BGF Global Multi-Asset Income Fund
Michael Fredericks, Managing Director, is head of US Retail Asset Allocation for the BlackRock's Multi-Asset Strategies (MAS) group. He is responsible for the development and management of asset allocation strategies for retail clients.
Mr. Fredericks joined BlackRock in 2011 from JPMorgan Asset Management where he was an Executive Director and portfolio manager in the Global Multi-Asset Group (GMAG) responsible for retail asset allocation solutions. At JPMorgan he managed both tactical constrained and absolute return strategies, co-managed the JPMorgan Diversified Fund and the JPMorgan Income Builder Fund, and served on the GMAG New York investment committee. Previously he was an equity analyst responsible for global consumer discretionary stocks at Nicholas Applegate Capital Management. He also performed investment manager due diligence at Callan Associates.
Mr. Fredericks holds a B.A. in Economics and History from the University of California, Berkeley and an M.P.I.A. from the Graduate School of International Relations and Pacific Studies at the University of California, San Diego.
Peter Wilke, CFA, Director and portfolio manager, is a member of the BlackRock Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing global tactical asset allocation portfolios as well as outcome oriented investment solutions. Mr. Wilke is a portfolio manager for a range of multi-asset portfolios for both institutional and individual investors. In addition to traditional tactical asset allocation portfolios, he manages income-oriented strategies, managed volatility strategies and real return strategies.
Mr. Wilke's service with the firm dates back to 2005, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. He began his career at MLIM as part of the graduate program, where he spent one year on the European Equity team. Prior to his current role, he served as a research analyst and portfolio manager within the Active Asset Allocation team in London before joining the MAS team in New York in 2010.
Mr. Wilke earned a BSc degree, with honours, in international economics from Nottingham University in 2004 and an MSc degree in economics and finance from Warwick Business School in 2005.
Justin Christofel, CFA, CAIA, Director and portfolio manager, is a member of the BlackRock Multi-Asset Strategies (MAS) group, which is responsible for developing, assembling and managing global tactical asset allocation portfolios as well as outcome oriented investment solutions. Mr. Christofel is a portfolio manager for a range of multi-asset portfolios for both institutional and individual investors. In addition to traditional tactical asset allocation portfolios, he manages income-oriented strategies, managed volatility strategies and real return strategies.
Prior to joining BlackRock in 2007, Mr. Christofel was with Oliver Wyman, a consulting firm specialising in financial services. His projects ranged from retail banking to structured finance.
Mr. Christofel earned a BA degree, with honours, in economics and mathematics from Yale University.
Summary of Investment Objective
The Fund follows a flexible asset allocation policy that seeks an above average income without sacrificing long term capital growth. The Fund invests globally in the full spectrum of permitted investments including equities, equity-related securities, fixed income transferable securities (which may include some high yield fixed income transferable securities), units of undertakings for collective investment, cash, deposits and money market instruments. The Fund makes use of derivatives for the purposes of efficient portfolio management including the generation of additional income for the Fund. This Fund distributes income gross of expenses. Currency exposure is flexibly managed. Risk management measure used: Relative VaR using 50% MSCI World Index / 50% Barclays Capital Global Aggregate Bond Index Hedged as the appropriate benchmark. Expected level of leverage of the Fund: 350% of Net Asset Value.
Why Invest in this fund?
- A Go-Anywhere Income Solution - With a target of 4-6% income per annum, the Fund's unconstrained strategy searches out the best income opportunities across asset classes and around the world.
- Tactically Balancing Yield and Volatility - The Fund employs tactical asset to find yield opportunities, adapt to market challenges and provide strong risk-adjusted income.
- The Fund is managed by our Multi-Asset Strategies team - Drawing on BlackRock's expertise across the broadest possible range of income-generating assets such as corporate bonds, high yield bonds, global and emerging equities.
How We Aim to Achieve Our Objectives
- By expanding the income landscape, the Fund has the flexibility to seek out the best income opportunities around the world and across asset classes. That includes traditional equities and fixed income, as well as alternative assets including indirect investments in infrastructure, property and commodities.
- The Fund employs tactical asset allocation to adapt to market challenges and seize opportunities, resulting in a smoother income experience for clients. It also facilitates a more active method of managing risk levels and sector exposures. The portfolio managers will also access other sources of income – including options strategies – to balance risk, return and income.