Multi Asset

BGF Global Allocation Fund

  • NAV as of 16-Apr-21 USD 57.53
    52 WK: 42.60 - 57.53
  • 1 Day NAV Change as of 16-Apr-21 0.24 (0.42%)
  • 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. 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

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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-2016
To
31-Mar-2017		 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
Total Return (%)

as of 31-Mar-21

6.83 5.56 -2.20 -5.48 37.09
  1y 3y 5y 10y Incept.
Total Return (%)

as of 31-Mar-21

37.09 8.22 7.40 4.18 5.35
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%)

as of 31-Mar-21

1.43 0.56 1.43 37.09 26.73 42.91 50.62 147.12

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 1049
Size of Fund (Millions) as of 16-Apr-21 USD 17,341.025
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
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 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

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 31-Mar-21 28.94
Average Market Cap (Millions) as of 31-Mar-21 USD 305,787.84
Effective Duration as of 31-Mar-21 -0.06
Effective Duration Fixed Income as of 31-Mar-21 -0.07
Effective Duration Fixed Income and Cash as of 31-Mar-21 0.00

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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 - -
MSCI - UN Global Compact Violators as of - -
MSCI - Nuclear Weapons as of - -
MSCI - Thermal Coal as of - -
MSCI - Civilian Firearms as of - -
MSCI - Oil Sands as of - -
MSCI - Tobacco as of - -
Business Involvement Coverage as of - -
Percentage of Fund not covered as of - -
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 -% and for Oil Sands -%.

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

4
Overall Morningstar Rating for BGF Global Allocation Fund, Class C2, as of 31-Mar-21 rated against 778 USD Moderate Allocation Funds.

Holdings

Holdings

as of 31-Mar-21
Name Weight (%)
SPDR S&P ETF TRUST 4.54
MICROSOFT CORP 2.18
APPLE INC 1.84
ALPHABET INC CLASS C 1.61
AMAZON COM INC 1.33
Name Weight (%)
BANK OF AMERICA CORP 1.32
JPMORGAN CHASE & CO 1.16
JOHNSON & JOHNSON 1.06
UNITEDHEALTH GROUP INC 0.95
MASTERCARD INC CLASS A 0.89
as of 31-Mar-21
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 1.24
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.29 05/23/2029 1.22
JAPAN (GOVERNMENT OF) 30YR #64 0.4 09/20/2049 0.71
ITALY (REPUBLIC OF) 1.35 04/01/2030 0.62
AUSTRALIA (COMMONWEALTH OF) 3 03/21/2047 0.56
Name Weight (%)
ITALY (REPUBLIC OF) 0.95 08/01/2030 0.49
ITALY (REPUBLIC OF) 3.85 09/01/2049 0.43
TREASURY BOND 1.125 08/15/2040 0.37
TREASURY (CPI) NOTE 0.125 01/15/2030 0.28
ISHARES $ HIGH YIELD CRP BND ETF $ 0.25
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31-Mar-21

