BlackRock Consensus 85 D

Investing in Blackrock's internal range of funds with the potential to add value by using equities, bonds and cash.

  • 254.80p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.20%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.22%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 2.10%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 26 January 2021

The fund manager seeks to achieve a total return by primarily using Blackrock's own fund range. The investment management team will make asset allocation decisions and will look to add value by using either equities, fixed income products or by hedging indices. Whilst low cost tracker funds have a place within a balanced portfolio for core exposure to equities and bonds we prefer a more active approach.

Fund summary

Sector Mixed Investment 40-85% Shares
Structure UNIT TRUST
Launched July, 2012
Size £2,594m
Yield 2.10%
Charging basis
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.31%
Annual management charge 0.20%
Ongoing charges figure 0.22%

Allocation

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Investment process

To achieve its goal of providing total returns the managers invest primarily through investment in units of collective investment schemes managed by the Manager, adopting the "The consensus strategy". This strategy seeks to replicate the same asset allocation as the average UK pension fund and implements this through index funds. The underlying funds are themselves invested in equities and to a lesser extent in government securities and other fixed interest investments, alternative assets and cash. Derivatives and forward transactions may be used for hedging purposes.

This fund may appeal to large pension funds or schemes where the aim is to minimise costs as well as risk relative (in terms of deviations away from the benchmark) to global assets. Whilst low cost tracker funds have a place within a balanced portfolio for core exposure to equities and bonds we prefer a more active approach. Such as our rated multi-asset funds or a diversified selection of our rated regional funds.

Manager research

Average monthly relative returns

  • 16/17 -0.19%
  • 17/18 0.05%
  • 18/19 -0.25%
  • 19/20 -0.11%
  • 20/21 -0.19%

Bestinvest MRI

  • 3 years -0.18%
  • 5 years -0.14%
  • Career -0.16%
  • 3 years 8.50%
  • 5 years 14.50%
  • Career 8.10%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Stephen Walker

Walker, Director and portfolio manager, is a member of the Beta Strategies Group. Within Beta Strategies, he is head of the Index Asset Allocation team in EMEA. Walker's service with the firm dates back to 2007, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was a portfolio manager in the Client Solutions team. Prior to joining BGI, Walker was a portfolio manager in the discretionary investment team at Coutts & Co bank for over 12 years.

Track record

Stephen Walker has 6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.16%. During the worst period of relative performance (from February 2014 - October 2020) there was a decline of 12% relative to the index. The worst absolute loss has been 17%.

Periods of worst performance

Absolute -17.00% (January 2020 - March 2020)
Relative -12.00% (February 2014 - October 2020)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

21.7587% Ishrs Uk Eq Idx Fd (Uk) L Acc
14.7644% Ishrs Nrth Am Eq Idx Fd (Uk) L Acc
13.1846% Ishr Cont Eur Eq Idx Fd (Uk) L Acc
8.6503% Ishrs Oseas Corp Bd Idx (Uk) L Acc
6.0711% Blackrock Cash X Acc
5.3355% Ishrs Oseas Gov Bd Idx (Uk) L Acc
5.2277% Ishrs Corp Bd Idx Fd (Uk) L Acc
4.513% Ishrs Jap Eq Idx Fd (Uk) L Acc
3.9867% Ishrs Us Eq Idx Fd (Uk) D Acc
3.9693% Ishrs 100 Uk Eq Idx Fd (Uk) D Acc
Source: Trustnet

Portfolio

Assets are closely in line with a typical managed pension fund. I.e. a bias to equities (predominantly UK) with a smaller balance in bonds and alternative assets.

Key Investor Information

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