Equity

BlackRock Continental European Income Fund

  • Bid price as of 26/Nov/2024 GBP 2.86
  • Offer price as of 26/Nov/2024 GBP 2.86
  • Morningstar Rating

Overview

Investment Approach

The Fund aims to provide an above average income return from its equity investments (i.e. shares), compared to the income produced by European equity markets (excluding the UK) as represented by FTSE World Europe Ex UK Index, without sacrificing capital growth (i.e. the value of the assets held by the Fund) over the long term (5 or more consecutive years beginning at the point of investment). The Fund invests at least 70% of its total assets in the equity securities (e.g. shares) of companies domiciled in, or the main business of which is in Europe, excluding the United Kingdom. The investment adviser (IA) may use derivatives (i.e. investments the prices of which are based on one or more underlying assets) to help achieve the Fund’s investment objective

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.

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

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Performance

Performance

Chart

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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 3.6 12.7 12.0 16.5 -10.5 19.5 12.1 11.8 -7.7 11.2
Target Benchmark 1 (%) -0.5 5.8 19.1 16.7 -9.6 20.2 8.6 17.2 -7.8 15.2

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 (%) 14.65 3.02 6.33 7.91 8.13
Target Benchmark 1 (%) 16.36 4.31 7.72 8.59 7.30
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 3.36 -1.61 -1.14 -0.96 14.65 9.33 35.90 114.01 186.97
Target Benchmark 1 (%) 4.73 -1.90 -1.71 0.18 16.36 13.49 45.05 128.07 158.73
  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

4.93 12.37 -10.33 12.69 13.61
Target Benchmark 1 (%)

as of 30/Sept/2024

0.50 21.50 -13.10 19.27 14.98

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 26/Nov/2024
GBP 1,289,711,963
Fund Launch Date
06/May/2011
Fund Base Currency
GBP
Target Benchmark 1
FTSE All World Developed Europe Ex UK Index
Initial Charge
5.00%
Management Fee
1.50%
Performance Fee
0.00%
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BLKCEAA
Ongoing Charges Figure ex. Discount
1.66%
Share Class launch date
06/May/2011
Share Class Currency
GBP
Asset Class
Equity
Investment Association Category
Europe Excluding UK
Ongoing Charges Figures
1.66%
ISIN
GB00B3ZW3465
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Europe ex-UK Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
B3ZW346
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Oct/2024
40
3y Beta
as of 31/Oct/2024
0.848
P/B Ratio
as of 31/Oct/2024
2.69
Standard Deviation (3y)
as of 31/Oct/2024
11.66%
P/E Ratio
as of 31/Oct/2024
17.56

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

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BlackRock Continental European Income Fund, Class A, as of 31/Oct/2024 rated against 571 Europe ex-UK Equity Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 18/Jul/2024)
Analyst-Driven % as of 18/Jul/2024
100.00
Data Coverage % as of 18/Jul/2024
100.00

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
NOVO NORDISK A/S 4.77
ENEL SPA 4.23
COMPAGNIE DE SAINT GOBAIN SA 4.18
UNICREDIT SPA 3.62
MUENCHENER RUECKVERSICHERUNGS GESELLSCHAFT IN MUENCHEN AG 3.44
Name Weight (%)
SAP SE 3.33
NORDEA BANK ABP 3.21
HOLCIM AG 3.18
VINCI SA 3.13
KBC GROEP NV 3.12
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
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 Bid Price Offer Price ISIN
Class A GBP 2.86 2.86 GB00B3ZW3465
Class X GBP 2.18 2.18 GB00BYSXC139
Class S GBP 1.00 1.00 GB00BRTCRZ97
Class X GBP 1.23 1.23 GB00BFBFW352
Class S GBP 1.00 1.00 GB00BRTCRY80
Class D GBP 3.17 3.17 GB00B3S9LG25
Class A Hedged GBP 1.87 1.88 GB00BWG06Q53
Class A GBP 1.69 1.69 GB00B43MZ612
Class D GBP 1.86 1.87 GB00B3Y7MQ71
Class D Hedged GBP 1.40 1.40 GB00BWG07G21
Class A Hedged GBP 1.31 1.31 GB00BWG07400
Class D Hedged GBP 1.92 1.92 GB00BWG07178

Portfolio Managers

Portfolio Managers

Andreas Zoellinger
Andreas Zoellinger
Brian Hall
Brian Hall
Managing Director

  

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Brian Hall, CFA, Managing Director and Portfolio Manager, is a member of the European Equity team within the Fundamental Equity division of BlackRock’s Active Equity Group. He has had responsibility for the management of the BGF European Value portfolio since December 2010 and co-manages Pan-European portfolios across the team.

 

Prior to joining BlackRock in 2007, Mr. Hall was with Lehman Brothers, where he was a Director responsible for equity research on the European Capital Goods team. He began his career with Lehman in 1999.

 

Mr. Hall earned a BSC degree, first class honours in economics with study in continental Europe from Bristol University in 1999.

Stuart Brown
Stuart Brown

Literature

Literature