Multi Asset

BGF Global Allocation Fund

  • NAV as of 05-Mar-21 GBP 36.50
    52 WK: 24.78 - 38.07
  • 1 Day NAV Change as of 05-Mar-21 -0.34 (-0.92%)
  • 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 performance displayed in GBP and Benchmark performance displayed in USD. Source: BlackRock. Performance is shown on a net asset value basis, with gross income reinvested. Past performance is not a guide to future performance.

Reinvestments

This product does not have any distributions data as of now.
Record Date Ex-Date Payable Date Total Distribution
  From
31-Dec-2015
To
31-Dec-2016		 From
31-Dec-2016
To
31-Dec-2017		 From
31-Dec-2017
To
31-Dec-2018		 From
31-Dec-2018
To
31-Dec-2019		 From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of 31-Dec-20

2.51 11.40 -10.76 14.41 17.71
Benchmark (%)

as of 31-Dec-20

6.06 15.69 -4.68 18.79 13.34
  1y 3y 5y 10y Incept.
Total Return (%)

as of 28-Feb-21

25.76 6.56 7.81 4.62 4.96
Benchmark (%)

as of 28-Feb-21

18.73 8.38 10.00 7.17 6.78
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%)

as of 28-Feb-21

1.04 0.76 4.22 25.76 20.99 45.65 57.15 109.21
Benchmark (%)

as of 28-Feb-21

-0.05 0.78 3.09 18.73 27.30 61.03 99.95 171.93

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 GBP, 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 1014
Size of Fund (Millions) as of 05-Mar-21 USD 16,122.134
12m Trailing Yield -
Base Currency U.S. Dollar
Fund Launch Date 03-Jan-97
Series Currency British Pound
Inception Date 30-Nov-05
Asset Class Multi Asset
Morningstar Category GBP 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 1.77%
ISIN LU0236177068
Bloomberg Ticker MGAHGA2
Annual Management Fee 1.50%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B1RDHX0
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment GBP 5000
Minimum Subsequent Investment GBP 1000
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 29-Jan-21 25.79
Average Market Cap (Millions) as of 29-Jan-21 USD 326,938.21

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 Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’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
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7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3
Overall Morningstar Rating for BGF Global Allocation Fund, Class A2 Hedged, as of 28-Feb-21 rated against 1178 GBP Moderate Allocation Funds.
Ratings Report

Holdings

Holdings

as of 29-Jan-21
Name Weight (%)
APPLE INC 2.38
MICROSOFT CORP 2.09
ALPHABET INC CLASS C 1.55
AMAZON COM INC 1.50
TAIWAN SEMICONDUCTOR MANUFACTURING 1.04
Name Weight (%)
SIEMENS N AG 1.00
JOHNSON & JOHNSON 0.94
NEXTERA ENERGY INC 0.93
JPMORGAN CHASE & CO 0.90
BANK OF AMERICA CORP 0.85
as of 29-Jan-21
Name Weight (%)
ISHARES $ HIGH YIELD CRP BND ETF $ 1.78
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 1.29
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.29 05/23/2029 1.27
JAPAN (GOVERNMENT OF) 30YR #64 0.4 09/20/2049 0.77
ITALY (REPUBLIC OF) 1.35 04/01/2030 0.75
Name Weight (%)
AUSTRALIA (COMMONWEALTH OF) 3 03/21/2047 0.65
SPAIN (KINGDOM OF) 0.6 10/31/2029 0.64
ISHARES $ CORPORATE BOND UCITS ETF 0.62
ITALY (REPUBLIC OF) 0.95 08/01/2030 0.60
ITALY (REPUBLIC OF) 3.85 09/01/2049 0.55
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29-Jan-21

