Fixed Income

iShares Corporate Bond Index Fund (UK)

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  • NAV as of 31/May/2024 GBP 1.23
    52 WK: 1.13 - 1.26
  • 1 Day NAV Change as of 31/May/2024 0.00 (-0.12%)
  • Morningstar Rating

Overview

Investment Approach

The Fund aims to provide a return on your investment (generated through an increase in the value of the assets held by the Fund and/or income received from those assets) by tracking closely the performance of the Markit iBoxx GBP Non-Gilts Overall TR Index, the Fund’s benchmark index. The Fund is passively managed and the investment adviser has discretion to select the Fund’s investments and in doing so may take into consideration the Benchmark Index. The Fund invests in fixed income securities (such as bonds) that make up the benchmark index and, at the time of purchase, comply with the credit rating requirements of the benchmark index. The benchmark index measures the performance of fixed income securities denominated in Sterling issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development) but excludes gilts (i.e. bonds) issued by the UK government. These may include fixed income securities which pay income according to a fixed rate of interest and will be investment grade (i.e. meet a specified level of credit worthiness) at the time of inclusion in the benchmark index.

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.

The value of your investment and the income from it will vary and your initial investment amount is not guaranteed. Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to repay the principal and make interest payments. The Fund invests in fixed interest securities issued by companies. There is a risk of default where the issuing company may not pay income or repay capital to the Fund when due.

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

The Fund’s investments may have low liquidity, which often causes the value of these investments to be less predictable. In extreme cases the Fund may not be able to realise the investment at the latest market price or at a price considered fair.
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Performance

Performance

Chart

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Unit Class performance displayed in . Source: BlackRock. Performance is shown on a bid to bid price basis, with net income reinvested, net of fees. Past performance is not a guide to future performance.
As of 29 April 2016, the benchmark index converted from a close of business valuation to a midday valuation. Historic performance of the benchmark index has been simulated by the benchmark index provider and such data is used for the purposes of demonstrating historic performance in the "Past Performance" table from 30 June 2010 or from the launch of the unit class if later.

This chart shows the fund's performance as the percentage loss or gain per year over the last 9 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -0.1 10.3 4.5 -1.6 9.4 7.8 -3.1 -17.5 8.7
Target Benchmark 1 (%) 0.6 10.6 4.3 -1.6 9.2 7.9 -3.1 -17.8 8.8

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 (%) 4.43 -3.97 -0.61 2.14 2.13
Target Benchmark 1 (%) 4.53 -4.09 -0.67 2.22 2.28
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -1.67 -1.51 -0.22 5.52 4.43 -11.44 -2.99 23.59 23.93
Target Benchmark 1 (%) -1.72 -1.49 -0.23 5.51 4.53 -11.77 -3.28 24.55 25.78
  From
31-Mar-2019
To
31-Mar-2020		 From
31-Mar-2020
To
31-Mar-2021		 From
31-Mar-2021
To
31-Mar-2022		 From
31-Mar-2022
To
31-Mar-2023		 From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of 31/Mar/2024

0.87 7.88 -5.25 -10.23 6.24
Target Benchmark 1 (%)

as of 31/Mar/2024

1.43 7.24 -5.37 -10.30 6.14

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 31/May/2024
GBP 4,697,572,940
Fund Launch Date
30/Jun/2010
Base Currency
GBP
Target Benchmark 1
iBoxx Sterling Non Gilt Index
Ongoing Charges Figures
0.11%
Annual Management Fee
0.10%
Minimum Initial Investment
GBP 100,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
GBP Corporate Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
BJL5BV4
Inception Date
26/Feb/2014
Share Class Currency
GBP
Asset Class
Fixed Income
Initial Charge
5.00%
ISIN
GB00BJL5BV43
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 100.00
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRCOBTH

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Apr/2024
1266
3y Beta
as of 30/Apr/2024
0.992
Modified Duration
as of 30/Apr/2024
5.48
Effective Duration
as of 30/Apr/2024
5.54
WAL to Worst
as of 30/Apr/2024
7.99
Standard Deviation (3y)
as of 30/Apr/2024
9.10%
Yield to Maturity
as of 30/Apr/2024
5.55
Weighted Average YTM
as of 30/Apr/2024
5.49%
Weighted Avg Maturity
as of 30/Apr/2024
7.99

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for iShares Corporate Bond Index Fund (UK), Class H, as of 30/Apr/2024 rated against 432 GBP Corporate Bond Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 07/Feb/2024)

Holdings

Holdings

as of 30/Apr/2024
Name Weight (%)
KFW MTN RegS 1.125 07/04/2025 0.61
KFW BANKENGRUPPE MTN 6 12/07/2028 0.53
EUROPEAN INVESTMENT BANK 6 12/07/2028 0.44
EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.41
KFW MTN RegS 3.75 07/30/2027 0.40
Name Weight (%)
KFW MTN RegS 4.125 02/18/2026 0.37
EUROPEAN INVESTMENT BANK MTN RegS 1 09/21/2026 0.35
KFW MTN RegS 1.375 12/15/2025 0.33
KFW BANKENGRUPPE MTN 5.75 06/07/2032 0.31
TESCO PROPERTY RegS 0.31
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Apr/2024

% of Market Value

Type Fund Benchmark Net
as of 30/Apr/2024

% of Market Value

Type Fund Benchmark Net
as of 30/Apr/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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class H GBP 1.23 0.00 -0.12 31/May/2024 1.26 1.13 GB00BJL5BV43
Class H GBP 0.97 0.00 -0.12 31/May/2024 1.00 0.91 GB00BKF2KH76
Class S GBP 0.87 0.00 -0.12 31/May/2024 0.88 0.79 GB00BN08ZN29
Class L GBP 1.14 0.00 -0.12 31/May/2024 1.18 1.07 GB00B847N473
Class D GBP 1.13 0.00 -0.12 31/May/2024 1.16 1.06 GB00B7J60R40
Class D GBP 1.53 0.00 -0.12 31/May/2024 1.56 1.40 GB00B84DSW83
Class L GBP 1.54 0.00 -0.12 31/May/2024 1.57 1.40 GB00B5MMQ552

Portfolio Managers

Portfolio Managers

Divya Manek
Divya Manek
PortSols CREDIT LON GFI - Group
PortSols CREDIT LON GFI - Group

Literature

Literature