Multi Asset

BSF Dynamic Diversified Growth 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 fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment.

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.

  2019 2020 2021 2022 2023
Total Return (%) 9.45 5.14 -8.56 8.22
Comparator Benchmark 1 (%) -0.44 -0.47 -0.01 3.31

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

  1Y 3Y 5Y 10y Incept.
7.27 1.48 - - 3.70
Comparator Benchmark 1 (%) 3.63 1.17 - - 0.70
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
0.64 1.36 4.30 6.01 7.27 4.51 - - 16.64
Comparator Benchmark 1 (%) 0.65 0.32 0.99 1.98 3.63 3.57 - - 3.00
  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
From
31-Dec-2022
To
31-Dec-2023
Total Return (%)

as of Dec 31, 2023

- 9.45 5.14 -8.56 8.22
Comparator Benchmark 1 (%)

as of Dec 31, 2023

- -0.44 -0.47 -0.01 3.31
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 USD, hedged share class benchmark performance is displayed in EUR.

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 Mar 27, 2024 EUR 519,630,866
Share Class Inception Date Dec 4, 2019
Fund Inception Date Jan 28, 2011
Share Class Currency USD
Base Currency EUR
Asset Class Multi Asset
Comparator Benchmark 1 Overnight ESTR
SFDR Classification Article 8
Initial Charge 0.00%
Ongoing Charge 0.81%
ISIN LU2079411406
Annual Management Fee 0.55%
Performance Fee 0.00%
Minimum Initial Investment USD 1000000
Minimum Subsequent Investment USD 10000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category USD Flexible Allocation
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BSDI2HU
SEDOL BKP52K3

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Feb 29, 2024 215
Standard Deviation (3y) as of Feb 29, 2024 7.06%
3y Beta as of Feb 29, 2024 2.640
P/E Ratio as of Feb 29, 2024 19.54
P/B Ratio as of Feb 29, 2024 1.72
Yield to Maturity as of Feb 29, 2024 1.99%
Modified Duration as of Feb 29, 2024 0.89 yrs
Effective Duration as of Feb 29, 2024 0.79 yrs
Weighted Avg Maturity as of Feb 29, 2024 0.72 yrs

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 Mar 21, 2024 AA
MSCI ESG % Coverage as of Mar 21, 2024 75.37
MSCI ESG Quality Score (0-10) as of Mar 21, 2024 7.44
MSCI ESG Quality Score - Peer Percentile as of Mar 21, 2024 89.05
Fund Lipper Global Classification as of Mar 21, 2024 Mixed Asset EUR Flex - Global
Funds in Peer Group as of Mar 21, 2024 1,525
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Mar 21, 2024 71.52
MSCI Weighted Average Carbon Intensity % Coverage as of Mar 21, 2024 57.87
All data is from MSCI ESG Fund Ratings as of Mar 21, 2024, based on holdings as of Oct 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.

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 Feb 29, 2024 0.00%
MSCI - UN Global Compact Violators as of Feb 29, 2024 0.00%
MSCI - Nuclear Weapons as of Feb 29, 2024 0.00%
MSCI - Thermal Coal as of Feb 29, 2024 0.00%
MSCI - Civilian Firearms as of Feb 29, 2024 0.00%
MSCI - Oil Sands as of Feb 29, 2024 0.00%
MSCI - Tobacco as of Feb 29, 2024 0.00%

Business Involvement Coverage as of Feb 29, 2024 80.28%
Percentage of Fund not covered as of Feb 29, 2024 19.76%
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 0.00% and for Oil Sands 0.33%.

