Equity

BSF Health Sciences Absolute Return Fund

  • NAV as of 21/Nov/2024 USD 108.14
    52 WK: 101.50 - 108.44
  • 1 Day NAV Change as of 21/Nov/2024 0.27 (0.25%)

Overview

Investment Approach


The Fund aims to achieve positive absolute returns through a combination of capital growth and income on your investment regardless of market conditions.

The Fund seeks to gain at least 70% of its investment exposure to equity securities (e.g. shares) and equity-related securities of companies (including derivatives), or giving exposure to securities of companies whose predominant economic activity is in healthcare, pharmaceuticals, medical technology and supplies and the development of biotechnology. There are no geographical restrictions on the Fund’s investments., which may be based in developed or emerging markets. In selecting the Fund’s investments, the investment adviser (IA) will use fundamental analysis, focusing on a variety of different strategies.

The Fund will invest at least 70% of its assets in equity securities, other equity-related securities and when determined appropriate, fixed-income securities (such as bonds), money market instruments (MMIs) (i.e. debt securities with short term maturities) deposits 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.

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

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Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

This chart shows the fund's performance as the percentage loss or gain per year over the last 0 years.

  2019 2020 2021 2022 2023
Total Return (%)
Target Benchmark 1 (%)

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 (%) 6.91 - - - 6.51
Target Benchmark 1 (%) 5.78 - - - 5.79
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 5.53 1.00 1.74 2.21 6.91 - - - 8.16
Target Benchmark 1 (%) 4.78 0.44 1.38 2.84 5.78 - - - 7.26
  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

- - - - 6.16
Target Benchmark 1 (%)

as of 30/Sept/2024

- - - - 5.82

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/2024
USD 16,657,144
Fund Launch Date
03/Aug/2023
Fund Base Currency
USD
Target Benchmark 1
3 Month SOFR Compounded in Arrears plus 26.1 basis point spread
Initial Charge
5.00%
Management Fee
1.50%
Performance Fee
20.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BLSARAU
Share Class launch date
03/Aug/2023
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Other
Ongoing Charges Figures
1.85%
ISIN
LU2353382034
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BMYYH00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Oct/2024
77
3y Beta
as of -
-
P/B Ratio
as of 31/Oct/2024
6.11
Standard Deviation (3y)
as of -
-
P/E Ratio
as of 31/Oct/2024
226.60

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

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
UNITEDHEALTH GROUP INC 2.67
STRYKER CORP 2.52
LABCORP HOLDINGS INC 2.27
BOSTON SCIENTIFIC CORP 2.13
ABBOTT LABORATORIES 1.92
Name Weight (%)
DANAHER CORP 1.91
SANOFI ADR REPRESENTING SA 1.76
ARGENX SE ADR 1.69
ROCHE HOLDING PAR AG 1.68
GILEAD SCIENCES INC 1.59
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type Fund
as of 31/Oct/2024

% of Market Value

Type Fund
as of 31/Oct/2024

% of Market Value

Type Fund
as of 31/Oct/2024

% 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 A2 USD 108.14 0.27 0.25 21/Nov/2024 108.44 101.50 LU2353382034
Class I2 EUR 113.06 0.20 0.18 21/Nov/2024 113.06 100.96 LU2575169110
Class I2 Hedged EUR 106.85 0.26 0.24 21/Nov/2024 107.16 101.18 LU2353382463
Class Z2 USD 109.48 0.27 0.25 21/Nov/2024 109.74 101.84 LU2353382976
Class I2 USD 109.10 0.27 0.25 21/Nov/2024 109.37 101.78 LU2353382380
Class D2 USD 108.78 0.27 0.25 21/Nov/2024 109.06 101.69 LU2353382208
Class I2 Hedged GBP 108.72 0.27 0.25 21/Nov/2024 109.00 101.72 LU2353382547
Class A2 EUR 112.06 0.19 0.17 21/Nov/2024 112.08 100.70 LU2575168906
Class A2 Hedged EUR 105.91 0.25 0.24 21/Nov/2024 106.26 100.89 LU2353382117
Class I2 Hedged CHF 103.54 0.23 0.22 21/Nov/2024 104.38 100.38 LU2353382620
Class D2 Hedged EUR 106.53 0.26 0.24 21/Nov/2024 106.86 101.08 LU2575169037

Portfolio Managers

Portfolio Managers

Erin Xie, PhD
Erin Xie, PhD

 

Erin Xie, PhD, Managing Director and portfolio manager, is the head of the Health Sciences team, part of BlackRock’s Active Equity Group. She is the lead portfolio manager for the Health Sciences equity portfolios.

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Erin Xie, PhD, Managing Director and portfolio manager, is the head of the Health Sciences team, part of BlackRock’s Active Equity Group. She is the lead portfolio manager for the Health Sciences equity portfolios.

 

Ms. Xie's service with the firm dates back to 2001, including her years with State Street Research & Management (SSRM), which merged with BlackRock in 2005. At SSRM, she was a Senior Vice President and portfolio manager responsible for managing the State Street Health Sciences Fund. Prior to joining State Street Research in 2001, Ms. Xie was a research associate with Sanford Bernstein covering the pharmaceutical industry from 1999. From 1994 until 1997, she was a post doctoral research scientist at Columbia University.

 

Ms. Xie earned a BS degree in chemistry from Beijing University in 1988, a PhD degree in Biochemistry from the University of California, Los Angeles, in 1993 and a MBA degree from the Massachusetts Institute of Technology Sloan School of Management in 1999.

Xiang Liu, PhD
Xiang Liu, PhD

 

Xiang Liu, PhD, Managing Director and portfolio manager, is a member of the Health Sciences team, part of BlackRock’s Active Equity Group. He is co-portfolio manager for the Health Sciences equity portfolios and is responsible for coverage of the medical devices & supplies sector.

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Xiang Liu, PhD, Managing Director and portfolio manager, is a member of the Health Sciences team, part of BlackRock’s Active Equity Group. He is co-portfolio manager for the Health Sciences equity portfolios and is responsible for coverage of the medical devices & supplies sector.

 

Prior to joining BlackRock in 2008, Mr. Liu was a partner and biotech analyst at Mehta Partners. From 2002 to 2005, he was a Director in the corporate development department at Cubist Pharmaceuticals. Mr. Liu began his investment career in 2000 at the Boston Consulting Group as a Healthcare consultant.

 

Mr. Liu earned a BS degree in Chemistry from the University of Science & Technology, China in 1993, a PhD degree in Chemistry from Yale University in 1997, and a MBA degree in finance, strategy, and accounting from the University of Chicago in 2000.

Literature

Literature