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

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.

Loading

Performance

Performance

Chart

View full chart

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 1.6 -2.3 3.2 12.8 -8.9 16.8 19.7 6.3 -16.3 12.5
Constraint Benchmark 1 (%) 4.2 -0.8 6.1 15.7 -4.7 18.8 13.3 10.1 -15.6 15.7
Comparator Benchmark 2 (%) 4.8 -1.4 8.6 24.1 -8.8 27.7 16.3 21.0 -17.5 24.2
Comparator Benchmark 3 (%) -0.5 -3.6 1.6 7.5 -0.8 5.9 10.1 -7.0 -18.3 5.2

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

  1y 3y 5y 10y Incept.
20.77 2.03 7.02 4.83 6.56
Constraint Benchmark 1 (%) 22.87 4.46 7.55 6.61 6.61
Comparator Benchmark 2 (%) 32.50 9.28 13.26 10.30 8.05
Comparator Benchmark 3 (%) 11.02 -4.41 -2.05 -0.15 3.05
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
10.76 1.47 3.85 5.21 20.77 6.22 40.36 60.32 483.49
Constraint Benchmark 1 (%) 12.15 1.63 6.27 7.56 22.87 14.00 43.87 89.63 490.22
Comparator Benchmark 2 (%) 18.68 1.80 6.38 9.31 32.50 30.51 86.36 166.47 756.76
Comparator Benchmark 3 (%) 2.72 1.64 6.95 5.26 11.02 -12.66 -9.86 -1.46 130.43
  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

13.84 16.07 -19.16 8.81 20.77
Constraint Benchmark 1 (%)

as of 30/Sept/2024

9.05 15.73 -18.57 13.94 22.87
Comparator Benchmark 2 (%)

as of 30/Sept/2024

10.41 29.33 -19.70 22.67 32.50
Comparator Benchmark 3 (%)

as of 30/Sept/2024

6.77 -3.33 -22.14 1.04 11.02

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 14/Oct/2024
USD 15,405,001,279
Fund Launch Date
03/Jan/1997
Fund Base Currency
USD
Constraint Benchmark 1
S&P 500 (36%); FTSE World (ex-US) (24%); 5 Yr US Treasury Note (24%) and FTSE Non-USD World Government Bond Index (16%)
Comparator Benchmark 3
FTSE World Government Bond Index
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
MERGAAI
Share Class launch date
03/Jan/1997
Share Class Currency
USD
Asset Class
Multi Asset
Comparator Benchmark 2
FTSE World Index
SFDR Classification
Other
Ongoing Charges Figures
1.76%
ISIN
LU0072462426
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
USD Moderate Allocation
Dealing Frequency
Daily, forward pricing basis
SEDOL
5301377

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Sept/2024
1228
Equity Price/Earnings (FY1)
as of 30/Sept/2024
20.10
Effective Duration
as of 30/Sept/2024
2.10
Effective Duration Fixed Income and Cash
as of 30/Sept/2024
5.32
3y Beta
as of 30/Sept/2024
0.873
Average Market Cap (Millions)
as of 30/Sept/2024
USD 571,883.24
Effective Duration Fixed Income
as of 30/Sept/2024
7.23

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.

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

4 stars
Overall Morningstar Rating for BGF Global Allocation Fund, Class A2, as of 30/Sept/2024 rated against 1114 USD Moderate Allocation Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 16/May/2024)
Analyst-Driven % as of 16/May/2024
100.00
Data Coverage % as of 16/May/2024
100.00

Holdings

Holdings

as of 30/Sept/2024
Name Weight (%)
MICROSOFT CORP 2.72
NVIDIA CORP 2.16
AMAZON COM INC 1.63
APPLE INC 1.57
ALPHABET INC CLASS C 1.34
Name Weight (%)
UNITEDHEALTH GROUP INC 0.89
META PLATFORMS INC CLASS A 0.86
MASTERCARD INC CLASS A 0.83
PROGRESSIVE CORP 0.80
WALMART INC 0.75
as of 30/Sept/2024
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 2.3 02/15/2033 1.99
UK CONV GILT 1.25 07/22/2027 1.31
TREASURY NOTE 4.125 07/31/2028 1.28
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.22
GERMANY (FEDERAL REPUBLIC OF) 1.7 08/15/2032 1.13
Name Weight (%)
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.82
TREASURY NOTE 4 06/30/2028 0.79
TREASURY NOTE 4.875 10/31/2028 0.64
TREASURY (CPI) NOTE 2.125 04/15/2029 0.48
TREASURY NOTE 5 09/30/2025 0.47
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30/Sept/2024

