Fixed Income

BlackRock Charities UK Bond 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.

Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to repay the principal and make interest payments. The Fund uses derivatives as part of its investment strategy. Compared to a fund which only invests in traditional instruments such as stocks and bonds, derivatives are potentially subject to a higher level of risk. The Fund’s investments may have low liquidity which often causes the value of these investments to be less predictable. In extreme cases, the Fund may not be able to realise the investment at the latest market price or at a price considered fair. 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.
Loading

Performance

Performance

Chart

View full chart

Distributions

Ex-Date Total Distribution
View full table

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 (%) 12.7 1.1 8.3 2.7 -0.5 6.8 6.8 -3.7 -17.6 6.0
Constraint Benchmark 1 (%) 13.9 1.4 8.3 2.6 0.1 6.4 6.6 -3.4 -17.7 5.8

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

  1y 3y 5y 10y Incept.
5.12 -4.56 -2.08 0.97 -
Constraint Benchmark 1 (%) 5.52 -4.61 -2.03 1.03 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.04 1.22 -0.24 3.69 5.12 -13.08 -9.98 10.15 -
Constraint Benchmark 1 (%) 1.23 1.36 0.02 3.07 5.52 -13.20 -9.76 10.84 -
  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

3.65 -3.22 -20.12 2.74 8.63
Constraint Benchmark 1 (%)

as of 30/Sept/2024

3.14 -3.12 -19.61 2.48 8.39
Previously, the performance history as at 31 October 2022 was quoted on the basis of closing prices. The full performance history is now shown based on dealing prices.
The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product.

The Fund was previously structured as Common Investment Fund (‘CIF’). On 06 12 2019, the CIF closed and the assets were transferred to a Charity Authorised Investment Fund (‘CAIF’). The CAIF is being run with the same investment objective and policy. Please note that the historical performance shown before 06 12 2019 is indicative and is provided when the fund was run as a CIF.

Unit Class and Benchmark performance displayed in GBP, hedged Unit 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 10/Dec/2024
GBP 45,228,991
Fund Launch Date
24/Nov/1987
Fund Base Currency
GBP
Constraint Benchmark 1
50% All Stocks Gilt (gov bonds) / 50% iBoxx Sterling Non-Gilt 1-10 Yr (GBP)
Initial Charge
0.00%
Management Fee
0.35%
Performance Fee
0.00%
Use of Income
Distributing
Regulatory Structure
PRIIPs KID Required
Morningstar Category
GBP Diversified Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
BFBFWK2
Share Class launch date
03/Dec/1975
Share Class Currency
GBP
Asset Class
Fixed Income
Investment Association Category
£ Strategic Bond
Ongoing Charges Figures
0.41%
ISIN
GB00BFBFWK23
Distribution Frequency
Quarterly
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRCUBAI
Ongoing Charges Figure ex. Discount
0.41%
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 29/Nov/2024
116
Standard Deviation (3y)
as of 30/Nov/2024
8.92%
Yield to Maturity
as of 29/Nov/2024
4.83
Weighted Average YTM
as of 29/Nov/2024
4.75%
Weighted Avg Maturity
as of 29/Nov/2024
6.85
12 Month Trailing Dividend Distribution Yield
as of 30/Nov/2024
4.17
3y Beta
as of 30/Nov/2024
1.053
Modified Duration
as of 29/Nov/2024
6.02
Effective Duration
as of 29/Nov/2024
6.02
WAL to Worst
as of 29/Nov/2024
6.85

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

3 stars
Overall Morningstar Rating for BlackRock Charities UK Bond Fund, Class A, as of 31/Jan/2023 rated against 114 GBP Diversified Bond Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 31/Dec/2023)
Analyst-Driven % as of 31/Dec/2023
10.00
Data Coverage % as of 31/Dec/2023
55.00

Holdings

Holdings

as of 29/Nov/2024
Name Weight (%)
UK CONV GILT 6 12/07/2028 4.36
UK CONV GILT 4.25 07/31/2034 3.59
UK CONV GILT 0.375 10/22/2030 3.33
UK CONV GILT 4.25 12/07/2049 2.41
JPMORGAN CHASE & CO MTN RegS 0.991 04/28/2026 2.36
Name Weight (%)
UK CONV GILT 4 10/22/2031 2.27
UK CONV GILT 0.5 01/31/2029 2.01
BNP PARIBAS SA MTN RegS 3.375 01/23/2026 2.01
UK CONV GILT 0.125 01/31/2028 2.01
GOLDMAN SACHS GROUP INC 7.125 08/07/2025 1.86
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29/Nov/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Nov/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Nov/2024

% of Market Value

Type Fund Benchmark Net
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
Class A GBP Quarterly 1.43 1.44 GB00BFBFWK23
Class A GBP - 46.61 46.68 GB00BFBFWL30

Portfolio Managers

Portfolio Managers

Simon Blundell

Managing Director, is Head of the Fundamental Sterling Team within BlackRock's Global Fixed Income (GFI) Group.

Tom Carr
Tom Carr
Kieran Lally
Kieran Lally

Literature

Literature