Fixed Income

BKN

Investment Quality Municipal Trust

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
8.72 -2.57 2.28 5.10
Market Price Total Return (%) 6.28 -7.16 2.68 3.70
  YTD 1m 3m 1y 3y 5y 10y
8.72 4.15 - 8.72 -7.52 11.92 64.45
Market Price Total Return (%) 6.28 6.30 - 6.28 -19.99 14.12 43.74
  2019 2020 2021 2022 2023
NAV Total Return (%) 13.01 7.10 3.34 -17.70 8.72
Market Price Total Return (%) 23.43 15.56 5.94 -28.94 6.28

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, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

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 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 found in the Performance section.

Key Facts

Key Facts

Net Assets as of Mar 27, 2024 $225,097,126
Managed Assets as of Mar 27, 2024 $327,789,953.49
Share Class launch date Feb 28, 1993
Exchange New York Stock Exchange Inc.
Asset Class Fixed Income
Shares Outstanding as of Mar 27, 2024 17,205,846
Distribution Frequency Monthly
Morningstar Category Muni National Long
Lipper Classification Gen & Ins Leveraged
Premium Discount as of Mar 27, 2024 -4.36%
CUSIP 09247D105
Number of Holdings as of Feb 29, 2024 271

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate as of Mar 27, 2024 5.47%
Yield to Maturity as of Feb 29, 2024 6.48%
Average Coupon as of Feb 29, 2024 3.55%
Yield to Worst as of Feb 29, 2024 6.04%
Effective Duration as of Feb 29, 2024 12.18 yrs
WAL to Worst as of Feb 29, 2024 13.54 yrs
WAL to Maturity as of Feb 29, 2024 23.35 yrs
Leverage as of Feb 29, 2024 $ 105,121,024.00
% Leveraged as of Feb 29, 2024 31.98%
% AMT Bonds as of Feb 29, 2024 13.12%
% Insured as of Feb 29, 2024 6.19%

Fees

Fees

on net assets
Gross Expense Ratio 3.40%
Management Fee 0.57%
Interest Expense 2.47%
Other Expenses 0.36%
Acquired Fund Fees and Expenses 0.00%
on managed assets
Acquired Fund Fees and Expenses 0.00%
Interest Expenses 1.51%
Management Fee 0.35%
Other Expenses 0.22%
Gross Expense 2.08%

Fees data reflected above is current as of the latest annual shareholder report.

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Investment Quality Municipal Trust, -, as of Feb 29, 2024 rated against 41 Muni National Long Funds based on risk adjusted total return.

Holdings

Holdings

as of Feb 29, 2024
Name Weight (%)
MIAMI-DADE CNTY FLA SPL OBLIG 0 10/01/2033 3.40
MIDLAND CNTY TEX FRESH WTR SUP 0 09/15/2038 2.69
TOB 5.25 09182TCG0 BBEUTL 144A 2.23
NORWALK LA MIRADA CALIF UNI SCH DI 0 08/01/2038 2.12
PUERTO RICO SALES TAX FING CO (RST 5 07/01/2058 1.66
Name Weight (%)
SALT VERDE FINL CORP - CITI 5 12/01/2037 1.57
HUMBLE TEX INDPT SCH DIST 5 02/15/2047 1.51
PALOMAR CALIF CMNTY COLLEGE DIST 0 08/01/2039 1.48
TOB 5.25 167727C53 CHIUTL 144A 1.45
SAN DIEGO CALIF CMNTY COLLEGE DIST 6 08/01/2033 1.45
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

% Notional Value

Type Fund
as of Feb 29, 2024

% Notional Value

Type Fund
as of Feb 29, 2024

% Notional Value

Type Fund
as of Feb 29, 2024

% Notional Value

Type Fund
as of Feb 29, 2024

% Notional Value

Type Fund
as of Feb 29, 2024

% Notional Value

Type Fund
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 Feb 29, 2024
Type Fund
Notional value represents a fund’s use of derivatives, including but not limited to futures, options, and swaps. This value captures the fund exposures as if the derivative was replaced with the underlying asset and the corresponding financing or lending, such that all exposures sum to the net asset value. For non-derivatives, the market value and the notional value are identical.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Michael Kalinoski, CFA 
Director, Portfolio Manager, Municipal Mutual Funds

   

Walter O'Connor, CFA
Managing Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

Kevin Maloney, CFA
Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

Kristi Manidis
Director, Portfolio Manager, Municipal Mutual Funds

  

Christian Romaglino, CFA
Director, Portfolio Manager, Municipal Mutual Funds

   

Phillip Soccio, CFA
Director, Portfolio Manager, Municipal Mutual Funds

  

Portfolio Manager

Literature

Literature

 

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