Equity

BSF Global Event Driven Fund

  • NAV as of 21-Nov-24 USD 102.38
    52 WK: 100.25 - 117.29
  • 1 Day NAV Change as of 21-Nov-24 -0.60 (-0.58%)

Overview

Investment Approach


The Fund aims to achieve a positive absolute return through a combination of capital growth and income on your investment.

Under normal market conditions, the Fund will seek to gain at least 70% of its investment exposure through global equity securities (e.g. shares) and equity related securities. The Fund may also invest in fixed income (FI) securities (such as bonds), FI related securities, funds, money market instruments (MMIs) (i.e. debt securities with short-term maturities), deposits and cash.

The Fund will employ a fundamentals-based investment process focussed on identifying investments that are undergoing a sufficiently defined catalyst event (e.g. announced mergers and acquisitions).

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. Overseas investments will be affected by movements in currency exchange rates.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

View full chart

This chart shows the fund's performance as the percentage loss or gain per year over the last 4 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -16.08 -1.23 13.02 24.09
Comparator Benchmark 1 (%) 0.67 0.05 1.46 5.01

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

  1y 3y 5y 10y Incept.
Total Return (%) -1.40 8.24 0.61 - 0.48
Comparator Benchmark 1 (%) 5.39 3.63 2.36 - 2.36
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -12.15 -6.18 -1.76 -7.05 -1.40 26.83 3.09 - 2.58
Comparator Benchmark 1 (%) 4.43 0.38 1.30 2.66 5.39 11.28 12.36 - 13.30
  From
30-Sep-2019
To
30-Sep-2020		 From
30-Sep-2020
To
30-Sep-2021		 From
30-Sep-2021
To
30-Sep-2022		 From
30-Sep-2022
To
30-Sep-2023		 From
30-Sep-2023
To
30-Sep-2024
Total Return (%)

as of 30-Sep-24

-21.44 11.49 7.05 19.60 2.35
Comparator Benchmark 1 (%)

as of 30-Sep-24

1.10 0.07 0.62 4.47 5.46

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 USD, hedged share class benchmark performance is displayed in USD.

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 21-Nov-24
USD 1,663,061,096
Fund Launch Date
04-Aug-15
Base Currency
USD
Comparator Benchmark 1
ICE BofA 3-MO US Treasury Bill (G0O1)
Initial Charge
0.00%
Management Fee
1.00%
Performance Fee
20.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BSGEI2B
Inception Date
19-Jun-19
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Other
Ongoing Charges Figures
1.07%
ISIN
LU2008661006
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Event Driven
Dealing Frequency
Daily, forward pricing basis
SEDOL
BK987W5

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31-Oct-24
328
3y Beta
as of 31-Oct-24
-3.039
P/B Ratio
as of 31-Oct-24
2.76
Standard Deviation (3y)
as of 31-Oct-24
15.89%
P/E Ratio
as of 31-Oct-24
26.59

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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-24
0.72%
MSCI - Nuclear Weapons
as of 31-Oct-24
0.72%
MSCI - Civilian Firearms
as of 31-Oct-24
0.38%
MSCI - Tobacco
as of 31-Oct-24
0.02%
MSCI - UN Global Compact Violators
as of 31-Oct-24
0.00%
MSCI - Thermal Coal
as of 31-Oct-24
0.00%
MSCI - Oil Sands
as of 31-Oct-24
0.00%
Business Involvement Coverage
as of 31-Oct-24
59.15%
Percentage of Fund not covered
as of 31-Oct-24
14.26%
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

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 30-Apr-24)
Analyst-Driven % as of 30-Apr-24
100.00
Data Coverage % as of 30-Apr-24
100.00

Holdings

Holdings

as of 31-Oct-24
Name Weight (%)
CATALENT INC 6.11
HESS CORP 5.91
COTY INC 4.26
HASHICORP INC 4.14
STERICYCLE INC 3.83
Name Weight (%)
TENET HEALTHCARE CORPORATION 3.19
CAESARS ENTERTAINMENT INC 3.05
BRITVIC PLC 3.01
HOWMET AEROSPACE INC 2.75
CLOUD SOFTWARE GROUP INC 2.57
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-24

