190 EUR
-18,1%
7 760 EUR
-8,1%

Unfavourable

What you might get back after costs
Average return each year
8 190 EUR
-18,1%
8 200 EUR
-6,4%

Moderate

What you might get back after costs
Average return each year
10 130 EUR
1,3%
10 590 EUR
1,9%

Favourable

What you might get back after costs
Average return each year
10 810 EUR
8,1%
11 130 EUR
3,6%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature

 
Please access the document library in order to find the KID/KIID in local language.