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BSF Fixed Income Strategies Fund
BLACKROCK LUXEMBOURG UCITS FUNDS SHAREHOLDER NOTIFICATION.
Please see the shareholder letter for more information.
Please see the shareholder letter for more information.
BLACKROCK LUXEMBOURG UCITS FUNDS SHAREHOLDER NOTIFICATION.
Please see the shareholder letter for more information.
Please see the shareholder letter for more information.
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.
Performance
Performance
-
Returns
| From 30-Jun-2015 To 30-Jun-2016 |
From 30-Jun-2016 To 30-Jun-2017 |
From 30-Jun-2017 To 30-Jun-2018 |
From 30-Jun-2018 To 30-Jun-2019 |
From 30-Jun-2019 To 30-Jun-2020 |
|
|---|---|---|---|---|---|
|
Total Return (%)
Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.
as of 30-Jun-20 |
-0.62 | 2.00 | -1.21 | -1.11 | 0.18 |
| 1y | 3y | 5y | 10y | Incept. | |
|---|---|---|---|---|---|
|
Total Return (%)
Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.
as of 31-Jul-20 |
0.74 | -0.39 | -0.06 | 1.33 | 1.31 |
Missing average annual returns data
| YTD | 1m | 3m | 1y | 3y | 5y | 10y | Incept. | |
|---|---|---|---|---|---|---|---|---|
|
Total Return (%)
Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.
as of 31-Jul-20 |
0.53 | 1.13 | 3.54 | 0.74 | -1.18 | -0.30 | 14.12 | 14.38 |
Missing cumulative returns data
The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
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
Chart
Performance chart data not available for display.
Reinvestments
This product does not have any distributions data as of now.
Key Facts
Key Facts
Size of Fund (Millions)
as of 11-Aug-20
EUR 5,893.335
Base Currency
EUR
Fund Launch Date
30-Sep-09
Inception Date
03-Apr-10
Asset Class
Fixed Income
Morningstar Category
Alt - Long/Short Credit
Domicile
Luxembourg
Regulatory Structure
UCITS
Management Company
BlackRock (Luxembourg) S.A.
ISIN
LU0438336694
Bloomberg Ticker
BRFXIE2
Initial Charge
3.00%
Performance Fee
0.00%
SEDOL
B3LYJ37
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
Accumulating
Portfolio Characteristics
Portfolio Characteristics
Weighted Average YTM
Yield to Maturity (YTM) is the discount rate that equates the present value of a bond's cash flows with its market price (including accrued interest). The Fund Average YTM is the weighted average of the fund's individual bond holding YTMs based upon Net Asset Value ('NAV'). The measure does not include fees and expenses.
as of 31-Jul-20
0.83%
Weighted Avg Maturity
Bond's maturity is the length of time until the date when the principal amount of a bond is to be repaid. Weighted Avg. Maturity, WAM, is used to calculate the maturity of a basket of bonds (fund) and is calculated as the average of the underlying bonds' maturities weighted by the bonds' weight in the fund.
as of 31-Jul-20
8.26
WAL to Worst
The weighted average time to receipt of principal, adjusting for embedding optionality.
as of 31-Jul-20
8.26
Sustainability Characteristics
Sustainability Characteristics
Sustainability Characteristics can help investors integrate non-financial, material sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.
The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI Fund Ratings and, unless otherwise stated in Fund documentation and included within a Fund’s investment objective, ESG integration does not change a Fund’s investment objective or constrain the Investment Manager’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 Sustainability Characteristics, using links below.
MSCI ESG Fund Rating (AAA-CCC)
The MSCI ESG Rating is calculated as a direct mapping of ESG Quality Scores to letter rating categories (e.g. AAA = 8.6-10). The ESG Ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC). For further details regarding MSCI's methodology, see footnote 1 at the bottom of the page.
as of 09-Jul-20
A
MSCI ESG Quality Score - Peer Percentile
The fund’s ESG Percentile compared to its Lipper peer group.
as of 09-Jul-20
64.00
MSCI ESG % Coverage
Percentage of a fund's holdings that have MSCI ESG ratings data. For further details regarding MSCI’s methodology, see footnote 1 at the bottom of the page.
as of 09-Jul-20
82.02
Fund Lipper Global Classification
The fund peer group as defined by the Lipper Global Classification.
as of 09-Jul-20
Alternative Credit Focus
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
The MSCI Weighted Average Carbon Intensity measures a fund's exposure to carbon intensive companies. This figure represents the estimated greenhouse gas emissions per $1 million in sales across the fund’s holdings. This allows for comparisons between funds of different sizes. For further details regarding MSCI's methodology, see footnote 2 at the bottom of the page.
as of 09-Jul-20
158.76
Funds in Peer Group
The number of funds from the relevant Lipper Global Classification peer group that are also in ESG coverage
as of 09-Jul-20
75
All data is from MSCI ESG Fund Ratings as of 09-Jul-20, based on holdings as of 30-Nov-19. As such, the funds sustainable characteristics may differ from MSCI ESG ratings from time to time.
To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, 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.
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.
