020 7189 9999
No Bestinvest rating



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.

  • Standard Initial Charge 0.00%
  • Initial charge via Bestinvest 0.00%

Fund summary

Sector Global
Structure UNIT TRUST
Launched June, 2011
Size £164m
Yield 1.8%
Charging basis Income
Dividends paid 30 Nov


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.14%
Annual management charge 0.75%
Ongoing charges figure 0.93%


Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Investor Information Document, which we make available to you before you make a decision to invest, alternatively it is available on request.

Bestinvest view

No information available.


Allocation Proportion(%)
Equity 98
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 2
Allocation Proportion(%)
UK 14
Europe 21
North America 56
Japan 0
Pacific 8
Emerging Markets 1
Allocation Proportion(%)
Large Caps 88
Mid Caps 12
Small Caps 0

View all performance data for this fund

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.

Live feed

Bid price(inc) 202.30p
Accum units 257.90p
Fund commentary
Fund data updated on 09/12/21

Asset allocation

Allocation Proportion(%)
Equity 98
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 2

Equity Geographic

Allocation Proportion(%)
UK 14
Europe 21
North America 56
Japan 0
Pacific 8
Emerging Markets 1

Equity Capitalisation

Allocation Propor
Large Caps 88
Mid Caps 12
Small Caps 0

Top 10 holdings

As at: 31/10/2021
5.0037%Microsoft Corp
4.5064%Adobe Inc
4.5048%Alphabet Inc
4.0306%Intuit Inc
3.9189%Asml Holding Nv
3.8522%Thermo Fisher Scientific Inc
3.7814%Schneider Electric Se
3.7659%Mastercard Inc
3.6024%Rentokil Initial Plc
3.5067%Nestle Sa
Source: Trustnet

Sector breakdown

Information Technology 29%
Industrials 23%
Health Care 12%
Financials 10%
Consumer Staples 9%
Communications 7%
Materials 6%
Consumer Discretionary 3%
Money Market 2%

Portfolio details

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.
The portfolio usually has very little commonality with the benchmark and so performance can be expected to differ markedly on occasions.

Average monthly relative returns Bestinvest MRI
17/18 18/19 19/20 20/21 21/22   3 years 5 years Career 3 years 5 years Career
-0.28% -0.15% -0.25% -0.72% -0.20%   -0.39% -0.32% -0.25% 10.00% 10.80% 11.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Thomas Callan / Ian Jamieson

Manager. 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 7.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.25%. During the worst period of relative performance (from June 2015 - September 2021) there was a decline of 21% relative to the index. The worst absolute loss has been 16%.

Periods of worst performance
Absolute -16% (July 2019 - March 2020)
Relative -21% (June 2015 - September 2021)

Other funds managed

Sector record since July 2014 (7 yrs)

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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