Multi Asset

BGF Global Multi-Asset Income Fund

  • NAV as of 11/Dec/2024 USD 8.98
    52 WK: 8.54 - 9.08
  • 1 Day NAV Change as of 11/Dec/2024 0.01 (0.11%)
  • Morningstar Rating

Overview

Investment Approach


The Fund aims to generate an above average level of income on your investment as well as maintain long term capital growth.

The Fund invests globally in the full range of assets in which a UCITS fund may invest, including equity securities (e.g. shares), fixed income securities (such as bonds), funds, cash, deposits and money market instruments (i.e. debt securities with short term maturities).

The Fund is actively managed and the asset classes and the extent to which the Fund is invested in these may vary without limit depending on market conditions and other factors at the investment adviser's (IA) discretion. The IA may refer to a composite benchmark comprising MSCI World Index (50%) and Bloomberg Global Aggregate Bond Index USD Hedged (50%) (the “Index”) for risk management purposes to ensure that the active risk (i.e. degree of deviation from the Index) taken by the Fund remains appropriate given the Fund’s investment objective and policy. The IA is not bound by the components or weighting of the Index when selecting investments. The IA may also use its discretion to invest in securities not included in the Index in order to take advantage of specific investment opportunities. The Fund’s portfolio holdings are expected to deviate materially from the Index. The components of the Index (i.e. MSCI World Index and Bloomberg Global Aggregate Bond Index US Hedged) may be quoted separately in marketing material related to the Fund.

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. Investors in this Fund should understand that capital growth is not a priority and values may fluctuate and the level of income may vary from time to time and is not guaranteed. The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets.

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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

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Distributions

Ex-Date Total Distribution
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Ex-Date Total Distribution
For more information: +44 (0) 20 7743 3300 • www.blackrock.com • investor.services@blackrock.com

This chart shows the fund's performance as the percentage loss or gain per year over the last 7 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 5.4 8.6 -4.9 13.3 5.7 5.7 -13.2 9.9
Constraint Benchmark 1 (%) 12.4 -3.4 17.8 11.5 9.8 -14.4 15.3

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
Total Return (%) 12.65 1.74 3.15 - 4.05
Constraint Benchmark 1 (%) 17.33 4.29 6.66 - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 8.32 1.70 1.52 6.46 12.65 5.30 16.79 - 39.85
Constraint Benchmark 1 (%) 12.76 2.89 2.69 8.08 17.33 13.42 38.05 - -
  From
30-Sept-2019
To
30-Sept-2020 		From
30-Sept-2020
To
30-Sept-2021 		From
30-Sept-2021
To
30-Sept-2022 		From
30-Sept-2022
To
30-Sept-2023 		From
30-Sept-2023
To
30-Sept-2024
Total Return (%)

as of 30/Sept/2024

1.71 11.12 -15.96 6.82 16.23
Constraint Benchmark 1 (%)

as of 30/Sept/2024

7.86 13.50 -15.65 11.81 21.18

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 USD, 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 11/Dec/2024
USD 4,411,665,376
Fund Launch Date
28/Jun/2012
Fund Base Currency
USD
Constraint Benchmark 1
MSCI World Index (50%), Bloomberg Global Aggregate Bond Index USD Hedged (50%)
Initial Charge
5.00%
Management Fee
1.50%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGMAA5G
Share Class launch date
22/Jun/2016
Share Class Currency
USD
Asset Class
Multi Asset
SFDR Classification
Other
Ongoing Charges Figures
1.76%
ISIN
LU0784383803
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
USD Moderate Allocation
Dealing Frequency
Daily, forward pricing basis
SEDOL
B87XH51

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 29/Nov/2024
2832
Standard Deviation (3y)
as of 30/Nov/2024
9.11%
P/E Ratio
as of 29/Nov/2024
17.59
Yield to Maturity
as of 29/Nov/2024
10.43
Effective Duration
as of 29/Nov/2024
2.26
12 Month Trailing Dividend Distribution Yield
as of 30/Nov/2024
6.05
3y Beta
as of -
-
P/B Ratio
as of 29/Nov/2024
2.00
Modified Duration
as of 29/Nov/2024
2.75
Weighted Avg Maturity
as of 29/Nov/2024
2.43

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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for BGF Global Multi-Asset Income Fund, Class A5G, as of 30/Nov/2024 rated against 1121 USD Moderate Allocation Funds.

Holdings

Holdings

as of 29/Nov/2024
Name Weight (%)
ISH MSCI USA Qty Div ESG UCITS ETF 2.19
ISHARES CORE CORP BOND UCI USD 2.07
ISHARES $ HIGH YIELD CRP BND ETF $ 1.57
BGF USD HIGH YIELD BD X6 USD 1.04
MICROSOFT CORP 0.87
Name Weight (%)
AAPL CITIGROUP INC 12.5312/16/2024 0.48
MSFT SOCIETE GENERALE SA 13.6312/12/2024 0.47
AMZN CITIGROUP INC 13.8412/16/2024 0.47
TAIWAN SEMICONDUCTOR MANUFACTURING 0.45
ASTRAZENECA PLC 0.37
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

Sorry, sectors are not available at this time.
Sorry, geographic exposures are not available at this time.
as of 29/Nov/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Nov/2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
Sorry, maturities are not available at this time.
as of 29/Nov/2024

