Fixed Income

BlackRock Systematic Multi Allocation Credit Fund

  • NAV as of 21/Nov/2024 GBP 1.10
    52 WK: 0.99 - 1.12
  • 1 Day NAV Change as of 21/Nov/2024 0.00 (0.06%)

Overview

Investment Approach

The Fund aims to achieve over the long-term (7-10 years) a return on your investment in the form of capital growth and income, of 0.3% per annum (gross of fees) over the composite benchmark (i.e. a number of indices averaged together to represent overall performance and risk). The composite benchmark is made up a third of the following equally weighted indices; Bloomberg Barclays Global Aggregate Corporate GBP Hedged Index, BBG Barclays Global High Yield Index Excl CMBS & EMG 2% Capped GBP Hedged Index and J.P. Morgan EMBI ESG Global Diversified GBP Hedged Index. The Fund seeks to achieve the investment objective through active asset allocation (i.e. mix of assets) and credit security (i.e. debt issued by companies and non government entities) selection. To achieve its objective the Fund will invest on a global basis in any or all of the following asset classes: fixed income (FI) securities (e.g. government and corporate bonds), money-market instruments (e.g. debt instruments with short-term maturities), deposits, cash (in any currency), other funds and derivatives (i.e. investments the prices of which are based on one or more underlying assets).

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.

Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Noninvestment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.

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 3 years.

  2019 2020 2021 2022 2023
Total Return (%) -0.1 -15.9 9.9
Target Benchmark 1 (%) 0.4 -15.8 9.9

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 (%) 15.66 -0.80 - - 2.35
Target Benchmark 1 (%) 14.75 -0.78 - - 2.46
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 5.79 -1.12 2.40 6.10 15.66 -2.39 - - 10.98
Target Benchmark 1 (%) 5.44 -1.37 1.88 6.11 14.75 -2.31 - - 11.50
  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

- 4.82 -20.16 6.82 15.55
Target Benchmark 1 (%)

as of 30/Sept/2024

- 4.97 -19.63 7.10 14.94

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 20/Nov/2024
GBP 142,279,067
Fund Launch Date
04/May/2020
Fund Base Currency
GBP
Target Benchmark 1
Bloomberg Global Aggregate Corporate GBP Hedged Index, Bloomberg Global High Yield Index Excl CMBS & EMG 2% Capped GBP Hedged Index and J.P. Morgan EMBI ESG Global Diversified GBP Hedged Index
Ongoing Charges Figures
0.25%
ISIN
GB00BFBFY408
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BFBFY40
Share Class launch date
04/May/2020
Share Class Currency
GBP
Asset Class
Fixed Income
Initial Charge
0.00%
Management Fee
0.20%
Performance Fee
0.00%
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BLMACIA
Ongoing Charges Figure ex. Discount
0.25%
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
1472
3y Beta
as of 31/Oct/2024
0.994
Modified Duration
as of 31/Oct/2024
5.65
Effective Duration
as of 31/Oct/2024
4.69
WAL to Worst
as of 31/Oct/2024
8.27
Standard Deviation (3y)
as of 31/Oct/2024
8.85%
Yield to Maturity
as of 31/Oct/2024
6.47
Weighted Average YTM
as of 31/Oct/2024
6.35%
Weighted Avg Maturity
as of 31/Oct/2024
8.27

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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3
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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
ORGANON & CO 144A 7.875 05/15/2034 0.41
BATH & BODY WORKS INC 6.875 11/01/2035 0.40
ASTON MARTIN CAPITAL HOLDINGS LTD 144A 10 03/31/2029 0.35
DIRECTV FINANCING LLC 144A 5.875 08/15/2027 0.35
VERMILION ENERGY INC 144A 6.875 05/01/2030 0.32
Name Weight (%)
ENERGEAN PLC 144A 6.5 04/30/2027 0.32
POLAND (REPUBLIC OF) 5.5 03/18/2054 0.32
SYNCHRONY FINANCIAL 7.25 02/02/2033 0.32
BREAD FINANCIAL HOLDINGS INC 144A 9.75 03/15/2029 0.32
UNITI GROUP LP 144A 10.5 02/15/2028 0.32
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
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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class I Acc GBP 1.10 0.00 0.06 21/Nov/2024 1.12 0.99 GB00BFBFY408
Class D Inc GBP 0.90 0.00 0.06 21/Nov/2024 0.92 0.86 GB00BFBFY390
Class X Inc GBP 0.90 0.00 0.06 21/Nov/2024 0.92 0.86 GB00BFBFY739
Class I Inc GBP 0.90 0.00 0.06 21/Nov/2024 0.92 0.86 GB00BFBFY515
Class X Acc GBP 1.12 0.00 0.06 21/Nov/2024 1.13 1.00 GB00BFBFY622
Class D Acc GBP 1.10 0.00 0.06 21/Nov/2024 1.12 0.99 GB00BFBFY283

Portfolio Managers

Portfolio Managers

Missing portfolio manager content

Literature

Literature