BlackRock Natural Resources Growth & Income D

Targets an above average income from its equity investment

  • 95.05p
    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.

  • 127.20p
    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).

  • 1.08%
    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.

  • 3.10%
    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 February 2021

Fund summary

Sector Specialist
Structure UNIT TRUST
Launched May, 2011
Size £37m
Yield 3.10%
Charging basis Capital
Dividends paid 28 Feb, 31 May, 31 Aug, 30 Nov

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.33%
Annual management charge 0.75%
Ongoing charges figure 1.08%

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Investment process

The aim of the BlackRock World Resources Income Fund is to achieve an above average income from its equity investments, compared to the income yield of the natural resources sector. The Fund will invest primarily in the equity securities of companies whose predominant economic activity is in the natural resources sector which includes, but is not limited to, mining, agriculture and energy. The Fund may also invest in other transferable securities, permitted money market instruments, permitted deposits, cash and near cash and units in collective investment schemes. Derivatives may be used for the purposes of efficient portfolio management.

Manager research

Average monthly relative returns

  • 16/17 -1.58%
  • 17/18 -0.79%
  • 18/19 -0.30%
  • 19/20 -0.89%
  • 20/21 -1.83%

Bestinvest MRI

  • 3 years -1.01%
  • 5 years -1.08%
  • Career 0.10%
  • 3 years 9.30%
  • 5 years 5.10%
  • Career 69.20%

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

Richard Davis / Joshua Freedman / Thomas Holl

Davis’ service with the firm dates back to 1994, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Prior to joining MLIM, he worked as a geologist for three years in Ireland and worked on mineral exploration and resource evaluation projects in base metals, gold and diamonds. Davis earned a BA degree in geology from Trinity College in 1989, and an MSc degree in mineral exploration from Imperial College in 1990. Freedman is responsible for covering the global energy and energy technology sectors as well as managing income mandates. He has been with the firm since 2006, including his years with Merrill Lynch Investment Managers (MLIM). Prior to joining the team, he worked on BlackRock’s Emerging Europe team. Joshua began his career with MLIM. He earned a BA degree, with honours, in engineering from Downing College, Cambridge in 2006. Holl is responsible for covering the gold and mining sectors as well as managing gold and income mandates and segregated portfolios. He moved to his current role in 2008 although his service with the firm dates back to 2006, including his years with Merrill Lynch Investment Managers (MLIM). Holl was a member of the Global Equity team and the Real Estate team as a member of the graduate training program. He earned a BA degree, with honours, in Land Economy from Cambridge University in 2006.

Track record

Richard Davis / Joshua Freedman / Thomas Holl has 9.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.1%. During the worst period of relative performance (from November 2015 - October 2020) there was a decline of 55% relative to the index. The worst absolute loss has been 35%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 69%.

Periods of worst performance

Absolute -35.00% (June 2011 - January 2016)
Relative -55.00% (November 2015 - 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

6.2322% Bhp Group Plc
4.9749% Total Se
4.6435% Chevron Corp
4.376% Vale Sa
4.2809% Newmont Corp
4.2543% Cf Industries Holdings Inc
4.1955% Bp
4.0091% Barrick Gold Corp
3.8126% Fmc Corp
3.5628% Wheaton Precious Metals Corp
Source: Trustnet

Sector breakdown

Mining Finance 38.00%
Fishery, Agriculture & Forestry 30.00%
Energy 30.00%
Money Market 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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