Global Allocation Fund

Multi Asset

Global Allocation Fund

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. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

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

  • Returns

  From
31-Dec-2013
To
31-Dec-2014		 From
31-Dec-2014
To
31-Dec-2015		 From
31-Dec-2015
To
31-Dec-2016		 From
31-Dec-2016
To
31-Dec-2017		 From
31-Dec-2017
To
31-Dec-2018
Total Return (%) Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.

as of 31-Dec-18

0.32 -3.47 1.95 11.45 -10.01
Benchmark (%) Index: 36% S&P 500, 24% FTSE World (ex.US), 24% ICE BofA ML Cur 5-yr US Treasury, 16% FTSE Non-USD WGBI<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

as of 31-Dec-18

4.17 -0.78 6.06 15.69 -4.68

The figures shown relate to past performance. Past performance is not a reliable indicator of 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 fund 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

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

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable Date Total Distribution

Key Facts

Key Facts

Number of Issuers 598
Size of Fund (Millions) as of 15-Feb-19 USD 15,451.760
12m Trailing Yield The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months. -
Base Currency USD
Fund Launch Date 03-Jan-97
Series Currency USD
Inception Date 24-Nov-03
Asset Class Multi Asset
Morningstar Category USD Moderate Allocation
Benchmark Index 36% S&P 500, 24% FTSE World (ex.US), 24% ICE BofA ML Cur 5-yr US Treasury, 16% FTSE Non-USD WGBI
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures Ongoing Charges Figure (OCF)- this is a measure of the total costs associated with managing and operating an investment fund. These costs consist primarily of management fees and other expenses such as trustee, custody, transaction and registration fees and other operating expenses. The total cost for the fund is divided by the fund’s total assets and expressed as a percentage which represents the OCF. 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 5000
Minimum Subsequent Investment USD 1000
Use of Income Accumulating

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Analyst Rating

Morningstar Analyst Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 11-Jun-18)

Holdings

Holdings

as of 31-Jan-19
Name Weight (%)
ALPHABET INC CLASS C 1.52
JOHNSON & JOHNSON 1.14
APPLE INC 1.12
COMCAST CORP CLASS A 1.11
EXXON MOBIL CORP 1.00
Name Weight (%)
ANTHEM INC 1.00
WILLIAMS INC 0.92
AMAZON COM INC 0.92
MICROSOFT CORP 0.90
NESTLE SA 0.90
as of 31-Jan-19
Name Weight (%)
TREASURY NOTE 2.875 10/31/2023 6.66
TREASURY NOTE 2.875 09/30/2023 6.22
TREASURY NOTE 3 10/31/2025 3.17
TREASURY NOTE (2OLD) 2.875 11/30/2025 2.18
TREASURY (CPI) NOTE 0.625 04/15/2023 1.58
Name Weight (%)
TREASURY NOTE 2.75 08/31/2023 1.26
GERMANY (FEDERAL REPUBLIC OF) RegS 0.5 02/15/2028 0.85
ARGENTINA REPUBLIC OF GOVERNMENT 5.875 01/11/2028 0.35
MANDATORY EXCHANGEABLE SPONSORED A 144A 5.75 06/01/2019 0.28
ARGENTINA REPUBLIC OF GOVERNMENT MTN 6.875 01/26/2027 0.26
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Jan-19

% of Net Assets

Type Fund Benchmark Net
Allocations subject to change.
as of 31-Jan-19

% of Net Assets

Type Fund Benchmark Net
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% of Market Value