% of Market Value

Type Fund
as of 31-Oct-24

% of Market Value

Type Fund
as of 31-Oct-24

% of Market Value

Type Fund
as of 31-Oct-24

% of Market Value

Type Fund
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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class I2 BRL Hedged USD 102.38 -0.60 -0.58 21-Nov-24 117.29 100.25 LU2008661006
Class I2 Hedged CHF 108.94 0.15 0.14 21-Nov-24 111.15 106.63 LU1603214401
Class D2 Hedged GBP 127.66 0.21 0.16 21-Nov-24 129.05 120.57 LU1373034930
Class Z2 Hedged GBP 139.44 0.23 0.17 21-Nov-24 140.79 131.03 LU1288049866
Class A2 Hedged CHF 107.70 0.14 0.13 21-Nov-24 110.68 106.28 LU1400751324
Class D2 Hedged EUR 118.16 0.18 0.15 21-Nov-24 119.89 113.09 LU1373035077
Class AI2 EUR 104.75 0.16 0.15 21-Nov-24 106.42 100.75 LU2103007592
Class S2 Hedged EUR 108.49 0.17 0.16 21-Nov-24 110.00 103.51 LU1706559405
Class I2 Hedged EUR 121.37 0.19 0.16 21-Nov-24 123.06 115.81 LU1382784764
Class S2 USD 117.72 0.18 0.15 21-Nov-24 118.88 110.37 LU2099035045
Class IA2 Hedged EUR 109.70 0.17 0.16 21-Nov-24 111.09 104.16 LU2125116769
Class Z2 Hedged EUR 128.20 0.19 0.15 21-Nov-24 129.93 122.07 LU1288049940
Class I5 USD 134.29 0.22 0.16 21-Nov-24 135.61 125.91 LU1603214153
Class Z2 USD 151.31 0.25 0.17 21-Nov-24 152.72 141.57 LU1258025839
Class I2 Hedged JPY 10,852.28 14.11 0.13 21-Nov-24 11,207.07 10,771.49 LU1781817421
Class D2 Hedged CHF 111.88 0.14 0.13 21-Nov-24 114.43 109.84 LU1387771113
Class Z2 Hedged CHF 120.01 0.16 0.13 21-Nov-24 122.38 117.20 LU1341466644
Class E2 EUR 143.38 0.13 0.09 21-Nov-24 143.38 130.96 LU1278928657
Class I5 Hedged GBP 123.08 0.20 0.16 21-Nov-24 125.07 117.10 LU1603215044
Class E2 Hedged EUR 111.22 0.17 0.15 21-Nov-24 113.12 107.50 LU1278928574
Class IA2 USD 129.15 0.21 0.16 21-Nov-24 130.28 120.48 LU1921562119
Class A4 Hedged EUR 108.30 0.17 0.16 21-Nov-24 110.02 104.16 LU1697783881
Class A2 USD 136.92 0.22 0.16 21-Nov-24 138.52 129.39 LU1251620883
Class A2 Hedged SGD 108.91 0.16 0.15 21-Nov-24 110.72 105.09 LU2114397859
Class X2 USD 170.65 0.27 0.16 21-Nov-24 172.03 158.41 LU1264793958
Class I2 USD 132.94 0.21 0.16 21-Nov-24 134.24 124.64 LU1251621345
Class D4 Hedged GBP 108.37 0.18 0.17 21-Nov-24 109.54 103.77 LU2215606471
Class I4 Hedged EUR 114.74 0.17 0.15 21-Nov-24 116.67 111.09 LU1817852764
Class A2 Hedged HKD 1,101.41 1.65 0.15 21-Nov-24 1,117.61 1,052.13 LU2114397776
Class A2 Hedged EUR 112.81 0.17 0.15 21-Nov-24 114.60 108.52 LU1376384878
Class X2 Hedged AUD 106.95 0.17 0.16 21-Nov-24 107.94 100.49 LU2649166159
Class D2 USD 142.43 0.22 0.15 21-Nov-24 143.93 133.93 LU1251621188

Portfolio Managers

Portfolio Managers

Mark McKenna
Mark McKenna

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 : 5 years
Example Investment USD 10,000
Scenario
If you exit after 1 year
If you exit after 5 years

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
7,100 USD
-29.0%
3,190 USD
-20.4%

Unfavourable

What you might get back after costs
Average return each year
7,270 USD
-27.3%
7,240 USD
-6.3%

Moderate

What you might get back after costs
Average return each year
10,000 USD
0.0%
9,420 USD
-1.2%

Favourable

What you might get back after costs
Average return each year
12,890 USD
28.9%
11,720 USD
3.2%

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



Literature

Literature