Multi Asset

BGF Global Allocation Fund

  • NAV as of 04-Dec-2025 RMB 105.11
    52 WK: 89.33 - 106.89
  • 1 Day NAV Change as of 04-Dec-2025 RMB 0.30 (0.29%)

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.
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Performance

Performance

Chart

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Distributions

Ex-Date Distribution
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Ex-Date Distribution
  1y 3y 5y 10y Incept.
Total Return (%) 10.03 - - - 8.33
Total Return (%) Base Share Class 13.22 11.71 5.39 6.33 6.76
Total Return – Max. IC applied (%) 4.53 - - - 6.00
Total Return – Max. IC applied (%) Base Share Class 7.56 9.81 4.32 5.79 6.57
Benchmark (%) 14.22 - - - 12.46
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 12.70 -0.38 3.54 8.81 10.03 - - - 20.81
Total Return (%) Base Share Class 15.63 -0.20 4.25 10.43 13.22 39.40 30.03 84.79 562.93
Total Return – Max. IC applied (%) 7.06 -5.36 -1.64 3.37 4.53 - - - 14.77
Total Return – Max. IC applied (%) Base Share Class 9.85 -5.19 -0.96 4.91 7.56 32.43 23.53 75.55 529.78
Benchmark (%) 16.70 0.37 3.96 10.00 14.22 - - - 32.00

  2020 2021 2022 2023 2024
Total Return (%) 5.72
Benchmark (%) 9.09
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

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

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

Key Facts

Key Facts

Net Assets of Fund
as of 04-Dec-2025
USD 17,333,122,333
Fund Inception
03-Jan-1997
Fund Base Currency
USD
SFDR Classification
Other
Management Fee
1.50%
Management Fee (incl. Distribution Fee, if any)
1.50%
Minimum Initial Investment
USD 5000
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
Other Allocation
Dealing Frequency
Daily, forward pricing basis
SEDOL
BNDC252
MAS ESG Fund
No
Share Class Inception Date
19-Jul-2023
Share Class Currency
CNH
Asset Class
Multi Asset
Initial Charge
5.00%
ISIN
LU2637965604
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1000
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
BGFGBAC
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

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31-Oct-2025
1,489
Equity Price/Earnings (FY1)
as of 31-Oct-2025
22.25
Effective Duration
as of 31-Oct-2025
2.26yrs
Since Share Inception – Annualised Volatility
as of 30-Nov-2025
9.01
Effective Duration Fixed Income and Cash
as of 31-Oct-2025
5.82
3y Beta
as of -
-
Average Market Cap (Millions)
as of 31-Oct-2025
USD 991,151.58
5Y Annualised Volatility
as of -
-
Effective Duration Fixed Income
as of 31-Oct-2025
8.40

Ratings

Holdings

Holdings

as of 31-Oct-2025
Name Weight (%)
NVIDIA CORP 2.93
MICROSOFT CORP 2.70
APPLE INC 2.53
ALPHABET INC CLASS C 2.25
AMAZON COM INC 2.00
Name Weight (%)
BROADCOM INC 1.33
META PLATFORMS INC CLASS A 1.10
TAIWAN SEMICONDUCTOR MANUFACTURING 1.07
ELI LILLY 0.91
TESLA INC 0.85
as of 31-Oct-2025
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 2.3 02/15/2033 1.79
UK CONV GILT 1.25 07/22/2027 1.18
TREASURY NOTE 4.125 07/31/2028 1.14
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.06
GERMANY (FEDERAL REPUBLIC OF) 1.7 08/15/2032 1.02
Name Weight (%)
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.82
TREASURY NOTE 4.375 08/31/2028 0.68
UMBS 30YR TBA(REG A) 0.63
IRELAND (GOVERNMENT) 2.6 10/18/2034 0.58
TREASURY NOTE 4.875 10/31/2028 0.56

Exposure Breakdowns

Exposure Breakdowns

as of 31-Oct-2025

% of Weight

Type Fund Benchmark Net
as of 31-Oct-2025

% 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-Oct-2025

% of Weight

Type Fund Benchmark Net
as of 31-Oct-2025

% of Weight

Type Fund Benchmark Net
as of 31-Oct-2025

% 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.
Due to rounding, the total may not be equal to 100%

