Multi Asset

BGF Global Allocation Fund

  • NAV as of 21/Nov/2024 HKD 103.38
    52 WK: 95.86 - 106.05
  • 1 Day NAV Change as of 21/Nov/2024 0.49 (0.48%)

Overview

Investment Approach


The Fund aims to maximise the return on your investment through a combination of capital growth and income on the Fund’s assets.

The Fund invests globally at least 70% of its total assets in equity securities (e.g. shares) and fixed income (FI) securities in normal market conditions. FI securities include bonds and money market instruments (i.e. debt securities with short term maturities). It may also hold deposits and cash.

Subject to the above, the asset classes and the extent to which the Fund is invested in these may vary without limit depending on market conditions.

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Chart

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Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

Distributions

Ex-Date Total Distribution
View full table
Ex-Date Total Distribution
For more information: +44 (0) 20 7743 3300 • www.blackrock.com • investor.services@blackrock.com

This chart shows the fund's performance as the percentage loss or gain per year over the last 0 years.

  2019 2020 2021 2022 2023
Total Return (%)
Target Benchmark 1 (%)

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

  1y 3y 5y 10y Incept.
Total Return (%) 19.32 - - - 7.28
Target Benchmark 1 (%) 22.06 - - - 10.13
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 7.01 -2.43 0.79 4.92 19.32 - - - 9.42
Target Benchmark 1 (%) 9.13 -2.69 1.24 7.89 22.06 - - - 13.16
  From
30-Sept-2019
To
30-Sept-2020 		From
30-Sept-2020
To
30-Sept-2021 		From
30-Sept-2021
To
30-Sept-2022 		From
30-Sept-2022
To
30-Sept-2023 		From
30-Sept-2023
To
30-Sept-2024
Total Return (%)

as of 30/Sept/2024

- - - - 19.36
Target Benchmark 1 (%)

as of 30/Sept/2024

- - - - 22.87

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in HKD, hedged share class benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund
as of 21/Nov/2024
USD 15,202,652,780
Fund Launch Date
03/Jan/1997
Fund Base Currency
USD
Target Benchmark 1
S&P 500 (36%); FTSE World (ex-US) (24%); 5 Yr US Treasury Note (24%) and FTSE Non-USD World Government Bond Index (16%)
Initial Charge
5.00%
Management Fee
1.50%
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGFGBAH
Share Class launch date
19/Jul/2023
Share Class Currency
HKD
Asset Class
Multi Asset
SFDR Classification
Other
Ongoing Charges Figures
1.78%
ISIN
LU2637965430
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BNDC230

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/Oct/2024
1246
3y Beta
as of -
-
Average Market Cap (Millions)
as of 31/Oct/2024
USD 611,528.42
Effective Duration Fixed Income
as of 31/Oct/2024
6.50
12 Month Trailing Dividend Distribution Yield
as of 31/Oct/2024
5.67
Equity Price/Earnings (FY1)
as of 31/Oct/2024
19.79
Effective Duration
as of 31/Oct/2024
1.87
Effective Duration Fixed Income and Cash
as of 31/Oct/2024
4.93

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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Holdings

Holdings

as of 31/Oct/2024
Name Weight (%)
MICROSOFT CORP 2.67
NVIDIA CORP 2.43
APPLE INC 2.05
AMAZON COM INC 1.81
ALPHABET INC CLASS C 1.56
Name Weight (%)
META PLATFORMS INC CLASS A 0.97
MASTERCARD INC CLASS A 0.87
JPMORGAN CHASE & CO 0.86
UNITEDHEALTH GROUP INC 0.85
WALMART INC 0.80
as of 31/Oct/2024
Name Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 2.3 02/15/2033 1.95
TREASURY NOTE 4.125 07/31/2028 1.29
UK CONV GILT 1.25 07/22/2027 1.28
AUSTRALIA (COMMONWEALTH OF) 1 11/21/2031 1.15
GERMANY (FEDERAL REPUBLIC OF) 1.7 08/15/2032 1.11
Name Weight (%)
MEXICO (UNITED MEXICAN STATES) (GO 5.75 03/05/2026 0.83
TREASURY NOTE 4 06/30/2028 0.80
TREASURY NOTE 4.875 10/31/2028 0.63
TREASURY NOTE 5 09/30/2025 0.48
TREASURY NOTE 5 10/31/2025 0.47
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/2024

% of Market Value

Type Fund Benchmark Net
as of 31/Oct/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.


