What would you like us to do with the funds you've selected
This shows the number of portfolios you hold. Portfolios can be constructed from Unit Trusts & OEICs,IMA Unit Trusts & OEICs,Investment Trusts,Pension Funds,Life Funds,Offshore Funds,Exchange Traded Funds and cash. Holdings and acquisition costs can be recorded so that profits/losses can be calculated. These can be calculated in terms of a number of base currencies. Overall portfolio values, as well as portfolio constituents, can be made the subject of alerts.
You have one watchlist, and this shows you the number of items currently stored in the watchlist. Items stored here do not have holdings records, so this list simply monitors the price of items held, which can also be subject to alerts
This is designed to be a temporary collection of items selected by you for further analysis in the tools section. Items can be subsequently transferred from the Basket to the Watchlist or Portfolio.
Would you invest in a fund managed by someone who is nearing retirement age?
BlackRock UK Absolute Alpha Fund seeks to achieve a positive absolute return for investors and, as such, the Fund will not be managed against any UK equity index. The Fund will seek to achieve this investment objective by taking long positions and using derivatives to take synthetic long and synthetic short investment positions. The Fund primarily aims to gain investment exposure to equities and equity-related securities of, or giving exposure to, companies incorporated or listed in the UK. In order to gain this exposure, the Fund invests primarily in derivatives, equities and equity-related securities and, when determined appropriate, cash and near cash. The Fund may also invest in other transferable securities, permitted money-market instruments, permitted deposits and units in collective investment schemes.
The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.
Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.
Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.
The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.
Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.
Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.
All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.
Daxter: You have demonstrated a complete lack of understanding about the investment strategy of the Fund. Comparing the performance of this Fund against the total return of a long only equity strategy is like comparing chalk and cheese. This is completely neglecting the risk element which as I hope you are aware is a key element of a controlled investment strategy. And comparing it to 3 month LIBOR at the current time is also misleading as LIBOR has hardly been operating at historic averages.The core volatility must be taken into account and on this Fund at 4.94 over 3 years is below that of the average investment grade Bond Fund. Also, the number you are really looking for is the information ratio, which is the risk adjusted return of the Fund. Anything above 0 represents a return above what could have been expected for each unit of risk taken. at 0.73 over three years this is an impressive risk adjusted return.I have seen Mark present and have spoken to him on several occasions and he has an excellent understanding of his investment remit and makes it clear that the Fund will lag during bull markets. The multi asset class capitulation during the height of the credit crunch was a unique event and the Fund did ewell to protect capoital as well as it did.Just to make the point, there are few UK equity Funds whoch have returned 80% since March 2009 (which is the market low I assume you meant to refer to) but one that has is the Schroder UK Alpha Plus Fund. Over 2 years however the Fund is down 5.67% against a gain of 11.97 on this Fund. Remember there are lies, damned lies and statistics. They can make whatever point you want without the necessity for context.This is not a core Fund, but as a Portfolio diversifier and risk management tool it has a definite role to play. It displays low correlation to other asset classes and researching the underlying asset classes and strategies will provide the understanding and transparency you require.
Very few absolute return funds have delivered the goods. The sector is new and the peers for comparison purposes can run very different strategies. This fund, given all the press attention and assets raised, is very mediocre. For example, since March 2008 it has failed to beat a cash benchmark of LIBOR GBP 3 months. When you consider the fees associated with the fund, its a rip-off! There are other absolute return funds that have delivered 80%+ over this same period. In the 10 months of 2009 so far the FTSE All-Share has gone up 21% while this fund has gone up 8%. Absolute return yes, competitive no. Much better available in my opinion and cheaper too
This fund's record speaks for itself, but the stuff it invests in is completely lacking transparency. As far as I can see performance is wholly underpinned by derivative contracts. Bearing in mind what's happened in the hedge fund world, shouldn't there be some explanation of how these contracts work, and what is in place to protect investors from being screwed over when these miracle cures join the litany of other 'too good to be true' investments that have proved to be a lot riskier than they first appear? Let me guess, it's backed by a triple-A institution, like Lehman Brothers.
How is the manager locked in to this fund?
Back to top of page
What is fundswire?
Fundswire lets you to keep track of the funds, managers and groups you’re interested in.
For funds you follow via Fundswire we’ll alert you to any significant developments, whether changes in performance or risk characteristics, a new rating or award, or a change of fund manager.
BlackRock CIF Japan Equity Tracker fund no longer a second quartile performer
07:00 AM | 18-Jun-2013
BlackRock US Opportunities fund witnesses extensive changes in its top ten holdings
10:36 AM | 11-Jun-2013
BlackRock European Absolute Alpha fund no longer a top quartile performer
07:00 AM | 03-Jun-2013
BlackRock European Absolute Alpha fund witnesses extensive changes in its top ten holdings
07:00 AM | 31-May-2013
BlackRock Corporate Bond fund witnesses extensive changes in its top ten holdings