Multi Asset

BlackRock Balanced Growth Portfolio Fund

  • Bid price as of 03/Jun/2024 GBP 1.98
  • Offer price as of 03/Jun/2024 GBP 1.99
  • Morningstar Rating

Overview

Investment Approach

The Fund aims to provide a return on your investment (generated through an increase in the value of the assets held by the Fund) with the opportunity for additional income generation (i.e. income received on the Fund’s assets) where market conditions allow. The Fund may invest globally in equity securities (e.g. shares), fixed income securities (such as bonds), money-market instruments (i.e. debt securities with short-term maturities), funds and cash (in any currency). The fixed income securities and money-market instruments may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development).

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 value of your investment and the income from it will vary and your initial investment amount is not guaranteed.


Some or all of the Manager’s annual charge for the Fund is taken from capital rather than from income. This increases the income, but reduces the potential for capital growth. Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.

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

The Fund uses derivatives as part of its investment strategy. Compared to a fund which only invests in traditional instruments such as stocks and bonds, derivatives are potentially subject to a higher level of risk.
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Performance

Performance

Chart

View full chart

This chart shows the fund's performance as the percentage loss or gain per year over the last 9 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 3.9 11.2 11.6 -5.2 18.1 12.0 14.8 -9.9 8.6
Constraint Benchmark 1 (%) 3.3 24.3 9.4 -2.7 16.8 5.0 14.2 -4.6 10.1
Comparator Benchmark 2 (%) 2.8 13.3 10.0 -6.1 15.9 5.4 11.1 -10.1 8.1

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 (%) 10.09 3.21 6.96 7.04 6.91
Constraint Benchmark 1 (%) 10.35 5.79 6.94 8.33 -
Comparator Benchmark 2 (%) 9.39 2.36 4.61 5.64 -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 4.31 -0.57 4.17 14.41 10.09 9.95 40.00 97.43 96.14
Constraint Benchmark 1 (%) 4.08 -1.00 4.30 12.01 10.35 18.38 39.84 122.52 -
Comparator Benchmark 2 (%) 4.10 -0.70 4.18 12.95 9.39 7.24 25.29 73.09 -
  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

-1.94 30.14 6.81 -4.00 11.67
Constraint Benchmark 1 (%)

as of 31/Mar/2024

-5.60 23.77 10.08 0.13 12.20
Comparator Benchmark 2 (%)

as of 31/Mar/2024

-7.73 26.42 5.29 -4.60 10.83

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 GBP.

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 31/May/2024
GBP 318,758,959
Fund Launch Date
01/Feb/1989
Fund Base Currency
GBP
Constraint Benchmark 1
30% FTSE All Share Index 45% FTSE World ex-UK Index and 25% Barclays Global Aggregate Index
Investment Association Category
Mixed Investment 40-85% Shares
Ongoing Charges Figures
0.75%
Annual Management Fee
0.67%
Minimum Initial Investment
GBP 50,000,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
GBP Allocation 60-80% Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
BK1PJY0
Share Class launch date
28/Mar/2014
Share Class Currency
GBP
Asset Class
Multi Asset
Comparator Benchmark 2
IA OE Mixed Investment 40%-85% Shares sector
Initial Charge
5.00%
ISIN
GB00BK1PJY07
Performance Fee
0.00%
Minimum Subsequent Investment
GBP 50.00
Domicile
United Kingdom
Management Company
BlackRock Fund Managers Ltd
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BRBGPSA
Ongoing Charges Figure ex. Discount
0.75%
The Ongoing Charge may be discounted depending on the size of the fund.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30/Apr/2024
241
3y Beta
as of 31/Dec/2019
1.132
P/B Ratio
as of 30/Apr/2024
2.12
Modified Duration
as of 30/Apr/2024
0.81
Weighted Avg Maturity
as of 30/Apr/2024
0.71
Standard Deviation (3y)
as of 30/Apr/2024
8.90%
P/E Ratio
as of 30/Apr/2024
17.65
Yield to Maturity
as of 30/Apr/2024
0.72
Effective Duration
as of 30/Apr/2024
0.81

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 incorporates ESG considerations throughout the investment process' macro outlook, idea generation, implementation tools, portfolio construction, risk management, ongoing monitoring and reporting. All research ideas generated for the Fund consider the potential impact from ESG-associated risks when appropriate, and these are documented as part of the investment process. Idea implementation uses a wide range of building blocks, including active mutual funds, index funds, ETFs, direct securities, derivatives, and third-party funds. The Fund manager reviews research ideas and asset allocation on a regular basis and reassesses the building blocks utilized to access research ideas. The choice of building block may be informed by ESG considerations. For strategies with an explicit ESG objective, certain building blocks are used to comply with those guidelines. Where an ESG focused building block becomes available, it may be considered as a replacement for standard market exposure when appropriate. Both the extent and impact of screens and integration may be considered in the context of the investment objective / investment style of particular strategies. The Fund manager may also build bespoke thematic baskets of securities, which are subject to BlackRock baseline screens in the first instance and where appropriate, additional screening criteria. The Fund manager may use E, S, and G criteria such as headline ESG and carbon footprint during the reporting phase. These are sourced from Aladdin or directly from third-party data providers, where available. The Fund manager conducts regular risk reviews between the investment team and BlackRock's Risk and Quantitative Analysis group as well as portfolio reviews with Chief Investment Officers. 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

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2
3
4
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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 BlackRock Balanced Growth Portfolio Fund, Class S, as of 31/May/2024 rated against 1131 GBP Allocation 60-80% Equity Funds.

