Fixed Income

iShares UK Credit Bond Index Fund (IE)

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  • NAV as of 27/Oct/2021 GBP 21.81
    52 WK: 21.35 - 22.45
  • 1 Day NAV Change as of 27/Oct/2021 0.24 (1.10%)
  • Morningstar Rating

Overview

WHY ?

  1. Diversified portfolio of securities tracking the credit, sector, duration and yield curve exposure
    of the benchmark index
  2. Seeks to minimise transaction costs by leveraging our trading expertise and experience
  3. Looks to reduce tracking error to the benchmark index through rigorous risk control

Investment Approach

The BlackRock UK Credit Bond Index Fund aims to generate a total return, taking into account both capital and income returns, which reflects the total return of the sterling denominated bond market, excluding UK gilts

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 financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. 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 investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. 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. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events.

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

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Share Class and Benchmark performance displayed in GBP. Source: BlackRock. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested. Source: BlackRock. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product.

Reinvestments

This product does not have any distributions data as of now.
Record Date Ex-Date Payable Date Total Distribution
  From
30/Sep/2016
To
30/Sep/2017		 From
30/Sep/2017
To
30/Sep/2018		 From
30/Sep/2018
To
30/Sep/2019		 From
30/Sep/2019
To
30/Sep/2020		 From
30/Sep/2020
To
30/Sep/2021
Total Return (%)

as of 30/Sep/2021

-0.16 0.16 10.18 3.98 -0.35
Benchmark (%)

as of 30/Sep/2021

-0.19 0.17 10.15 3.82 -0.41
  1y 3y 5y 10y Incept.
Total Return (%)

as of 30/Sep/2021

-0.35 4.52 2.69 5.48 5.60
Benchmark (%)

as of 30/Sep/2021

-0.41 4.43 2.63 5.46 5.43
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%)

as of 30/Sep/2021

-3.42 -2.21 -0.99 -0.35 14.17 14.17 70.48 116.35
Benchmark (%)

as of 30/Sep/2021

-3.42 -2.20 -0.98 -0.41 13.89 13.86 70.09 111.45
  2016 2017 2018 2019 2020
Total Return (%) 10.83 4.31 -1.56 9.30 7.98
Benchmark (%) 10.66 4.33 -1.53 9.27 7.80

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.

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

Size of Fund (Millions) as of 27/Oct/2021 GBP 245.34
Fund Launch Date 30/Sep/2000
Share Class launch date 03/Aug/2007
12m Trailing Yield -
Number of Holdings as of 30/Sep/2021 1,052
Base Currency British Pound
Asset Class Fixed Income
Morningstar Category GBP Corporate Bond
Benchmark Index iBoxx Sterling Non-Gilts Index
SFDR Classification Other
Valor -
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Ongoing Charges Figures 0.15%
ISIN IE00B1W4R618
Bloomberg Ticker BARUKIN
Annual Management Fee 0.12%
Initial Charge 0.00
Performance Fee 0.00%
SEDOL B1W4R61
Bloomberg Benchmark Ticker UKCBIFTTHP
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment GBP 500,000.00
Minimum Subsequent Investment GBP 50,000.00
Use of Income Accumulating

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of 07/Oct/2021 AA
MSCI ESG Quality Score (0-10) as of 07/Oct/2021 7.99
MSCI ESG Quality Score - Peer Percentile as of 07/Oct/2021 63.06
MSCI ESG % Coverage as of 07/Oct/2021 90.40
Fund Lipper Global Classification as of 07/Oct/2021 Bond GBP Corporates
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07/Oct/2021 121.51
Funds in Peer Group as of 07/Oct/2021 379
All data is from MSCI ESG Fund Ratings as of 07/Oct/2021, based on holdings as of 31/May/2021. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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.

Business Involvement

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 30/Sep/2021 0.00%
MSCI - UN Global Compact Violators as of 30/Sep/2021 0.73%
MSCI - Nuclear Weapons as of 30/Sep/2021 0.00%
MSCI - Thermal Coal as of 30/Sep/2021 0.06%
MSCI - Civilian Firearms as of 30/Sep/2021 0.00%
MSCI - Oil Sands as of 30/Sep/2021 0.00%
MSCI - Tobacco as of 30/Sep/2021 0.91%
Business Involvement Coverage as of 30/Sep/2021 86.46%
Percentage of Fund not covered as of 30/Sep/2021 13.54%
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 0.46% and for Oil Sands 1.05%.

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.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for iShares UK Credit Bond Index Fund (IE), Inst, as of 30/Sep/2021 rated against 441 GBP Corporate Bond Funds.

Holdings

Holdings

as of 30/Sep/2021
Name Weight (%)
TESCO PROPERTY RegS 0.65
KFW BANKENGRUPPE MTN 6 12/07/2028 0.60
INTER-AMERICAN DEVELOPMENT BANK 1.25 12/15/2023 0.40
EUROPEAN INVESTMENT BANK MTN RegS 2.5 10/31/2022 0.39
EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.39
Name Weight (%)
EUROPEAN INVESTMENT BANK MTN RegS 1.375 03/07/2025 0.38
EUROPEAN INVESTMENT BANK MTN RegS 0.875 12/15/2023 0.38
KFW MTN RegS 0.875 07/18/2024 0.38
ELECTRICITE DE FRANCE SA MTN RegS 5.5 10/17/2041 0.37
EUROPEAN INVESTMENT BANK 5 04/15/2039 0.36
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Sep/2021

% of Market Value

Type Fund Benchmark Net
as of 30/Sep/2021

% of Market Value

Type Fund Benchmark Net
as of 30/Sep/2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30/Sep/2021

% of Market Value

Type Fund Benchmark Net
as of 30/Sep/2021

% of Market Value

Type Fund Benchmark Net
as of 30/Sep/2021

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Inst GBP None 21.81 0.24 1.10 22.45 21.35 21.73 IE00B1W4R618 21.90 -
Inst GBP Quarterly 12.60 0.14 1.10 13.33 12.33 12.55 IE00B2RKYS27 12.65 -
Class D GBP - 53.10 0.58 1.10 56.19 51.98 52.88 IE00BGWKS388 53.31 -
Class D GBP None 11.57 0.13 1.10 11.91 11.33 11.53 IE00BD0NC474 11.62 -

Portfolio Managers

Portfolio Managers

PortSols CREDIT LON GFI - Group
PortSols CREDIT LON GFI - Group

Literature

Literature