Transparency on Business Involvement metrics is not indicative of a fund’s investment objective, and, unless otherwise stated in Fund documentation and included within a Fund’s investment objective, ESG integration does not change a Fund’s investment objective or constrain the Investment Manager’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
Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as having controversial weapons involvement including Cluster Munitions, Landmines, Depleted Uranium, Biological & Chemical, and non detectable fragments. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page.
as of 31-Jul-20
0.00%
MSCI - UN Global Compact Violators
Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as failing to comply with the United Nations Global Compact Principles. For further details regarding MSCI’s methodology, see footnote 5 at the bottom of the page.
as of 31-Jul-20
1.05%
MSCI - Nuclear Weapons
Percentage sum of issuers within the fund that have been identified by MSCI ESG research as manufacturing nuclear weapons. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page.
as of 31-Jul-20
0.00%
MSCI - Thermal Coal
Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as earning >5% of total revenue from thermal coal production. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page.
as of 31-Jul-20
0.00%
MSCI - Civilian Firearms
Percentage sum of issuers within the fund that have been identified as producing firearms and small arms ammunitions for civilian markets. For further details regarding MSCI's methodology, see footnote 4 at the bottom of the page.
as of 31-Jul-20
0.00%
Business Involvement metrics are calculated using MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this research 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.
Risk Indicator
Risk Indicator
1
2
3
4
5
6
7
Low Risk
High Risk
Typically low rewards
Typically high rewards
Ratings
Holdings
Holdings
as of 31-Jul-20
| Name | Weight (%) |
|---|---|
| ITALY (REPUBLIC OF) | 7.48 |
| SPAIN (KINGDOM OF) | 4.01 |
| CYPRUS (REPUBLIC OF) | 3.96 |
| PORTUGAL (REPUBLIC OF) | 3.74 |
| JAPAN (GOVERNMENT OF) | 3.16 |
| Name | Weight (%) |
|---|---|
| NEW ZEALAND (GOVERNMENT OF) | 2.32 |
| INDIA (REPUBLIC OF) | 1.58 |
| GREECE REPUBLIC OF (GOVERNMENT) | 1.43 |
| CHINA PEOPLES REPUBLIC OF (GOVERNMENT) | 1.32 |
| UNICREDIT SPA | 1.27 |
Holdings subject to change
Exposure Breakdowns
Exposure Breakdowns
as of 31-Jul-20
% of Market Value
as of 31-Jul-20
% of Market Value
as of 31-Jul-20
% of Market Value
Allocations subject to change.
as of 31-Jul-20
% of Market Value
as of 31-Jul-20
% of Market Value
as of 31-Jul-20
% of Market Value
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class E2 | EUR | None | 116.15 | 0.17 | 0.15 | 116.15 | 106.77 | - | LU0438336694 | - | - |
| Class D2 Hedged | CHF | None | 104.84 | 0.15 | 0.14 | 104.84 | 96.13 | - | LU1090193647 | - | - |
| Class A2 | EUR | None | 122.44 | 0.18 | 0.15 | 122.44 | 112.27 | - | LU0438336264 | - | - |
| Class A2 Hedged | CHF | None | 103.07 | 0.15 | 0.15 | 103.07 | 94.63 | - | LU0589446532 | - | - |
| Class D4 | EUR | Annual | 105.73 | 0.15 | 0.14 | 105.73 | 97.06 | - | LU1090193134 | - | - |
| Class X2 | EUR | None | 136.93 | 0.20 | 0.15 | 136.93 | 125.00 | - | LU0544632515 | - | - |
| Class D2 Hedged | USD | None | 119.35 | 0.18 | 0.15 | 119.35 | 108.85 | - | LU1090194454 | - | - |
| Class D2 | EUR | None | 127.70 | 0.19 | 0.15 | 127.70 | 116.97 | - | LU0438336421 | - | - |
| Class I5 | EUR | Quarterly | 124.91 | 0.18 | 0.14 | 124.91 | 114.38 | - | LU1129992720 | - | - |
| Class A2 Hedged | JPY | - | 10,297.06 | 15.38 | 0.15 | 10,297.06 | 9,442.61 | - | LU1948809105 | - | - |
| Class D5 Hedged | GBP | Quarterly | 110.40 | 0.15 | 0.14 | 110.40 | 100.90 | - | LU1117534666 | - | - |
| Class A4 Hedged | CHF | Annual | 102.77 | 0.14 | 0.14 | 102.77 | 94.33 | - | LU1046547201 | - | - |
| Class A4 Hedged | USD | Annual | 117.14 | 0.17 | 0.15 | 117.14 | 107.01 | - | LU1046548191 | - | - |
| Class D3 Hedged | USD | Monthly | 115.61 | 0.18 | 0.16 | 115.61 | 105.44 | - | LU1193909402 | - | - |
| Class X4 | EUR | Annual | 103.85 | 0.15 | 0.14 | 103.85 | 95.76 | - | LU1260044430 | - | - |
| Class D2 Hedged | GBP | None | 112.66 | 0.16 | 0.14 | 112.66 | 102.79 | - | LU1117534401 | - | - |
| Class AI2 | EUR | - | 101.92 | 0.15 | 0.15 | 101.92 | 93.47 | - | LU2008562287 | - | - |
| Class I2 Hedged | USD | None | 109.35 | 0.16 | 0.15 | 109.35 | 99.68 | - | LU1728038651 | - | - |
| Class A2 Hedged | GBP | None | 107.65 | 0.16 | 0.15 | 107.65 | 98.46 | - | LU1200840038 | - | - |
| Class A4 | EUR | Annual | 106.61 | 0.15 | 0.14 | 106.61 | 97.78 | - | LU1040967272 | - | - |
| Class I2 | EUR | None | 128.61 | 0.19 | 0.15 | 128.61 | 117.69 | - | LU0438336777 | - | - |
| Class A2 Hedged | USD | None | 117.55 | 0.17 | 0.14 | 117.55 | 107.39 | - | LU1046547540 | - | - |
Portfolio Managers
Portfolio Managers
Tom Mondelaers
Johan Sjogren
Literature
Literature
Important Information
Review the MSCI methodology behind the Sustainability Characteristics and Business Involvement metrics: 1ESG Ratings; 2Index Carbon Footprint Metrics; 3Business Involvement Screening Research; 4ESG Screened Index Methodology; 5ESG Controversies
