Equity

BlackRock European Absolute Alpha Fund

  • Bid price as of 31/May/2024 GBP 1.87
  • Offer price as of 31/May/2024 GBP 1.87
  • Morningstar Rating

Overview

Investment Approach

A fund may, in accordance with the COLL Sourcebook, limit the issue of units in the fund, or the issue of any particular class(es) of units in the fund, to a prescribed net asset value (NAV) or number of units (Limit). The Limit for European Absolute Alpha (the Fund) was £700,000,000 and is now being increased to £900,000,000. This change is to take effect immediately. When the NAV of the Fund reaches £900,000,000, units in the Fund will not be available to buy until further notice, except at the discretion of the manager of the Fund (you will still be able to sell your units daily). If you have any queries in relation to this notice, please contact the Investor Services Team on 0800 445522.
The Fund aims to achieve positive absolute returns on your investment (i.e. an increase in the overall value of the Fund) over a period of 12 months regardless of market conditions. As such, the Fund will not be managed against any European equity index. The Fund will be managed with the aim of delivering absolute (more than zero) returns on a 12 month basis in any market conditions. However, an absolute return is not guaranteed over a 12 month or any period and the Fund may experience periods of negative return. The Fund’s capital is at risk. The Fund aims to gain investment exposure to equity securities (e.g. shares) and equity-related securities of, or giving exposure to, companies incorporated or listed in the European Economic Area and Switzerland.

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.

The value of your investment and the income from it will vary and your initial investment amount is not guaranteed.



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

The Fund may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. If these companies become insolvent, it may have an adverse affect on the activities of the fund. The value of this Fund does not typically move in line with general market trends and is not expected to reap the full benefits of a rising stock market. Investment strategies employed by the manager may affect the risk profile of the fund, as both positive and negative share movements affect the overall value of the Fund.
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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 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 1.0 9.4 -5.2 5.0 4.8 2.9 9.9 8.6 -2.7 6.7
Comparator Benchmark 1 (%) 0.5 0.6 0.5 0.4 0.7 0.8 0.3 0.1 1.5 4.8

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 (%) 9.29 5.97 5.67 4.25 4.61
Comparator Benchmark 1 (%) 5.31 2.72 1.79 1.17 1.03
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 4.56 -2.11 2.06 7.37 9.29 19.00 31.77 51.65 97.29
Comparator Benchmark 1 (%) 1.78 0.44 1.32 2.68 5.31 8.38 9.29 12.38 16.69
  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		 From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of 31/Mar/2024

6.18 1.85 10.75 0.03 12.44
Comparator Benchmark 1 (%)

as of 31/Mar/2024

0.76 0.14 0.20 2.36 5.22

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 31/May/2024
GBP 336,620,613
Fund Launch Date
31/Mar/2009
Fund Base Currency
GBP
Comparator Benchmark 1
3 Month SONIA Compounded in Arrears + 11.9 basis points spread
Initial Charge
0.00%
ISIN
GB00B4Y62W78
Performance Fee
20.00%
Minimum Subsequent Investment
GBP 100.00
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BLEUADA
Ongoing Charges Figure ex. Discount
0.92%
Share Class launch date
31/Mar/2009
Share Class Currency
GBP
Asset Class
Equity
Investment Association Category
-
Ongoing Charges Figures
0.92%
Annual Management Fee
0.75%
Minimum Initial Investment
GBP 100,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Equity Market Neutral Other
Dealing Frequency
Daily, forward pricing basis
SEDOL
B4Y62W7
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Apr/2024
117
3y Beta
as of 30/Apr/2024
0.466
P/B Ratio
as of 30/Apr/2024
-0.24
Standard Deviation (3y)
as of 30/Apr/2024
6.28%
P/E Ratio
as of 30/Apr/2024
-13.27

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 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
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3
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7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BlackRock European Absolute Alpha Fund, Class D, as of 30/Apr/2024 rated against 71 Equity Market Neutral Other Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 14/Nov/2023)

Holdings

Holdings

as of 30/Apr/2024
Name Weight (%)
NOVO NORDISK A/S 4.64
LINDE PLC 2.97
RELX PLC 2.86
LONDON STOCK EXCHANGE GROUP PLC 2.58
MTU AERO ENGINES AG 2.56
Name Weight (%)
ASML HOLDING NV 2.24
ASR NEDERLAND NV 2.22
LOREAL SA 2.15
UNICREDIT SPA 2.13
AIB GROUP PLC 2.13
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Apr/2024

% of Market Value

Type Fund
as of 30/Apr/2024

% of Market Value

Type Fund
Sorry, market cap data is 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 Bid Price Offer Price ISIN
Class D GBP 1.87 1.87 GB00B4Y62W78
Class X GBP 1.42 1.42 GB00BFK3LQ65
Class P GBP 1.69 1.69 GB00B4Y62T40

Portfolio Managers

Portfolio Managers

Stephanie Bothwell
Stephanie Bothwell
Stefan Gries
Stefan Gries
Managing Director

Managing Director and Portfolio Manager, is Head of the European Equity team within BlackRock’s Fundamental Equity Group.

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Stefan Gries, CFA, Managing Director and Portfolio Manager, is Head of the European Equity team within BlackRock’s Fundamental Equity Group. He manages the Pan European equity strategies, including the BGF European Fund and the BGF European Special Situations Fund. He is also co-Manager on the Continental Europe ex-UK portfolios and the Greater European Investment Trust as well as the European Absolute return (long/short) portfolios.

Prior to joining Blackrock in 2008, Stefan spent 2 years at Scottish Widows Investment Partnership where he completed a 2-year graduate program. Since joining BlackRock, he has worked both as a Portfolio Manager and as a Research Analyst covering, at various times, Energy, Pharmaceuticals and Insurance on behalf of the European Equity team.

Stefan earned an MA in Economics & Spanish from the University of St. Andrews in 2005. 

Literature

Literature