Equity

BlackRock UK Smaller Companies Fund

Overview

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.


Investments in smaller company shares can be more unpredictable and less liquid than those of larger company shares.

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

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Distributions

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

This chart shows the fund's performance as the percentage loss or gain per year over the last 8 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 10.0 32.6 -11.5 31.8 4.2 25.8 -28.2 1.2
Constraint Benchmark 1 (%) 12.0 21.9 -15.8 22.2 4.9 20.0 -21.9 3.2
Comparator Benchmark 2 (%) 8.5 27.1 -11.8 25.4 7.0 20.8 -25.7 0.5

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
-3.19 -4.48 3.25 - 6.52
Constraint Benchmark 1 (%) -5.80 -4.03 2.28 - 3.98
Comparator Benchmark 2 (%) -3.97 -5.31 2.47 - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-2.52 -1.93 4.95 4.00 -3.19 -12.84 17.36 - 75.97
Constraint Benchmark 1 (%) -3.75 -2.19 4.47 1.22 -5.80 -11.61 11.92 - 41.81
Comparator Benchmark 2 (%) -1.59 -1.40 5.36 3.90 -3.97 -15.09 12.96 - -
  From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
From
31-Dec-2022
To
31-Dec-2023
Total Return (%)

as of 31/Dec/2023

31.84 4.21 25.81 -28.23 1.16
Constraint Benchmark 1 (%)

as of 31/Dec/2023

22.16 4.93 20.03 -21.93 3.21
Comparator Benchmark 2 (%)

as of 31/Dec/2023

25.43 7.01 20.77 -25.67 0.46

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 28/Mar/2024 GBP 402,756,813
Share Class launch date 20/Mar/2015
Fund Launch Date 08/May/1987
Share Class Currency GBP
Fund Base Currency GBP
Asset Class Equity
Constraint Benchmark 1 Numis Smaller Companies plus AIM ex-Investment Trusts Index
Comparator Benchmark 2 IA UK Smaller Companies Sector Ave
Investment Association Category UK Smaller Companies
Initial Charge 5.00%
Ongoing Charges Figures 0.83%
ISIN GB00BVW2JF81
Annual Management Fee 0.67%
Performance Fee 0.00%
Minimum Initial Investment GBP 50,000,000.00
Minimum Subsequent Investment GBP 50.00
Use of Income Distributing
Domicile United Kingdom
Regulatory Structure UCITS
Management Company BlackRock Fund Managers Ltd
Morningstar Category UK Small-Cap Equity
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BLUSCSG LN
SEDOL BVW2JF8
Ongoing Charges Figure ex. Discount 0.83%
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 29/Feb/2024 92
12 Month Trailing Dividend Distribution Yield as of 29/Feb/2024 2.01
Standard Deviation (3y) as of 29/Feb/2024 18.65%
3y Beta as of 29/Feb/2024 1.163
P/E Ratio as of 29/Feb/2024 15.25
P/B Ratio as of 29/Feb/2024 1.50

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of 21/Mar/2024 AA
MSCI ESG % Coverage as of 21/Mar/2024 85.56
MSCI ESG Quality Score (0-10) as of 21/Mar/2024 7.37
MSCI ESG Quality Score - Peer Percentile as of 21/Mar/2024 41.27
Fund Lipper Global Classification as of 21/Mar/2024 Equity UK Sm&Mid Cap
Funds in Peer Group as of 21/Mar/2024 252
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21/Mar/2024 82.25
MSCI Weighted Average Carbon Intensity % Coverage as of 21/Mar/2024 86.05
All data is from MSCI ESG Fund Ratings as of 21/Mar/2024, based on holdings as of 31/Oct/2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

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.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’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.

MSCI - Controversial Weapons as of 29/Feb/2024 0.00%
MSCI - UN Global Compact Violators as of 29/Feb/2024 0.00%
MSCI - Nuclear Weapons as of 29/Feb/2024 0.00%
MSCI - Thermal Coal as of 29/Feb/2024 0.00%
MSCI - Civilian Firearms as of 29/Feb/2024 0.00%
MSCI - Oil Sands as of 29/Feb/2024 0.00%
MSCI - Tobacco as of 29/Feb/2024 0.00%

Business Involvement Coverage as of 29/Feb/2024 99.95%
Percentage of Fund not covered as of 29/Feb/2024 0.05%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data 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. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

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

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BlackRock UK Smaller Companies Fund, Class S, as of 29/Feb/2024 rated against 233 UK Small-Cap Equity Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective 02/Nov/2023)

Holdings

Holdings

as of 29/Feb/2024
Name Weight (%)
GAMMA COMMUNICATIONS PLC 2.87
4IMPRINT GROUP PLC 2.70
BLOOMSBURY PUBLISHING PLC 2.31
CHEMRING GROUP PLC 2.30
WORKSPACE GROUP PLC 2.25
Name Weight (%)
HILL & SMITH PLC 2.24
BREEDON GROUP PLC 2.14
YOUGOV PLC 2.10
TATTON ASSET MANAGEMENT PLC 2.08
CVS GROUP PLC 1.92
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29/Feb/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Feb/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 Bid Price Offer Price ISIN
Class S GBP 1.57 1.59 GB00BVW2JF81
Class D GBP 11.89 12.09 GB00B4LHDZ30
Class D GBP 8.11 8.24 GB00B8BS3324
Class A GBP 7.99 8.12 GB0005811301
Class S GBP 1.76 1.79 GB00BW1YLZ63
Class X ACC GBP 1.02 1.04 GB00BN091Z92
Class A GBP 10.78 10.96 GB0005811418

Portfolio Managers

Portfolio Managers

Roland Arnold
Roland Arnold

Literature

Literature