Multi Asset

BGF Global Allocation Fund

  • NAV as of 20-May-22 USD 49.71
    52 WK: 48.63 - 58.86
  • 1 Day NAV Change as of 20-May-22 0.42 (0.85%)
  • Morningstar Rating

Overview

Investment Approach

The Global Allocation Fund seeks to maximise total return. The Fund invests globally in equity, debt and short term securities, of both corporate and governmental issuers, with no prescribed limits. In normal market conditions the Fund will invest at least 70% of its total assets in the securities of corporate and governmental issuers. The Fund generally will seek to invest in securities that are, in the opinion of the Investment Adviser, undervalued. The Fund may also invest in the equity securities of small and emerging growth companies. The Fund may also invest a portion of its debt portfolio in high yield fixed income transferable securities. Currency exposure is flexibly managed.

Important Information: 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

Chart

Performance chart data not available for display.
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Share Class and Benchmark performance displayed in USD. Source: BlackRock. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested. Source: BlackRock. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product.

Reinvestments

This product does not have any distributions data as of now.
Record Date Ex-Date Payable Date Total Distribution
  From
31-Mar-2017
To
31-Mar-2018		 From
31-Mar-2018
To
31-Mar-2019		 From
31-Mar-2019
To
31-Mar-2020		 From
31-Mar-2020
To
31-Mar-2021		 From
31-Mar-2021
To
31-Mar-2022
Total Return (%)

as of 31-Mar-22

5.56 -2.20 -5.48 37.09 -3.15
  1y 3y 5y 10y Incept.
Total Return (%)

as of 30-Apr-22

-11.26 5.48 4.01 3.65 4.56
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%)

as of 30-Apr-22

-11.04 -4.97 -6.12 -11.26 17.35 21.74 43.06 127.43

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in USD, 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

Number of Issuers 1100
Size of Fund (Millions) as of 20-May-22 USD 15,756.517
12m Trailing Yield -
Base Currency U.S. Dollar
Fund Launch Date 03-Jan-97
Series Currency U.S. Dollar
Inception Date 24-Nov-03
Asset Class Multi Asset
Morningstar Category USD Moderate Allocation
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 3.03%
ISIN LU0147395726
Bloomberg Ticker MGLOACA
Initial Charge 0.00%
Performance Fee 0.00%
SEDOL 7506653
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment USD 5,000.00
Minimum Subsequent Investment USD 1,000.00
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 29-Apr-22 19.06
Average Market Cap (Millions) as of 29-Apr-22 USD 337,475.13
Effective Duration as of 29-Apr-22 0.23
Effective Duration Fixed Income as of 29-Apr-22 1.18
Effective Duration Fixed Income and Cash as of 29-Apr-22 0.54

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 06-May-22 A
MSCI ESG % Coverage as of 06-May-22 77.13
MSCI ESG Quality Score (0-10) as of 06-May-22 7.06
MSCI ESG Quality Score - Peer Percentile as of 06-May-22 71.79
Fund Lipper Global Classification as of 06-May-22 Mixed Asset USD Bal - Global
Funds in Peer Group as of 06-May-22 195
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 06-May-22 156.60
MSCI Weighted Average Carbon Intensity % Coverage as of 06-May-22 58.69
All data is from MSCI ESG Fund Ratings as of 06-May-22, based on holdings as of 30-Nov-21. 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 29-Apr-22 0.02%
MSCI - UN Global Compact Violators as of 29-Apr-22 0.98%
MSCI - Nuclear Weapons as of 29-Apr-22 0.02%
MSCI - Thermal Coal as of 29-Apr-22 0.01%
MSCI - Civilian Firearms as of 29-Apr-22 0.05%
MSCI - Oil Sands as of 29-Apr-22 0.37%
MSCI - Tobacco as of 29-Apr-22 0.00%
Business Involvement Coverage as of 29-Apr-22 52.49%
Percentage of Fund not covered as of 29-Apr-22 47.49%
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 0.55% and for Oil Sands 2.07%.

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

1
2
3
4
5
6
7
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 C2, as of 30-Apr-22 rated against 929 USD Moderate Allocation Funds.

Holdings

Holdings

as of 29-Apr-22
Name Weight (%)
MICROSOFT CORP 2.19
APPLE INC 1.79
ALPHABET INC CLASS C 1.41
AMAZON COM INC 1.35
UNITEDHEALTH GROUP INC 1.08
Name Weight (%)
CONOCOPHILLIPS 1.00
MASTERCARD INC CLASS A 0.83
ENBRIDGE INC 0.76
SIEMENS N AG 0.73
ABBOTT LABORATORIES 0.67
as of 29-Apr-22
Name Weight (%)
TREASURY NOTE 2.5 04/30/2024 7.03
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.19
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.71
TREASURY BOND 2.25 02/15/2052 0.65
CANADA (GOVERNMENT OF) 0.25 03/01/2026 0.46
Name Weight (%)
ITALY (REPUBLIC OF) 0.95 08/01/2030 0.39
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2024 0.39
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 0.29
TREASURY NOTE 1.875 02/15/2032 0.27
SPAIN (KINGDOM OF) 3.45 07/30/2066 0.24
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29-Apr-22

