BlackRock European Absolute Alpha Class D Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/06/19 to 30/06/20 |
30/06/20 to 30/06/21 |
30/06/21 to 30/06/22 |
30/06/22 to 30/06/23 |
30/06/23 to 30/06/24 |
|
|---|---|---|---|---|---|
| Fund | 7.2% | 3.0% | 4.5% | 2.7% | 11.7% |
| Sector | -0.4% | 7.2% | -0.7% | 1.5% | 8.0% |
| Rank | 10/66 | 55/69 | 13/73 | 28/78 | 12/78 |
| Quartile | 1 | 4 | 1 | 2 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/06/24 |
5 Years to 30/06/24 |
10 Years to 30/06/24 |
||
| Fund | 6.2% | 5.8% | 4.8% | |
| Sector | 2.9% | 3.1% | 2.4% | |
| Rank | 12/73 | 11/66 | 7/40 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| MIZUHO BANK LTD (LONDON BRANCH) | 6.10 |
| OMERS FINANCE TRUST | 5.26 |
| NOVO NORDISK A/S | 4.82 |
| PSP CAPITAL INC | 4.36 |
| SUMITOMO MITSUI TRUST BANK LTD (LO | 4.12 |
| MATCHPOINT FINANCE PLC RegS | 4.08 |
| MATCHPOINT FINANCE PLC RegS | 3.99 |
| ASML HOLDING N.V. | 3.25 |
| RELX | 2.99 |
| LINDE PUBLIC LIMITED COMPANY | 2.92 |
| Total | 41.90 |
Fund Aims
BlackRock European Absolute Alpha Fund seeks to achieve a positive absolute return for investors and, as such, the Fund will not be managed against any European equity index. The Fund will seek to achieve this investment objective by taking long positions and using derivatives to take synthetic long and synthetic short investment positions. The Fund will be managed with the aim of delivering absolute (more than zero) returns on a 12 month basis in any market conditions. However, an absolute return is not guaranteed over a 12 month or any period and the Fund may experience periods of negative return. The Fund’s capital is at risk. The Fund primarily aims to gain investment exposure to equities and equity-related securities of, or giving exposure to, companies incorporated or listed in the European Economic Area and Switzerland. In order to gain this exposure, the Fund invests primarily in derivatives, equities and equity-related securities and, when determined appropriate, cash and near cash. The Fund may also invest in other transferable securities, permitted money-market instruments, permitted deposits and units in collective investment schemes.
Fund Manager
Stefan Gries, Director, is the co-portfolio manager of Continental European funds and European Absolute Return portfolios.
He is a member of the European Equity team within the Fundamental Equity division of BlackRock’s Active Equity Group.
Prior to joining Blackrock in 2008, Mr Gries spent 2 years at Scottish Widows Investment Partnership where he completed a 2 year graduate program.
Since joining BlackRock, he has worked both as a portfolio manager and as an analyst covering, at various times, energy, pharmaceuticals and insurance on behalf of the European Equity team. Mr Gries earned an MA in Economics & Spanish from the University of St. Andrews in 2005.
David Tovey, CFA, Director and portfolio manager is a member of BlackRock's European equity team within BlackRock's Alpha Strategies group. He manages the BGF Swiss Small & Mid-Cap Opportunities Fund, the BlackRock Aletsch Fund, BSF European Opportunities Extension Fund, and is a co-manager of the BSF European Absolute Return Fund.
Mr. Tovey's service with the firm dates back to 1998, when he joined the graduate programme of Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, Mr. Tovey initially worked as an analyst on the US Small Cap team before joining the European Specialist team in September 1999, which joined the European Equity team in 2013.
Mr. Tovey earned a BSc degree in economics from Warwick University in 1998.
