Multi Asset

BGF Global Allocation 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.

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. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares.

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

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Performance

Performance

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Reinvestments

This product does not have any distributions data as of now.
  From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
Total Return (%)

as of 30-Sep-21

5.13 4.33 8.81 6.90 18.07
  1y 3y 5y 10y Incept.
18.07 11.16 8.54 9.41 -
  YTD 1m 3m 1y 3y 5y 10y Incept.
11.10 -0.61 0.75 18.07 37.34 50.64 145.75 -

The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

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

Number of Issuers 1229
Size of Fund (Millions) as of 22-Oct-21 USD 18,752.482
12m Trailing Yield -
Base Currency U.S. Dollar
Fund Launch Date 03-Jan-97
Series Currency Euro
Share Class launch date 09-Aug-10
Asset Class Multi Asset
Morningstar Category USD Moderate Allocation
SFDR Classification Other
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charges Figures 1.02%
ISIN LU0523293024
Bloomberg Ticker BGGAD2E
Annual Management Fee 0.75%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B45M2Q8
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment EUR 100,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio as of 30-Sep-21 31.10
Average Market Cap (Millions) as of 30-Sep-21 USD 333,653.69
Effective Duration as of 30-Sep-21 0.81
Effective Duration Fixed Income as of 30-Sep-21 5.20
Effective Duration Fixed Income and Cash as of 30-Sep-21 5.36

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of 07-Oct-21 A
MSCI ESG Quality Score (0-10) as of 07-Oct-21 6.57
MSCI ESG Quality Score - Peer Percentile as of 07-Oct-21 84.08
MSCI ESG % Coverage as of 07-Oct-21 91.01
Fund Lipper Global Classification as of 07-Oct-21 Mixed Asset USD Bal - Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07-Oct-21 157.09
Funds in Peer Group as of 07-Oct-21 201
All data is from MSCI ESG Fund Ratings as of 07-Oct-21, based on holdings as of 30-Apr-21. 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 covered 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 30-Sep-21 0.01%
MSCI - UN Global Compact Violators as of 30-Sep-21 0.76%
MSCI - Nuclear Weapons as of 30-Sep-21 0.01%
MSCI - Thermal Coal as of 30-Sep-21 0.07%
MSCI - Civilian Firearms as of 30-Sep-21 0.06%
MSCI - Oil Sands as of 30-Sep-21 0.01%
MSCI - Tobacco as of 30-Sep-21 0.01%

Business Involvement Coverage as of 30-Sep-21 67.28%
Percentage of Fund not covered as of 30-Sep-21 32.72%
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 0.26% and for Oil Sands 0.88%.

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.

Risk Indicator

Risk Indicator

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

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for BGF Global Allocation Fund, Class D2, as of 31-Jan-20 rated against 736 USD Moderate Allocation Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 22-Apr-19)

Holdings

Holdings

as of 30-Sep-21
Name Weight (%)
MICROSOFT CORP 2.28
ALPHABET INC CLASS C 1.80
APPLE INC 1.73
AMAZON COM INC 1.27
UNITEDHEALTH GROUP INC 0.98
Name Weight (%)
JOHNSON & JOHNSON 0.96
BANK OF AMERICA CORP 0.79
TAIWAN SEMICONDUCTOR MANUFACTURING 0.78
ENBRIDGE INC 0.78
CONOCOPHILLIPS 0.75
as of 30-Sep-21
Name Weight (%)
UMBS 30YR TBA(REG A) 2.01
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.68 05/21/2030 0.91
ITALY (REPUBLIC OF) 1.35 04/01/2030 0.57
SPAIN (KINGDOM OF) 3.45 07/30/2066 0.52
ITALY (REPUBLIC OF) 0.95 08/01/2030 0.44
Name Weight (%)
JAPAN (GOVERNMENT OF) 30YR #64 0.4 09/20/2049 0.38
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2024 0.31
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.27 11/19/2030 0.26
SPAIN (KINGDOM OF) 0.5 10/31/2031 0.21
GREECE REPUBLIC OF (GOVERNMENT) 2 04/22/2027 0.19
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sep-21

