Equity

BSF European Absolute Return Fund

Overview

Important Information: Capital at Risk. 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. The strategies utilised 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 be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of the fund.

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

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Performance

Performance

  • Returns

  From
31-Mar-2015
To
31-Mar-2016
From
31-Mar-2016
To
31-Mar-2017
From
31-Mar-2017
To
31-Mar-2018
From
31-Mar-2018
To
31-Mar-2019
From
31-Mar-2019
To
31-Mar-2020
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of 31-Mar-20

3.18 -6.02 4.29 3.78 4.19
Benchmark (%) Index: LIBOR 3 Month Index<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

as of 31-Mar-20

-0.08 -0.32 -0.38 -0.35 -0.42

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in EUR, hedged Share Class Benchmark performance is displayed in EUR.

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

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Reinvestments

This product does not have any distributions data as of now.

Key Facts

Key Facts

Size of Fund (Millions) as of 25-May-20 EUR 1,280.385
Base Currency Euro
Fund Launch Date 27-Feb-09
Share Class launch date 27-Feb-09
Asset Class Equity
Morningstar Category Alt - Market Neutral - Equity
Benchmark Index LIBOR 3 Month Index
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU0411704413
Bloomberg Ticker BLEURAA
Initial Charge 5.00%
Performance Fee 20.00%
SEDOL B4Y52B3
Bloomberg Benchmark Ticker ECC0TR03
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment EUR 1000
Use of Income Accumulating

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, sustainability characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

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.


Transparency on Business Involvement metrics is not indicative of a fund’s investment objective, and, unless otherwise stated in Fund documentation and included within a Fund’s investment objective, ESG integration does not change a Fund’s investment objective or constrain the Investment Manager’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.


Business Involvement metrics are calculated using MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this research 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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Holdings

Holdings

as of 30-Apr-20
Name Weight (%)
ROYAL UNIBREW A/S 3.86
RELX PLC 3.42
LONZA GROUP AG 3.20
NOVO NORDISK A/S 3.13
DSV PANALPINA A/S 3.03
Name Weight (%)
EXPERIAN PLC 2.42
BRITISH AMERICAN TOBACCO PLC 2.40
SIKA AG 2.16
SAFRAN SA 1.88
IMCD NV 1.61
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Apr-20

% of Market Value

Type Long Short Net
as of 30-Apr-20

% of Market Value

Type Long Short Net
as of 30-Apr-20

% of Market Value

Type Long Short 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class A2 EUR None 143.26 0.31 0.22 143.26 131.86 - LU0411704413 - -
Class A4 EUR Annual 143.20 0.30 0.21 143.20 131.81 - LU0414668557 - -
Class I2 EUR None 152.29 0.33 0.22 152.29 139.75 - LU0776931064 - -
Class D2 EUR None 149.53 0.32 0.21 149.53 137.37 - LU0414666189 - -
Class D2 Hedged CHF None 145.17 0.31 0.21 145.17 133.57 - LU0748867792 - -
Class D2 Hedged GBP None 157.92 0.35 0.22 157.92 144.69 - LU0802637750 - -
Class D4 EUR Annual 147.10 0.32 0.22 147.10 135.13 - LU0827970921 - -

Portfolio Managers

Portfolio Managers

David Tovey
David Tovey
Stefan Gries
Stefan Gries

Literature

Literature