Fund Overview
| Bid (26/07/2024) | 187.11p |
| Offer (26/07/2024) | 187.18p |
| Historic yield | 0.00% |
| Fund size (31/05/2024) | £341.82m |
| Number of holdings | 409 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.91% |
| Launch date | 31/03/2009 |
Asset Allocation
| Cash and Equivalents | 38.97% | |
| International Equities | 10.92% | |
| Alternative Trading Strategies | 6.13% | |
| International Bonds | 4.12% | |
| UK Corporate Bonds | 0.29% | |
| Money Market | 0.11% | |
| UK Equities | -2.03% | |
| Other Assets | 41.48% |
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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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
| Cash and Equivalents | 38.97% | |
| International Equities | 10.92% | |
| Alternative Trading Strategies | 6.13% | |
| International Bonds | 4.12% | |
| UK Corporate Bonds | 0.29% | |
| Money Market | 0.11% | |
| UK Equities | -2.03% | |
| Other Assets | 41.48% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Non-Classified | 41.48% | - | - | - | |
| Cash and Equivalents | 39.08% | - | - | - | |
| Industrials | 14.28% | - | - | - | |
| Construction & Materials | - | 7.34% | - | - | |
| Construction & Materials | - | - | 7.34% | - | |
| Cement | - | - | - | 3.89% | |
| Building Materials: Other | - | - | - | 2.19% | |
| Construction | - | - | - | 1.26% | |
| Industrial Goods & Services | - | 6.93% | - | - | |
| Aerospace & Defence | - | - | 4.08% | - | |
| Aerospace | - | - | - | 4.08% | |
| Electronic & Electrical Equipment | - | - | 2.45% | - | |
| Electrical Components | - | - | - | 2.45% | |
| Industrial Transportation | - | - | 1.21% | - | |
| Commercial Vehicles & Parts | - | - | - | 1.28% | |
| Commercial Vehicle-Equipment Leasing | - | - | - | 1.26% | |
| Transportation Services | - | - | - | 0.08% | |
| Marine Transportation | - | - | - | -1.40% | |
| Industrial Engineering | - | - | 1.03% | - | |
| Machinery: Construction & Handling | - | - | - | 1.82% | |
| Machinery: Industrial | - | - | - | -0.78% | |
| General Industrials | - | - | -0.79% | - | |
| Diversified Industrials | - | - | - | -0.79% | |
| Industrial Support Services | - | - | -1.05% | - | |
| Professional Business Support Services | - | - | - | 0.85% | |
| Business Training & Employment Agencies | - | - | - | -0.77% | |
| Security Services | - | - | - | -1.13% | |
| Technology | 8.70% | - | - | - | |
| Technology | - | 8.70% | - | - | |
| Technology Hardware & Equipment | - | - | 6.82% | - | |
| Production Technology Equipment | - | - | - | 5.08% | |
| Semiconductors | - | - | - | 1.73% | |
| Software & Computer Services | - | - | 1.89% | - | |
| Computer Services | - | - | - | 1.36% | |
| Software | - | - | - | 0.53% | |
| Financials | 8.56% | - | - | - | |
| Banks | - | 5.32% | - | - | |
| Banks | - | - | 5.32% | - | |
| Banks | - | - | - | 5.32% | |
| Financial Services | - | 3.70% | - | - | |
| Finance & Credit Services | - | - | 2.76% | - | |
| Financial Data & Systems | - | - | - | 2.76% | |
| Investment Banking & Brokerage Services | - | - | 0.94% | - | |
| Asset Managers & Custodians | - | - | - | 0.94% | |
| Insurance | - | -0.46% | - | - | |
| Non-life Insurance | - | - | -0.46% | - | |
| Full Line Insurance | - | - | - | -0.46% | |
| Alternative Trading Strategies | 6.13% | - | - | - | |
| Alternative Trading Strategies | - | 6.13% | - | - | |
| Alternative Trading Strategies | - | - | 6.13% | - | |
| Alternative Trading Strategies | - | - | - | 6.13% | |
| Bonds | 4.41% | - | - | - | |
| Health Care | 2.92% | - | - | - | |
| Health Care | - | 2.92% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 3.28% | - | |
| Biotechnology | - | - | - | 1.65% | |
| Pharmaceuticals | - | - | - | 1.63% | |
| Medical Equipment & Services | - | - | 0.15% | - | |
| Medical Supplies | - | - | - | 0.85% | |
| Medical Services | - | - | - | -0.70% | |
| Health Care Providers | - | - | -0.51% | - | |
| Health Care Services | - | - | - | -0.51% | |
