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Financial Intermediaries
On this website, Financial Intermediaries are investors that qualify as both a Professional Client and a Qualified Investor.
A person who can both be classified as a professional client under the Markets in Financial Instruments Directive II (2014/65/EU, “MiFID”), as implemented in Finland, and a qualified investor under the Prospectus Regulation (EU) 2017/1129) will generally need to meet one or more of the following requirements:
(1) it is required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive:
(a) a credit institution;
(b) an investment firm;
(c) a stock exchange;
(d) an insurance company;
(e) a collective investment scheme or the management company of such a scheme;
(f) a pension insurance company, a pension foundation or a pension fund;
(g) a central securities depository or central counterparty;
(h) a commodity or commodity derivatives dealer;
(i) a local;
(j) any other institutional investor;
(2) it is a large undertaking that meets two of the following tests: (i) a balance sheet total of EUR 20,000,000; (ii) an annual net turnover of EUR 40,000,000; or (iii) own funds of EUR 2,000,000;
(3) it is a national or regional government, a public body that manages public debt, a central bank, an international or supranational institution (such as the World Bank, the IMF, the ECB, the EIB) or another similar international organization;
(4) a institutional investor whose main activity is to invest in financial instruments, including an entity dedicated to the securitisation of assets or other financing transactions;
(5) a natural person resident in an EEA State that permits the authorisation of natural persons as professional clients and qualified investors, who expressly asks to be treated as a professional client and a qualified investor and who meets at least two of the following criteria: (i) he/she has carried out transactions, in significant size, on securities markets at an average frequency of, at least, 10 per quarter over the previous four quarters before the application, (ii) the size of his/her financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500,000, (iii) he/she works or has worked for at least one year in the financial sector in a professional position which requires knowledge of securities investment.
Please note that the above summary is provided for information purposes only. If you are uncertain as to whether you can both be classified as a professional client under MiFID and classed as a qualified investor under the Prospectus Regulation then you should seek independent advice.
Terms and conditions
Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which our funds are authorised for sale. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction.
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The offshore funds described in the following pages are administered and managed by companies within the BlackRock Group and can be marketed in certain jurisdictions only. It is your responsibility to be aware of the applicable laws and regulations of your country of residence. Further information is available in the Prospectus or other constitutional document for each fund.
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Specifically, the funds described are not available for distribution to or investment by US investors. The units/shares will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and, except in a transaction which does not violate the Securities Act or any other applicable US securities laws (including without limitation any applicable law of any of the States of the USA) may not be directly or indirectly offered or sold in the USA or any of its territories or possessions or areas subject to its jurisdiction or to or for the benefit of a US Person.
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Risk Warnings
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.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time.
BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. The data displayed provides summary information. Investment should be made on the basis of the relevant Prospectus which is available from the manager.
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Please note that while some of the BlackRock funds are "ring-fenced", others form part of a single company and are not. For BlackRock funds that do not have segregated liability status, in the event of a single BlackRock fund being unable to meet liabilities attributable to that BlackRock fund out of the assets attributable to it, the excess may be met out of the assets attributable to the other BlackRock funds within the same company. We refer you to the Prospectus or other relevant terms and conditions of each BlackRock fund for further information in this regard.
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A SPOTLIGHT ON PORTFOLIO TRENDS
The portfolio of the future
FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS / QUALIFIED CLIENTS / SOPHISTICATED INSTITUTIONS ONLY
In today’s markets, portfolio construction has entered a new regime. Higher macro and market volatility, greater dispersion, diverging monetary policy and heightened geopolitical tensions have made traditional diversification less reliable and portfolio outcomes harder to predict.
Against this backdrop, hedge funds are becoming increasingly important building blocks. They offer the potential for durable alpha, low correlation to traditional assets, and meaningful downside protection across market cycles, in our view, particularly when stock-bond relationships become less dependable.
What defines this next chapter for hedge funds is not just the environment, but the opportunity set. Spanning macro-strategy, equity-hedged, event-driven and multi-strategy approaches, hedge funds can enhance portfolio resilience, returns and efficiency.
Our analysis suggests that these benefits are amplified when multiple strategies work together. Blending hedge funds with each other, and with other asset classes such as private markets, can further improve expected risk-adjusted returns and enhance portfolio diversification, all while preserving liquidity, consequently helping investors to design a portfolio fit for the future.
Read more in the latest edition of our Portfolio of the future series.
Estimated length: 58 seconds.
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed.
This document is marketing material: Before investing, please read the Prospectus and the PRIIPs KID available on www.blackrock.com/it, which contain a summary of investors’ rights.
Investors may not get back the amount originally invested.
Important Information
This material is for distribution to Professional, Qualified Clients and Investors only.
This document is marketing material and will expire 12 months after issue
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In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20-549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.
For qualified investors in Switzerland:
This document shall be exclusively made available to, and directed at, qualified investors as defined in Article 10 (3) of the CISA of 23 June 2006, as amended, at the exclusion of qualified investors with an opting-out pursuant to Art. 5 (1) of the Swiss Federal Act on Financial Services ('FinSA').
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BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20-549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.
