Equity

BlackRock European Special Situations Fund

IMPORTANT:
• The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund may invest in assets denominated in various currencies. Changes in exchange rates and currency controls may affect the value of the Fund's assets. The Fund's investments are concentrated in Europe. This may result in greater volatility than more broad-based investments.
• The Fund is subject to emerging market risk, foreign investments restrictions risk, smaller companies’ volatility and liquidity risks, contingent convertible bonds risk and currency conversion risk including Renminbi denominated Classes.
• The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
• The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
• Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.

Overview

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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

Performance

Performance

Chart

Performance chart data not available for display.
View Charts & Calendar Year Performance
  1y 3y 5y 10y Incept.
10.02 7.08 8.06 11.10 8.67
Benchmark (%)

as of 30-Sep-2020

-7.76 -0.34 3.21 6.02 3.95
  YTD 6m 1y 3y 5y 10y Incept.
1.22 24.27 10.02 22.78 47.34 186.45 230.00
Benchmark (%)

as of 30-Sep-2020

-12.75 12.71 -7.76 -1.03 17.14 79.50 74.43
Past performance is not a guide to future performance. Investors may not get back the full amount invested.

Performance is calculated based on the period NAV-to-NAV with dividend reinvested. Performance figures are calculated net of fees.

These figures show by how much the Share Class of the Fund increased or decreased in value during the period being shown. Performance is calculated in the relevant share class currency, including ongoing charges and taxes and excluding subscription and redemption fees, if applicable.

Where no past performance is shown there was insufficient data available in that period to provide performance.

Please refer to the Key Facts section for the inception date of the Fund and the Share Class.

Key Facts

Key Facts

Size of Fund (Millions) as of 21-Oct-2020 EUR 1,246.647 M
Base Currency EUR
Fund Inception 20-Mar-2003
Share Class Currency EUR
Share Class Inception Date 19-May-2006
Additional Currencies AUD, CAD, GBP, HKD, RMB, USD
Asset Class Equity
Morningstar Category Europe Large-Cap Growth Equity
Benchmark Index MSCI Europe Index
Distribution Frequency Non-Distributing
ISIN LU0252965834
Bloomberg Ticker MEREGDE
Management Fee (incl Distribution Fee, if any) 0.75%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 30-Sep-2020 26.90
Average Market Cap (Millions) as of 30-Sep-2020 EUR 49,418.4 M
Modified Duration as of 30-Sep-2020 0.00 yrs
12M Trailing Distribution as of - -
3y Volatility as of 30-Sep-2020 15.09
3y Volatility - Benchmark as of 30-Sep-2020 14.58
3y Beta as of 30-Sep-2020 0.965
5yr Volatility as of 30-Sep-2020 14.08
5y Volatility - Benchmark as of 30-Sep-2020 13.42
5y Beta as of 30-Sep-2020 0.958
Since Class Inception – Volatility as of 30-Sep-2020 14.54
Since Class Inception Volatility – Benchmark as of 30-Sep-2020 13.64
Since Class Inception - Beta as of 30-Sep-2020 1.00

Ratings

Ratings

Morningstar Rating

4
As of 30-Sep-2020

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Effective 05-Jul-2019
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Sep-2020
Name Weight (%)
ASML HOLDING NV 5.08
SAP SE 4.69
NOVO NORDISK A/S 3.54
DSV PANALPINA A/S 3.41
LVMH MOET HENNESSY LOUIS VUITTON SE 3.17
Name Weight (%)
LONZA GROUP AG 3.10
LONDON STOCK EXCHANGE GROUP PLC 3.03
FERRARI NV 2.69
SIKA AG 2.69
UNILEVER PLC 2.55
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.
Holdings subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-2020

% of Weight

Type Fund Benchmark Net
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the geography where the issuer of the securities carries out much of their business. “Others” excluded from the chart above.
as of 30-Sep-2020

% of Weight

Type Fund Benchmark Net
as of 30-Sep-2020

% of Weight

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Sep-2020

% of Weight

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.
Due to rounding, the total may not be equal to 100%

Pricing

Pricing

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
D2 EUR Non-Distributing 58.25 -0.44 -0.75 21-Oct-2020 59.05 38.75 LU0252965834
C2 EUR Non-Distributing 42.20 -0.32 -0.75 21-Oct-2020 43.36 28.40 LU0331283803
A2 Hedged GBP Non-Distributing 17.22 -0.13 -0.75 21-Oct-2020 17.74 11.50 LU1023063255
C2 USD Non-Distributing 50.06 -0.20 -0.40 21-Oct-2020 50.31 30.88 LU0331283985
A2 USD Non-Distributing 61.86 -0.25 -0.40 21-Oct-2020 62.16 37.88 LU0171276677
A2 Hedged RMB Non-Distributing 426.72 -3.05 -0.71 21-Oct-2020 431.84 282.47 LU1244156169
D2 USD Non-Distributing 69.09 -0.28 -0.40 21-Oct-2020 69.42 42.12 LU0827879171
D2 Hedged USD Non-Distributing 19.59 -0.14 -0.71 21-Oct-2020 19.84 12.94 LU1078072763
A2 Hedged HKD Non-Distributing 135.49 -1.02 -0.75 21-Oct-2020 137.28 89.89 LU1355424745
A2 Hedged AUD Non-Distributing 18.87 -0.15 -0.79 21-Oct-2020 19.62 12.64 LU1023062109
A2 EUR Non-Distributing 52.16 -0.39 -0.74 21-Oct-2020 53.14 34.85 LU0154234636
A2 Hedged CAD Non-Distributing 18.20 -0.14 -0.76 21-Oct-2020 18.66 12.13 LU1023062521
A2 Hedged USD Non-Distributing 20.68 -0.16 -0.77 21-Oct-2020 20.95 13.72 LU0969580561

Portfolio Managers

Portfolio Managers

Michael Constantis
Michael Constantis

Documents

Documents