Address And Details

40 East 52nd Street , New York, NY 10022
Fund Manager Philip Green
Manager Tenure 4 Years 10 Months

Strategy And Objective

The investment objective of BlackRock LifePath Dynamic 2045 Fund ( LifePath Dynamic 2045 Fund or the Fund ), a series of BlackRock Funds III (the Trust ), is to seek to provide for retirement outcomes based on quantitatively measured risk. In pursuit of this objective, the Fund will be broadly diversified across global asset classes, with asset allocations becoming more conservative over time. LifePath Dynamic 2045 Fund allocates and reallocates its assets among a combination of equity, bond and money market funds (the Underlying Funds ) and derivatives in proportions based on its own comprehensive investment strategy. Under normal circumstances, the Fund intends to invest primarily in affiliated open-end funds and affiliated exchange-traded funds ( ETFs ), some of which may be index funds. The Fund may, when consistent with its investment goal, buy or sell options or futures, or enter into total return swaps and foreign currency transactions (collectively, commonly known as derivatives). The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may use derivatives as a substitute for taking a position in an Underlying Fund and/or as part of a strategy to reduce exposure to certain risks. The Fund may also use derivatives to enhance return, in which case their use may involve leveraging risk. Derivatives that are used as a substitute for taking a position in an Underlying Fund, to reduce exposure to risks (other than duration or currency risk) or to enhance return will increase or decrease the Fund s equity or fixed income allocations for purposes of the glide path by the notional amount of such derivatives. Derivatives that are used to manage duration or hedge currency risk will not be allocated to the Fund s equity or fixed income allocations for purposes of the glide path. The Fund is designed for investors expecting to retire or to begin withdrawing assets around the year 2045. The Fund seeks to provide for retirement outcomes based on quantitatively measured risk. BFA employs a multi-dimensional approach to assess risk for the Fund and to determine the Fund s allocation across asset classes. As part of this multi-dimensional approach, BFA aims to quantify risk using proprietary risk measurement tools that, among other things, analyze historical and forward-looking securities market data, including risk, asset class correlations, and expected returns. As of January 31, 2020, the Fund held approximately 96% of its assets in equity Underlying Funds and equity related derivatives, approximately 1% of its assets in fixed income Underlying Funds and fixed income related derivatives and the remainder of its assets in Underlying Funds that invest primarily in money market instruments. Certain Underlying Funds may invest in equity securities of issuers that are primarily engaged in or related to the real estate industry, real estate investment trusts ( REITs ), foreign securities, emerging market securities, below investment-grade bonds, commodity-related instruments and derivative securities or instruments, such as options and futures, the value of which is derived from another security, a commodity, a currency or an index. Under normal circumstances, the asset allocation will change over time according to a glide path as the Fund approaches its target date. The glide path below represents the shifting of asset classes over time. As the glide path shows, the Fund s asset mix becomes more conservative prior to retirement as time elapses. This reflects the need for reduced investment risks as retirement approaches and the need for lower volatility of the Fund, which may be a primary source of income after retirement. The asset allocation targets are established by the portfolio managers. The investment team, including the portfolio managers, meets regularly to assess market conditions, review the asset allocation targets of the Fund, and determine whether any changes are required to enable the Fund to achieve its investment objective. Although the asset allocation targets listed for the glide path are general, long-term targets, BFA may adjust the allocation to equity and fixed-income in the Fund, based on an assessment of the current market conditions and the potential contribution of each asset class to the expected risk and return characteristics of the Fund. In general, the adjustments will be limited to +/- 10% relative to the target allocations. BFA may determine, in light of market conditions or other factors, that a greater variation is warranted to protect the Fund or achieve its investment objective. Investments in Underlying Funds will be allocated towards the equity and fixed income percentages based on their classification. The Fund may also seek asset allocation to equity and fixed income by investing in funds that invest in a mix of equity and fixed income instruments ( multi-asset funds ). Investments in multi-asset funds will be allocated towards the equity and fixed income percentages listed for the glide path based on the multi-asset fund s underlying investments in equity and fixed income instruments. BFA s second step in the structuring of the Fund is the selection of the Underlying Funds, equity securities and derivatives. Factors such as fund classifications, historical risk and performance, and the relationship to other Underlying Funds in the Fund are considered when selecting Underlying Funds. The specific Underlying Funds selected for the Fund are determined at BFA s discretion and may change as deemed appropriate to allow the Fund to meet its investment objective. See the Details About the Funds Information About the Underlying Funds section of the prospectus for a list of the Underlying Funds, their classification into equity, fixed income, multi-asset or money market funds and a brief description of their investment objectives and primary investment strategies. The specific securities or derivatives selected for the Fund are determined at BFA s discretion and may change as deemed appropriate to allow the Fund to meet its investment objective. Within the prescribed percentage allocations to equity and fixed-income, BFA seeks to diversify the Fund. The equity allocation may be further diversified by style (including both value and growth funds and issuers), market capitalization (including large cap, mid cap, small cap and emerging growth funds and issuers), region (including domestic and international (including emerging market) funds and issuers) or other factors. The fixed-income allocation may be further diversified by sector (including government, corporate, agency, and other sectors), duration (a calculation of the average life of a bond which measures its price risk), credit quality (including non-investment grade debt or junk bonds), geographic location (including U.S. and foreign-issued securities), or other factors. Though BFA seeks to diversify the Fund, certain Underlying Funds may concentrate their investments in specific sectors or geographic regions or countries. The percentage allocation to the various styles of equity and fixed-income are determined at the discretion of the investment team and can be changed to reflect the current market environment.

Net Asset Value

as of 7:17 PM ET 09/20/2021

Performance

  • 1 Week
  • -2.42%
  • 1 Month
  • -0.80%
  • 3 Months
  • +0.93%
  • 1 Yr Return
  • +25.58%
  • 5 Yr Return
  • +37.11%

Equity Sector Breakdown

Finance 94.59%
ConsumerDurables n/a
Energy n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Other 94.60%
Stocks 5.40%
Cash 0.00%
Bonds 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 1.32 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -4.15 -3.72 -4.80
Beta 0.96 0.94 0.94
R Squared 0.96 0.94 0.92
Std Deviation 18.15 14.48 13.09
Sharpe Ratio 0.72 0.86 n/a

Purchase Information

as of 6:58 PM ET 09/17/2021
Minimum Initial $1000
Minimum Additional $50
Minimum Initial IRA $0

Performance

Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 06/30/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 06/30/2021
1 Year
  • +27.05%
  • +37.45%
+27.05% +37.45%
3 Year
  • +12.42%
  • +12.76%
+12.42% +12.76%
10 Year
  • +9.79%
  • +8.68%
+9.79% +8.68%
Life Of Fund
  • +10.59%
  • +10.53%
+10.59% +10.53%

Top 10 Holdings

Symbol Company Name % Of Assets
SCZ ISHARES MSCI EAFE SM CAP IDX 5.61%
PCBAX BLACKROCK TACTICAL OPPORTUNIT 4.77%
BKRDX ISHARES DEV REAL ESTATE INDEX 4.44%
BLSAX BLACKROCK ADV EMERGING MARKET 11.02%
TIP ISHARES BARCLAYS TIPS BOND FD 1.91%
BCRIX LIFEPATH COREALPHA BOND MASTR 1.44%
AGG ISHARES CORE US AGGREGATE BON 1.06%
LQD ISHARES IBOXX INVEST GR CORP 0.29%

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