Fixed Income

BSIIX

Strategic Income Opportunities 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.
-0.28 2.39 3.02 - 4.26
Benchmark (%) Index: Barclays U.S. Universal Index.<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. 5.82 4.20 4.01 - -
Morningstar Category Avg. (%) Nontraditional Bond 0.19 1.19 1.80 3.37 -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 3 1 1 - -
Lipper Category Avg. (%) Alt Credit Focus Funds -1.20 0.90 1.91 3.70 -
Lipper Ranking Rankings are based on total return excluding sales charges. 148/281 21/133 19/87 - -
Lipper Quartile Rankings are based on total return excluding sales charges. 3 1 1 - -


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 28-Jul-2016 $18,997.2 M
Size of Fund (Millions) as of 28-Jul-2016 $28,369.2 M
Share Class launch date 05-Feb-2008
Asset Class Fixed Income
Morningstar Category Nontraditional Bond
Lipper Classification Alt Credit Focus Funds
Benchmark Index Barclays U.S. Universal Index
CUSIP 09256H286
Net, Excluding Investment Related Expenses 0.61%
Expense Ratio 0.80%
Contractual End Date 30-Apr-2017
Number of Holdings as of 30-Jun-2016 2,497
Max Offer Price as of 28-Jul-2016 $9.78
Open to New Investors Yes
Turnover Percent as of 30-Jun-2016 1,856%

Portfolio Characteristics

Portfolio Characteristics

Best 3-Month Return Over the Last 3 Years 3 months ending 30-Nov-2013 2.26%
Worst 3-Month Return Over the Last 3 Years 3 months ending 31-Aug-2013 -1.95%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for Strategic Income Opportunities Fund, Class Inst, as of 30-Jun-2016 rated against 240 Nontraditional Bond Funds.

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 30-Apr-2016 out of 130, 5,501, 130, 55 and 130 Funds, respectively in Lipper's Alt Credit Focus Funds classification.

Morningstar Analyst Rating

Morningstar Analyst Rating - Bronze
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective 08-Apr-2016) ‡

Holdings

Holdings

as of 30-Jun-2016
Name Weight (%)
UNITED STATES TREASURY 14.17
FEDERAL NATIONAL MORTGAGE ASSOCIATION 8.52
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 4.51
ITALY (REPUBLIC OF) 3.53
FEDERAL HOME LOAN MORTGAGE CORPORATION - GOLD 2.81
Name Weight (%)
JAPAN (GOVERNMENT OF) 1.92
SPDR GOLD TRUST 1.44
ARGENTINA REPUBLIC OF GOVERNMENT 0.99
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 0.97
INDONESIA (REPUBLIC OF) 0.94

Exposure Breakdowns

Exposure Breakdowns

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-2016

% Market Value

Allocations subject to change.
as of 30-Jun-2016

% Market Value

as of 30-Jun-2016

% Market Value

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

Rick Rieder
Managing Director, Chief Investment Officer and Co-Head of Global Fixed Income
Bob Miller
Managing Director, Portfolio Manager
Portfolio Manager

Literature

Literature

 

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