Morningstar Fund Report | 17/04/2025

BlackRock Global Funds - US Flexible Equity Fund D2

Performance History	31/03/2025

Growth of 1,000 (GBP)	Advanced Graph

	Fund	26.1	-3.9	16.4	18.2	-10.9
	+/-Cat	-0.2	5.5	-0.8	-5.0	-3.0
	+/-B’mrk	-1.0	5.9	-2.7	-8.6	-3.4


Category: US Large-Cap Blend Equity
Category Benchmark: Morningstar US Large-Mid NR...

Key Stats
NAV 16/04/2025		USD 69.43
Day Change		-2.26%
Morningstar Category™		US Large-Cap Blend Equity
ISIN		LU0252969232
Fund Size (Mil) 31/03/2025		USD 1285.61
Share Class Size (Mil) 16/04/2025		USD 104.13
Max Initial Charge		5.26%
Ongoing Charge 04/02/2025		1.06%

Morningstar Research

Analyst Report	21/11/2024 Natalia Wolfstetter, Director Morningstar, Inc
Whilst this strategy sports experienced managers and a well-resourced team, process evolution and analyst turnover keep the Morningstar Analyst Rating at Neutral across most share classes. The highest-cost share classes are rated Negative. In...
Click here to read this analyst report on the underlying fund.

Morningstar Pillars
People	23
Parent	24
Process	23
Performance
Price

Investment Objective: BlackRock Global Funds - US Flexible Equity Fund D2

The Fund seeks to maximise total return in a manner consistent with the principles of environmental, social and governance (“ESG”) investing. The Fund invests at least 70% of its total assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, the US. The Fund normally invests in securities that, in the opinion of the Investment Adviser, exhibit either growth or value investment characteristics, placing an emphasis as the market outlook warrants.

Returns

Trailing Returns (GBP)	16/04/2025
YTD	-17.39
3 Years Annualised	3.12
5 Years Annualised	11.99
10 Years Annualised	10.81

12 Month Yield

0.00

Management

Manager Name Start Date
Saverio Console 07/11/2024
Sally Du 07/11/2024
Click here to see others
Inception Date 19/05/2006

Category Benchmark

Fund Benchmark	Morningstar Benchmark
Russell 1000 TR USD	Morningstar US Large-Mid NR USD

Portfolio Profile for BlackRock Global Funds - US Flexible Equity Fund D2	31/03/2025

Morningstar Style Box®

Equity Style

Asset Allocation

	% Long	% Short	% Net Assets
Stock	99.05	0.00	99.05
Bond	0.01	0.00	0.01
Property	0.00	0.00	0.00
Cash	12.43	11.50	0.93
Other	0.00	0.00	0.00

Top 5 Regions	%
United States	97.86
Eurozone	2.14
Canada	0.00
Latin America	0.00
United Kingdom	0.00

Top 5 Sectors		%
	Technology	28.75
	Financial Services	20.45
	Healthcare	15.30
	Communication Services	11.70
	Consumer Cyclical	9.68

Top 5 Holdings	Sector	%
Microsoft Corp	Technology	7.74
Amazon.com Inc	Consumer Cyclical	7.47
Meta Platforms Inc Class A	Communication Services	6.52
Visa Inc Class A	Financial Services	5.77
Cardinal Health Inc	Healthcare	4.75

Increase Decrease New since last portfolio
BlackRock Global Funds - US Flexible Equity Fund D2

Growth Of 1000 (GBP)

31/03/2025

	Fund: BlackRock Global Funds - US Flexible Equity Fund D2
	Category: US Large-Cap Blend Equity
	Category Index: Morningstar US Large-Mid NR USD

Annual Returns (GBP)						31/03/2025
	2018	2019	2020	2021	2022	2023	2024	31/03
Price Return	-2.49	22.65	14.51	26.10	-3.89	16.42	18.16	-10.88
+/- Category	-1.06	-0.77	0.41	-0.17	5.55	-0.81	-5.02	-3.02
+/- Category Index	-3.33	-3.14	-2.24	-1.00	5.90	-2.71	-8.65	-3.42
% Rank in Category	70	66	51	68	9	66	82	94

Trailing Returns (GBP)			16/04/2025
	Total Returns	+/- Category	+/- Category Index
1 Day	-2.26	-1.86	-1.68
1 Week	0.57	-1.64	-3.83
1 Month	-9.40	-3.82	-2.76
3 Months	-20.61	-5.44	-4.43
6 Months	-13.08	-3.99	-5.23
YTD	-17.39	-4.38	-4.18
1 Year	-9.48	-7.75	-10.48
3 Years Annualised	3.12	-3.19	-4.38
5 Years Annualised	11.99	-0.81	-1.90
10 Years Annualised	10.81	-0.31	-1.40

Category: US Large-Cap Blend Equity
Category Index: Morningstar US Large-Mid NR USD

Quarterly Returns (GBP)				31/03/2025
	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2025	-10.88	-	-	-
2024	10.34	2.43	-4.26	9.19
2023	3.39	5.42	2.04	4.66
2022	0.61	-8.26	5.43	-1.23
2021	8.76	6.42	2.37	6.43
2020	-15.69	18.85	5.96	7.85

Morningstar Rating™(Relative to Category)

31/03/2025

	Morningstar Return	Morningstar Risk	Morningstar Rating™
3-Year	Below Average	Below Average
5-Year	Average	Below Average
10-Year	Average	Average
Overall	Average	Average

Click here to see our Methodology

Volatility Measurements

31/03/2025


3-Yr Std Dev	13.44 %
3-Yr Mean Return	6.35 %


3-Yr Sharpe Ratio	0.16

Modern Portfolio Statistics	31/03/2025	31/03/2025
	Standard Index	Best Fit Index
	Morningstar US Large-Mid NR USD	Morningstar US Market Ext NR USD
3-Yr Beta	0.84	0.83
3-Yr Alpha	-2.87	-2.39

