Fact sheet: BlackRock Absolute Return Bond

Fund information
Fund name
BlackRock Absolute Return Bond D
Fund manager company
BlackRock
Fund type
Unit Trust
Fund managers
  • Ian Winshipsince 29/09/2011
  • Andreas Doerrenhaussince 13/09/2015
Fund objective
The Fund aims to achieve a positive absolute return for investors regardless of market movements and, 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 primarily 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. The Fund can use derivatives as part of its investment strategy. This can increase the overall risk profile of the Fund.
Benchmark
  • LIBOR 3 Month (GBP)
Investment style
Absolute Return
Investment method
Fixed Interest
Quick stats
1 Year return
2.1%
1 Year rank in sector
36/72
Sector
UT Targeted Absolute Return
Yield
1.7%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.61%
Fund size
£907m (£406m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
9
Bid price
109.3
Offer price
109.6
Top in this sector
Fund name1 Year
Majedie Tortoise24.5%
7IM Unconstrained18.6%
CF Ruffer Absolute Return15.8%
Newton Mgd Tgtd Rtn13.3%
S&W Saltus Wealth13.2%
...more in UT Targeted Absolute Return

Performance snapshot

Holdings snapshot

  • Others61.3%
    UK19.2%
    Money Market19%
    France5.3%
    Italy4%
  • Derivatives61.3%
    Money Market19%
    Mortgage & Secured Bonds18%
    Investment Grade Bonds15.3%
    Debt6.5%
  • Global Fixed Interest81.2%
    Money Market19%
    Alternative Investment Strategies-0.1%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%0.3%1.4%2.1%2.5%8.6%
Sector0.6%0.4%1.7%1.8%5.2%16.2%
Rank within sector50 / 7744 / 7443 / 7336 / 7243 / 5839 / 47
Quartile3rd3rd3rd2nd3rd4th
Calendar performance
 YTD - 20172016201520142013
Fund0.2%1.5%1%-0.1%2.2%
Sector0.2%1%2.2%2.5%6.5%
Rank within sector46 / 7634 / 7242 / 6752 / 5846 / 53
Quartile3rd2nd3rd4th4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-0.05
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.41
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-0
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
1.37
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.56
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.81
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.3
Price movement
52 week high109.5
52 week low105.9
Current bid price109.3
Current offer price109.6
Current mid price-
Region
1Others61.32%
2UK19.19%
3Money Market18.98%
4France5.27%
5Italy3.98%
6Spain3.01%
7Australia2.52%
8China1.47%
9Japan1.44%
Industry sector
1Derivatives61.33%
2Money Market18.98%
3Mortgage & Secured Bonds18.04%
4Investment Grade Bonds15.31%
5Debt6.53%
6High Yield Bond1.72%
7Others0.05%
8Government Bonds-21.96%
Asset type
1Global Fixed Interest81.16%
2Money Market18.98%
3Alternative Investment Strategies-0.1%
Individual holdings
1FGOLD 30YR TBA(REG A) 4 12/13/20162.84%
2FGOLD 30YR TBA(REG A) 4 01/18/20171.72%
3TREASURY (CPI) NOTE 0.125 07/15/20261.23%
4ALBERTA (PROVINCE OF) 1.35 09/01/20211.12%
5TURBF_7 A1 REGS0.94%
6TREASURY (CPI) NOTE 0.625 01/15/20260.87%
7TAURS_13-GMF1 A REGS0.82%
8AUSTRALIA(COMMONWEALTH OF) 3% TB 21/03/47 AUD10000.81%
9NATIONAL GRID GAS FINANCE PLC 2.125% INST 22/09/28 GBP1000000.73%
Management
Fund manager group
BlackRock
Fund manager company
BlackRock
Fund type
Unit Trust
Fund objective
The Fund aims to achieve a positive absolute return for investors regardless of market movements and, 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 primarily 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. The Fund can use derivatives as part of its investment strategy. This can increase the overall risk profile of the Fund.
Benchmark
  • LIBOR 3 Month (GBP)
Investment style
Absolute Return
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Ian Winship29/09/2011Ian Winship graduated from the University od Strathclyde in 1985 with a BA (Hons) in Economics and Marketing. He joined the fixed income team in 1997, as a fund manager, responsible for a number of fixed income portfolios managed on behalf of UK clients. in addition he has responsibility for research in the European markets. Previously, he has managed bond portfolios for Murray Johnstone, Hill Samuel Asset Managers and more recently was responsible for fixed Income portfolios and research at Scottish Amicable Investment Managers.
Andreas Doerrenhaus13/09/2015Andreas, who is based in London, is head of BlackRock’s European investment grade (IG) unconstrained credit strategies and a portfolio manager in BlackRock’s Global Unconstrained Fixed Income Team. Andreas currently manages the European IG unconstrained credit strategies in BGF FIGO and contributes towards the idea generation and investment process of the fund as well as the risk/capital allocation process. His addition as co-manager is a formalisation of Andreas’ historic and ongoing contribution to the fund’s investment process. Prior to joining BlackRock in 2010, Andreas worked as a credit portfolio manager at Deutsche Bank Group - Deutsche Asset Management. Before joining Deutsche Bank, he worked as a banker for Commerzbank AG and as a consultant for KPMG Consulting - BearingPoint. Andreas earned a Diplom-Kaufmann degree in finance and international management from the Katholische Universitaet Eichstaett (WFI).
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Jersey
BlackRock Absolute Return Bond D
Initial charge-
Annual charge0.5%
Min single investment£100,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.61%
Total expense ratio (TER)0.98%
Bid price109.3
Offer price109.6
Mid price-
CurrencyGBX
Price updated16/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0GIZ
BlackRock Absolute Return Bond P
Initial charge5%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.1%
Total expense ratio (TER)1.32%
Bid price107.1
Offer price112.8
Mid price-
CurrencyGBX
Price updated16/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0GIY
BlackRock Absolute Return Bond X
Initial charge-
Annual charge-
Min single investment£10,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.06%
Total expense ratio (TER)-
Bid price112.3
Offer price112.6
Mid price-
CurrencyGBX
Price updated16/01/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0GJ0
Data provided by

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