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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  1y 3y 5y 10y Incept.
-19.21 1.94 1.52 3.77 3.61
-23.25 0.21 0.48 3.24 3.09
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-19.08 2.69 -6.56 -9.48 -19.21 5.93 7.83 44.77 43.16
-23.12 -2.44 -11.23 -14.01 -23.25 0.63 2.44 37.53 36.00
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

Net Assets of Fund as of 28-Nov-2022 USD 14,890,490,450
Share Class Inception Date 20-Sep-2012
Fund Inception 03-Jan-1997
Share Class Currency GBP
Fund Base Currency USD
Asset Class Multi Asset
Constraint Benchmark 1 36% S&P 500 Index, 24% FTSE World Index (Ex-US), 24% ICE BofAML Current 5Yr US Treasury Index, 16% FTSE Non-USD World Govt Bond Index
SFDR Classification Other
Initial Charge 5.00%
Management Fee (incl. Distribution Fee, if any) 0.75%
Performance Fee 0.00%
Minimum Initial Investment GBP 100000
Minimum Subsequent Investment GBP 1000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category GBP Allocation 40-60% Equity
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGGAD2G
ISIN LU0827880344
SEDOL B8DRW63
MAS ESG Fund No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31-Oct-2022 943
P/E Ratio as of 31-Oct-2022 19.78
Average Market Cap (Millions) as of 31-Oct-2022 USD 288,562.10
Effective Duration as of 31-Oct-2022 1.61yrs
5Y Annualised Volatility as of 31-Oct-2022 11.98
Since Share Inception – Annualised Volatility as of 31-Oct-2022 9.57
Effective Duration Fixed Income as of 31-Oct-2022 4.33
Effective Duration Fixed Income and Cash as of 31-Oct-2022 3.41

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-Sep-2022 AA
MSCI ESG % Coverage as of 21-Sep-2022 92.26
MSCI ESG Quality Score (0-10) as of 21-Sep-2022 7.20
MSCI ESG Quality Score - Peer Percentile as of 21-Sep-2022 52.02
Fund Lipper Global Classification as of 21-Sep-2022 Mixed Asset USD Bal - Global
Funds in Peer Group as of 21-Sep-2022 198
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Sep-2022 188.35
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Sep-2022 53.25
All data is from MSCI ESG Fund Ratings as of 21-Sep-2022, based on holdings as of 30-Apr-2022. 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% 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch.

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-Oct-2022 0.02%
MSCI - UN Global Compact Violators as of 31-Oct-2022 0.49%
MSCI - Nuclear Weapons as of 31-Oct-2022 0.02%
MSCI - Thermal Coal as of 31-Oct-2022 0.01%
MSCI - Civilian Firearms as of 31-Oct-2022 0.06%
MSCI - Oil Sands as of 31-Oct-2022 0.02%
MSCI - Tobacco as of 31-Oct-2022 0.05%

Business Involvement Coverage as of 31-Oct-2022 54.54%
Percentage of Fund not covered as of 31-Oct-2022 45.45%
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 0.53% and for Oil Sands 1.96%.

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 31-Oct-2022
Name Weight (%)
MICROSOFT CORP 1.70
APPLE INC 1.68
ALPHABET INC CLASS C 1.20
CONOCOPHILLIPS 1.06
AMAZON COM INC 0.93
Name Weight (%)
HUMANA INC 0.92
UNITEDHEALTH GROUP INC 0.82
MASTERCARD INC CLASS A 0.73
MARSH & MCLENNAN INC 0.72
ENBRIDGE INC 0.72
as of 31-Oct-2022
Name Weight (%)
TREASURY NOTE 4.25 09/30/2024 11.16
TREASURY NOTE 4.375 10/31/2024 3.12
TREASURY (CPI) NOTE 0.625 01/15/2024 2.23
TREASURY NOTE 3.25 08/31/2024 1.67
TREASURY (CPI) NOTE 0.5 04/15/2024 1.24
Name Weight (%)
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.18
UMBS 30YR TBA(REG A) 1.04
TREASURY NOTE 1.375 09/30/2023 0.97
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.83
TREASURY BOND 3 08/15/2052 0.71

