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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Distributions

Ex-Date Distribution
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  1y 3y 5y 10y Incept.
3.72 -1.93 3.38 2.47 3.37
5.82 -0.43 5.08 3.58 6.19
-1.46 -3.59 2.32 1.94 2.89
0.53 -2.12 4.00 3.05 5.99
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
5.70 6.46 0.16 2.84 3.72 -5.67 18.05 27.60 44.85
7.49 6.62 0.56 3.62 5.82 -1.29 28.10 42.20 403.25
0.42 1.13 -4.85 -2.30 -1.46 -10.38 12.15 21.22 37.61
2.11 1.28 -4.46 -1.56 0.53 -6.23 21.69 35.09 378.09
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 EUR 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 08-Dec-2023 USD 14,233,028,746
Share Class Inception Date 20-Sep-2012
Fund Inception 03-Jan-1997
Share Class Currency EUR
Fund Base Currency USD
Asset Class Multi Asset
SFDR Classification Other
Initial Charge 5.00%
ISIN LU0827880773
Management Fee (incl. Distribution Fee, if any) 0.75%
Performance Fee 0.00%
Minimum Initial Investment EUR 100000
Minimum Subsequent Investment EUR 1000
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category EUR Moderate Allocation - Global
Dealing Settlement Trade date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGGD4EH
SEDOL B882597
Benchmark 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
MAS ESG Fund No

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 30-Nov-2023 1,150
3y Beta as of 30-Nov-2023 0.868
P/E Ratio 16.89
Average Market Cap (Millions) as of 30-Nov-2023 USD 426,757.97
Effective Duration as of 30-Nov-2023 1.95yrs
5Y Annualised Volatility as of 30-Nov-2023 12.50
Since Share Inception – Annualised Volatility as of 30-Nov-2023 9.66
Effective Duration Fixed Income as of 30-Nov-2023 6.16
Effective Duration Fixed Income and Cash as of 30-Nov-2023 4.81

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 25-Oct-2023 A
MSCI ESG % Coverage as of 25-Oct-2023 86.80
MSCI ESG Quality Score (0-10) as of 25-Oct-2023 6.37
MSCI ESG Quality Score - Peer Percentile as of 25-Oct-2023 32.94
Fund Lipper Global Classification as of 25-Oct-2023 Mixed Asset USD Bal - Global
Funds in Peer Group as of 25-Oct-2023 252
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 25-Oct-2023 123.54
MSCI Weighted Average Carbon Intensity % Coverage as of 25-Oct-2023 64.47
All data is from MSCI ESG Fund Ratings as of 25-Oct-2023, based on holdings as of 30-Apr-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 30-Nov-2023 0.02%
MSCI - UN Global Compact Violators as of 30-Nov-2023 0.56%
MSCI - Nuclear Weapons as of 30-Nov-2023 0.02%
MSCI - Thermal Coal as of 30-Nov-2023 0.36%
MSCI - Civilian Firearms as of 30-Nov-2023 0.00%
MSCI - Oil Sands as of 30-Nov-2023 0.24%
MSCI - Tobacco as of 30-Nov-2023 0.03%

Business Involvement Coverage as of 30-Nov-2023 67.78%
Percentage of Fund not covered as of 30-Nov-2023 32.22%
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 0.66% and for Oil Sands 2.05%.

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 30-Nov-2023
Name Weight (%)
S&P500 EMINI DEC 23 3.36
MICROSOFT CORP 3.05
APPLE INC 1.91
ALPHABET INC CLASS C 1.65
AMAZON COM INC 1.55
Name Weight (%)
NIKKEI 225 (OSE) DEC 23 1.42
SPDR S&P ETF TRUST DEC C @ 455 1.30
BAE SYSTEMS PLC 0.94
MASTERCARD INC CLASS A 0.83
NESTLE SA 0.80
as of 30-Nov-2023
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 2.3 02/15/2033 2.06
TREASURY NOTE 4.125 07/31/2028 1.36
SPAIN (KINGDOM OF) 2.55 10/31/2032 1.36
UK CONV GILT 1.25 07/22/2027 1.30
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.19
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 1.7 08/15/2032 1.16
TREASURY NOTE 5 09/30/2025 1.02
TREASURY NOTE 5 10/31/2025 1.00
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.98
UMBS 30YR TBA(REG A) 0.98

