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Name

As of 06/24/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

MassMutual Select BlackRock Global Allocation Fund

MGSLX | Fund

$9.10

$73.3 M

0.50%

$0.05

1.10%

Vitals

YTD Return

-27.3%

1 yr return

-12.2%

3 Yr Avg Return

7.2%

5 Yr Avg Return

5.0%

Net Assets

$73.3 M

Holdings in Top 10

13.8%

52 WEEK LOW AND HIGH

$9.1
$9.10
$14.18

Expenses

OPERATING FEES

Expense Ratio 1.10%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 132.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/24/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

MassMutual Select BlackRock Global Allocation Fund

MGSLX | Fund

$9.10

$73.3 M

0.50%

$0.05

1.10%

MGSLX - Profile

Distributions

  • YTD Total Return -27.3%
  • 3 Yr Annualized Total Return 7.2%
  • 5 Yr Annualized Total Return 5.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.62%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    MassMutual Select BlackRock Global Allocation Fund
  • Fund Family Name
    MassMutual
  • Inception Date
    Dec 01, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Russ Koesterich

Fund Description

Principal Investment Strategies
The Fund seeks to achieve its objective by investing in both equity and debt securities, including money market securities and other short-term debt obligations, of issuers located around the world, including emerging markets, without limitation on the percentage of assets the Fund can invest in a particular type of security. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, securities or other investments whose price is linked to the value of common stock, rights, and warrants, of issuers of any size, or type, including growth and value companies. The Fund may buy debt securities of varying maturities, debt securities paying a fixed or floating rate of interest, and debt securities of any kind, including, by way of example, securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, by foreign governments or international agencies or supranational entities, or by domestic or foreign private issuers, mortgage-backed or other asset-backed securities, debt securities convertible into equity securities, inflation-indexed bonds, structured notes, credit-linked notes, loan assignments, and loan participations. Debt securities in which the Fund invests may be investment grade debt securities, meaning that they will be rated at least Baa by Moody’s or BBB by Standard & Poor’s, or if unrated will be considered by the Fund’s subadviser, BlackRock Investment Management, LLC (“BlackRock”), to be of comparable quality, or below investment grade debt securities (“junk” or “high yield” bonds). The Fund may invest up to 35% of its total assets in below investment grade debt securities, corporate loans, and distressed securities. In the event that a security is downgraded after its purchase by BlackRock, BlackRock may continue to hold the security if BlackRock considers that doing so would be consistent with the Fund’s investment objective. BlackRock will invest in “junk” bonds, corporate loans, and distressed securities only when it believes that they will provide an attractive total return, relative to their risk, as compared to higher quality debt securities. BlackRock will invest in distressed securities when BlackRock believes they offer significant potential for higher returns or can be exchanged for other securities that offer this potential. However, there can be no assurance that the Fund will generally achieve these returns or that the issuer will make an exchange offer or
adopt a plan of reorganization. The Fund may hold a portion of its assets in cash or cash equivalents.
In making investment decisions, BlackRock tries to identify the long term trends and changes that could benefit particular markets and/or industries relative to other markets and industries. BlackRock will consider a variety of factors when selecting the markets, such as the rate of economic growth, natural resources, capital reinvestment, and the social and political environment. In deciding between equity and debt investments, BlackRock looks at a number of factors, such as the relative opportunity for capital appreciation, capital recovery risk, dividend yields, and the level of interest rates paid on debt securities of different maturities. The Fund may invest in individual securities, baskets of securities, or particular measurements of value or rate, and may consider a variety of factors and systematic inputs. The Fund mainly seeks investments that BlackRock believes are undervalued. BlackRock may employ derivatives for a variety of reasons, including but not limited to, adjusting its exposures to markets, sectors, asset classes, and securities. As a result, the economic exposure of the Fund to any particular market, sector, or asset class may vary relative to the market value of any particular exposure.
The Fund seeks to reduce volatility by allocating its assets broadly across markets, industries, and issuers and without geographic or market capitalization limits. BlackRock uses the Fund’s investment flexibility to create a portfolio of assets allocated between equity and debt securities. The Fund may but will not necessarily engage in foreign currency transactions, including forward contracts, options on currency, futures contracts, contracts for difference and swap contracts, to take long or short positions in foreign currencies in order to seek to enhance the Fund’s investment return or to seek to hedge or to attempt to protect against adverse changes in currency exchange rates. In pursuing its investment objective, the Fund may (but is not obligated to) use a wide variety of additional exchange-traded and over-the-counter derivatives, including options, futures contracts, indexed securities (securities whose return is based on changes in the value of a designated index), inverse securities (securities whose values vary inversely with changes in a specified index or interest rate), forward contracts, and swap contracts (including, but not limited to, contracts for difference) for hedging or investment purposes as a substitute for investing directly in securities. Use of derivatives by the Fund may create investment leverage.
Under normal circumstances, the Fund anticipates it will allocate a substantial amount (approximately 40% or more — unless market conditions are not deemed favorable by BlackRock, in which case the Fund would invest at least 30%) of its total assets in securities of  (i) foreign government issuers, (ii) issuers organized or located outside the U.S., (iii) issuers which primarily trade in a market located outside the U.S., or (iv) issuers doing substantial business outside the U.S., which the Fund considers to be companies that derive at least 50% of their revenue or profits from business outside the U.S. or have at least 50% of their sales or assets outside the U.S. The Fund will allocate its assets among various regions and countries, including the U.S. (but in no less than three different countries).
The Fund has the ability to invest in other investment companies, such as exchange-traded funds, unit investment trusts, and open-end and closed-end funds. The Fund may invest a portion of its assets in real estate investment trusts (“REITs”) and securities related to real assets (like real estate or precious metals-related securities) such as stock, bonds, or convertible bonds issued by REITs or companies that mine precious metals. The Fund may purchase and sell securities on a when-issued, delayed delivery, or forward commitment basis. The Fund may sell securities short for hedging or investment purposes. The Fund will not make a short sale, other than a short sale “against the box,” if, after giving effect to such sale, the market value of all securities sold short exceeds 20% of its total assets.
The Fund may seek to provide exposure to the investment returns of real assets that trade in the commodity markets, including precious metals, agriculture, energy, livestock, or industrial metals. The Fund may obtain such exposure through, among other things, investments in issuers in commodities-related industries or in other investment vehicles that invest directly in commodities, commodities-related companies, or commodities-related investments, such as exchange-traded funds. The Fund may, but will not necessarily, invest in commodity-linked derivative instruments, including futures contracts, options, and swaps. In order to earn qualifying income under applicable tax rules from commodities and certain commodities-related investments, the Fund may invest up to 25% of its total assets in the MassMutual Select Cayman Global Allocation Fund I, Ltd. (the “Select Cayman Fund”), which was formed in the Cayman
Islands and is a wholly-owned subsidiary of the Fund. The Select Cayman Fund may also hold cash and invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its derivative positions.
The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
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MGSLX - Performance

