Continue to site >
Trending ETFs

Name

As of 06/21/2024

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

$11.57

$158 M

2.25%

$0.26

1.30%

Vitals

YTD Return

5.2%

1 yr return

11.5%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

4.8%

Net Assets

$158 M

Holdings in Top 10

44.1%

52 WEEK LOW AND HIGH

$11.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 128.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

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

$11.57

$158 M

2.25%

$0.26

1.30%

BPGLX - Profile

Distributions

  • YTD Total Return 5.2%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.10%
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    UBS GLOBAL ALLOCATION FUND
  • Fund Family Name
    UBSASSETMT
  • Inception Date
    Aug 31, 1992
  • Shares Outstanding
    N/A
  • Share Class
    P
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Nicole Goldberger

Fund Description

Principal investments

In order to achieve the Fund's objective, the Fund employs an asset allocation strategy that seeks to maximize total return. The Advisor does not represent or guarantee that the Fund will meet this total return goal.

Under normal circumstances, the Fund will invest in securities and derivatives to gain exposure to equity, fixed income, and alternative asset class securities, including, but not limited to, convertible bonds and real estate securities, including real estate investment trusts ("REITs") and real estate operating companies. The Fund may gain exposure to issuers located within and outside the United States, including securities of issuers in both developed (including the United States) and emerging markets countries.

Investments in fixed income securities may include, but are not limited to, debt securities of governments throughout the world (including the United States), their agencies and instrumentalities, debt securities of corporations, mortgage-backed securities and asset-backed securities. The Fund may invest in securities of any maturity greater than one year and such securities may be either investment grade or high yield (lower-rated or "junk bonds") securities. Investments in equity securities

may include, but are not limited to, common stock and preferred stock. The Fund may invest in other open-end investment companies advised by the Advisor and third-party passively managed exchanged-traded funds ("ETFs") to gain exposure to certain asset classes. The Fund may also take active positions on volatility to generate returns or to hedge the Fund's portfolio.

The Fund may, but is not required to, use exchange-traded or over-the-counter derivative instruments for risk management purposes or as part of the Fund's investment strategies. Generally, derivatives are financial contracts whose value depends upon, or is derived from, the value of an underlying asset, reference rate, index or other market factor and may relate to stocks, bonds, interest rates, credit, currencies or currency exchange rates, commodities and related indexes. The derivatives in which the Fund may invest include index options, futures, forward agreements, swap agreements (including, interest rate, credit default and inflation swaps), equity participation notes and equity linked notes. All of these derivatives may be used for risk management purposes, such as hedging against a specific security or currency (except with respect to equity participation notes and equity linked notes), or to manage or adjust the risk profile of the Fund. In addition, all of the derivative instruments listed above may be used for investment (non-hedging) purposes to earn income; to enhance returns; to replace more traditional direct investments; to obtain exposure to certain markets; or to establish net short positions for individual markets, currencies or securities. Futures on indices, forward agreements, interest rate swaps and credit default swaps may also be used to adjust the Fund's portfolio duration.

The Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies.

Under certain market conditions, the Fund may invest in companies at the time of their initial public offering ("IPO").

Management process

The Advisor will manage the Fund's portfolio using the following investment process as described below:

The strategy invests in the full spectrum of instruments and markets globally. The Advisor believes that the Advisor is able to improve the return outcome and risk management of the Fund by employing a well diversified strategy across a broad global opportunity set. Returns are generated from asset allocation across markets, currency and security selection.

Asset allocation decisions are primarily driven by UBS AM (Americas)'s assessment of valuation and prevailing market conditions in the United States and around the

world. Using a systematic approach, the portfolio management team analyzes the asset classes and investments across equities, fixed income, and alternative asset classes (including currency), considering both fundamental valuation, economic and other market indicators. Regarding valuation, the Advisor evaluates whether asset classes and investments are attractively priced relative to fundamentals. The starting point is to assess the intrinsic value of an asset class, as determined by the fundamentals that drive an asset class' future cash flow. The intrinsic value represents a long term anchor point to which the Advisor believes the asset class will eventually revert.

Fair value estimates of asset classes and markets are an output of UBS AM (Americas)'s proprietary valuation models. Discounting the asset's future cash flow using a discount rate that appropriately reflects the inherent investment risk associated with holding the asset gives the asset's fair value. The competitive advantage of the Advisor's models lies in the quality and consistency of the inputs used and, therefore, the reliability of valuation conclusions. The discrepancy between actual market level and fair value (the price/value discrepancy) is the primary valuation signal used in identifying investment opportunities.

Next, the Advisor assesses additional market indicators and considers the effect that other determinants of economic growth and overall market volatility will have on each asset class. While in theory price/value discrepancies may resolve themselves quickly and linearly, in practice price/value discrepancy can grow larger before it resolves. While valuation models have proven effective at identifying longer-term price/value discrepancies, in the shorter term other factors can swamp valuation considerations. Thus, the Advisor incorporates an additional discipline in our idea generation process. The Advisor refers to this additional step in its idea generation process as market behavior analysis. Adding this step helps the Advisor to understand what other market indicators might drive the market towards or away from fundamental value. The Advisor performs systematic analysis of non-valuation drivers using models measuring sentiment, momentum and flows, market stress, the stage of the economic cycle, as well as an assessment of the general macroeconomic landscape. Conversely, valuation considerations tend to dominate when an asset class is substantially above or below fair value, but the Advisor recognizes that the use of market behavior analysis during these periods is very important to helping improve the timing in and out of these asset classes with very stretched valuations.

