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BLACKROCK CONTINENTAL EUROPEAN INCOME D

Bestinvest LogoA large and mid-cap European (ex UK) equity fund with an attractive yield.

PRICE (INC)

177.9433p

PRICE (ACC)

293.2527p

INITIAL CHARGE

0%

ANNUAL MANAGEMENT CHARGE

0.75%

ONGOING CHARGE

0.92%

YIELD

4.4%

1 YEAR
7.43%
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Prices as at 07 Dec 2023.

Fund commentary last updated 21 Nov 2022.

Past performance is not an indication of future performance.

Capital at risk.

The aim of the Fund is to provide an above average income return (gross of fees) from its equity investments (i.e. shares), compared to the income produced by European equity markets (excluding the UK) as represented by FTSE World Europe Ex UK Index (i.e. a level of income which exceeds that produced by the constituents of the index), without sacrificing capital growth (i.e. the value of the assets held by the Fund) over the long term (5 or more consecutive years beginning at the point of investment). In seeking to achieve its investment objective, the Fund will invest at least 70% of its total assets in the equity securities (i.e. shares) or equity-related investments (i.e. other investments whose value is related to equities) of companies domiciled in, or exercising the predominant part of their economic activity in Europe excluding the UK.

Fund summary

SectorEurope Excluding UK
StructureUNIT TRUST
LaunchedMay 2011
Size£1,424m
Yield4.4%
Dividends paidJanuary, April, July, October

Charges

Standard Initial Charge0%
Initial Charge Via BestInvest0%
Additional Bid/Offer Spread0.18%
Annual Management Charge0.75%
Ongoing Charges Figure0.92%

Investment Process

The fund’s investment universe comprises around 300 to 350 continental European companies with a market value over £1billion. Zoellinger and his team select stocks from amongst buy-rated recommendations made by the BlackRock European team. The fund’s management team wants companies with reliable dividends, strong corporate governance, a strong competitive position, financial discipline, and earnings stability. Zoellinger and Hall avoid highly volatile stocks. The portfolio includes three types of business – ‘high yielding’ companies where the dividend is secure, ‘stable quality’ companies offering solid dividends and highly predictable dividend growth and ‘structural winners’ offering high dividend growth but lower current yields. There is no yield requirement for individual stocks, though the managers avoid stocks with no imminent dividend. Indeed, Zoellinger will consider selling stocks if there is uncertainty about the next dividend payment. He is not a fan of holdings who “won’t pay” rather than “can’t pay”. The portfolio is concentrated, holding around 40 stocks with the largest weightings being around 4%.

The information on this website is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. The value of investments and the income from them can go down as well as up and you may not get back the amount invested.

Past performance is not a guide to future performance. View full risk warning