BlackRock Global Equity D

Formerly a fund of multinationals, fund now has a broader mandate.

  • 201.80p
    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.

  • 236.20p
    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!

  • 0.75%
    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).

  • 0.93%
    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.

  • 1.80%

    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 14 June 2021

The fund targets long-term capital growth by investing primarily in a global portfolio of equity securities. Portfolio companies will primarily be based in developed markets, but some emerging market stocks will also be included. The investment process aims to identify and exploit market inefficiencies by using a combination of stock specific and macroeconomic analysis.

Fund summary

Sector Global
Structure UNIT TRUST
Launched June, 2011
Size £107m
Yield 1.80%
Charging basis Income
Dividends paid 30 Nov


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.25%
Annual management charge 0.75%
Ongoing charges figure 0.93%


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Investment process

The research process begins with a universe of over 3000 companies with a market capitalisation above US$2bn and sufficient trading liquidity. Ideas are sourced from company meetings, conferences, brokers and other BlackRock teams. Research is then undertaken in four research clusters – cyclical, defensive, financial and information - to identify 80-100 high conviction recommendations, with a focus on identifying catalysts likely to drive underappreciated stocks over a clear time frame. The global managers then form a core global model portfolio, clustered around broad macroeconomic themes, of 40-60 stocks which they believe offer at least 30% absolute upside potential.

Manager research

Average monthly relative returns

  • 16/17 0.07%
  • 17/18 -0.76%
  • 18/19 0.16%
  • 19/20 -0.14%
  • 20/21 -0.68%

Bestinvest MRI

  • 3 years -0.22%
  • 5 years -0.27%
  • Career -0.24%
  • 3 years 30.90%
  • 5 years 16.40%
  • Career 13.80%

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

Thomas Callan / Ian Jamieson

Callan earned an Economics degree, graduating in 1981 from Boston College. He began as a personal trust portfolio manager for PNC Bank. Callan progressed to the position of health care analyst, later serving as an equity analyst. He joined the Global Opportunities team at Blackrock in 1996.

Track record

Thomas Callan / Ian Jamieson has 6.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.24%. During the worst period of relative performance (from June 2015 - January 2021) there was a decline of 21% relative to the index. The worst absolute loss has been 16%.

Periods of worst performance

Absolute -16.00% (July 2019 - March 2020)
Relative -21.00% (June 2015 - January 2021)

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.


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Top 10 holdings

Data accurate as at 31 July 2020

4.0501% Unilever Nv
3.3727% Telus Corp
3.3508% Coca-Cola Co
3.023% Sanofi
2.8944% Lockheed Martin Corp
2.8774% Philip Morris International Inc
2.8177% Paychex Inc
2.7749% Medtronic Inc
2.7011% Abbvie Inc
2.7% Novartis Ag
Source: Trustnet

Sector breakdown

Consumer Staples 25.00%
Health Care 24.00%
Industrials 18.00%
Information Technology 8.00%
Communications 8.00%
Consumer Discretionary 7.00%
Financials 6.00%
Materials 3.00%
Money Market 1.00%


40-60 stocks.


A maximum of 10% of active risk from any one stock, industry or region. No constraints are imposed on the weights of countries, sectors or stocks.

Key Investor Information - Income


Key Investor Information - Accumulation