Multi Asset

BGF Dynamic High Income Fund

Overview

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.

Credit risk, changes to interest rates and/or issuer defaults will have a significant impact on the performance of fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way.

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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This chart shows the fund's performance as the percentage loss or gain per year over the last 4 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 2.2 10.5 -19.6 13.0
Constraint Benchmark 1 (%) 13.4 14.5 -15.9 18.7

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

  1y 3y 5y 10y Incept.
13.47 -0.94 2.72 - 2.77
Constraint Benchmark 1 (%) 18.16 4.28 9.17 - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
3.42 1.20 1.69 7.89 13.47 -2.80 14.38 - 15.43
Constraint Benchmark 1 (%) 6.39 3.39 2.73 11.07 18.16 13.41 55.08 - -
  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of 31/Mar/2024

-15.38 33.74 1.67 -12.59 14.29
Constraint Benchmark 1 (%)

as of 31/Mar/2024

-5.19 36.44 5.86 -5.82 18.57

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 GBP, 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 18/Jun/2024
USD 2,782,730,269
Fund Launch Date
06/Feb/2018
Fund Base Currency
USD
Constraint Benchmark 1
MSCI World Index (70%) and Bloomberg Global Aggregate Bond Index (USD Hedged) (30%)
Initial Charge
5.00%
ISIN
LU1940842427
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 1,000.00
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGDD5GH
Share Class launch date
27/Feb/2019
Share Class Currency
GBP
Asset Class
Multi Asset
SFDR Classification
Other
Ongoing Charges Figures
0.98%
Annual Management Fee
0.75%
Minimum Initial Investment
GBP 100,000.00
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
GBP Flexible Allocation
Dealing Frequency
Daily, forward pricing basis
SEDOL
BJK6M82

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/May/2024
1888
Standard Deviation (3y)
as of 31/May/2024
11.61%
P/E Ratio
as of 31/May/2024
16.86
Yield to Maturity
as of 31/May/2024
15.21
Effective Duration
as of 31/May/2024
0.93
12 Month Trailing Dividend Distribution Yield
as of 31/May/2024
6.71
3y Beta
as of -
-
P/B Ratio
as of 31/May/2024
2.02
Modified Duration
as of 31/May/2024
1.40
Weighted Avg Maturity
as of 31/May/2024
1.75

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 Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, societal or governance topics, and from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. Where appropriate, 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.

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 03/May/2024)

Holdings

Holdings

as of 31/May/2024
Name Weight (%)
ISH MSCI USA Qty Div ESG UCITS ETF 3.93
ISHARES CORE S&P 500 UCITS ETF (DI 1.76
ISHARES $ HIGH YIELD CRP BND ETF $ 1.63
MSFT SOCIETE GENERALE SA 9.546/7/2024 1.50
AAPL ROYAL BANK OF CANADA 10.296/14/2024 0.97
Name Weight (%)
AMZN CITIGROUP INC 14.226/12/2024 0.84
GOOGL MIZUHO MARKETS CAYMAN LP 10.086/7/2024 0.72
TAIWAN SEMICONDUCTOR MANUFACTURING 0.61
MICROSOFT CORP 0.60
NVDA JP MORGAN STRUCTURED PRODUCTS BV 19.137/11/2024 0.54
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 31/May/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
Sorry, maturities are not available at this time.
as of 31/May/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 D5G Hedged GBP 8.51 0.05 0.59 18/Jun/2024 8.51 7.55 LU1940842427
Class I2 BRL Hedged (USD) USD 10.55 0.09 0.86 18/Jun/2024 11.23 9.14 LU2008661188
Class A6 Hedged EUR 6.71 0.04 0.60 18/Jun/2024 6.80 6.11 LU1706154686
Class A6 Hedged CAD 7.61 0.04 0.53 18/Jun/2024 7.70 6.88 LU1811366001
Class A6 Hedged HKD 75.17 0.41 0.55 18/Jun/2024 76.15 68.16 LU1697837992
Class D6 USD 8.30 0.05 0.61 18/Jun/2024 8.36 7.42 LU1564329388
Class A8 Hedged AUD 7.50 0.04 0.54 18/Jun/2024 7.57 6.76 LU1564329545
Class A6 Hedged GBP 7.12 0.04 0.56 18/Jun/2024 7.19 6.44 LU1733224965
Class D2 EUR 11.91 0.04 0.34 18/Jun/2024 11.93 10.28 LU1811365615
Class I6 USD 8.59 0.05 0.59 18/Jun/2024 8.65 7.67 LU1873113655
Class I2 EUR 12.17 0.03 0.25 18/Jun/2024 12.20 10.48 LU1811365532
Class A8 Hedged CNH 76.96 0.42 0.55 18/Jun/2024 77.60 69.36 LU1733225004
Class A2 Hedged CHF 10.07 0.05 0.50 18/Jun/2024 10.12 8.88 LU1800012988
Class A2 USD 12.20 0.07 0.58 18/Jun/2024 12.21 10.47 LU1564329032
Class A8 Hedged EUR 8.50 0.04 0.47 18/Jun/2024 8.56 7.59 LU2127174873
Class A2 Hedged SGD 11.42 0.06 0.53 18/Jun/2024 11.45 9.93 LU1564329628
Class A6 Hedged SGD 7.35 0.04 0.55 18/Jun/2024 7.46 6.70 LU1564329461
Class A6 USD 7.87 0.04 0.51 18/Jun/2024 7.95 7.08 LU1564329115
Class D2 Hedged CHF 10.55 0.06 0.57 18/Jun/2024 10.59 9.25 LU1800013010
Class D2 USD 12.80 0.07 0.55 18/Jun/2024 12.80 10.94 LU1564329206
Class A8 Hedged NZD 7.92 0.04 0.51 18/Jun/2024 7.99 7.12 LU1811365961
Class A6 Hedged CHF 10.17 0.05 0.49 18/Jun/2024 10.38 9.40 LU2655523319
Class D2 Hedged EUR 11.12 0.06 0.54 18/Jun/2024 11.14 9.62 LU1811365888
Class A6 Hedged JPY 1,006.00 6.00 0.60 18/Jun/2024 1,029.00 939.00 LU2655523236

Portfolio Managers

Portfolio Managers

Justin Christofel
CFA, CAIA, Managing Director

  

Alex Shingler
CFA, Managing Director

  

Literature

Literature