The above Sustainability Characteristics and Business Involvement metrics are not to be taken as an exhaustive list of the controversial areas of interest and are part of an extensive set of MSCI ESG metrics. There may be corporate actions or other situations that may cause the Fund or Index to passively hold securities that may not comply with MSCI ESG criteria. Please refer to the Fund’s prospectus for more information. The screening applied by MSCI may include revenue thresholds set by MSCI. The information displayed above may not include all of the screens that apply to the relevant index or the relevant Fund. These screens are described in more detail in the Fund’s prospectus, KIID and the relevant index methodology.
Certain information contained herein (the “Information”) has been provided by MSCI ESG Research LLC, a RIA under the Investment Advisers Act of 1940, and may include data from its affiliates (including MSCI Inc. and its subsidiaries (“MSCI”)), or third party suppliers (each an “Information Provider”), and it may not be reproduced or redisseminated in whole or in part without prior written permission. The Information has not been submitted to, nor received approval from, the US SEC or any other regulatory body. The Information may not be used to create any derivative works, or in connection with, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund’s assets under management or other measures. MSCI has established an information barrier between equity index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. Neither MSCI ESG Research nor any Information Party makes any representations or express or implied warranties (which are expressly disclaimed), nor shall they incur liability for any errors or omissions in the Information, or for any damages related thereto. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited.
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 fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. The fund invests in high yielding bonds. Companies who issue higher yield bonds typically have an increased risk of defaulting on repayments. In the event of default, the value of your investment may reduce. Economic conditions and interest rate levels may also impact significantly the values of high yield bonds. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets. Derivatives may be used substantially for complex investment strategies. These include the creation of short positions where the Investment Manager artificially sells an investment it does not physically own. Derivatives can also be used to generate exposure to investments greater than the net asset value of the fund / investment trust. Investment Managers refer to this practice as obtaining market leverage or gearing. As a result, a small positive or negative movement in stockmarkets will have a larger impact on the value of these derivatives than owning the physical investments. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Funds.
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. BlackRock Strategic Funds (BSF) is an open-ended investment company established in Luxembourg which is available for sale in certain jurisdictions only. BlackRock have not considered the suitability of this investment against your individual needs and risk tolerance. To ensure you understand whether our product is suitable, please read the Key Investor Information Document. We strongly recommend you seek independent professional advice prior to investing. If, after reading this factsheet, you have any questions or would like any additional information please contact your Financial Adviser or speak to our Investor Services Team on 0800 445522. BSF is not available for sale in the U.S. or to U.S. persons. Product information concerning BSF should not be published in the U.S. BlackRock Investment Management (UK) Limited is the principal distributor of BSF. Subscriptions in BSF are valid only if made on the basis of the current Prospectus, the most recent financial reports and the Key Investor Information Document, which are available on our website. Prospectuses, Key Investor Information Documents and application forms may not be available to investors in certain jurisdictions where the Fund in question has not been authorised. Issued by BlackRock Investment Management (UK) Limited (authorised and regulated by the Financial Conduct Authority). Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Registered in England No. 2020394. Tel: 020 7743 3000. For your protection, telephone calls are usually recorded. BlackRock is a trading name of BlackRock Investment Management (UK) Limited. When this document is issued in the EEA, it is issued by BlackRock (Netherlands) B.V.: Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Trade Register No. 17068311. For more information, please see the website: www.blackrock.com. For your protection telephone calls are usually recorded. BlackRock is a trading name of BlackRock (Netherlands) B.V..© Current year BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, iSHARES, BUILD ON BLACKROCK, SO WHAT DO I DO WITH MY MONEY and the stylized i logo are registered and unregistered trademarks of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners. © Current year Morningstar. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not constitute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete, or accurate. Morningstar shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use.