The asset allocation process is structured around the Investment Solutions Investment Committee (the "ISIC Committee") meetings, which provides a forum for debate and the exploration of all ramifications of any

investment decision, rather than aiming for a consensus to be reached. Instead, any voting member of the ISIC Committee can sponsor a trade idea, preparing a detailed investment thesis to support the view. An investment thesis has to define the investment rationale based on valuation and market behavioral influences, the time scale for it being realized, the transaction costs and the potential milestones the Advisor would expect to evaluate whether or not the view is correct. The sponsor is then responsible for convincing another member of the ISIC Committee to support the idea as co-sponsor.

Bottom up selection across active equity and fixed income markets can be utilized as part of the asset allocation process at the asset class level. With respect to specific equity securities for inclusion in the Fund's equity asset classes, the Advisor may utilize fundamental valuation, quantitative and growth-oriented strategies. The Advisor's bottom up fixed income security selection strategy combines judgments about the absolute value of the fixed income universe and the relative value of issuer sectors, maturity intervals, security durations, credit qualities and coupon segments, as well as specific circumstances facing the issuers of fixed income securities.

The Advisor uses both fundamental valuation and market behavior analysis to make the two-pronged determination of risk budget and risk allocation. The Advisor works closely with the Risk Management team, members of which attend the ISIC Committee meetings, to determine the appropriate amount of risk capital to allocate to the underlying trade ideas given the strategy's risk budget and objectives, prevailing investment opportunities, and other strategy exposures. To assist in this process the Risk Management team performs scenario and correlation analysis to better understand the risk and diversification of the overall strategy, and attempts to ensure that unintended factor exposures are identified, managed and monitored.

Read More

BPGLX - Performance

Return Ranking - Trailing

Period BPGLX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -23.7% 16.4% 64.81%
1 Yr 11.5% -8.9% 48.3% 74.03%
3 Yr -0.4%* -2.2% 16.4% 39.64%
5 Yr 4.8%* -0.7% 13.4% 30.37%
10 Yr 4.4%* 0.9% 11.8% 45.68%

* Annualized

Return Ranking - Calendar

Period BPGLX Return Category Return Low Category Return High Rank in Category (%)
2023 7.1% -40.8% 20.6% 97.12%
2022 -20.5% -21.0% 24.5% 9.11%
2021 -9.5% -24.2% 27.8% 67.76%
2020 11.8% -23.1% 11.7% 7.21%
2019 11.1% -100.0% 20.6% 9.54%

Total Return Ranking - Trailing

Period BPGLX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -23.7% 16.4% 63.73%
1 Yr 11.5% -12.8% 48.3% 65.25%
3 Yr -0.4%* -3.4% 16.4% 35.37%
5 Yr 4.8%* -1.1% 13.4% 29.06%
10 Yr 4.4%* 0.9% 11.8% 43.09%

* Annualized

Total Return Ranking - Calendar

Period BPGLX Return Category Return Low Category Return High Rank in Category (%)
2023 9.7% -40.8% 20.6% 97.12%
2022 -16.8% -21.0% 24.5% 9.11%
2021 8.2% -24.2% 27.8% 69.63%
2020 13.8% -23.1% 11.7% 23.08%
2019 19.0% -2.9% 23.1% 15.53%

NAV & Total Return History


BPGLX - Holdings

Concentration Analysis

BPGLX Category Low Category High BPGLX % Rank
Net Assets 158 M 1.12 M 110 B 65.66%
Number of Holdings 333 2 10961 44.05%
Net Assets in Top 10 70.4 M -31.7 M 22 B 59.71%
Weighting of Top 10 44.07% 10.8% 100.0% 33.48%

Top 10 Holdings

  1. PACE International Equity Investments 9.38%
  2. PACE International Emerging Markets Equity Investments 6.53%
  3. UBS Emerging Markets Equity Opportunity Fund 6.49%
  4. PACE High Yield Investments 5.63%
  5. SPDR Portfolio High Yield Bond ETF 4.50%
  6. U.S. Treasury Inflation-Indexed Notes 3.48%
  7. iShares J.P. Morgan USD Emerging Markets Bond ETF 3.01%
  8. State Street Institutional US Government Money Market Fund 2.57%
  9. Microsoft Corp. 1.26%
  10. UBS All China Equity Fund 1.24%

Asset Allocation

Weighting Return Low Return High BPGLX % Rank
Stocks
63.72% -45.72% 98.42% 78.71%
Bonds
28.28% -39.76% 93.84% 15.24%
Cash
5.25% -97.12% 185.58% 38.41%
Other
2.74% -1.25% 197.12% 60.13%
Convertible Bonds
0.10% 0.00% 25.49% 65.97%
Preferred Stocks
0.00% -0.03% 14.00% 54.07%

