Equity

MREGX

Unconstrained Equity Fund

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y
26.95 10.65 14.18 9.48
Benchmark (%) 25.11 8.60 12.07 9.39
Morningstar Category Avg. (%) 17.03 0.19 9.29 9.12
Morningstar Ranking 124/354 9/322 24/279 103/188
Morningstar Quartile 2 1 1 2
Lipper Category Avg. (%) 23.57 2.45 10.71 9.31
Lipper Ranking 68/197 4/188 15/177 68/123
Lipper Quartile 2 1 1 3
  YTD 1m 3m 1y 3y 5y 10y
11.75 2.30 11.75 26.95 35.47 94.07 147.41
Benchmark (%) 8.88 3.21 8.88 25.11 28.10 76.81 145.42
Morningstar Category Avg. (%) 4.46 -4.34 3.94 17.03 0.67 56.03 139.41
Lipper Category Avg. (%) 8.93 2.89 8.93 23.57 8.54 67.17 146.42
  2019 2020 2021 2022 2023
Total Return (%) 31.84 21.19 19.82 -20.72 32.69
Benchmark (%) 27.67 15.90 21.82 -18.14 23.79
Morningstar Category Avg. (%) 30.40 32.67 12.84 -27.90 23.64

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

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. The performance information for periods prior to the inception date of the share class is based on the Fund’s Institutional Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

 

The Fund's returns between October 15, 2012 and March 1, 2022 are the returns of the Fund when it followed different investment strategies and investment process under the name "BlackRock Long-Horizon Equity Fund.” The Fund’s returns prior to October 15, 2012 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Global Dynamic Equity Fund.” Effective March 1, 2022, in connection with the change of investment objective, investment strategies and investment process of the Fund, the MSCI World Index replaced the MSCI ACWI as the performance benchmark against which the Fund measures its performance.

Key Facts

Key Facts

Size of Class (Millions)
as of Jun 11, 2024
$0.8 M
Share Class launch date
Feb 28, 2007
Morningstar Category
Global Large-Stock Growth
Benchmark Index
MSCI World Net TR Index
Distribution Frequency
Annual
Max Offer Price
as of Jun 11, 2024
$14.50
Turnover Percent in the Annual Report
as of Apr 30, 2023
27.00%
Size of Fund (Millions)
as of Jun 11, 2024
$1,205.9 M
Asset Class
Equity
Lipper Classification
Global Large-Cap Growth
CUSIP
09251W502
Number of Holdings
as of May 31, 2024
20
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

P/B Ratio
as of May 31, 2024
9.84
Average Market Cap (Millions)
as of May 31, 2024
$ 651,114.9 M
R-Squared (3y)
as of Feb 28, 2022
93.03
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
20.73%
Fund Standard Deviation (3y)
as of Feb 28, 2022
17.54
P/E Ratio - Forward
as of May 31, 2024
34.75
Alpha (3y)
as of Feb 28, 2022
0.23
Beta (3y)
as of Feb 28, 2022
0.99
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-18.90%
Active Share
as of May 31, 2024
86.42%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more

This fund seeks to follow a sustainable, impact or ESG investment strategy, as disclosed in its prospectus. For more information regarding the fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of May 19, 2024
AA
MSCI ESG Quality Score (0-10)
as of May 19, 2024
7.3
Fund Lipper Global Classification
as of May 19, 2024
Equity Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of May 19, 2024
15.09
MSCI ESG % Coverage
as of May 19, 2024
97.75%
MSCI ESG Quality Score - Peer Percentile
as of May 19, 2024
68.16%
Funds in Peer Group
as of May 19, 2024
5,574
MSCI Weighted Average Carbon Intensity % Coverage
as of May 19, 2024
97.48%
All data is from MSCI ESG Fund Ratings as of May 19, 2024, based on holdings as of Jan 31, 2024. 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% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage 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.

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. 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 -
-
MSCI - Nuclear Weapons
as of -
-
MSCI - Civilian Firearms
as of -
-
MSCI - Tobacco
as of -
-
MSCI - UN Global Compact Violators
as of -
-
MSCI - Thermal Coal
as of -
-
MSCI - Oil Sands
as of -
-

Business Involvement Coverage
as of -
-
Percentage of Fund not covered
as of -
-
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 -% and for Oil Sands -%.

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 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 phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. 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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.68%
Net Expense Ratio 1.45%

Net Expense Ratio excluding Investment Related Expenses is 1.45%

  • Acquired Fund Fees and Expenses 0.00%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Unconstrained Equity Fund, Retirement, as of May 31, 2024 rated against 314 Global Large-Stock Growth Funds based on risk adjusted total return.

Lipper Leader

 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of May 31, 2024 out of 190, 12,354, 190, 109 and 190 Funds, respectively in Lipper's Global Large-Cap Growth classification.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective Jun 21, 2023)

Holdings

Holdings

as of May 31, 2024
Name Weight (%)
MICROSOFT CORPORATION 9.44
NOVO NORDISK A/S 9.37
ASML HOLDING NV 9.27
CADENCE DESIGN SYSTEMS INC 6.23
ALPHABET INC 5.05
Name Weight (%)
THERMO FISHER SCIENTIFIC INC 4.84
MASTERCARD INC 4.80
FERRARI NV 4.74
S&P GLOBAL INC 4.69
META PLATFORMS INC 4.68
Name Weight (%) Shares Market Value
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% of Market Value

Type Fund Benchmark Net
as of May 31, 2024

% 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.

Portfolio Managers

Portfolio Managers

Alister Hibbert
Managing Director

    

Michael Constantis
Managing Director

    

Portfolio Manager

Literature

Literature

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