Multi Asset

BGF Global Allocation Fund

Overview

Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares.
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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) 7.2 13.6 1.4 -2.7 2.2 10.5 -11.5 13.3 17.4 5.2
Constraint Benchmark 1 (%) 10.8 13.7 4.2 -0.8 6.1 15.7 -4.7 18.8 13.3 10.1
Comparator Benchmark 2 (%) 17.0 24.7 4.8 -1.4 8.6 24.1 -8.8 27.7 16.3 21.0
Comparator Benchmark 3 (%) 1.6 -4.0 -0.5 -3.6 1.6 7.5 -0.8 5.9 10.1 -7.0
  1y 3y 5y 10y Incept.
-18.68 1.86 1.05 3.03 2.85
Constraint Benchmark 1 (%) -13.37 3.44 4.86 6.09 5.11
Comparator Benchmark 2 (%) -14.58 7.18 7.81 9.63 -
Comparator Benchmark 3 (%) -16.77 -4.27 -1.17 -0.69 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-18.20 -6.99 -12.43 -18.20 -18.68 5.70 5.38 34.73 54.39
Constraint Benchmark 1 (%) -16.33 -6.35 -12.02 -16.33 -13.37 10.69 26.80 80.56 115.87
Comparator Benchmark 2 (%) -20.11 -8.92 -16.13 -20.11 -14.58 23.11 45.66 150.79 -
Comparator Benchmark 3 (%) -14.79 -3.15 -8.91 -14.79 -16.77 -12.28 -5.71 -6.65 -
  From
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
Total Return (%)

as of 30-Jun-2022

0.43 -0.72 2.76 26.49 -18.68
Constraint Benchmark 1 (%)

as of 30-Jun-2022

6.98 7.08 4.22 22.60 -13.37
Comparator Benchmark 2 (%)

as of 30-Jun-2022

11.14 6.46 2.73 40.28 -14.58
Comparator Benchmark 3 (%)

as of 30-Jun-2022

1.90 5.48 4.60 0.76 -16.77

Key Facts

Key Facts

Net Assets of Fund as of 05-Jul-2022 USD 14,819,105,284
Share Class launch date 24-Jan-2007
Fund Launch Date 03-Jan-1997
Share Class Currency EUR
Fund Base Currency USD
Asset Class Multi Asset
Constraint Benchmark 1 36% S&P 500, 24% FTSE World (ex.US), 24% ICE BofA ML Cur 5-yr US Treasury, 16% FTSE Non-USD WGBI
Comparator Benchmark 2 FTSE World Index
Comparator Benchmark 3 FTSE World Government Bond Index
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.78%
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment EUR 5,000.00
Minimum Subsequent Investment EUR 1,000.00
Distribution Frequency Annual
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category EUR Moderate Allocation - Global
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker MGAHGA1
ISIN LU0240613025
SEDOL B0XRPH9

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-May-2022 1088
12m Trailing Yield as of 31-Jul-2020 0.38
3y Beta as of 30-Jun-2022 1.080
P/E Ratio as of 31-May-2022 19.42
Average Market Cap (Millions) as of 31-May-2022 USD 311,906.70
Effective Duration as of 31-May-2022 0.73
Effective Duration Fixed Income as of 31-May-2022 4.37
Effective Duration Fixed Income and Cash as of 31-May-2022 1.66

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics 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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of 21-Jun-2022 AA
MSCI ESG % Coverage as of 21-Jun-2022 91.28
MSCI ESG Quality Score (0-10) as of 21-Jun-2022 7.25
MSCI ESG Quality Score - Peer Percentile as of 21-Jun-2022 74.09
Fund Lipper Global Classification as of 21-Jun-2022 Mixed Asset USD Bal - Global
Funds in Peer Group as of 21-Jun-2022 193
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Jun-2022 176.48
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Jun-2022 65.97
All data is from MSCI ESG Fund Ratings as of 21-Jun-2022, based on holdings as of 31-Jan-2022. 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 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.

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-May-2022 0.03%
MSCI - UN Global Compact Violators as of 31-May-2022 1.07%
MSCI - Nuclear Weapons as of 31-May-2022 0.03%
MSCI - Thermal Coal as of 31-May-2022 0.01%
MSCI - Civilian Firearms as of 31-May-2022 0.03%
MSCI - Oil Sands as of 31-May-2022 0.40%
MSCI - Tobacco as of 31-May-2022 0.01%

Business Involvement Coverage as of 31-May-2022 56.00%
Percentage of Fund not covered as of 31-May-2022 44.00%
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 0.67% and for Oil Sands 2.61%.

