BGF Global Allocation Fund

Multi Asset

BGF 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
30-Sep-2014
To
30-Sep-2015		 From
30-Sep-2015
To
30-Sep-2016		 From
30-Sep-2016
To
30-Sep-2017		 From
30-Sep-2017
To
30-Sep-2018		 From
30-Sep-2018
To
30-Sep-2019
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 30-Sep-19

-6.66 5.15 8.47 0.41 0.36
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 30-Sep-19

-2.97 10.65 10.08 6.24 4.98

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

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 602
Size of Fund (Millions) as of 06-Dec-19 USD 14,317.192
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. 3.02%
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 - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 22-Apr-19)

Holdings

Holdings

as of 31-Oct-19
Name Weight (%)
MICROSOFT CORP 1.86
APPLE INC 1.70
ALPHABET INC CLASS C 1.60
JPMORGAN CHASE & CO 1.19
AMAZON COM INC 1.18
Name Weight (%)
RAYTHEON 0.92
COMCAST CORP CLASS A 0.92
UNITEDHEALTH GROUP INC 0.82
SIEMENS N AG 0.79
ANTHEM INC 0.78
as of 31-Oct-19
Name Weight (%)
TREASURY (CPI) NOTE 0.5 04/15/2024 4.42
TREASURY NOTE 2.375 05/15/2029 3.27
UMBS 30YR TBA(REG A) 3.14
TREASURY NOTE 1.875 07/31/2026 2.07
CANADA (GOVERNMENT OF) 1.5 09/01/2024 1.27
Name Weight (%)
TREASURY NOTE 1.875 06/30/2026 1.15
TREASURY BOND 2.25 08/15/2049 0.93
ITALY (REPUBLIC OF) 3 08/01/2029 0.89
SPAIN (KINGDOM OF) 0.6 10/31/2029 0.74
ITALY (REPUBLIC OF) 3.85 09/01/2049 0.49
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-19

% of Net Assets

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

% of Net Assets

Type Fund Benchmark Net
as of 31-Oct-19

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-19

% of Market Value

Type Fund Benchmark Net
as of 31-Oct-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 45.63 0.20 0.44 45.70 39.86 - LU0147395726 - -
Class A4 EUR Annual 52.38 0.44 0.85 52.70 43.93 - LU0408221512 - -
Class D4 EUR Annual 52.54 0.44 0.84 52.85 44.07 - LU0827880005 - -
Class X2 EUR None 66.16 0.56 0.85 66.53 54.38 - LU0984173384 - -
Class A2 HUF None 17,798.07 131.08 0.74 18,215.53 14,454.58 - LU0566074125 - -
Class D2 Hedged SGD None 14.86 0.06 0.41 14.88 12.84 - LU0827880690 - -
Class A2 Hedged PLN None 17.09 0.07 0.41 17.12 14.90 - LU0480534592 - -
Class C2 Hedged EUR None 28.55 0.12 0.42 28.61 25.66 - LU0212926058 - -
Class E2 USD None 54.54 0.24 0.44 54.62 47.31 - LU0147396450 - -
Class C2 EUR None 41.27 0.35 0.86 41.53 34.88 - LU0331284793 - -
Class X2 Hedged AUD None 20.76 0.09 0.44 20.79 17.82 - LU0525289509 - -
Class X4 USD Annual 12.85 0.05 0.39 12.87 11.15 - LU0953392981 - -
Class D2 EUR None 58.97 0.49 0.84 59.32 48.91 - LU0523293024 - -
Class X2 Hedged EUR None 11.70 0.05 0.43 11.72 10.22 - LU0260352280 - -
Class D2 Hedged AUD None 18.69 0.09 0.48 18.71 16.19 - LU0827880187 - -
Class A2 Hedged AUD None 17.71 0.08 0.45 17.74 15.44 - LU0468326631 - -
Class I2 EUR None 58.84 0.50 0.86 59.18 48.70 - LU1653088838 - -
Class E2 Hedged PLN None 16.34 0.08 0.49 16.36 14.31 - LU0530192003 - -
Class E2 EUR None 49.33 0.42 0.86 49.63 41.39 - LU0171283533 - -
Class D2 Hedged CHF None 12.85 0.06 0.47 12.87 11.37 - LU0827880260 - -
Class E2 Hedged EUR None 35.54 0.15 0.42 35.61 31.71 - LU0212926132 - -
Class A2 Hedged CHF None 12.16 0.05 0.41 12.19 10.84 - LU0343169966 - -
Class D2 Hedged PLN None 18.05 0.08 0.45 18.07 15.62 - LU0827880427 - -
Class A4 USD Annual 57.92 0.26 0.45 57.99 50.20 - LU0724617625 - -
Class D2 Hedged GBP None 32.18 0.14 0.44 32.23 28.12 - LU0827880344 - -
Class I2 Hedged EUR None 40.28 0.17 0.42 40.35 35.45 - LU0368231949 - -
Class X2 Hedged JPY None 1,152.00 5.00 0.44 1,154.00 1,005.00 - LU1445720094 - -
Class A2 Hedged HKD None 14.22 0.06 0.42 14.24 12.35 - LU0788109477 - -
Class A4 Hedged EUR Annual 34.61 0.15 0.44 34.68 30.87 - LU0240613025 - -
Class D4 Hedged EUR Annual 34.70 0.15 0.43 34.76 30.96 - LU0827880773 - -
Class I2 USD None 65.06 0.29 0.45 65.13 55.66 - LU0368249560 - -
Class I2 Hedged SGD None 14.93 0.07 0.47 14.95 12.87 - LU0810842038 - -
Class AI2 EUR - 10.65 0.00 0.00 10.81 9.84 - LU1960222104 - -
Class A2 Hedged CNH None 135.04 0.59 0.44 135.19 116.57 - LU1062906877 - -
Class A2 Hedged GBP None 30.51 0.13 0.43 30.56 26.85 - LU0236177068 - -
Class A2 Hedged EUR None 37.25 0.16 0.43 37.32 33.08 - LU0212925753 - -
Class A2 USD None 59.57 0.26 0.44 59.65 51.42 - LU0072462426 - -
Class A2 EUR None 53.87 0.45 0.84 54.20 45.00 - LU0171283459 - -
Class J2 USD None 73.64 0.32 0.44 73.71 62.56 - LU0304953069 - -
Class D4 GBP None 44.27 0.29 0.66 46.53 39.82 - LU1852330908 - -
Class D2 Hedged EUR None 40.78 0.18 0.44 40.85 35.96 - LU0329591480 - -
Class D2 USD None 65.21 0.29 0.45 65.28 55.90 - LU0329592538 - -
Class AI2 Hedged EUR - 10.32 -0.01 -0.10 10.38 9.74 - LU1960222286 - -
Class X2 USD None 73.16 0.33 0.45 73.22 62.14 - LU0328507826 - -
Class A2 Hedged SGD None 14.01 0.06 0.43 14.03 12.18 - LU0308772762 - -

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Dan Chamby
Dan Chamby
David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Literature

Literature