Real Estate

BSF Global Real Asset Securities 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.

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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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This chart shows the fund's performance as the percentage loss or gain per year over the last 1 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2017 2018 2019 2020 2021
Total Return (%) 12.1
Constraint Benchmark 1 (%) 13.8
  1y 3y 5y 10y Incept.
-20.69 - - - -2.28
Constraint Benchmark 1 (%) -11.99 - - - -2.69
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-20.38 -5.57 -10.75 -15.76 -20.69 - - - -5.91
Constraint Benchmark 1 (%) -13.20 -4.98 -8.25 -8.82 -11.99 - - - -6.94
  From
30-Jun-2017
To
30-Jun-2018
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
Total Return (%)

as of 30-Jun-22

- - - 28.67 -17.84
Constraint Benchmark 1 (%)

as of 30-Jun-22

- - - 24.17 -8.56

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 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 29-Sep-22 USD 735,206,617
Inception Date 08-Jan-20
Fund Launch Date 30-Nov-17
Share Class Currency EUR
Base Currency USD
Asset Class Real Estate
Constraint Benchmark 1 FTSE Custom Dev Core Infrast 50/50 EPRA Nareit Dev Dividend+ NET Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.53%
Annual Management Fee 1.20%
Performance Fee 0.00%
Minimum Initial Investment EUR 5,000.00
Minimum Subsequent Investment EUR 1,000.00
Distribution Frequency -
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Other Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BLRAA3E
ISIN LU2099546561
SEDOL BJ32X40

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Aug-22 54
12m Trailing Yield as of 31-Aug-22 10.60
Standard Deviation (3y) as of - -
3y Beta as of - -
P/CF Ratio as of 31-Aug-22 12.66
P/B Ratio as of 31-Aug-22 1.48

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-Sep-22 AA
MSCI ESG % Coverage as of 21-Sep-22 94.50
MSCI ESG Quality Score (0-10) as of 21-Sep-22 7.29
MSCI ESG Quality Score - Peer Percentile as of 21-Sep-22 73.21
Fund Lipper Global Classification as of 21-Sep-22 Equity Sector Real Est Global
Funds in Peer Group as of 21-Sep-22 377
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Sep-22 232.53
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Sep-22 88.93
All data is from MSCI ESG Fund Ratings as of 21-Sep-22, based on holdings as of 31-May-22. 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% 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. 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.


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-22 0.00%
MSCI - UN Global Compact Violators as of 31-Aug-22 0.00%
MSCI - Nuclear Weapons as of 31-Aug-22 0.00%
MSCI - Thermal Coal as of 31-Aug-22 0.00%
MSCI - Civilian Firearms as of 31-Aug-22 0.00%
MSCI - Oil Sands as of 31-Aug-22 0.00%
MSCI - Tobacco as of 31-Aug-22 0.00%

Business Involvement Coverage as of 31-Aug-22 99.70%
Percentage of Fund not covered as of 31-Aug-22 1.05%
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 0.00%.

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 material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in the initial screening, sourcing and due diligence phases of the investment process. This may include the use of internal ESG due diligence templates to identify, analyze and document key ESG risks, and the use of thematic environmental, social and governance information sourced from both primary sources and third-party data providers. Identified material ESG risks are included in Investment Committee material and, where appropriate, discussed at relevant Investment Committee meetings. This information broadly informs the investment approach and may be considered in investment decisions or security selection. The Fund manager also considers ESG criteria during post-investment monitoring and conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks.