For investors in Bahrain
The information contained in this document, does not constitute and should not be construed as an offer of, invitation or proposal to make an offer for, recommendation to apply for or an opinion or guidance on a financial product, service and/or strategy. Whilst great care has been taken to ensure that the information contained in this document is accurate, no responsibility can be accepted for any errors, mistakes or omissions or for any action taken in reliance thereon. You may only reproduce, circulate and use this document (or any part of it) with the consent of BlackRock.
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The information contained in this document, may contain statements that are not purely historical in nature but are 'forwardlooking statements'. These include, amongst other things, projections, forecasts or estimates of income. These forwardlooking statements are based upon certain assumptions, some of which are described in other relevant documents or materials. If you do not understand the contents of this document, you should consult an authorised financial adviser.
For investors in Kuwait
The information contained in this document, does not constitute and should not be construed as an offer of, invitation or proposal to make an offer for, recommendation to apply for or an opinion or guidance on a financial product, service and/or strategy. Whilst great care has been taken to ensure that the information contained in this document is accurate, no responsibility can be accepted for any errors, mistakes or omissions or for any action taken in reliance thereon. You may only reproduce, circulate and use this document (or any part of it) with the consent of BlackRock.
The information contained in this document is for information purposes only. It is not intended for and should not be distributed to, or relied upon by, members of the public.
The information contained in this document, may contain statements that are not purely historical in nature but are 'forwardlooking statements'. These include, amongst other things, projections, forecasts or estimates of income. These forwardlooking statements are based upon certain assumptions, some of which are described in other relevant documents or materials. If you do not understand the contents of this document, you should consult an authorised financial adviser.
For investors in Oman
The information contained in this document, does not constitute and should not be construed as an offer of, invitation or proposal to make an offer for, recommendation to apply for or an opinion or guidance on a financial product, service and/or strategy. Whilst great care has been taken to ensure that the information contained in this document is accurate, no responsibility can be accepted for any errors, mistakes or omissions or for any action taken in reliance thereon. You may only reproduce, circulate and use this document (or any part of it) with the consent of BlackRock.
The information contained in this document is for information purposes only. It is not intended for and should not be distributed to, or relied upon by, members of the public.
The information contained in this document, may contain statements that are not purely historical in nature but are 'forwardlooking statements'. These include, amongst other things, projections, forecasts or estimates of income. These forwardlooking statements are based upon certain assumptions, some of which are described in other relevant documents or materials. If you do not understand the contents of this document, you should consult an authorised financial adviser.
For investors in Qatar
The information contained in this document, does not constitute and should not be construed as an offer of, invitation or proposal to make an offer for, recommendation to apply for or an opinion or guidance on a financial product, service and/or strategy. Whilst great care has been taken to ensure that the information contained in this document is accurate, no responsibility can be accepted for any errors, mistakes or omissions or for any action taken in reliance thereon. You may only reproduce, circulate and use this document (or any part of it) with the consent of BlackRock.
The information contained in this document is for information purposes only. It is not intended for and should not be distributed to, or relied upon by, members of the public.
The information contained in this document, may contain statements that are not purely historical in nature but are 'forwardlooking statements'. These include, amongst other things, projections, forecasts or estimates of income. These forwardlooking statements are based upon certain assumptions, some of which are described in other relevant documents or materials. If you do not understand the contents of this document, you should consult an authorised financial adviser
For investors in South Africa
Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Conduct Authority, FSP No. 43288.
Any research in this document has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in the BlackRock Group or any part thereof and no assurances are made as to their accuracy.
This document is for information purposes only and does not constitute an offer or invitation to anyone to invest in any BlackRock funds and has not been prepared in connection with any such offer.
© 2026 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, and iSHARES are trademarks of BlackRock, Inc. or its affiliates All other trademarks are those of their respective owners.
In today’s volatile macro and market environment, traditional portfolio strategies may fall short. The Portfolio of the Future series explores innovative approaches and emerging trends to help investors build more resilient, efficient multi-asset portfolios.
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.
Meeting a higher performance bar: hedge funds
In a more volatile and fragmented market environment, traditional diversifiers are becoming less reliable. We believe hedge funds are increasingly emerging as core components of portfolios and can potentially offer durable alpha, uncorrelated returns and downside protection across market cycles.
Spanning macro, equity-hedged, event-driven and multi-strategy approaches, hedge funds may help transform volatility into a source of return. When blended together or alongside private markets, they may enhance portfolio resilience, improve risk-adjusted returns and help redefine diversification for a new investment regime.
Meeting a higher performance bar: hedge funds
Higher volatility, weaker correlations and geopolitical uncertainty are challenging traditional portfolio diversifiers and increasing unpredictability in portfolio construction. Hedge funds are becoming essential building blocks, offering durable alpha, uncorrelated returns and downside protection across market cycles. We outline the benefits of macro, equity‑hedged, event‑driven and multi‑strategy approaches, hedge funds and how blending multiple strategies can enhance portfolio resilience and improve risk‑adjusted returns.
Capital Market Assumptions: informing long-term portfolio decisions
Our forward-looking research helps institutional investors assess return and risk expectations across asset classes amid structural change and wider outcome dispersion. These insights can support more robust strategic allocation, risk assessment and long-term portfolio construction.
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