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MDLOX BlackRock Global Allocation Inv A

  • Fund
  • MDLOX
  • Price as of: Oct 18, 2017
  • $20.26
  • + $0.02
  • + 0.10%
  • Category
  • Global Allocation

MDLOX - Profile

Vitals

  • YTD Return 11.4%
  • 3 Yr Annualized Return 4.1%
  • 5 Yr Annualized Return 6.1%
  • Net Assets $39.1 B
  • Holdings in Top 10 20.4%

52 WEEK LOW AND HIGH

$20.26
$18.13
$20.27

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.15%

SALES FEES

  • Front Load 5.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 131.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$100

Investment Themes

CATEGORY

Global Allocation
  • Fund Type Open End Mutual Fund
  • Investment Style World Allocation

Distributions

  • YTD Total Return 11.4%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 4.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.10%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name BlackRock Global Allocation Fund
  • Fund Family Name BlackRock
  • Inception Date Oct 21, 1994
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Dan Chamby

Fund Description

The BlackRock Global Allocation Fund Investor A Shares (MDLOX) is an actively managed, globally allocated fund designed to provide a high total return. The fund is unconstrained in its approach and can shift among assets classes (stocks, bonds, cash and derivatives) and location (U.S. and foreign) at will. The types of securities and markets invested in will be based on the changing market and economic trends. MDLOX has no allocation mandates and can be 100% invested in any asset class at will.

Expenses before sales are low. While designed as a core offering, the major shift of the fund’s asset classes makes it more of a satellite holding for investors. The fund is internally managed by BlackRock.

MDLOX - Performance

Return Ranking - Trailing

Period MDLOX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 11.4% -25.7% 26.4% 32.90% 2
1 Yr 10.5% -35.4% 26.6% 31.97% 2
3 Yr 4.1% * -5.5% 9.0% 38.89% 2
5 Yr 6.1% * -4.0% 10.1% 41.26% 3
10 Yr 4.3% * -0.9% 6.7% 30.39% 2

* Annualized


Return Ranking - Calendar

Period MDLOX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 1.9% -30.2% 210.7% 59.55% 4
2015 -9.8% -30.7% 2.7% 68.60% 4
2014 -7.3% -25.2% 10.0% 70.22% 5
2013 8.1% -12.0% 23.8% 38.70% 3
2012 8.7% -11.2% 18.2% 46.28% 3

Total Return Ranking - Trailing

Period MDLOX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 11.4% -25.7% 26.4% 32.90% 2
1 Yr 4.7% -35.4% 40.9% 64.16% 4
3 Yr 2.3% * -6.0% 12.6% 66.18% 4
5 Yr 4.9% * -4.2% 10.1% 55.59% 3
10 Yr 3.8% * -0.8% 6.7% 42.65% 3

* Annualized


Total Return Ranking - Calendar

Period MDLOX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 1.9% -30.2% 210.8% 65.45% 4
2015 -1.3% -29.2% 7.0% 18.37% 2
2014 2.1% -13.1% 18.1% 55.58% 3
2013 18.9% -9.8% 49.2% 21.47% 2
2012 13.9% -17.9% 30.6% 52.10% 3

NAV & Total Return History

MDLOX - Holdings

Filings data as of: Jul 31, 2017

Concentration Analysis

MDLOX Category Low Category High MDLOX % Rank Quintile
Net Assets 39.1 B 774 K 108 B 1.06% 1
Number of Holdings 954 2 6843 4.44% 1
Net Assets in Top 10 8.12 B -836 M 19.4 B 1.27% 1
Weighting of Top 10 20.4% 0.0% 408.5% 21.14% 4

Top 10 Holdings

  1. US Treasury Note 1.75% 3.45%
  2. US Treasury Note 1.875% 3.40%
  3. US Treasury Note 1.75% 3.11%
  4. US Treasury Note 2.25% 1.98%
  5. US Treasury Note 1.80%
  6. Apple Inc 1.00%
  7. Canada Govt 0.5% 0.80%
  8. SPDR® Gold Shares 2.62%
  9. Amazon.com Inc 0.88%
  10. Australia(Cmnwlth) 5.75% 1.38%

Asset Allocation

Weighting Category Low Category High MDLOX % Rank Quintile
Stocks
53.23% -1.87% 104.72% 15.01% 3
Bonds
32.99% -168.49% 97.42% 13.32% 3
Cash
6.94% -106.19% 184.57% 12.26% 3
Other
5.40% -2.65% 101.91% 9.51% 2
Preferred Stocks
0.93% 0.00% 17.15% 3.59% 1
Convertible Bonds
0.51% 0.00% 6.82% 2.54% 1

Stock Sector Breakdown

Weighting Category Low Category High MDLOX % Rank Quintile
Technology
7.30% -1.42% 22.61% 12.56% 3
Consumer Cyclical
7.00% -0.43% 14.24% 8.59% 2
Financial Services
6.61% -1.55% 21.93% 18.06% 4
Healthcare
6.15% -2.40% 11.97% 8.37% 2
Industrials
6.10% 0.00% 14.27% 11.23% 3
Energy
4.23% -0.11% 27.67% 7.93% 2
Communication Services
4.05% -0.71% 19.29% 3.96% 1
Basic Materials
3.36% -0.11% 19.84% 10.35% 2
Consumer Defense
2.82% -1.18% 21.92% 18.28% 4
Utilities
2.32% 0.00% 19.15% 6.39% 2
Real Estate
1.09% -0.70% 25.87% 18.28% 4

Stock Geographic Breakdown

Weighting Category Low Category High MDLOX % Rank Quintile
US
27.57% -70.07% 104.72% 10.15% 3
Non US
25.66% 0.00% 93.40% 15.01% 3

