Multi Asset

Tactical Opportunities 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. 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. Noninvestment 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. Due to its investment strategy an 'Absolute Return' fund may not move in line with market trends or fully benefit from a positive market environment.
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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.
  From
30-Jun-2016
To
30-Jun-2017
From
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
Total Return (%)

as of Jun 30, 2021

- - - - 4.50
Benchmark (%)

as of Jun 30, 2021

- - - - 0.09
  1Y 3Y 5Y 10y Incept.
4.08 - - - 4.88
Benchmark (%)

as of Aug 31, 2021

0.08 - - - 0.76
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
0.34 0.83 -1.17 4.08 - - - 10.50
Benchmark (%)

as of Aug 31, 2021

0.03 0.00 0.01 0.08 - - - 1.59
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 Sep 17, 2021 USD 24.29
Size of Fund (Millions) as of Sep 17, 2021 USD 284.552
Fund Inception Date Jul 25, 2019
Share Class Inception Date Jul 25, 2019
Asset Class MultiAsset
Lipper Classification -
12m Trailing Yield -
Number of Holdings as of Aug 31, 2021 864
CUSIP BRTV38XB0
Base Currency U.S. Dollar
Asset Class Multi Asset
Morningstar Category -
Benchmark Index ICE BofA 3 Month Treasury Bill Index (G0O1)
SFDR Classification Article 8
Domicile Ireland
Regulatory Structure UCITS
Net, Including Investment Related Expenses -
Net, Excluding Investment Related Expenses -
Management Company BlackRock Asset Management Ireland Limited
Gross Expense Ratio -
Ongoing Charge 0.00%
ISIN IE00BK4Q0145
Bloomberg Ticker -
Annual Management Fee -
Max Offer Price -
Initial Charge -
Open to New Investors Yes
Performance Fee -
Turnover Percent -
SEDOL BK4Q014
Bloomberg Benchmark Ticker -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 1000000
Minimum Subsequent Investment USD 10000
Use of Income Accumulating

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Sep 7, 2021 A
MSCI ESG Quality Score (0-10) as of Sep 7, 2021 6.41
MSCI ESG Quality Score - Peer Percentile as of Sep 7, 2021 45.65
MSCI ESG % Coverage as of Sep 7, 2021 98.56
Fund Lipper Global Classification as of Sep 7, 2021 Absolute Return EUR Medium
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 7, 2021 133.74
Funds in Peer Group as of Sep 7, 2021 92
All data is from MSCI ESG Fund Ratings as of Sep 7, 2021, based on holdings as of Mar 31, 2021. 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% 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.

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 Aug 31, 2021 0.00%
MSCI - UN Global Compact Violators as of Aug 31, 2021 0.00%
MSCI - Nuclear Weapons as of Aug 31, 2021 0.00%
MSCI - Thermal Coal as of Aug 31, 2021 0.00%
MSCI - Civilian Firearms as of Aug 31, 2021 0.00%
MSCI - Oil Sands as of Aug 31, 2021 0.00%
MSCI - Tobacco as of Aug 31, 2021 0.00%

Business Involvement Coverage as of Aug 31, 2021 60.00%
Percentage of Fund not covered as of Aug 31, 2021 25.56%
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 1.06%.

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 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 include exposures to climate and disaster events, as well as sovereign social and governance concerns. 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 includes 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. These reviews include discussion of the portfolio’s exposure to material ESG risks.

Ratings

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Aug 31, 2021
Name Weight (%)
TREASURY NOTE 0.125 12/15/2023 11.76
TREASURY NOTE 1.5 09/15/2022 9.85
TRSWAP: KMU1 FUTURE 09-SEP-2021 4.52
TRSWAP: FTU1 FUTURE 15-SEP-2021 3.02
MICROSOFT CORP 2.58
Name Weight (%)
APPLE INC 2.56
AMAZON COM INC 2.00
TRSWAP: NDEUMXF INDEX 1.35
FACEBOOK CLASS A INC 1.09
ALPHABET INC CLASS A 1.06
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Aug 31, 2021

% of Market Value

Type Fund
as of Aug 31, 2021

% of Market Value

Type Fund
as of Aug 31, 2021

% 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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
X USD - 112.90 0.37 0.33 112.90 105.28 112.90 IE00BK4Q0145 112.90 -
A USD - 109.30 0.35 0.32 109.30 103.41 109.30 IE00BK4PZR29 109.30 -
D USD - 111.02 0.36 0.32 111.02 104.33 111.02 IE00BK4PZV64 111.02 -
Class X Hedged GBP - 111.04 0.36 0.32 111.04 103.82 111.04 IE00BK4Q0038 111.04 -
Class D Hedged EUR - 107.85 0.35 0.32 107.85 102.24 107.85 IE00BK4PZW71 107.85 -
Class D Hedged GBP - 109.14 0.35 0.33 109.14 102.86 109.14 IE00BK4PZT43 109.14 -
Class X Hedged EUR - 109.64 0.35 0.32 109.64 103.18 109.64 IE00BK4PZZ03 109.64 -
Class D Hedged CHF - 107.28 0.35 0.33 107.28 101.87 107.28 IE00BK4PZX88 107.28 -
Class X Hedged AUD - 110.94 0.36 0.33 110.94 103.87 110.94 IE00BK4PZY95 110.94 -
Class A Hedged SGD - 109.06 0.35 0.33 109.06 103.19 109.06 IE00BK4PZS36 109.06 -

Portfolio Managers

Portfolio Managers

Philip Green
Managing Director, Head of Global Tactical Asset Allocation

Philip Green

Thomas Becker, PhD
Portfolio Manager, Global Tactical Asset Allocation Team

Thomas Becker, PhD, Managing Director, is a member of GTAA within BlackRock's Multi-Asset Strategies group.

Michael Pensky, CFA
Portfolio Manager, Global Tactical Asset Allocation (GTAA)

Michael Pensky, CFA

Jeremy Ehrlich
Jeremy Ehrlich
Sam Young
Sam Young

Literature

Literature