% of Net Assets

Type Fund Benchmark Net
Allocations subject to change.
as of 29-Apr-22

% 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 29-Apr-22

% of Market Value

Type Fund Benchmark Net
as of 29-Apr-22

% of Market Value

Type Fund Benchmark Net
as of 29-Apr-22

% 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 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class C2 USD None 49.71 0.42 0.85 58.86 48.63 - LU0147395726 - -
Class A9 Hedged AUD - 8.47 0.07 0.83 10.13 8.28 - LU2354320728 - -
Class A9 Hedged SGD - 8.52 0.07 0.83 10.14 8.33 - LU2354320645 - -
Class A2 Hedged EUR None 40.19 0.34 0.85 47.80 39.31 - LU0212925753 - -
Class A2 Hedged GBP None 33.39 0.29 0.88 39.46 32.65 - LU0236177068 - -
Class D2 Hedged EUR None 44.82 0.39 0.88 53.09 43.82 - LU0329591480 - -
Class AI2 EUR - 12.63 0.10 0.80 13.82 12.47 - LU1960222104 - -
Class D2 USD None 74.61 0.64 0.87 87.42 72.95 - LU0329592538 - -
Class AI2 Hedged EUR - 11.18 0.09 0.81 13.30 10.93 - LU1960222286 - -
Class J2 USD None 86.27 0.75 0.88 100.56 84.33 - LU0304953069 - -
Class A2 EUR None 63.35 0.53 0.84 69.28 62.55 - LU0171283459 - -
Class A9 USD - 8.55 0.08 0.94 10.14 8.36 - LU2354320561 - -
Class X2 USD None 85.70 0.74 0.87 99.90 83.78 - LU0328507826 - -
Class D4 GBP Annual 52.74 0.49 0.94 57.33 51.72 - LU1852330908 - -
Class C2 Hedged EUR None 29.88 0.26 0.88 35.81 29.23 - LU0212926058 - -
Class D2 Hedged AUD None 20.66 0.18 0.88 24.38 20.20 - LU0827880187 - -
Class I2 EUR None 70.84 0.60 0.85 77.10 69.28 - LU1653088838 - -
Class D2 Hedged CHF None 14.12 0.12 0.86 16.68 13.80 - LU0827880260 - -
Class E2 EUR None 57.30 0.48 0.84 62.82 56.82 - LU0171283533 - -
Class X2 Hedged EUR None 13.17 0.12 0.92 15.52 12.87 - LU0260352280 - -
Class E2 USD None 60.52 0.52 0.87 71.38 59.19 - LU0147396450 - -
Class D2 Hedged SGD None 16.76 0.15 0.90 19.69 16.38 - LU0827880690 - -
Class A4 Hedged EUR Annual 37.35 0.32 0.86 44.42 36.52 - LU0240613025 - -
Class X4 USD Annual 14.66 0.13 0.89 17.14 14.33 - LU0953392981 - -
Class X2 Hedged JPY None 1,327.00 11.00 0.84 1,552.00 1,297.00 - LU1445720094 - -
Class D2 Hedged PLN None 20.36 0.17 0.84 23.78 19.88 - LU0827880427 - -
Class X2 EUR None 81.13 0.68 0.85 87.98 78.75 - LU0984173384 - -
Class D4 EUR Annual 62.35 0.52 0.84 67.94 61.39 - LU0827880005 - -
Class E2 Hedged EUR None 37.88 0.33 0.88 45.17 37.05 - LU0212926132 - -
Class I2 USD None 74.82 0.64 0.86 87.57 73.16 - LU0368249560 - -
Class D4 Hedged EUR Annual 37.79 0.33 0.88 44.76 36.95 - LU0827880773 - -
Class C2 EUR None 47.06 0.39 0.84 51.80 46.67 - LU0331284793 - -
Class A2 Hedged HKD None 15.92 0.14 0.89 18.76 15.57 - LU0788109477 - -
Class A4 USD Annual 65.06 0.56 0.87 76.53 63.63 - LU0724617625 - -
Class I2 Hedged SGD None 16.79 0.14 0.84 19.77 16.42 - LU0810842038 - -
Class I2 Hedged EUR None 44.50 0.39 0.88 52.65 43.51 - LU0368231949 - -
Class A2 Hedged CNH None 158.24 1.34 0.85 184.45 154.66 - LU1062906877 - -
Class D2 EUR None 70.64 0.60 0.86 76.96 69.23 - LU0523293024 - -
Class A2 USD None 66.92 0.58 0.87 78.71 65.44 - LU0072462426 - -
Class A2 Hedged PLN None 18.93 0.16 0.85 22.20 18.49 - LU0480534592 - -
Class A2 Hedged CHF None 13.12 0.11 0.85 15.57 12.83 - LU0343169966 - -
Class A4 EUR Annual 61.59 0.51 0.83 67.36 60.82 - LU0408221512 - -
Class E2 Hedged PLN None 17.87 0.15 0.85 21.01 17.46 - LU0530192003 - -
Class A2 HUF None 24,254.25 118.33 0.49 25,578.64 21,880.83 - LU0566074125 - -
Class A2 Hedged AUD None 19.22 0.17 0.89 22.77 18.79 - LU0468326631 - -
Class X2 Hedged AUD None 23.50 0.20 0.86 27.59 22.97 - LU0525289509 - -
Class A2 Hedged SGD None 15.50 0.13 0.85 18.29 15.16 - LU0308772762 - -
Class D2 Hedged GBP None 35.87 0.31 0.87 42.22 35.07 - LU0827880344 - -

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Portfolio Manager, BlackRock’s Green Bond Mandates

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

Read More

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Global Allocation Investment Team in the Multi-Asset Strategies Group, a member of BlackRock's Global Operating Committee and Chairman of the firm-wide BlackRock Investment Council. Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and is currently a member of the Federal Reserve Bank of New York's Investment Advisory Committee on Financial Markets.

 

David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Literature

Literature