Skip to content

Fixed Income

BSF Fixed Income Strategies 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 fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. The fund invests in high yielding bonds. Companies who issue higher yield bonds typically have an increased risk of defaulting on repayments. In the event of default, the value of your investment may reduce. Economic conditions and interest rate levels may also impact significantly the values of high yield bonds. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets. Derivatives may be used substantially for complex investment strategies. These include the creation of short positions where the Investment Manager artificially sells an investment it does not physically own. Derivatives can also be used to generate exposure to investments greater than the net asset value of the fund / investment trust. Investment Managers refer to this practice as obtaining market leverage or gearing. As a result, a small positive or negative movement in stockmarkets will have a larger impact on the value of these derivatives than owning the physical investments. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Funds.

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

Show Fewer
Loading

Performance

Performance

  • Returns

  From
30-Sep-2014
To
30-Sep-2015
From
30-Sep-2015
To
30-Sep-2016
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of 30-Sep-19

0.15 0.51 1.06 -1.47 -0.70
  1y 3y 5y 10y Incept.
-0.70 -0.38 -0.07 - 0.22
  YTD 1m 3m 1y 3y 5y 10y Incept.
1.06 -0.08 0.09 -0.70 -1.13 -0.35 - 1.21

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

Share Class and Benchmark performance displayed in CHF, hedged fund 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

Chart

Performance chart data not available for display.
View full chart

Distributions

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

Key Facts

Key Facts

Size of Fund (Millions) as of 14-Oct-19 EUR 7,495.906
Base Currency Euro
Fund Launch Date 30-Sep-09
Share Class launch date 02-Apr-14
Asset Class Fixed Income
Morningstar Category Alt - Long/Short Credit
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
ISIN LU1046547201
Bloomberg Ticker BRFIA4C
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL BKS8LQ8
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment CHF 5000
Minimum Subsequent Investment CHF 1000
Use of Income Distributing

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for BSF Fixed Income Strategies Fund, Class A4 Hedged, as of 31-Jul-18 rated against 82 Alt - Long/Short Credit Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 24-Jul-19)

Holdings

Holdings

as of 30-Aug-19
Name Weight (%)
ITALY (REPUBLIC OF) 9.48
KFW 6.38
SPAIN (KINGDOM OF) 6.32
JAPAN (GOVERNMENT OF) 2.94
FRANCE (REPUBLIC OF) 2.50
Name Weight (%)
GREECE REPUBLIC OF (GOVERNMENT) 2.45
NYKREDIT REALKREDIT A/S 1.62
UNITED STATES TREASURY 1.62
EUROPEAN FINANCIAL STABILITY FACILITY 1.58
AUSTRIA (REPUBLIC OF) 1.55
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Aug-19

% of Market Value

Type Fund
as of 30-Aug-19

% of Market Value

Type Fund
as of 30-Aug-19

% of Market Value

Type Fund
Allocations subject to change.
as of 30-Aug-19

% of Market Value

Type Fund
as of 30-Aug-19

% of Market Value

Type Fund
as of 30-Aug-19

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class A4 Hedged CHF Annual 101.03 0.13 0.13 101.43 99.58 - LU1046547201 - -
Class A4 EUR Annual 104.58 0.14 0.13 104.85 102.68 - LU1040967272 - -
Class I5 EUR Quarterly 122.07 0.17 0.14 122.34 119.79 - LU1129992720 - -
Class A2 EUR None 120.07 0.16 0.13 120.39 117.89 - LU0438336264 - -
Class D2 Hedged CHF None 102.78 0.13 0.13 103.09 100.98 - LU1090193647 - -
Class A2 Hedged CHF None 101.35 0.14 0.14 101.74 99.89 - LU0589446532 - -
Class D2 Hedged GBP None 109.53 0.15 0.14 109.53 106.24 - LU1117534401 - -
Class D2 EUR None 124.88 0.17 0.14 125.10 122.24 - LU0438336421 - -
Class A2 Hedged JPY - 10,099.35 12.51 0.12 10,126.52 9,994.90 - LU1948809105 - -
Class I2 EUR None 125.55 0.17 0.14 125.72 122.71 - LU0438336777 - -
Class D2 Hedged USD None 115.11 0.15 0.13 115.11 109.91 - LU1090194454 - -
Class D5 Hedged GBP Quarterly 107.51 0.15 0.14 107.54 104.69 - LU1117534666 - -
Class D3 Hedged USD Monthly 111.48 0.14 0.13 111.48 106.75 - LU1193909402 - -
Class A4 Hedged USD Annual 113.35 0.14 0.12 113.35 108.56 - LU1046548191 - -
Class I2 Hedged USD None 105.31 0.14 0.13 105.31 100.41 - LU1728038651 - -
Class D4 EUR Annual 103.62 0.14 0.14 103.81 101.93 - LU1090193134 - -
Class A2 Hedged GBP None 105.10 0.14 0.13 105.10 102.26 - LU1200840038 - -
Class A2 Hedged USD None 113.76 0.15 0.13 113.76 108.96 - LU1046547540 - -
Class I2 Hedged SEK None 1,055.30 1.01 0.10 1,058.28 1,033.02 - LU1079026941 - -

Portfolio Managers

Portfolio Managers

Michael Krautzberger
Head, BlackRock’s Pan-European Fixed Income Team

     

Tom Mondelaers
Tom Mondelaers
Johan Sjogren
Johan Sjogren

Literature

Literature