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.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Global Allocation Fund, Class A4 Hedged, as of 30-Jun-2022 rated against 2226 EUR Moderate Allocation - Global Funds.

Holdings

Holdings

as of 31-May-2022
Name Weight (%)
MICROSOFT CORP 2.03
APPLE INC 1.60
ALPHABET INC CLASS C 1.29
CONOCOPHILLIPS 1.08
AMAZON COM INC 1.07
Name Weight (%)
UNITEDHEALTH GROUP INC 0.93
MASTERCARD INC CLASS A 0.81
ENBRIDGE INC 0.79
SIEMENS N AG 0.76
EQT CORP 0.73
as of 31-May-2022
Name Weight (%)
TREASURY NOTE 2.75 04/30/2027 5.56
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.18
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.75
TREASURY BOND 2.25 02/15/2052 0.58
CANADA (GOVERNMENT OF) 0.25 03/01/2026 0.47
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2024 0.41
ITALY (REPUBLIC OF) 0.95 08/01/2030 0.39
TREASURY NOTE 1.875 02/15/2032 0.28
SPAIN (KINGDOM OF) 3.45 07/30/2066 0.23
TREASURY BOND 1.75 08/15/2041 0.17
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-May-2022

% of Net Assets

Type Fund Benchmark Net
Allocations subject to change.
as of 31-May-2022

% of Net Assets

Type Fund Benchmark Net
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 country where the issuer of the securities carries out much of their business.
as of 31-May-2022

% of Market Value

Type Fund Benchmark Net
as of 31-May-2022

% of Market Value

Type Fund Benchmark Net
as of 31-May-2022

% of Net Assets

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.

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class A4 Hedged EUR Annual 35.52 -0.47 -1.31 05-Jul-2022 44.42 35.52 LU0240613025 -
Class A2 Hedged EUR None 38.22 -0.52 -1.34 05-Jul-2022 47.80 38.22 LU0212925753 -
Class A2 EUR None 62.25 0.31 0.50 05-Jul-2022 69.28 60.99 LU0171283459 -
Class A9 USD - 8.11 -0.10 -1.22 05-Jul-2022 10.14 8.11 LU2354320561 -
Class D4 GBP Annual 52.64 0.15 0.29 05-Jul-2022 57.33 51.60 LU1852330908 -
Class A4 EUR Annual 60.52 0.29 0.48 05-Jul-2022 67.36 59.29 LU0408221512 -
Class I2 EUR None 69.69 0.35 0.50 05-Jul-2022 77.10 68.25 LU1653088838 -
Class I2 Hedged EUR None 42.37 -0.56 -1.30 05-Jul-2022 52.65 42.37 LU0368231949 -
Class D4 EUR Annual 61.32 0.30 0.49 05-Jul-2022 67.94 60.06 LU0827880005 -
Class A2 Hedged GBP None 31.80 -0.43 -1.33 05-Jul-2022 39.46 31.80 LU0236177068 -
Class A2 USD None 63.88 -0.82 -1.27 05-Jul-2022 78.71 63.88 LU0072462426 -
Class D4 Hedged EUR Annual 35.97 -0.48 -1.32 05-Jul-2022 44.76 35.97 LU0827880773 -
Class D2 EUR None 69.47 0.34 0.49 05-Jul-2022 76.96 68.04 LU0523293024 -
Class D2 Hedged GBP None 34.19 -0.46 -1.33 05-Jul-2022 42.22 34.19 LU0827880344 -
Class D2 Hedged EUR None 42.66 -0.57 -1.32 05-Jul-2022 53.09 42.66 LU0329591480 -
Class D2 USD None 71.29 -0.92 -1.27 05-Jul-2022 87.42 71.29 LU0329592538 -
Class A4 USD Annual 62.10 -0.81 -1.29 05-Jul-2022 76.53 62.10 LU0724617625 -
Class I2 USD None 71.51 -0.92 -1.27 05-Jul-2022 87.57 71.51 LU0368249560 -

Portfolio Managers

Portfolio Managers

Rick Rieder
Portfolio Manager, BlackRock’s Green Bond Mandates

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income.

David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Literature

Literature