BlackRock Global Event Driven

Investment Objective

The BlackRock Global Event Driven Fund seeks to achieve a positive absolute return for investors regardless of market movements. The fund seeks to achieve this investment objective by taking long, synthetic long and synthetic short investment exposures on a global basis.

Latest Meeting Note

Conference Call 19 Mar 2020

The fund came into the year with a very conservative risk position with exposure just c.80% LMV. March has seen aggressive spread widening and in response the PM has made some modest reductions to single name event exposures. The team ha... Read more

The fund came into the year with a very conservative risk position with exposure just c.80% LMV. March has seen aggressive spread widening and in response the PM has made some modest reductions to single name event exposures. The team have been focussed on identifying 'correlated risks' in the current stressed environment. This has led them to focus on their LBO-linked deals which can show heightened risk in this environment. Their single largest LBO-linked position closed last week, one is likely to close shortly, and residual exposure is limited. Even if there is elevated deal risk, spreads are now more than compensating for this. The fund is currently 81% LMV invested.

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2019 0.2 0.7 0.8 0.5 0.7 0.4 0.6 0.2 0.9 0.4 0.5 0.3 0.2
2018 0.5 0.7 0.1 0.3 0.4 0.7 0.2 0.5 0.5 0.8 0.7 0.1 0.2

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