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
A10 Hedged CNH 105.11 0.30 0.29 04-Dec-2025 106.89 89.33 LU2637965604
A10 Hedged ZAR 108.82 0.35 0.32 04-Dec-2025 110.81 91.50 LU2637965943
D2 USD 105.48 0.32 0.30 04-Dec-2025 105.80 83.87 LU0329592538
A4 Hedged EUR 45.67 0.13 0.29 04-Dec-2025 45.94 37.47 LU0240613025
A11 USD 9.98 0.03 0.30 04-Dec-2025 10.16 9.72 LU3183194995
A10 Hedged SGD 10.81 0.03 0.28 04-Dec-2025 10.98 9.13 LU2637965513
A11 Hedged JPY 997.00 2.00 0.20 04-Dec-2025 1,015.00 970.00 LU3183195299
A10 Hedged HKD 109.68 0.33 0.30 04-Dec-2025 111.29 92.46 LU2637965430
Class A9 Hedged AUD 9.96 0.03 0.30 04-Dec-2025 10.01 8.12 LU2354320728
D2 Hedged EUR 57.99 0.16 0.28 04-Dec-2025 58.30 46.97 LU0329591480
A11 Hedged ZAR 99.84 0.32 0.32 04-Dec-2025 101.72 97.26 LU3183195455
D4 GBP 65.68 -0.08 -0.12 04-Dec-2025 67.01 55.37 LU1852330908
A2 Hedged CHF 15.55 0.04 0.26 04-Dec-2025 15.67 12.83 LU0343169966
Class A9 USD 10.70 0.04 0.38 04-Dec-2025 10.74 8.66 LU2354320561
A2 EUR 78.94 0.17 0.22 04-Dec-2025 79.71 66.95 LU0171283459
A10 Hedged AUD 10.78 0.03 0.28 04-Dec-2025 10.95 9.06 LU2637965869
Class A9 Hedged SGD 9.95 0.03 0.30 04-Dec-2025 10.02 8.22 LU2354320645
A2 Hedged SGD 19.93 0.05 0.25 04-Dec-2025 20.07 16.25 LU0308772762
A2 Hedged GBP 44.35 0.14 0.32 04-Dec-2025 44.53 35.62 LU0236177068
A2 Hedged EUR 50.64 0.14 0.28 04-Dec-2025 50.94 41.22 LU0212925753
D10 USD 11.05 0.04 0.36 04-Dec-2025 11.20 9.16 LU2943721485
A10 USD 11.20 0.04 0.36 04-Dec-2025 11.36 9.34 LU2637965356
A10 Hedged EUR 11.00 0.03 0.27 04-Dec-2025 11.17 9.26 LU2637965786
A4 EUR 74.51 0.17 0.23 04-Dec-2025 75.24 63.70 LU0408221512
A10 Hedged JPY 1,055.00 3.00 0.29 04-Dec-2025 1,069.00 889.00 LU2940471407
A11 Hedged CNH 100.29 0.29 0.29 04-Dec-2025 100.29 100.00 LU3222514245
A11 Hedged GBP 10.03 0.03 0.30 04-Dec-2025 10.03 10.00 LU3222514328
D2 Hedged PLN 29.65 0.09 0.30 04-Dec-2025 29.74 23.57 LU0827880427
A2 Hedged PLN 26.86 0.09 0.34 04-Dec-2025 26.95 21.46 LU0480534592
A2 Hedged JPY 1,092.00 3.00 0.28 04-Dec-2025 1,100.00 898.00 LU2940471233
D4 Hedged EUR 46.07 0.13 0.28 04-Dec-2025 46.31 37.89 LU0827880773
A11 Hedged AUD 10.03 0.03 0.30 04-Dec-2025 10.03 10.00 LU3222514088
A2 HUF 30,151.65 116.10 0.39 04-Dec-2025 32,198.52 27,378.55 LU0566074125
A4 USD 86.95 0.27 0.31 04-Dec-2025 87.27 70.04 LU0724617625
D2 Hedged SGD 22.13 0.07 0.32 04-Dec-2025 22.26 17.95 LU0827880690
A2 Hedged AUD 24.90 0.08 0.32 04-Dec-2025 25.01 20.04 LU0468326631
A11 Hedged HKD 100.30 0.30 0.30 04-Dec-2025 100.30 100.00 LU3222513940
D2 Hedged CHF 17.18 0.05 0.29 04-Dec-2025 17.30 14.10 LU0827880260
D2 EUR 90.39 0.20 0.22 04-Dec-2025 91.22 76.29 LU0523293024
D2 Hedged GBP 48.92 0.15 0.31 04-Dec-2025 49.08 39.10 LU0827880344
D4 EUR 75.25 0.17 0.23 04-Dec-2025 76.05 64.47 LU0827880005
D2 Hedged AUD 27.49 0.09 0.33 04-Dec-2025 27.59 22.01 LU0827880187
A2 Hedged HKD 20.92 0.06 0.29 04-Dec-2025 21.02 16.96 LU0788109477
A2 Hedged CNH 198.62 0.57 0.29 04-Dec-2025 199.88 162.05 LU1062906877
A2 USD 92.13 0.29 0.32 04-Dec-2025 92.47 73.61 LU0072462426

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Managing Director, CIO of Global Fixed Income

  

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Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. Mr. Rieder is responsible for roughly $2.4 trillion in assets. He is a member of BlackRock’s Executive Sub-Committee on Investments, 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 member of the Federal Reserve’s Investment Advisory Committee on Financial Markets.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was nominated for Outstanding Portfolio Manager by Morningstar in 2021, was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013. Four of the funds Mr. Rieder manages (Strategic Income Opportunities, Fixed Income Global Opportunities, Total Return, and Strategic Global Bond) have been awarded Gold Medals by Morningstar.

 

From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta.

 

Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program.

 

Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, New Jersey, and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation, and Trustee for the US Olympic Foundation. Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

Russ Koesterich
Russ Koesterich

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Documents

Documents