Equity

BSF Global Event Driven 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 value of your investment and the income from it will vary and your initial investment amount is not guaranteed. Overseas investments will be affected by movements in currency exchange rates.

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

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Reinvestments

This fund does not have any distributions data as of now.

  2019 2020 2021 2022 2023
Total Return (%) 2.23 -2.01 7.68
Comparator Benchmark 1 (%) 0.05 1.46 5.01

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

  1Y 3Y 5Y 10y Incept.
8.17 1.35 - - 3.36
Comparator Benchmark 1 (%) 5.45 2.89 - - 2.12
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-0.05 0.35 -0.17 3.38 8.17 4.11 - - 15.57
Comparator Benchmark 1 (%) 2.21 0.48 1.36 2.69 5.45 8.92 - - 9.62
  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of Mar 31, 2024

- 16.82 0.85 -0.01 5.82
Comparator Benchmark 1 (%)

as of Mar 31, 2024

- 0.12 0.06 2.50 5.24
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 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 Jun 12, 2024
USD 1,892,211,698
Fund Inception Date
Aug 4, 2015
Base Currency
USD
Comparator Benchmark 1
ICE BofA 3-MO US Treasury Bill (G0O1)
Initial Charge
0.00%
ISIN
LU2099035045
Performance Fee
20.00%
Minimum Subsequent Investment
USD 10000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BLGEDSU
Share Class Inception Date
Jan 15, 2020
Share Class Currency
USD
Asset Class
Equity
SFDR Classification
Other
Ongoing Charge
1.06%
Annual Management Fee
0.70%
Minimum Initial Investment
USD 50000000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Event Driven
Dealing Frequency
Daily, forward pricing basis
SEDOL
BJ9V1T2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of May 31, 2024
278
P/E Ratio
as of May 31, 2024
21.33
Standard Deviation (3y)
as of May 31, 2024
5.32%
P/B Ratio
as of May 31, 2024
2.48

Sustainability Characteristics

Sustainability Characteristics

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. 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 May 31, 2024
0.12%
MSCI - Nuclear Weapons
as of May 31, 2024
0.12%
MSCI - Civilian Firearms
as of May 31, 2024
0.45%
MSCI - Tobacco
as of May 31, 2024
0.02%
MSCI - UN Global Compact Violators
as of May 31, 2024
0.00%
MSCI - Thermal Coal
as of May 31, 2024
0.00%
MSCI - Oil Sands
as of May 31, 2024
0.00%

Business Involvement Coverage
as of May 31, 2024
57.04%
Percentage of Fund not covered
as of May 31, 2024
10.28%
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 0.00%.

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 evaluates the fundamental and strategic aspects of securities in which the Fund may invest. This may include a detailed, comprehensive review and analysis of all aspects of the company, including ESG policies, when evaluating opportunities. The Fund manager's deep due diligence informs a holistic perspective on a given issuer and may impact the investment decision. Additionally, on a regular basis the Fund manager conducts portfolio risk reviews between the investment team and BlackRock’s 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, where appropriate.

Ratings

Ratings

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 Apr 30, 2024)

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of May 31, 2024
Name Weight (%)
HESS CORP 4.41
CAESARS ENTERTAINMENT INC 3.45
CATALENT INC 3.39
COTY INC 2.98
SHOCKWAVE MEDICAL INC 2.64
Name Weight (%)
HOWMET AEROSPACE INC 2.59
UNITED STATES STEEL CORP 2.46
CLOUD SOFTWARE GROUP INC 2.38
ALBERTSONS COMPANIES INC 2.04
APARTMENT INCOME REIT CORP 2.02
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 2024