Holdings

Holdings

as of 30/Apr/2024
Name Weight (%)
BGF US FLEXIBLE EQ X2 USD 8.71
BLACKROCK CONTINENTAL EURO X ACC 7.63
BLACKROCK UK SMALLER COS X ACC 7.09
ISHARES CORE S&P 500 UCITS ETF USD 5.14
GLOB UNCONSTRAINED EQ UK X GBP ACC 4.89
Name Weight (%)
BGF SUST WORLD BOND FD I2 USD 2.87
BGF Emerging Markets Fund X2 USD 2.52
BGF JAPAN FLEX EQ FUND X2 JPY 2.50
ISHARES GLOBAL AGGREGATE BON GBP H 2.49
ASTRAZENECA PLC 2.34
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.
Sorry, geographic exposures are not available at this time.
as of 30/Apr/2024

% of Market Value

Type Fund Benchmark Net
Due to the use of derivatives, reported asset allocation may not be fully reflective of the risk profile of the fund’s market exposure. Allocations subject to change.
Sorry, maturities are not available at this time.
Sorry, ratings are not available at this time.
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 Bid Price Offer Price ISIN
Class S GBP 1.98 1.99 GB00BK1PJY07
Class D GBP 5.08 5.10 GB00B7XQBS82
Class D GBP 2.09 2.10 GB00B7FKHX53
Class A GBP 4.72 4.74 GB0005810774
Class A GBP 1.94 1.95 GB0005810667
Class S GBP 1.59 1.60 GB00BK1PK815

Portfolio Managers

Portfolio Managers

Adam Ryan
Adam Ryan
Managing Director and portfolio manager

Head of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing investment strategies involving multiple asset classes.

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Adam Ryan, Managing Director and portfolio manager, is Head of the Diversified Strategies team within BlackRock's Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing investment strategies involving multiple asset classes. Mr. Ryan is the lead portfolio manager of the charities funds; Charities Growth & Income Fund, Armed Forces Common Investment Fund and Charifaith Common Investment Fund. Adam is also the lead portfolio manager of the BlackRock Dynamic Diversified Growth (DDG) strategy.

Mr Ryan's service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. His background is in fixed income portfolio management where he was Head of Fixed Income for MLIM's Private Client business before developing and managing diversified multi-asset portfolios for both private and institutional clients.

Mr. Ryan earned a BA degree with honours in engineering from Cambridge University in 1991.

Conan McKenzie
Conan McKenzie
CFA, Managing Director and portfolio manager

Member of the Diversified Strategies team within BlackRock’s Multi-Asset Strategies and Solutions (MASS) group.

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Conan McKenzie, CFA, Managing Director and portfolio manager, Member of the Diversified Strategies team within BlackRock’s Multi-Asset Strategies and Solutions (MASS) group. Within Diversified Strategies, Mr. McKenzie is involved in managing both benchmarked and outcome oriented funds. As with Mr. Ryan, Mr. McKenzie has portfolio management responsibilities across the charities funds and DDG. Conan has been a portfolio manager on the charities funds since April 2013. He also leads the team's ESG research agenda that drives the potential for ESG-related thematic investments, as well as alternative investment opportunities and third party manager research.

Mr. McKenzie holds a MA degree in History & Politics from the University of Oxford, and is a CFA Charterholder. His service with the firm dates back to 2011.

Jason Byrom
Jason Byrom
Director and portfolio manager

Member of the Diversified Strategies team within the Multi-Asset Strategies & Solutions team.

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Member of the Diversified Strategies team within the Multi-Asset Strategies & Solutions team. The Multi-Asset Strategies & Solutions (MASS) team is the investment group at the heart of BlackRock's portfolio construction, asset allocation, and active management ecosystem. MASS draws on the full toolkit of BlackRock's index, factor, and alpha-seeking investment capabilities to deliver precise investment outcomes and cutting-edge alpha insights. MASS constructs active asset allocation strategies and whole portfolio solutions across a wide spectrum of commingled funds, separate accounts, model portfolios, and outsourcing solutions in the wealth and institutional channels. Jason is the lead portfolio manager for the benchmark relative and advisory mandates which are managed on behalf of pension funds, advisory and retail clients.

Jason's service with the firm dates back to 1998, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. In 2013 he left BlackRock to work on solutions structures and portfolio construction with Canopius, a specialist insurance company. Jason re-joined BlackRock as part of the Diversified Strategies team in 2015. Prior to joining MLIM, Mr. Byrom spent seven years in the engineering industry.

Jason earned a BSc degree, with first class honours, in control engineering from City University in 1990 and an MSc degree in mathematical trading and finance from Cass Business School in 1998.

Literature

Literature