Cash

BISOX

Short Obligations Fund

Overview

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Performance

Performance

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  • Returns

  1y 3y 5y 10y Incept.
5.50 2.01 2.08 1.57 1.46
Benchmark (%) 5.14 2.16 2.02 1.39 -
Morningstar Category Avg. (%) 5.96 1.97 2.09 1.53 -
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.

Key Facts

Key Facts

Size of Class (Millions) as of 28-Mar-2024 $686.9
Size of Fund (Millions) as of 28-Mar-2024 $1,232.7
Base Currency U.S. Dollar
Performance Start Date 15-Nov-2012
Domicile United States
CUSIP 091936419
Fund Code 01880
Net Expense Ratio 0.35%
Gross Expense Ratio 0.38%
Minimum Initial Investment $2,000,000
Trading Deadline 4:00 p.m. (ET)
Asset Class Prime
Expenses are as of the most current prospectus. The Net Expense Ratio does not include a voluntary cap of 0.30% on Total Annual Fund Operating Expenses (excluding Dividend Expense, Interest Expense, Acquired Fund Fees and Expenses and certain other Fund expenses as a percentage of average daily net assets). The voluntary waiver or reimbursement may be reduced or discontinued at any time without notice. BlackRock may contractually agree to waive or reimburse certain fees until a specified date. Contractual waivers are terminable upon 90 days’ notice by a majority of the funds non-interested trustees or by a vote of the majority of the outstanding voting securities of the fund. The investment advisor and/or other service providers may also voluntarily agree to waive certain fees and expenses which can be discontinued at any time without notice. When waivers or reimbursements are in place, the operating expenses are reduced and total returns to the shareholder in the fund increase. Please see the prospectus for additional information.

Portfolio Characteristics

Portfolio Characteristics

1-day Yield as of 28-Mar-2024 5.03%
Unsubsidized 1-day Yield as of 28-Mar-2024 4.91%
7-day Yield as of 28-Mar-2024 5.03%
Unsubsidized 7-day Yield as of 28-Mar-2024 4.91%
30-day Yield as of 28-Mar-2024 5.03%
Unsubsidized 30-day Yield as of 28-Mar-2024 4.92%
Subsidized 30-Day SEC Yield as of 29-Feb-2024 5.30%
Unsubsidized 30-Day SEC Yield as of 29-Feb-2024 5.19%
Weighted Average Maturity as of 28-Mar-2024 173 days
Weighted Average Life as of 28-Mar-2024 245 days
Effective Duration as of 29-Feb-2024 0.43
Yield to Maturity as of 29-Feb-2024 5.54
Yield to Worst as of 29-Feb-2024 5.51

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 considers ESG information in the research, security selection and portfolio review stages of the investment process. The Fund manager conducts bi-weekly credit meetings, wherein each credit is examined through an internal relative value analysis, which contains qualitative governance considerations combined with environmental, societal and governance metrics derived from third-party data providers, where available. The Fund manager conducts regular portfolio risk reviews with Risk and Quantitative Analysis group. These reviews include discussion of the portfolio's exposure to material ESG risks, where appropriate.

Fund Ratings

Fund Ratings

Exposure Breakdowns

Exposure Breakdowns

as of 27-Mar-2024

% of Weight

Type Fund
The "Other Instrument – Note" category represents investment grade corporate bonds. The “Other Repurchase Agreement” category represents repurchase agreements backed by non-government securities, and any repurchase agreements not categorized as U.S. Treasury or U.S. Government Agency.
Sector exposure is calculated by aggregating the percent par of individual securities in the portfolio by security type. BlackRock uses a proprietary process to determine the security type of individual securities, by conducting a thorough analysis of the issuer/obligor, including but not limited to any support providers or enhancers. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 27-Mar-2024

% of Weight

Type Fund
Geographic exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio based on a hierarchy by security type. For repurchase agreements, exposure is rolled-up to the counterparty for Other Repurchase agreements. For US Treasury and US Government Agency repurchase agreements, exposure looks through to the underlying collateral. For Asset Backed Commercial Paper (“ABCP”), exposure looks to the sponsor level of the ABCP conduit. For Variable Rate Demand Notes, exposure rolls up to the credit-enhancer. The Geography report represents BlackRock’s view of each security’s geography risk. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 27-Mar-2024

% of Weight

Type Fund
Maturity is provided in days. Maturity exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio by the legal final maturity date, or for securities that have a demand feature, the date in which the demand feature is exercised and proceeds received. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 27-Mar-2024

% of Weight

Type Fund
"No S/T Rating" represents issuers that do not have a short term rating or committed cash. For issuers that don’t have a short term rating their issuer or guarantor long term equivalent would have a rating of BBB-, or equivalent, or higher by at least one nationally recognized statistical rating organization.

Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted by BlackRock 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. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Bradford Glessner, CFA
Director, Portfolio Manager

Bradford Glessner, CFA, Director, is a member of BlackRock's Cash Management Group. He is a Portfolio Manager responsible for managing active short-term fixed income portfolios for corporate, financial, and insurance clients.

Eric Hiatt, CFA, FRM
Managing Director, Portfolio Manager

Eric D. Hiatt, CFA, FRM, Managing Director and portfolio manager, is the Head of U.S. Portfolio Management for Cash Management within BlackRock Global Markets.

Portfolio Manager

Literature

Literature

 

How to Buy BlackRock Cash Management Funds

How to Buy BlackRock Cash Management Funds

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