% of Market Value

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.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A5G USD 8.98 0.01 0.11 11/Dec/2024 9.08 8.54 LU0784383803
Class I2 USD 14.95 0.01 0.07 11/Dec/2024 15.00 13.24 LU1523255922
Class A6 Hedged CHF 10.09 0.01 0.10 11/Dec/2024 10.33 9.95 LU2655523152
Class A8 Hedged AUD 8.10 0.00 0.00 11/Dec/2024 8.21 7.71 LU0871640123
Class A8 Hedged CNH 83.53 -0.03 -0.04 11/Dec/2024 84.78 79.53 LU1257007564
Class D2 USD 17.75 0.01 0.06 11/Dec/2024 17.82 15.76 LU0784385337
Class D4G Hedged CHF 7.62 0.00 0.00 11/Dec/2024 8.07 7.50 LU1373034344
Class D6 Hedged SGD 9.78 0.01 0.10 11/Dec/2024 9.95 9.40 LU2472302624
Class A2 Hedged CHF 11.18 0.00 0.00 11/Dec/2024 11.27 10.44 LU0784383472
Class A6 Hedged EUR 6.46 0.00 0.00 11/Dec/2024 6.58 6.27 LU1133085917
Class A6 USD 8.32 0.00 0.00 11/Dec/2024 8.45 7.92 LU0784384876
Class I2 Hedged EUR 11.59 0.00 0.00 11/Dec/2024 11.64 10.45 LU1523256144
Class A6 Hedged JPY 991.00 1.00 0.10 11/Dec/2024 1,026.00 984.00 LU2655523079
Class A2 USD 16.53 0.00 0.00 11/Dec/2024 16.60 14.81 LU0784385840
Class A6 Hedged HKD 77.46 0.04 0.05 11/Dec/2024 78.84 74.59 LU0784385170
Class A4G USD 8.81 0.00 0.00 11/Dec/2024 9.24 8.39 LU1301847155
Class A4G Hedged CHF 7.05 0.00 0.00 11/Dec/2024 7.49 6.97 LU1373034260
Class A2 Hedged EUR 11.49 0.01 0.09 11/Dec/2024 11.53 10.47 LU0784383399
Class A3G EUR 8.51 0.02 0.24 11/Dec/2024 8.58 7.90 LU1238068834
Class D2 Hedged EUR 12.58 0.00 0.00 11/Dec/2024 12.63 11.37 LU1062843344
Class D2 Hedged CHF 12.05 0.00 0.00 11/Dec/2024 12.13 11.15 LU1373034187
Class A8 Hedged CAD 7.61 0.01 0.13 11/Dec/2024 7.73 7.26 LU1003077580
Class A5G Hedged SGD 7.43 0.00 0.00 11/Dec/2024 7.54 7.16 LU0784384363
Class A5G Hedged AUD 8.11 0.00 0.00 11/Dec/2024 8.21 7.78 LU0949170269
Class A4G Hedged EUR 6.69 0.00 0.00 11/Dec/2024 7.05 6.48 LU0784383712
Class D4G Hedged EUR 7.64 0.00 0.00 11/Dec/2024 8.03 7.33 LU0944772804
Class A8 Hedged NZD 7.83 0.00 0.00 11/Dec/2024 7.95 7.46 LU0949170343
Class A8 Hedged GBP 7.71 0.01 0.13 11/Dec/2024 7.82 7.30 LU1003077663
Class D6 Hedged GBP 8.39 0.00 0.00 11/Dec/2024 8.51 7.95 LU1791173633
Class I5G Hedged EUR 7.53 0.00 0.00 11/Dec/2024 7.62 7.19 LU1129992480
Class X5G GBP Hedged GBP 9.32 0.01 0.11 11/Dec/2024 9.38 8.76 LU1877504073
Class A2 EUR 15.74 0.03 0.19 11/Dec/2024 15.80 13.74 LU1162516477
Class A6 Hedged SGD 7.39 0.00 0.00 11/Dec/2024 7.53 7.17 LU0949170426
Class D6 USD 9.22 0.00 0.00 11/Dec/2024 9.35 8.69 LU1003077408

Portfolio Managers

Portfolio Managers

Alex Shingler
Alex Shingler
CFA, Managing Director

  

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Alex Shingler, CFA, Managing Director, is the Co-Head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions (MASS) group. The MASS Income team manages strategies that seek to deliver attractive risk-adjusted income and total return across multiple risk profiles to clients globally. Mr. Shingler is a member of the MASS Executive Committee.

 

Mr. Shingler has spent his career investing across equity and fixed income markets. Prior to his current role, he served as a portfolio manager and research analyst within BlackRock's European and US credit businesses. Before joining BlackRock in 2009 in London, Mr. Shingler focused on special situation equity investments.

 

Mr. Shingler earned an AB degree, summa cum laude, in philosophy from Princeton University. He grew up in Montreal, Canada and resides in the New York City area with his wife and daughter.

Justin Christofel
Justin Christofel
CFA, CAIA, Managing Director

  

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Justin Christofel, CFA, CAIA, Managing Director, is the Co-Head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions (MASS) group. The MASS Income team manages strategies that seek to deliver attractive risk-adjusted income and total return across multiple risk profiles to clients globally. Mr. Christofel is a member of the MASS Executive Committee and Blackrock’s Global Human Capital Committee.

 

Prior to the launch of the Income strategies, Mr. Christofel managed customized asset allocation portfolios for institutional investors. He also managed volatility control strategies, and a multi-asset real return portfolio. Mr. Christofel joined Blackrock in 2007 from Oliver Wyman, a consulting firm specializing in financial services. His projects spanned from retail banking to structured finance.

 

Mr. Christofel graduated from Yale University with a BA degree, with honors, in economics and mathematics.

Literature

Literature