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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Distribution

 

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 27.20 9.92 11.80 9.56 -4.43 29.04 7.27 34.14 -10.11 18.23
Benchmark (%) 28.95 12.41 15.41 6.89 0.02 33.84 10.97 36.06 -13.83 22.25

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

  1y 3y 5y 10y Incept.
21.79 9.72 12.73 13.47 8.54
Benchmark (%) 26.81 11.29 13.93 15.09 10.28
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
9.25 -2.35 4.51 18.92 21.79 32.09 82.08 253.90 482.72
Benchmark (%) 9.10 -3.29 5.81 19.78 26.81 37.84 91.98 307.66 719.38
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.

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 EUR, 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 21-May-2024 USD 2,273,543,911
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 Article 8
Initial Charge 5.00%
ISIN LU0171296865
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
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 30-Apr-2024 55
Standard Deviation (3y) as of 30-Apr-2024 13.87%
3y Beta as of 30-Apr-2024 0.811
P/E Ratio as of 30-Apr-2024 23.53
P/B Ratio as of 30-Apr-2024 3.48

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 30-Apr-2024 0.00%
MSCI - UN Global Compact Violators as of 30-Apr-2024 0.00%
MSCI - Nuclear Weapons as of 30-Apr-2024 0.00%
MSCI - Thermal Coal as of 30-Apr-2024 0.00%
MSCI - Civilian Firearms as of 30-Apr-2024 0.00%
MSCI - Oil Sands as of 30-Apr-2024 0.00%
MSCI - Tobacco as of 30-Apr-2024 0.00%

Business Involvement Coverage as of 30-Apr-2024 99.91%
Percentage of Fund not covered as of 30-Apr-2024 0.31%
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 4.50%.

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 integrates ESG criteria into screening, company research and portfolio construction tools. The criteria may include data from 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, where appropriate, 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 30-Apr-2024
Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Apr-2024
Name Weight (%)
MICROSOFT CORPORATION 8.01
AMAZON.COM INC 5.95
ALPHABET INC 5.91
APPLE INC 3.34
META PLATFORMS INC 3.17
Name Weight (%)
BERKSHIRE HATHAWAY INC 2.61
NOVO NORDISK A/S 2.44
INTERCONTINENTAL EXCHANGE INC 2.37
ADVANCED MICRO DEVICES INC 2.27
NVIDIA CORPORATION 2.25
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-Apr-2024

% of Weight

Type Fund Benchmark Net
as of 30-Apr-2024

% of Weight

Type Fund Benchmark Net
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 NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A2 EUR 60.51 -0.06 -0.10 21-May-2024 60.77 49.26 LU0171296865
C2 HEDGED EUR 27.34 -0.05 -0.18 21-May-2024 27.48 22.15 LU0200684933
C2 EUR 45.93 -0.05 -0.11 21-May-2024 46.14 37.65 LU0331288190
Class I2 GBP 35.70 -0.15 -0.42 21-May-2024 36.05 34.12 LU2779021174
D2 EUR 69.41 -0.06 -0.09 21-May-2024 69.70 56.21 LU0252963979
A2 Hedged CNH 283.94 -0.49 -0.17 21-May-2024 285.40 229.10 LU1333800271
D4 GBP 55.23 -0.23 -0.41 21-May-2024 55.77 45.22 LU0827887430
C2 USD 49.84 -0.08 -0.16 21-May-2024 50.09 39.94 LU0213374126
D2 Hedged EUR 43.63 -0.06 -0.14 21-May-2024 43.84 34.95 LU0252964357
A4 GBP 51.62 -0.22 -0.42 21-May-2024 52.13 42.58 LU0204065857
A2 Hedged EUR 38.06 -0.06 -0.16 21-May-2024 38.25 30.61 LU0200684693
A2 USD 65.65 -0.10 -0.15 21-May-2024 65.97 52.25 LU0154236417
A4 HEDGED EUR 38.18 -0.06 -0.16 21-May-2024 38.37 30.71 LU0408222163
A4 EUR 60.53 -0.06 -0.10 21-May-2024 60.79 49.28 LU0408221942
D4 EUR 64.76 -0.06 -0.09 21-May-2024 65.04 52.45 LU0827887513
A2 Hedged JPY 1,644.00 -3.00 -0.18 21-May-2024 1,653.00 1,348.00 LU1948809287
D2 USD 75.30 -0.11 -0.15 21-May-2024 75.66 59.68 LU0252969232
A2 Hedged CZK 114.37 -0.17 -0.15 21-May-2024 114.92 90.82 LU2637456042
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Todd Burnside
Todd Burnside
Ibrahim Kanan
Ibrahim Kanan

Documents

Documents