Equity

BSF Americas Diversified Equity 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 Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent.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

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Performance

Performance

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This chart shows the fund's performance as the percentage loss or gain per year over the last 6 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) -2.4 3.3 -1.9 -0.7 -4.0 8.2
Comparator Benchmark 1 (%) 0.7 1.1 2.1 2.6 1.1 0.2
  From
30-Sep-2017
To
30-Sep-2018
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
Total Return (%)

as of 30-Sep-22

4.28 -6.03 -1.86 0.04 4.95
Comparator Benchmark 1 (%)

as of 30-Sep-22

1.79 2.64 1.57 0.21 0.98
  1y 3y 5y 10y Incept.
4.95 1.01 0.19 - 0.65
Comparator Benchmark 1 (%) 0.98 0.92 1.43 - 1.20
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
0.76 2.68 0.74 0.09 4.95 3.05 0.97 - 4.86
Comparator Benchmark 1 (%) 0.95 0.23 0.62 0.86 0.98 2.77 7.37 - 9.10

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in CHF, hedged Share Class Benchmark performance is displayed in USD.

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-Oct-22 USD 727,929,689
Share Class launch date 03-Jun-15
Fund Launch Date 17-Feb-12
Share Class Currency CHF
Fund Base Currency USD
Asset Class Equity
Comparator Benchmark 1 3 Month SOFR Compounded in Arrears plus 26.1 basis point spread
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.48%
Annual Management Fee 1.00%
Performance Fee 20.00%
Minimum Initial Investment CHF 100,000.00
Minimum Subsequent Investment -
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Equity Market Neutral Other
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSADD2C
ISIN LU1238068594
SEDOL BY7S1L2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30-Sep-22 3692
Standard Deviation (3y) as of 30-Sep-22 5.06%
3y Beta as of 30-Sep-22 0.729
P/E Ratio as of 30-Sep-22 7.83
P/B Ratio as of 30-Sep-22 1.07

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 the research and decision phases of the investment process. This may include relevant, internal ESG research which along with multiple other research insights, informs active portfolio weighting versus a reference benchmark (or weighting implemented to achieve an absolute return outcome, if applicable). The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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

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

Ratings

Holdings

Holdings

as of 30-Sep-22
Name Weight (%)
DTE ENERGY COMPANY 2.98
CMS ENERGY CORPORATION 2.43
KEYCORP 2.32
COLGATE-PALMOLIVE CO 2.22
MARSH & MCLENNAN COMPANIES INC 2.10
Name Weight (%)
ESSEX PROPERTY TRUST INC 2.06
CIGNA CORP 1.99
PEPSICO INC 1.95
TRAVELERS COMPANIES INC 1.85
BLACK HILLS CORPORATION 1.75
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-22

% of Market Value

Type Fund
as of 30-Sep-22

% of Market Value

Type Fund
as of 30-Sep-22

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class D2 Hedged CHF None 104.92 -0.48 -0.46 06-Oct-22 107.27 99.26 LU1238068594 -
Class A2 Hedged EUR None 124.66 -0.52 -0.42 06-Oct-22 127.90 118.31 LU0725892466 -
Class D2 Hedged EUR None 130.08 -0.55 -0.42 06-Oct-22 132.78 122.87 LU0725892383 -
Class A2 USD None 141.13 -0.48 -0.34 06-Oct-22 142.90 132.16 LU0725887540 -
Class I2 Hedged EUR None 106.67 -0.39 -0.36 06-Oct-22 108.67 100.70 LU1323999489 -
Class I2 USD None 116.24 -0.37 -0.32 06-Oct-22 117.37 108.63 LU1653088168 -
Class D2 USD None 121.92 -0.39 -0.32 06-Oct-22 123.24 114.07 LU1238068321 -
Class A2 GBP None 199.35 0.08 0.04 06-Oct-22 207.43 153.18 LU0784324112 -
Class A2 Hedged SEK None 127.97 -0.54 -0.42 06-Oct-22 130.56 120.83 LU0765562458 -
Class I2 Hedged SEK - 99.96 -0.42 -0.42 06-Oct-22 101.51 93.66 LU1873114208 -
Class I2 Hedged JPY - 10,328.49 -38.22 -0.37 06-Oct-22 10,514.61 9,733.55 LU1791183780 -
Class D2 Hedged GBP None 117.36 -0.40 -0.34 06-Oct-22 118.83 109.79 LU1246651910 -
Class A2 AUD None 220.52 -1.36 -0.61 06-Oct-22 221.88 179.92 LU0840974975 -
Class A2 EUR - 121.00 -0.02 -0.02 06-Oct-22 122.51 96.70 LU1991022069 -

Portfolio Managers

Portfolio Managers

Raffaele Savi
Raffaele Savi
Travis Cooke
Travis Cooke

Literature

Literature