Equity

BSF Global Event Driven 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 value of your investment and the income from it will vary and your initial investment amount is not guaranteed. Overseas investments will be affected by movements in currency exchange rates.

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

Growth of Hypothetical 10,000

Performance chart data not available for display.
View full chart

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 3.54 2.40 4.40 6.79 1.53 -4.66
Comparator Benchmark 1 (%) 0.86 1.87 2.28 0.67 0.05 1.46
  1Y 3Y 5Y 10y Incept.
-4.66 1.11 2.02 - 2.43
Comparator Benchmark 1 (%)

as of Dec 31, 2022

1.46 0.72 1.26 - 1.08
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-4.66 -0.34 -0.08 0.27 -4.66 3.38 10.52 - 18.12
Comparator Benchmark 1 (%)

as of Dec 31, 2022

1.46 0.36 0.84 1.31 1.46 2.18 6.47 - 7.74
  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 Dec 31, 2022

2.40 4.40 6.79 1.53 -4.66
Comparator Benchmark 1 (%)

as of Dec 31, 2022

1.87 2.28 0.67 0.05 1.46
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Net Assets of Fund as of Feb 2, 2023 USD 4,227,095,887
Share Class Inception Date Jan 20, 2016
Fund Inception Date Aug 4, 2015
Share Class Currency CHF
Base Currency USD
Asset Class Equity
Comparator Benchmark 1 ICE BofA 3-MO US Treasury Bill (G0O1)
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charge 0.86%
Annual Management Fee 0.50%
Performance Fee 20.00%
Minimum Initial Investment CHF 10000000
Minimum Subsequent Investment CHF 10000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Event Driven
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSGEZ2C
ISIN LU1341466644
SEDOL BYZRHQ8

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 30, 2022 269
Standard Deviation (3y) as of Dec 31, 2022 6.09%
P/E Ratio as of Dec 30, 2022 23.28
P/B Ratio as of Dec 30, 2022 2.25

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 Dec 30, 2022 0.01%
MSCI - UN Global Compact Violators as of Dec 30, 2022 1.12%
MSCI - Nuclear Weapons as of Dec 30, 2022 0.01%
MSCI - Thermal Coal as of Dec 30, 2022 0.00%
MSCI - Civilian Firearms as of Dec 30, 2022 0.13%
MSCI - Oil Sands as of Dec 30, 2022 0.00%
MSCI - Tobacco as of Dec 30, 2022 0.01%

Business Involvement Coverage as of Dec 30, 2022 51.29%
Percentage of Fund not covered as of Dec 30, 2022 9.78%
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 0.67% 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 evaluates the fundamental and strategic aspects of each security in which the Fund may invest. This may include a detailed, comprehensive review and analysis of all aspects of the company, including ESG policies, when evaluating opportunities. The Fund manager's deep due diligence informs a holistic perspective on a given issuer and may impact the investment decision. Additionally, on a regular basis the Fund manager conducts portfolio risk reviews with the Risk and Quantitative Analysis group. 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.

Ratings

Ratings

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Mar 17, 2022)

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Dec 30, 2022
Name Weight (%)
FIRST HORIZON CORP (TENNESSEE) 4.10
HOWMET AEROSPACE INC 3.98
HORIZON THERAPEUTICS PLC 3.65
ACTIVISION BLIZZARD INC 3.11
COTY INC 2.73
Name Weight (%)
VMWARE INC 2.67
HOMESERVE PLC 2.41
DOUBLEVERIFY HOLDINGS INC 2.06
AVEVA GROUP PLC 1.94
TOWER SEMICONDUCTOR LTD. 1.89
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% of Market Value

Type Fund
as of Dec 30, 2022

% of Market Value

Type Fund
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 Z2 Hedged CHF Accumulating 121.84 0.69 0.57 Feb 2, 2023 124.51 115.43 LU1341466644 -
Class IA2 USD - 120.88 0.73 0.61 Feb 2, 2023 120.88 111.64 LU1921562119 -
I2 Hgd JPY - 11,371.17 62.08 0.55 Feb 2, 2023 11,609.99 10,796.02 LU1781817421 -
A2 Hgd CHF Accumulating 111.37 0.62 0.56 Feb 2, 2023 114.79 106.19 LU1400751324 -
I2 Hgd EUR Accumulating 118.73 0.67 0.57 Feb 2, 2023 120.89 112.21 LU1382784764 -
I5 USD Quarterly 126.82 0.76 0.60 Feb 2, 2023 126.82 117.50 LU1603214153 -
D2 Hgd GBP Accumulating 122.57 0.72 0.59 Feb 2, 2023 123.53 114.83 LU1373034930 -
Class Z2 Hedged EUR Accumulating 124.94 0.71 0.57 Feb 2, 2023 126.97 117.91 LU1288049940 -
I2 Hgd CHF Accumulating 111.01 0.62 0.56 Feb 2, 2023 113.70 105.37 LU1603214401 -
Class Z2 USD Accumulating 142.36 0.85 0.60 Feb 2, 2023 142.36 131.73 LU1258025839 -
Class Z2 Hedged GBP Accumulating 132.68 0.79 0.60 Feb 2, 2023 133.13 123.89 LU1288049866 -
E2 Hgd EUR Accumulating 111.37 0.62 0.56 Feb 2, 2023 114.62 106.11 LU1278928574 -
A2 USD Accumulating 131.16 0.79 0.61 Feb 2, 2023 131.16 122.13 LU1251620883 -
D2 USD Accumulating 135.22 0.81 0.60 Feb 2, 2023 135.22 125.51 LU1251621188 -
X2 USD Accumulating 158.31 0.95 0.60 Feb 2, 2023 158.31 145.76 LU1264793958 -
I4 Hgd EUR - 113.86 0.64 0.57 Feb 2, 2023 115.88 107.59 LU1817852764 -
A4 Hgd EUR Annual 107.48 0.61 0.57 Feb 2, 2023 110.15 102.09 LU1697783881 -
Class I2 BRL Hedged (USD) USD - 103.63 2.50 2.47 Feb 2, 2023 103.63 85.14 LU2008661006 -
I2 USD Accumulating 125.55 0.76 0.61 Feb 2, 2023 125.55 116.33 LU1251621345 -
A2 Hgd EUR Accumulating 111.98 0.63 0.57 Feb 2, 2023 114.76 106.36 LU1376384878 -
D2 Hgd EUR Accumulating 116.23 0.66 0.57 Feb 2, 2023 118.62 110.04 LU1373035077 -
D2 Hgd CHF Accumulating 114.64 0.64 0.56 Feb 2, 2023 117.66 108.96 LU1387771113 -
E2 EUR Accumulating 133.85 0.74 0.56 Feb 2, 2023 146.37 126.27 LU1278928657 -
Class I5 Hedged GBP Quarterly 118.76 0.69 0.58 Feb 2, 2023 119.41 111.07 LU1603215044 -

Portfolio Managers

Portfolio Managers

Mark McKenna
Managing Director, Founder and Global Head of Event Driven

Mark R. McKenna, Managing Director, is Founder and Global Head of Event Driven. Mr. McKenna is responsible for managing BlackRock's event-driven investing efforts.

Literature

Literature