Multi Asset

LPREX

LifePath Dynamic 2040 Fund

  • NAV as of Nov 18, 2024 $15.95
    52 WK: 13.98 - 16.24
  • 1 Day NAV Change as of Nov 18, 2024 0.08 (0.50%)
  • NAV Total Return as of Nov 15, 2024 YTD: 14.27%

Overview

About this Fund

1. Seeks to deliver alpha and manage risk for the long term
2. Adapts to macro trends and opportunities
3. Built using 25+ years of target date fund experience

Investment Approach

Invests in broadly diversified global asset classes and becomes more conservative over time as investors approach retirement. The Fund accesses BlackRock’s full spectrum of investment capabilities to create a portfolio of complementary funds and seeks consistent, uncorrelated return through index, factor, and alpha seeking strategies.

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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 28.35 6.33 10.10 8.41
Return w/ Sales Charge (%) 21.61 4.44 8.92 7.83
Benchmark (%) 27.37 5.80 9.88 8.30
Morningstar Category Avg. (%) 27.13 3.32 8.83 7.82
Morningstar Ranking 38/203 30/194 63/168 47/111
Morningstar Quartile 1 1 2 2
Lipper Category Avg. (%) 26.95 5.58 9.78 8.18
Lipper Ranking 44/203 29/194 59/162 44/102
Lipper Quartile 1 1 2 2
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 15.93 2.03 6.55 28.35 20.23 61.78 124.32
Return w/ Sales Charge (%) 9.84 -3.33 0.96 21.61 13.92 53.28 112.54
Benchmark (%) 14.95 2.15 6.98 27.37 18.42 60.16 121.95
Morningstar Category Avg. (%) 12.10 -2.21 1.58 27.13 17.50 59.29 121.27
Lipper Category Avg. (%) 14.87 1.78 6.03 26.95 17.71 59.53 119.92
  2019 2020 2021 2022 2023
Total Return (%) 25.29 13.72 15.84 -17.32 18.90
Annual w/ Sales Charge (%) 18.71 7.75 9.76 -21.66 12.66
Benchmark (%) 25.01 14.12 16.00 -17.60 18.49
Morningstar Category Avg. (%) 23.19 14.56 15.47 -17.32 17.69

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.
Click here for Distribution data

Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 18, 2024
$398.8 M
Share Class launch date
Apr 30, 2001
Benchmark Index
BlackRock LifePath Dynamic 2040 Custom Benchmark (USD)
Morningstar Category
Target-Date 2040
CUSIP
066922824
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 18, 2024
$139.3 M
Asset Class
Multi Asset
Distribution Frequency
Annual
Lipper Classification
Mixed-Asset Target 2040 Funds
Max Offer Price
as of Nov 18, 2024
$16.83
Turnover Percent in the Annual Report
as of Dec 31, 2023
11.00%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y)
as of Oct 31, 2024
99.29
Fund Standard Deviation (3y)
as of Oct 31, 2024
15.52
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
14.18%
Fund Sharpe Ratio (3y)
as of Oct 31, 2024
0.10
Effective Duration
as of Oct 31, 2024
1.29 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-13.54%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of Oct 31, 2024
0.25%
MSCI - Nuclear Weapons
as of Oct 31, 2024
0.13%
MSCI - Civilian Firearms
as of Oct 31, 2024
0.08%
MSCI - Tobacco
as of Oct 31, 2024
0.49%
MSCI - UN Global Compact Violators
as of Oct 31, 2024
0.28%
MSCI - Thermal Coal
as of Oct 31, 2024
0.42%
MSCI - Oil Sands
as of Oct 31, 2024
0.00%
Business Involvement Coverage
as of Oct 31, 2024
75.30%
Percentage of Fund not covered
as of Oct 31, 2024
24.70%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.73% and for Oil Sands 0.59%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

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 1.10%
Net Expense Ratio 0.84%

Net Expense Ratio excluding Investment Related Expenses is 0.84%

  • Acquired Fund Fees and Expenses 0.25%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Jan 19, 2024)
Analyst-Driven % as of Jan 19, 2024
100.00
Data Coverage % as of Jan 19, 2024
100.00

Lipper Leader

 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Oct 31, 2024 out of 194, 4,456, 194, 30 and 194 Funds, respectively in Lipper's Mixed-Asset Target 2040 Funds classification.

