Multi Asset

BGF Global Multi-Asset 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.

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

Performance chart data not available for display.
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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 8 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -2.8 4.2 6.4 -7.5 10.0 3.4 4.8 -15.5
Constraint Benchmark 1 (%) 0.3 5.9 12.4 -3.4 17.8 11.5 9.8 -14.4

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

  1y 3y 5y 10y Incept.
-0.34 -2.39 -0.86 - 0.07
Constraint Benchmark 1 (%) 6.16 2.20 4.65 - 4.73
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-2.14 -2.40 -5.85 -5.02 -0.34 -6.99 -4.23 - 0.66
Constraint Benchmark 1 (%) 4.17 -1.81 -5.97 -2.20 6.16 6.75 25.54 - 55.93
  From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
From
30-Sep-2022
To
30-Sep-2023
Total Return (%)

as of 30/Sep/2023

2.34 -0.71 10.08 -17.73 3.88
Constraint Benchmark 1 (%)

as of 30/Sep/2023

6.56 7.86 13.50 -15.65 11.81

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 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

Net Assets of Fund as of 29/Nov/2023 USD 4,669,509,638
Share Class launch date 19/Mar/2014
Fund Launch Date 28/Jun/2012
Share Class Currency EUR
Fund Base Currency USD
Asset Class Multi Asset
Constraint Benchmark 1 MSCI World Index (50%), Bloomberg Global Aggregate Bond Index USD Hedged (50%)
SFDR Classification Other
Initial Charge 5.00%
Ongoing Charges Figures 1.78%
ISIN LU0784383712
Annual Management Fee 1.50%
Performance Fee 0.00%
Minimum Initial Investment EUR 5,000.00
Minimum Subsequent Investment EUR 1,000.00
Use of Income Distributing
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category EUR Moderate Allocation - Global
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGMAA4G
SEDOL B80Z000

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 31/Oct/2023 3537
12 Month Trailing Dividend Distribution Yield as of 31/Oct/2023 6.32
Standard Deviation (3y) as of 31/Oct/2023 8.61%
3y Beta as of - -
P/E Ratio as of 31/Oct/2023 11.69
P/B Ratio as of 31/Oct/2023 1.34
Yield to Maturity as of 31/Oct/2023 9.99
Modified Duration as of 31/Oct/2023 3.42
Effective Duration as of 31/Oct/2023 2.82
Weighted Avg Maturity as of 31/Oct/2023 4.87

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

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

Ratings

Holdings

Holdings

as of 31/Oct/2023
Name Weight (%)
ISH MSCI USA Qty Div ESG UCITS ETF 3.52
ISH US MBS ETF USD DIST 3.25
BGF USD HIGH YIELD BD X6 USD 0.88
ISHARES $ CORPORATE BOND UCITS ETF 0.85
TAIWAN SEMICONDUCTOR MANUFACTURING 0.52
Name Weight (%)
MICROSOFT CORP 0.40
SHELL PLC 0.31
UNH ROYAL BANK OF CANADA 8.7111/28/2023 0.31
MSFT UBS AG (LONDON BRANCH) 11.412/6/2023 0.30
REGT12-19_12-R AR 144A 0.29
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/Oct/2023

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2023

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
Sorry, maturities are not available at this time.
as of 31/Oct/2023

% 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 A4G Hedged EUR 6.44 0.04 0.63 29/Nov/2023 6.96 6.07 LU0784383712
Class A6 Hedged JPY 998.00 8.00 0.81 29/Nov/2023 1,003.00 946.00 LU2655523079
Class A6 Hedged EUR 6.26 0.04 0.64 29/Nov/2023 6.69 5.93 LU1133085917
Class A6 Hedged HKD 74.48 0.53 0.72 29/Nov/2023 78.86 70.42 LU0784385170
Class I2 USD 13.15 0.09 0.69 29/Nov/2023 13.15 12.31 LU1523255922
Class A4G Hedged CHF 6.97 0.05 0.72 29/Nov/2023 7.66 6.59 LU1373034260
Class A6 Hedged CHF 10.01 0.08 0.81 29/Nov/2023 10.03 9.49 LU2655523152
Class A5G USD 8.50 0.06 0.71 29/Nov/2023 8.89 8.00 LU0784383803
Class D2 Hedged EUR 11.29 0.08 0.71 29/Nov/2023 11.43 10.63 LU1062843344
Class A6 USD 7.91 0.06 0.76 29/Nov/2023 8.26 7.47 LU0784384876
Class A2 USD 14.72 0.11 0.75 29/Nov/2023 14.72 13.84 LU0784385840
Class A4G USD 8.33 0.06 0.73 29/Nov/2023 8.83 7.84 LU1301847155
Class A3G EUR 7.75 0.05 0.65 29/Nov/2023 8.31 7.59 LU1238068834
Class I2 Hedged EUR 10.38 0.07 0.68 29/Nov/2023 10.49 9.78 LU1523256144
Class A8 Hedged AUD 7.69 0.06 0.79 29/Nov/2023 8.04 7.27 LU0871640123
Class D2 Hedged CHF 11.09 0.08 0.73 29/Nov/2023 11.41 10.47 LU1373034187
Class D4G Hedged CHF 7.46 0.06 0.81 29/Nov/2023 8.14 7.04 LU1373034344
Class A2 Hedged CHF 10.38 0.07 0.68 29/Nov/2023 10.76 9.81 LU0784383472
Class D6 Hedged SGD 9.38 0.06 0.64 29/Nov/2023 9.85 8.87 LU2472302624
Class A8 Hedged CNH 79.35 0.56 0.71 29/Nov/2023 84.03 75.02 LU1257007564
Class A2 Hedged EUR 10.41 0.08 0.77 29/Nov/2023 10.61 9.81 LU0784383399
Class D2 USD 15.65 0.11 0.71 29/Nov/2023 15.65 14.68 LU0784385337
Class I5G Hedged EUR 7.18 0.05 0.70 29/Nov/2023 7.59 6.76 LU1129992480
Class A8 Hedged NZD 7.44 0.05 0.68 29/Nov/2023 7.73 7.03 LU0949170343
Class A5G Hedged SGD 7.18 0.06 0.84 29/Nov/2023 7.62 6.76 LU0784384363
Class D6 USD 8.67 0.06 0.70 29/Nov/2023 9.00 8.19 LU1003077408
Class X5G GBP Hedged GBP 8.70 0.06 0.69 29/Nov/2023 9.05 8.18 LU1877504073
Class A6 Hedged SGD 7.16 0.05 0.70 29/Nov/2023 7.60 6.78 LU0949170426
Class D4G Hedged EUR 7.29 0.05 0.69 29/Nov/2023 7.82 6.86 LU0944772804
Class A2 EUR 13.40 0.09 0.68 29/Nov/2023 13.62 12.97 LU1162516477
Class A8 Hedged GBP 7.28 0.05 0.69 29/Nov/2023 7.55 6.88 LU1003077663
Class A5G Hedged AUD 7.79 0.06 0.78 29/Nov/2023 8.27 7.34 LU0949170269
Class D6 Hedged GBP 7.93 0.05 0.63 29/Nov/2023 8.30 7.49 LU1791173633
Class A8 Hedged CAD 7.24 0.05 0.70 29/Nov/2023 7.59 6.85 LU1003077580

Portfolio Managers

Portfolio Managers

Alex Shingler
CFA, Managing Director

  

Justin Christofel
CFA, CAIA, Managing Director

  

Literature

Literature