% of Market Value

Type Fund
as of May 31, 2024

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class S2 USD 115.69 0.59 0.51 Jun 12, 2024 116.84 107.79 LU2099035045
A2 Hgd CHF 108.29 0.51 0.47 Jun 12, 2024 110.68 104.14 LU1400751324
I2 Hgd EUR 120.21 0.59 0.49 Jun 12, 2024 121.62 113.27 LU1382784764
Class Z2 Hedged GBP 137.09 0.67 0.49 Jun 12, 2024 138.48 128.02 LU1288049866
Class Z2 USD 148.55 0.74 0.50 Jun 12, 2024 150.01 138.25 LU1258025839
Class IA2 Hedged EUR 108.41 0.54 0.50 Jun 12, 2024 109.62 101.85 LU2125116769
Class AI2 EUR 104.14 0.51 0.49 Jun 12, 2024 105.48 98.59 LU2103007592
Class I5 Hedged GBP 122.36 0.60 0.49 Jun 12, 2024 123.63 114.42 LU1603215044
Class Z2 Hedged EUR 126.86 0.62 0.49 Jun 12, 2024 128.32 119.38 LU1288049940
D2 Hgd GBP 125.79 0.61 0.49 Jun 12, 2024 127.14 117.84 LU1373034930
Class S2 Hedged EUR 107.45 0.53 0.50 Jun 12, 2024 108.70 101.24 LU1706559405
Class IA2 USD 126.63 0.63 0.50 Jun 12, 2024 127.83 117.64 LU1921562119
I2 Hgd CHF 109.14 0.52 0.48 Jun 12, 2024 111.15 104.44 LU1603214401
E2 Hgd EUR 110.80 0.54 0.49 Jun 12, 2024 112.38 105.23 LU1278928574
A2 USD 135.02 0.67 0.50 Jun 12, 2024 136.48 126.43 LU1251620883
E2 EUR 137.81 -0.70 -0.51 Jun 12, 2024 140.47 128.25 LU1278928657
Class Z2 Hedged CHF 120.12 0.57 0.48 Jun 12, 2024 122.25 114.78 LU1341466644
I2 Hgd JPY 10,925.23 51.98 0.48 Jun 12, 2024 11,207.07 10,565.78 LU1781817421
D2 Hgd EUR 117.19 0.58 0.50 Jun 12, 2024 118.59 110.63 LU1373035077
D2 Hgd CHF 112.24 0.53 0.47 Jun 12, 2024 114.43 107.60 LU1387771113
I5 USD 131.96 0.66 0.50 Jun 12, 2024 133.28 122.97 LU1603214153
A2 Hgd HKD 1,091.96 5.35 0.49 Jun 12, 2024 1,105.38 1,028.78 LU2114397776
I4 Hgd EUR 113.65 0.55 0.49 Jun 12, 2024 116.67 108.66 LU1817852764
X2 Hgd AUD 105.07 0.51 0.49 Jun 12, 2024 106.16 98.21 LU2649166159
X2 USD 166.96 0.84 0.51 Jun 12, 2024 168.46 154.62 LU1264793958
Class I2 BRL Hedged (USD) USD 106.20 -0.69 -0.65 Jun 12, 2024 117.29 101.49 LU2008661006
A4 Hgd EUR 107.65 0.53 0.49 Jun 12, 2024 109.04 101.93 LU1697783881
A2 Hgd EUR 112.13 0.54 0.48 Jun 12, 2024 113.58 106.19 LU1376384878
D2 USD 140.15 0.70 0.50 Jun 12, 2024 141.59 130.83 LU1251621188
D4 Hgd GBP 106.77 0.52 0.49 Jun 12, 2024 109.42 101.42 LU2215606471
I2 USD 130.64 0.66 0.51 Jun 12, 2024 131.94 121.73 LU1251621345
A2 Hgd SGD 108.33 0.53 0.49 Jun 12, 2024 110.04 102.84 LU2114397859

Portfolio Managers

Portfolio Managers

Mark McKenna
Managing Director, Founder and Global Head of Event Driven

Mark R. McKenna, Managing Director, is Founder and Global Head of Event Driven. Mr. McKenna is responsible for managing BlackRock's event-driven investing efforts.

Literature

Literature