The BlackRock Global Event Driven Fund seeks to achieve a positive absolute return for investors regardless of market movements. The Fund seeks to achieve this investment objective by taking long, synthetic long and synthetic short investment exposures on a global basis.
Under normal market conditions, the Fund will seek to gain at least 70% of its investment exposure through equities and equity-related securities. The Fund may also invest in fixed income transferable securities (including non-investment grade fixed income transferable securities), fixed income-related securities, units of undertakings for collective investment (including Exchange Traded Funds), derivatives and when determined appropriate, cash and near-cash instruments. The Fund intends to take full advantage of the ability to invest in derivatives providing synthetic long and synthetic short positions with the aim of maximising positive absolute returns. The asset allocation of the Fund is intended to be flexible and the Fund will maintain the ability to adjust its exposures as market conditions and other factors dictate. The currency exposure of the Fund is flexibly managed.
In order to achieve its investment objective and policy, the Fund will utilise a variety of investment strategies and instruments. In particular, the Fund will employ a fundamentally-driven investment process focussed on a broad spectrum of catalyst based investment opportunities. These catalysts range across a broad spectrum and include, but are not limited to, announced mergers and acquisitions, company offers, spinoffs and split-offs, financial and strategic restructuring and management changes. The Fund may use total return swaps and contracts for difference that have, in accordance with its investment policy, equities and equity-related securities as underlying assets. Investors should refer to Appendix G for more details on the expected and maximum portion of total return swaps and contracts for difference held by the Fund.