Fixed Income

BlackRock Absolute Return Bond Fund

  • Bid price as of 16/May/2025 GBP 1.39
  • Offer price as of 16/May/2025 GBP 1.40
  • Morningstar Rating

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.


Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to repay the principal and make interest payments. The Fund invests in fixed interest securities issued by companies. There is a risk of default where the issuing company may not pay income or repay capital to the Fund when due.

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

The Fund uses derivatives as part of its investment strategy including the establishment of both ‘long’ and ‘synthetic short’ positions and the creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The Manager employs a risk management process to oversee and manage derivative exposure within the Fund. However, the use of derivatives in this manner may have the effect of increasing the overall risk profile of the Fund. Investors should understand that the Fund is not guaranteed to produce a positive return and as an absolute return product, performance may not move in line with general market trends or fully benefit from a positive market environment.
Show Less
Loading

Performance

Performance

Chart

View full chart
Chart
Line chart with 165 data points.
The chart has 1 X axis displaying Time. Range: 2011-08-31 00:00:00 to 2025-04-30 00:00:00.
The chart has 1 Y axis displaying values. Range: 0 to 50.
YTD6M1Y3Y5Y10YAll
End of interactive chart.
Chart
Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying Values. Range: -2 to 8.
End of interactive chart.
During this period performance was achieved under circumstances that no longer apply
*Prior to 13/Dec/2021, the Fund used a different benchmark which is reflected in the benchmark data.
  2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Return (%) 1.5 1.9 3.2 -1.0 3.3 5.4 -0.7 1.4 1.7 6.5
Comparator Benchmark 1 (%) 0.6 0.5 0.4 0.7 0.8 0.3 0.1 1.4 4.7 5.2

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 (%) 7.78 4.10 3.67 2.43 2.46
Comparator Benchmark 1 (%) 4.96 4.22 2.57 1.58 1.33
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 2.31 0.61 1.66 3.34 7.78 12.81 19.77 27.11 39.07
Comparator Benchmark 1 (%) 1.50 0.37 1.10 2.31 4.96 13.20 13.54 16.97 19.71
  From
31-Mar-2020
To
31-Mar-2021 		From
31-Mar-2021
To
31-Mar-2022 		From
31-Mar-2022
To
31-Mar-2023 		From
31-Mar-2023
To
31-Mar-2024 		From
31-Mar-2024
To
31-Mar-2025
Total Return (%)

as of 31/Mar/2025

12.38 -2.53 0.82 4.67 6.48
Comparator Benchmark 1 (%)

as of 31/Mar/2025

0.14 0.16 2.24 5.09 5.03

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 15/May/2025
GBP 781,964,751
Fund Launch Date
30/Sept/2011
Fund Base Currency
GBP
Comparator Benchmark 1
3 month SONIA Compounded in Arrears
Initial Charge
0.00%
Management Fee
0.00%
Performance Fee
0.00%
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRARBXA
Share Class launch date
30/Sept/2011
Share Class Currency
GBP
Asset Class
Fixed Income
Investment Association Category
-
Ongoing Charges Figures
0.03%
ISIN
GB00B66YXP33
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Global Flexible Bond - GBP Hedged
Dealing Frequency
Daily, forward pricing basis
SEDOL
B66YXP3

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Apr/2025
841
3y Beta
as of 30/Apr/2025
2.237
Modified Duration
as of 30/Apr/2025
3.13
Effective Duration
as of 30/Apr/2025
2.31
WAL to Worst
as of 30/Apr/2025
4.78
Standard Deviation (3y)
as of 30/Apr/2025
3.51%
Yield to Maturity
as of 30/Apr/2025
5.03
Weighted Average YTM
as of 30/Apr/2025
4.84%
Weighted Avg Maturity
as of 30/Apr/2025
4.78

Risk Indicator

Risk Indicator

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

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BlackRock Absolute Return Bond Fund, Class X, as of 30/Apr/2025 rated against 695 Global Flexible Bond - GBP Hedged Funds.

