Equity

MREGX

Unconstrained Equity Fund

  • NAV as of Dec 04, 2025 $15.89
    52 WK: 11.72 - 16.29
  • 1 Day NAV Change as of Dec 04, 2025 $-0.03 (-0.19%)
  • NAV Total Return as of Dec 04, 2025 YTD: 13.26%

Overview

About this Fund

  • A Long-Term Equity Fund Solution
  • Highly-Researched, Low-Turnover Approach
  • Seeking Long-Term Growth

Investment Approach

This funds seeks long-term portfolio growth through its unconstrained approach across benchmarks, sectors, market caps, countries and styles.
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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 7.36 21.01 11.55 10.72
Benchmark (%) 17.25 23.72 14.41 12.43
Morningstar Category Avg. (%) 18.91 20.05 10.10 11.60
Morningstar Ranking 253/263 184/249 90/231 149/154
Morningstar Quartile 4 3 2 4
Lipper Category Avg. (%) 17.50 22.01 9.88 12.32
Lipper Ranking 168/202 129/196 47/189 106/137
Lipper Quartile 4 3 1 4
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 11.26 2.23 2.09 7.36 77.19 72.72 176.83
Benchmark (%) 17.43 3.21 7.27 17.25 89.35 96.04 222.60
Morningstar Category Avg. (%) 17.01 1.58 6.22 18.91 80.34 58.16 217.51
Lipper Category Avg. (%) 17.00 2.98 5.55 17.50 82.69 61.63 223.54
  2020 2021 2022 2023 2024
Total Return (%) 21.19 19.82 -20.72 32.69 7.02
Benchmark (%) 15.90 21.82 -18.14 23.79 18.67
Morningstar Category Avg. (%) 32.67 12.84 -27.90 23.64 15.47

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.

Click here for historical distribution data and here for upcoming distribution estimates

Key Facts

Key Facts

Size of Fund (Millions)
as of Dec 04, 2025
$980.0 M
Share Class launch date
Feb 28, 2007
Benchmark Index
MSCI World Index (Net)
Lipper Classification
Global Large-Cap Growth
Max Offer Price
as of Dec 04, 2025
$15.89
Turnover Percent in the Annual Report
as of Apr 30, 2025
62.00%
Size of Class (Millions)
as of Dec 04, 2025
$0.7 M
Asset Class
Equity
Morningstar Category
Global Large-Stock Growth
CUSIP
09251W502
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2025
20
P/E Ratio - Forward
as of Oct 31, 2025
32.86
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Feb 28, 2022
17.54
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
20.73%
Active Share
as of Oct 31, 2025
50.00%
P/B Ratio
as of Oct 31, 2025
11.27
Alpha (3y)
as of Feb 28, 2022
0.23
R-Squared (3y)
as of Feb 28, 2022
93.03
Beta (3y)
as of Feb 28, 2022
0.99
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-9.43%

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

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.49%
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 Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Jul 14, 2025)
Analyst-Driven % as of Jul 14, 2025
100.00
Data Coverage % as of Jul 14, 2025
100.00

Holdings

Holdings

as of Oct 31, 2025
Name Weight (%)
MICROSOFT CORPORATION 8.61
VERTIV HOLDINGS CO 7.24
AMAZON.COM INC 7.12
ASML HOLDING NV 5.63
ALPHABET INC 5.34
Name Weight (%)
HOWMET AEROSPACE INC 5.02
BROADCOM INC 5.00
TRANE TECHNOLOGIES PLC 4.92
AIRBUS SE 4.83
CADENCE DESIGN SYSTEMS INC 4.68
Name Market Value Weight (%) Shares
Detailed Holdings and Analytics
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 Oct 31, 2025

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2025

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2025

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2025

% 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
Alister Hibbert
Head of Fundamental Equities’ Strategic Equity Team, Portfolio Manager, Managing Director

    

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Alister Hibbert, Managing Director, is Head of BlackRock's Strategic Equity Team within the Fundamental Equities division of BlackRock's Portfolio Management Group, and serves on BlackRock’s Global Operating Committee.

 

Mr. Hibbert is founder and co-portfolio manager of the BlackRock Strategic Equity Hedge Fund Strategy. Under his leadership, the Strategy has grown to be BlackRock’s flagship equity hedge fund, winning multiple awards including Eurohedge Fund of the Year. He is also founder and co-portfolio manager of the BlackRock Global Unconstrained Equity Strategy.

 

Prior to establishing the Strategic Equity Team in 2020, Mr. Hibbert was a senior member of BlackRock’s European Equity Team, helping build the dominant market-share-leading franchise in Europe, and personally managing over US$15bn in the European Dynamic Strategy. As portfolio manager of this Strategy, Mr. Hibbert was a platinum winner in the Portfolio Adviser Fund Awards on multiple occasions and won Lipper Europe awards for 10 consecutive years. He was admitted to the FE Alpha Manager Hall of Fame in 2019.

 

Mr. Hibbert joined BlackRock in 2008, having previously served as an investment director with Scottish Widows Investment Partnership from 2005 where he was responsible for continental European portfolios. Prior to this, Mr. Hibbert was a European equity portfolio manager with Oechsle International (2004-2005) and Invesco Perpetual (1996-2004). He began his career with accountants Ernst & Young in 1994.

 

Mr. Hibbert holds a Bachelor of Science degree in Economics from the University of Bristol, UK, where he frequently gives talks to current students interested in careers in financial services. He is the founder and chair of a children’s education foundation, assisting schools in unofficial settlements in Africa, and serves on the Development Committee of Caterham School, UK.

Michael Constantis
Michael Constantis
Managing Director

    

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Michael Constantis, CFA, Managing Director and portfolio manager, is a member of the Strategic Equity Team within the Fundamental Equity business of BlackRock's Portfolio Management Group. He is a founder and co-portfolio manager of the BlackRock Strategic Equity Hedge Fund Strategy. He also manages Global and European equity portfolios adopting an unconstrained investment style.

 

Mr. Constantis' service with the firm dates back to 2005, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Prior to joining MLIM, he was at Deutsche Asset Management, where he was a member of the Global Telecoms team, responsible for recommendations on major European telecom stocks.

 

Mr. Constantis earned a BSc degree in Economics from University College London in 2001.

Portfolio Manager

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

This fund does not seek to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature