Equity

BSF Global Event Driven Fund

  • NAV as of 03-Oct-23 EUR 108.43
    52 WK: 106.35 - 111.98
  • 1 Day NAV Change as of 03-Oct-23 -0.29 (-0.27%)

Overview

Investment Approach


The Fund aims to achieve a positive absolute return through a combination of capital growth and income on your investment.

Under normal market conditions, the Fund will seek to gain at least 70% of its investment exposure through global equity securities (e.g. shares) and equity related securities. The Fund may also invest in fixed income (FI) securities (such as bonds), FI related securities, funds, money market instruments (MMIs) (i.e. debt securities with short-term maturities), deposits and cash.

The Fund will employ a fundamentals-based investment process focussed on identifying investments that are undergoing a sufficiently defined catalyst event (e.g. announced mergers and acquisitions).

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.

The value of your investment and the income from it will vary and your initial investment amount is not guaranteed. Overseas investments will be affected by movements in currency exchange rates.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

Performance chart data not available for display.
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Reinvestments

This product does not have any distributions data as of now.
Ex-Date Total Distribution

This chart shows the fund's performance as the percentage loss or gain per year over the last 6 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 2.5 2.0 3.7 5.7 0.6 -5.2
Comparator Benchmark 1 (%) 0.9 1.9 2.3 0.7 0.0 1.5

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

  1y 3y 5y 10y Incept.
Total Return (%) -1.78 -0.04 1.38 - 1.26
Comparator Benchmark 1 (%) 4.25 1.55 1.65 - 1.41
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 1.16 0.42 3.17 -1.12 -1.78 -0.11 7.10 - 9.84
Comparator Benchmark 1 (%) 3.13 0.45 1.31 2.47 4.25 4.72 8.55 - 11.05
  From
30-Jun-2018
To
30-Jun-2019		 From
30-Jun-2019
To
30-Jun-2020		 From
30-Jun-2020
To
30-Jun-2021		 From
30-Jun-2021
To
30-Jun-2022		 From
30-Jun-2022
To
30-Jun-2023
Total Return (%)

as of 30-Jun-23

3.18 1.58 8.03 -7.02 0.18
Comparator Benchmark 1 (%)

as of 30-Jun-23

2.31 1.63 0.09 0.17 3.59

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 USD.

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 of Fund as of 03-Oct-23 USD 2,879,463,098
Inception Date 09-Mar-16
Fund Launch Date 04-Aug-15
Share Class Currency EUR
Base Currency USD
Asset Class Equity
Comparator Benchmark 1 ICE BofA 3-MO US Treasury Bill (G0O1)
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.86%
ISIN LU1376384878
Annual Management Fee 1.50%
Performance Fee 20.00%
Minimum Initial Investment EUR 5,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Event Driven
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSGA2RE
SEDOL BYQ71X2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Aug-23 273
Standard Deviation (3y) as of 31-Aug-23 4.65%
3y Beta as of 31-Aug-23 -0.356
P/E Ratio as of 31-Aug-23 15.44
P/B Ratio as of 31-Aug-23 2.76

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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 31-Aug-23 0.03%
MSCI - UN Global Compact Violators as of 31-Aug-23 1.16%
MSCI - Nuclear Weapons as of 31-Aug-23 0.03%
MSCI - Thermal Coal as of 31-Aug-23 0.00%
MSCI - Civilian Firearms as of 31-Aug-23 0.25%
MSCI - Oil Sands as of 31-Aug-23 0.00%
MSCI - Tobacco as of 31-Aug-23 0.64%
Business Involvement Coverage as of 31-Aug-23 60.13%
Percentage of Fund not covered as of 31-Aug-23 11.03%
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 0.00% and for Oil Sands 0.56%.

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 evaluates the fundamental and strategic aspects of securities in which the Fund may invest. This may include a detailed, comprehensive review and analysis of all aspects of the company, including ESG policies, when evaluating opportunities. The Fund manager's deep due diligence informs a holistic perspective on a given issuer and may impact the investment decision. Additionally, on a regular basis the Fund manager conducts portfolio risk reviews between the investment team and BlackRock’s Risk and Quantitative Analysis group. 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, where appropriate.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31-Aug-23
Name Weight (%)
ACTIVISION BLIZZARD INC 7.03
BLACK KNIGHT INC 4.89
HORIZON THERAPEUTICS PLC 4.84
SEAGEN INC 3.91
HOWMET AEROSPACE INC 2.84
Name Weight (%)
COTY INC 2.53
CAESARS ENTERTAINMENT INC 2.41
TOSHIBA CORPORATION 2.38
NATIONAL INSTRUMENTS CORPORATION 2.37
DECHRA PHARMACEUTICALS PLC 1.98
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Aug-23