% of Net Assets

Type Fund Benchmark Net
Allocations subject to change.
as of 29-Jan-21

% of Net Assets

Type Fund Benchmark Net
as of 29-Jan-21

% of Market Value

Type Fund Benchmark Net
as of 29-Jan-21

% of Market Value

Type Fund Benchmark Net
as of 29-Jan-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 A2 Hedged GBP None 36.50 -0.34 -0.92 38.07 24.78 - LU0236177068 - -
Class C2 USD None 54.76 -0.51 -0.92 57.18 37.29 - LU0147395726 - -
Class A2 Hedged AUD None 21.09 -0.19 -0.89 21.99 14.33 - LU0468326631 - -
Class A2 Hedged PLN None 20.54 -0.20 -0.96 21.45 13.93 - LU0480534592 - -
Class C2 Hedged EUR None 33.48 -0.32 -0.95 34.97 23.12 - LU0212926058 - -
Class D4 EUR Annual 59.73 0.08 0.13 61.36 44.22 - LU0827880005 - -
Class X2 EUR None 76.47 0.11 0.14 78.52 55.85 - LU0984173384 - -
Class C2 EUR None 45.97 0.06 0.13 47.27 34.53 - LU0331284793 - -
Class A2 Hedged CHF None 14.47 -0.14 -0.96 15.12 9.88 - LU0343169966 - -
Class X2 Hedged AUD None 25.26 -0.23 -0.90 26.32 16.89 - LU0525289509 - -
Class E2 USD None 66.07 -0.61 -0.91 68.96 44.68 - LU0147396450 - -
Class X4 USD Annual 15.80 -0.14 -0.88 16.47 10.60 - LU0953392981 - -
Class A2 HUF None 22,414.04 198.92 0.90 22,498.05 15,897.45 - LU0566074125 - -
Class A4 EUR Annual 59.26 0.07 0.12 60.90 43.99 - LU0408221512 - -
Class I2 EUR None 67.37 0.09 0.13 69.20 49.55 - LU1653088838 - -
Class E2 Hedged PLN None 19.51 -0.19 -0.96 20.38 13.29 - LU0530192003 - -
Class X2 Hedged EUR None 14.24 -0.14 -0.97 14.85 9.56 - LU0260352280 - -
Class E2 EUR None 55.46 0.07 0.13 57.01 41.36 - LU0171283533 - -
Class D2 Hedged CHF None 15.43 -0.14 -0.90 16.11 10.46 - LU0827880260 - -
Class D2 EUR None 67.35 0.09 0.13 69.19 49.64 - LU0523293024 - -
Class D2 Hedged SGD None 18.09 -0.16 -0.88 18.87 12.15 - LU0827880690 - -
Class D2 Hedged AUD None 22.46 -0.21 -0.93 23.42 15.16 - LU0827880187 - -
Class I2 USD None 80.25 -0.74 -0.91 83.70 53.52 - LU0368249560 - -
Class X2 Hedged JPY None 1,416.00 -14.00 -0.98 1,478.00 946.00 - LU1445720094 - -
Class D2 Hedged GBP None 38.86 -0.36 -0.92 40.51 26.19 - LU0827880344 - -
Class A4 USD Annual 70.60 -0.65 -0.91 73.67 47.51 - LU0724617625 - -
Class A4 Hedged EUR Annual 41.23 -0.39 -0.94 43.04 28.13 - LU0240613025 - -
Class A2 Hedged EUR None 44.37 -0.42 -0.94 46.32 30.28 - LU0212925753 - -
Class E2 Hedged EUR None 42.07 -0.40 -0.94 43.92 28.84 - LU0212926132 - -
Class D2 Hedged PLN None 21.89 -0.21 -0.95 22.85 14.73 - LU0827880427 - -
Class J2 USD None 91.69 -0.84 -0.91 95.60 60.72 - LU0304953069 - -
Class A2 Hedged HKD None 17.32 -0.16 -0.92 18.08 11.65 - LU0788109477 - -
Class D4 GBP Annual 51.51 0.13 0.25 53.62 40.98 - LU1852330908 - -
Class I2 Hedged SGD None 18.20 -0.17 -0.93 18.99 12.21 - LU0810842038 - -
Class D4 Hedged EUR Annual 41.53 -0.39 -0.93 43.34 28.27 - LU0827880773 - -
Class AI2 EUR - 12.14 -0.09 -0.74 12.49 9.02 - LU1960222104 - -
Class I2 Hedged EUR None 48.56 -0.45 -0.92 50.66 32.83 - LU0368231949 - -
Class A2 Hedged CNH None 167.38 -1.56 -0.92 174.47 110.83 - LU1062906877 - -
Class A2 EUR None 60.96 0.08 0.13 62.64 45.24 - LU0171283459 - -
Class A2 USD None 72.61 -0.67 -0.91 75.77 48.87 - LU0072462426 - -
Class AI2 Hedged EUR - 12.46 -0.12 -0.95 12.89 8.42 - LU1960222286 - -
Class D2 Hedged EUR None 49.03 -0.46 -0.93 51.16 33.22 - LU0329591480 - -
Class D2 USD None 80.23 -0.74 -0.91 83.69 53.61 - LU0329592538 - -
Class A2 Hedged SGD None 16.89 -0.15 -0.88 17.62 11.43 - LU0308772762 - -
Class X2 USD None 91.09 -0.83 -0.90 94.97 60.32 - LU0328507826 - -

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