Average annual total returns (%) as of 9/30/24
|
3Q24 (not annualized) |
YTD (not annualized) |
1 Year |
3 Year |
5 Years |
10 Years |
|
|
Class I (Without Sales Charge)1 |
1.40 |
24.11 |
43.54 |
7.22 |
16.94 |
15.33 |
|
Morningstar Large Growth Category Avg. |
3.46 |
22.70 |
40.12 |
7.57 |
16.57 |
14.41 |
|
Russell 1000 Growth2 |
3.19 |
24.55 |
42.19 |
12.02 |
19.74 |
16.52 |
The fund’s annual total returns prior to June 12, 2017 reflect a different investment strategy.
Data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown, which assumes reinvestment of dividends and capital gains. Insurance fees and charges are not included. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an unmanaged index.Expenses for Class I shares: Total 0.91%; Net, Including Investment Related Expenses (dividend expense, interest expense, acquired fund fees and expenses and certain other fund expenses) 0.79%; Net, Excluding Investment Related Expenses 0.79%. Expenses for Class III shares: Total 1.18%; Net, Including Investment Related Expenses (dividend expense, interest expense, acquired fund fees and expenses and certain other fund expenses) 1.05%; Net, Excluding Investment Related Expenses 1.05%.
Refer to (800)-441-7762 for most recent month-end performance.
Commentary as of 09/30/24
- The fund posted a return of 1.40% (Class I shares) for the third quarter of 2024.
- The largest contributor to relative performance was security selection in the communication services and health care sectors, as well as positioning in the financials sector. The largest detractor from relative returns was stock selection in the information technology (IT), consumer discretionary, and industrials sectors.
- The largest exposures were in the IT, communication services, and consumer discretionary sectors. During the quarter, the fund increased its allocations to the industrials and materials sectors, and reduced its exposures to the health care and IT sectors.
Top 10 holdings (%)
| Nvidia Corp (NVDA) | 13.42 |
| Microsoft (MSFT) | 10.37 |
| Amazon (AMZN) | 9.40 |
| Apple (AAPL) | 8.10 |
| Meta Platforms Inc Class A (META) | 5.97 |
|
Broadcom Inc (AVGO) |
4.36 |
|
Visa Inc Class A (V) |
3.59 |
|
Eli Lilly (LLY) |
3.43 |
|
Alphabet Inc Class A (GOOG)(GOOGL) |
3.34 |
|
ASML Holding Adr Representing Nv (ASML) |
2.94 |
Investment approach
Invests at least 80% of its net assets in large cap equity securities, and derivatives that have similar economic characteristics to such securities, that are components of, or have characteristics similar to, the securities included in the Russell 1000 Growth® Index.
|
Contributors |
Detractors |
|
The largest contributor was stock selection in the communication services sector, notably security selection in the interactive media & services industry. In the health care sector, selection decisions in the health care equipment & supplies industry boosted relative results. Lastly, an overweight exposure to the financials sector added value, notably investment decisions in the capital markets industry. |
The largest detractor was stock selection in the IT sector, notably security selection in the software industry. Another meaningful detractor included investment decisions in the automobiles industry in the consumer discretionary sector. In the industrials sector, stock selection in the commercial services & supplies industry hindered performance. |
Further insight
The economy is not the stock market, which is good news. Despite volatility in the summer, earnings growth led to a quick rebound in stocks. As the fourth quarter begins, we expect volatility from Federal Reserve and election uncertainty, positive stock reactions to interest rate cuts, and opportunities in large and mid caps. In the post-COVID-19 era, the economy has faced “mini rolling recessions” in technology and housing, though the stock market has adapted to more “normal” conditions. This return to normalcy brings more volatility, which will benefit skilled stock pickers.
|
Important Risks: The fund is actively managed and its characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions. The fund may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entails risks relating to liquidity, leverage and credit that may reduce returns and increase volatility. The opinions expressed are those of the fund’s portfolio management team as of September 30, 2024, and may change as subsequent conditions vary. Information and opinions are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings. 1 All data refers to the underlying variable insurance product and not the retail mutual fund of the same name. All returns assume reinvestment of all dividends and capital gains distributions. Total investment returns exclude separate account fees, insurance-related fees and expenses. See the fund’s prospectus and the prospectus for the applicable variable insurance product for more information including fees and expenses. 2 The Russell 1000 Growth Index represents performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000 Index companies with higher price-to-value ratios and higher forecasted growth values. You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the fund and are available, along with information on other BlackRock funds, by calling 800-882-0052 or from your financial professional. The prospectus should be read carefully before investing. ©2024 BlackRock, Inc. or its affiliates. All Rights Reserved. BLACKROCK is a trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners. Prepared by BlackRock Investments, LLC, member FINRA. Not FDIC Insured • May Lose Value • No Bank Guarantee 10/24 — Large Cap Focus Growth V.I. Fund |
Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.
This post originally appeared on BlackRock.
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