Multi Asset

BGF Global Allocation Fund

Overview

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All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

Performance

Performance

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Reinvestments

 
  1y 3y 5y 10y Incept.
6.11 6.34 11.46 8.71 8.72
0.81 4.54 10.32 8.16 8.30
Benchmark (%) 7.86 9.31 12.20 10.59 10.76
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
2.75 2.75 9.91 4.14 6.11 20.25 71.99 130.56 200.11
-2.39 -2.39 4.42 -1.06 0.81 14.24 63.39 119.03 185.10
Benchmark (%) 2.27 2.27 9.26 4.61 7.86 30.62 77.81 173.74 282.96
Performance of the Fund is calculated on NAV to NAV basis on the assumption that all dividends and distributions are reinvested, taking into account all charges which would have been payable upon such reinvestment.

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in HUF, 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

Net Assets of Fund as of 29-Feb-2024 USD 14,893,580,030
Share Class Inception Date 08-Dec-2010
Fund Inception 03-Jan-1997
Share Class Currency HUF
Fund Base Currency USD
Asset Class Multi Asset
SFDR Classification Other
Initial Charge 5.00%
ISIN LU0566074125
Management Fee (incl. Distribution Fee, if any) 1.50%
Performance Fee 0.00%
Minimum Initial Investment HUF 5000
Minimum Subsequent Investment HUF 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category USD Moderate Allocation
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGGAA2H
SEDOL B4MZRQ5
Benchmark 36%S&P500 24%FTSEWorldexUS 24%5YrUSTreasury 16%CitiNonUS Wrld GovBond (HUF)
MAS ESG Fund No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Jan-2024 1,171
3y Beta as of 31-Jan-2024 0.940
P/E Ratio 17.60
Average Market Cap (Millions) as of 31-Jan-2024 USD 431,486.10
Effective Duration as of 31-Jan-2024 1.67yrs
5Y Annualised Volatility as of 31-Jan-2024 11.19
Since Share Inception – Annualised Volatility as of 31-Jan-2024 10.57
Effective Duration Fixed Income as of 31-Jan-2024 5.67
Effective Duration Fixed Income and Cash as of 31-Jan-2024 4.10

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 21-Feb-2024 A
MSCI ESG % Coverage as of 21-Feb-2024 89.23
MSCI ESG Quality Score (0-10) as of 21-Feb-2024 6.60
MSCI ESG Quality Score - Peer Percentile as of 21-Feb-2024 65.90
Fund Lipper Global Classification as of 21-Feb-2024 Mixed Asset USD Bal - Global
Funds in Peer Group as of 21-Feb-2024 261
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Feb-2024 122.82
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Feb-2024 62.77
All data is from MSCI ESG Fund Ratings as of 21-Feb-2024, based on holdings as of 30-Sept-2023. 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% (or 50% for bond funds and money market funds) 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.

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 31-Jan-2024 0.00%
MSCI - UN Global Compact Violators as of 31-Jan-2024 0.43%
MSCI - Nuclear Weapons as of 31-Jan-2024 0.00%
MSCI - Thermal Coal as of 31-Jan-2024 0.34%
MSCI - Civilian Firearms as of 31-Jan-2024 0.00%
MSCI - Oil Sands as of 31-Jan-2024 0.34%
MSCI - Tobacco as of 31-Jan-2024 0.02%

Business Involvement Coverage as of 31-Jan-2024 69.32%
Percentage of Fund not covered as of 31-Jan-2024 30.68%
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 0.69% and for Oil Sands 2.20%.

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 financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or 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 relevant 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 the investment process. 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, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Holdings

Holdings

as of 31-Jan-2024
Name Weight (%)
MICROSOFT CORP 2.91
AMAZON COM INC 1.73
APPLE INC 1.56
ALPHABET INC CLASS C 1.29
BAE SYSTEMS PLC 0.99
Name Weight (%)
ASML HOLDING NV 0.92
NVIDIA CORP 0.88
MASTERCARD INC CLASS A 0.83
JPMORGAN CHASE & CO 0.78
NESTLE SA 0.74
as of 31-Jan-2024
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 2.3 02/15/2033 2.05
TREASURY NOTE 4.125 07/31/2028 1.32
UK CONV GILT 1.25 07/22/2027 1.29
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.20
GERMANY (FEDERAL REPUBLIC OF) 1.7 08/15/2032 1.15
Name Weight (%)
SPAIN (KINGDOM OF) 2.55 10/31/2032 1.09
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.98
UMBS 30YR TBA(REG A) 0.97
TREASURY NOTE 4 06/30/2028 0.82
TREASURY NOTE 4.875 10/31/2028 0.67

Exposure Breakdowns

Exposure Breakdowns

as of 31-Jan-2024

% of Weight

Type Fund Benchmark Net
as of 31-Jan-2024

% of Weight

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 31-Jan-2024

% of Weight

Type Fund Benchmark Net
as of 31-Jan-2024

% of Weight

Type Fund Benchmark Net
as of 31-Jan-2024

% of Weight

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.


