Cash

BlackRock Cash Fund

  • Bid price as of 08/Dec/2023 GBP 1.0723
  • Offer price as of 08/Dec/2023 GBP 1.0723
  • Morningstar Rating

Overview

About this Fund

Short-term variable net asset value (STVNAV) short-term money market fund Morningstar Category: GBP Money Market - Short Term. The credit ratings were solicited and financed by BlackRock.

Investment Approach

The Fund aims to achieve a rate of interest on your investment (i.e. a return), consistent with maintaining capital and ensuring that its underlying assets can easily be bought or sold in the market (in normal market conditions). The Fund invests in cash and money-market instruments (i.e. debt securities with short term maturities) and up to 10% in units in collective investment schemes (i.e. other investment funds which may be Associated Funds and are specifically classified as Short Term Money Market Funds) denominated in Sterling. The money-market instruments will be issued by both UK and non-UK governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development) and may be investment grade (i.e. meet a specified level of credit worthiness), non-investment grade or unrated at the time of purchase

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.

A Money Market Fund (MMF) is not a guaranteed investment vehicle. An investment in MMFs is different from an investment in deposits; the principal invested in an MMF is capable of fluctuation and the risk of loss of the principal is to be borne by the investor.  The MMF does not rely on external support for guaranteeing the liquidity of the MMF or stabilising the NAV per share.

Short Term Money Market Funds do not generally experience extreme price variations. Changes in interest rates will impact the Fund. Loss of Capital: an automatic share redemption may occur which will reduce the number of shares held by each investor. This share redemption will result in a loss of capital to investors. Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss. Credit Risk: The issuer of a financial asset held within the Fund may not pay income or repay capital to the Fund when due.

The value of your investment and the income from it will vary and your initial investment amount is not guaranteed.


Investors should understand that capital growth is not a priority for the Fund and that income levels will vary and are not guaranteed.
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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 7 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 0.3 0.1 0.4 0.6 0.1 -0.1 1.2
Comparator Benchmark 1 (%) 0.3 0.2 0.5 0.6 0.1 -0.1 1.4

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 (%) 4.43 1.76 1.20 - 0.79
Comparator Benchmark 1 (%) 4.53 1.84 1.24 - 0.84
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 4.17 0.43 1.33 2.56 4.43 5.38 6.15 - 7.12
Comparator Benchmark 1 (%) 4.25 0.43 1.30 2.55 4.53 5.62 6.35 - 7.53
  From
30-Sep-2018
To
30-Sep-2019		 From
30-Sep-2019
To
30-Sep-2020		 From
30-Sep-2020
To
30-Sep-2021		 From
30-Sep-2021
To
30-Sep-2022		 From
30-Sep-2022
To
30-Sep-2023
Total Return (%)

as of 30/Sep/2023

0.53 0.29 -0.06 0.51 3.98
Comparator Benchmark 1 (%)

as of 30/Sep/2023

0.57 0.22 -0.08 0.70 4.06

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 08/Dec/2023 GBP 1,091,933,377
Share Class launch date 20/Mar/2015
Fund Launch Date 22/Mar/1990
Share Class Currency GBP
Fund Base Currency GBP
Asset Class Cash
Comparator Benchmark 1 Sterling Overnight Index Average Rate (SONIA)
Investment Association Category -
Initial Charge 5.00%
Ongoing Charges Figures 0.19%
ISIN GB00BW1YM199
Annual Management Fee 0.14%
Performance Fee 0.00%
Minimum Initial Investment GBP 50,000,000.00
Minimum Subsequent Investment GBP 50.00
Use of Income Accumulating
Domicile United Kingdom
Regulatory Structure UCITS
Management Company BlackRock Fund Managers Ltd
Morningstar Category GBP Money Market - Short Term
Dealing Settlement Trade Date + 2 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BLKCFSG LN
SEDOL BW1YM19
Ongoing Charges Figure ex. Discount 0.19%
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30/Nov/2023 11
Weighted Average Maturity as of 08/Dec/2023 45 days
Weighted Average Life as of 08/Dec/2023 59 days
3y Beta as of 30/Nov/2023 0.999
1-Day Yield as of 08/Dec/2023 5.07%

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 30/Nov/2023 0.00%
MSCI - UN Global Compact Violators as of 30/Nov/2023 0.00%
MSCI - Nuclear Weapons as of 30/Nov/2023 0.00%
MSCI - Thermal Coal as of 30/Nov/2023 0.00%
MSCI - Civilian Firearms as of 30/Nov/2023 0.00%
MSCI - Oil Sands as of 30/Nov/2023 0.00%
MSCI - Tobacco as of 30/Nov/2023 0.00%
Business Involvement Coverage as of 30/Nov/2023 85.61%
Percentage of Fund not covered as of 30/Nov/2023 14.39%
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 0.00% 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 considers ESG information in the research, security selection and portfolio review stages of the investment process. The Fund manager conducts bi-weekly credit meetings, wherein each credit is examined through an internal relative value analysis, which contains qualitative governance considerations combined with environmental, societal and governance metrics derived from third-party data providers, where available. The Fund manager conducts regular portfolio risk reviews with Risk and Quantitative Analysis group. These reviews include discussion of the portfolio's exposure to material ESG risks, where appropriate.

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BlackRock Cash Fund, Class S, as of 30/Nov/2023 rated against 252 GBP Money Market - Short Term Funds.

Holdings

Holdings

Name Type Market Value Weight (%) Nominal Local Market Value ISIN Maturity Maturity/Reset
Detailed Holdings and Analytics
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2023

% of Market Value

Type Fund Benchmark Net
as of 07/Dec/2023

% of Market Value

Type Fund
as of 07/Dec/2023

% 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 Bid Price Offer Price ISIN
Class S GBP 1.07 1.07 GB00BW1YM199
Class OS GBP 1.07 1.07 GB00BYYQBS68
Class X GBP 1.00 1.00 GB00BFBFXM12
Class S GBP 1.00 1.00 GB00BW9Z0K92
Class OS GBP 1.00 1.00 GB00BYPBTP36
Class A GBP 2.51 2.51 GB0005849467
Class D GBP 1.01 1.01 GB00B42XLZ68
Class X GBP 1.09 1.09 GB00BVD5YG21
Class A GBP 1.01 1.01 GB0005849350
Class D GBP 2.56 2.56 GB00B4V7NX18

Portfolio Managers

Portfolio Managers

Matt Clay
Matt Clay

Literature

Literature