Multi Asset

BlackRock Global Allocation Fund

IMPORTANT:
• The Fund may invest in debt securities that are subject to actual or perceived ratings downgrade. The Fund may invest in assets denominated in various currencies. Changes in exchange rates and currency controls may affect the value of the Fund's assets. The Fund invests in certain emerging markets and may be subject to political, tax, economic, social and foreign exchange risks. An increase in interest rates may adversely affect the value of the bonds held by the Fund. The Fund invests in bonds issued or guaranteed by governments or authorities, which may involve political, economic, default or other risks.
• The Fund is subject to foreign investments restrictions risk, non-Investment grade and unrated bond risks, smaller companies’ volatility and liquidity risks, securities lending counterparty risk, currency conversion risk including Renminbi denominated Classes and contingent convertible bonds risk.
• The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
• The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
• Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.

Overview

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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

Performance

Performance

Chart

Performance chart data not available for display.
View Charts & Calendar Year Performance

Distributions

Ex-Date Distribution
View full table
  1y 3y 5y 10y Incept.
20.69 10.73 8.31 8.13 8.54
  YTD 6m 1y 3y 5y 10y Incept.
9.86 9.86 20.69 35.76 49.05 118.49 177.35
Past performance is not a guide to future performance. Investors may not get back the full amount invested.

Performance is calculated based on the period NAV-to-NAV with dividend reinvested. Performance figures are calculated net of fees.

These figures show by how much the Share Class of the Fund increased or decreased in value during the period being shown. Performance is calculated in the relevant share class currency, including ongoing charges and taxes and excluding subscription and redemption fees, if applicable.

Where no past performance is shown there was insufficient data available in that period to provide performance.

Please refer to the Key Facts section for the inception date of the Fund and the Share Class.

Key Facts

Key Facts

Size of Fund (Millions) as of 23-Jul-2021 USD 18,338.885 M
Base Currency U.S. Dollar
Fund Inception 03-Jan-1997
Share Class Currency Euro
Share Class Inception Date 19-Jan-2009
Additional Currencies Australian Dollar, British Pound, Hong Kong Dollar, Hungarian Forint, Polish Zloty, RMB, Singapore Dollar, Swiss Franc, U.S. Dollar
Asset Class Multi Asset
Morningstar Category USD Moderate Allocation
Distribution Frequency Annually
ISIN LU0408221512
Bloomberg Ticker BGGAUA4
Management Fee (incl Distribution Fee, if any) 1.50%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 30-Jun-2021 31.14
Average Market Cap (Millions) as of 30-Jun-2021 USD 323,848.4 M
Effective Duration as of 30-Jun-2021 0.24
Effective Duration Fixed Income as of 30-Jun-2021 1.84
Effective Duration Fixed Income and Cash as of 30-Jun-2021 1.94

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 07-Jul-2021 A
MSCI ESG Quality Score (0-10) as of 07-Jul-2021 5.87
MSCI ESG Quality Score - Peer Percentile as of 07-Jul-2021 33.50
MSCI ESG % Coverage as of 07-Jul-2021 88.84
Fund Lipper Global Classification as of 07-Jul-2021 Mixed Asset USD Bal - Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07-Jul-2021 170.77
Funds in Peer Group as of 07-Jul-2021 203
All data is from MSCI ESG Fund Ratings as of 07-Jul-2021, based on holdings as of 31-Jan-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 30-Jun-2021 0.04%
MSCI - UN Global Compact Violators as of 30-Jun-2021 1.17%
MSCI - Nuclear Weapons as of 30-Jun-2021 -0.06%
MSCI - Thermal Coal as of 30-Jun-2021 0.10%
MSCI - Civilian Firearms as of 30-Jun-2021 0.06%
MSCI - Oil Sands as of 30-Jun-2021 0.00%
MSCI - Tobacco as of 30-Jun-2021 0.03%

Business Involvement Coverage as of 30-Jun-2021 72.72%
Percentage of Fund not covered as of 30-Jun-2021 27.28%
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 0.32% and for Oil Sands 0.88%.

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 Global Allocation Investment Team believes that a company’s ability to manage material environmental, social and governance (“ESG”) issues may be essential to the company’s ability to sustain growth and generate value for shareholders over the long term, and thus ESG performance indicators are considered as part of our investment process. For long-term investors like Global Allocation, incorporating ESG information into its research and investment decisions has been, and remains, very important to our fundamental investment process and our goal of seeking to maximize risk-adjusted returns.


