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BlackRock Absolute Return Bond Fund
Class P (GBP) (Accumulating) D (GBP) (Accumulating) X (GBP) (Accumulating)
Bid price as of Jan 27, 2023 GBP 1.27
Offer price as of Jan 27, 2023 GBP 1.27
We are currently experiencing technical difficulties with publishing our offer prices. Please call 0800 445522 if you require an up to date offer price for this fund. Please note all price files received via e-mail from BlackRock are correct.We apologise for any inconvenience this may cause.
The Fund seeks to achieve a positive absolute return on your investment (i.e. an increase in the overall value of the Fund) over a period of 12 months regardless of market conditions. As such, the Fund will not be managed against any fixed income benchmark. The Fund will be managed with the aim of delivering absolute (more than zero) returns on a 12 month basis in any market conditions. However, an absolute return is not guaranteed over a 12 month or any period and the Fund may experience periods of negative return. The Fund's capital is at risk. The Fund aims to gain investment exposure to fixed income (FI) securities, FI-related securities and money-market instruments (MMIs) issued by, or giving exposure to, companies, governments, government agencies and supranationals (i.e. the International Bank for Reconstruction and Development) worldwide.
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
Growth of Hypothetical 10,000
Performance chart data not available for display.
BlackRock Absolute Return Bond Fund (GBP)
The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. Unit Class performance displayed in British Pound. Source: BlackRock. Performance is show on a bid price basis, with net income reinvested, net of fees. The figures shown relate to past performance.
Discrete Annual
During this period performance was achieved under circumstances that no longer apply
Total Return (%) 2.76 0.37 1.48 1.91 3.21 -1.04 3.32 5.41 -0.72 1.40
Comparator Benchmark 1 (%) 0.52 0.54 0.57 0.50 0.35 0.72 0.81 0.29 0.08 1.39
Performance data is not currently available
Incept.
Total Return (%)
as of Dec 31, 2022
Comparator Benchmark 1 (%)
1.40 1.73 3.18 2.16 1.40 6.12 8.51 19.46 25.45
1.39 0.27 0.69 1.08 1.39 1.77 3.34 5.92 7.07
-1.04 3.32 5.41 -0.72 1.40
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
Net Assets of Fund as of Jan 26, 2023 GBP 1,242,694,544
Share Class Inception Date Sep 30, 2011
Fund Inception Date Sep 30, 2011
Share Class Currency GBP
Base Currency GBP
Asset Class Fixed Income
Comparator Benchmark 1 3 Month SONIA Compounded in Arrears
SFDR Classification -
Investment Association Category -
Initial Charge 0.00%
Ongoing Charge 0.03%
Annual Management Fee 0.00%
Performance Fee 0.00%
Minimum Initial Investment GBP 10000000
Minimum Subsequent Investment GBP 100
Use of Income Accumulating
Domicile United Kingdom
Regulatory Structure UCITS
Management Company BlackRock Fund Managers Ltd
Morningstar Category Global Flexible Bond - GBP Hedged
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BRARBXA
ISIN GB00B66YXP33
SEDOL B66YXP3
Portfolio Characteristics
Number of Holdings as of Dec 30, 2022 1139
Standard Deviation (3y) as of Dec 31, 2022 4.48%
3y Beta as of Dec 31, 2022 1.663
Yield to Maturity as of Dec 30, 2022 4.72%
Modified Duration as of Dec 30, 2022 1.24 yrs
Yield to Worst as of Dec 30, 2022 4.88%
Effective Duration as of Dec 30, 2022 1.15 yrs
Weighted Avg Maturity as of Dec 30, 2022 3.38 yrs
WAL to Worst as of Dec 30, 2022 3.38 yrs
Sustainability Characteristics
To be included in MSCI ESG Fund Ratings, 65% of the fund's gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund's gross weight; the absolute values of short positions are included but treated as uncovered), the fund's holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.
Business Involvement
Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.
Business Involvement metrics are not indicative of a fund's investment objective, and, unless otherwise stated in fund documentation and included within a fund's investment objective, do not change a fund's investment objective or constrain the fund's investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.
Review the MSCI methodology behind the Business Involvement metrics, using links below.
MSCI - Controversial Weapons as of Dec 30, 2022 0.01%
MSCI - UN Global Compact Violators as of Dec 30, 2022 1.95%
MSCI - Nuclear Weapons as of Dec 30, 2022 0.02%
MSCI - Thermal Coal as of Dec 30, 2022 0.02%
MSCI - Civilian Firearms as of Dec 30, 2022 0.00%
MSCI - Oil Sands as of Dec 30, 2022 0.00%
MSCI - Tobacco as of Dec 30, 2022 0.78%
Business Involvement Coverage as of Dec 30, 2022 50.14%
Percentage of Fund not covered as of Dec 30, 2022 32.12%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.67% and for Oil Sands 0.64%.
Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company's specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.
Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund's gross weight includes securities covered by MSCI ESG Research.
ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.
The Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager's ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.
Overall Morningstar Rating for BlackRock Absolute Return Bond Fund, Class X, as of Dec 31, 2022 rated against 570 Global Flexible Bond - GBP Hedged Funds.
