Cash

BlackRock ICS Euro Government Liquidity Fund

  • Transactional NAV Closing as of 15-Nov-2024 EUR 104,1584
  • MTM NAV as of 15-Nov-2024 Closing EUR 104,1668
  • % Difference 0,01

Overview


The Fund aims to generate a moderate level of income on your investment consistent with maintaining capital and ensuring that it's underlying assets can easily be bought or sold in the market (in normal market conditions). Money invested in the Fund is not protected or guaranteed.

The Fund invests in a broad range of government fixed income securities (such as bonds) and money market instruments (MMIs) (i.e. debt securities with short term maturities), reverse repurchase agreements and in cash.

At least 99.5% of the Fund’s assets will be securities, instruments or obligations issued or guaranteed by the governments of countries which have adopted the Euro at the time of purchase and reverse repurchase agreements referencing such assets and in cash. These assets shall always be denominated in Euro.
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 value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested.

A Money Market Fund (MMF) is not a guaranteed investment vehicle. An investment in MMFs is different from an investment in deposits; the principal invested in an MMF is capable of fluctuation and the risk of loss of the principal is to be borne by the investor.
The MMF does not rely on external support for guaranteeing the liquidity of the MMF or stabilising the NAV per share.

Short Term Money Market Funds do not generally experience extreme price variations. Changes in interest rates will impact the Fund. Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss. Credit Risk: The issuer of a financial asset held within the Fund may not pay income or repay capital to the Fund when due.
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Risk Indicator

Risk Indicator

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Performance

Performance

NAV

View full chart
The implementation of Money Market Fund Reform regulations and discontinuation of the Reverse Distribution Mechanism has resulted in the need to convert the Distributing share classes of the Funds to Accumulating share classes and rebase the NAV per share of these share classes from  €1 per Share to €100 effective 18 March 2019. 

The NAV chart shows the share class level mark-to-market NAV for the period shown, beginning as at 14 January 2019.

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.

Source: BlackRock, as at most recent available data in the Performance chart and table. The NAV chart shows the share class level mark-to-market NAV for the period shown, beginning as at 14 January 2019. NAV data prior to 14 January 2019 is shown as fund level mark-to-market NAV. Performance is shown after deduction of ongoing charges. Any entry/exit charges are excluded from the calculation. The income of the fund is reinvested as part of the calculation of the NAV. Refer to the latest KIID document for more Performance information.

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 0,0 -0,2 -0,6 -0,7 -0,7 -0,6 -0,7 -0,7 -0,2 3,1
Comparator Benchmark 1 (%) 0,1 -0,2 -0,4 -0,5 -0,5 -0,5 -0,6 -0,6 0,0 3,3

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

  1y 3y 5y 10y
Total Return (%)

as of 31-Oct-2024

3,78 1,93 0,87 0,16
Comparator Benchmark 1 (%)

as of 31-Oct-2024

3,91 2,13 1,03 0,30
  YTD 1m 3m 6m 1y 3y 5y 10y
Total Return (%)

as of 31-Oct-2024

3,13 0,28 0,88 1,83 3,78 5,90 4,40 1,61
Comparator Benchmark 1 (%)

as of 31-Oct-2024

3,23 0,29 0,90 1,88 3,91 6,53 5,25 3,07
  From
30-Sept-2019
To
30-Sept-2020		 From
30-Sept-2020
To
30-Sept-2021		 From
30-Sept-2021
To
30-Sept-2022		 From
30-Sept-2022
To
30-Sept-2023		 From
30-Sept-2023
To
30-Sept-2024
Total Return (%)

as of 30-Sept-2024

-0,70 -0,72 -0,64 2,30 3,82
Comparator Benchmark 1 (%)

as of 30-Sept-2024

-0,64 -0,57 -0,46 2,60 3,96
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.

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, as at most recent available data in the Performance Returns table. Refer to the latest KIID document for more Performance information.

The currency of returns is EUR for each historical period displayed. Returns are expressed as a percentage change of the Fund's net asset value. Performance is shown after deduction of ongoing charges. Total return represents changes to the NAV based on the amortised cost of underlying securities, and accounts for income reinvested into the Fund as represented by the price of the Fund. The Average Annual return represents the amount of money an investment could have earned over a one year period. The Cumulative return represents the amount of money an investment could have earned for an investor, irrespective of time.
Performance chart data not available for display.

Key Facts

Key Facts

Net Assets of Fund
as of 15-Nov-2024
EUR 3 999 185 096,83
Fund Inception
10-Dec-2008
Fund Type
Constant NAV
SFDR Classification
Other
ISIN
IE00B41N0724
Minimum Initial Investment
EUR 500 000 000
Regulatory Structure
UCITS
Fiscal Year End
30-Sept
Dealing Frequency
Daily, forward pricing basis
SEDOL
B41N072
Fitch Rating
AAAmmf
S&P Fund Rating
AAAm
Performance Start Date
01-Oct-2010
Base Currency
EUR
Comparator Benchmark 1
Overnight ESTR
Ongoing Charge
0,100%
Management Fee
0,100%
Domicile
Ireland
Issuing Company
BlackRock Asset Management Ireland Limited
Dealing Settlement
Trade Date
Bloomberg Ticker
INSEGPD
Trading Deadline
10:30 AM (IST)
Moody's Fund Rating
Aaa-mf
Source: BlackRock

IST = Irish Standard Time. ET = Eastern Time.

The charges are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. There are currently no entry or exit charges associated with this Fund.