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 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 incorporates ESG considerations throughout the investment process' macro outlook, idea generation, implementation tools, portfolio construction, risk management, ongoing monitoring and reporting. All research ideas generated for the Fund consider the potential impact from ESG-associated risks when appropriate, and these are documented as part of the investment process. Idea implementation uses a wide range of building blocks, including active mutual funds, index funds, ETFs, direct securities, derivatives, and third-party funds. The Fund manager reviews research ideas and asset allocation on a regular basis and reassesses the building blocks utilized to access research ideas. The choice of building block may be informed by ESG considerations. For strategies with an explicit ESG objective, certain building blocks are used to comply with those guidelines. Where an ESG focused building block becomes available, it may be considered as a replacement for standard market exposure when appropriate. Both the extent and impact of screens and integration may be considered in the context of the investment objective / investment style of particular strategies. The Fund manager may also build bespoke thematic baskets of securities, which are subject to BlackRock baseline screens in the first instance and where appropriate, additional screening criteria. The Fund manager may use E, S, and G criteria such as headline ESG and carbon footprint during the reporting phase. These are sourced from Aladdin or directly from third-party data providers, where available. The Fund manager conducts regular risk reviews between the investment team and BlackRock's Risk and Quantitative Analysis group as well as portfolio reviews with Chief Investment Officers. Where appropriate, 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 Rating

4 stars
Overall Morningstar Rating for BSF Dynamic Diversified Growth Fund, Class I2 Hedged, as of Jan 31, 2023 rated against 558 USD Flexible Allocation Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Feb 29, 2024)

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Feb 29, 2024
Name Weight (%)
ISHARES EURO HY CORP BND ESG UCITS 8.82
TRSWAP: ELTINTR4 INDEX 4.20
ISHARES PHYSICAL GOLD ETC 3.80
ISHARES MSCI WORLD SRI UCITS EUR_A 3.61
BLUEFIELD SOLAR INCOME FUND LTD 3.23
Name Weight (%)
ISHRS GREEN BD IDX (IE) D EUR HDG 3.23
FORESIGHT SOLAR FUND LTD 3.15
TRSWAP: AQPEEC4N INDEX 3.05
SCOTTISH MORTGAGE INVESTMENT TRUST 3.03
GREENCOAT RENEWABLES PLC 3.01
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

Sorry, sectors are not available at this time.
Sorry, countries/regions are not available at this time.
Sorry, countries/regions are not available at this time.
as of Feb 29, 2024

% of Market Value

Type Fund Benchmark Net
Due to the use of derivatives, reported asset allocation may not be fully reflective of the risk profile of the fund’s market exposure. Allocations subject to change.
Sorry, maturities are not available at this time.
Sorry, ratings are not available at this time.
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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
I2 Hgd USD 117.96 0.16 0.14 Mar 27, 2024 118.13 106.35 LU2079411406
A2 EUR 125.49 0.14 0.11 Mar 27, 2024 125.78 114.46 LU0496817981
I2 Hgd SEK 140.64 0.16 0.11 Mar 27, 2024 140.90 127.99 LU0871610134
Class AI2 EUR 105.58 0.12 0.11 Mar 27, 2024 105.82 96.30 LU2008561552
X2 EUR 151.72 0.17 0.11 Mar 27, 2024 151.98 137.53 LU0496819334
I2 Hgd JPY 10,885.57 7.45 0.07 Mar 27, 2024 10,933.03 10,063.26 LU1992118031
I2 EUR 140.99 0.16 0.11 Mar 27, 2024 141.24 128.10 LU0572146941
A2 Hgd SEK 127.61 0.14 0.11 Mar 27, 2024 127.90 116.61 LU0724654230
D2 EUR 136.46 0.16 0.12 Mar 27, 2024 136.71 124.10 LU0586680109
E2 EUR 118.15 0.13 0.11 Mar 27, 2024 118.45 107.99 LU0586678897
Class I2 CAD Hedged CAD 136.29 0.18 0.13 Mar 27, 2024 136.50 123.20 LU1355424828

Portfolio Managers

Portfolio Managers

Adam Ryan
Chief Investment Officer of Multi-Alternatives and Head of Diversified Strategies, Multi-Asset Strategies & Solutions

Adam Ryan, Managing Director, is the Chief Investment Officer of Multi-Alternatives within BlackRock’s Multi-Asset Strategies & Solutions (MASS) group.

Rupert Harrison
Rupert Harrison
Conan McKenzie, CFA
Portfolio Manager, Diversified Strategies Team

Conan McKenzie, CFA, Director

Literature

Literature