% of Net Assets represents the Fund’s exposure based on the economic value of securities and is adjusted for futures, options, and swaps (except with respect to fixed income securities), and convertible bonds.

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A2 HUF 27,104.25 15.66 0.06 29-Feb-2024 27,104.25 22,788.93 LU0566074125
Class A10 Hedged ZAR 101.26 -0.43 -0.42 29-Feb-2024 102.17 90.13 LU2637965943
Class A10 Hedged AUD 10.06 -0.02 -0.20 29-Feb-2024 10.12 8.99 LU2637965869
Class A10 Hedged HKD 101.62 -0.14 -0.14 29-Feb-2024 102.25 90.31 LU2637965430
Class A9 USD 9.11 0.03 0.33 29-Feb-2024 9.12 7.97 LU2354320561
Class A10 USD 10.20 -0.01 -0.10 29-Feb-2024 10.26 9.05 LU2637965356
A2 Hedged EUR 42.67 0.16 0.38 29-Feb-2024 42.71 37.34 LU0212925753
Class A10 Hedged SGD 10.10 -0.01 -0.10 29-Feb-2024 10.16 9.00 LU2637965513
A2 Hedged SGD 16.87 0.06 0.36 29-Feb-2024 16.89 14.76 LU0308772762
Class A9 Hedged SGD 8.83 0.03 0.34 29-Feb-2024 8.84 7.78 LU2354320645
A2 EUR 68.97 0.15 0.22 29-Feb-2024 69.18 60.85 LU0171283459
Class A10 Hedged CNH 100.18 -0.16 -0.16 29-Feb-2024 100.83 89.78 LU2637965604
Class A10 Hedged EUR 10.13 -0.01 -0.10 29-Feb-2024 10.18 9.02 LU2637965786
A4 Hedged EUR 39.21 0.15 0.38 29-Feb-2024 39.25 34.31 LU0240613025
D2 USD 84.55 0.33 0.39 29-Feb-2024 84.61 72.78 LU0329592538
A4 EUR 66.31 0.13 0.20 29-Feb-2024 66.53 58.99 LU0408221512
A2 Hedged GBP 36.30 0.14 0.39 29-Feb-2024 36.33 31.62 LU0236177068
D4 GBP 57.38 0.13 0.23 29-Feb-2024 57.38 51.92 LU1852330908
Class A9 Hedged AUD 8.69 0.03 0.35 29-Feb-2024 8.70 7.65 LU2354320728
A2 Hedged CHF 13.61 0.05 0.37 29-Feb-2024 13.63 11.99 LU0343169966
D2 Hedged EUR 48.22 0.18 0.37 29-Feb-2024 48.26 42.09 LU0329591480
D2 Hedged CHF 14.84 0.05 0.34 29-Feb-2024 14.86 13.04 LU0827880260
A2 Hedged PLN 21.71 0.08 0.37 29-Feb-2024 21.73 18.74 LU0480534592
D2 EUR 77.93 0.16 0.21 29-Feb-2024 78.17 68.32 LU0523293024
D2 Hedged SGD 18.48 0.07 0.38 29-Feb-2024 18.50 16.12 LU0827880690
D4 EUR 67.02 0.14 0.21 29-Feb-2024 67.22 59.47 LU0827880005
D2 Hedged GBP 39.52 0.15 0.38 29-Feb-2024 39.55 34.34 LU0827880344
A4 USD 71.95 0.28 0.39 29-Feb-2024 72.01 62.53 LU0724617625
D2 Hedged PLN 23.66 0.09 0.38 29-Feb-2024 23.68 20.28 LU0827880427
A2 Hedged CNH 169.70 0.62 0.37 29-Feb-2024 169.91 148.90 LU1062906877
A2 Hedged HKD 17.44 0.07 0.40 29-Feb-2024 17.46 15.19 LU0788109477
D2 Hedged AUD 22.57 0.09 0.40 29-Feb-2024 22.59 19.68 LU0827880187
A2 USD 74.82 0.29 0.39 29-Feb-2024 74.89 64.87 LU0072462426
A2 Hedged AUD 20.72 0.08 0.39 29-Feb-2024 20.74 18.11 LU0468326631
D4 Hedged EUR 39.59 0.15 0.38 29-Feb-2024 39.63 34.56 LU0827880773

Ratings

Ratings

Morningstar Rating

4 stars
As of 29-Feb-2024

Morningstar Medalist Rating

Morningstar Medalist Rating - Silver
Effective 30-Jun-2017

Portfolio Managers

Portfolio Managers

Rick Rieder
Managing Director, CIO of Global Fixed Income

  

David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Documents

Documents