Fixed Income

BlackRock Sustainable Sterling Short Duration Credit Fund

  • Bid price as of 21/Nov/2024 GBP 1.03
  • Offer price as of 21/Nov/2024 GBP 1.04

Overview

Investment Approach

The Fund aims to provide a return on your investment over a 1-3 year period (generated through an increase to the value of the Fund’s assets and/or income received from those assets) of 1.5% per annum (gross of fees) over the return of 3 Month Sterling Overnight Index Average Rate (SONIA) in a manner consistent with the principles of sustainable investment. The Fund invests at least 50% of its assets in Sterling denominated fixed income (FI) securities (such as bonds) issued by companies and supranationals (e.g. the International Bank for Reconstruction and Development). The Fund may invest in a full range of available FI securities globally, including those that are non-Sterling denominated, investment grade or non-investment grade (i.e. securities which have a relatively low credit rating or which are unrated) and/or issued by governments and government agencies. Non-investment grade FI securities are expected to be limited to 10% of total assets. The Fund is expected to invest in FI securities that mature (i.e. the date on which the principal amount of a bond is to be repaid in full) within 5 years or less at the time of investment but may, in certain market conditions, invest in FI securities with a longer maturity.

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. Non-investment 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. 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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Distributions

Ex-Date Total Distribution
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Ex-Date Total Distribution
For more information: 0800 445 522 • www.blackrock.com • investor.services@blackrock.com

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 (%) 7.78 - - - 6.02
Target Benchmark 1 (%) 6.86 - - - 6.68
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 3.45 -0.23 0.89 3.65 7.78 - - - 10.22
Target Benchmark 1 (%) 5.68 0.55 1.64 3.36 6.86 - - - 11.37
  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

- - - - 8.83
Target Benchmark 1 (%)

as of 30/Sept/2024

- - - - 6.88

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 21/Nov/2024
GBP 1,040,726,565
Fund Launch Date
12/Sept/2019
Fund Base Currency
GBP
Target Benchmark 1
3 Month SONIA Compounded in Arrears + 1.5%
Initial Charge
0.00%
Management Fee
0.15%
Performance Fee
0.00%
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRSTDRI
Ongoing Charges Figure ex. Discount
0.17%
Share Class launch date
01/Mar/2023
Share Class Currency
GBP
Asset Class
Fixed Income
Investment Association Category
-
Ongoing Charges Figures
0.17%
ISIN
GB00BN091156
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BN09115
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
415
Standard Deviation (3y)
as of -
-
Yield to Maturity
as of 31/Oct/2024
5.10
Weighted Average YTM
as of 31/Oct/2024
4.80%
Weighted Avg Maturity
as of 31/Oct/2024
2.67
12 Month Trailing Dividend Distribution Yield
as of 31/Oct/2024
4.37
3y Beta
as of -
-
Modified Duration
as of 31/Oct/2024
2.79
Effective Duration
as of 31/Oct/2024
2.72
WAL to Worst
as of 31/Oct/2024
2.67

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 (%)
UK CONV GILT 4.125 07/22/2029 2.21
UK CONV GILT 3.5 10/22/2025 2.21
ABN AMRO BANK NV MTN RegS 5.5 09/21/2033 1.46
ING GROEP NV RegS 6.25 05/20/2033 1.43
HSBC HOLDINGS PLC RegS 6.364 11/16/2032 1.40
Name Weight (%)
BANQUE FEDERATIVE DU CREDIT MUTUEL RegS 3.875 06/16/2032 1.31
COOPERATIEVE CENTRALE RAIFFEISEN-B MTN RegS 4.625 05/23/2029 1.25
UNITE (USAF) II PLC RegS 3.921 06/30/2025 1.24
NGG FINANCE PLC RegS 5.625 06/18/2073 1.20
LONDON AND QUADRANT HOUSING TRUST RegS 2.625 05/05/2026 1.15
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 Bid Price Offer Price ISIN
Class I Inc GBP 1.03 1.04 GB00BN091156
Class X GBP 1.09 1.09 GB00BFK3LV19
Class D GBP 1.08 1.08 GB00BFK3LS89
Class X GBP 0.96 0.96 GB00BFK3LX33
Class I GBP 1.08 1.08 GB00BFK3LT96

Portfolio Managers

Portfolio Managers

Demi Budwig
Demi Budwig

Director, is a Portfolio Manager for the Sterling Fundamental Fixed Income Team within BlackRock's Global Fixed Income Group.

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Director, is a Portfolio Manager for the Sterling Fundamental Fixed Income Team within BlackRock's Global Fixed Income Group. Mrs. Budwig specialises in Investment Grade Credit and is responsible for managing a range of Institutional corporate bond portfolios. Mrs. Budwig is co-manager of the Sterling Short Duration Credit fund, which is on track to reach $1bn in assets within its first 3 years. She is also responsible for the evolution of team's ESG strategy, driving ESG-related thematic investments as well as opportunities for new ESG focused strategies.

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