Fixed Income

BIBF Index Linked Fund

  • Bid price as of 22/Mar/2022 GBP 1.09
  • Offer price as of 22/Mar/2022 GBP 1.10

Overview

Investment Approach

The Fund aims to outperform the FTSE-A Government Securities Over 5 Year Index-Linked Index (gross of fees) over the long term (5 consecutive years). This objective is to be treated as a target only and not as an assurance or guarantee of performance of the Fund. The Fund invests at least 50% of its total assets in fixed income securities (such as bonds) denominated in Sterling that are issued by the UK Government. These fixed income securities must be linked to an eligible index. The Fund is permitted to invest more than 35% and up to 100% of its scheme property in government and public securities issued or guaranteed by the Government of the UK (including the Scottish Administration, the Executive Committee of the Northern Ireland Assembly and the National Assembly of Wales). The Fund may also invest in other fixed income securities, money-market instruments (i.e. debt securities with short term maturities) and cash.

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 fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held.Fixed income securities issued by governments can be affected by the perceived stability of the country concerned and proposed or actual credit rating downgrades.

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 7 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 2.5 -1.2 6.3 13.0 3.7
Target Benchmark 1 (%) 2.5 -0.4 6.8 12.4 4.2

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 (%) 8.77 6.09 3.74 - 2.73
Target Benchmark 1 (%) 10.14 6.54 4.00 - 3.02
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -4.06 -2.11 -9.61 -5.70 8.77 19.40 20.17 - 15.71
Target Benchmark 1 (%) -3.55 -0.52 -9.40 -3.20 10.14 20.93 21.66 - 17.51
  From
31-Dec-2016
To
31-Dec-2017 		From
31-Dec-2017
To
31-Dec-2018 		From
31-Dec-2018
To
31-Dec-2019 		From
31-Dec-2019
To
31-Dec-2020 		From
31-Dec-2020
To
31-Dec-2021
Total Return (%)

as of 31/Dec/2021

2.49 -1.20 6.31 13.05 3.70
Target Benchmark 1 (%)

as of 31/Dec/2021

2.54 -0.40 6.79 12.38 4.22

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 22/Nov/2024
GBP 29,944,375
Fund Launch Date
15/Oct/1997
Fund Base Currency
GBP
Target Benchmark 1
FTSE Actuaries UK Index-Linked Gilts over 5 Years Index
Initial Charge
0.00%
Management Fee
0.35%
Performance Fee
0.00%
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
SEDOL
9305831
Share Class launch date
27/Sept/2016
Share Class Currency
GBP
Asset Class
Fixed Income
Investment Association Category
-
Ongoing Charges Figures
0.43%
ISIN
GB009A1WJYJ2
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
Ongoing Charges Figure ex. Discount
0.43%
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
28
3y Beta
as of 28/Feb/2022
1.022
Modified Duration
as of 31/Oct/2024
17.90
Effective Duration
as of 31/Oct/2024
17.90
WAL to Worst
as of 31/Oct/2024
19.23
Standard Deviation (3y)
as of 28/Feb/2022
14.46%
Yield to Maturity
as of 31/Oct/2024
4.64
Weighted Average YTM
as of 31/Oct/2024
1.18%
Weighted Avg Maturity
as of 31/Oct/2024
19.23

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

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
UK I/L GILT 1.125 11/22/2037 7.12
UK I/L GILT 1.25 11/22/2032 6.18
UK I/L GILT 0.75 03/22/2034 6.10
UK I/L GILT 0.625 03/22/2040 5.35
UK I/L GILT 0.625 11/22/2042 4.65
Name Weight (%)
UK I/L GILT 0.75 11/22/2047 4.55
UK I/L GILT 0.125 03/22/2044 4.48
UK I/L GILT 1.25 11/22/2055 4.46
UK I/L GILT 0.125 11/22/2036 4.20
UK I/L GILT 0.125 08/10/2031 4.07
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 B GBP 1.09 1.10 GB009A1WJYJ2
Class A GBP 2.04 2.04 GB0094232880
Class A GBP 0.70 0.70 GB009A1WJYA1
Class B GBP 2.04 2.04 GB0094232997

Portfolio Managers

Portfolio Managers

Simon Blundell
Simon Blundell

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

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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.

Literature

Literature