Multi Asset

BGF Global Allocation Fund

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

Loading

Performance

Performance

Chart

View full chart

Distributions

Ex-Date Total Distribution
View full table

This chart shows the fund's performance as the percentage loss or gain per year over the last 0 years.

  2019 2020 2021 2022 2023
Total Return (%)
Target Benchmark 1 (%)

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
17.56 - - - 8.25
Target Benchmark 1 (%) 22.87 - - - 13.43
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
8.44 1.08 2.98 3.74 17.56 - - - 9.96
Target Benchmark 1 (%) 12.15 1.63 6.27 7.56 22.87 - - - 16.28
  From
30.Sept.2019
To
30.Sept.2020
From
30.Sept.2020
To
30.Sept.2021
From
30.Sept.2021
To
30.Sept.2022
From
30.Sept.2022
To
30.Sept.2023
From
30.Sept.2023
To
30.Sept.2024
Total Return (%)

as of 30-Sept-2024

- - - - 17.56
Target Benchmark 1 (%)

as of 30-Sept-2024

- - - - 22.87

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in CNH, hedged share class benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund
as of 31-Oct-2024
USD 15’019’311’595.73
Fund Launch Date
03-Jan-1997
Base Currency
USD
Target Benchmark 1
S&P 500 (36%); FTSE World (ex-US) (24%); 5 Yr US Treasury Note (24%) and FTSE Non-USD World Government Bond Index (16%)
Initial Charge
5.00%
Management Fee
1.50%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGFGBAC
Share Class launch date
19-Jul-2023
Share Class Currency
CNH
Asset Class
Multi Asset
SFDR Classification
Other
Ongoing Charges Figures
1.78%
ISIN
LU2637965604
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BNDC252

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30-Sept-2024
1’228
3y Beta
as of -
-
Average Market Cap (Millions)
as of 30-Sept-2024
USD 571’883 M
Effective Duration Fixed Income
as of 30-Sept-2024
7.23
12 Month Trailing Dividend Distribution Yield
as of 30-Sept-2024
5.78
Equity Price/Earnings (FY1)
as of 30-Sept-2024
20.10
Effective Duration
as of 30-Sept-2024
2.10 yrs
Effective Duration Fixed Income and Cash
as of 30-Sept-2024
5.32

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.

The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of 21-Sept-2024
A
MSCI ESG Quality Score (0-10)
as of 21-Sept-2024
6.76
Fund Lipper Global Classification
as of 21-Sept-2024
Mixed Asset USD Bal - Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Sept-2024
133.35
MSCI ESG % Coverage
as of 21-Sept-2024
87.75
MSCI ESG Quality Score - Peer Percentile
as of 21-Sept-2024
73.52
Funds in Peer Group
as of 21-Sept-2024
253
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Sept-2024
68.42
All data is from MSCI ESG Fund Ratings as of 21-Sept-2024, based on holdings as of 30-Apr-2024. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of 30-Sept-2024
0.01%
MSCI - Nuclear Weapons
as of 30-Sept-2024
0.00%
MSCI - Civilian Firearms
as of 30-Sept-2024
0.00%
MSCI - Tobacco
as of 30-Sept-2024
0.15%
MSCI - UN Global Compact Violators
as of 30-Sept-2024
0.10%
MSCI - Thermal Coal
as of 30-Sept-2024
0.41%
MSCI - Oil Sands
as of 30-Sept-2024
0.29%

Business Involvement Coverage
as of 30-Sept-2024
70.03%
Percentage of Fund not covered
as of 30-Sept-2024
30.38%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.81% and for Oil Sands 1.84%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Global Allocation Investment Team believes that a company's ability to manage material environmental, social and governance (ESG) issues may be relevant to the company's ability to sustain growth and generate value for shareholders over the long term, and thus ESG performance indicators are considered as part of the investment process. The team analyzes ESG data when conducting research and due diligence on new investments, and when monitoring existing investments within the portfolio. The team's ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

 

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Portfolio Managers

Portfolio Managers

Rick Rieder
Managing Director, CIO of Global Fixed Income

  

Russ Koesterich
Managing Director

Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team and the lead portfolio manager of the GA Selects Model Portfolios.

