Multi Asset

BlackRock Charities Growth & Income Fund

  • Bid price as of 24/Mar/2023 GBP 1.18
  • Offer price as of 24/Mar/2023 GBP 1.19

Overview

Investment Approach

The Fund aims to provide a return on your investment (net of fees) over a period of 5 or more consecutive years beginning at the point of investment, generated through an increase to the value of the assets held by the Fund and/or income received from those assets whilst adhering to the Fund’s environmental, social and governance (ESG) criteria (the “ESG Criteria”). The Fund has a flexible approach to asset allocation and will seek to achieve its investment objective through a variety of asset classes. The Fund is actively managed and the above mentioned asset classes and the extent to which the Fund is invested in these may vary without limitation depending on market conditions and other factors at the Investment Manager’s (IM) discretion in accordance with the Fund’s investment policy. In selecting these, the IM will seek to exclude direct investments in companies or issuers which derive more than a specific proportion of their turnover from certain products and services including alcohol, armaments, gambling, pornography, tobacco and companies engaged in certain environmentally damaging activities and high-interest lending in accordance with the Fund’s ESG Criteria. In order to seek to comply with the investment policy, the IM will use MSCI Inc., or such other service provider deemed appropriate from time to time.

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 value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. 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.
Show Less
Loading

Performance

Performance

Chart

Performance chart data not available for display.
View full chart
Unit Class performance displayed in British Pound. Source: BlackRock. Performance is shown on a bid to bid price basis, with net income reinvested, net of fees. Past performance is not a reliable indicator of current or future performance.


This chart shows the fund's performance as the percentage loss or gain per year over the last 3 years.

  2018 2019 2020 2021 2022
Total Return (%) 10.6 12.0 -9.2
Constraint Benchmark 1 (%) 4.1 14.5 -9.3
  1y 3y 5y 10y Incept.
Total Return (%) -1.36 6.24 - - 5.43
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 2.88 0.64 0.34 -1.12 -1.36 19.92 - - 21.70
  From
31-Dec-2017
To
31-Dec-2018		 From
31-Dec-2018
To
31-Dec-2019		 From
31-Dec-2019
To
31-Dec-2020		 From
31-Dec-2020
To
31-Dec-2021		 From
31-Dec-2021
To
31-Dec-2022
Total Return (%)

as of 31/Dec/2022

- - 10.60 12.00 -9.24
Constraint Benchmark 1 (%)

as of 31/Dec/2022

- - 4.11 14.50 -9.32

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 24/Mar/2023 GBP 178,135,426
Share Class launch date 13/Jun/2019
Fund Launch Date 13/Jun/2019
Share Class Currency GBP
Fund Base Currency GBP
Asset Class Multi Asset
Constraint Benchmark 1 30% UK Equity / 30% Global Equity / 20% UK Gilt / 10% Property / 10% 3M SON
Investment Association Category Mixed Investment 40-85% Shares
Initial Charge 0.00%
Ongoing Charges Figures 0.06%
Annual Management Fee 0.00%
Performance Fee 0.00%
Minimum Initial Investment GBP 10,000,000.00
Minimum Subsequent Investment GBP 100.00
Use of Income Accumulating
Domicile United Kingdom
Regulatory Structure PRIIPs KID Required
Management Company BlackRock Fund Managers Ltd
Morningstar Category Other Allocation
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BRCGIXA
ISIN GB00BFBFWX51
SEDOL BFBFWX5

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28/Feb/2023 286
Standard Deviation (3y) as of 28/Feb/2023 11.15%
3y Beta as of 28/Feb/2023 1.007
P/E Ratio as of 28/Feb/2023 12.69
P/B Ratio as of 28/Feb/2023 1.70
Yield to Maturity as of 28/Feb/2023 0.86
Modified Duration as of 28/Feb/2023 1.07
Effective Duration as of 28/Feb/2023 0.94
Weighted Avg Maturity as of 28/Feb/2023 1.76