Type Fund Benchmark Net
as of 31-Jan-19

% 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 42.64 0.17 0.40 45.42 39.86 - LU0147395726 - -
Class C2 Hedged EUR None 27.33 0.11 0.40 30.01 25.66 - LU0212926058 - -
Class E2 Hedged PLN None 15.31 0.07 0.46 16.37 14.31 - LU0530192003 - -
Class X2 Hedged AUD None 19.13 0.08 0.42 19.94 17.82 - LU0525289509 - -
Class D2 Hedged AUD None 17.35 0.07 0.41 18.26 16.19 - LU0827880187 - -
Class E2 EUR None 44.96 0.29 0.65 45.71 41.39 - LU0171283533 - -
Class X2 EUR None 59.24 0.38 0.65 59.54 54.26 - LU0984173384 - -
Class D2 Hedged CHF None 12.14 0.05 0.41 13.12 11.37 - LU0827880260 - -
Class A2 Hedged AUD None 16.54 0.07 0.43 17.53 15.44 - LU0468326631 - -
Class X4 USD Annual 11.97 0.05 0.42 12.63 11.15 - LU0953392981 - -
Class D2 Hedged GBP None 30.07 0.12 0.40 32.05 28.12 - LU0827880344 - -
Class D2 EUR None 53.22 0.35 0.66 53.75 48.91 - LU0523293024 - -
Class I2 EUR None 53.00 0.34 0.65 53.48 48.70 - LU1653088838 - -
Class E2 USD None 50.67 0.21 0.42 53.58 47.31 - LU0147396450 - -
Class A2 HUF None 15,561.51 44.96 0.29 16,044.32 14,191.30 - LU0566074125 - -
Class D4 EUR Annual 47.94 0.30 0.63 48.89 44.07 - LU0827880005 - -
Class D2 Hedged PLN None 16.74 0.07 0.42 17.69 15.62 - LU0827880427 - -
Class X2 Hedged EUR None 10.94 0.05 0.46 11.67 10.22 - LU0260352280 - -
Class C2 EUR None 37.84 0.24 0.64 38.62 34.88 - LU0331284793 - -
Class D2 Hedged SGD None 13.75 0.06 0.44 14.53 12.84 - LU0827880690 - -
Class A4 EUR Annual 47.75 0.31 0.65 48.51 43.93 - LU0408221512 - -
Class I2 USD None 59.73 0.25 0.42 62.28 55.66 - LU0368249560 - -
Class A2 Hedged CHF None 11.56 0.04 0.35 12.58 10.84 - LU0343169966 - -
Class I2 Hedged EUR None 37.88 0.16 0.42 40.72 35.45 - LU0368231949 - -
Class E2 Hedged EUR None 33.81 0.14 0.42 36.87 31.71 - LU0212926132 - -
Class A2 Hedged PLN None 15.95 0.06 0.38 16.98 14.90 - LU0480534592 - -
Class D4 Hedged EUR Annual 33.07 0.14 0.43 35.97 30.96 - LU0827880773 - -
Class A4 USD Annual 53.80 0.22 0.41 56.74 50.20 - LU0724617625 - -
Class X2 Hedged JPY None 1,074.00 4.00 0.37 1,143.00 1,005.00 - LU1445720094 - -
Class A2 Hedged EUR None 35.30 0.15 0.43 38.30 33.08 - LU0212925753 - -
Class I2 Hedged SGD None 13.79 0.06 0.44 14.53 12.87 - LU0810842038 - -
Class A2 Hedged CNH None 124.85 0.50 0.40 130.31 116.57 - LU1062906877 - -
Class A2 Hedged HKD None 13.21 0.05 0.38 14.06 12.35 - LU0788109477 - -
Class A2 EUR None 48.91 0.32 0.66 49.59 45.00 - LU0171283459 - -
Class A4 Hedged EUR Annual 32.94 0.14 0.43 35.82 30.87 - LU0240613025 - -
Class A2 USD None 55.11 0.22 0.40 58.00 51.42 - LU0072462426 - -
Class D2 USD None 59.97 0.25 0.42 62.65 55.90 - LU0329592538 - -
Class D4 GBP None 42.15 0.07 0.17 43.84 39.82 - LU1852330908 - -
Class J2 USD None 67.20 0.28 0.42 69.56 62.56 - LU0304953069 - -
Class A2 Hedged SGD None 13.04 0.06 0.46 13.87 12.18 - LU0308772762 - -
Class D2 Hedged EUR None 38.41 0.16 0.42 41.38 35.96 - LU0329591480 - -
Class X2 USD None 66.76 0.28 0.42 69.11 62.14 - LU0328507826 - -
Class A2 Hedged GBP None 28.68 0.11 0.39 30.79 26.85 - LU0236177068 - -

Portfolio Managers

Portfolio Managers

Dan Chamby
Dan Chamby
David Clayton
David Clayton
Kent Hogshire
Kent Hogshire
Russ Koesterich
Russ Koesterich

Literature

Literature