Stock Sector Breakdown

Weighting Return Low Return High BPGLX % Rank
Technology
21.61% 0.00% 39.48% 21.66%
Financial Services
15.64% 0.00% 30.34% 40.55%
Healthcare
12.06% 0.00% 30.30% 49.47%
Consumer Cyclical
10.39% 0.00% 20.84% 41.40%
Industrials
9.32% 0.09% 32.39% 68.15%
Communication Services
8.77% 0.00% 28.59% 11.25%
Energy
7.75% 0.00% 38.61% 46.28%
Consumer Defense
7.46% 0.00% 31.85% 31.00%
Basic Materials
4.08% 0.00% 60.23% 77.92%
Real Estate
1.60% 0.00% 90.14% 46.92%
Utilities
1.31% 0.00% 40.29% 81.10%

Stock Geographic Breakdown

Weighting Return Low Return High BPGLX % Rank
US
55.72% -4.82% 95.75% 68.68%
Non US
8.00% -46.69% 57.06% 74.74%

Bond Sector Breakdown

Weighting Return Low Return High BPGLX % Rank
Government
30.68% 0.00% 98.64% 17.54%
Corporate
17.26% 0.00% 99.90% 60.75%
Securitized
14.69% 0.00% 83.28% 27.35%
Cash & Equivalents
4.14% 0.10% 100.00% 61.80%
Derivative
1.13% 0.00% 41.88% 56.16%
Municipal
0.00% 0.00% 31.28% 43.84%

Bond Geographic Breakdown

Weighting Return Low Return High BPGLX % Rank
US
24.18% -177.12% 87.76% 29.02%
Non US
4.10% -39.00% 137.36% 7.72%

BPGLX - Expenses

Operational Fees

BPGLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.30% 0.16% 2.71% 53.03%
Management Fee 0.80% 0.00% 1.70% 84.37%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.70% 32.11%

Sales Fees

BPGLX 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

BPGLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 94.12%

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.

BPGLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 128.00% 0.00% 441.00% 83.97%

BPGLX - Distributions

Dividend Yield Analysis

BPGLX Category Low Category High BPGLX % Rank
Dividend Yield 2.25% 0.00% 10.92% 37.84%

Dividend Distribution Analysis

BPGLX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Monthly

Net Income Ratio Analysis

BPGLX Category Low Category High BPGLX % Rank
Net Income Ratio 1.10% -5.20% 6.33% 65.36%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BPGLX - Fund Manager Analysis

Managers

Nicole Goldberger


Start Date

Tenure

Tenure Rank

Apr 01, 2020

2.16

2.2%

Nicole is a Portfolio Manager and Head of Growth Portfolios within the Investment Solutions team, based in New York. She is responsible for the management and investment oversight of all growth portfolios globally. In January 2020, Nicole joined UBS Asset Management from JPMorgan Asset Management's Multi-Asset Solutions team, where she was the lead portfolio manager responsible for managing Global Tactical Asset Allocation (GTAA) and balanced portfolios for institutional and retail clients. Prior to that, Nicole was a portfolio manager for a range of different multi-asset class solutions, including flexible total return portfolios with private markets, diversified benchmark-aware mandates, 529 age-based portfolios, inflation aware multi-strategy funds, liability-driven investment (LDI) portfolios and target date funds. Having spent over 16 years at JPMorgan, Nicole also focused on manager selection and portfolio construction across both traditional and alternative asset classes. Nicole is a CFA charterholder. In 2019, Nicole was named by Citywire as one of the best 30 female fund managers in the world.

Evan Brown


Start Date

Tenure

Tenure Rank

Jun 23, 2021

0.94

0.9%

Evan Brown, CFA is a Portfolio Manager and Head of Multi-Asset Strategy in the Investment Solutions team at UBS Asset Management. He co-manages UBS’s Global Allocation Fund, US Allocation Fund and Multi-Asset Portfolios (MAPs). As Head of Multi-Asset Strategy, Evan drives macro research and tactical asset allocation investment process for over $160 billion in client portfolios. Prior to joining Investment Solutions, Evan was a strategist and portfolio manager for macro hedge fund strategies at UBS O'Connor and Millennium. Previously, Evan co-ran US FX Strategy at Morgan Stanley, where he was top ranked in the All-Americas Institutional Investor poll for Currencies/Foreign Exchange. Evan worked on the New York Fed's Open Markets Desk from 2006 to 2009, where he briefed senior policymakers on financial market developments and helped build policy responses during the Global Financial Crisis. Evan holds an M.B.A. from the Stanford Graduate School of Business and a B.A. in economics from Brown University.

Thomas Oesch


Start Date

Tenure

Tenure Rank

May 02, 2022

0.08

0.1%

Thomas Oesch, CFA, is a portfolio manager in the Investment Solutions team and an Executive Director at UBS Asset Management. Mr. Oesch has been at UBS Asset Management since 2006. Mr. Oesch has been a portfolio manager of the Fund since May 2022.

Tenure Analysis

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