Fixed Income

BlackRock Euro Credit Enhanced Index Fund

  • NAV as of 09/Dec/2024 EUR 9.76
    52 WK: 9.31 - 9.76
  • 1 Day NAV Change as of 09/Dec/2024 0.01 (0.09%)

Overview

Investment Approach


The Fund aims to achieve a total return on your investment, through a combination of capital growth and income, which aims to out-perform the return of the FTSE Non -EGBI Euro Broad Investment-Grade Index (the Index).

The Fund has an enhanced index strategy which differs from a pure-index tracking strategy. Although both strategies invest in a similar range of fixed income (FI) securities (such as bonds), enhanced strategies aim to take overweight and/or underweight positions relative to the benchmark index in order to achieve some outperformance of the benchmark index.

The Fund invests predominantly in the FI securities that make up the Index (which comprises credit bonds).

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.

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

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Performance

Performance

Chart

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Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

Distributions

Ex-Date Total Distribution
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Ex-Date Total Distribution
For more information: +353 1 612 3394 • www.blackrock.com • investor.services@blackrock.com

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 8.4 0.2 3.6 1.6 -0.6 5.3 3.1 -1.9 -16.0 7.3
Target Benchmark 1 (%) 8.2 0.1 3.4 1.1 -0.2 5.0 2.8 -1.9 -15.4 7.4

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 (%) 7.51 -2.17 -1.05 0.55 1.56
Target Benchmark 1 (%) 7.33 -2.01 -1.01 0.50 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 4.44 1.60 2.31 5.08 7.51 -6.38 -5.16 5.59 20.96
Target Benchmark 1 (%) 4.24 1.47 2.22 5.04 7.33 -5.91 -4.95 5.14 -
  From
30-Sept-2019
To
30-Sept-2020 		From
30-Sept-2020
To
30-Sept-2021 		From
30-Sept-2021
To
30-Sept-2022 		From
30-Sept-2022
To
30-Sept-2023 		From
30-Sept-2023
To
30-Sept-2024
Total Return (%)

as of 30/Sept/2024

0.41 0.17 -16.95 1.87 9.27
Target Benchmark 1 (%)

as of 30/Sept/2024

0.21 0.01 -15.96 1.46 9.10

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 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

Key Facts

Key Facts

Net Assets
as of 09/Dec/2024
EUR 23,569,813
Share Class launch date
09/Aug/2012
Share Class Currency
EUR
Asset Class
Fixed Income
SFDR Classification
Other
Ongoing Charges Figures
0.20%
ISIN
IE00B8138T89
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
EUR Corporate Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
B8138T8
Net Assets of Fund
as of 09/Dec/2024
EUR 1,336,748,694
Fund Launch Date
30/Jun/2003
Fund Base Currency
EUR
Target Benchmark 1
FTSE EuroBIG ex Domestic Treasury Index (EUR)
Initial Charge
0.00%
Management Fee
0.17%
Performance Fee
-
Domicile
Ireland
Management Company
BlackRock Asset Management Ireland Limited
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRECEEI

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Oct/2024
626
Standard Deviation (3y)
as of 30/Nov/2024
6.76%
Yield to Maturity
as of 31/Oct/2024
3.27
Weighted Average YTM
as of 31/Oct/2024
3.21%
Weighted Avg Maturity
as of 31/Oct/2024
6.07
12 Month Trailing Dividend Distribution Yield
as of 30/Nov/2024
1.87
3y Beta
as of 30/Nov/2024
1.035
Modified Duration
as of 31/Oct/2024
5.20
Effective Duration
as of 31/Oct/2024
5.23
WAL to Worst
as of 31/Oct/2024
6.07

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 31/Oct/2024)
Analyst-Driven % as of 31/Oct/2024
10.00
Data Coverage % as of 31/Oct/2024
96.00

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
ISH CORE EURO CORP BND ETF EUR DIS 2.32
KFW MTN RegS 0 09/30/2026 0.74
SMITHS GROUP PLC MTN RegS 2 02/23/2027 0.71
CAISSE AMORTISSEMENT DE LA DETTE S MTN RegS 0 02/25/2028 0.70
A1 TOWERS HOLDING GMBH RegS 5.25 07/13/2028 0.68
Name Weight (%)
EUROPEAN FINANCIAL STABILITY FACIL MTN RegS 3 12/15/2028 0.64
INFORMA PLC MTN RegS 1.25 04/22/2028 0.59
EUROPEAN UNION RegS 0 04/22/2031 0.59
BABCOCK INTERNATIONAL GROUP PLC MTN RegS 1.375 09/13/2027 0.58
ARCADIS NV RegS 4.875 02/28/2028 0.57
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Inst EUR 9.76 0.01 0.09 09/Dec/2024 9.76 9.31 IE00B8138T89
Flex EUR 10.74 -0.03 -0.27 31/Oct/2022 13.05 10.57 IE00B1JC0J29
Flex EUR 18.87 0.02 0.09 09/Dec/2024 18.87 17.66 GB0033157560

Portfolio Managers

Portfolio Managers

Riyadh Ali
Riyadh Ali
Alessandro Ferrante
Alessandro Ferrante
Group SFI LO EMEA
Group SFI LO EMEA

Literature

Literature