Holdings

Holdings

as of 30-Sept-2024
Name Weight (%)
MICROSOFT CORP 2.72
NVIDIA CORP 2.16
AMAZON COM INC 1.63
APPLE INC 1.57
ALPHABET INC CLASS C 1.34
Name Weight (%)
UNITEDHEALTH GROUP INC 0.89
META PLATFORMS INC CLASS A 0.86
MASTERCARD INC CLASS A 0.83
PROGRESSIVE CORP 0.80
WALMART INC 0.75
as of 30-Sept-2024
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 2.3 02/15/2033 1.99
UK CONV GILT 1.25 07/22/2027 1.31
TREASURY NOTE 4.125 07/31/2028 1.28
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.22
GERMANY (FEDERAL REPUBLIC OF) 1.7 08/15/2032 1.13
Name Weight (%)
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.82
TREASURY NOTE 4 06/30/2028 0.79
TREASURY NOTE 4.875 10/31/2028 0.64
TREASURY (CPI) NOTE 2.125 04/15/2029 0.48
TREASURY NOTE 5 09/30/2025 0.47
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sept-2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 30-Sept-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Sept-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Sept-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Sept-2024

% of Market Value

Type Fund Benchmark Net

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.


% of Net Assets represents the Fund’s exposure based on the economic value of securities and is adjusted for futures, options, and swaps (except with respect to fixed income securities), and convertible bonds.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A10 Hedged CNH 99.16 -1.88 -1.86 31-Oct-2024 103.53 89.78 LU2637965604
Class D2 USD 89.51 -1.17 -1.29 31-Oct-2024 92.12 73.60 LU0329592538
Class A10 Hedged ZAR 101.34 -2.17 -2.10 31-Oct-2024 105.81 90.13 LU2637965943
Class X4 USD 16.75 -0.22 -1.30 31-Oct-2024 17.33 14.01 LU0953392981
Class A9 USD 9.39 -0.13 -1.37 31-Oct-2024 9.74 8.01 LU2354320561
Class A10 Hedged EUR 10.19 -0.18 -1.74 31-Oct-2024 10.60 9.02 LU2637965786
Class A10 Hedged HKD 101.84 -1.88 -1.81 31-Oct-2024 106.05 90.31 LU2637965430
Class X2 Hedged JPY 1’431.00 -20.00 -1.38 31-Oct-2024 1’479.00 1’230.00 LU1445720094
Class A2 EUR 72.56 -1.05 -1.43 31-Oct-2024 74.32 61.59 LU0171283459
Class A9 Hedged AUD 8.86 -0.12 -1.34 31-Oct-2024 9.19 7.68 LU2354320728
Class A10 Hedged SGD 10.10 -0.18 -1.75 31-Oct-2024 10.52 9.00 LU2637965513
Class D4 GBP 58.72 -0.25 -0.42 31-Oct-2024 59.93 52.14 LU1852330908
Class A10 Hedged AUD 10.03 -0.19 -1.86 31-Oct-2024 10.45 8.99 LU2637965869
Class A10 USD 10.28 -0.19 -1.81 31-Oct-2024 10.71 9.05 LU2637965356
Class X2 EUR 96.90 -1.39 -1.41 31-Oct-2024 99.19 80.85 LU0984173384
Class J2 USD 105.95 -1.38 -1.29 31-Oct-2024 108.94 86.29 LU0304953069
Class A4 Hedged EUR 40.36 -0.54 -1.32 31-Oct-2024 41.64 34.45 LU0240613025
Class AI2 EUR 14.47 -0.21 -1.43 31-Oct-2024 14.82 12.28 LU1960222104
Class A9 Hedged SGD 8.99 -0.12 -1.32 31-Oct-2024 9.33 7.81 LU2354320645
Class A2 Hedged EUR 44.39 -0.60 -1.33 31-Oct-2024 45.80 37.49 LU0212925753
Class A2 Hedged GBP 38.11 -0.51 -1.32 31-Oct-2024 39.25 31.76 LU0236177068
Class X10 USD 11.09 -0.22 -1.95 31-Oct-2024 11.55 9.96 LU2699150301
Class B10 USD 9.85 -0.18 -1.79 31-Oct-2024 10.27 9.50 LU2776654092
