BlackRock Multi Opportunity Absolute Ret Performance Review | News

What is the BlackRock Multi Opportunity Absolute Ret fund?

BlackRock Multi Opportunity Absolute Ret aims to achieve a return of 8% p.a., before fees, above the RBA Cash Rate Target (Benchmark) over rolling 3-year periods.

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Growth of $1000 Investment Over Time

Performance Report

Peer Comparison Report

Latest News & Updates For BlackRock Multi Opportunity Absolute Ret

BlackRock Multi Opportunity Absolute Ret Fund Commentary May 31, 2023

The Multi-Opportunity Absolute Return Fund delivered a negative return of -0.56% (net of fees) in May. This brings the Fund’s year-todate net performance to +0.89% and 1-year return to +4.32% (net of fees).

The small underperformance in May was driven by the Systematic Fixed Income component implemented by the Fixed Income Global Alpha strategy followed by the Systematic Equity Market Neutral component. The Fund’s Event Driven Strategy and Style Premia component also detracted, but this was offset by positive contributions from the Fundamental Equity Long/Short strategies and the Fund’s Global Macro component

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Product Snapshot

Product Overview
Performance Review
Peer Comparison
Product Details

Product Overview

Fund Name	APIR Code ? A Product Code is unique a identifier code issued by a group or governing body, to reference products in a large group. For an example, APIR codes are commonly used for Funds and Ticker codes are commonly used for Securities such as ETFs and Stocks.	Structure ?	Asset Class ? An Asset Class breakdown provides the percentages of core asset classes found within a mutual fund, exchange-traded fund, or another portfolio. Asset classes (in microeconomics and beyond) generally refer to broad categories such as equities, fixed income, and commodities.	Asset Category ? An Asset Category is a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations. Asset categories (or a sub-asset class) are made up of instruments which often behave similarly to one another in the marketplace, looking down to the Asset Category level is important if looking to build a diversified portfolio.	Peer Benchmark Name ? A Peer Index (benchmark) refers to a peer group of investment managers who have the same investment style or category. It is used to compare the performance of one manager to their peer group, which makes it simpler for investors to choose between the vast number of investment managers.	Broad Market Index ? A Market Index (benchmark) refers to a hypothetical portfolio of investments that represents a segment, asset or category of an investable market. Market Indices are used to benchmark managers performance, to assist their style reliability and ability to provide excess returns.	FUM ? Funds/Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. Assets under management definitions and formulas vary by company.	Management Fee ? A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting finanical products and managing the portfolio.	Performance Fee ? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized and unrealized. It is largely a feature of the hedge fund industry, where performance fees have made many hedge fund managers among the wealthiest people in the world.	Spread ? A spread can have several meanings in finance. Basically, however, they all refer to the difference between two prices, rates or yields. In one of the most common definitions, the spread is the gap between the bid and the ask prices of a security or asset, like a stock, bond or commodity. This is known as a bid-ask spread.
BlackRock Multi Opportunity Absolute Ret	BLK0001AU	Managed Funds	Alternatives	FOHF	Alternatives - FOHF Index	Credit Suisse AllHedge Fund Index	42.57 M	1.45%	0.67%	0.7%

Performance Review

Fund Name	Last Month ? Returns after fees in the most recent (last) month).	3 Months Return ? Returns after fees in the most recent 3 months.	1 Year Return ? Trailing 12 month returns.	3 Years Average Return ? Average Annual returns from the last 3 years.	Since Inc. Average Return ? Average (annualised) returns since inception	1 Year Std. Dev. (Annual) ? The standard deviation (or annual volatility) of the last 12 months.	3 Years Std. Dev. (Annual) ? The average standard deviation (or annual volatility) from the last 3 years.	Since Inc. Std. Dev. (Annual) ? The average standard deviation (or annual volatility) since the fund inception.	1 Year Max Drawdown ? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	3 Year Max Drawdown ? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	Since Inc. Max Drawdown ? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
BlackRock Multi Opportunity Absolute Ret	0.69%	2.47%	7.32%	4.14%	3.12%	2.35%	2.85%	3.79%	-0.36%	-3.24%	-6.79%