% of Net Assets represents the Fund’s exposure based on the economic value of securities and is adjusted for futures, options, and swaps (except with respect to fixed income securities), and convertible bonds.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Class A10 Hedged HKD 103.38 0.49 0.48 21/Nov/2024 106.05 95.86 LU2637965430
Class A10 Hedged AUD 10.18 0.05 0.49 21/Nov/2024 10.45 9.53 LU2637965869
Class A9 USD 9.54 0.05 0.53 21/Nov/2024 9.74 8.50 LU2354320561
Class A2 Hedged CHF 14.16 0.07 0.50 21/Nov/2024 14.44 12.75 LU0343169966
Class A9 Hedged SGD 9.12 0.04 0.44 21/Nov/2024 9.33 8.28 LU2354320645
Class D4 GBP 60.82 0.33 0.55 21/Nov/2024 60.82 53.24 LU1852330908
Class A10 Hedged ZAR 103.04 0.53 0.52 21/Nov/2024 105.81 95.59 LU2637965943
Class A2 Hedged EUR 45.06 0.21 0.47 21/Nov/2024 45.80 39.76 LU0212925753
Class A10 Hedged SGD 10.25 0.05 0.49 21/Nov/2024 10.52 9.55 LU2637965513
Class A2 EUR 75.98 0.30 0.40 21/Nov/2024 75.98 63.26 LU0171283459
Class A4 Hedged EUR 40.97 0.20 0.49 21/Nov/2024 41.64 36.54 LU0240613025
Class A2 Hedged SGD 17.80 0.08 0.45 21/Nov/2024 18.10 15.72 LU0308772762
Class A2 Hedged PLN 23.25 0.11 0.48 21/Nov/2024 23.55 20.14 LU0480534592
Class A9 Hedged AUD 9.00 0.04 0.45 21/Nov/2024 9.19 8.15 LU2354320728
Class A10 Hedged EUR 10.34 0.04 0.39 21/Nov/2024 10.60 9.56 LU2637965786
Class D2 Hedged EUR 51.21 0.25 0.49 21/Nov/2024 51.98 44.84 LU0329591480
Class A2 Hedged GBP 38.71 0.19 0.49 21/Nov/2024 39.25 33.71 LU0236177068
Class A4 EUR 72.29 0.29 0.40 21/Nov/2024 72.29 60.83 LU0408221512
Class A10 Hedged CNH 100.51 0.49 0.49 21/Nov/2024 103.53 95.07 LU2637965604
Class D2 USD 90.95 0.43 0.48 21/Nov/2024 92.12 78.22 LU0329592538
Class A10 USD 10.44 0.05 0.48 21/Nov/2024 10.71 9.61 LU2637965356
Class A2 Hedged AUD 21.91 0.10 0.46 21/Nov/2024 22.23 19.29 LU0468326631
Class A2 HUF 31,169.32 148.30 0.48 21/Nov/2024 31,169.32 23,897.25 LU0566074125
Class D2 EUR 86.32 0.34 0.40 21/Nov/2024 86.32 71.35 LU0523293024
Class D2 Hedged PLN 25.48 0.13 0.51 21/Nov/2024 25.77 21.90 LU0827880427
Class D4 EUR 72.95 0.30 0.41 21/Nov/2024 72.95 61.36 LU0827880005
Class I2 EUR 87.03 0.35 0.40 21/Nov/2024 87.03 71.78 LU1653088838
Class I2 USD 91.69 0.44 0.48 21/Nov/2024 92.84 78.69 LU0368249560
Class D2 Hedged GBP 42.37 0.20 0.47 21/Nov/2024 42.92 36.63 LU0827880344
Class I2 Hedged EUR 51.12 0.25 0.49 21/Nov/2024 51.88 44.66 LU0368231949
Class D2 Hedged CHF 15.52 0.07 0.45 21/Nov/2024 15.82 13.88 LU0827880260
Class A2 Hedged HKD 18.48 0.08 0.43 21/Nov/2024 18.77 16.20 LU0788109477
Class D2 Hedged SGD 19.61 0.09 0.46 21/Nov/2024 19.92 17.18 LU0827880690
Class A4 USD 76.16 0.36 0.47 21/Nov/2024 77.22 66.70 LU0724617625
Class A2 USD 80.05 0.38 0.48 21/Nov/2024 81.17 69.37 LU0072462426
Class I2 Hedged SGD 19.64 0.10 0.51 21/Nov/2024 19.93 17.21 LU0810842038
Class A2 Hedged CNH 177.64 0.86 0.49 21/Nov/2024 181.05 158.54 LU1062906877
Class D4 Hedged EUR 41.30 0.19 0.46 21/Nov/2024 41.95 36.82 LU0827880773
Class D2 Hedged AUD 24.00 0.11 0.46 21/Nov/2024 24.33 20.97 LU0827880187

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Managing Director, CIO of Global Fixed Income

  

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Rick Rieder, 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. Mr. Rieder is responsible for roughly $2.4 trillion in assets. He is a member of BlackRock’s Executive Sub-Committee on Investments, a member of BlackRock's Global Operating Committee, and Chairman of the firm-wide BlackRock Investment Council.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and member of the Federal Reserve’s Investment Advisory Committee on Financial Markets.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was nominated for Outstanding Portfolio Manager by Morningstar in 2021, was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013. Four of the funds Mr. Rieder manages (Strategic Income Opportunities, Fixed Income Global Opportunities, Total Return, and Strategic Global Bond) have been awarded Gold Medals by Morningstar.

 

From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta.

 

Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program.

 

Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, New Jersey, and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation, and Trustee for the US Olympic Foundation. Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

Russ Koesterich
Russ Koesterich
Managing Director

Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team and the lead portfolio manager of the GA Selects Model Portfolios.

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Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team and the lead portfolio manager of the GA Selects Model Portfolios.

 

Mr. Koesterich's service with BlackRock dates back to 2005, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. He joined the BlackRock Global Allocation team in 2016 as Head of Asset Allocation and was named a portfolio manager of the Fund in 2017. Previously, he was BlackRock's Global Chief Investment Strategist and Chairman of the Investment Committee for the Model Portfolio Solutions business, and formerly served as the Global Head of Investment Strategy for scientific active equities and as senior portfolio manager in the US Market Neutral Group. Prior to joining BGI, Mr. Koesterich was the Chief North American Strategist at State Street Bank and Trust. He began his investment career at Instinet Research Partners where he occupied several positions in research, including Director of Investment Strategy for both U.S. and European research, and Equity Analyst. He is a frequent contributor to financials news media and the author of three books, including his most recent “Portfolio Construction for Today’s Markets.“

 

Mr. Koesterich earned a BA in history from Brandeis University, a JD from Boston College and an MBA from Columbia University. He is a CFA® Charterholder.

Literature

Literature