Equity

BSF Asia Pacific 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.

All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. 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. Compared to more established economies, the value of investments in developing Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability. Investments in China are subject to certain additional risks, particularly regarding the ability to deal in equity securities in China due to issues relating to liquidity and the repatriation of capital. As a result, the Fund may choose to gain exposure to Chinese equities indirectly and may be unable to gain full exposure to the Chinese equity markets. The strategies utilized 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 invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares. The fund may invest in exchange traded funds which have exposure to property securities and commodities (through an index). Property investments are subject to adverse changes in economic conditions, adverse local market conditions and risks associated with the acquisition, financing and ownership and operation and disposal of real property. The underlying commodities index may concentrate investment on selected commodity futures of multinational markets. This makes the exchange traded fund extremely dependent on the performance of the commodity markets concerned. The Fund may invest more than 10% of its Net Asset Value in the units of UCITS and/or other UCIs.

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

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

  2019 2020 2021 2022 2023
Total Return (%)
Comparator 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.
10.73 - - - 7.82
Comparator Benchmark 1 (%) 5.44 - - - 5.40
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
6.43 2.37 2.07 6.43 10.73 - - - 8.34
Comparator Benchmark 1 (%) 2.68 0.44 1.33 2.68 5.44 - - - 5.75
  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

- - - - 10.73
Comparator Benchmark 1 (%)

as of 30/Jun/2024

- - - - 5.44

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 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 12/Jul/2024
USD 147,437,854
Fund Launch Date
31/Aug/2016
Fund Base Currency
USD
Comparator Benchmark 1
3 Month SONIA Compounded in Arrears + 11.9 basis points spread
Initial Charge
5.00%
ISIN
LU2615938151
Performance Fee
20.00%
Minimum Subsequent Investment
GBP 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BSAPAD2
Share Class launch date
07/Jun/2023
Share Class Currency
GBP
Asset Class
Equity
SFDR Classification
Other
Ongoing Charges Figures
1.42%
Annual Management Fee
1.00%
Minimum Initial Investment
GBP 100,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BMFG5G7

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28/Jun/2024
80
3y Beta
as of -
-
P/B Ratio
as of 28/Jun/2024
12.20
Standard Deviation (3y)
as of -
-
P/E Ratio
as of 28/Jun/2024
26.42

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 phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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 (%)
SAMSUNG ELECTRONICS CO LTD 3.24
FUYAO GLASS INDUSTRY GROUP CO LTD 2.84
ULTRATECH CEMENT LTD 2.84
HYUNDAI-ROTEM CO 2.83
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 2.68
Name Weight (%)
BANK OF THE PHILIPPINE ISLANDS 2.61
MAHINDRA AND MAHINDRA LTD 2.57
CP ALL PCL 2.48
TENCENT HOLDINGS LTD 2.40
ADVANCED INFO SERVICE PCL 2.37
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
as of 28/Jun/2024

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class D2 GBP 104.82 -1.04 -0.98 12/Jul/2024 109.10 93.19 LU2615938151
Class A4 Hedged EUR 116.65 -0.73 -0.62 12/Jul/2024 117.85 104.30 LU1417813919
Class Z2 Hedged GBP 108.86 -0.69 -0.63 12/Jul/2024 109.99 95.58 LU2634581255
Class A2 EUR 137.65 -0.99 -0.71 12/Jul/2024 141.12 120.04 LU1417813836
Class A2 GBP 128.91 -1.29 -0.99 12/Jul/2024 134.31 114.92 LU1513020419
Class A2 USD 111.43 -0.71 -0.63 12/Jul/2024 112.57 99.71 LU2649165938
Class D2 Hedged EUR 121.28 -0.77 -0.63 12/Jul/2024 122.53 108.17 LU1495982511
Class Z2 Hedged EUR 123.82 -0.80 -0.64 12/Jul/2024 125.14 109.93 LU1417814487
Class Z2 Hedged CHF 117.92 -0.84 -0.71 12/Jul/2024 119.31 107.15 LU1417814560
Class D2 USD 139.56 -0.88 -0.63 12/Jul/2024 140.97 122.74 LU1495982438
Class Z2 GBP 109.32 -1.11 -1.01 12/Jul/2024 113.69 96.80 LU2634581172
Class D2 Hedged GBP 129.39 -0.80 -0.61 12/Jul/2024 130.68 114.01 LU1417814057
Class D2 EUR 143.54 -1.02 -0.71 12/Jul/2024 147.12 124.88 LU1495982602
Class Z2 USD 143.04 -0.95 -0.66 12/Jul/2024 144.57 125.38 LU1417814305

Portfolio Managers

Portfolio Managers

Samuel Vecht
Samuel Vecht
Steve Wong
Steve Wong
Ada Zhang
Ada Zhang

Literature

Literature