Multi Asset

BlackRock Style Advantage Fund

  • NAV as of Sep 22, 2023 CHF 87.63
    52 WK: 76.22 - 87.63
  • 1 Day NAV Change as of Sep 22, 2023 0.03 (0.03%)

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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Reinvestments

This fund does not have any distributions data as of now.
Ex-Date Total Distribution

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -7.36 -4.61 -23.45 14.06 0.81
Comparator Benchmark 1 (%) 2.08 2.60 1.08 0.18 1.97

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

  1Y 3Y 5Y 10y Incept.
Total Return (%) 13.44 6.55 -1.38 - -2.51
Comparator Benchmark 1 (%) 4.79 1.90 2.01 - 1.98
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
Total Return (%) 11.65 3.43 4.31 7.48 13.44 20.95 -6.70 - -13.82
Comparator Benchmark 1 (%) 3.51 0.48 1.39 2.72 4.79 5.81 10.47 - 12.15
  From
30-Jun-2018
To
30-Jun-2019		 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
Total Return (%)

as of Jun 30, 2023

-2.24 -21.42 -2.24 8.02 10.31
Comparator Benchmark 1 (%)

as of Jun 30, 2023

2.60 2.11 0.25 0.40 4.21
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.

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 CHF 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 Sep 22, 2023 USD 143,380,817
Share Class Inception Date Oct 25, 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 0.78%
ISIN LU1706559660
Annual Management Fee 0.45%
Performance Fee 8.00%
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 BSSIPFC
SEDOL BYW9NY7

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 Aug 21, 2023 AA
MSCI ESG % Coverage as of Aug 21, 2023 67.65
MSCI ESG Quality Score (0-10) as of Aug 21, 2023 7.88
MSCI ESG Quality Score - Peer Percentile as of - -
Fund Lipper Global Classification as of Aug 21, 2023 Absolute Return USD Medium
Funds in Peer Group as of Aug 21, 2023 19
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Aug 21, 2023 7.12
MSCI Weighted Average Carbon Intensity % Coverage as of Aug 21, 2023 33.38
All data is from MSCI ESG Fund Ratings as of Aug 21, 2023, based on holdings as of Jan 31, 2023. 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.

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, 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 environmental aspects, human capital or management quality. As part of this research, the Fund manager may conduct due diligence on ESG data providers. Once these signals have met the criteria necessary to be incorporated in the portfolio, they are considered, where applicable, 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, 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.

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
Class IPF2 Hedged CHF Accumulating 87.63 0.03 0.03 Sep 22, 2023 87.63 76.22 LU1706559660
A2 Hgd EUR Accumulating 82.16 0.03 0.04 Sep 22, 2023 82.16 70.98 LU1352906025
Class I2 BRL Hedged (USD) USD Accumulating 85.44 0.30 0.35 Sep 22, 2023 86.23 62.48 LU1718790519
Class Z2 Hedged EUR Accumulating 97.06 0.04 0.04 Sep 22, 2023 97.06 83.44 LU1363273480
Class Z2 USD Accumulating 110.96 0.05 0.05 Sep 22, 2023 110.96 93.68 LU1363273308
X2 Hgd AUD Accumulating 116.58 0.05 0.04 Sep 22, 2023 116.58 98.93 LU1352906454
A2 USD Accumulating 104.12 0.04 0.04 Sep 22, 2023 104.12 88.32 LU1352905993
I2 Hgd GBP Accumulating 95.51 0.04 0.04 Sep 22, 2023 95.51 81.03 LU1532729727
X2 USD Accumulating 116.96 0.05 0.04 Sep 22, 2023 116.96 98.19 LU1352906371
Class IPF2 Hedged EUR Accumulating 97.75 0.04 0.04 Sep 22, 2023 97.75 83.87 LU1469409517
X2 Hgd GBP Accumulating 113.98 0.05 0.04 Sep 22, 2023 113.98 96.28 LU1423753034
D2 USD Accumulating 109.90 0.04 0.04 Sep 22, 2023 109.90 92.81 LU1373035408
D2 EUR Accumulating 114.18 -0.20 -0.17 Sep 22, 2023 114.38 95.35 LU1373035317
E2 Hgd EUR Accumulating 88.46 0.03 0.03 Sep 22, 2023 88.46 76.74 LU1373035234
D2 Hgd EUR Accumulating 95.90 0.04 0.04 Sep 22, 2023 95.90 82.48 LU1352906298
A4 Hgd EUR Annual 92.87 0.04 0.04 Sep 22, 2023 92.87 80.21 LU1394254640
X2 Hgd EUR - 93.14 0.04 0.04 Sep 22, 2023 93.14 79.61 LU1781817777
A2 Hgd SEK Accumulating 85.50 0.03 0.04 Sep 22, 2023 85.50 73.73 LU1609299281
I2 Hgd EUR Accumulating 97.32 0.04 0.04 Sep 22, 2023 97.32 83.57 LU1352906538
I2 USD Accumulating 97.78 0.04 0.04 Sep 22, 2023 97.78 82.46 LU1640626609
D2 Hgd GBP Accumulating 95.06 0.04 0.04 Sep 22, 2023 95.06 80.80 LU1572169370
D2 Hgd CHF Accumulating 84.14 0.03 0.04 Sep 22, 2023 84.14 73.36 LU1640627169
I2 Hgd CHF Accumulating 85.30 0.02 0.02 Sep 22, 2023 85.30 74.25 LU1640627243
X2 Hgd NZD Accumulating 121.19 0.06 0.05 Sep 22, 2023 121.19 101.72 LU1485749367
A4 USD Annual 105.78 0.04 0.04 Sep 22, 2023 105.78 89.74 LU1394251976
I2 Hgd JPY Accumulating 9,667.42 2.67 0.03 Sep 22, 2023 9,667.42 8,489.27 LU1484781551
E2 EUR Accumulating 104.89 -0.14 -0.13 Sep 22, 2023 105.03 88.26 LU1373035150

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