Please see the shareholder letter for more information.
Please see the shareholder letter for more information.
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 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 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. 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. 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 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. 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 market trends or fully benefit from a positive market environment. The Manager employs a risk management process to oversee and manage derivative exposure within the Fund. The Fund will attempt to reduce (or 'hedge') the risk of currency movements between the Base Currency and the currency in which some or all of the underlying investments are transacted. It should be noted that the hedging strategy employed will not completely eliminate the exposure of the Fund to movements between the Base Currency and these other currencies. The hedging strategies may be entered into whether the Base Currency is declining or increasing in value compared to the currency of the underlying investments. This may have a positive or negative impact on the performance 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

Performance
Performance
Chart
Reinvestments
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Returns
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
Key Facts
Key Facts
ESG Integration
ESG Integration
ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG 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 phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion 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
Ratings
Holdings
Holdings
Name | Weight (%) |
---|---|
ISHARES EURO ULTRASHORT BOND UCITS | 3.89 |
ISH EUR CORP BND 1-5 ETF EUR DIST | 2.34 |
AUSTRALIA (COMMONWEALTH OF) 1.75 06/21/2051 | 1.12 |
CHINA DEVELOPMENT BANK 2.89 06/22/2025 | 0.97 |
RMS_29 B RegS | 0.71 |
Name | Weight (%) |
---|---|
HFHL_20-2 B RegS | 0.68 |
OATH_2 A RegS | 0.67 |
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.85 06/04/2027 | 0.63 |
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.13 11/21/2029 | 0.63 |
SPAIN (KINGDOM OF) 0.5 04/30/2030 | 0.60 |
Exposure Breakdowns
Exposure Breakdowns
% of Market Value
% of Market Value
Pricing & Exchange
Investor Class | Currency | Distribution Frequency | NAV | NAV Amount Change | NAV % Change | 52wk High | 52wk Low | Bid Price | ISIN | Offer Price | TIS |
---|---|---|---|---|---|---|---|---|---|---|---|
Class I2 | EUR | None | 106.49 | -0.15 | -0.14 | 106.75 | 93.54 | - | LU1129992563 | - | - |
Class I2 Hedged | SEK | None | 1,060.43 | -1.39 | -0.13 | 1,062.78 | 927.82 | - | LU1129992647 | - | - |
Class A2 | EUR | None | 105.51 | -0.15 | -0.14 | 105.79 | 93.34 | - | LU0783530669 | - | - |
Class D2 | EUR | None | 110.09 | -0.14 | -0.13 | 110.36 | 96.88 | - | LU0802639707 | - | - |
Class I2 Hedged | GBP | - | 106.72 | -0.13 | -0.12 | 106.95 | 93.31 | - | LU1834329234 | - | - |
Class A2 Hedged | SEK | None | 1,032.01 | -1.38 | -0.13 | 1,034.65 | 909.89 | - | LU0884611699 | - | - |
Class D2 Hedged | CHF | None | 102.88 | -0.16 | -0.16 | 103.14 | 90.27 | - | LU1311313644 | - | - |
Class A2 Hedged | USD | None | 114.74 | -0.15 | -0.13 | 115.01 | 100.29 | - | LU0972010309 | - | - |
Portfolio Managers
Portfolio Managers


Managing Director, is Head of the Fundamental Sterling Team within BlackRock's Global Fixed Income (GFI) Group.