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-2022

% of Weight

Type Fund
as of 31-Oct-2022

% 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 31-Oct-2022

% of Weight

Type Fund
as of 31-Oct-2022

% of Weight

Type Fund
as of 31-Oct-2022

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
D2 Hedged GBP N/A 35.03 -0.08 -0.23 28-Nov-2022 41.68 32.14 LU0827880344 -
A2 Hedged SGD N/A 15.21 -0.04 -0.26 28-Nov-2022 18.05 13.94 LU0308772762 -
D4 GBP Annually 53.81 0.08 0.15 29-Nov-2022 57.23 51.60 LU1852330908 -
A4 EUR Annually 61.55 -0.42 -0.68 28-Nov-2022 66.94 59.29 LU0408221512 -
A2 HUF N/A 25,813.30 -435.43 -1.66 28-Nov-2022 27,678.23 22,855.92 LU0566074125 -
A2 Hedged CHF N/A 12.68 -0.04 -0.31 28-Nov-2022 15.33 11.68 LU0343169966 -
D2 Hedged CHF N/A 13.65 -0.05 -0.36 29-Nov-2022 16.45 12.61 LU0827880260 -
D2 Hedged AUD N/A 20.16 -0.08 -0.40 29-Nov-2022 24.03 18.54 LU0827880187 -
D4 Hedged EUR Annually 36.39 -0.09 -0.25 28-Nov-2022 44.14 33.44 LU0827880773 -
D2 Hedged SGD N/A 16.51 -0.03 -0.18 28-Nov-2022 19.45 15.11 LU0827880690 -
D4 EUR Annually 62.31 0.24 0.39 29-Nov-2022 67.57 60.06 LU0827880005 -
D2 Hedged PLN N/A 20.30 -0.14 -0.68 29-Nov-2022 23.53 18.63 LU0827880427 -
A2 Hedged CNH N/A 155.39 -0.38 -0.24 28-Nov-2022 182.76 142.57 LU1062906877 -
A2 Hedged HKD N/A 15.60 -0.04 -0.26 28-Nov-2022 18.52 14.30 LU0788109477 -
A2 USD N/A 65.73 -0.29 -0.44 29-Nov-2022 77.71 60.43 LU0072462426 -
A2 Hedged GBP N/A 32.34 -0.14 -0.43 29-Nov-2022 38.91 29.83 LU0236177068 -
A2 EUR N/A 63.30 -0.44 -0.69 28-Nov-2022 68.85 60.99 LU0171283459 -
A2 Hedged EUR N/A 38.87 -0.09 -0.23 28-Nov-2022 47.08 35.74 LU0212925753 -
A4 Hedged EUR Annually 36.12 -0.08 -0.22 28-Nov-2022 43.75 33.21 LU0240613025 -
A4 USD Annually 64.19 -0.15 -0.23 28-Nov-2022 75.55 58.75 LU0724617625 -
A2 Hedged PLN N/A 18.80 -0.13 -0.69 29-Nov-2022 21.94 17.27 LU0480534592 -
A2 Hedged AUD N/A 18.68 -0.08 -0.43 29-Nov-2022 22.42 17.20 LU0468326631 -
D2 EUR N/A 70.86 -0.48 -0.67 28-Nov-2022 76.55 68.04 LU0523293024 -
D2 USD N/A 73.90 -0.17 -0.23 28-Nov-2022 86.41 67.58 LU0329592538 -
D2 Hedged EUR N/A 43.51 -0.10 -0.23 28-Nov-2022 52.35 39.98 LU0329591480 -

Ratings

Ratings

Morningstar Rating

3 stars
As of 31-Oct-2022

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Effective 08-Apr-2022

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Documents

Documents