% of Net Assets

Type Fund Benchmark Net
Allocations subject to change.
as of 30/Sept/2024

% of Net Assets

Type Fund Benchmark Net
as of 30/Sept/2024

% of Market Value

Type Fund Benchmark Net
as of 30/Sept/2024

% of Market Value

Type Fund Benchmark Net
as of 30/Sept/2024

% 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

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A2 USD 80.73 0.35 0.44 14/Oct/2024 81.17 65.03 LU0072462426
Class A10 Hedged EUR 10.50 0.05 0.48 14/Oct/2024 10.60 9.02 LU2637965786
Class A9 Hedged SGD 9.22 0.04 0.44 14/Oct/2024 9.33 7.78 LU2354320645
Class D2 Hedged EUR 51.69 0.23 0.45 14/Oct/2024 51.98 42.09 LU0329591480
Class A10 Hedged ZAR 104.51 0.44 0.42 14/Oct/2024 105.81 90.13 LU2637965943
Class A10 USD 10.59 0.05 0.47 14/Oct/2024 10.71 9.05 LU2637965356
Class A10 Hedged SGD 10.41 0.05 0.48 14/Oct/2024 10.52 9.00 LU2637965513
Class A10 Hedged AUD 10.33 0.04 0.39 14/Oct/2024 10.45 8.99 LU2637965869
Class D4 GBP 59.35 0.38 0.64 14/Oct/2024 59.93 51.92 LU1852330908
Class A9 Hedged AUD 9.08 0.04 0.44 14/Oct/2024 9.19 7.65 LU2354320728
Class A9 USD 9.62 0.04 0.42 14/Oct/2024 9.74 7.97 LU2354320561
Class A4 Hedged EUR 41.39 0.18 0.44 14/Oct/2024 41.64 34.31 LU0240613025
Class A2 Hedged EUR 45.53 0.20 0.44 14/Oct/2024 45.80 37.34 LU0212925753
Class A2 EUR 73.94 0.47 0.64 14/Oct/2024 73.94 61.35 LU0171283459
Class A2 Hedged CHF 14.34 0.06 0.42 14/Oct/2024 14.44 11.99 LU0343169966
Class A4 EUR 70.35 0.45 0.64 14/Oct/2024 70.35 58.99 LU0408221512
Class A10 Hedged HKD 104.88 0.45 0.43 14/Oct/2024 106.05 90.31 LU2637965430
Class A10 Hedged CNH 102.32 0.47 0.46 14/Oct/2024 103.53 89.78 LU2637965604
Class D2 USD 91.65 0.40 0.44 14/Oct/2024 92.12 73.29 LU0329592538
Class A2 Hedged SGD 17.99 0.08 0.45 14/Oct/2024 18.10 14.76 LU0308772762
Class A2 Hedged GBP 39.05 0.17 0.44 14/Oct/2024 39.25 31.62 LU0236177068
Class I2 USD 92.38 0.41 0.45 14/Oct/2024 92.84 73.72 LU0368249560
Class D2 EUR 83.95 0.55 0.66 14/Oct/2024 83.95 69.15 LU0523293024
Class D2 Hedged CHF 15.71 0.07 0.45 14/Oct/2024 15.82 13.04 LU0827880260
Class A2 Hedged PLN 23.43 0.11 0.47 14/Oct/2024 23.55 18.93 LU0480534592
Class A4 USD 76.81 0.34 0.44 14/Oct/2024 77.22 62.53 LU0724617625
Class I2 EUR 84.61 0.55 0.65 14/Oct/2024 84.61 69.56 LU1653088838
Class D2 Hedged GBP 42.71 0.19 0.45 14/Oct/2024 42.92 34.34 LU0827880344
Class A2 Hedged HKD 18.65 0.08 0.43 14/Oct/2024 18.77 15.19 LU0788109477
Class I2 Hedged EUR 51.59 0.23 0.45 14/Oct/2024 51.88 41.91 LU0368231949
Class I2 Hedged SGD 19.82 0.09 0.46 14/Oct/2024 19.93 16.15 LU0810842038
Class D2 Hedged PLN 25.65 0.11 0.43 14/Oct/2024 25.77 20.58 LU0827880427
Class A2 Hedged CNH 179.87 0.83 0.46 14/Oct/2024 181.05 148.90 LU1062906877
Class D2 Hedged AUD 24.21 0.11 0.46 14/Oct/2024 24.33 19.68 LU0827880187
Class D4 EUR 70.94 0.46 0.65 14/Oct/2024 70.99 59.47 LU0827880005
Class A2 Hedged AUD 22.12 0.10 0.45 14/Oct/2024 22.23 18.11 LU0468326631
Class D4 Hedged EUR 41.70 0.19 0.46 14/Oct/2024 41.95 34.56 LU0827880773
Class D2 Hedged SGD 19.80 0.09 0.46 14/Oct/2024 19.92 16.12 LU0827880690
Class A2 HUF 29,643.44 147.16 0.50 14/Oct/2024 29,643.44 23,463.25 LU0566074125

Portfolio Managers

Portfolio Managers

Rick Rieder
Managing Director, CIO of Global Fixed Income

  

Russ Koesterich
Managing Director

Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team and the lead portfolio manager of the GA Selects Model Portfolios.

Literature

Literature