Multi Asset

BlackRock ESG Multi-Asset Fund

IMPORTANT:
• Use of environmental, social and governance (“ESG”) criteria as the investing principles may impact the Fund’s performance. Reliance on third party data may lead to incorrect evaluation of a security or issuer based on ESG criteria. There may also be a risk of incorrectly applying the relevant ESG criteria on the Fund. 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. 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 non-Investment grade and unrated bond risks, securities lending counterparty risk, risks relating to Total Return Swap, risks relating to Contracts for Differences, liquidity risk and contingent convertible bonds risk.
• 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 extensively for investment purposes. Risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The Fund’s volatility may increase or decrease from its derivative usage, and may suffer losses.
• 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

Loading

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
  1y 3y 5y 10y Incept.
- - - - -
  YTD 6m 1y 3y 5y 10y Incept.
5.14 6.29 - - - - 6.40
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 22-Jun-2021 EUR 2,934.931 M
Base Currency Euro
Fund Inception 04-Jan-1999
Share Class Currency Australian Dollar
Share Class Inception Date 18-Nov-2020
Additional Currencies Euro, Singapore Dollar, U.S. Dollar, ZAR
Asset Class Multi Asset
Morningstar Category -
Distribution Frequency Non-Distributing
ISIN LU2250418493
Bloomberg Ticker BGEMA2A
Management Fee (incl Distribution Fee, if any) 1.20%
Initial Charge 5.00%
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 28-May-2021 30.68
Average Market Cap (Millions) as of 28-May-2021 EUR 147,216.6 M
Modified Duration as of 28-May-2021 2.67 yrs
12M Trailing Distribution as of - -
3y Volatility as of - -
5yr Volatility as of - -
Since Class Inception – Volatility as of 31-May-2021 2.78
Since Class Inception - Beta as of 31-May-2021 0.57

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-Jun-2021 A
MSCI ESG Quality Score (0-10) as of 07-Jun-2021 6.91
MSCI ESG Quality Score - Peer Percentile as of 07-Jun-2021 79.76
MSCI ESG % Coverage as of 07-Jun-2021 88.54
Fund Lipper Global Classification as of 07-Jun-2021 Mixed Asset EUR Bal - Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07-Jun-2021 67.96
Funds in Peer Group as of 07-Jun-2021 677
All data is from MSCI ESG Fund Ratings as of 07-Jun-2021, based on holdings as of 31-Dec-2020. 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 28-May-2021 0.00%
MSCI - UN Global Compact Violators as of 28-May-2021 0.00%
MSCI - Nuclear Weapons as of 28-May-2021 0.00%
MSCI - Thermal Coal as of 28-May-2021 0.00%
MSCI - Civilian Firearms as of 28-May-2021 0.00%
MSCI - Oil Sands as of 28-May-2021 0.00%
MSCI - Tobacco as of 28-May-2021 0.00%

Business Involvement Coverage as of 28-May-2021 57.95%
Percentage of Fund not covered as of 28-May-2021 42.05%
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 0.28%.

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 incorporates ESG considerations throughout the investment process’ macro outlook, idea generation, implementation tools, portfolio construction, risk management, ongoing monitoring and reporting. All research ideas generated for the Fund consider the potential impact from ESG-associated risks, and these are documented as part of the investment process. Idea implementation uses a wide range of building blocks, including active mutual funds, index funds, ETFs, direct securities, derivatives, and third-party funds. The Fund manager reviews research ideas and asset allocation on a regular basis and reassesses each of the building blocks utilized to access research ideas. The choice of building block is informed by ESG considerations. For strategies with an explicit ESG objective, certain building blocks are used to comply with those guidelines. Where an ESG focused building block becomes available, it will be considered as a replacement for standard market exposure. Both the extent and impact of screens and integration are considered in the context of the investment objective / investment style of particular strategies. The Fund manager may also build bespoke thematic baskets of securities, which are subject to BlackRock baseline screens in the first instance and where appropriate, additional screening criteria. The Fund manager uses E, S, and G criteria such as headline ESG and carbon footprint during the reporting phase. These are sourced from Aladdin or directly from third-party data providers. The Fund manager conducts regular portfolio monitoring with BlackRock’s Risk and Quantitative Analysis group, as well as portfolio reviews with 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

Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 28-May-2021
Name Weight (%)
ISH MSCI USA SRI ETF USD ACC 3.06
TREASURY NOTE 1.5 02/15/2030 3.03
MICROSOFT CORP 2.55
ISHARES PHYSICAL GOLD 2.48
ITALY (REPUBLIC OF) 1.35 04/01/2030 1.98
Name Weight (%)
TREASURY NOTE 0.125 07/31/2022 1.72
SDCL ENERGY EFFICIENCY INCOME TRUS 1.54
GERMANY (FEDERAL REPUBLIC OF) 0 08/15/2030 1.50
ISHARES $ HIGH YIELD CORP BO USDHA 1.38
JAPAN (GOVERNMENT OF) 10YR #360 0.1 09/20/2030 1.31
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 28-May-2021

% of Weight

Type Fund
Due to the use of derivatives, reported asset allocation may not be fully reflective of the risk profile of the fund’s market exposure. Allocations subject to change.
Sorry, markets/regions are not available at this time.
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.
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
A2 Hedged Australian Dollar Non-Distributing 10.80 0.05 0.47 22-Jun-2021 10.81 9.96 LU2250418493
A8 Hedged Singapore Dollar Monthly 11.34 0.05 0.44 22-Jun-2021 11.35 10.01 LU2092937148
A2 Hedged U.S. Dollar Non-Distributing 49.61 0.22 0.45 22-Jun-2021 49.64 42.62 LU0494093205
A2 Euro Non-Distributing 19.00 0.08 0.42 22-Jun-2021 19.02 16.45 LU0093503497
D2 Hedged U.S. Dollar Non-Distributing 52.66 0.23 0.44 22-Jun-2021 52.69 45.00 LU0827879924
A4 Euro Annually 10.77 0.05 0.47 22-Jun-2021 10.78 9.96 LU2256991352
A2 Hedged ZAR Non-Distributing 110.69 0.51 0.46 22-Jun-2021 110.74 99.70 LU2250418576
C2 Euro Non-Distributing 15.73 0.07 0.45 22-Jun-2021 15.74 13.78 LU0147384282
A8 Hedged U.S. Dollar Monthly 11.40 0.05 0.44 22-Jun-2021 11.41 10.06 LU2092627202
D2 Euro Non-Distributing 20.60 0.09 0.44 22-Jun-2021 20.62 17.74 LU0473185139
C2 HEDGED U.S. Dollar Non-Distributing 37.55 0.16 0.43 22-Jun-2021 37.58 32.66 LU0494093544
A2 Hedged Singapore Dollar - 11.84 0.05 0.42 22-Jun-2021 11.85 10.18 LU2077746001

Portfolio Managers

Portfolio Managers

Jason Byrom
Jason Byrom
Conan McKenzie
Conan McKenzie

Documents

Documents