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
Diversified Equity 44.98
INTL TILTS MASTER 10.94
DIVERSIFIED FIXED INCOME FUN CL 6.49
BLK TACTICAL OPPORTUNITIES CLASS K 3.86
ADVANTAGE EMERGING MARKETS F INVK 3.55
Name Weight (%)
ISHARES IBOXX $ INV GRADE CORPORAT 3.53
ISHARES MSCI EAFE SMALL-CAP ETF 3.25
ISHARES TIPS BOND ETF 3.18
ISHARES DEVELOPD RL ESTAT CL K 2.07
BLK REAL ESTATE SEC FND INST CLASS 1.20
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 Jul 31, 2024

% Notional Value

Type Fund
as of Oct 31, 2024

% Notional Value

Type Fund Benchmark Net
as of Oct 31, 2024

% Notional Value

Type Fund Benchmark Net
Allocations subject to change.
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

Philip Green
Philip Green
Head of Global Tactical Asset Allocation Team, Multi-Asset Strategies & Solutions

  

Read More

Phil Green, Managing Director, is the head of the Global Tactical Asset Allocation team within BlackRock's Multi-Asset Strategies & Solutions (MASS) group. The GTAA team manages multi-asset macro investment strategies including the Tactical Opportunities Fund and Sustainable Balanced Fund and custom mandates for institutional clients around the world.

 

Phil’s service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Prior to joining MLIM, Phil was a portfolio manager at Bankers Trust Company.

Phil earned an MBA from the Stern School of Business of New York University and a BS in economics from the Wharton School of the University of Pennsylvania.

 

Phil is the author of many articles on investing, some of which have been published in the Financial Analysts Journal, Journal of Foreign Exchange & Money Markets, and the Journal of Investing.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Christopher Chung
Christopher Chung
Head of Asset Allocation and Custom Strategies for LifePath

  

Read More

Christopher Chung, CFA, Director, is the Head of Asset Allocation and Custom Strategies for LifePath. Mr. Chung's service dates back to 2008, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. As a Senior Portfolio Manager within the Multi-Asset Strategies & Solutions (MASS) group Mr. Chung is responsible for the design, implementation, and oversight of multi-asset Defined Contribution and 529 strategies.

 

At BGI, he was a portfolio manager within the BlackRock Multi-Asset Client Solutions (BMACS) Group focusing on the development and implementation of both target-date and college savings strategies. Prior to joining BGI, Mr. Chung was a Senior Manager within the Portfolio Management and Analytics Group at American Express. Mr.Chung started his career as a research professional at the Center for Interuniversity Research and Analysis of Organizations (CIRANO) in Montreal, Canada.

 

Mr. Chung earned a BBE degree in financial economics from Brock University and a MA degree in economics from Concordia University. Mr. Chung is a CFA charterholder.

Michael Pensky, CFA
Michael Pensky, CFA
Portfolio Manager, Global Tactical Asset Allocation Team

   

Read More

Michael Pensky, CFA, Managing Director, is a portfolio manager on the Global Tactical Asset Allocation team within BlackRock's Multi-Asset Strategies & Solutions (MASS) group. The GTAA team manages multi-asset macro investment strategies including the Tactical Opportunities Fund and Sustainable Balanced Fund and custom mandates for institutional clients around the world.

 

Michael’s service with the firm dates back to 2012. Prior to joining BlackRock, he was a trading desk strategist in Morgan Stanley's Securitized Products Group and worked as a senior analyst in Foreign Exchange Sales & Trading at SunTrust Robinson Humphrey.

 

Michael earned BS degrees in mathematics and finance from the University of Florida and an MFE degree in financial engineering from the University of California, Berkeley.

 

Michael’s interests include top-down macro investing and multi-asset portfolio design & management. Outside of work, he enjoys playing musical instruments and running.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Portfolio Manager

Literature

Literature

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