Multi Asset

MDLOX

Global Allocation Fund

  • NAV as of Nov 15, 2024 $19.34
    52 WK: 17.38 - 19.96
  • 1 Day NAV Change as of Nov 15, 2024 -0.10 (-0.51%)
  • NAV Total Return as of Nov 18, 2024 YTD: 9.84%
  • Morningstar Rating

Overview

About this Fund

1. Unconstrained in search of opportunity
2. One of the most well-resourced multi-asset teams
3. Seeks returns competitive with global stocks with less volatility

Investment Approach

The Fund seeks to provide high total investment return through a fully managed investment policy utilizing U.S. and foreign equity, debt and money market securities, the combination of which will be varied from time to time both with respect to types of securities and markets in response to changing market and economic trends.

For more information read our monthly commentary
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Performance

Performance

  1y 3y 5y 10y Incept.
Total Return (%) 22.34 2.45 7.41 5.39 8.93
Return w/ Sales Charge (%) 15.92 0.62 6.26 4.83 8.77
Benchmark (%) 22.87 4.46 7.55 6.61 7.46
FTSE World Index 32.50 9.28 13.26 10.30 -
Morningstar Category Avg. (%) 19.60 2.08 5.36 4.51 -
Morningstar Ranking 140/354 265/340 90/327 90/244 -
Morningstar Quartile 2 3 2 2 -
Lipper Category Avg. (%) 21.14 3.97 6.89 5.52 -
Lipper Ranking 151/431 293/400 126/353 112/243 -
Lipper Quartile 2 3 2 2 -
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%) 11.37 1.71 4.94 22.34 7.53 42.97 69.08 2,011.90
Return w/ Sales Charge (%) 5.52 -3.64 -0.57 15.92 1.89 35.46 60.20 1,901.02
Benchmark (%) 12.15 1.63 6.27 22.87 14.00 43.87 89.63 1,199.80
Morningstar Category Avg. (%) 8.39 -2.39 0.92 19.60 11.80 34.97 60.06 -
Lipper Category Avg. (%) 11.83 1.55 5.18 21.14 12.69 40.81 74.51 -
FTSE World Index 18.68 1.80 6.38 32.50 30.51 86.36 166.47 -
  2019 2020 2021 2022 2023
Total Return (%) 17.21 20.79 6.45 -16.05 12.35
Annual w/ Sales Charge (%) 11.06 14.45 0.86 -20.45 6.45
Benchmark (%) 18.79 13.34 10.13 -15.59 15.69
Morningstar Category Avg. (%) 16.10 6.18 11.31 -12.34 10.72
FTSE World Index 27.74 16.33 20.95 -17.54 24.18

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.
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Explore fund performance

Explore how the Global Allocation Fund's diversified approach has grown a $10k investment in 1989 into over $100k today.
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Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 15, 2024
$16,783.3 M
Share Class launch date
Oct 21, 1994
Benchmark Index
36% S&P 500, 24% FTSE World (ex.US), 24% ICE BofA/ML Cur 5-yr US Treasury, 16% FTSE Non-USD WGBI
Morningstar Category
Global Allocation
CUSIP
09251T103
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 15, 2024
$8,437.7 M
Asset Class
Multi Asset
Distribution Frequency
Annual
Lipper Classification
Flexible Portfolio Funds
Max Offer Price
as of Nov 15, 2024
$20.41
Turnover Percent in the Annual Report
as of Apr 30, 2024
173.00%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2024
1,490
Average Market Cap (Millions)
as of -
-
Fund Standard Deviation (3y)
as of Oct 31, 2024
12.17
Benchmark Standard Deviation (3y)
as of Oct 31, 2024
12.63
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
11.39%
Effective Duration Fixed Income
as of Oct 31, 2024
7.05 yrs
Secondary Benchmark Sharpe Ratio (3y)
as of Oct 31, 2024
0.26
P/E Ratio
as of Oct 31, 2024
23.53
Fund Sharpe Ratio (3y)
as of Oct 31, 2024
-0.18
Benchmark Sharpe Ratio (3y)
as of Oct 31, 2024
-0.02
Effective Duration
as of Oct 31, 2024
2.11 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-10.26%
Effective Duration Fixed Income and Cash
as of Oct 31, 2024
6.13 yrs
Secondary Benchmark Standard Deviation (3y)
as of Oct 31, 2024
16.81
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.13%
Net Expense Ratio 1.09%

Net Expense Ratio excluding Investment Related Expenses is 1.08%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Global Allocation Fund, as of Oct 31, 2024 rated against 333 Global Allocation Funds based on risk adjusted total return.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective May 16, 2024)
Analyst-Driven % as of May 16, 2024
100.00
Data Coverage % as of May 16, 2024
100.00

Holdings

Holdings

Name Market Value Weight (%) Shares
as of Oct 31, 2024
Name Weight (%)
MICROSOFT CORP 2.69
NVIDIA CORP 2.45
NIKKEI 225 (OSE) DEC 24 2.36
APPLE INC 2.09
AMAZON COM INC 1.86
Name Weight (%)
ALPHABET INC CLASS C 1.56
META PLATFORMS INC CLASS A 0.98
MASTERCARD INC CLASS A 0.89
UNITEDHEALTH GROUP INC 0.88
JPMORGAN CHASE & CO 0.88
as of Oct 31, 2024
Name Weight (%)
UMBS 30YR TBA(REG A) 0.64
GREEN PLAINS - SECURED NOTES 144A 11.75 02/08/2026 0.55
TREASURY NOTE 4.625 09/30/2028 0.46
TREASURY (CPI) NOTE 2.125 04/15/2029 0.39
TREASURY NOTE 4.25 12/31/2024 0.38
Name Weight (%)
SPAIN (KINGDOM OF) 3.45 10/31/2034 0.36
FREED CORP 4A2 144A 12 11/30/2028 0.34
HR OTTAWA LP 144A 11 03/31/2031 0.32
SWP: OIS 4.354000 26-APR-2034 SOF 0.31
LANDSEA HOMES CORP 4A2 SEN NOTES Prvt 11 07/17/2028 0.27
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, 2024

% of Net Assets

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

% of Net Assets

Type Fund Benchmark Net
as of Oct 31, 2024

% of Net Assets

Type Fund Benchmark Net
as of Oct 31, 2024

% of Net Assets

Type Fund Benchmark Net
as of Oct 31, 2024

% of Net Assets

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.

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Chief Investment Officer of Global Fixed Income

        

Read More

Rick Rieder, Senior 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.

 

Responsible for managing roughly $2.4 trillion in assets, Mr. Rieder is a member of BlackRock’s Global Executive Committee (GEC) and its GEC Investment Sub-Committee. He also is Chairman of the firm-wide BlackRock Investment Council.

 

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.

 

Mr. Rieder has 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.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. From 1987 to 2008, he was with Lehman Brothers where he was 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 Goizueta 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 Goizueta Business School's BBA investment fund and community financial literacy outreach program, Graduation Generation. Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, NJ. 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 in Atlanta, and Trustee for the U.S. 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, CFA, JD
Russ Koesterich, CFA, JD

  

Read More

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, 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 U.S. 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 two books, including his most recent "The Ten Trillion Dollar Gamble."

 

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.

Portfolio Manager

Team's Commentary

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Read the Team's Commentary

Literature

Literature

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