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 incorporates ESG considerations throughout the investment process’ macro outlook, idea generation, implementation tools, portfolio construction, risk management, ongoing monitoring and reporting. All research ideas generated for the Fund consider the potential impact from ESG-associated risks, and these are documented as part of the investment process. Idea implementation uses a wide range of building blocks, including active mutual funds, index funds, ETFs, direct securities, derivatives, and third-party funds. The Fund manager reviews research ideas and asset allocation on a regular basis and reassesses each of the building blocks utilized to access research ideas. The choice of building block is informed by ESG considerations. For strategies with an explicit ESG objective, certain building blocks are used to comply with those guidelines. Where an ESG focused building block becomes available, it will be considered as a replacement for standard market exposure. Both the extent and impact of screens and integration are considered in the context of the investment objective / investment style of particular strategies. The Fund manager may also build bespoke thematic baskets of securities, which are subject to BlackRock baseline screens in the first instance and where appropriate, additional screening criteria. The Fund manager uses E, S, and G criteria such as headline ESG and carbon footprint during the reporting phase. These are sourced from Aladdin or directly from third-party data providers. The Fund manager conducts regular portfolio monitoring with BlackRock’s Risk and Quantitative Analysis group, as well as portfolio reviews with 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

Sorry, top holdings are not available at this time.
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

Sorry, sectors are not available at this time.
Sorry, geographic exposures are not available at this time.
Sorry, geographic exposures are not available at this time.
as of 28/Feb/2023

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
Sorry, maturities are not available at this time.
Sorry, ratings are not available at this time.
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 TIS
Class X GBP - 1.18 1.19 GB00BFBFWX51 -
Class C GBP - 1.13 1.14 GB00BFK3MG33 -
Class A GBP - 1.06 1.06 GB00BFBFWH93 -
Class A GBP - 1.15 1.16 GB00BFBFWJ18 -
Class C GBP - 1.03 1.03 GB00BFK3MF26 -

Portfolio Managers

Portfolio Managers

Adam Ryan
Adam Ryan
Managing Director and portfolio manager

Head of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing investment strategies involving multiple asset classes.

Read More

Adam Ryan, Managing Director and portfolio manager, is Head of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing investment strategies involving multiple asset classes. Mr. Ryan is the lead portfolio manager of the charities funds; Charities Growth & Income Fund, Armed Forces Common Investment Fund and Charifaith Common Investment Fund. Adam is also the lead portfolio manager of the BlackRock Dynamic Diversified Growth (DDG) strategy.

Mr Ryan's service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. His background is in fixed income portfolio management where he was Head of Fixed Income for MLIM's Private Client business before developing and managing diversified multi-asset portfolios for both private and institutional clients.

Mr. Ryan earned a BA degree with honours in engineering from Cambridge University in 1991.

Conan McKenzie
Conan McKenzie
CFA, Director and portfolio manager

Member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group.

Read More

Conan McKenzie, CFA, Director and portfolio manager, is a member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group. Within Diversified Strategies, Mr. McKenzie is involved in managing both benchmarked and outcome oriented funds. As with Mr. Ryan, Mr. McKenzie has portfolio management responsibilities across the charities funds and DDG. Conan has been a portfolio manager on the charities funds since April 2013. He also leads the team's ESG research agenda that drives the potential for ESG-related thematic investments, as well as alternative investment opportunities and third party manager research.

Mr. McKenzie holds a MA degree in History & Politics from the University of Oxford, and is a CFA Charterholder. His service with the firm dates back to 2011.

Lamiaa Chaabi
Lamiaa Chaabi
Vice President and portfolio manager

Member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group.

Read More

Lamiaa Chaabi, Vice President and portfolio manager, is a member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group. Within Diversified Strategies, Mrs. Chaabi is involved in managing both benchmarked and unconstrained funds. Lamiaa has been a portfolio manager on charities funds since August 2016. She also leads and oversees the development of the team's portfolio construction risk analytics and investment process.

Mrs. Chaabi holds a MSc degree in Risk & Finance from the London School of Economics and a BSc degree in Computer Science from University College London. Mrs. Chaabi's service with the firm dates back to 2013.

Literature

Literature