Return Ranking - Trailing

Period MGSLX Return Category Return Low Category Return High Rank in Category (%)
YTD -27.3% -23.7% 16.4% 98.50%
1 Yr -12.2% -8.9% 48.3% 90.99%
3 Yr 7.2%* -2.2% 16.4% 34.74%
5 Yr 5.0%* -0.7% 13.4% 47.20%
10 Yr 5.9%* 0.9% 11.8% 61.28%

* Annualized

Return Ranking - Calendar

Period MGSLX Return Category Return Low Category Return High Rank in Category (%)
2023 -4.1% -40.8% 20.6% 86.47%
2022 12.2% -21.0% 24.5% 7.29%
2021 14.0% -24.2% 27.8% 33.41%
2020 -11.4% -23.1% 11.7% 47.51%
2019 11.1% -100.0% 20.6% 31.61%

Total Return Ranking - Trailing

Period MGSLX Return Category Return Low Category Return High Rank in Category (%)
YTD -27.3% -23.7% 16.4% 98.50%
1 Yr -12.2% -12.8% 48.3% 84.32%
3 Yr 7.2%* -3.4% 16.4% 30.79%
5 Yr 5.0%* -1.1% 13.4% 43.25%
10 Yr 5.9%* 0.9% 11.8% 58.01%

* Annualized

Total Return Ranking - Calendar

Period MGSLX Return Category Return Low Category Return High Rank in Category (%)
2023 -4.1% -40.8% 20.6% 86.47%
2022 12.2% -21.0% 24.5% 7.29%
2021 14.0% -24.2% 27.8% 33.41%
2020 -11.4% -23.1% 11.7% 64.76%
2019 13.5% -2.9% 23.1% 47.41%

NAV & Total Return History

MGSLX - Holdings

Concentration Analysis

MGSLX Category Low Category High MGSLX % Rank
Net Assets 73.3 M 1.12 M 110 B 82.94%
Number of Holdings 1819 2 10961 5.43%
Net Assets in Top 10 95.3 M -31.7 M 22 B 63.26%
Weighting of Top 10 13.77% 10.8% 100.0% 93.13%

