Real Estate

BSF Global Real Asset Securities Fund

  • NAV as of 09/Jun/2023 RMB 738.03
    52 WK: 652.47 - 919.38
  • 1 Day NAV Change as of 09/Jun/2023 4.03 (0.55%)

Overview

Investment Approach


The Fund aims to achieve a return on your investment through a combination of capital growth and income on the Fund’s assets.

The Fund will seek to achieve this by investing globally at least 70% of its total assets in the equity securities and equity-related securities of companies, whose main business is in the real estate and infrastructure sectors as further disclosed in the prospectus.The equity-related securities may include financial derivative instruments (FDIs) (i.e. contracts whose value is based on one or more underlying assets).

The Fund will utilise a variety of investment strategies and instruments.

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.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

Performance chart data not available for display.
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Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

Distributions

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable Date Total Distribution

This chart shows the fund's performance as the percentage loss or gain per year over the last 0 years.

  2018 2019 2020 2021 2022
Total Return (%)
Constraint Benchmark 1 (%)

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

  1y 3y 5y 10y Incept.
Total Return (%) -15.45 - - - -16.99
Constraint Benchmark 1 (%) -12.26 - - - -11.96
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 2.37 -4.15 -2.09 1.32 -15.45 - - - -19.82
Constraint Benchmark 1 (%) 0.17 -5.38 -3.44 -1.18 -12.26 - - - -14.02
  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		 From
31-Mar-2022
To
31-Mar-2023
Total Return (%)

as of 31/Mar/2023

- - - - -20.95
Constraint Benchmark 1 (%)

as of 31/Mar/2023

- - - - -14.62

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 CNH 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 09/Jun/2023 USD 1,000,404,070
Share Class launch date 23/Mar/2022
Fund Launch Date 30/Nov/2017
Share Class Currency CNH
Fund Base Currency USD
Asset Class Real Estate
Constraint Benchmark 1 FTSE EPRA/Nareit Developed Dividend+ Index (50%) and FTSE Global Developed Core Infrastructure 50/50 Index (50%)
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.52%
Annual Management Fee 1.20%
Performance Fee 0.00%
Minimum Initial Investment RMB 5,000.00
Minimum Subsequent Investment RMB 1,000.00
Distribution Frequency -
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BLRAA3C
ISIN LU2451793678
SEDOL BPSJM41

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31/May/2023 55
12m Trailing Yield as of 31/May/2023 10.54
Standard Deviation (3y) as of - -
3y Beta as of - -
P/CF Ratio as of 31/May/2023 10.00
P/B Ratio as of 31/May/2023 1.27

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics 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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of 19/May/2023 AA
MSCI ESG % Coverage as of 19/May/2023 92.72
MSCI ESG Quality Score (0-10) as of 19/May/2023 7.25
MSCI ESG Quality Score - Peer Percentile as of 19/May/2023 65.49
Fund Lipper Global Classification as of 19/May/2023 Equity Global
Funds in Peer Group as of 19/May/2023 5,373
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 19/May/2023 167.03
MSCI Weighted Average Carbon Intensity % Coverage as of 19/May/2023 87.61
All data is from MSCI ESG Fund Ratings as of 19/May/2023, based on holdings as of 31/Jan/2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) 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.

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/2023 0.00%
MSCI - UN Global Compact Violators as of 31/May/2023 0.00%
MSCI - Nuclear Weapons as of 31/May/2023 0.00%
MSCI - Thermal Coal as of 31/May/2023 0.00%
MSCI - Civilian Firearms as of 31/May/2023 0.00%
MSCI - Oil Sands as of 31/May/2023 0.00%
MSCI - Tobacco as of 31/May/2023 0.00%
Business Involvement Coverage as of 31/May/2023 96.91%
Percentage of Fund not covered as of 31/May/2023 3.82%
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 0.00%.

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 initial screening, sourcing and due diligence phases of the investment process. This may include the use of internal ESG due diligence templates to identify, analyze and document key ESG risks, and the use of thematic environmental, social and governance information sourced from both primary sources and third-party data providers. Identified material ESG risks are included in Investment Committee material and, where appropriate, discussed at relevant Investment Committee meetings. This information broadly informs the investment approach and may be considered in investment decisions or security selection. The Fund manager also considers ESG criteria during post-investment monitoring and conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks.