Portfolio Characteristics

Portfolio Characteristics

Daily Maturing Asset
as of 15-Nov-2024
52,1%
Weighted Average Maturity
as of 15-Nov-2024
27 days
Daily Distribution Factor
as of 15-Nov-2024
0,000000000
7-day Yield
as of 15-Nov-2024
3,13%
Weekly Maturing Asset
as of 15-Nov-2024
84,6%
Weighted Average Life
as of 15-Nov-2024
27 days
1-day Yield
as of 15-Nov-2024
3,10%
30-day Yield
as of 15-Nov-2024
3,19%
Yields shown are net. Source: BlackRock and JPMorgan as Fund Accountant. All information is as at the date specified in the Portfolio Characteristics Table.

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 31-Oct-2024
0,00%
MSCI - Nuclear Weapons
as of 31-Oct-2024
0,00%
MSCI - Civilian Firearms
as of 31-Oct-2024
0,00%
MSCI - Tobacco
as of 31-Oct-2024
0,00%
MSCI - UN Global Compact Violators
as of 31-Oct-2024
0,00%
MSCI - Thermal Coal
as of 31-Oct-2024
0,00%
MSCI - Oil Sands
as of 31-Oct-2024
0,00%
Business Involvement Coverage
as of 31-Oct-2024
63,87%
Percentage of Fund not covered
as of 31-Oct-2024
36,13%
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.

Fund Ratings

Fund Ratings

Source: Moody's, S&P, or Fitch, as applicable. As at 14 January 2019. The Fund is rated by an external rating agency(ies). Such rating is solicited and financed by BlackRock.

Registered Locations

Registered Locations

  • Austria

  • Denmark

  • Estonia

  • Finland

  • France

  • Germany

  • Greece

  • Guernsey

  • Hungary

  • Iceland

  • Ireland

  • Isle of Man

  • Italy

  • Lithuania

  • Luxembourg

  • Netherlands

  • Norway

  • Portugal

  • Singapore

  • Spain

  • Sweden

  • Switzerland

  • United Kingdom

Holdings

Holdings

Position Description Asset Type Amortized Cost %Par Par Market Value ISIN Final Maturity Maturity/Reset
Holdings shown are unaudited and are based on the fund’s unofficial books and records, and may not be representative of current or future investments. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities. The holdings report provided represents certain information regarding the traded positions held within the portfolio as of the specified date. It does not include cash, accrued income and/or payables/receivables. The total assets reflected on the holdings report provided will not match to the net asset value of the fund as these items are excluded.
Download Holdings
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 15-Nov-2024

% of Weight

Type Fund
Sector exposure is calculated by aggregating the percent par of individual securities in the portfolio by security type. BlackRock uses a proprietary process to determine the security type of individual securities, by conducting a thorough analysis of the issuer/obligor, including but not limited to any support providers or enhancers. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 15-Nov-2024

% of Weight

Type Fund
as of 15-Nov-2024

% of Weight

Type Fund
Maturity is provided in days. Maturity exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio by the legal final maturity date, or for securities that have a demand feature, the date in which the demand feature is exercised and proceeds received. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 15-Nov-2024

% of Weight

Type Fund
Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted by BlackRock to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change. S&P deem all A-1 securities maturing within 7 days as A-1+. Any security under a year with a long-term rating of AA- or above would also be considered to have a short-term rating of A-1+, whilst those with a long-term rating of A or above would be considered to have a short-term rating of A-1.
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.

Portfolio Managers

Portfolio Managers

Matt Clay
Matt Clay
Managing Director, Portfolio Manager

Matt Clay, Managing Director and portfolio manager, is the Head of International Portfolio Management for Cash Management within BlackRock Global Markets.

Read More

Matt Clay, Managing Director and portfolio manager, is the Head of International Portfolio Management for Cash Management within BlackRock Global Markets.


Mr. Clay's service with the firm dates back to 2009, including his years with Barclay's Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was responsible for portfolio management and trading in BGI's European Cash Management Group. Prior to joining BGI, Mr. Clay was a portfolio manager at Lehman Brothers Asset Management. He began his career at Northern Trust in 1997, initially within the Securities lending operation and then as a portfolio manager for the Liquidity products within the Investment Management Division.

 

Gregor Harwell, CFA
Gregor Harwell, CFA
Director, Portfolio Manager

Gregor Harwell, CFA, Director and portfolio manager, is a member of the International Cash Management team within BlackRock Global Markets.

Read More

Gregor Harwell, CFA, Director and portfolio manager, is a member of the International Cash Management team within BlackRock Global Markets.

 

Prior to joining BlackRock in 2011, Gregor worked at State Street Global Advisors, most recently as a portfolio manager where he was responsible for the Euro liquidity fund and various securities lending portfolios within the cash management group. Prior to that, he spent 4 years as a credit analyst specialising in ABS and ABCP within the short term credit research department.

 

Mr. Harwell is a CFA charterholder and a member of the UK Society of Investment Professionals. He earned an M.A. in Finance & Investment and a BA(Hons) in Economics & Finance from the University of Exeter in 2003 and 2002 respectively.

 

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 1 years
Example Investment EUR 10 000
Scenario
If you exit after 1 year

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
9 930 EUR
-0,7%

Unfavourable

What you might get back after costs
Average return each year
9 930 EUR
-0,7%

Moderate

What you might get back after costs
Average return each year
9 930 EUR
-0,7%

Favourable

What you might get back after costs
Average return each year
10 380 EUR
3,8%

The stress scenario shows what you might get back in extreme market circumstances.

Literature

Literature

 
Please access the document library in order to find the KID/KIID in local language.