Class X2 USD 105.25 -1.37 -1.28 31-Oct-2024 108.22 85.72 LU0328507826
Class A2 Hedged AUD 21.57 -0.29 -1.33 31-Oct-2024 22.23 18.18 LU0468326631
Class D2 EUR 82.40 -1.19 -1.42 31-Oct-2024 84.38 69.42 LU0523293024
Class A2 Hedged CHF 13.96 -0.19 -1.34 31-Oct-2024 14.44 12.04 LU0343169966
Class I2 EUR 83.06 -1.20 -1.42 31-Oct-2024 85.05 69.83 LU1653088838
Class C2 USD 56.79 -0.74 -1.29 31-Oct-2024 58.55 47.64 LU0147395726
Class X2 Hedged AUD 27.51 -0.37 -1.33 31-Oct-2024 28.30 22.79 LU0525289509
Class A2 HUF 29’597.99 -404.25 -1.35 31-Oct-2024 30’002.24 23’544.34 LU0566074125
Class D2 Hedged EUR 50.42 -0.67 -1.31 31-Oct-2024 51.98 42.27 LU0329591480
Class AI2 Hedged EUR 12.35 -0.17 -1.36 31-Oct-2024 12.74 10.43 LU1960222286
Class C2 Hedged EUR 32.00 -0.43 -1.33 31-Oct-2024 33.06 27.37 LU0212926058
Class A4 EUR 69.03 -1.00 -1.43 31-Oct-2024 70.71 59.22 LU0408221512
Class E2 Hedged PLN 21.33 -0.29 -1.34 31-Oct-2024 21.97 17.82 LU0530192003
Class A2 Hedged SGD 17.54 -0.24 -1.35 31-Oct-2024 18.10 14.82 LU0308772762
Class D2 Hedged CHF 15.30 -0.21 -1.35 31-Oct-2024 15.82 13.10 LU0827880260
Class A2 Hedged PLN 22.87 -0.30 -1.29 31-Oct-2024 23.55 19.01 LU0480534592
Class D2 Hedged AUD 23.62 -0.32 -1.34 31-Oct-2024 24.33 19.76 LU0827880187
Class C2 EUR 52.28 -0.76 -1.43 31-Oct-2024 53.58 44.93 LU0331284793
Class E2 EUR 64.82 -0.94 -1.43 31-Oct-2024 66.41 55.30 LU0171283533
Class E2 USD 70.41 -0.92 -1.29 31-Oct-2024 72.55 58.63 LU0147396450
Class D2 Hedged SGD 19.31 -0.26 -1.33 31-Oct-2024 19.92 16.19 LU0827880690
Class D4 EUR 69.63 -1.01 -1.43 31-Oct-2024 71.31 59.70 LU0827880005
Class D2 Hedged GBP 41.70 -0.55 -1.30 31-Oct-2024 42.92 34.49 LU0827880344
Class I2 USD 90.22 -1.18 -1.29 31-Oct-2024 92.84 74.04 LU0368249560
Class E2 Hedged EUR 41.33 -0.55 -1.31 31-Oct-2024 42.66 35.08 LU0212926132
Class X2 Hedged EUR 15.17 -0.20 -1.30 31-Oct-2024 15.63 12.60 LU0260352280
Class D2 Hedged PLN 25.05 -0.33 -1.30 31-Oct-2024 25.77 20.66 LU0827880427
Class A4 USD 74.99 -0.98 -1.29 31-Oct-2024 77.22 62.79 LU0724617625
Class D4 Hedged EUR 40.67 -0.54 -1.31 31-Oct-2024 41.95 34.70 LU0827880773
Class I2 Hedged SGD 19.34 -0.25 -1.28 31-Oct-2024 19.93 16.22 LU0810842038
Class I2 Hedged EUR 50.33 -0.67 -1.31 31-Oct-2024 51.88 42.09 LU0368231949
Class A2 Hedged CNH 175.26 -2.36 -1.33 31-Oct-2024 181.05 149.52 LU1062906877
Class A2 USD 78.82 -1.03 -1.29 31-Oct-2024 81.17 65.30 LU0072462426
Class A2 Hedged HKD 18.21 -0.24 -1.30 31-Oct-2024 18.77 15.26 LU0788109477

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 5 years
Example Investment CNH 78’000
Scenario
If you exit after 1 year
If you exit after 5 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
58’270 CNH
-25.3%
35’920 CNH
-14.4%

Unfavourable

What you might get back after costs
Average return each year
59’910 CNH
-23.2%
74’200 CNH
-1.0%

Moderate

What you might get back after costs
Average return each year
77’760 CNH
-0.3%
94’990 CNH
4.0%

Favourable

What you might get back after costs
Average return each year
102’840 CNH
31.9%
117’940 CNH
8.6%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature