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 Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent.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

Loading

Performance

Performance

Chart

Performance chart data not available for display.
View full chart

This chart shows the fund's performance as the percentage loss or gain per year over the last 4 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2017 2018 2019 2020 2021
Total Return (%) 1.7 3.0 -2.1 9.3
Comparator Benchmark 1 (%) 2.1 2.6 1.1 0.2
  From
31-Mar-2017
To
31-Mar-2018
From
31-Mar-2018
To
31-Mar-2019
From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
Total Return (%)

as of 31-Mar-22

- -0.29 1.81 -0.51 8.63
Comparator Benchmark 1 (%)

as of 31-Mar-22

- 2.48 2.38 0.64 0.20
  1y 3y 5y 10y Incept.
7.25 2.50 - - 3.00
Comparator Benchmark 1 (%) 0.29 0.96 - - 1.37
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.22 -1.17 0.23 3.05 7.25 7.70 - - 15.33
Comparator Benchmark 1 (%) 0.22 0.08 0.17 0.23 0.29 2.91 - - 6.81

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 USD, 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 01-Jul-22 USD 760,505,809
Share Class launch date 02-Aug-17
Fund Launch Date 17-Feb-12
Share Class Currency USD
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 0.00%
Ongoing Charges Figures 1.19%
Annual Management Fee 1.00%
Performance Fee 20.00%
Minimum Initial Investment USD 10,000,000.00
Minimum Subsequent Investment USD 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Equity Market Neutral USD
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSADI2U
ISIN LU1653088168
SEDOL BDFBR07

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-May-22 3842
Standard Deviation (3y) as of 31-May-22 5.01%
3y Beta as of 31-May-22 0.308
P/E Ratio as of 31-May-22 7.93
P/B Ratio as of 31-May-22 1.09

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

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 31-May-22 0.00%
MSCI - UN Global Compact Violators as of 31-May-22 0.00%
MSCI - Nuclear Weapons as of 31-May-22 0.00%
MSCI - Thermal Coal as of 31-May-22 0.00%
MSCI - Civilian Firearms as of 31-May-22 0.00%
MSCI - Oil Sands as of 31-May-22 0.00%
MSCI - Tobacco as of 31-May-22 0.00%

Business Involvement Coverage as of 31-May-22 82.31%
Percentage of Fund not covered as of 31-May-22 17.74%
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 0.01%.

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 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

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BSF Americas Diversified Equity Absolute Return Fund, Class I2, as of 30-Jun-22 rated against 99 Equity Market Neutral USD Funds.

Holdings

Holdings

as of 31-May-22
Name Weight (%)
BLACK HILLS CORPORATION 2.49
DTE ENERGY COMPANY 2.19
METLIFE INC 2.06
CMS ENERGY CORPORATION 1.84
BROWN-FORMAN CORPORATION 1.71
Name Weight (%)
TRUIST FINANCIAL CORP 1.60
ILLINOIS TOOL WORKS INC 1.51
AMEREN CORPORATION 1.51
FIRST INDUSTRIAL REALTY TRUST INC 1.49
OGE ENERGY CORPORATION 1.46
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-May-22

% of Market Value

Type Fund
as of 31-May-22

% of Market Value

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 31-May-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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class I2 USD None 114.01 -0.56 -0.49 01-Jul-22 117.37 107.17 LU1653088168 -
Class A2 Hedged EUR None 123.26 -0.63 -0.51 01-Jul-22 127.90 117.07 LU0725892466 -
Class D2 Hedged CHF None 103.58 -0.51 -0.49 01-Jul-22 107.27 98.15 LU1238068594 -
Class I2 Hedged SEK - 98.34 -0.51 -0.52 01-Jul-22 101.51 92.47 LU1873114208 -
Class I2 Hedged JPY - 10,192.81 -51.21 -0.50 01-Jul-22 10,514.61 9,612.95 LU1791183780 -
Class A2 Hedged SEK None 126.15 -0.65 -0.51 01-Jul-22 130.56 119.47 LU0765562458 -
Class A2 EUR - 112.35 -0.39 -0.35 01-Jul-22 115.82 93.41 LU1991022069 -
Class D2 USD None 119.66 -0.59 -0.49 01-Jul-22 123.24 112.59 LU1238068321 -
Class A2 GBP None 183.20 1.42 0.78 01-Jul-22 185.72 149.44 LU0784324112 -
Class D2 Hedged EUR None 128.46 -0.65 -0.50 01-Jul-22 132.78 121.47 LU0725892383 -
Class I2 Hedged EUR None 105.26 -0.53 -0.50 01-Jul-22 108.67 99.51 LU1323999489 -
Class A2 AUD None 205.62 2.27 1.12 01-Jul-22 210.01 175.36 LU0840974975 -
Class A2 USD None 138.67 -0.68 -0.49 01-Jul-22 142.90 130.55 LU0725887540 -
Class D2 Hedged GBP None 115.36 -0.60 -0.52 01-Jul-22 118.83 108.43 LU1246651910 -

Portfolio Managers

Portfolio Managers

Raffaele Savi
Raffaele Savi
Travis Cooke
Travis Cooke

Literature

Literature