Multi Asset

BlackRock Dynamic High Income Fund

IMPORTANT:
• The Fund follows a dynamic asset allocation strategy and may incur greater transaction costs when rebalanced periodically.The Fund may invest in debt securities that are subject to actual or perceived ratings downgrade. An increase in interest rates may adversely affect the value of the bonds held by the Fund. The Fund may invest in non-investment grade and unrated bonds that may be subject to higher default, volatility and liquidity risks. The Fund invests in bonds issued or guaranteed by governments or authorities, which may involve political, economic, default or other risks. The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund invests in asset/ mortgage backed securities that may be subject to greater credit, liquidity, and interest rate risks and are often exposed to extension and prepayment risks. The Fund's income-generating investment strategy may reduce the potential for capital growth and future income of the Fund. 
• The Fund is subject to risks associated with preference shares , currency risk, emerging market risk, securities lending counterparty risk, currency conversion risk including Renminbi denominated Classes, foreign investments restrictions risk and contingent convertible bonds risk. 
• Class 5(G) Shares pay dividends gross of expenses. Class 6 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Class 8 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion and include interest rate differentials arising from share class currency hedging. Negative interest rate differentials may decrease the dividends paid. Paying dividends gross of expenses may result in more income being available for distribution; however these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
• 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.
20.93 - - - 8.74
  YTD 6m 1y 3y 5y 10y Incept.
6.98 6.98 20.93 - - - 11.71
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.
BlackRock Dynamic High Income Fund
Enhance your income strategy with complementary income sources
BlackRock Dynamic High Income Fund

Key Facts

Key Facts

Size of Fund (Millions) as of 03-Aug-2021 USD 3,454.273 M
Base Currency U.S. Dollar
Fund Inception 06-Feb-2018
Share Class Currency Euro
Share Class Inception Date 04-Mar-2020
Additional Currencies Australian Dollar, British Pound, Canadian Dollar, Hong Kong Dollar, New Zealand Dollar, RMB, Singapore Dollar, Swiss Franc, U.S. Dollar
Asset Class Multi Asset
Morningstar Category EUR Flexible Allocation - Global
Distribution Frequency Monthly
ISIN LU2127174873
Bloomberg Ticker BGDHIAE
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 17.88
Average Market Cap (Millions) as of 30-Jun-2021 USD 319,329.7 M
Yield to Maturity as of 30-Jun-2021 -
Modified Duration as of 30-Jun-2021 2.12 yrs
12M Trailing Distribution as of 31-Jul-2021 4.32%
Effective Duration as of 30-Jun-2021 1.04
3y Volatility as of - -
5yr Volatility as of - -
Since Class Inception – Volatility as of 30-Jun-2021 10.26
Since Class Inception - Beta as of - -

Sustainability Characteristics

Sustainability Characteristics

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. 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-Jun-2021 0.04%
MSCI - UN Global Compact Violators as of 30-Jun-2021 0.71%
MSCI - Nuclear Weapons as of 30-Jun-2021 0.02%
MSCI - Thermal Coal as of 30-Jun-2021 0.00%
MSCI - Civilian Firearms as of 30-Jun-2021 0.04%
MSCI - Oil Sands as of 30-Jun-2021 0.01%
MSCI - Tobacco as of 30-Jun-2021 0.13%

Business Involvement Coverage as of 30-Jun-2021 70.23%
Percentage of Fund not covered as of 30-Jun-2021 30.55%
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 0.34% and for Oil Sands 0.48%.

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 includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, societal or governance topics, and from third-party providers. The Fund manager’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

Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Jun-2021
Name Weight (%)
ISHARES $ HIGH YIELD CRP BND ETF $ 5.02
ISHARES CORE S&P 500 UCITS ETF (DI 2.29
ISH ED MSCI USA VAL FCTR ETF 1.06
MSFT NOMURA HOLDINGS INC 9.58278/18/2021 0.68
MSFT BNP PARIBAS SA 4.877/20/2021 0.68
Name Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING 0.63
AAPL SHELL ELN 07/29/2021 0.54
GOOGL ROYAL BANK OF CANADA 12.298/18/2021 0.53
AAPL JP MORGAN STRUCTURED PRODUCTS BV 11.218/12/2021 0.52
AMZN CITIGROUP INC 10.827/28/2021 0.48
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

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

% of Weight

Type Fund
Allocations subject to change.
Sorry, market cap data is not available at this time.
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
A8 Hedged Euro Monthly 10.48 -0.04 -0.38 03-Aug-2021 10.57 9.16 LU2127174873
A6 Hedged Singapore Dollar Monthly 9.47 -0.03 -0.32 03-Aug-2021 9.55 8.31 LU1564329461
A6 Hedged Hong Kong Dollar Monthly 95.97 -0.30 -0.31 03-Aug-2021 96.82 84.23 LU1697837992
D6 U.S. Dollar Monthly 10.04 -0.03 -0.30 03-Aug-2021 10.12 8.75 LU1564329388
A6 Hedged Canadian Dollar Monthly 9.68 -0.03 -0.31 03-Aug-2021 9.76 8.51 LU1811366001
A2 U.S. Dollar Non-Distributing 12.39 -0.04 -0.32 03-Aug-2021 12.44 10.40 LU1564329032
D2 Euro Non-Distributing 10.72 -0.03 -0.28 03-Aug-2021 10.82 9.09 LU1811365615
A6 U.S. Dollar Monthly 9.77 -0.03 -0.31 03-Aug-2021 9.85 8.57 LU1564329115
A2 Hedged Singapore Dollar Non-Distributing 12.03 -0.03 -0.25 03-Aug-2021 12.07 10.09 LU1564329628
D2 Hedged Swiss Franc Non-Distributing 11.60 -0.03 -0.26 03-Aug-2021 11.64 9.76 LU1800013010
A8 Hedged New Zealand Dollar Monthly 9.83 -0.03 -0.30 03-Aug-2021 9.91 8.59 LU1811365961
A6 Hedged Euro Monthly 8.95 -0.03 -0.33 03-Aug-2021 9.04 7.91 LU1706154686
D2 Hedged Euro Non-Distributing 11.85 -0.04 -0.34 03-Aug-2021 11.90 9.95 LU1811365888
A8 Hedged RMB Monthly 98.51 -0.30 -0.30 03-Aug-2021 99.35 85.90 LU1733225004
A6 Hedged British Pound Monthly 9.17 -0.03 -0.33 03-Aug-2021 9.25 8.07 LU1733224965
A2 Hedged Swiss Franc Non-Distributing 11.31 -0.04 -0.35 03-Aug-2021 11.36 9.57 LU1800012988
D5 Hedged British Pound Quarterly 10.43 -0.03 -0.29 03-Aug-2021 10.56 9.11 LU1940842427
D2 U.S. Dollar Non-Distributing 12.73 -0.04 -0.31 03-Aug-2021 12.77 10.62 LU1564329206
A8 Hedged Australian Dollar Monthly 9.45 -0.03 -0.32 03-Aug-2021 9.54 8.28 LU1564329545

Portfolio Managers

Portfolio Managers

Michael Fredericks
Michael Fredericks
Justin Christofel
Justin Christofel
Alex Shingler
Alex Shingler

Documents

Documents