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.
The value of your investment and the income from it will vary and your initial investment amount is not guaranteed.
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
The Fund’s investments may have low liquidity, which often causes the value of these investments to be less predictable. In extreme cases the Fund may not be able to realise the investment at the latest market price or at a price considered fair.
Performance
Performance
Chart
Distributions
-
Returns
This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.
Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.
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 GBP 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
Portfolio Characteristics
Portfolio Characteristics
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.
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.
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.
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 combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the 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.
Risk Indicator
Risk Indicator
Ratings
Ratings
Holdings
Holdings
| Name | Weight (%) |
|---|---|
| UNITED KINGDOM OF GREAT BRITAIN AN 4.125 01/29/2027 | 6.36 |
| UK CONV GILT 4.25 09/07/2039 | 3.30 |
| TESCO PROPERTY RegS | 2.47 |
| UK CONV GILT 4.25 06/07/2032 | 2.44 |
| BAT INTERNATIONAL FINANCE PLC MTN RegS 2.25 06/26/2028 | 2.38 |
| Name | Weight (%) |
|---|---|
| METROPOLITAN LIFE GLOBAL FUNDING I RegS 5 01/10/2030 | 2.17 |
| ELECTRICITE DE FRANCE SA MTN RegS 5.875 12/31/2079 | 2.06 |
| TIME WARNER CABLE LLC 5.75 06/02/2031 | 2.05 |
| BANCO SANTANDER SA MTN RegS 4.75 08/30/2028 | 1.90 |
| AT&T INC RegS 5.5 03/15/2027 | 1.88 |
Exposure Breakdowns
Exposure Breakdowns
Pricing & Exchange
Pricing & Exchange
| Investor Class | Currency | Distribution Frequency | Bid Price | Offer Price | ISIN | TIS |
|---|---|---|---|---|---|---|
| Class A | GBP | Daily | 0.92 | 0.93 | GB0003749982 | - |
| Class S | GBP | Daily | 0.94 | 0.95 | GB00BK1PK476 | - |
| Class S | GBP | None | 1.23 | 1.23 | GB00BK1PJT53 | - |
| Class X | GBP | None | 1.23 | 1.24 | GB00BQJZV592 | - |
| Class D | GBP | Daily | 0.98 | 0.99 | GB00B4T5JV79 | - |
| Class A | GBP | None | 3.10 | 3.11 | GB0005769541 | - |
| Class D | GBP | None | 3.29 | 3.30 | GB00B4QC3311 | - |
Portfolio Managers
Portfolio Managers
Ben Edwards, CFA, Managing Director, is a Portfolio Manager in the Sterling Bond Portfolio team within BlackRock's Global Fixed Income Group. Mr. Edwards is the lead fund manager of the BlackRock Corporate Bond Fund and co-manager of the BlackRock Sterling Strategic Bond Fund.