% of Market Value

Type Fund
as of 31-Aug-23

% of Market Value

Type Fund
as of 31-Aug-23

% of Market Value

Type Fund
as of 31-Aug-23

% 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

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A2 Hedged EUR None 108.43 -0.29 -0.27 03-Oct-23 111.98 106.35 LU1376384878
Class Z2 Hedged GBP None 130.52 -0.35 -0.27 03-Oct-23 132.68 126.84 LU1288049866
Class IA2 USD - 119.85 -0.30 -0.25 03-Oct-23 121.20 114.94 LU1921562119
Class I5 USD Quarterly 125.33 -0.32 -0.25 03-Oct-23 126.82 120.77 LU1603214153
Class I2 Hedged EUR None 115.59 -0.31 -0.27 03-Oct-23 118.73 113.03 LU1382784764
Class IA2 Hedged EUR - 103.89 -0.28 -0.27 03-Oct-23 106.37 101.40 LU2125116769
Class I2 Hedged JPY - 10,816.90 -30.50 -0.28 03-Oct-23 11,371.17 10,711.56 LU1781817421
Class D2 Hedged EUR None 112.92 -0.30 -0.26 03-Oct-23 116.23 110.55 LU1373035077
Class D2 Hedged GBP None 120.18 -0.32 -0.27 03-Oct-23 122.57 117.01 LU1373034930
Class Z2 Hedged CHF None 117.30 -0.32 -0.27 03-Oct-23 121.84 115.48 LU1341466644
Class AI2 EUR - 100.66 -0.27 -0.27 03-Oct-23 103.94 98.73 LU2103007592
Class D2 Hedged CHF None 110.00 -0.31 -0.28 03-Oct-23 114.64 108.48 LU1387771113
Class I2 Hedged CHF None 106.73 -0.29 -0.27 03-Oct-23 111.01 105.14 LU1603214401
Class A2 Hedged CHF None 106.51 -0.30 -0.28 03-Oct-23 111.37 105.23 LU1400751324
Class Z2 USD None 140.88 -0.36 -0.25 03-Oct-23 142.50 135.49 LU1258025839
Class S2 Hedged EUR - 103.32 -0.28 -0.27 03-Oct-23 106.12 101.03 LU1706559405
Class E2 EUR None 136.74 0.42 0.31 03-Oct-23 145.12 128.25 LU1278928657
Class E2 Hedged EUR None 107.48 -0.30 -0.28 03-Oct-23 111.37 105.61 LU1278928574
Class A2 Hedged SGD None 105.01 -0.28 -0.27 03-Oct-23 107.95 102.82 LU2114397859
Class A2 USD None 128.93 -0.34 -0.26 03-Oct-23 131.16 125.21 LU1251620883
Class D2 USD None 133.37 -0.34 -0.25 03-Oct-23 135.22 128.89 LU1251621188
Class A2 Hedged HKD None 1,049.68 -2.78 -0.26 03-Oct-23 1,078.33 1,025.10 LU2114397776
Class X2 USD None 157.48 -0.40 -0.25 03-Oct-23 159.18 150.31 LU1264793958
Class D4 Hedged GBP - 103.43 -0.28 -0.27 03-Oct-23 105.49 100.71 LU2215606471
Class I4 Hedged EUR - 110.88 -0.30 -0.27 03-Oct-23 113.86 108.43 LU1817852764
Class I2 BRL Hedged (USD) USD - 104.93 -0.50 -0.47 03-Oct-23 112.01 89.83 LU2008661006
Class X2 Hedged AUD - 100.16 -0.26 -0.26 03-Oct-23 101.37 99.66 LU2649166159
Class I2 USD None 124.07 -0.32 -0.26 03-Oct-23 125.55 119.57 LU1251621345
Class A4 Hedged EUR Quarterly 104.07 -0.29 -0.28 03-Oct-23 107.48 102.08 LU1697783881
Class S2 USD - 109.86 -0.28 -0.25 03-Oct-23 111.16 105.86 LU2099035045
Class Z2 Hedged EUR None 121.81 -0.32 -0.26 03-Oct-23 124.94 119.02 LU1288049940
Class I5 Hedged GBP Quarterly 116.67 -0.31 -0.27 03-Oct-23 118.76 113.47 LU1603215044

Portfolio Managers

Portfolio Managers

Mark McKenna
Mark McKenna

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 : 5 years
Example Investment EUR 10,000
Scenario
If you exit after 1 year
If you exit after 5 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
8,100 EUR
-19.0%
6,840 EUR
-7.3%

Unfavourable

What you might get back after costs
Average return each year
8,830 EUR
-11.7%
8,900 EUR
-2.3%

Moderate

What you might get back after costs
Average return each year
9,470 EUR
-5.3%
10,170 EUR
0.3%

Favourable

What you might get back after costs
Average return each year
10,890 EUR
8.9%
11,380 EUR
2.6%

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



Literature

Literature