Peer Comparison

Fund Name	Peer Index Name ? A group of individuals who share similar characteristics and interests are called peer groups. Peer group analysis is an essential part of assessing a price for a particular stock in investment research. The emphasis here is on making a comparison, meaning that the peer group constituents should be more or less identical to the company being examined, especially in terms of their main business and market capitalization areas.	12 Months Excess Return ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	Excess Return Annualised Since Inception ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	12 Months Alpha ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market return over 12 months. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	Alpha Annualised Since Inception ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market annualized since inception. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	12 Months Beta ? Rolling 12Month Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	Beta Annualised Since Inception ? Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	12 Months Tracking Error ? 12Month Tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark over the last 12 months. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	Tracking Error Since Inception ? Since Inception tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark since inception. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	12 Months Correlation ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.	Correlation Since Inception ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
BlackRock Multi Opportunity Absolute Ret	Alternatives - FOHF Index	6.14%	0.23%	0.49%	0.06%	0.06%	0.95	1.84%	3.38%	0.66	0.61

Product Details

Fund Name	Verifed by SMSF Mates	Manager Address	Phone	Website	Email
BlackRock Multi Opportunity Absolute Ret	Yes	PO Box N43, Grosvenor Place, Sydney NSW 1220	02 9272 2200	https://www.blackrock.com/au	ishares.australia@blackrock.com

Product Due Diligence

What is BlackRock Multi Opportunity Absolute Ret

BlackRock Multi Opportunity Absolute Ret is an Managed Funds investment product that is benchmarked against Credit Suisse AllHedge Fund Index and sits inside the Alternatives - FOHF Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The BlackRock Multi Opportunity Absolute Ret has Assets Under Management of 42.57 M with a management fee of 1.45%, a performance fee of 0.67% and a buy/sell spread fee of 0.7%.

How has the investment product performed recently?

The recent investment performance of the investment product shows that the BlackRock Multi Opportunity Absolute Ret has returned 0.69% in the last month. The previous three years have returned 4.14% annualised and 3.79% each year since inception, which is when the BlackRock Multi Opportunity Absolute Ret first started.

How is risk measured in this investment product?

There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since BlackRock Multi Opportunity Absolute Ret first started, the Sharpe ratio is 0.4 with an annualised volatility of 3.79%. The maximum drawdown of the investment product in the last 12 months is -0.36% and -6.79% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.

What is the relative performance of the investment product?

Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The BlackRock Multi Opportunity Absolute Ret has a 12-month excess return when compared to the Alternatives - FOHF Index of 6.14% and 0.23% since inception.

Does the investment product produce Alpha over its Peers?

Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. BlackRock Multi Opportunity Absolute Ret has produced Alpha over the Alternatives - FOHF Index of 0.49% in the last 12 months and 0.06% since inception.

What are similar investment products?

For a full list of investment products in the Alternatives - FOHF Index category, you can click here for the Peer Investment Report.

What level of diversification will BlackRock Multi Opportunity Absolute Ret provide?

BlackRock Multi Opportunity Absolute Ret has a correlation coefficient of 0.61 and a beta of 0.95 when compared to the Alternatives - FOHF Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.

How do I compare the investment product with its peers?

For a full quantitative report on BlackRock Multi Opportunity Absolute Ret and its peer investments, you can click here for the Peer Investment Report.

How do I compare the BlackRock Multi Opportunity Absolute Ret with the Credit Suisse AllHedge Fund Index?

For a full quantitative report on BlackRock Multi Opportunity Absolute Ret compared to the Credit Suisse AllHedge Fund Index, you can click here.

Can I sort and compare the BlackRock Multi Opportunity Absolute Ret to do my own analysis?

To sort and compare the BlackRock Multi Opportunity Absolute Ret financial metrics, please refer to the table above.

Has the BlackRock Multi Opportunity Absolute Ret been independently verified by SMSF Mate?

This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.

How can I invest in BlackRock Multi Opportunity Absolute Ret?

