Multi Asset

BIICX

Multi-Asset Income Fund

Overview

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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
2.11 3.97 4.80 5.85 5.49
Benchmark (%) Index: 50% MSCI World Ind(Net TR)/50% Bar US Agg Ind.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 5.30 5.20 6.18 5.32 4.86
Morningstar Category Avg. (%) Tactical Allocation 6.16 4.13 4.83 4.29 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 256/297 146/248 104/185 6/77 -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 4 3 3 1 -
Lipper Category Avg. (%) Flexible Portfolio Funds 5.43 4.38 5.26 5.08 -
Lipper Ranking Rankings are based on total return excluding sales charges. 523/631 273/487 229/366 48/170 -
Lipper Quartile Rankings are based on total return excluding sales charges. 4 3 3 2 -
  YTD 1m 3m 1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
-1.25 -0.32 0.10 2.11 12.38 26.41 76.63 72.84
Benchmark (%) Index: 50% MSCI World Ind(Net TR)/50% Bar US Agg Ind.<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. -0.52 -0.09 0.79 5.30 16.43 34.99 67.99 62.51
Morningstar Category Avg. (%) Tactical Allocation -0.86 -0.43 0.63 6.16 14.06 24.75 57.37 -
Lipper Category Avg. (%) Flexible Portfolio Funds -0.70 -0.27 0.55 5.43 13.93 29.93 66.47 -
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.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of Aug 17, 2018 $9,311.8 M
Size of Fund (Millions) as of Aug 17, 2018 $16,524.5 M
Share Class launch date Apr 07, 2008
Asset Class MultiAsset
Morningstar Category Tactical Allocation
Lipper Classification Flexible Portfolio Funds
Benchmark Index 50% MSCI World Ind(Net TR)/50% Bar US Agg Ind
CUSIP 09256H336
Number of Holdings as of Jul 31, 2018 4,032
Max Offer Price as of Aug 17, 2018 $10.78
Open to New Investors Yes
Turnover Percent as of Jul 31, 2018 75%

Portfolio Characteristics

Portfolio Characteristics

Best 3-Month Return Over the Last 3 Years 3 months ending May 31, 2016 5.32%
Worst 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2016 -3.47%
Standard Deviation (3y) as of Jul 31, 2018 4.23

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.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for Multi-Asset Income Fund, Class Inst, as of Jul 31, 2018 rated against 250 Tactical Allocation Funds.

Morningstar Analyst Rating

Morningstar Analyst Rating - Silver
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective May 16, 2018) ‡

Holdings

Holdings

as of Jun 29, 2018
Name Weight (%)
ENTERPRISE PRODUCTS PARTNERS UNITS 0.48
ENERGY TRANSFER PARTNERS UNITS 0.46
MAGELLAN MIDSTREAM PARTNERS UNITS 0.41
MPLX COMMON UNITS 0.37
PLAINS ALL AMERICAN PIPELINE UNITS 0.37
Name Weight (%)
SANOFI SA 0.29
WILLIAMS PARTNERS UNITS 0.29
TWITTER INC - ELN 0.26
TARGET CORP - ELN 0.25
ACTIVISION BLIZZARD INC - ELN 0.25
as of Jun 29, 2018
Name Weight (%)
ISHARES IBOXX HIGH YIELD CORP BOND 3.19
CREDIT SUISSE GROUP AG 144A 6.25 12/31/2049 0.39
ROYAL BANK OF SCOTLAND GROUP PLC 8.625 12/31/2049 0.37
HSBC HOLDINGS PLC 6 12/31/2049 0.33
MORGAN STANLEY 5.85 12/31/2049 0.31
Name Weight (%)
SOCIETE GENERALE SA 144A 8 12/31/2049 0.30
WESTPAC BANKING CORP. (NEW ZEALAND 5 12/31/2049 0.30
STATE STREET CORP 3.34063 06/15/2037 0.29
ANDEAVOR LOGISTICS LP 6.875 12/31/2049 0.29
HOUSTON CENTER (BSREP II HOUSTON) Prvt 0.28
Holdings shown are unaudited and are based on the fund’s unofficial books and records, and may not be representative of current or future investments. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities.

The holdings report provided represents certain information regarding the traded positions held within the portfolio as of the specified date. It does not include cash, accrued income and/or payables/receivables. The total assets reflected on the holdings report provided will not match to the net asset value of the fund as these items are excluded.

Exposure Breakdowns

Exposure Breakdowns

as of Jun 29, 2018

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Jun 29, 2018

% of Market Value

Type Fund Benchmark Net
as of Jun 29, 2018

% of 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.

Allocations are subject to change.
Tactical asset allocation in action
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Portfolio Managers

Portfolio Managers

Michael Fredericks
Head of Income Investing for BlackRock Multi-Asset Strategies Team

   

Justin Christofel, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

   

Alex Shingler, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

     

Portfolio Manager

Team's Commentary

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Literature

Literature

 

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