Multi Asset

BGF Climate Action Multi-Asset 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.

Credit risk, changes to interest rates and/or issuer defaults will have a significant impact on the performance of fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. The value of equities and equity-related securities can be affected by daily stock market movements, political factors, economic news, company earnings and significant corporate events. Derivatives may be highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way. The Fund seeks to exclude companies engaging in certain activities inconsistent with ESG criteria. Investors should therefore make a personal ethical assessment of the Fund’s ESG screening prior to investing in the Fund. Such ESG screening may adversely affect the value of the Fund’s investments compared to a fund without such screening.

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.

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Performance

Performance

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This chart shows the fund's performance as the percentage loss or gain per year over the last 1 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2018 2019 2020 2021 2022
Total Return (%) -12.7
  1y 3y 5y 10y Incept.
-12.69 - - - -11.95
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-12.69 -4.06 -1.13 -0.79 -12.69 - - - -12.60
  From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
Total Return (%)

as of 31-Dec-2022

- - - - -12.69

The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in EUR, hedged fund benchmark performance is displayed in EUR.

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 30-Jan-2023 EUR 45,802,204
Share Class launch date 09-Dec-2021
Fund Launch Date 09-Dec-2021
Share Class Currency EUR
Fund Base Currency EUR
Asset Class Multi Asset
Initial Charge 5.00%
Ongoing Charges Figures 1.62%
Annual Management Fee 1.20%
Performance Fee 0.00%
Minimum Initial Investment EUR 25,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGAMAAE
ISIN LU2377032946
SEDOL BMW6ZD7

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30-Dec-2022 502
Standard Deviation (3y) as of - -
P/E Ratio as of 30-Dec-2022 14.70
P/B Ratio as of 30-Dec-2022 1.96
Yield to Maturity as of 30-Dec-2022 1.11
Modified Duration as of 30-Dec-2022 1.18
Effective Duration as of 30-Dec-2022 1.18
Weighted Avg Maturity as of 30-Dec-2022 1.30

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

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-Dec-2022 0.00%
MSCI - UN Global Compact Violators as of 30-Dec-2022 0.00%
MSCI - Nuclear Weapons as of 30-Dec-2022 0.00%
MSCI - Thermal Coal as of 30-Dec-2022 0.00%
MSCI - Civilian Firearms as of 30-Dec-2022 0.00%
MSCI - Oil Sands as of 30-Dec-2022 0.00%
MSCI - Tobacco as of 30-Dec-2022 0.00%

Business Involvement Coverage as of 30-Dec-2022 85.69%
Percentage of Fund not covered as of 30-Dec-2022 14.31%
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 0.00% and for Oil Sands 0.00%.

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 material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager incorporates ESG considerations throughout the investment process’ macro outlook, idea generation, implementation tools, portfolio construction, risk management, ongoing monitoring and reporting. All research ideas generated for the Fund consider the potential impact from ESG-associated risks, and these are documented as part of the investment process. Idea implementation uses a wide range of building blocks, including active mutual funds, index funds, ETFs, direct securities, derivatives, and third-party funds. The Fund manager reviews research ideas and asset allocation on a regular basis and reassesses each of the building blocks utilized to access research ideas. The choice of building block is informed by ESG considerations. For strategies with an explicit ESG objective, certain building blocks are used to comply with those guidelines. Where an ESG focused building block becomes available, it will be considered as a replacement for standard market exposure. Both the extent and impact of screens and integration are considered in the context of the investment objective / investment style of particular strategies. The Fund manager may also build bespoke thematic baskets of securities, which are subject to BlackRock baseline screens in the first instance and where appropriate, additional screening criteria. The Fund manager uses E, S, and G criteria such as headline ESG and carbon footprint during the reporting phase. These are sourced from Aladdin or directly from third-party data providers. The Fund manager conducts regular portfolio monitoring with BlackRock’s Risk and Quantitative Analysis group, as well as portfolio reviews with Chief Investment Officers. These reviews include discussion 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

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Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 30-Dec-2022
Name Weight (%)
EMINI S&P500 ESG INDEX MAR 23 10.27
EUR CASH(Alpha Committed) 7.27
Notional Cash Offset (VGH3 FUTURE) 5.51
US 10YR NOTE MAR 23 03/22/2023 4.94
ISHRS GREEN BD IDX (IE) D EUR HDG 4.48
Name Weight (%)
GREENCOAT RENEWABLES PLC 3.20
AQUILA EUROPEAN RENEWABLES PLC 3.16
SDCL ENERGY EFFICIENCY INCOME TRUS 2.97
GREENCOAT UK WIND PLC 2.90
Notional Cash Offset (IKH3 FUTURE) 2.19
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

Sorry, sectors are not available at this time.
as of 30-Dec-2022

% of Market Value

Type Fund Benchmark Net
as of 30-Dec-2022

% of Market Value

Type Fund Benchmark Net
as of 30-Dec-2022

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
Sorry, maturities are not available at this time.
Sorry, ratings are not available at this time.
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.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class AI2 EUR - 9.00 -0.03 -0.33 30-Jan-2023 9.86 8.62 LU2377032946 -
Class D2 EUR - 9.06 -0.03 -0.33 30-Jan-2023 9.88 8.66 LU2377033167 -
Class A8 Hedged USD Monthly 9.01 -0.03 -0.33 30-Jan-2023 9.83 8.62 LU2377033670 -
Class A2 EUR - 8.99 -0.03 -0.33 30-Jan-2023 9.86 8.61 LU2377032862 -

Portfolio Managers

Portfolio Managers

Rupert Harrison, PhD
Portfolio Manager and Head of Research, Diversified Strategies Team, Multi-Asset Strategies & Solutions

Portfolio Manager and Head of Research, Diversified Strategies Team, Multi-Asset Strategies & Solutions

Conan McKenzie
CFA, Director and portfolio manager

Member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group.

Lamiaa Chaabi
Vice President and portfolio manager

Member of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group.

Yasmin Meissner
Director

Yasmin Meissner is the co-Head of Sustainable Investing for Multi-Asset Strategies and Client Portfolio Solutions along with Katharina Schwaiger.

Literature

Literature