BlackRock Continental European Income Class D Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/19 to 30/11/20 |
30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
|
|---|---|---|---|---|---|
| Fund | 12.7% | 9.9% | -4.9% | 8.6% | 8.7% |
| Sector | 9.1% | 14.9% | -6.0% | 8.8% | 6.6% |
| Rank | 24/121 | 114/124 | 74/128 | 89/130 | 46/131 |
| Quartile | 1 | 4 | 3 | 3 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | 3.9% | 6.8% | 8.1% | |
| Sector | 2.9% | 6.5% | 7.5% | |
| Rank | 72/128 | 63/121 | 32/95 | |
| Quartile | 3 | 3 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| NOVO NORDISK A/S | 4.77 |
| ENEL - SPA | 4.24 |
| COMPAGNIE DE SAINT-GOBAIN | 4.18 |
| UNICREDIT SOCIETA' PER AZIONI | 3.63 |
| MUNCHENER RUCKVERSICHERUNGS AG | 3.44 |
| SAP SE | 3.33 |
| NORDEA BANK ABP | 3.21 |
| HOLCIM AG | 3.18 |
| VINCI | 3.13 |
| KBC GROEP NV | 3.13 |
| Total | 36.23 |
Fund Aims
The aim of the BlackRock Continental European Income Fund is to achieve an above average income from its equity investments, compared to the income yield of European equity markets (excluding the UK), without sacrificing long term capital growth. The Fund will invest primarily in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in Europe excluding the UK. The Fund may also invest in other transferable securities, permitted money market instruments, permitted deposits, cash and near cash and units in collective investment schemes. Derivatives may be used for the purposes of efficient portfolio management.
Fund Manager
Andreas Zoellinger, CFA, Director and assistant portfolio manager, is a member of the European Equity team within the Fundamental Equity division of BlackRock's Portfolio Management Group. Mr. Zoellinger is assistant portfolio manager for the BGF Euro Markets Fund and is responsible for covering Material stocks.
Mr. Zoellinger service with the firm dates back to 2001, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Prior to joining MLIM as an analyst within the European Equity team, he was a trainee with a major German bank.
Mr. Zoellinger earned a Diplom-Kaufmann degree in Business Administration from the University of Munich & the University of Edinburgh in 2001.
Fund Overview
| Bid (20/12/2024) | 181.68p |
| Offer (20/12/2024) | 181.99p |
| Historic yield | 3.45% |
| Fund size (31/10/2024) | £1323.40m |
| Number of holdings | 334 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.91% |
| Launch date | 06/05/2011 |
Asset Allocation
| International Equities | 96.85% | |
| UK Equities | 2.44% | |
| Money Market | 0.92% | |
| Alternative Trading Strategies | 0.00% | |
| Cash and Equivalents | -0.21% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 96.85% | |
| UK Equities | 2.44% | |
| Money Market | 0.92% | |
| Alternative Trading Strategies | 0.00% | |
| Cash and Equivalents | -0.21% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Industrials | 33.63% | - | - | - | |
| Industrial Goods & Services | - | 17.99% | - | - | |
| Industrial Transportation | - | - | 4.85% | - | |
| Commercial Vehicles & Parts | - | - | - | 2.65% | |
| Transportation Services | - | - | - | 2.19% | |
| Aerospace & Defence | - | - | 4.10% | - | |
| Defense | - | - | - | 2.29% | |
| Aerospace | - | - | - | 1.82% | |
| Industrial Engineering | - | - | 4.01% | - | |
| Machinery: Industrial | - | - | - | 2.57% | |
| Machinery: Construction & Handling | - | - | - | 1.43% | |
| Electronic & Electrical Equipment | - | - | 2.83% | - | |
| Electrical Components | - | - | - | 2.83% | |
| General Industrials | - | - | 2.21% | - | |
| Diversified Industrials | - | - | - | 2.21% | |
| Construction & Materials | - | 15.64% | - | - | |
| Construction & Materials | - | - | 15.64% | - | |
| Building Materials: Other | - | - | - | 6.88% | |
| Construction | - | - | - | 5.58% | |
| Cement | - | - | - | 3.18% | |
| Financials | 26.81% | - | - | - | |
| Banks | - | 12.22% | - | - | |
| Banks | - | - | 12.22% | - | |
| Banks | - | - | - | 12.22% | |
| Insurance | - | 10.76% | - | - | |
| Non-life Insurance | - | - | 10.76% | - | |
| Full Line Insurance | - | - | - | 7.32% | |
| Reinsurance | - | - | - | 3.44% | |
| Financial Services | - | 3.84% | - | - | |
| Investment Banking & Brokerage Services | - | - | 3.84% | - | |
| Asset Managers & Custodians | - | - | - | 3.84% | |
| Health Care | 13.95% | - | - | - | |
| Health Care | - | 13.95% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 13.95% | - | |
| Pharmaceuticals | - | - | - | 11.88% | |
| Biotechnology | - | - | - | 2.07% | |
| Consumer Discretionary | 8.24% | - | - | - | |
| Media | - | 3.50% | - | - | |
| Media | - | - | 3.50% | - | |
| Publishing | - | - | - | 3.50% | |
| Consumer Products & Services | - | 2.40% | - | - | |
| Personal Goods | - | - | 2.40% | - | |
| Luxury Items | - | - | - | 1.43% | |
| Clothing & Accessories | - | - | - | 0.96% | |
| Retail | - | 2.34% | - | - | |
| Retailers | - | - | 2.34% | - | |
| Apparel Retailers | - | - | - | 2.34% | |
| Technology | 7.34% | - | - | - | |
| Technology | - | 7.34% | - | - | |
| Software & Computer Services | - | - | 4.37% | - | |
| Software | - | - | - | 4.37% | |