% of Net Assets

Type Fund Benchmark Net
Allocations subject to change.
as of 31-Mar-21

% of Net Assets

Type Fund Benchmark Net
as of 31-Mar-21

% of Market Value

Type Fund Benchmark Net
as of 31-Mar-21

% of Market Value

Type Fund Benchmark Net
as of 31-Mar-21

% 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 57.53 0.24 0.42 57.53 42.60 - LU0147395726 - -
Class D2 EUR None 70.52 0.28 0.40 70.52 56.37 - LU0523293024 - -
Class I2 EUR None 70.56 0.29 0.41 70.56 56.28 - LU1653088838 - -
Class E2 USD None 69.47 0.30 0.43 69.47 51.06 - LU0147396450 - -
Class C2 Hedged EUR None 35.15 0.15 0.43 35.15 26.34 - LU0212926058 - -
Class C2 EUR None 48.03 0.19 0.40 48.03 39.16 - LU0331284793 - -
Class X2 Hedged AUD None 26.61 0.12 0.45 26.61 19.29 - LU0525289509 - -
Class X2 Hedged EUR None 15.00 0.06 0.40 15.00 10.91 - LU0260352280 - -
Class X2 EUR None 80.15 0.32 0.40 80.15 63.45 - LU0984173384 - -
Class A4 EUR Annual 62.00 0.25 0.40 62.00 49.93 - LU0408221512 - -
Class X4 USD Annual 16.65 0.07 0.42 16.65 12.13 - LU0953392981 - -
Class A2 Hedged PLN None 21.61 0.09 0.42 21.61 15.89 - LU0480534592 - -
Class D4 EUR Annual 62.54 0.25 0.40 62.54 50.21 - LU0827880005 - -
Class D2 Hedged AUD None 23.64 0.11 0.47 23.64 17.30 - LU0827880187 - -
Class A2 Hedged AUD None 22.17 0.09 0.41 22.17 16.35 - LU0468326631 - -
Class D2 Hedged SGD None 19.04 0.08 0.42 19.04 13.87 - LU0827880690 - -
Class E2 EUR None 57.99 0.23 0.40 57.99 46.93 - LU0171283533 - -
Class D2 Hedged CHF None 16.23 0.07 0.43 16.23 11.93 - LU0827880260 - -
Class A2 Hedged CHF None 15.21 0.06 0.40 15.21 11.27 - LU0343169966 - -
Class E2 Hedged PLN None 20.52 0.09 0.44 20.52 15.16 - LU0530192003 - -
Class A2 HUF None 23,025.52 221.06 0.97 23,092.32 17,991.56 - LU0566074125 - -
Class I2 Hedged EUR None 51.10 0.22 0.43 51.10 37.46 - LU0368231949 - -
Class A4 USD Annual 74.27 0.32 0.43 74.27 54.31 - LU0724617625 - -
Class I2 USD None 84.52 0.36 0.43 84.52 61.22 - LU0368249560 - -
Class E2 Hedged EUR None 44.20 0.19 0.43 44.20 32.87 - LU0212926132 - -
Class A2 Hedged CNH None 176.65 0.78 0.44 176.65 126.87 - LU1062906877 - -
Class I2 Hedged SGD None 19.16 0.09 0.47 19.16 13.94 - LU0810842038 - -
Class D4 Hedged EUR Annual 43.70 0.19 0.44 43.70 32.25 - LU0827880773 - -
Class A2 Hedged HKD None 18.22 0.08 0.44 18.22 13.32 - LU0788109477 - -
Class A2 USD None 76.39 0.33 0.43 76.39 55.86 - LU0072462426 - -
Class A4 Hedged EUR Annual 43.34 0.19 0.44 43.34 32.08 - LU0240613025 - -
Class D4 GBP Annual 54.32 0.21 0.39 54.32 43.68 - LU1852330908 - -
Class A2 Hedged GBP None 38.38 0.16 0.42 38.38 28.23 - LU0236177068 - -
Class D2 Hedged EUR None 51.58 0.22 0.43 51.58 37.89 - LU0329591480 - -
Class AI2 Hedged EUR - 12.98 0.06 0.46 12.98 9.60 - LU1960222286 - -
Class X2 Hedged JPY None 1,493.00 6.00 0.40 1,493.00 1,080.00 - LU1445720094 - -
Class D2 Hedged PLN None 23.05 0.10 0.44 23.05 16.82 - LU0827880427 - -
Class A2 Hedged EUR None 46.64 0.20 0.43 46.64 34.52 - LU0212925753 - -
Class D2 Hedged GBP None 40.89 0.17 0.42 40.89 29.86 - LU0827880344 - -
Class A2 Hedged SGD None 17.77 0.08 0.45 17.77 13.03 - LU0308772762 - -
Class J2 USD None 96.65 0.42 0.44 96.65 69.49 - LU0304953069 - -
Class X2 USD None 96.02 0.42 0.44 96.02 69.03 - LU0328507826 - -
Class AI2 EUR - 12.72 0.05 0.39 12.72 10.24 - LU1960222104 - -
Class A2 EUR None 63.77 0.26 0.41 63.77 51.35 - LU0171283459 - -
Class D2 USD None 84.48 0.37 0.44 84.48 61.32 - LU0329592538 - -

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