BlackRock UK Income A Acc

IMA Sector:

UK Equity Income

ISIN:

GB0005804942

Fund Type:

Unit Trust

2,078.36p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 27-Mar-2024
  • Change: 0.16p
  • Change %: 0.01%
  • Currency: GBP
  • YTD change: 16.03p
  • YTD %: 0.78%

Fund Objective

To provide an above-average and growing income without sacrificing the benefits of long-term capital growth.

View on Past Performance

The Fund returned -12.0% over the quarter, marginally outperforming the return of the FTSE All-Share index, which ended 12.4% lower. Against a background of growing concerns on economic growth and the financial system, the mining sector generally had a poor month, as weaker commodity prices drove share prices lower. However, we benefited from our avoidance of this sector, substantially benefiting relative performance.Elsewhere, the US dollar's rally against sterling helped pharmaceuticals, and AstraZeneca performed well, while insurance companies Provident Financial and Amlin also contributed positively. In contrast, the fall in the oil price caused Tullow Oil to underperform, although this was offset by the zero weight in Royal Dutch Shell, while Enterprise Inns fell following a downbeat trading statement.Although we have been overweight in financials, we have focussed on companies that would benefit from expectations of interest rate cuts. The property sector has been extremely weak leaving shares on high yields therefore we purchased new holdings in Land Securities and British Land. We also bought the life assurance company Aviva.Within UK banks, we have maintained a broadly neutral position, selling HBOS before the share price collapse, but buying back into Lloyds TSB after the announcement of its proposed acquisition of HBOS. Given concerns over consumer spending, other activity saw us trim the holding in Halfords and exit British Airways, which had benefitted from fuel price weakness as well as rumours of a merger with Iberia.We also sold the position in catering group Compass. Amid volatile equity markets, we added to some of our defensive positions, namely Imperial Tobacco and National Grid. We also added to Tullow Oil and the oil services company Amec, taking advantage of share price weakness associated with the lower oil prices.

Fund Details

Latest Price 2,078.36p IMA Sector UK Equity Income
Currency British Pound Launch Date 16/03/1984
Fund Size n/a Fund Manager Nick McLeod-Clarke
ISIN GB0005804942 Dividend 0.00p
 

Price Info

Date 27-Mar-2024
Bid 2,021.94p
Offer 2,134.78p
Currency GBP
Change 0.16p
% 0.01%
YTD change 16.03p
YTD % 0.78%

Fund Facts

Fund Inception 16/03/1984
Fund Manager Nick McLeod-Clarke
TER 0.02 (27-Jun-2014)

Fund Reports

Minimum Investment
Initial £500
Additional n/a
Savings £50
Charges
Initial 5.00%
Annual Mang't 1.50%
Exit n/a

Risks

Name %
Standard deviation 0.01
Sharpe ratio 0.08

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