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Multi Asset

PBAIX

Tactical Opportunities Fund

Overview

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Performance

Performance

  • Returns

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. Effective as of May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Investor A Shares. The performance of this share class would be substantially similar to Investor A Shares because this share class and Investor A Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Investor A Shares have different expenses. For performance periods prior to May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Investor A Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

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 Oct 22, 2019 $294.2 M
Size of Fund (Millions) as of Oct 22, 2019 $905.0 M
Share Class launch date Jun 01, 1993
Asset Class MultiAsset
Morningstar Category Multialternative
Lipper Classification Alt Global Macro Funds
Benchmark Index ICE BofAML 3 Month Treasury Bill Index (G0O1)
CUSIP 091927848
Number of Holdings as of Sep 30, 2019 685
Max Offer Price as of Oct 22, 2019 $13.88
Open to New Investors Yes
Turnover Percent as of Sep 30, 2019 265%

Portfolio Characteristics

Portfolio Characteristics

R-Squared as of Sep 30, 2019 0.13
Average Market Cap (Millions) The average size of the securities the fund invests in. as of Sep 30, 2019 $ 170,014.5 M
Beta (3y) as of Sep 30, 2019 0.00
Best 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2017 4.70%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2018 -2.29%
Fund Standard Deviation (3y) as of Sep 30, 2019 0.00
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 Tactical Opportunities Fund, Class Inst, as of Sep 30, 2019 rated against 248 Multialternative Funds.

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2019

% of Market Value

Type Long Short Net
Sorry, sectors are not available at this 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.

Portfolio Managers

Portfolio Managers

Philip Green
Managing Director, Head of Global Tactical Asset Allocation

  

Thomas Becker
Global Tactical Asset Allocation

    

Richard Murrall
Director, Global Tactical Asset Allocation

    

Michael Pensky
Portfolio Manager and Researcher, Global Tactical Asset Allocation Team

   

Portfolio Manager

Literature

Literature

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