The team analyzes ESG data when conducting research and due diligence on new investments, and when monitoring existing investments within the portfolio. The team’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

Ratings

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Effective 22-Apr-2019
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Jun-2021
Name Weight (%)
MICROSOFT CORP 2.34
ALPHABET INC CLASS C 1.70
APPLE INC 1.67
AMAZON COM INC 1.30
BANK OF AMERICA CORP 1.14
Name Weight (%)
JOHNSON & JOHNSON 1.00
MASTERCARD INC CLASS A 0.99
UNITEDHEALTH GROUP INC 0.99
TAIWAN SEMICONDUCTOR MANUFACTURING 0.86
ENBRIDGE INC 0.83
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.
as of 30-Jun-2021
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 0.89
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.27 11/19/2030 0.86
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.29 05/23/2029 0.83
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2024 0.68
ITALY (REPUBLIC OF) 1.35 04/01/2030 0.58
Name Weight (%)
ITALY (REPUBLIC OF) 0.95 08/01/2030 0.45
JAPAN (GOVERNMENT OF) 30YR #64 0.4 09/20/2049 0.38
MEXICO (UNITED MEXICAN STATES) (GO 7.75 05/29/2031 0.28
GREECE REPUBLIC OF (GOVERNMENT) 2 04/22/2027 0.19
ZIGGO BV RegS 2.875 01/15/2030 0.17
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.
Holdings subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 30-Jun-2021

% of Weight

Type Fund
Sorry, markets/regions are not available at this time.
as of 30-Jun-2021

% of Weight

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the geography where the issuer of the securities carries out much of their business. “Others” excluded from the chart above.
as of 30-Jun-2021

% of Weight

Type Fund
as of 30-Jun-2021

% of Weight

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.
Due to rounding, the total may not be equal to 100%

Pricing

Pricing

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A4 Euro Annually 63.87 0.47 0.74 23-Jul-2021 63.98 52.67 LU0408221512
D2 Euro Non-Distributing 72.80 0.54 0.75 23-Jul-2021 72.91 59.59 LU0523293024
C2 Euro Non-Distributing 49.31 0.36 0.74 23-Jul-2021 49.41 41.16 LU0331284793
A2 Hedged Australian Dollar Non-Distributing 22.40 0.07 0.31 23-Jul-2021 22.61 18.55 LU0468326631
A2 Hedged Euro Non-Distributing 47.06 0.15 0.32 23-Jul-2021 47.52 39.17 LU0212925753
A2 Hedged Singapore Dollar Non-Distributing 17.97 0.06 0.34 23-Jul-2021 18.12 14.83 LU0308772762
C2 HEDGED Euro Non-Distributing 35.34 0.11 0.31 23-Jul-2021 35.75 29.73 LU0212926058
A4 HEDGED Euro Annually 43.73 0.14 0.32 23-Jul-2021 44.16 36.39 LU0240613025
D2 Hedged Euro Non-Distributing 52.15 0.16 0.31 23-Jul-2021 52.61 43.08 LU0329591480
A2 Hedged Polish Zloty Non-Distributing 21.82 0.06 0.28 23-Jul-2021 22.03 18.08 LU0480534592
D2 Hedged Australian Dollar Non-Distributing 23.93 0.08 0.34 23-Jul-2021 24.13 19.67 LU0827880187
D2 Hedged Swiss Franc Non-Distributing 16.40 0.05 0.31 23-Jul-2021 16.55 13.58 LU0827880260
A2 Euro Non-Distributing 65.69 0.48 0.74 23-Jul-2021 65.81 54.17 LU0171283459
C2 U.S. Dollar Non-Distributing 58.01 0.17 0.29 23-Jul-2021 58.61 48.37 LU0147395726
A2 Hedged Swiss Franc Non-Distributing 15.34 0.05 0.33 23-Jul-2021 15.50 12.79 LU0343169966
D2 Hedged Singapore Dollar Non-Distributing 19.30 0.06 0.31 23-Jul-2021 19.45 15.81 LU0827880690
D4 British Pound Annually 55.23 0.23 0.42 23-Jul-2021 55.31 47.81 LU1852330908
A2 Hungarian Forint Non-Distributing 23,616.03 290.05 1.24 23-Jul-2021 23,616.03 18,714.15 LU0566074125
D4 Euro Annually 64.56 0.48 0.75 23-Jul-2021 64.66 53.09 LU0827880005
A2 Hedged British Pound Non-Distributing 38.79 0.12 0.31 23-Jul-2021 39.14 32.12 LU0236177068
D2 U.S. Dollar Non-Distributing 85.64 0.26 0.30 23-Jul-2021 86.28 70.00 LU0329592538
A2 Hedged Hong Kong Dollar Non-Distributing 18.43 0.06 0.33 23-Jul-2021 18.59 15.19 LU0788109477
A2 U.S. Dollar Non-Distributing 77.28 0.23 0.30 23-Jul-2021 77.95 63.64 LU0072462426
D2 Hedged British Pound Non-Distributing 41.41 0.13 0.31 23-Jul-2021 41.74 34.04 LU0827880344
D2 Hedged Polish Zloty Non-Distributing 23.33 0.08 0.34 23-Jul-2021 23.51 19.17 LU0827880427
A2 Hedged RMB Non-Distributing 179.68 0.56 0.31 23-Jul-2021 180.80 144.99 LU1062906877
A4 U.S. Dollar Annually 75.14 0.23 0.31 23-Jul-2021 75.79 61.88 LU0724617625
D4 Hedged Euro Annually 44.17 0.13 0.30 23-Jul-2021 44.56 36.62 LU0827880773

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Documents

Documents