Multi Asset

Armed Forces Common Investment Fund

  • Bid price as of 06/Dec/2019 GBP 2.12
  • Offer price as of 06/Dec/2019 GBP 2.13
  • Morningstar Rating

Overview

Investment Approach

From 4 December 2019 this fund is no longer available for investment.
The Fund aims to achieve a return over the long term on your investment, through a combination of capital growth and income on the Fund’s assets. The Fund invests mainly in equity securities (e.g. shares) and fixed income (FI) securities (such as bonds). The Fund's investments (both direct and indirect) in FI securities and money market instruments (i.e. debt securities with short term maturities) may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development).

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 financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

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Performance

Performance

Chart

Performance chart data not available for display.
View full chart
Unit Class performance displayed in British Pound. Source: BlackRock. Performance is shown on a bid to bid price basis, with net income reinvested, net of fees. Past performance is not a reliable indicator of current or future performance.


Distributions

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable Date Total Distribution

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

  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Total Return (%) 19.7 12.8 -1.4 9.9 14.0 6.9 5.1 12.7 13.4 -6.6
Benchmark (%) 22.3 13.6 -1.7 10.4 14.4 7.1 1.9 18.5 12.5 -3.9
  From
30-Sep-2014
To
30-Sep-2015		 From
30-Sep-2015
To
30-Sep-2016		 From
30-Sep-2016
To
30-Sep-2017		 From
30-Sep-2017
To
30-Sep-2018		 From
30-Sep-2018
To
30-Sep-2019
Total Return (%)

as of 30/Sep/2019

3.45 15.65 11.64 5.96 4.75
Benchmark (%)

as of 30/Sep/2019

0.21 19.93 11.19 6.48 6.59
  1y 3y 5y 10y Incept.
Total Return (%) 10.82 8.32 7.41 8.42 8.07
Benchmark (%) 10.02 8.23 8.01 8.77 8.02
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 15.82 2.58 1.27 5.43 10.82 27.11 42.97 124.48 281.51
Benchmark (%) 13.32 1.38 1.13 5.82 10.02 26.78 47.03 131.85 278.42

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

Net Assets of Fund as of 06/Dec/2019 GBP 350,718,912
Share Class launch date 02/Sep/2002
Fund Launch Date 28/Aug/2002
Share Class Currency GBP
Fund Base Currency GBP
Asset Class Multi Asset
Benchmark Index 30% MSWXUKGBPN / FTULALGBP / 10% IPDABINX / GBP3MLIBK / 20% BSTRGILTS (GBP)
Index Ticker -
Investment Association Category -
Initial Charge 0.00%
Ongoing Charges Figures 0.47%
Annual Management Fee 0.40%
Performance Fee -
Minimum Initial Investment GBP 1,000.00
Minimum Subsequent Investment GBP 1,000.00
Distribution Frequency Daily
Use of Income Distributing
Domicile United Kingdom
Regulatory Structure PRIIPs KID Required
Management Company BlackRock Fund Managers Ltd
Morningstar Category GBP Allocation 80%+ Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BRAFCII
ISIN GB0031782161
SEDOL 3178216

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31/Dec/2019 2
12m Trailing Yield as of 31/Jan/2018 3.54
Standard Deviation (3y) as of 30/Nov/2019 7.15%
3y Beta as of 30/Nov/2019 1.084
P/E Ratio as of 28/Feb/2023 0.00
P/B Ratio as of 28/Feb/2023 0.00
Yield to Maturity as of 28/Feb/2023 4.59
Modified Duration as of 28/Feb/2023 0.00
Effective Duration as of 28/Feb/2023 0.00
Weighted Avg Maturity as of 28/Feb/2023 0.00

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Armed Forces Common Investment Fund, Income, as of 30/Nov/2019 rated against 404 GBP Allocation 80%+ Equity Funds.

Holdings

Holdings

as of 31/May/2016
Name Weight (%)
BPF - UK Property DIST UTS 9.95
BIBF - All Stocks Corporate Bond 4.72
ISHARES MSCI EMERGING MARKETS UCIT 4.61
STONE HARBOR INV EMG MKT DEBT I DI 3.55
BGF European Equity Income Fund 3.01
Name Weight (%)
BRITISH AMERICAN TOBACCO PLC 2.79
ASTRAZENECA PLC 2.46
LLOYDS BANKING GROUP PLC 2.35
MSCI EMER MKT MIN JUN 16 2.34
UNILEVER PLC 2.21
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

Sorry, sectors are not available at this time.
Sorry, geographic exposures are not available at this time.
as of 29/Jul/2016

% of Market Value

Type Fund Benchmark Net
as of 28/Feb/2023

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
Sorry, maturities are not available at this time.
Sorry, ratings are not available at this time.
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 Bid Price Offer Price ISIN TIS
Income GBP Daily 2.12 2.13 GB0031782161 -
Class Acc GBP None 3.76 3.78 GB0031781080 -

Portfolio Managers

Portfolio Managers

Conan McKenzie
Conan McKenzie
CFA, Director and portfolio manager

Member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group.

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Conan McKenzie, CFA, Director and portfolio manager, is a member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group. Within Diversified Strategies, Mr. McKenzie is involved in managing both benchmarked and outcome oriented funds. As with Mr. Ryan, Mr. McKenzie has portfolio management responsibilities across the charities funds and DDG. Conan has been a portfolio manager on the charities funds since April 2013. He also leads the team's ESG research agenda that drives the potential for ESG-related thematic investments, as well as alternative investment opportunities and third party manager research.

Mr. McKenzie holds a MA degree in History & Politics from the University of Oxford, and is a CFA Charterholder. His service with the firm dates back to 2011.

Adam Ryan
Adam Ryan
Managing Director and portfolio manager

Head of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing investment strategies involving multiple asset classes.

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Adam Ryan, Managing Director and portfolio manager, is Head of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing investment strategies involving multiple asset classes. Mr. Ryan is the lead portfolio manager of the charities funds; Charities Growth & Income Fund, Armed Forces Common Investment Fund and Charifaith Common Investment Fund. Adam is also the lead portfolio manager of the BlackRock Dynamic Diversified Growth (DDG) strategy.

Mr Ryan's service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. His background is in fixed income portfolio management where he was Head of Fixed Income for MLIM's Private Client business before developing and managing diversified multi-asset portfolios for both private and institutional clients.

Mr. Ryan earned a BA degree with honours in engineering from Cambridge University in 1991.

Literature

Literature