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 31/May/2023
Name Weight (%)
SUN COMMUNITIES REIT INC 4.44
ENEL 3.98
EDP ENERGIAS DE PORTUGAL SA 3.70
CK ASSET HOLDINGS LTD 3.65
SALIK COMPANY PJSC 3.37
Name Weight (%)
VONOVIA SE 3.26
PROLOGIS REIT INC 3.19
ALEXANDRIA REAL ESTATE EQUITIES RE 3.08
TERNA RETE ELETTRICA NAZIONALE 3.04
LINK REAL ESTATE INVESTMENT TRUST 2.97
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/May/2023

% of Market Value

Type Fund Benchmark Net
as of 31/May/2023

% of Market Value

Type Fund Benchmark Net
as of 31/May/2023

% of Market Value

Type Fund Benchmark Net
as of 31/May/2023

% 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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class A3 Hedged CNH - 738.03 4.03 0.55 09/Jun/2023 919.38 652.47 LU2451793678 -
Class I3 USD Monthly 100.16 0.56 0.56 09/Jun/2023 100.16 99.60 LU2619284420 -
Class A5 Hedged CHF - 69.14 0.37 0.54 09/Jun/2023 88.55 61.05 LU2412548872 -
Class S5 Hedged CHF Quarterly 87.40 0.47 0.54 09/Jun/2023 104.04 76.82 LU2412549508 -
Class A3 Hedged SGD Monthly 69.91 0.39 0.56 09/Jun/2023 86.45 61.43 LU2070343632 -
Class A3 Hedged HKD Monthly 71.05 0.39 0.55 09/Jun/2023 87.18 62.26 LU2070343715 -
Class A2 Hedged CHF - 77.37 0.42 0.55 09/Jun/2023 89.56 65.31 LU2412548799 -
Class S2 USD - 83.48 0.47 0.57 09/Jun/2023 91.09 67.90 LU2412548955 -
Class A3 Hedged AUD - 73.13 0.38 0.52 09/Jun/2023 91.75 64.80 LU2451793322 -
Class S2 Hedged EUR - 78.95 0.45 0.57 09/Jun/2023 90.10 65.92 LU2412549094 -
Class S3 Hedged EUR Monthly 86.55 0.48 0.56 09/Jun/2023 104.00 76.73 LU2499270150 -
Class S2 Hedged GBP - 80.28 0.44 0.55 09/Jun/2023 90.40 66.41 LU2412549250 -
Class I3 Hedged EUR - 72.96 0.41 0.57 09/Jun/2023 91.52 64.51 LU2440224645 -
Class D3 GBP Monthly 84.57 0.10 0.12 09/Jun/2023 101.53 82.12 LU2508726747 -
Class S2 Hedged CHF - 78.26 0.42 0.54 09/Jun/2023 89.92 65.76 LU2412549177 -
Class S5 Hedged GBP Quarterly 89.04 0.50 0.56 09/Jun/2023 104.13 77.01 LU2412549680 -
Class D3 Hedged SGD - 68.67 0.38 0.56 09/Jun/2023 84.42 60.09 LU2364470067 -
Class A3 Hedged EUR - 66.18 0.37 0.56 09/Jun/2023 83.51 58.89 LU2099546561 -
Class A2 Hedged EUR - 78.17 0.44 0.57 09/Jun/2023 89.79 65.57 LU2412548526 -
Class A3 USD Monthly 71.73 0.39 0.55 09/Jun/2023 86.93 62.30 LU2070343558 -
Class A3 Hedged CAD - 74.39 0.40 0.54 09/Jun/2023 91.82 65.23 LU2451793595 -
Class S3 Hedged SGD Monthly 88.09 0.49 0.56 09/Jun/2023 104.09 77.06 LU2499270234 -
Class A2 USD None 115.93 0.64 0.56 09/Jun/2023 127.42 94.73 LU1669035997 -
Class S3 USD Monthly 89.99 0.50 0.56 09/Jun/2023 104.14 77.75 LU2499270077 -
Class D3 USD Monthly 73.81 0.41 0.56 09/Jun/2023 88.76 63.79 LU2047633727 -
Class X2 USD None 125.52 0.70 0.56 09/Jun/2023 135.99 101.61 LU1669037183 -
Class Z2 USD None 121.80 0.68 0.56 09/Jun/2023 132.67 98.95 LU1721361928 -
Class D2 USD None 119.81 0.67 0.56 09/Jun/2023 130.89 97.52 LU1669036458 -

Portfolio Managers

Portfolio Managers

James Wilkinson
James Wilkinson
Alastair Gillespie
Alastair Gillespie
Mark Howard-Johnson
Mark Howard-Johnson

Literature

Literature