Investment Style Details

31/03/2025

Morningstar Style Box®

Equity Style

Size		Rel to Cat
Average Mkt Cap (Mil)	USD 217392	-


Market Capitalisation	% of Equity
Giant	41.65
Large	29.87
Medium	22.07
Small	6.42
Micro	0.00

Valuations and Growth Rates	Equity Portfolio	Relative to Category
Price/Prospective Earnings	21.00	0.99
Price/Book	3.85	0.86
Price/Sales	1.46	0.56
Price/Cash Flow	14.00	0.94
Dividend-Yield Factor	0.91	0.64

Long-Term Projected Earnings Growth	13.24	1.20
Historical Earnings Growth	14.06	1.28
Sales Growth	12.06	1.38
Cash-Flow Growth	10.30	1.27
Book-Value Growth	10.80	1.04

Asset Allocation

31/03/2025

	% Long	% Short	% Net Assets
Stock	99.05	0.00	99.05
Bond	0.01	0.00	0.01
Property	0.00	0.00	0.00
Cash	12.43	11.50	0.93
Other	0.00	0.00	0.00

World Regions

31/03/2025

	% of Equity	Relative to Category
United States	97.86	1.00
Canada	0.00	0.00
Latin America	0.00	0.00
United Kingdom	0.00	0.00
Eurozone	2.14	3.37
Europe - ex Euro	0.00	0.00
Europe - Emerging	0.00	-
Africa	0.00	-
Middle East	0.00	0.00
Japan	0.00	0.00
Australasia	0.00	-
Asia - Developed	0.00	0.00
Asia - Emerging	0.00	0.00

Sector Weightings

31/03/2025

	% of Equity	Relative to Category
Basic Materials	3.86	1.79
Consumer Cyclical	9.68	0.93
Financial Services	20.45	1.38
Healthcare	15.30	1.29
Communication Services	11.70	1.30
Energy	3.98	1.40
Industrials	6.28	0.82
Technology	28.75	0.93

Top 10 Holdings

31/03/2025

	Portfolio NEW
Total Number of Equity Holdings	31
Total Number of Bond Holdings	0
Assets in Top 10 Holdings	51.59

Name	Sector	Country	% of Assets
Microsoft Corp		United States	7.74
Amazon.com Inc		United States	7.47
Meta Platforms Inc Class A		United States	6.52
Visa Inc Class A		United States	5.77
Cardinal Health Inc		United States	4.75
Intercontinental Exchange Inc		United States	4.11
S&P Global Inc		United States	3.89
NVIDIA Corp		United States	3.86
Air Products & Chemicals Inc		United States	3.82
SS&C Technologies Holdings Inc		United States	3.64

Increase Decrease New since last portfolio
Category: US Large-Cap Blend Equity

Management

Name of Company	BlackRock (Luxembourg) SA
Phone	+44 20 77433000
Website	www.blackrock.com
Address	35 A, avenue J.F. Kennedy,
	Luxembourg L-1855
	Luxembourg

Domicile	Luxembourg
Legal Structure	SICAV
UCITS	Yes
Inception Date	19/05/2006

Fund Advisor(s)
BlackRock Investment Management, LLC

Fund Manager	Saverio Console
Manager Start Date	07/11/2024



Biography
Saverio (Sam) Console, Director and analyst, is a member of the Fundamental US Large Cap Growth Equity team within the Fundamental Active Equity business of BlackRock's Active Equity Group. Mr. Console is Director of Research for the US Growth Team. Prior to joining Blackrock in 2014, Mr. Console worked for Rainier Investment Management where he was a Principal and served as a Portfolio Manager for the US Large Cap Growth and US Large Cap Core strategies. Prior to Rainier, Mr. Console served as Portfolio Manager and a Senior Equity Analyst at UBS for 15 years for the US Large Cap Growth and US Large Cap Diversified Growth Strategies.

Fund Manager	Sally Du
Manager Start Date	07/11/2024



Biography
Sally Du, CFA, Director, is a co-portfolio manager for the BlackRock Fundamental US Equity Fund and the BGF US Sustainable Equity Fund. Sally also leads the Quantitative Alpha Research Group (QarG) in US Income & Value Strategies and embeds alternatives datasets into investment decision-making as Data Lead. Ms. Du holds a Master of Science degree in Operations Research from Columbia University's School of Engineering, and a Bachelor's degree with honors from the Department of Mathematics at the University of California, Berkeley in 2006.

Fund Manager	Ibrahim Kanan
Manager Start Date	07/11/2024



Biography
Ibrahim Kanan is a member of the Fundamental Equity division of BlackRock's Portfolio Management Group. He is a co-Portfolio Manager for the BlackRock Fundamental US Equity Fund, Large Cap Concentrated Value portfolio and the BGF US Sustainable Equity Fund as well as a senior research analyst for the US Income & Value team. Prior to joining BlackRock in 2014, Mr. Kanan was an investment professional at private-equity firm Global Infrastructure Partners where he was responsible for new and existing investments within the midstream oil & gas, power and infrastructure sectors. He started his career in the Investment Banking division of Goldman Sachs in New York. Mr. Kanan earned a BS degree in Mechanical Engineering from MIT and an MBA degree from Harvard Business School.

Fees and Expenses

Sales Charges (Maximum)
Max Initial Charge	5.26%
Max Exit Charge*	n/a

Annual Charges
Max Annual Management Charge	0.75%
Ongoing Charge	1.06%

Purchase Details

Minimum Investments
Initial	100000 USD
Additional	1000 USD
Savings	-

Tax Free Savings Schemes
ISAs	Yes