PERFORMANCE

as of
  1y 3y 5y 10y Incept.  
3.67 7.75 8.19 5.60 5.70
Market Price Total Return (%)   -2.82 3.34 5.90 5.33 4.17
as of
  1m YTD 1y 3y 5y 10y Incept.  
-0.32 4.33 3.67 25.10 48.23 72.47 82.33
Market Price Total Return (%)   -3.30 3.50 -2.82 10.35 33.18 68.11 55.66
Lipper Ranking   6/30 8/27 4/22
as of
  2010 2011 2012 2013 2014
Total Return (%)   13.68 1.96 14.98 8.40 2.90
Market Price Total Return (%)   27.40 -12.15 20.30 -1.37 -2.03


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.
Performance chart data not available for display.
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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

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Ex-Date Payable Date Record Date Total Distribution   Return of Capital

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Year Total Distribution  

Past distributions are not indicative of future distributions.



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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 30-Jun-2015

Name Weight (%)
FIRST DATA CORPORATION 2.36
ENDO LUXEMBOURG FINANCE CO I SARL 1.88
VALEANT PHARMACEUTICALS INTERNATIONAL INC 1.88
LEVEL 3 FINANCING INC 1.85
DAVITA HEALTHCARE PARTNERS INC 1.66
GATES GLOBAL LLC 1.50
LA QUINTA INTERMEDIATE HOLDINGS LLC 1.36
HD SUPPLY INC 1.13
REYNOLDS GROUP HOLDINGS INC 1.11
AMAYA BV 1.08

Exposure Breakdowns

as of 30-Jun-2015

% of Market Value  

United States

87.6%

Canada

3.9%

Luxembourg

3.7%

Netherlands

2.4%

Cayman Islands

1.8%

United Kingdom

1.0%

Germany

0.7%

Bermuda

0.2%

Marshall Islands

0.2%

Jersey, Channel Islands

0.2%

as of 30-Jun-2015

% of Market Value  

North America

93.7%

Europe

8.3%

Cash and Derivatives

-2.0%

Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 30-Jun-2015

% of Market Value  

Term Loans

95.1%

High Yield Bonds

3.2%

CLO

2.8%

Equity/Equity Futures

0.4%

Convertibles

0.3%

Securitized Products

0.2%

Preferred Equity

0.0%

Other

0.0%

Cash and Derivatives

-2.0%

as of 30-Jun-2015

% of Market Value  

Cash and Derivatives

-2.0%

0 - 1 Years

2.9%

1 - 2 Years

1.9%

2 - 3 Years

7.4%

3 - 5 Years

35.7%

5 - 7 Years

50.1%

7 - 10 Years

4.0%

10 - 15 Years

0.2%

as of 30-Jun-2015

% of Market Value  

Fixed Income

101.6%

Equity

0.4%

Cash and Derivatives

-2.0%

Allocations subject to change.
as of 30-Jun-2015

% of Market Value  

Cash and Derivatives

-2.0%

AAA Rated

0.2%

A Rated

0.1%

BBB Rated

2.5%

BB Rated

33.5%

B Rated

56.7%

CCC Rated

5.4%

Not Rated

3.7%

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.

as of 30-Jun-2015

% of Market Value  

USD

98.5%

EUR

0.6%

GBP

0.5%

CAD

0.4%

MXN

-

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.

Ratings

  • Morningstar Rating
     
  • Overall   :
  • 4
  • Overall Morningstar Rating for Floating Rate Income Trust as of 30-Jun-2015 rated against 22 Bank Loan Funds.

PORTFOLIO MANAGEMENT

KEY FACTS

Net Assets

as of 28-Jul-2015

$343,982,149
Managed Assets  

as of 28-Jul-2015

$467.0 M
Asset Class Fixed Income
Exchange New York Stock Exchange Inc.
Morningstar Category Bank Loan
Lipper Classification Loan Participation Funds
CUSIP 091941104
Inception Date Aug 30, 2004

Total Expense Ratio 1.52%
Management Fee 1.03%

Shares Outstanding

as of 28-Jul-2015

23,663,232
3m Avg Volume

as of 30-Jun-2015

59,690
Number of Holdings

as of 30-Jun-2015

454
Premium/Discount  

as of 28-Jul-2015

-11.97%

PORTFOLIO CHARACTERISTICS

Distribution Rate  

as of 28-Jul-2015

6.12%

WAL to Worst  

as of 30-Jun-2015

4.89 yrs
Leverage  

as of 30-Jun-2015

127,000,000.00M
% Leveraged  

as of 30-Jun-2015

26.96
Effective Duration  

as of 30-Jun-2015

0.47 yrs
Yield to Worst  

as of 30-Jun-2015

6.46%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses. Read the prospectus carefully before investing.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. Compared to more established economies, the value of investments in developing Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares.

Performance results reflect past performance and are no guarantee of future results. Current performance may be lower or higher than the performance data quoted. All returns assume reinvestment of all dividends. The market value and net asset value (NAV) of a fund's shares will fluctuate with market conditions. Closed-end funds may trade at a premium to NAV but often trade at a discount.

Investment return, price, yields and NAV will fluctuate with changes in market conditions. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. There is no assurance that a fund will meet its investment objective.

Some funds may utilize leveraging to seek to enhance the yield and net asset value of its common stock, through bank borrowings, issuance of short-term debt securities or shares of preferred stock, or a combination thereof. However, these objectives cannot be achieved in all interest rate environments. While leverage may result in a higher yield for the fund, the use of leverage involves risk, including the potential for higher volatility of the NAV, fluctuations of dividends and other distributions paid by the fund and the market price of the fund's common stock, among others. Certain funds may invest assets in securities of issuers domiciled outside the United States, including issuers from emerging markets. Foreign investing involves special risks, including foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Lipper rankings are based on total return using market prices.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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