Risk Indicator

Risk Indicator

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3
4
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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31-Aug-22
Name Weight (%)
CLP HOLDINGS LTD 4.80
ENEL 4.04
VONOVIA SE 3.62
SEVERN TRENT PLC 3.44
NEXTDC LTD 3.11
Name Weight (%)
NATIONAL STORAGE REIT STAPLED UNIT 3.03
CELLNEX TELECOM SA 3.01
UDR REIT INC 3.00
ALEXANDRIA REAL ESTATE EQUITIES RE 2.98
EDP ENERGIAS DE PORTUGAL SA 2.92
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Aug-22

% of Market Value

Type Fund Benchmark Net
as of 31-Aug-22

% of Market Value

Type Fund Benchmark Net
as of 31-Aug-22

% of Market Value

Type Fund Benchmark Net
as of 31-Aug-22

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class A3 Hedged EUR - 62.73 0.20 0.32 29-Sep-22 101.53 62.53 LU2099546561 -
Class A3 Hedged HKD Monthly 66.34 0.21 0.32 29-Sep-22 104.76 66.13 LU2070343715 -
Class D3 GBP Monthly 89.18 -2.23 -2.44 29-Sep-22 101.53 89.18 LU2508726747 -
Class A3 Hedged CNH - 696.35 2.39 0.34 29-Sep-22 1,033.74 693.96 LU2451793678 -
Class D3 Hedged SGD - 64.13 0.22 0.34 29-Sep-22 100.83 63.91 LU2364470067 -
Class A5 Hedged CHF - 64.68 0.21 0.33 29-Sep-22 102.33 64.47 LU2412548872 -
Class S5 Hedged GBP Quarterly 81.31 0.29 0.36 29-Sep-22 104.13 81.02 LU2412549680 -
Class A3 USD Monthly 66.34 0.22 0.33 29-Sep-22 104.41 66.12 LU2070343558 -
Class A2 USD None 99.96 0.32 0.32 29-Sep-22 144.62 99.64 LU1669035997 -
Class X2 USD None 107.16 0.35 0.33 29-Sep-22 152.98 106.81 LU1669037183 -
Class S3 USD Monthly 82.73 0.27 0.33 29-Sep-22 104.14 82.46 LU2499270077 -
Class Z2 USD None 104.37 0.34 0.33 29-Sep-22 149.74 104.03 LU1721361928 -
Class D2 USD None 102.88 0.33 0.32 29-Sep-22 148.00 102.55 LU1669036458 -
Class E2 EUR None 119.31 -1.31 -1.09 29-Sep-22 149.90 119.31 LU1669036888 -
Class S2 Hedged EUR - 69.61 0.22 0.32 29-Sep-22 102.38 69.39 LU2412549094 -
Class D3 USD Monthly 67.90 0.22 0.33 29-Sep-22 106.07 67.68 LU2047633727 -
Class I3 Hedged EUR - 68.78 0.22 0.32 29-Sep-22 103.25 68.56 LU2440224645 -
Class A2 Hedged EUR - 69.27 0.22 0.32 29-Sep-22 102.36 69.05 LU2412548526 -
Class S2 USD - 71.62 0.23 0.32 29-Sep-22 102.43 71.39 LU2412548955 -
Class S3 Hedged SGD Monthly 82.23 0.27 0.33 29-Sep-22 104.09 81.96 LU2499270234 -
Class S3 Hedged EUR Monthly 81.79 0.25 0.31 29-Sep-22 104.00 81.54 LU2499270150 -
Class A3 Hedged CAD - 69.55 0.23 0.33 29-Sep-22 103.29 69.32 LU2451793595 -
Class A3 Hedged AUD - 69.17 0.22 0.32 29-Sep-22 103.28 68.95 LU2451793322 -
Class A2 Hedged CHF - 69.19 0.22 0.32 29-Sep-22 102.33 68.97 LU2412548799 -
Class S5 Hedged CHF Quarterly 81.35 0.26 0.32 29-Sep-22 104.04 81.09 LU2412549508 -
Class S2 Hedged CHF - 69.64 0.21 0.30 29-Sep-22 102.35 69.43 LU2412549177 -
Class S2 Hedged GBP - 70.12 0.25 0.36 29-Sep-22 102.39 69.87 LU2412549250 -
Class A3 Hedged SGD Monthly 65.55 0.22 0.34 29-Sep-22 103.95 65.33 LU2070343632 -

Portfolio Managers

Portfolio Managers

James Wilkinson
James Wilkinson
Alastair Gillespie
Alastair Gillespie
Mark Howard-Johnson
Mark Howard-Johnson

Literature

Literature