Multi Asset

BLDIX

Managed Income Fund

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y
10.31 1.86 4.18 4.07
Benchmark (%) 11.48 0.71 5.58 5.00
Morningstar Category Avg. (%) 7.98 -0.15 3.34 2.86
Morningstar Ranking 16/157 9/149 30/138 7/106
Morningstar Quartile 1 1 1 1
Lipper Category Avg. (%) 7.85 -3.63 2.26 2.61
Lipper Ranking 55/358 21/338 22/291 11/174
Lipper Quartile 1 1 1 1
  YTD 1m 3m 1y 3y 5y 10y
10.31 3.78 7.46 10.31 5.70 22.70 48.97
Benchmark (%) 11.48 4.04 8.28 11.48 2.14 31.21 62.94
Morningstar Category Avg. (%) 7.98 3.44 6.56 7.98 -0.46 17.88 32.60
Lipper Category Avg. (%) 7.85 4.31 8.09 7.85 -10.34 11.95 29.79
  2019 2020 2021 2022 2023
Total Return (%) 9.74 5.78 5.61 -9.27 10.31
Benchmark (%) 15.37 11.35 6.88 -14.29 11.48
Morningstar Category Avg. (%) 11.20 7.29 5.04 -10.84 7.98

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

The Fund’s returns between July 29, 2013 and October 1, 2016 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Investment Grade Bond Portfolio.” The Fund’s returns prior to July 29, 2013 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Long Duration Bond Portfolio.” 

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Key Facts

Key Facts

Size of Class (Millions) as of Mar 18, 2024 $347.1 M
Size of Fund (Millions) as of Mar 18, 2024 $741.1 M
Share Class launch date Oct 19, 2007
Asset Class MultiAsset
Morningstar Category Conservative Allocation
Lipper Classification Multi-Sector Income Fds
Benchmark Index 70% Bloomberg U.S. Aggregate Bond Index/30% S&P 500 Index (USD)
CUSIP 091937185
Distribution Frequency Monthly
Number of Holdings as of Feb 29, 2024 2,277
Max Offer Price as of Mar 18, 2024 $9.34
Open to New Investors Yes
Turnover Percent in the Annual Report 60%

Portfolio Characteristics

Portfolio Characteristics

Fund Sharpe Ratio (3y) as of Feb 29, 2024 -0.05
30 Day SEC Yield as of Feb 29, 2024 5.51%
Unsubsidized 30-Day SEC Yield as of Feb 29, 2024 5.25%
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2024 9.45%
Worst 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2022 -7.22%
R-Squared (3y) as of Feb 29, 2024 93.09
Fund Standard Deviation (3y) as of Feb 29, 2024 7.78
Effective Duration 3.74 yrs

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of - -
MSCI - UN Global Compact Violators as of - -
MSCI - Nuclear Weapons as of - -
MSCI - Thermal Coal as of - -
MSCI - Civilian Firearms as of - -
MSCI - Oil Sands as of - -
MSCI - Tobacco as of - -

Business Involvement Coverage as of - -
Percentage of Fund not covered as of - -
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal -% and for Oil Sands -%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, societal or governance topics, and from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. Where appropriate, these reviews include discussion of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.64%
Net Expense Ratio 0.45%

Net Expense Ratio excluding Investment Related Expenses is 0.41%

  • Acquired Fund Fees and Expenses 0.04%
  • Interest expense 0.00%

There is an additional management fee waiver of 0.14% related to certain affiliated investments.

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for Managed Income Fund, Class Inst, as of Feb 29, 2024 rated against 143 Conservative Allocation Funds based on risk adjusted total return.

Lipper Leader

 
 
 
 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Feb 29, 2024 out of 337, 6,200, 337, 244 and 336 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective May 08, 2023)

Holdings

Holdings

as of Feb 29, 2024
Name Weight (%)
ISHARES CORE DIVIDEND GROWTH ETF 2.81
MICROSOFT CORP 0.59
MICROSOFT CORP - ELN 0.35
NOVO NORDISK CLASS B 0.32
APPLE INC 0.30
Name Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING 0.29
ACCENTURE PLC CLASS A 0.28
ASTRAZENECA PLC 0.27
LVMH 0.27
UNION PACIFIC CORP 0.27
as of Feb 29, 2024
Name Weight (%)
GILEAD SCIENCES INC 3.65 03/01/2026 0.36
OCP_20-19A A1R 144A 0.34
GSM_21-4A A1 144A 0.34
GLM_1R-R CR2 144A 0.33
AGL_20-5R A1R 144A 0.32
Name Weight (%)
BAYER US FINANCE LLC 144A 6.125 11/21/2026 0.31
AIGIM 2021-1A A 144A 0.30
PETROLEOS MEXICANOS MTN 6.875 08/04/2026 0.29
SPEAK_21-9A B 144A 0.27
GCBSL_18-37A B1 144A 0.27
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of Feb 29, 2024

% Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Feb 29, 2024

% Notional Exposures

Type Fund Benchmark Net
as of Apr 28, 2017

% Notional Exposures

Type Fund Benchmark Net
as of Feb 29, 2024

% Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Justin Christofel, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

   

Alex Shingler, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

     

Portfolio Manager

Literature

Literature

 

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