Multi-Asset
A flexible multi-asset strategy to seek better outcomes
It takes an experienced and well-resourced team to seek out the most attractive investment opportunities around the world while managing volatility. BlackRock Global Allocation Fund seeks returns competitive with global stocks over market cycles but with less risk.
Performance and positioning update
- The fund outperformed its benchmark as equity and bond markets retraced prior months gains.
- Moderate equity overweight, via secular growth companies with consistent profitability. Modest underweight to duration with bulk of bond exposure in spread assets. Cash, gold-related and derivatives as risk mitigants.
The fund has historically outperformed global stocks with less volatility
Source: BlackRock, Bloomberg, as of 10/31/24. Performance is based on a hypothetical investment of $10,000 in the fund and the FTSE World Index made the first month post inception (2/3/89). *Volatility for the same period, which is represented by annualized standard deviation, was 9.97% for the fund and 15.33% for global stocks. Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an index.
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Rick Rieder
Chief Investment Officer of Global Fixed Income and Head of the Global Allocation Team
Rick Rieder, Senior Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business and Head of the Global Allocation Investment Team.
Russ Koesterich
Portfolio Manager,
BlackRock Global Allocation Team
BlackRock Global Allocation Team
Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team. Mr. Koesterich's service with the firm dates back to 2005, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009.
Kate Moore
Head of Thematic Strategy,
BlackRock Global Allocation Team
BlackRock Global Allocation Team
Kate Moore, Managing Director, is a member of the Global Allocation investment team and Head of Thematic Strategy. Her investment mandate includes identifying opportunities to exploit structural change, policy evolution, and dislocations across global industries. She is a member of the Human Capital Committee.
I’m up at 3:45 every morning. I want to know where all the markets are. I work out for an hour then the day really gets going.
I’m Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock.
So my job is investing money for clients trying to generate returns using fixed income assets within portfolios. From being in this business for 35 years, you learn you got to be thoughtful, you got to innovate, you got to be different, and then apply that to the experience you have and the research that you’re doing.
Education for me is literally the foundation of everything. I’m chairman of the board of North Star Academy. It’s over 14 charter schools, serving 6,000 kids in the city of Newark. We started an internship program to bring high school kids in to help them with not just understanding markets, the economy, finance, but also understanding how you interface in business. We’re helping to change the future of thousands of underserved kids.
It gives you a real boost to see the difference you can make.
There’s a lot to do in a day, but when you start to see what you can get done, I think it’s safe to say that I won’t look back and wish I had slept more.
Meet Rick Rieder: Morningstar’s 2023 Outstanding Portfolio Manager
Rick Rieder, Chief Investment Officer of Global Fixed Income, has been awarded the 2023 Morningstar Award for Investing Excellence, Outstanding Portfolio Manager. Rick Rieder’s consistent approach to managing strategies like Strategic Income Opportunities, Total Return, Global Allocation and more have helped funds deliver long-term success.
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Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. Refer to blackrock.com for most recent month-end performance.
To obtain more information on the fund, including the Morningstar time period ratings and standardized average annual total returns as of the most recent calendar quarter and current month-end, please visit Global Allocation Fund.
The Morningstar RatingTM for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
*Source: BlackRock, Bloomberg. As of 10/31/2024. Volatility represented by annualized standard deviation of monthly returns for Institutional shares, all other share classes will vary, from first month-end after inception (2/3/89). Standard deviation for the fund: 9.97% and for global stocks: 15.33%. Performance based on annualized returns since fund inception. Annualized returns for the fund (institutional shares): 9.11% and for global stocks: 8.05%. Past performance is no guarantee of future results. Global stocks represented by the FTSE World Index.
Investing involves risk, including possible loss of principal.
The opinions expressed are those of the fund’s portfolio management team expressed as of November 19, 2024, and may change as subsequent conditions vary. Information and opinions are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. There is no guarantee that any of these views will come to pass. Reliance upon information in this material is at the sole discretion of the reader. Percent of net assets figures represent the Fund’s exposure based on the economic value of securities adjusted for futures, options, swaps and convertible bonds.
The fund is actively managed and its characteristics will vary.
Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions.
International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/ developing markets or in concentrations of single countries.
Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in the value of debt securities. Credit risk refers to the possibility that the debt issuer will not be able to make principal and interest payments.
Non-investment-grade debt securities (high-yield/junk bonds) may be subject to greater market fluctuations, risk of default or loss of income and principal than higher-rated securities.
Asset allocation and diversification may not protect against market risk, loss of principal or volatility of returns.
Short-selling entails special risks. If the fund makes short sales in securities that increase in value, the fund will lose value. Any loss on short positions may or may not be offset by investing short-sale proceeds in other investments.
The funds may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility.
BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings
Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained visiting the iShares ETF and BlackRock Mutual Fund prospectus pages. Read the prospectus carefully before investing.
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