Equity

BGF Global Dynamic Equity 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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  1y 3y 5y 10y Incept.
50.53 15.61 14.49 9.15 7.78
43.00 13.65 13.32 8.59 7.42
  YTD 6m 1y 3y 5y 10y Incept.
11.85 17.51 50.53 54.54 96.74 139.97 213.40
6.26 11.63 43.00 46.81 86.90 127.97 197.73
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.

Key Facts

Key Facts

Size of Fund (Millions) as of 22-Jun-2021 USD 513.084
Base Currency U.S. Dollar
Fund Inception 28-Feb-2006
Share Class Currency U.S. Dollar
Share Class Inception Date 28-Feb-2006
Additional Currencies Euro
Asset Class Equity
Morningstar Category Global Large-Cap Blend Equity
Distribution Frequency N/A
ISIN LU0238689110
Bloomberg Ticker MERGDAU
Management Fee (incl. Distribution Fee, if any) 1.50%
Initial Charge 5.00%

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 28-May-2021 31.05
Average Market Cap (Millions) as of 28-May-2021 USD 312,385.85
Modified Duration as of 30-Oct-2015 2.57
3y Volatility as of 31-May-2021 19.77
5yr Volatility as of 31-May-2021 16.06
Since Share Inception – Volatility as of 31-May-2021 15.45
Since Share Inception - Beta as of 31-May-2021 0.94

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.

Holdings

Holdings

as of 28-May-2021
Name Weight (%)
MICROSOFT CORP 2.88
ALPHABET INC CLASS C 2.24
APPLE INC 2.11
BANK OF AMERICA CORP 1.82
AMAZON COM INC 1.67
Name Weight (%)
JOHNSON & JOHNSON 1.51
JPMORGAN CHASE & CO 1.49
UNITEDHEALTH GROUP INC 1.39
MASTERCARD INC CLASS A 1.34
TAIWAN SEMICONDUCTOR MANUFACTURING 1.29
as of 28-May-2021
Name Weight (%)
2020 CASH MANDATORY EXCHANGEABLE T 144A 0.20
BECTON DICKINSON AND COMPANY 0.14
APTIV PLC 0.13
Name Weight (%)
BOSTON SCIENTIFIC CORPORATION 0.07
CHINA MILK PRODUCTS GROUP LTD 0 01/05/2012 0.00

Exposure Breakdowns

Exposure Breakdowns

as of 28-May-2021

% of Weight

Type Fund
as of 28-May-2021

% of Weight

Type Fund
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 28-May-2021

% of Weight

Type Fund
as of 28-May-2021

% of Weight

Type Fund

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. On a market value basis the Fund is comprised of 89% equities, 2% fixed income, 9% cash equivalents. The Funds will not use borrowing to purchase additional investments but may be expected, via derivative positions, to obtain market exposure in excess of net asset value.

Ratings

Ratings

Morningstar Rating

4 stars
As of 31-May-2021

Pricing & Exchange

Pricing & Exchange

Share Class Currency Distribution Frequency NAV NAV $ Change NAV % Change NAV As Of ISIN
A2 USD N/A 31.15 0.12 0.39 22-Jun-2021 LU0238689110
A4 EUR Annually 26.10 0.12 0.46 22-Jun-2021 LU0408221603
D4 EUR Annually 23.82 0.11 0.46 22-Jun-2021 LU0938162772
A2 EUR N/A 26.17 0.12 0.46 22-Jun-2021 LU0238689623
A2 Hedged EUR N/A 19.42 0.08 0.41 22-Jun-2021 LU0238690555
D2 USD N/A 34.36 0.13 0.38 22-Jun-2021 LU0368268198
D2 Hedged EUR N/A 20.73 0.08 0.39 22-Jun-2021 LU0326425609
D2 EUR N/A 28.87 0.13 0.45 22-Jun-2021 LU0827880856

Portfolio Managers

Portfolio Managers

David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Documents

Documents