Fixed Income

BlackRock Systematic Multi Allocation Credit 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.

Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Noninvestment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund. 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. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.

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

View full chart

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

  2019 2020 2021 2022 2023
Total Return (%) -0.1 -15.9 10.0
Target Benchmark 1 (%) 0.4 -15.8 9.9

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

  1y 3y 5y 10y Incept.
8.70 -2.05 - - 1.63
Target Benchmark 1 (%) 7.78 -2.06 - - 1.73
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.86 1.21 0.81 1.86 8.70 -6.01 - - 6.96
Target Benchmark 1 (%) 1.54 0.75 0.51 1.54 7.78 -6.07 - - 7.38
  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of 30/Jun/2024

- 7.72 -16.95 4.12 8.70
Target Benchmark 1 (%)

as of 30/Jun/2024

- 7.71 -16.58 4.48 7.78

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 19/Jul/2024
GBP 138,943,804
Fund Launch Date
04/May/2020
Fund Base Currency
GBP
Target Benchmark 1
Bloomberg Global Aggregate Corporate GBP Hedged Index, Bloomberg Global High Yield Index Excl CMBS & EMG 2% Capped GBP Hedged Index and J.P. Morgan EMBI ESG Global Diversified GBP Hedged Index
Ongoing Charges Figures
0.28%
Annual Management Fee
0.20%
Minimum Initial Investment
GBP 100,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BFBFY28
Share Class launch date
04/May/2020
Share Class Currency
GBP
Asset Class
Fixed Income
Initial Charge
0.00%
ISIN
GB00BFBFY283
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 100.00
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BLMACDA
Ongoing Charges Figure ex. Discount
0.28%
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28/Jun/2024
1446
3y Beta
as of 30/Jun/2024
0.999
Modified Duration
as of 28/Jun/2024
5.53
Effective Duration
as of 28/Jun/2024
4.62
WAL to Worst
as of 28/Jun/2024
8.27
Standard Deviation (3y)
as of 30/Jun/2024
8.70%
Yield to Maturity
as of 28/Jun/2024
6.61
Weighted Average YTM
as of 28/Jun/2024
6.50%
Weighted Avg Maturity
as of 28/Jun/2024
8.27

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 includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. The Fund manager has developed internal research signals to help evaluate corporate issuers on climate, governance and human capital issues. ESG information may be sourced from both internal and external sources. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion, where appropriate, 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 28/Jun/2024
Name Weight (%)
DAVITA INC 144A 4.625 06/01/2030 0.38
DIRECTV FINANCING LLC 144A 5.875 08/15/2027 0.36
POLAND (REPUBLIC OF) 5.5 03/18/2054 0.35
BATH & BODY WORKS INC 6.875 11/01/2035 0.35
ENERGEAN PLC 144A 6.5 04/30/2027 0.34
Name Weight (%)
COINBASE GLOBAL INC 144A 3.375 10/01/2028 0.32
ORGANON & CO 144A 7.875 05/15/2034 0.30
BURFORD CAPITAL GLOBAL FINANCE LLC 144A 9.25 07/01/2031 0.29
URUGUAY (ORIENTAL REPUBLIC OF) 5.1 06/18/2050 0.28
COOPERATIEVE RABOBANK UA MTN 144A 1.339 06/24/2026 0.28
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/2024

% of Market Value

Type Fund Benchmark Net
as of 28/Jun/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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class D Acc GBP 1.07 0.00 -0.07 19/Jul/2024 1.07 0.95 GB00BFBFY283
Class D Inc GBP 0.90 0.00 -0.07 19/Jul/2024 0.90 0.82 GB00BFBFY390
Class I Acc GBP 1.07 0.00 -0.07 19/Jul/2024 1.07 0.95 GB00BFBFY408
Class I Inc GBP 0.90 0.00 -0.07 19/Jul/2024 0.90 0.82 GB00BFBFY515
Class X Acc GBP 1.08 0.00 -0.07 19/Jul/2024 1.08 0.96 GB00BFBFY622
Class X Inc GBP 0.90 0.00 -0.07 19/Jul/2024 0.90 0.82 GB00BFBFY739

Portfolio Managers

Portfolio Managers

Missing portfolio manager content

Literature

Literature