MONTHLY COMMENTARY

Global Allocation Fund

March 11, 2021

Higher interest rates don’t necessarily mean lower stock prices.

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 generated a positive return but underperformed its reference benchmark in March as expectations of a rapidly improving economy pressured the long end of the Treasury curve and growth-oriented sectors.
  • Given the supportive macro backdrop, we maintain an overweight to equities, exposure to credit for income, and a diversified portfolio of hedges to manage the overall risk profile.

View Fund Commentary

The fund has outperformed global stocks with less volatility

 

ga monthly

 

Source: BlackRock, Bloomberg, as of 3/31/21. 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 9.78% for the fund and 15.28% 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.

Rick Rieder
Rick Rieder
Chief Investment Officer of Global Fixed Income and Head of the Global Allocation Team
Russ Koesterich, CFA, JD
Russ Koesterich, CFA, JD
Portfolio Manager,
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, ...
David Clayton, CFA, JD
David Clayton, CFA, JD
Portfolio Manager,
BlackRock Global Allocation Team
David Clayton, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team.   Mr. Clayton joined the BlackRock Global Allocation team in ...
Kate Moore
Kate Moore
Head of Thematic Strategy,
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 ...

Global Allocation Resources

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