Multi Asset

BGF Dynamic High Income 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. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. Derivatives are 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.

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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
View full table
  From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
Total Return (%)

as of Sep 30, 2021

- - 3.73 -3.19 16.08
  1Y 3Y 5Y 10y Incept.
19.56 7.33 - - 5.77
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
8.41 1.39 0.33 19.56 23.65 - - 21.53
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

Size of Class (Millions) as of Nov 30, 2021 NZD 19.47
Size of Fund (Millions) as of Nov 30, 2021 USD 3,744.167
Asset Class MultiAsset
Lipper Classification -
12m Trailing Yield as of Nov 30, 2021 5.26
Number of Holdings as of Oct 29, 2021 1678
CUSIP BRTH7JDH2
Fund Inception Date Feb 6, 2018
Share Class Inception Date May 9, 2018
Morningstar Category Other Allocation
SFDR Classification Other
Regulatory Structure UCITS
Net, Including Investment Related Expenses -
Net, Excluding Investment Related Expenses -
Management Company BlackRock (Luxembourg) S.A.
Gross Expense Ratio -
Ongoing Charge 1.75%
Distribution Frequency Monthly
ISIN LU1811365961
Bloomberg Ticker BGDA8NH
Annual Management Fee 1.50%
Max Offer Price -
Initial Charge 5.00%
Open to New Investors Yes
Performance Fee 0.00%
Turnover Percent -
SEDOL BD9C1W6
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment NZD 5000
Minimum Subsequent Investment NZD 1000
Use of Income Distributing

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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 Oct 29, 2021 0.04%
MSCI - UN Global Compact Violators as of Oct 29, 2021 0.77%
MSCI - Nuclear Weapons as of Oct 29, 2021 0.02%
MSCI - Thermal Coal as of Oct 29, 2021 0.00%
MSCI - Civilian Firearms as of Oct 29, 2021 0.04%
MSCI - Oil Sands as of Oct 29, 2021 0.00%
MSCI - Tobacco as of Oct 29, 2021 0.11%

Business Involvement Coverage as of Oct 29, 2021 64.02%
Percentage of Fund not covered as of Oct 29, 2021 35.71%
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 0.32% and for Oil Sands 0.81%.

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 includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, societal or governance topics, and from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular 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

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Oct 29, 2021
Name Weight (%)
ISHARES $ HIGH YIELD CRP BND ETF $ 5.16
ISHARES CORE S&P 500 UCITS ETF (DI 2.22
ISH ED MSCI USA VAL FCTR ETF 0.95
TAIWAN SEMICONDUCTOR MANUFACTURING 0.63
MSFT MERRILL LYNCH INTERNATIONAL & CO C 8.0612/16/2021 0.62
Name Weight (%)
MSFT MERRILL LYNCH INTERNATIONAL & CO C 7.5711/15/2021 0.51
AAPL JP MORGAN STRUCTURED PRODUCTS BV 12.5111/4/2021 0.50
ISHARES J.P. MORGAN $ EMER MKTS BD 0.42
RTY BARCLAYS BANK PLC 7.1211/4/2021 0.42
RTY BARCLAYS BANK PLC 8.3711/24/2021 0.42
Holdings subject to change

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
A8 Hgd NZD Monthly 9.60 -0.04 -0.41 9.99 9.20 - LU1811365961 - -
E2 EUR - 13.20 -0.15 -1.12 13.59 11.33 - LU1728558575 - -
D2 Hgd CHF Accumulating 11.53 -0.01 -0.09 11.83 10.51 - LU1800013010 - -
D2 USD Accumulating 12.71 0.00 0.00 13.00 11.44 - LU1564329206 - -
E2 Hgd EUR - 11.11 -0.01 -0.09 11.42 10.22 - LU1728558658 - -
Class AI2 Hedged EUR - 11.50 -0.01 -0.09 11.81 10.53 - LU1960219738 - -
Class I6 USD Monthly 10.12 -0.06 -0.59 10.50 9.64 - LU1873113655 - -
A6 Hgd GBP Monthly 8.95 -0.05 -0.56 9.31 8.64 - LU1733224965 - -
X2 USD - 13.18 0.00 0.00 13.46 11.75 - LU1564329891 - -
A8 Hgd AUD Monthly 9.22 -0.05 -0.54 9.60 8.88 - LU1564329545 - -
A6 Hgd CAD Monthly 9.44 -0.05 -0.53 9.83 9.11 - LU1811366001 - -
D2 EUR Accumulating 11.17 -0.12 -1.06 11.50 9.47 - LU1811365615 - -
Class AI5G Hedged EUR Quarterly 9.87 -0.01 -0.10 10.26 9.50 - LU1960219811 - -
D5 Hgd GBP Quarterly 10.28 0.00 0.00 10.65 9.76 - LU1940842427 - -
Class I2 BRL Hedged (USD) USD - 8.57 0.02 0.23 9.55 7.50 - LU2008661188 - -
D2 Hgd EUR Accumulating 11.80 0.00 0.00 12.09 10.72 - LU1811365888 - -
A6 Hgd HKD Monthly 93.68 -0.51 -0.54 97.45 90.21 - LU1697837992 - -
I2 EUR - 11.35 -0.12 -1.05 11.68 9.60 - LU1811365532 - -
A6 Hgd SGD Monthly 9.24 -0.05 -0.54 9.62 8.90 - LU1564329461 - -
D6 USD Monthly 9.83 -0.05 -0.51 10.20 9.38 - LU1564329388 - -
A6 Hgd EUR Monthly 8.72 -0.05 -0.57 9.09 8.47 - LU1706154686 - -
A8 Hgd CNH Monthly 96.49 -0.68 -0.70 100.13 92.06 - LU1733225004 - -
Class E5 Hedged EUR Quarterly 9.10 0.00 0.00 9.47 8.80 - LU1728558732 - -
A2 USD Accumulating 12.34 -0.01 -0.08 12.65 11.19 - LU1564329032 - -
A6 USD Monthly 9.54 -0.05 -0.52 9.92 9.17 - LU1564329115 - -
A2 Hgd CHF Accumulating 11.22 -0.01 -0.09 11.53 10.30 - LU1800012988 - -

Portfolio Managers

Portfolio Managers

Michael Fredericks
Head of Income Investing for BlackRock Multi-Asset Strategies Team
Justin Christofel, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies
Alex Shingler, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

Literature

Literature