Multi Asset

BGF China 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.

Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political, sustainability-related or regulatory events. Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Non-investment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets, failed/delayed delivery of securities or payments to the Fund and sustainability-related risks. 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. Equities and equity-related securities can be affected by daily stock market movements. Fixed Income securities can be affected by changes to interest rates, credit risk and potential or actual credit rating downgrades. Non-investment grade FI securities can be more sensitive to these events. ABS and MBS may have high levels of borrowing and not fully reflect the value of underlying assets. FDIs are highly sensitive to changes in the value of the asset they are based on. The impact is greater where FDIs are used in an extensive or complex way.

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

Chart

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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 (%)

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

  1y 3y 5y 10y Incept.
- - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
2.17 -1.77 2.28 2.17 - - - - -5.80
  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of 30-Jun-2024

- - - - -

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 USD, 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 16-Jul-2024
USD 19,222,170
Fund Launch Date
13-Jul-2023
Fund Base Currency
USD
Initial Charge
5.00%
ISIN
LU2555204317
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGCHA2U
Share Class launch date
13-Jul-2023
Share Class Currency
USD
Asset Class
Multi Asset
Ongoing Charges Figures
1.75%
Annual Management Fee
1.50%
Minimum Initial Investment
USD 5,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BPXXKF5

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 28-Jun-2024
5
3y Beta
as of -
-
P/B Ratio
as of 28-Jun-2024
0.00
Modified Duration
as of 28-Jun-2024
2.61
Weighted Avg Maturity
as of 28-Jun-2024
0.88
Standard Deviation (3y)
as of -
-
P/E Ratio
as of 28-Jun-2024
0.00
Yield to Maturity
as of 28-Jun-2024
2.71
Effective Duration
as of 28-Jun-2024
1.86

Sustainability Characteristics

Sustainability Characteristics

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. 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 28-Jun-2024
0.00%
MSCI - Nuclear Weapons
as of 28-Jun-2024
0.00%
MSCI - Civilian Firearms
as of 28-Jun-2024
0.00%
MSCI - Tobacco
as of 28-Jun-2024
0.00%
MSCI - UN Global Compact Violators
as of 28-Jun-2024
0.00%
MSCI - Thermal Coal
as of 28-Jun-2024
0.00%
MSCI - Oil Sands
as of 28-Jun-2024
0.00%

Business Involvement Coverage
as of 28-Jun-2024
76.55%
Percentage of Fund not covered
as of 28-Jun-2024
23.45%
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 0.05% and for Oil Sands 0.04%.

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 Fund manager includes ESG considerations in the research and underlying strategy due diligence phases of the investment process. This may include third party and internal considerations, as defined by the portfolio management team. Internal considerations may include exposures to climate and disaster events, as well as sovereign social and governance concerns. Where appropriate, the portfolio management team also analyzes ESG exposures and investment characteristics within underlying strategies. These criteria are part of a number of considerations that factor into investment decisions. The Fund manager may include ESG criteria in the ongoing monitoring of the overall portfolio, including underlying strategies as well as tactical positioning. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. Where appropriate, these reviews include discussion of the portfolio’s exposure to material ESG risks.

Risk Indicator

Risk Indicator

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3
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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 28-Jun-2024
Name Weight (%)
TENCENT HOLDINGS LTD 3.87
TREASURY BILL 07/25/2024 2.47
TREASURY FLOATING RATE NOTE 5.342203313 07/31/2024 2.20
CHINA DEVELOPMENT BANK 2.19 12/14/2024 1.75
ALIBABA GROUP HOLDING LTD 1.73
Name Weight (%)
TREASURY BILL 08/08/2024 1.72
CONTEMPORARY AMPEREX TECHNOLOGY LT 1.63
TREASURY BILL 07/05/2024 1.47
TRI-PARTY BNP PARIBAS 1.30
TRI-PARTY CITIGROUP GLOBAL MARKETS 1.19
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

Sorry, sectors are not available at this time.
as of 28-Jun-2024

% of Market Value

Type Fund
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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A2 USD 9.45 -0.07 -0.74 16-Jul-2024 10.19 8.68 LU2555204317
Class A10 USD 8.93 -0.07 -0.78 16-Jul-2024 10.19 8.39 LU2555204580

Portfolio Managers

Portfolio Managers

Daniel Caderas
Daniel Caderas
Tom Becker
Portfolio Manager, Global Tactical Asset Allocation Team

Tom Becker, PhD, Managing Director, is a portfolio manager on the Global Tactical Asset Allocation (GTAA) team within BlackRock's Multi-Asset Strategies & Solutions group. The GTAA team manages multi-asset macro investment strategies including the Tactical Opportunities Fund and custom mandates for institutional clients around the world.

Literature

Literature