Equity

BSF European 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.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The strategies utilised by the Fund involve the use of derivatives to facilitate certain investment management techniques including the establishment of both 'long' and 'synthetic short' positions and creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Funds. Investors in this fund should understand that the Fund is not guaranteed to produce a positive return and as an absolute return product, performance may not move in line with general stock market trends as both positive and negative share movements affect the overall value of the fund. The Manager employs a risk management process to oversee and manage derivative exposure within the Fund. The Fund may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of the fund.

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

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Distributions

This product does not have any distributions data as of now.

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 (%) 0.8 8.1 -7.3 3.4 3.9 1.1 9.0 8.7 -4.5 4.8
Comparator Benchmark 1 (%) 0.2 0.0 -0.3 -0.4 -0.4 -0.4 -0.4 -0.6 0.3 3.4

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

  1y 3y 5y 10y Incept.
7.56 2.46 4.73 3.33 3.13
Comparator Benchmark 1 (%) 3.67 2.34 1.20 0.46 0.41
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
7.09 2.78 2.04 2.65 7.56 7.56 26.02 38.82 45.22
Comparator Benchmark 1 (%) 3.35 0.24 0.79 1.70 3.67 7.19 6.14 4.68 5.05
  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

10.90 0.16 3.88 -2.13 7.81
Comparator Benchmark 1 (%)

as of 30/Sept/2024

-0.41 -0.55 -0.25 2.87 3.83

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 of Fund
as of 10/Dec/2024
EUR 828,262,562
Fund Launch Date
27/Feb/2009
Fund Base Currency
EUR
Comparator Benchmark 1
3 Month EURIBOR Index
Initial Charge
5.00%
Management Fee
1.00%
Performance Fee
20.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BEARD4E
Share Class launch date
25/Oct/2012
Share Class Currency
EUR
Asset Class
Equity
SFDR Classification
Other
Ongoing Charges Figures
1.37%
ISIN
LU0827970921
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Equity Market Neutral EUR
Dealing Frequency
Daily, forward pricing basis
SEDOL
B82ZX98

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 29/Nov/2024
114
Standard Deviation (3y)
as of 30/Nov/2024
6.54%
P/E Ratio
as of 29/Nov/2024
-10.22
12 Month Trailing Dividend Distribution Yield
as of -
-
3y Beta
as of 30/Nov/2024
2.434
P/B Ratio
as of 29/Nov/2024
-0.35

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 Rating

4 stars
Overall Morningstar Rating for BSF European Absolute Return Fund, Class D4, as of 30/Nov/2024 rated against 180 Equity Market Neutral EUR Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 02/Dec/2024)
Analyst-Driven % as of 02/Dec/2024
100.00
Data Coverage % as of 02/Dec/2024
100.00

Holdings

Holdings

as of 29/Nov/2024
Name Weight (%)
MTU AERO ENGINES AG 3.35
NOVO NORDISK A/S 3.17
LINDE PLC 3.05
RELX PLC 2.76
LONDON STOCK EXCHANGE GROUP PLC 2.60
Name Weight (%)
CRH PLC 2.60
SAFRAN SA 2.27
SAP SE 2.27
HOLCIM AG 2.24
LONZA GROUP AG 2.17
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29/Nov/2024

% of Market Value

Type Fund
as of 29/Nov/2024

% of Market Value

Type Fund
as of 29/Nov/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 D4 EUR 172.84 -0.56 -0.32 10/Dec/2024 175.60 160.09 LU0827970921
Class A2 EUR 165.35 -0.55 -0.33 10/Dec/2024 168.01 153.70 LU0411704413
Class D2 Hedged CHF 160.89 -0.60 -0.37 10/Dec/2024 166.06 152.44 LU0748867792
Class A4 EUR 165.33 -0.55 -0.33 10/Dec/2024 167.99 153.65 LU0414668557
Class I2 Hedged GBP 114.84 -0.37 -0.32 10/Dec/2024 116.64 105.28 LU2641749960
Class I2 EUR 181.03 -0.59 -0.32 10/Dec/2024 183.91 167.41 LU0776931064
Class D2 USD 120.97 -0.42 -0.35 10/Dec/2024 122.86 110.48 LU2213651438
Class D2 EUR 175.87 -0.58 -0.33 10/Dec/2024 178.68 162.91 LU0414666189
Class D2 Hedged GBP 194.78 -0.66 -0.34 10/Dec/2024 197.86 178.42 LU0802637750

Portfolio Managers

Portfolio Managers

Stephanie Bothwell
Stephanie Bothwell
Stefan Gries
Managing Director

Managing Director and Portfolio Manager, is Head of the European Equity team within BlackRock’s Fundamental Equity Group.

Literature

Literature