% of Net Assets

Type Fund
Allocations subject to change.
as of 30-Sep-21

% of Net Assets

Type Fund
as of 30-Sep-21

% of Market Value

Type Fund
as of 30-Sep-21

% of Market Value

Type Fund
as of 30-Sep-21

% of Net Assets

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

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
Class D2 EUR None 74.11 0.24 0.32 74.11 60.36 - LU0523293024 - -
Class D4 GBP Annual 55.25 0.29 0.53 55.91 48.32 - LU1852330908 - -
Class A2 Hedged GBP None 38.97 0.13 0.33 39.40 32.24 - LU0236177068 - -
Class D2 Hedged CHF None 16.48 0.05 0.30 16.66 13.62 - LU0827880260 - -
Class A2 HUF None 24,283.76 105.64 0.44 24,283.76 20,123.92 - LU0566074125 - -
Class D2 Hedged AUD None 24.07 0.08 0.33 24.32 19.78 - LU0827880187 - -
Class A4 Hedged EUR Annual 43.88 0.14 0.32 44.38 36.45 - LU0240613025 - -
Class A2 Hedged EUR None 47.22 0.15 0.32 47.76 39.23 - LU0212925753 - -
Class A2 Hedged CHF None 15.38 0.05 0.33 15.56 12.81 - LU0343169966 - -
Class D4 EUR Annual 65.42 0.21 0.32 65.42 53.53 - LU0827880005 - -
Class A9 USD - 10.00 0.03 0.30 10.14 9.64 - LU2354320561 - -
Class A9 Hedged SGD - 10.00 0.04 0.40 10.14 9.64 - LU2354320645 - -
Class D2 Hedged EUR None 52.43 0.17 0.33 52.97 43.24 - LU0329591480 - -
Class A9 Hedged AUD - 9.98 0.03 0.30 10.13 9.63 - LU2354320728 - -
Class I2 EUR None 74.23 0.24 0.32 74.23 60.33 - LU1653088838 - -
Class A4 EUR Annual 64.90 0.21 0.32 64.90 53.25 - LU0408221512 - -
Class A2 Hedged AUD None 22.49 0.07 0.31 22.75 18.61 - LU0468326631 - -
Class A2 EUR None 66.75 0.21 0.32 66.75 54.77 - LU0171283459 - -
Class A2 Hedged SGD None 18.06 0.06 0.33 18.25 14.89 - LU0308772762 - -
Class D2 USD None 86.31 0.29 0.34 87.08 70.51 - LU0329592538 - -
Class A2 Hedged PLN None 21.92 0.07 0.32 22.16 18.11 - LU0480534592 - -
Class D4 Hedged EUR Annual 44.20 0.14 0.32 44.67 36.62 - LU0827880773 - -
Class D2 Hedged PLN None 23.48 0.08 0.34 23.71 19.25 - LU0827880427 - -
Class D2 Hedged SGD None 19.44 0.07 0.36 19.62 15.90 - LU0827880690 - -
Class A2 Hedged CNH None 181.97 0.62 0.34 183.05 146.61 - LU1062906877 - -
Class A4 USD Annual 75.58 0.25 0.33 76.33 62.20 - LU0724617625 - -
Class A2 USD None 77.74 0.26 0.34 78.51 63.98 - LU0072462426 - -
Class D2 Hedged GBP None 41.68 0.14 0.34 42.10 34.23 - LU0827880344 - -
Class A2 Hedged HKD None 18.53 0.06 0.32 18.72 15.27 - LU0788109477 - -
Class I2 Hedged SGD None 19.52 0.06 0.31 19.71 16.01 - LU0810842038 - -
Class I2 Hedged EUR None 51.99 0.17 0.33 52.52 42.79 - LU0368231949 - -
Class I2 USD None 86.44 0.28 0.32 87.19 70.48 - LU0368249560 - -

Portfolio Managers

Portfolio Managers

Rick Rieder
Portfolio Manager, BlackRock’s Green Bond Mandates

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income.

David Clayton
David Clayton
Russ Koesterich
Russ Koesterich

Literature

Literature