Risk Indicator
Low Yield High Yield
Top Holdings
Weight (%)
ISHARES CORPORATE BOND 0-5YR UCIT 7.33
ISH CORE EURO CORP BND ETF EUR DIS 1.55
NATWEST GROUP PLC MTN RegS 3.622 08/14/2030 1.31
PETROLEOS MEXICANOS MTN RegS 3.75 02/21/2024 0.82
NEXTERA ENERGY OPERATING PARTNERS 144A 4.25 07/15/2024 0.81
BLACKROCK SYSTEMATIC MULTI-S CLX 0.75
LLOYDS TSB BANK PLC MTN RegS 7.625 04/22/2025 0.71
SANTANDER UK GROUP HOLDINGS PLC MTN RegS 2.421 01/17/2029 0.58
ABN AMRO BANK NV RegS 4.4 03/27/2028 0.57
LLOYDS BANKING GROUP PLC MTN RegS 1.75 09/07/2028 0.55
Holdings subject to change
Exposure Breakdowns
% of Market Value
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
Distribution Frequency
X GBP Accumulating 1.27 1.27 GB00B66YXP33 -
D GBP Accumulating 1.19 1.20 GB00B618DS31 -
Class P GBP Accumulating 1.14 1.14 GB00B5LVV365 -
Portfolio Managers
Simon Blundell
Joseph Di Censo
Joe Di Censo, CFA, CAIA, Managing Director, is a portfolio manager for global bond funds within BlackRock's Global Fixed Income group.
Prior to joining BlackRock in 2011, Mr. Di Censo worked at the International Monetary Fund in Washington D.C. He served as a financial sector economist on a broad range of policy issues in Europe and Asia. Prior to his work at the IMF, Mr. Di Censo was a Senior Vice President at Lehman Brothers, later Barclays Capital, where he spent nine years as a member of the asset allocation research group. In that role, he formulated investment strategies across global fixed income markets.
Mr. Di Censo has an MA degree in economics from the University of Pennsylvania and received a BS degree, magna cum laude, from Georgetown University's School of Foreign Service in 1998.
Rekesh Varsani
As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals.
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Review the MSCI methodology behind the Sustainability Characteristics and Business Involvement metrics: 1ESG Ratings; 2Index Carbon Footprint Metrics; 3Business Involvement Screening Research; 4ESG Screened Index Methodology; 5ESG Controversies; 6MSCI Implied Temperature Rise
For funds with an investment objective that include the integration of ESG criteria, there may be corporate actions or other situations that may cause the fund or index to passively hold securities that may not comply with ESG criteria. Please refer to the fund's prospectus for more information. The screening applied by the fund's index provider may include revenue thresholds set by the index provider. The information displayed on this website may not include all of the screens that apply to the relevant index or the relevant fund. These screens are described in more detail in the fund's prospectus, other fund documents, and the relevant index methodology document.
Certain information contained herein (the "Information") has been provided by MSCI ESG Research LLC, a RIA under the Investment Advisers Act of 1940, and may include data from its affiliates (including MSCI Inc. and its subsidiaries ("MSCI")), or third party suppliers (each an "Information Provider"), and it may not be reproduced or redisseminated in whole or in part without prior written permission. The Information has not been submitted to, nor received approval from, the US SEC or any other regulatory body. The Information may not be used to create any derivative works, or in connection with, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund's assets under management or other measures. MSCI has established an information barrier between equity index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. Neither MSCI ESG Research nor any Information Party makes any representations or express or implied warranties (which are expressly disclaimed), nor shall they incur liability for any errors or omissions in the Information, or for any damages related thereto. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited.
Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting the iShares ETF and BlackRock Mutual Fund prospectus pages. Read the prospectus carefully before investing.
Compared to more established economies, the value of investments in developing Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability. The Fund utilises derivatives as part of its investment strategy. Compared to a fund which only invests in traditional instruments such as stocks and bonds, derivatives are potentially subject to a higher level of risk and volatility. The strategies utilized by the Fund involve the use of derivatives to facilitate certain investment management techniques including the establishment of both 'long' and 'synthetic short' positions and creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Fund. The fund invests in high yielding bonds. Companies who issue higher yield bonds typically have an increased risk of defaulting on repayments. In the event of default, the value of your investment may reduce. Economic conditions and interest rate levels may also impact significantly the values of high yield bonds. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. 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. The Fund will attempt to reduce (or 'hedge') the risk of currency movements between the Base Currency and the currency in which some or all of the underlying investments are transacted. It should be noted that the hedging strategy employed will not completely eliminate the exposure of the Fund to movements between the Base Currency and these other currencies. The hedging strategies may be entered into whether the Base Currency is declining or increasing in value compared to the currency of the underlying investments. This may have a positive or negative impact on the performance of the Fund.
Investing involves risk, including possible loss of principal.
Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Certain sectors and markets perform exceptionally well based on current market conditions and iShares Funds can benefit from that performance. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated.
The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Bloomberg, BlackRock Index Services, LLC, Cohen & Steers, European Public Real Estate Association ("EPRA® "), FTSE International Limited ("FTSE"), ICE Data Indices, LLC, NSE Indices Ltd, JPMorgan, JPX Group, London Stock Exchange Group ("LSEG"), MSCI Inc., Markit Indices Limited, Morningstar, Inc., Nasdaq, Inc., National Association of Real Estate Investment Trusts ("NAREIT"), Nikkei, Inc., Russell or S&P Dow Jones Indices LLC. None of these companies make any representation regarding the advisability of investing in the Funds. With the exception of BlackRock Index Services, LLC, who is an affiliate, BlackRock Investments, LLC is not affiliated with the companies listed above.
Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Equity REITS Index, FTSE NAREIT All Residential Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. Neither FTSE nor NAREIT makes any warranty regarding the FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index, FTSE EPRA/NAREIT Developed Europe Index or FTSE EPRA/NAREIT Global REIT Index; all rights vest in FTSE, NAREIT and EPRA."FTSE®" is a trademark of London Stock Exchange Group companies and is used by FTSE under license.
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