Fixed Income

BlackRock Euro Credit Enhanced Index Fund

  • NAV as of 30/May/2024 EUR 9.34
    52 WK: 8.91 - 9.53
  • 1 Day NAV Change as of 30/May/2024 0.00 (0.02%)

Overview

Investment Approach


The Fund aims to achieve a total return on your investment, through a combination of capital growth and income, which aims to out-perform the return of the FTSE Non -EGBI Euro Broad Investment-Grade Index (the Index).

The Fund has an enhanced index strategy which differs from a pure-index tracking strategy. Although both strategies invest in a similar range of fixed income (FI) securities (such as bonds), enhanced strategies aim to take overweight and/or underweight positions relative to the benchmark index in order to achieve some outperformance of the benchmark index.

The Fund invests predominantly in the FI securities that make up the Index (which comprises credit bonds).

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

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Performance

Performance

Chart

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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

Ex-Date Total Distribution
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Ex-Date Total Distribution
For more information: +353 1 612 3394 • www.blackrock.com • investor.services@blackrock.com

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 (%) 8.4 0.2 3.6 1.6 -0.6 5.3 3.1 -1.9 -16.0 7.3
Target Benchmark 1 (%) 8.2 0.1 3.4 1.1 -0.2 5.0 2.8 -1.9 -15.4 7.4

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 (%) 4.33 -3.83 -1.55 0.48 1.19
Target Benchmark 1 (%) 4.09 -3.66 -1.50 0.44 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -0.81 -1.00 -0.73 4.58 4.33 -11.05 -7.51 4.95 14.87
Target Benchmark 1 (%) -1.00 -1.05 -0.92 4.35 4.09 -10.57 -7.29 4.49 -
  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

-1.11 5.70 -6.76 -9.09 5.81
Target Benchmark 1 (%)

as of 31/Mar/2024

-0.72 4.88 -6.25 -8.91 5.65

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 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

Key Facts

Key Facts

Net Assets
as of 30/May/2024
EUR 22,677,258
Share Class launch date
09/Aug/2012
Share Class Currency
EUR
Asset Class
Fixed Income
SFDR Classification
Other
Ongoing Charges Figures
0.20%
Annual Management Fee
0.17%
Minimum Initial Investment
EUR 250,000.00
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
EUR Corporate Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
B8138T8
Net Assets of Fund
as of 30/May/2024
EUR 1,284,679,902
Fund Launch Date
30/Jun/2003
Fund Base Currency
EUR
Target Benchmark 1
FTSE EuroBIG ex Domestic Treasury Index (EUR)
Initial Charge
0.00%
ISIN
IE00B8138T89
Performance Fee
-
Minimum Subsequent Investment
-
Domicile
Ireland
Management Company
BlackRock Asset Management Ireland Limited
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRECEEI

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Apr/2024
622
Standard Deviation (3y)
as of 30/Apr/2024
6.58%
Yield to Maturity
as of 30/Apr/2024
3.82
Weighted Average YTM
as of 30/Apr/2024
3.76%
Weighted Avg Maturity
as of 30/Apr/2024
6.07
12 Month Trailing Dividend Distribution Yield
as of 30/Apr/2024
1.74
3y Beta
as of 30/Apr/2024
1.035
Modified Duration
as of 30/Apr/2024
5.22
Effective Duration
as of 30/Apr/2024
5.26
WAL to Worst
as of 30/Apr/2024
6.07

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

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 30/Apr/2024)

Holdings

Holdings

as of 30/Apr/2024
Name Weight (%)
ISH CORE EURO CORP BND ETF EUR DIS 2.29
EUROPEAN UNION MTN RegS 3.75 04/04/2042 0.82
SAGE GROUP PLC MTN RegS 3.82 02/15/2028 0.76
KFW MTN RegS 0 09/30/2026 0.72
CRH SMW FINANCE DAC MTN RegS 4.25 07/11/2035 0.71
Name Weight (%)
EUROPEAN INVESTMENT BANK MTN RegS 2.75 09/15/2025 0.70
A1 TOWERS HOLDING GMBH RegS 5.25 07/13/2028 0.70
CAISSE AMORTISSEMENT DE LA DETTE S MTN RegS 0 02/25/2028 0.69
SMITHS GROUP PLC MTN RegS 2 02/23/2027 0.69
EUROPEAN UNION RegS 4 04/04/2044 0.68
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Apr/2024

% of Market Value

Type Fund Benchmark Net
as of 30/Apr/2024

% of Market Value

Type Fund Benchmark Net
as of 30/Apr/2024

% of Market Value

Type Fund Benchmark Net
as of 30/Apr/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
Inst EUR 9.34 0.00 0.02 30/May/2024 9.53 8.91 IE00B8138T89
Flex EUR 17.86 0.00 0.03 30/May/2024 18.04 16.86 GB0033157560
Flex EUR 10.74 -0.03 -0.27 31/Oct/2022 13.05 10.57 IE00B1JC0J29

Portfolio Managers

Portfolio Managers

Riyadh Ali
Riyadh Ali
Alessandro Ferrante
Alessandro Ferrante
Group SFI LO EMEA
Group SFI LO EMEA

Literature

Literature