Equity

BlackRock US Flexible Equity Fund

IMPORTANT:
•The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund's investments are concentrated in the US. This may result in greater volatility than more broad-based investments
•The Fund is subject to currency risk and currency conversion risk including Renminbi denominated Classes.
•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

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  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) 8.16 27.52 27.20 9.92 11.80 9.56 -4.43 29.04 7.27 34.14
Benchmark (%) 14.63 27.36 28.95 12.41 15.41 6.89 0.02 33.84 10.97 36.06
  1y 3y 5y 10y Incept.
3.06 13.91 11.95 13.97 8.26
Benchmark (%) -2.09 14.52 13.88 15.75 9.96
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-2.58 5.27 -2.98 -2.69 3.06 47.81 75.83 269.90 388.94
Benchmark (%) -6.27 7.07 -2.75 0.62 -2.09 50.18 91.50 331.83 568.23
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

Net Assets of Fund as of 01-Dec-2022 USD 1,372,904,884
Share Class Inception Date 31-Oct-2002
Fund Inception 31-Oct-2002
Share Class Currency EUR
Fund Base Currency USD
Asset Class Equity
Benchmark Russell 1000 Index (EUR)
SFDR Classification Other
Initial Charge 5.00%
Management Fee (incl Distribution Fee, if any) 1.50%
Performance Fee 0.00%
Minimum Initial Investment EUR 5000
Minimum Subsequent Investment -
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category US Large-Cap Blend Equity
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MLFEEUA
ISIN LU0171296865
SEDOL 7454235
SFC-authorised ESG fund No
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Oct-2022 56
Standard Deviation (3y) as of 31-Oct-2022 19.04%
P/E Ratio as of 31-Oct-2022 16.98
P/B Ratio as of 31-Oct-2022 2.89

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. 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 31-Oct-2022 0.00%
MSCI - UN Global Compact Violators as of 31-Oct-2022 0.00%
MSCI - Nuclear Weapons as of 31-Oct-2022 0.00%
MSCI - Thermal Coal as of 31-Oct-2022 0.00%
MSCI - Civilian Firearms as of 31-Oct-2022 0.00%
MSCI - Oil Sands as of 31-Oct-2022 0.00%
MSCI - Tobacco as of 31-Oct-2022 0.00%

Business Involvement Coverage as of 31-Oct-2022 99.84%
Percentage of Fund not covered as of 31-Oct-2022 0.12%
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 3.37%.

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 integrates ESG criteria into screening, company research and portfolio construction tools. The data may include multiple third-party ESG vendors, BlackRock internal scoring, internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. ESG criteria are considered in combination with other information. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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

3 stars
As of 31-Oct-2022
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 31-Oct-2022
Name Weight (%)
MICROSOFT CORPORATION 5.47
APPLE INC 4.05
AMAZON.COM INC 4.03
ALPHABET INC 3.98
CORTEVA INC 3.31
Name Weight (%)
UNITEDHEALTH GROUP INC 3.06
VISA INC 2.72
BERKSHIRE HATHAWAY INC 2.61
COMCAST CORPORATION 2.55
ROSS STORES INC 2.27
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 31-Oct-2022

% of Weight

Type Fund
as of 31-Oct-2022

% 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 & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
A2 EUR Non-Distributing 49.33 0.87 1.80 01-Dec-2022 53.25 44.59 LU0171296865 -
A2 Hedged EUR Non-Distributing 31.16 0.92 3.04 01-Dec-2022 36.08 27.18 LU0200684693 -
A4 EUR Annually 49.35 0.87 1.79 01-Dec-2022 53.27 44.61 LU0408221942 -
C2 EUR Non-Distributing 38.14 0.67 1.79 01-Dec-2022 41.32 34.67 LU0331288190 -
A4 GBP Annually 42.22 0.32 0.76 01-Dec-2022 45.09 38.33 LU0204065857 -
C2 HEDGED EUR Non-Distributing 22.80 0.68 3.07 01-Dec-2022 26.70 19.92 LU0200684933 -
A2 Hedged JPY Non-Distributing 1,414.00 42.00 3.06 01-Dec-2022 1,625.00 1,234.00 LU1948809287 -
A4 HEDGED EUR Annually 31.25 0.92 3.03 01-Dec-2022 36.19 27.27 LU0408222163 -
C2 USD Non-Distributing 40.15 1.25 3.21 01-Dec-2022 45.52 34.87 LU0213374126 -
D2 Hedged EUR Non-Distributing 35.33 1.05 3.06 01-Dec-2022 40.62 30.79 LU0252964357 -
D2 USD Non-Distributing 58.92 1.84 3.22 01-Dec-2022 65.59 51.03 LU0252969232 -
A2 USD Non-Distributing 51.93 1.61 3.20 01-Dec-2022 58.21 45.03 LU0154236417 -
D4 GBP Annually 44.67 0.34 0.77 01-Dec-2022 47.61 40.42 LU0827887430 -
A2 Hedged CNH Non-Distributing 233.73 7.01 3.09 01-Dec-2022 262.55 203.30 LU1333800271 -
D4 EUR Annually 52.21 0.91 1.77 01-Dec-2022 56.24 47.04 LU0827887513 -
D2 EUR Non-Distributing 55.96 0.98 1.78 01-Dec-2022 60.27 50.42 LU0252963979 -
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Todd Burnside
Todd Burnside
Joseph Wolfe
Joseph Wolfe

Documents

Documents