Multi Asset

BlackRock Style Advantage Fund

  • NAV as of Jan 30, 2023 CHF 75.73
    52 WK: 69.51 - 79.30
  • 1 Day NAV Change as of Jan 30, 2023 0.28 (0.37%)

Overview

Investment Approach

The Fund aims to achieve a positive absolute return through a combination of capital growth and income on your investment regardless of market conditions. The Fund will provide exposure to several investment styles including, (i) Value: focuses on investments that appear relatively cheap with the aim of outperformance relative to expensive assets; (ii) Momentum: focuses on investments with relatively strong medium term performance with the aim of benefitting from an asset’s recent relative performance continuing in the short term; (iii) Carry: focuses on higher-yielding investments with the aim of benefitting from the higher returns of these assets relative to lower-yielding assets; and (iv) Defensive: focuses on investments with low-risk characteristics with the aim of benefitting from the tendency for lower risk, higher quality assets to generate higher risk-adjusted returns than higher risk, lower quality assets. The Fund will invest on a global basis in any or all of the following asset classes: equity securities (e.g. shares), other equity-related securities, fixed income securities (e.g. bonds), other fixed-income related securities, permitted money market instruments (e.g. debt instruments with short-term maturities), mortgage backed securities (MBS) (i.e. financial securities backed by cash flows from debt), permitted deposits, cash and other funds
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.

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

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Share Class and Benchmark performance displayed in CHF. Source: BlackRock. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested. Past performance is not a guide to future performance.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -7.58 -4.92 -23.63 14.00 0.70
Comparator Benchmark 1 (%) 2.08 2.60 1.08 0.18 1.97
  1Y 3Y 5Y 10y Incept.
Total Return (%)

as of Dec 31, 2022

0.70 -4.29 -5.09 - -
Comparator Benchmark 1 (%)

as of Dec 31, 2022

1.97 1.07 1.58 - -
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
Total Return (%)

as of Dec 31, 2022

0.70 -0.54 -3.22 0.35 0.70 -12.34 -22.97 - -
Comparator Benchmark 1 (%)

as of Dec 31, 2022

1.97 0.38 1.00 1.63 1.97 3.25 8.14 - -
  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

-7.58 -4.92 -23.63 14.00 0.70
Comparator Benchmark 1 (%)

as of Dec 31, 2022

2.08 2.60 1.08 0.18 1.97
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 Jan 30, 2023 USD 124,991,962
Share Class Inception Date Jul 19, 2017
Fund Inception Date Feb 29, 2016
Share Class Currency CHF
Base Currency USD
Asset Class Multi Asset
Comparator Benchmark 1 3 Month SOFR Compounded in Arrears plus 26.1 basis point spread
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charge 0.80%
Annual Management Fee 0.55%
Performance Fee 0.00%
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 Multistrategy Other
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSSAI2C
ISIN LU1640627243
SEDOL BYVSVS5

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.

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 includes ESG considerations in the research, selection, monitoring and reporting phases of the investment process. This may include third-party and internal material considerations, as defined by the investment team, of ESG criteria. The Fund manager undergoes a rigorous research phase in the construction of internal ESG research signals, which highlight criteria such as human capital or management quality. As part of this research, the Fund manager conducts due diligence on ESG data providers. Once these signals have met the criteria necessary to be incorporated in the portfolio, they are considered as part of the investment decisions on an ongoing basis as part of a broader set of signals. The Fund manager additionally uses standardized ESG criteria (headline ESG ratings, carbon emissions intensity) during the reporting phase. These may be sourced internally or directly from third-party data providers and are featured in internal portfolio analytics. The Fund manager conducts regular portfolio risk reviews with 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