Top 10 Holdings

  1. Future on S&P 500 PR Jun21 16.70%
  2. Future on S&P 500 PR Jun21 16.70%
  3. Future on S&P 500 PR Jun21 16.70%
  4. Future on S&P 500 PR Jun21 16.70%
  5. Future on S&P 500 PR Jun21 16.70%
  6. Future on S&P 500 PR Jun21 16.70%
  7. Future on S&P 500 PR Jun21 16.70%
  8. Future on S&P 500 PR Jun21 16.70%
  9. Future on S&P 500 PR Jun21 16.70%
  10. Future on S&P 500 PR Jun21 16.70%

Asset Allocation

Weighting Return Low Return High MGSLX % Rank
Stocks 		68.65% -45.72% 98.42% 34.66%
Bonds 		15.26% -39.76% 93.84% 76.62%
Cash 		14.37% -97.12% 185.58% 20.04%
Other 		0.98% -1.25% 197.12% 40.92%
Preferred Stocks 		0.67% -0.03% 14.00% 21.71%
Convertible Bonds 		0.07% 0.00% 25.49% 68.68%

Stock Sector Breakdown

Weighting Return Low Return High MGSLX % Rank
Technology 		22.14% 0.00% 39.48% 12.95%
Consumer Cyclical 		14.49% 0.00% 20.84% 8.70%
Healthcare 		14.24% 0.00% 30.30% 16.99%
Financial Services 		11.52% 0.00% 30.34% 74.95%
Industrials 		10.33% 0.09% 32.39% 54.56%
Communication Services 		9.13% 0.00% 28.59% 14.44%
Basic Materials 		5.89% 0.00% 60.23% 38.43%
Energy 		4.50% 0.00% 38.61% 56.26%
Consumer Defense 		3.62% 0.00% 31.85% 78.98%
Utilities 		2.56% 0.00% 40.29% 58.17%
Real Estate 		1.58% 0.00% 90.14% 82.38%

Stock Geographic Breakdown

Weighting Return Low Return High MGSLX % Rank
US 		46.89% -4.82% 95.75% 14.61%
Non US 		21.76% -46.69% 57.06% 76.20%

Bond Sector Breakdown

Weighting Return Low Return High MGSLX % Rank
Government 		67.65% 0.00% 98.64% 5.43%
Cash & Equivalents 		14.87% 0.10% 100.00% 59.29%
Corporate 		8.82% 0.00% 99.90% 75.37%
Derivative 		5.38% 0.00% 41.88% 16.28%
Securitized 		3.27% 0.00% 83.28% 59.50%
Municipal 		0.00% 0.00% 31.28% 78.91%

Bond Geographic Breakdown

Weighting Return Low Return High MGSLX % Rank
US 		54.26% -177.12% 87.76% 2.51%
Non US 		-39.00% -39.00% 137.36% 99.79%

MGSLX - Expenses

Operational Fees

MGSLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.10% 0.16% 2.71% 48.23%
Management Fee 0.78% 0.00% 1.70% 79.01%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.30% 0.01% 0.70% 97.89%

Sales Fees

MGSLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

MGSLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

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.

MGSLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 132.00% 0.00% 441.00% 85.89%

MGSLX - Distributions

Dividend Yield Analysis

MGSLX Category Low Category High MGSLX % Rank
Dividend Yield 0.50% 0.00% 10.92% 76.30%

Dividend Distribution Analysis

MGSLX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

MGSLX Category Low Category High MGSLX % Rank
Net Income Ratio 0.62% -5.20% 6.33% 81.70%

Capital Gain Distribution Analysis

MGSLX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

MGSLX - Fund Manager Analysis

Managers

Russ Koesterich

Start Date

Tenure

Tenure Rank

Jan 18, 2017

5.37

5.4%

Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team as well as the lead portfolio manager on the GA Selects model portfolio strategies. 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 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.

David Clayton

Start Date

Tenure

Tenure Rank

Jan 18, 2017

5.37

5.4%

David Clayton, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team. 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 head of portfolio oversight, as well as a senior investor and investment group leader, on the Fund, primarily responsible for coverage of the energy, real estate, autos, industrials, 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.

Rick Rieder

Start Date

Tenure

Tenure Rank

Apr 30, 2019

3.09

3.1%

Rick Rieder, Managing Director, is BlackRock's Global Chief Investment Officer of Fixed Income, and Co-head of BlackRock's Global Fixed Income platform, a member of BlackRock's Global Operating Committee and Chairman of the BlackRock firm-wide 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. Mr. Rieder is currently a member of the Federal Reserve Bank of New York's Investment Advisory Committee on Financial Markets, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013, and was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014. 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 Investment Committee and is the Vice Chairman of the Finance 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 of the Board of North Star Academy's eleven 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 a Trustee for the US Olympic Committee, and on the board of advisors for the Hospital for Special Surgery. He serves on the National Leadership Council of the Communities in Schools Educational Foundation and on the board of Big Brothers/Big Sisters of Newark and Essex County 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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25

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