| Basic Materials | -0.30% | - | - | - | |
| Chemicals | - | -0.30% | - | - | |
| Chemicals | - | - | -0.30% | - | |
| Chemicals: Diversified | - | - | - | 0.73% | |
| Specialty Chemicals | - | - | - | -1.03% | |
| Real Estate | -0.64% | - | - | - | |
| Real Estate | - | -0.64% | - | - | |
| Real Estate Investment & Services | - | - | -0.64% | - | |
| Real Estate Holding and Development | - | - | - | -0.01% | |
| Real Estate Services | - | - | - | -0.63% | |
| Energy | -0.86% | - | - | - | |
| Energy | - | -0.86% | - | - | |
| Non-Renewable Energy | - | - | -0.86% | - | |
| Oil Refining and Marketing | - | - | - | -0.86% | |
| Utilities | -3.47% | - | - | - | |
| Utilities | - | -3.47% | - | - | |
| Gas, Water & Multi-utilities | - | - | -1.30% | - | |
| Water | - | - | - | -1.30% | |
| Electricity | - | - | -2.17% | - | |
| Alternative Electricity | - | - | - | -0.85% | |
| Conventional Electricity | - | - | - | -1.31% | |
| Telecommunications | -6.00% | - | - | - | |
| Telecommunications | - | -6.00% | - | - | |
| Telecommunications Equipment | - | - | -2.87% | - | |
| Telecommunications Equipment | - | - | - | -2.87% | |
| Telecommunications Service Providers | - | - | -3.13% | - | |
| Telecommunications Services | - | - | - | -3.13% | |
| Consumer Discretionary | -6.52% | - | - | - | |
| Media | - | 2.29% | - | - | |
| Media | - | - | 2.29% | - | |
| Publishing | - | - | - | 2.99% | |
| Media Agencies | - | - | - | -0.70% | |
| Consumer Products & Services | - | 0.36% | - | - | |
| Personal Goods | - | - | 3.65% | - | |
| Cosmetics | - | - | - | 2.24% | |
| Clothing & Accessories | - | - | - | 2.18% | |
| Luxury Items | - | - | - | -0.77% | |
| Consumer Services | - | - | -0.64% | - | |
| Consumer Services: Misc. | - | - | - | -0.64% | |
| Leisure Goods | - | - | -1.11% | - | |
| Electronic Entertainment | - | - | - | -1.11% | |
| Household Goods & Home Construction | - | - | -1.54% | - | |
| Household Appliance | - | - | - | -0.64% | |
| Household Equipment & Products | - | - | - | -0.90% | |
| Travel & Leisure | - | -1.44% | - | - | |
| Travel & Leisure | - | - | -1.44% | - | |
| Travel & Tourism | - | - | - | -0.17% | |
| Airlines | - | - | - | -0.48% | |
| Hotels & Motels | - | - | - | -0.79% | |
| Retail | - | -2.38% | - | - | |
| Retailers | - | - | -2.38% | - | |
| Home Improvement Retailers | - | - | - | -0.19% | |
| Apparel Retailers | - | - | - | -0.59% | |
| Specialty Retailers | - | - | - | -0.76% | |
| Diversified Retailers | - | - | - | -0.83% | |
| Automobiles & Parts | - | -5.35% | - | - | |
| Automobiles & Parts | - | - | -5.35% | - | |
| Auto Parts | - | - | - | -0.80% | |
| Automobiles | - | - | - | -4.56% | |
| Consumer Staples | -7.78% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | -3.12% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | -3.12% | - | |
| Personal Products | - | - | - | 1.56% | |
| Nondurable Household Products | - | - | - | -0.68% | |
| Drug Retailers | - | - | - | -0.82% | |
| Food Retailers & Wholesalers | - | - | - | -3.19% | |
| Food, Beverage & Tobacco | - | -4.65% | - | - | |
| Beverages | - | - | -1.68% | - | |
| Brewers | - | - | - | -1.68% | |
| Food Producers | - | - | -2.97% | - | |
| Food Products | - | - | - | -2.97% | |
Regional Allocation
| Non-Classified | 46.39% | |
| Cash and Equivalents | 39.08% | |
| Developed Europe - Excl UK | 13.53% | |
| Japan | 4.12% | |
| Emerging Europe | -0.63% | |
| North America | -0.74% | |
| UK | -1.74% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 95.39% | |
| Pound Sterling | 4.41% | |
| Cash | 0.20% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Non-Classified | 46.39% | - | |
| Cash and Equivalents | 39.08% | - | |
| Developed Europe - Excl UK | 13.53% | - | |
Netherlands
|
- | 8.85% | |
France
|
- | 7.43% | |
Ireland
|
- | 6.27% | |
Switzerland
|
- | 3.17% | |
Denmark
|
- | 2.70% | |
Italy
|
- | 2.27% | |
Belgium
|
- | 0.65% | |
Portugal
|
- | -0.39% | |
Sweden
|
- | -1.22% | |
Luxembourg
|
- | -1.53% | |
Spain
|