If you or your self managed super fund would like to invest in the BlackRock Multi Opportunity Absolute Ret please contact PO Box N43, Grosvenor Place, Sydney NSW 1220 via phone 02 9272 2200 or via email ishares.australia@blackrock.com.

How do I get in contact with the BlackRock Multi Opportunity Absolute Ret?

If you would like to get in contact with the BlackRock Multi Opportunity Absolute Ret manager, please call 02 9272 2200.

Comments from SMSF Mates

SMSF Mate does not receive commissions or kickbacks from the BlackRock Multi Opportunity Absolute Ret. All data and commentary for this fund is provided free of charge for our readers general information.

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Historical Performance Commentary

Performance Commentary - April 30, 2023

The main drivers of performance were the Global Macro component followed by Systematic Equity Market Neutral. The Fundamental Equity component also supported the fund performance over the month. The Style Premia component was flat over the period. The Systematic Fixed Income component implemented by the Fixed Income Global Alpha strategy weighed on the fund performance over the month.

Performance Commentary - March 31, 2023

Three of the six hedge fund components contributed positively over the first quarter of the year. The main drivers of performance were Systematic Equity Market Neutral and the Style Premia component which supported the fund performance over the quarter while the Fundamental Equity component was relatively flat over the period. The Systematic Fixed Income component implemented by the Fixed Income Global Alpha strategy weighed on the fund performance over the quarter. Global Macro component also detracted over the period.

Performance Commentary - February 28, 2023

The Multi-Opportunity Absolute Return Fund delivered a positive return of +0.52% (gross) in February continuing the strong positive momentum from last quarter to this year as well.

Following a strong start to the year, financial markets experienced more volatility in February as strong economic data drove a repricing higher in interest rates. Global equities, as measured by the MSCI World Index (hedged), declined by 1.6% over the month, while the unhedged index finished February up 2.1% as currency moves offset the decline in international share prices. Fixed Income markets, as represented by the Bloomberg Barclay

Performance Commentary - November 30, 2022

Positive performance was delivered by two of the five hedge fund components. The main drivers of the performance were the Systematic Equity Market Neutral component and Global Macro. Underperformance was driven by Systematic Fixed Income component implemented through Fixed Income Global Alpha Fund. Style Premia and Fundamental Equity Long/ Short components had a relatively muted contribution to the fund return over the month.

Performance Commentary - October 31, 2022

October saw a reprieve for risk assets, with the European energy crisis showing signs of easing and investors speculating there could soon be a potential dovish pivot by central banks. Global equities rallied over the month and the MSCI World Index rose by +7.8% in Australian dollar terms, with Developed Markets outperforming their Emerging Market counterparts. Fixed Income markets saw varied performance, with global bonds closing the month down -0.4% while Australian bonds posted positive returns of +0.9%. Riskier parts of the fixed income market also recorded positive performance given the improvement in risk appetite and tightening of credit spreads.

The Event Driven strategy (BlackRock Global Merger Partners) had a positive return over the month. Top contributors: The Fund was invested in 11 mergers that closed during the month. A hard catalyst position in TD Bank/First Horizon contributed to performance as the merger spread tightened over the period. A position in Elon Musk/Twitter contributed to performance as the parties successfully completed the transaction at the original terms. Rogers Communications/Shaw Communications was also additive to performance following a government minister in Canada clarifying the regulatory condition on the transaction.

Performance Commentary - September 30, 2022

The Multi-Opportunity Absolute Return Fund delivered a positive return of +0.88% (gross) in September, bringing Q3 performance to +2.51% (gross). Five of the six hedge fund components contributed positively over the quarter. The Systematic Fixed Income component was the top contributor followed by the Systematic Equity Market Neutral component. Macro and Style Premia components also delivered positive returns over the period. The only detractor was the Fundamental Equity strategies which saw mixed performance from the sub-strategies over the period.

Performance Commentary - August 31, 2022

The BlackRock Multi Opportunity Absolute Return Fund had a slightly positive return of 0.84% over the month of August (gross).

BlackRock Multi Opportunity Absolute Ret (BLK0001AU) Report & Performance