Bond Sector Breakdown

Weighting Category Low Category High MDLOX % Rank Quintile
Government
26.53% -174.60% 77.51% 5.29% 1
Corporate
7.41% 0.00% 47.36% 15.64% 4
Cash & Equivalents
6.94% -103.93% 185.25% 12.05% 3
Securitized
0.00% 0.00% 23.07% 15.64% 5
Municipal
0.00% 0.00% 9.55% 6.98% 5
Derivative
-0.06% -18.68% 15.92% 5.50% 4

Bond Geographic Breakdown

Weighting Category Low Category High MDLOX % Rank Quintile
US
18.93% -178.20% 77.51% 12.47% 3
Non US
14.06% 0.00% 57.17% 11.84% 3

MDLOX - Expenses

Operational Fees

MDLOX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.15% 0.01% 19.72% 32.20% 2
Management Fee 0.75% 0.00% 1.70% 4.47% 4
12b-1 Fee 0.25% 0.00% 1.00% 4.28% 3
Administrative Fee N/A 0.00% 0.55% N/A N/A

Sales Fees

MDLOX Fees (% of AUM) Category Low Category High MDLOX Rank Quintile
Front Load 5.25% 0.15% 5.75% 2.91% 2
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

MDLOX Fees (% of AUM) Category Low Category High MDLOX Rank Quintile
Max Redemption Fee N/A 0.11% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MDLOX Fees (% of AUM) Category Low Category High MDLOX Rank Quintile
Turnover 131.00% 0.00% 1837.00% 4.31% 5

MDLOX - Distributions

Dividend Yield Analysis

MDLOX Category Low Category High MDLOX % Rank Quintile
Dividend Yield 0.3% 0.00% 2.17% 26.74% 2

Dividend Distribution Analysis

MDLOX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

MDLOX Category Low Category High MDLOX % Rank Quintile
Net Income Ratio 1.10% -2.25% 9.28% 35.17% 3

Capital Gain Distribution Analysis

MDLOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

MDLOX - Managers

Dan Chamby

Manager

Start Date

Dec 31, 2003

Tenure

13.76

Tenure Rank

0.6%

Dan Chamby, CFA, Managing Director and portfolio manager, is a member of the Global Allocation team within BlackRock’s Multi-Asset Strategies Group. Mr. Chamby’s service with the firm dates back to 1993, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Mr. Chamby joined Merrill Lynch Investment Managers in 1993 as a Research Analyst for the Merrill Lynch Global Allocation Fund. He was named Associate Portfolio Manager of the Fund in 2003 and named Portfolio Manager of the Fund in 2011. Prior to joining Merrill Lynch Investment Managers, he worked for Fujitsu Ltd. in their Tokyo headquarters as a Research Analyst. He began his investment career at Mellon Bank in 1982 as an Asia/Pacific Credit Analyst, and later managed the International Money Market Desk. Mr. Chamby received his BA degree in political science and French literature from Duquesne University in 1982, and an MBA degree from the Wharton School, University of Pennsylvania in 1988. Mr. Chamby speaks Japanese and French, and is a CFA® Charterholder.


Russ Koesterich

Manager

Start Date

Jan 01, 2017

Tenure

0.75

Tenure Rank

10.8%

Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team within BlackRock's Multi-Asset Strategies Group. He serves as a member of BlackRock's Americas Executive Committee. 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 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 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.


David Clayton

Manager

Start Date

Jan 01, 2017

Tenure

0.75

Tenure Rank

10.8%

David Clayton, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team within BlackRock’s Multi-Asset Strategies Group. Mr. Clayton joined the BlackRock Global Allocation team in 2010 and was named a portfolio manager of the Fund in 2017.  Prior to his current role, he was a senior investor and investment group leader on the Fund, primarily responsible for coverage of the energy, real estate, autos, industrials, insurance, materials and utilities sectors. Prior to joining BlackRock, he was Of Counsel in the Financial Restructuring Group at Milbank, Tweed, Hadley & McCloy LLP. Previously he was a Managing Director and analyst with The Blackstone Group, responsible for distressed and special situations investments across multiple industries. Prior to joining Blackstone, Mr. Clayton spent six years at Merrill Lynch Investment Managers (MLIM), initially as an attorney specializing in corporate finance transactions and restructurings, and most recently as a Vice President and analyst in the Global High Yield Bond & Bank Debt Group. Mr. Clayton began his career as an attorney specializing in corporate finance transactions, first at Blake, Cassels & Graydon in Toronto and then at Milbank in New York. Mr. Clayton earned a BA degree, with honors, in economics from the University of Western Ontario in 1990 and MBA and LLB degrees from Dalhousie University in 1994. He is a CFA® Charterholder.


Kent Hogshire

Manager

Start Date

Jan 01, 2017

Tenure

0.75

Tenure Rank

10.8%

Kent Hogshire, CFA, Managing Director and portfolio manager, is a member of the Global Allocation team within BlackRock’s Multi-Asset Strategies Group. Mr. Hogshire’s service with the firm dates back to 2000, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. He was named portfolio manager of the Fund in 2017.  Prior to his current role, he was a senior investor and investment group leader on the Fund, primarily responsible for global macro and thematic strategy and coverage of the industrials and transports sectors. Mr. Hogshire began his investment career in 2000 at MLIM, initially as a research associate on Merrill Lynch Global Allocation Fund. Mr. Hogshire earned a BA degree in international affairs from Princeton University in 2000. He is a CFA® Charterholder.


Tenure Analysis

Category Low

0.0

Category High

25.8

Category Average

5.15

Category Mode

2.8