- | -3.11% | |
Finland
|
- | -4.19% | |
Germany
|
- | -7.35% | |
| Japan | 4.12% | - | |
Japan
|
- | 4.12% | |
| Emerging Europe | -0.63% | - | |
Poland
|
- | -0.63% | |
| North America | -0.74% | - | |
United States
|
- | -0.74% | |
| UK | -1.74% | - | |
United Kingdom
|
- | -1.74% | |
Asset Allocation
| Longs | 47.11% | |
| Shorts | -48.42% |
Breakdown By Market Cap (%)
| Mega |
|
21.25% |
| Large |
|
-11.60% |
| Medium |
|
-8.89% |
| Small |
|
-2.16% |
| Non-Classified |
|
57.90% |
| Bonds |
|
4.41% |
| Cash |
|
39.08% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | MIZUHO BANK LTD (LONDON BRANCH) | 6.10% | Non-Classified | Non-Classified |
| 2 | OMERS FINANCE TRUST | 5.26% | Non-Classified | Non-Classified |
| 3 | NOVO NORDISK A/S | 4.82% | Pharmaceuticals & Biotechnology | Denmark |
| 4 | PSP CAPITAL INC | 4.36% | Non-Classified | Non-Classified |
| 5 | SUMITOMO MITSUI TRUST BANK LTD (LO | 4.12% | Bonds | Japan |
| 6 | MATCHPOINT FINANCE PLC RegS | 4.08% | Non-Classified | Non-Classified |
| 7 | MATCHPOINT FINANCE PLC RegS | 3.99% | Non-Classified | Non-Classified |
| 8 | ASML HOLDING N.V. | 3.25% | Technology Hardware & Equipment | Netherlands |
| 9 | RELX | 2.99% | Media | United Kingdom |
| 10 | LINDE PUBLIC LIMITED COMPANY | 2.92% | Chemicals | Ireland |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 8.70% | - | - | - | - | - | - | 8.70% |
| Telecommunications | -1.90% | -4.10% | - | - | - | - | - | - | -6.00% |
| Financials | 1.18% | 7.38% | - | - | - | - | - | - | 8.56% |
| Real Estate | -0.63% | -0.01% | - | - | - | - | - | - | -0.64% |
| Consumer Discretionary | 1.38% | -7.91% | - | - | - | - | - | - | -6.52% |
| Consumer Staples | -2.24% | -5.54% | - | - | - | - | - | - | -7.78% |
| Energy | - | -0.86% | - | - | - | - | - | - | -0.86% |
| Utilities | -1.57% | -1.90% | - | - | - | - | - | - | -3.47% |
| Health Care | -0.63% | 3.56% | - | - | - | - | - | - | 2.92% |
| Industrials | 3.08% | 11.20% | - | - | - | - | - | - | 14.28% |
| Basic Materials | -0.70% | 0.40% | - | - | - | - | - | - | -0.30% |
| Cash and Equivalents | - | - | - | - | - | - | - | 38.97% | 38.97% |
| Bonds | - | - | 0.29% | 4.12% | - | - | - | - | 4.41% |
| Non-Classified | - | - | - | - | - | - | 47.62% | 0.11% | 47.72% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 | B4Y62W7 |
| Mex Code | MYBLEP |
| Isin Code | GB00B4Y62W78 |
| Citi Code | EYN0 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.91% |
Aims and Benchmark
| Aims | BlackRock European Absolute Alpha Fund seeks to achieve a positive absolute return for investors and, as such, the Fund will not be managed against any European equity index. The Fund will seek to achieve this investment objective by taking long positions and using derivatives to take synthetic long and synthetic short investment positions. The Fund will be managed with the aim of delivering absolute (more than zero) returns on a 12 month basis in any market conditions. However, an absolute return is not guaranteed over a 12 month or any period and the Fund may experience periods of negative return. The Fund’s capital is at risk. The Fund primarily aims to gain investment exposure to equities and equity-related securities of, or giving exposure to, companies incorporated or listed in the European Economic Area and Switzerland. In order to gain this exposure, the Fund invests primarily in derivatives, equities and equity-related securities and, when determined appropriate, cash and near cash. The Fund may also invest in other transferable securities, permitted money-market instruments, permitted deposits and units in collective investment schemes. |
| Benchmark | LIBOR 3 Month (GBP) |
| Benchmark Category | - |
| IA Sector | Absolute Return |
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 | Biannually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 March | 30 April |
| 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 information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.