Exposure Breakdowns

Exposure Breakdowns

as of 30-Nov-2023

% of Weight

Type Fund Benchmark Net
as of 30-Nov-2023

% 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 30-Nov-2023

% of Weight

Type Fund Benchmark Net
as of 30-Nov-2023

% of Weight

Type Fund Benchmark Net
as of 30-Nov-2023

% 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
D4 Hedged EUR 37.14 0.04 0.11 08-Dec-2023 38.61 34.56 LU0827880773
Class A10 Hedged AUD 9.58 0.01 0.10 08-Dec-2023 10.00 8.99 LU2637965869
Class A10 Hedged ZAR 96.20 0.11 0.11 08-Dec-2023 100.00 90.13 LU2637965943
Class A10 Hedged EUR 9.61 0.01 0.10 08-Dec-2023 10.00 9.02 LU2637965786
A4 Hedged EUR 36.84 0.04 0.11 08-Dec-2023 38.13 34.31 LU0240613025
A2 Hedged EUR 40.09 0.04 0.10 08-Dec-2023 41.03 37.34 LU0212925753
A2 Hedged GBP 34.01 0.04 0.12 08-Dec-2023 34.63 31.62 LU0236177068
A4 EUR 62.59 0.17 0.27 08-Dec-2023 62.64 58.91 LU0408221512
D2 Hedged EUR 45.23 0.05 0.11 08-Dec-2023 46.16 42.09 LU0329591480
D4 GBP 54.22 0.17 0.31 08-Dec-2023 55.59 51.92 LU1852330908
A2 Hedged CHF 12.85 0.02 0.16 08-Dec-2023 13.25 11.99 LU0343169966
Class A10 Hedged SGD 9.60 0.01 0.10 08-Dec-2023 10.00 9.00 LU2637965513
Class A10 Hedged CNH 95.50 0.07 0.07 08-Dec-2023 100.00 89.78 LU2637965604
A2 Hedged SGD 15.85 0.02 0.13 08-Dec-2023 16.21 14.76 LU0308772762
Class A10 USD 9.66 0.01 0.10 08-Dec-2023 10.00 9.05 LU2637965356
A2 EUR 65.10 0.19 0.29 08-Dec-2023 65.10 60.59 LU0171283459
D2 USD 78.98 0.10 0.13 08-Dec-2023 79.91 72.46 LU0329592538
Class A10 Hedged HKD 96.40 0.11 0.11 08-Dec-2023 100.00 90.31 LU2637965430
D4 EUR 63.15 0.18 0.29 08-Dec-2023 63.48 59.45 LU0827880005
D2 Hedged AUD 21.16 0.02 0.09 08-Dec-2023 21.57 19.68 LU0827880187
D2 EUR 73.43 0.21 0.29 08-Dec-2023 73.43 67.87 LU0523293024
A2 Hedged PLN 20.32 0.03 0.15 08-Dec-2023 20.61 18.61 LU0480534592
D2 Hedged GBP 36.97 0.05 0.14 08-Dec-2023 37.52 34.29 LU0827880344
D2 Hedged PLN 22.10 0.02 0.09 08-Dec-2023 22.36 20.11 LU0827880427
D2 Hedged SGD 17.33 0.02 0.12 08-Dec-2023 17.67 16.12 LU0827880690
A2 Hedged CNH 159.71 0.11 0.07 08-Dec-2023 163.70 148.90 LU1062906877
D2 Hedged CHF 13.98 0.01 0.07 08-Dec-2023 14.39 13.04 LU0827880260
A4 USD 67.32 0.08 0.12 08-Dec-2023 69.07 62.53 LU0724617625
A2 USD 70.01 0.08 0.11 08-Dec-2023 71.04 64.70 LU0072462426
A2 HUF 24,773.06 8.19 0.03 08-Dec-2023 26,156.30 22,788.93 LU0566074125
A2 Hedged AUD 19.46 0.02 0.10 08-Dec-2023 19.89 18.11 LU0468326631
A2 Hedged HKD 16.34 0.01 0.06 08-Dec-2023 16.64 15.19 LU0788109477

Ratings

Ratings

Morningstar Rating

3 stars
As of 30-Nov-2023

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Effective 01-May-2023

Portfolio Managers

Portfolio Managers

Rick Rieder
Managing Director, CIO of Global Fixed Income

  

David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Documents

Documents