Holdings

Holdings

as of 30/Apr/2025
Name Weight (%)
BSF EM FLEXI DYNAMIC BD FD X2 USD 3.86
BSF Em Mrkts Shrt Dur Bd Fd X2 USD 3.85
BABCOCK INTERNATIONAL GROUP PLC MTN RegS 1.875 10/05/2026 1.40
NATWEST GROUP PLC MTN RegS 3.622 08/14/2030 1.40
JAPAN (GOVERNMENT OF) 30YR #81 1.6 12/20/2053 1.07
Name Weight (%)
UK CONV GILT 0.625 10/22/2050 1.06
FORD MOTOR CREDIT COMPANY LLC (FXD 5.918 03/20/2028 1.03
TRATON FINANCE LUXEMBOURG SA MTN RegS 5.625 01/16/2029 1.02
NGG FINANCE PLC RegS 5.625 06/18/2073 0.96
BP CAPITAL MARKETS PLC NC6 RegS 3.25 12/31/2079 0.92
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Apr/2025

% of Market Value

Show More
as of 30/Apr/2025

% of Market Value

Show More
as of 30/Apr/2025

% of Market Value

as of 30/Apr/2025

% of Market Value

Show More
as of 30/Apr/2025

% of Market Value

Show More
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

Portfolio Managers

Portfolio Managers

Leopold Lansing
Leopold Lansing
Director

Leopold Lansing, Director, is a portfolio manager on BlackRock's Fundamental Fixed Income team

Read More

Leopold Lansing, Director, is a portfolio manager on BlackRock's Fundamental Fixed Income team, focusing on Global Corporate and Global Multi-Sector strategies where he is responsible for idea generation and implementation.

 

Mr. Lansing is co-lead manager for the BlackRock Absolute Return Bond Fund (BARBF) and the iShares € Flexible Income Bond Active ETF (IFLX). He is also a part of the portfolio management team for BGF Global Corporate Bond Fund (GCB) and a member of the firm’s European Investor Group (EIG).

 

Mr. Lansing began his career at BlackRock in 2017 in the Global Bond team as a portfolio manager. He earned a BA degree in Economics, with a focus on macroeconomics and econometrics, from the University of Cambridge.

Simon Blundell
Simon Blundell

Managing Director, is Head of the Fundamental Sterling Team within BlackRock's Global Fixed Income (GFI) Group.

Read More

Managing Director, is Head of the Fundamental Sterling team within BlackRock's Global Fixed Income (GFI) Group. Prior to joining BlackRock in 2011, Simon was Head of Institutional Credit Portfolio Management at Aviva Investors where he oversaw 9 billion in assets across Euro, Sterling, and Global credit and aggregate products. Prior to joining Aviva in 2009, Simon spent 10 years at ABN AMRO Asset Management (later acquired by Fortis Investments where he stayed on for a year), most recently as Head of Credit. He previously held positions at HSBC Asset Management and Morgan Grenfell Asset Management. He began his investment career in 1994.

Joe Di Censo
Joe Di Censo
Portfolio manager, BlackRock’s Global Fixed Income Group

     

Read More

Joe Di Censo, CFA, CAIA, Managing Director, is a portfolio manager for global bond funds within BlackRock's Global Fixed Income group.

Prior to joining BlackRock in 2011, Mr. Di Censo worked at the International Monetary Fund in Washington D.C. He served as a financial sector economist on a broad range of policy issues in Europe and Asia. Prior to his work at the IMF, Mr. Di Censo was a Senior Vice President at Lehman Brothers, later Barclays Capital, where he spent nine years as a member of the asset allocation research group. In that role, he formulated investment strategies across global fixed income markets.

Mr. Di Censo has an MA degree in economics from the University of Pennsylvania and received a BS degree, magna cum laude, from Georgetown University's School of Foreign Service in 1998.

Rekesh Varsani
Rekesh Varsani

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.

Literature

Literature