We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

BlackRock Continental European Income Fund Class D - Income (GBP)

Sell:217.21p Buy:217.73p Change: 0.54p (0.25%)
Prices as at 10 October 2025
Sell:217.21p
Buy:217.73p
Change: 0.54p (0.25%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 10 October 2025
Sell:217.21p
Buy:217.73p
Change: 0.54p (0.25%)
Prices as at 10 October 2025
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This fund aims to provide investors with an attractive income alongside growth in their investment.

Andreas Zoellinger, a manager of this fund since launch in May 2011, stepped down as co-manager at the end of 2024 and retired from BlackRock and the fund management industry in early 2025. Brian Hall remains a co-manager of the fund and was joined by Stuart Brown in July 2024.

Hall has a long track record of investing in European companies. He joined BlackRock in 2007 and has co-managed this fund since March 2021. Brown previously spent 11 years at Aberdeen and has managed European income funds since January 2021.

The managers also work closely with and draw on the support of the wider European team at BlackRock, where idea sharing, challenge and debate are encouraged. It’s currently one of the largest teams covering European shares in the industry, and we hold the team in high regard.

We think the fund could work well in an investment portfolio focused on income or provide diversification to European and other global funds focused on growth. The managers also aim to provide some resilience during turbulent market periods, which could provide some balance in a more adventurous portfolio.

Our view on the sector

Europe has been blighted by political issues in recent years. And some European economies are struggling with high levels of debt and unemployment. But it's important to disconnect a region's economic prospects from its stock market prospects. Europe is home to lots of successful businesses that make money across the globe - from the US to high-growth areas like Asia and emerging markets. That means their prospects aren't heavily reliant on Europe's economy. Some investors have overlooked the region in recent years. But we think Europe is a great place to invest for the long term and there are plenty of high quality fund managers to choose from.

Performance Analysis

Since Hall became the fund’s co-manager in February 2021, it’s performed better than the average fund in the IA Europe excluding UK sector.

Over the long run, the fund has delivered an attractive yield for investors, above the one produced by the market, though income is not guaranteed, and yields aren't a reliable indicator of future income. Please note the fund's charges can be taken from capital rather than income. This increases the yield but reduces the potential for capital growth.

The managers' more cautious approach than some others in the sector and the defensive nature of the fund mean we don't expect it to fall as much as others in periods of uncertainty, but we would expect it to lag when markets rise. This should lead to less volatile performance, though all investments fall as well as rise in value, so you could get back less than you invest.

Investment Philosophy

The managers look for companies that can help them deliver a growing income, with the potential for long-term growth. They want to achieve this while experiencing less volatility than peers in the European sector, providing some resilience in tough markets.

They'll invest in companies they feel have a competitive advantage or brand that others struggle to replicate, strong balance sheets, and high-quality management teams. And to help achieve lower levels of volatility compared to other European funds, the team also consider how cash generative a business is, as well as how resilient they think it'll be in a market downturn.

Process and Portfolio Construction

The fund is split into three buckets - premium yield, compounding growth and unique opportunities. The managers tend to invest in larger, more established European businesses, but can also invest in some higher-risk small and medium-sized businesses as well.

- Premium yield companies offer an average yield (a measure of income) above the market. These must be run by high-quality management teams and be cash generative.

- Compounding growth companies are considered the more resilient investments. They’re expected to deliver a more stable level of growth and resilient income streams.

- Unique opportunities companies have lower yields but offer greater potential for capital and dividend growth. These are viewed as world-class companies, which have underappreciated or strong growth potential.

The fund can be quite concentrated, which means each investment could have a big impact on performance, and it lends some of its investments to others in exchange for a fee in a process known as stock lending. These factors can add risk.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

10/10/20 to 10/10/21 10/10/21 to 10/10/22 10/10/22 to 10/10/23 10/10/23 to 10/10/24 10/10/24 to 10/10/25
Annual return 10.11% -8.36% 12.63% 14.50% 19.23%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Information about the fund

Fund manager biography

manager photo
Manager Name: Andreas Zoellinger
Manager start date: 6 May 2011
Manager located in: London

Andreas Zoellinger, CFA, Director and assistant portfolio manager, is a member of the European Equity team within the Fundamental Equity division of BlackRock's Portfolio Management Group. Mr. Zoellinger is assistant portfolio manager for the BGF Euro Markets Fund and is responsible for covering Material stocks. Mr. Zoellinger service with the firm dates back to 2001, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Prior to joining MLIM as an analyst within the European Equity team, he was a trainee with a major German bank. Mr. Zoellinger earned a Diplom-Kaufmann degree in Business Administration from the University of Munich & the University of Edinburgh in 2001.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now