BlackRock Pacific AMDPCX

Morningstar Rating

Fund Research and Analysis

by William Samuel Rocco

BlackRock Pacific Fund has potential.

This fund's expense ratio increased from 1.16% as of the end of 2008 (per its annual report) to 1.28% as of mid-2009 (per its semiannual report). But the costs of many mutual funds rose during the period, due to declines in their asset bases. Read more

Kudos

Low expenses.

New managers have significant Asia-investing experience.

New managers have gotten off to a nice start here. Read more

Risks

Manager change in late 2008.

Benchmark was changed and strategy was modified in late 2008.

Managers' records tend to be fairly short or middling.

Strategy

Nick Scott and Robert Weatherston share their predecessor's dedication to value-oriented stock selection, but they have added a top-down component to the fund's strategy. In particular, they make active asset-allocation calls, particularly between Japan and the rest of the region, based on macroeconomic indicators, market valuations relative to their histories and outlooks, currency strength, corporate earnings growth, and momentum. Read more

Management

Ben Moyer left in August 2008 after roughly two years at the helm and 12 years as a senior analyst here. Hong Kong-based Nick Scott and Japan-based Robert Weatherston are now in charge. Scott, who serves as the firm's CIO for Asian Equities, has been running BGF Asian Dragon since 2007, and he had Asian-investment experience before he joined BlackRock in early 2007. Read more

Inside Scoop

This pan-Asia fund changed its management team, switched its benchmark, and modified its strategy in late 2008. Read more

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