| Technology Hardware & Equipment | - | - | 2.97% | - | |
| Production Technology Equipment | - | - | - | 2.97% | |
| Utilities | 4.24% | - | - | - | |
| Utilities | - | 4.24% | - | - | |
| Electricity | - | - | 4.24% | - | |
| Conventional Electricity | - | - | - | 4.24% | |
| Telecommunications | 2.81% | - | - | - | |
| Telecommunications | - | 2.81% | - | - | |
| Telecommunications Service Providers | - | - | 2.81% | - | |
| Telecommunications Services | - | - | - | 2.81% | |
| Basic Materials | 2.26% | - | - | - | |
| Chemicals | - | 2.26% | - | - | |
| Chemicals | - | - | 2.26% | - | |
| Chemicals: Diversified | - | - | - | 2.26% | |
| Cash and Equivalents | 0.72% | - | - | - | |
| Alternative Trading Strategies | 0.00% | - | - | - | |
| Alternative Trading Strategies | - | 0.00% | - | - | |
| Alternative Trading Strategies | - | - | 0.00% | - | |
| Alternative Trading Strategies | - | - | - | 0.00% | |
Regional Allocation
| Developed Europe - Excl UK | 94.71% | |
| UK | 2.44% | |
| Non-Classified | 2.13% | |
| Cash and Equivalents | 0.72% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 98.64% | |
| Cash | 1.01% | |
| Pound Sterling | 0.35% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 94.71% | - | |
France
|
- | 18.54% | |
Germany
|
- | 13.86% | |
Denmark
|
- | 12.16% | |
Netherlands
|
- | 10.27% | |
Switzerland
|
- | 9.43% | |
Italy
|
- | 7.86% | |
Sweden
|
- | 7.83% | |
Finland
|
- | 4.78% | |
Spain
|
- | 4.60% | |
Belgium
|
- | 3.13% | |
Ireland
|
- | 2.26% | |
| UK | 2.44% | - | |
United Kingdom
|
- | 2.44% | |
| Non-Classified | 2.13% | - | |
| Cash and Equivalents | 0.72% | - | |
Breakdown By Market Cap (%)
| Mega |
|
80.52% |
| Large |
|
8.33% |
| Non-Classified |
|
10.44% |
| Cash |
|
0.72% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | NOVO NORDISK A/S | 4.77% | Pharmaceuticals & Biotechnology | Denmark |
| 2 | ENEL - SPA | 4.24% | Electricity | Italy |
| 3 | COMPAGNIE DE SAINT-GOBAIN | 4.18% | Construction & Materials | France |
| 4 | UNICREDIT SOCIETA' PER AZIONI | 3.63% | Banks | Italy |
| 5 | MUNCHENER RUCKVERSICHERUNGS AG | 3.44% | Non-life Insurance | Germany |
| 6 | SAP SE | 3.33% | Software & Computer Services | Germany |
| 7 | NORDEA BANK ABP | 3.21% | Banks | Finland |
| 8 | HOLCIM AG | 3.18% | Construction & Materials | Switzerland |
| 9 | VINCI | 3.13% | Construction & Materials | France |
| 10 | KBC GROEP NV | 3.13% | Banks | Belgium |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 7.34% | - | - | - | - | - | - | 7.34% |
| Telecommunications | - | 2.81% | - | - | - | - | - | - | 2.81% |
| Financials | - | 26.81% | - | - | - | - | - | - | 26.81% |
| Consumer Discretionary | 2.44% | 5.80% | - | - | - | - | - | - | 8.24% |
| Utilities | - | 4.24% | - | - | - | - | - | - | 4.24% |
| Health Care | - | 13.95% | - | - | - | - | - | - | 13.95% |
| Industrials | - | 33.63% | - | - | - | - | - | - | 33.63% |
| Basic Materials | - | 2.26% | - | - | - | - | - | - | 2.26% |
| Cash and Equivalents | - | - | - | - | - | - | - | -0.21% | -0.21% |
| Non-Classified | - | - | - | - | - | - | - | 0.92% | 0.93% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B3Y7MQ7 |
| Mex Code | MYAABK |
| Isin Code | GB00B3Y7MQ71 |
| Citi Code | NOU3 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.91% |
Aims and Benchmark
| Aims | The aim of the BlackRock Continental European Income Fund is to achieve an above average income from its equity investments, compared to the income yield of European equity markets (excluding the UK), without sacrificing long term capital growth. The Fund will invest primarily in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in Europe excluding the UK. The Fund may also invest in other transferable securities, permitted money market instruments, permitted deposits, cash and near cash and units in collective investment schemes. Derivatives may be used for the purposes of efficient portfolio management. |
| Benchmark | FTSE All World Developed Europe Ex UK TR Index - in GBP Net Return |
| Benchmark Category | - |
| IA Sector | Europe Excluding UK |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Quarterly |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 December | 31 January |
| 01 March | 30 April |
| 01 June | 31 July |
| 01 September | 31 October |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | BNY Mellon Trust & Depositary (UK) Ltd |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | The Bank of New York Mellon SA/NV |
Group Details
| Group name | BlackRock Investment Management (UK) Limited |
| Group address | 12 Throgmorton Avenue London EC2N 2DL |
| Group telephone | 08457 405 405 |
| Dealing telephone | 0800 445522 |
| broker.services@blackrock.com | |
| Homepage | www.blackrock.co.uk |
| Fax number | 020 7743 1135 |
Dealing
| Minimum Investment | £100000 |
| Minimum Top Up | £100 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 1.87 |
| Beta | 0.85 |
| Sharpe | 0.04 |
| Standard Deviation | 11.67 |
| Info Ratio | 0.43 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Higher Risk
This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.