Equity

BSF Emerging Companies Absolute Return 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.

Shares in smaller companies typically trade in less volume and experience greater price variations than larger companies. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. Due to its investment strategy an 'Absolute Return' fund may not move in line with market trends or fully benefit from a positive market environment. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.

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

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This chart shows the fund's performance as the percentage loss or gain per year over the last 5 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 16.0 11.1 9.9 -20.6 13.3
Comparator Benchmark 1 (%) 0.8 0.3 0.1 1.5 4.8

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

  1y 3y 5y 10y Incept.
15.53 0.80 5.31 - 5.75
Comparator Benchmark 1 (%) 5.44 3.02 1.95 - 1.81
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
10.20 1.06 2.62 10.20 15.53 2.43 29.51 - 37.55
Comparator Benchmark 1 (%) 2.68 0.44 1.33 2.68 5.44 9.34 10.12 - 10.77
  From
30.06.2019
To
30.06.2020
From
30.06.2020
To
30.06.2021
From
30.06.2021
To
30.06.2022
From
30.06.2022
To
30.06.2023
From
30.06.2023
To
30.06.2024
Total Return (%)

as of 30.Jun.2024

11.51 13.38 -18.76 9.13 15.53
Comparator Benchmark 1 (%)

as of 30.Jun.2024

0.66 0.06 0.43 3.25 5.44

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 USD, hedged share class benchmark performance is displayed in GBP.

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 12.Jul.2024
GBP 285,932,817
Fund Launch Date
17.Oct.2018
Fund Base Currency
GBP
Comparator Benchmark 1
3 Month SONIA Compounded in Arrears + 11.9 basis points spread
Initial Charge
5.00
ISIN
LU1861219613
Performance Fee
20.00%
Minimum Subsequent Investment
USD 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRUD2UH
Share Class launch date
17.Oct.2018
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Other
Ongoing Charges Figures
1.38%
Annual Management Fee
1.00%
Minimum Initial Investment
USD 100,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Long/Short Equity - Other
Dealing Frequency
Daily, forward pricing basis
SEDOL
BDRMQZ6

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28.Jun.2024
217
3y Beta
as of 30.Jun.2024
6.53
P/B Ratio
as of 28.Jun.2024
2.79
Standard Deviation (3y)
as of 30.Jun.2024
10.34%
P/E Ratio
as of 28.Jun.2024
22.44

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 28.Jun.2024
0.00%
MSCI - Nuclear Weapons
as of 28.Jun.2024
0.00%
MSCI - Civilian Firearms
as of 28.Jun.2024
0.00%
MSCI - Tobacco
as of 28.Jun.2024
0.00%
MSCI - UN Global Compact Violators
as of 28.Jun.2024
0.00%
MSCI - Thermal Coal
as of 28.Jun.2024
0.01%
MSCI - Oil Sands
as of 28.Jun.2024
0.00%

Business Involvement Coverage
as of 28.Jun.2024
84.34%
Percentage of Fund not covered
as of 28.Jun.2024
15.40%
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 0.01% 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 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 phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 28.Jun.2024
Name Weight (%)
LONDON STOCK EXCHANGE GROUP PLC 2.77
MICROSOFT CORPORATION 2.69
AMAZON.COM INC 2.56
BREEDON GROUP PLC 2.54
SMURFIT KAPPA GROUP PLC 2.27
Name Weight (%)
ASML HOLDING NV 2.21
CRH PLC 2.14
COMPASS GROUP PLC 2.14
OXFORD INSTRUMENTS PLC 2.13
RELX PLC 2.06
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28.Jun.2024

% of Market Value

Type Fund
as of 28.Jun.2024

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class D2 Hedged USD 139.99 0.60 0.43 12.Jul.2024 139.99 118.86 LU1861219613
Class I2 Hedged CHF 122.43 0.51 0.42 12.Jul.2024 122.43 106.64 LU1861219530
Class A2 GBP 127.11 0.53 0.42 12.Jul.2024 127.11 108.60 LU1990957067
Class D2 GBP 134.30 0.57 0.43 12.Jul.2024 134.30 114.34 LU1861218136
Class Z2 Hedged USD 144.72 0.62 0.43 12.Jul.2024 144.72 122.60 LU1861219704
Class A2 Hedged USD 130.51 0.56 0.43 12.Jul.2024 130.51 111.21 LU1990978147
Class Z2 Hedged EUR 129.96 0.54 0.42 12.Jul.2024 129.96 111.49 LU1861219027
Class A2 Hedged CHF 115.33 0.49 0.43 12.Jul.2024 115.33 101.01 LU1991003358
Class A2 Hedged EUR 123.22 0.51 0.42 12.Jul.2024 123.22 106.27 LU1861218565
Class I2 Hedged USD 142.61 0.61 0.43 12.Jul.2024 142.61 120.76 LU1861219886
Class X2 GBP 152.34 0.65 0.43 12.Jul.2024 152.34 128.13 LU1861218482
Class Z2 GBP 138.74 0.59 0.43 12.Jul.2024 138.74 117.91 LU1861218219
Class I2 Hedged JPY 9,108.34 38.52 0.42 12.Jul.2024 9,108.34 8,030.39 LU2413649091
Class D2 AUD Hedged AUD 96.07 0.40 0.42 12.Jul.2024 96.07 82.56 LU2402058403
Class X2 Hedged AUD 96.62 0.40 0.42 12.Jul.2024 96.62 82.11 LU2379649341
Class D2 Hedged EUR 126.19 0.54 0.43 12.Jul.2024 126.19 108.45 LU1861218995
Class I4 GBP 127.68 0.54 0.42 12.Jul.2024 127.68 108.48 LU2066748497
Class I2 JPY 13,476.03 83.51 0.62 12.Jul.2024 13,476.03 10,085.88 LU2413648952
Class A2 Hedged CNH 1,118.01 4.72 0.42 12.Jul.2024 1,118.01 969.43 LU2252211383
Class I2 GBP 136.87 0.58 0.43 12.Jul.2024 136.87 116.29 LU1861218300
Class D2 Hedged CHF 120.29 0.50 0.42 12.Jul.2024 120.29 104.98 LU1861219373
Class Z2 Hedged CHF 123.87 0.52 0.42 12.Jul.2024 123.87 107.92 LU1861219456
Class I2 Hedged EUR 128.42 0.54 0.42 12.Jul.2024 128.42 110.14 LU1861219290

Portfolio Managers

Portfolio Managers

Dan Whitestone
Dan Whitestone
Matthew Betts
Matthew Betts

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 USD 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
7,440 USD
-25.6%
4,920 USD
-13.2%

Unfavourable

What you might get back after costs
Average return each year
7,440 USD
-25.6%
9,180 USD
-1.7%

Moderate

What you might get back after costs
Average return each year
10,560 USD
5.6%
15,750 USD
9.5%

Favourable

What you might get back after costs
Average return each year
11,470 USD
14.7%
17,860 USD
12.3%

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.