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Pricing & Exchange

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
I2 Hgd CHF Accumulating 75.73 0.28 0.37 Jan 30, 2023 79.30 69.51 LU1640627243 -
X2 Hgd AUD Accumulating 100.73 -0.13 -0.13 Jan 27, 2023 104.81 91.67 LU1352906454 -
A2 USD Accumulating 90.59 0.33 0.37 Jan 30, 2023 94.01 82.20 LU1352905993 -
Class Z2 Hedged EUR Accumulating 85.21 0.31 0.37 Jan 30, 2023 88.83 77.92 LU1363273480 -
I2 Hgd GBP Accumulating 83.00 0.30 0.36 Jan 30, 2023 86.05 74.74 LU1532729727 -
E2 Hgd EUR Accumulating 78.22 0.27 0.35 Jan 30, 2023 81.82 72.23 LU1373035234 -
X2 USD Accumulating 100.92 0.39 0.39 Jan 30, 2023 104.32 90.60 LU1352906371 -
X2 Hgd EUR - 81.38 0.30 0.37 Jan 30, 2023 84.68 74.01 LU1781817777 -
E2 EUR Accumulating 89.61 0.10 0.11 Jan 30, 2023 104.64 80.56 LU1373035150 -
D2 USD Accumulating 95.28 0.36 0.38 Jan 30, 2023 98.71 86.05 LU1373035408 -
A4 USD Annual 92.05 0.34 0.37 Jan 30, 2023 95.52 83.52 LU1394251976 -
Class I2 BRL Hedged (USD) USD Accumulating 68.47 0.15 0.22 Jan 30, 2023 69.44 57.76 LU1718790519 -
D2 EUR Accumulating 96.87 0.12 0.12 Jan 30, 2023 112.70 86.28 LU1373035317 -
Class IPF2 Hedged EUR Accumulating 85.67 0.31 0.36 Jan 30, 2023 89.26 78.21 LU1469409517 -
D2 Hgd EUR Accumulating 84.21 0.31 0.37 Jan 30, 2023 87.81 77.08 LU1352906298 -
A4 Hgd EUR Annual 81.83 0.29 0.36 Jan 30, 2023 85.47 75.24 LU1394254640 -
A2 Hgd EUR Accumulating 72.41 0.25 0.35 Jan 30, 2023 75.63 66.56 LU1352906025 -
Class Z2 USD Accumulating 96.19 0.36 0.38 Jan 30, 2023 99.63 86.81 LU1363273308 -
I2 Hgd EUR Accumulating 85.35 0.31 0.36 Jan 30, 2023 88.96 78.00 LU1352906538 -
Class IPF2 Hedged CHF Accumulating 77.75 0.29 0.37 Jan 30, 2023 81.39 71.29 LU1706559660 -
X2 Hgd GBP Accumulating 98.71 0.37 0.38 Jan 30, 2023 102.17 88.39 LU1423753034 -
A2 Hgd SEK Accumulating 75.23 0.27 0.36 Jan 30, 2023 78.49 68.71 LU1609299281 -
I2 Hgd JPY Accumulating 8,653.10 31.16 0.36 Jan 30, 2023 9,075.52 7,950.94 LU1484781551 -
X2 Hgd NZD Accumulating 104.15 0.42 0.40 Jan 30, 2023 108.17 92.59 LU1485749367 -
D2 Hgd CHF Accumulating 74.79 0.27 0.36 Jan 30, 2023 78.38 68.78 LU1640627169 -
I2 USD Accumulating 84.67 0.31 0.37 Jan 30, 2023 87.67 76.36 LU1640626609 -

Portfolio Managers

Portfolio Managers

Philip Hodges, PhD
Philip Hodges, PhD
Managing Director, Chief Investment Officer for BlackRock's Factors, Sustainable and Solutions Group

Philip Hodges

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Philip Hodges, PhD, Managing Director, is Chief Investment Officer and Head of Investments for BlackRock's Factors, Sustainable and Solutions Group. Dr. Hodges is responsible for delivering investment performance for BlackRock's factor investment platform. The group optimizes factors to help meet investment outcomes, such as retirement savings, factor advisory mandates and bespoke factor solutions, and develops factor analytics tools leveraging BlackRock's Aladdin platform. Dr. Hodges is CIO for the team's flagship factor strategies: Market Advantage and Style Advantage.

 

Dr. Hodges' service with the firm dates back to 2007, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Previously, Dr. Hodges has served as a research officer within the Client Solutions group in San Francisco and a quantitative analyst within the Liability Driven Investment team in London. Prior to joining BGI, Dr. Hodges was a post-doctoral research associate in physical chemistry at the University of Oxford and University Lyon I.

 

Dr. Hodges earned a MChem degree in chemistry and a D.Phil. in molecular spectroscopy from the University of Oxford in 2002 and 2006, respectively.

He Ren
He Ren
Vice President, Factor-Based Strategies Group

He Ren is a senior researcher at BlackRock's Factor-Based Strategies Group which optimizes factors to help meet investment outcomes, such as retirement savings, factor advisory mandates and bespoke factor solutions.

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He Ren is a senior researcher at BlackRock's Factor-Based Strategies Group which optimizes factors to help meet investment outcomes, such as retirement savings, factor advisory mandates and bespoke factor solutions. As a member of the research team, Mr. Ren is responsible for managing factor-based risk premia strategies and risk parity strategies. His research focus includes macro and style factor investment strategies, factor timing and factor-based asset allocation.

 

Mr. Ren earned degrees in computer science and economics from Peking University in 2013 and a Master of Financial Engineering from the University of California, Berkeley in 2015.

Literature

Literature