Multi Asset

BIICX

Multi-Asset Income Fund

  • NAV as of Sep 28, 2023 $9.40
    52 WK: 9.15 - 10.07
  • 1 Day NAV Change as of Sep 28, 2023 0.01 (0.11%)
  • NAV Total Return as of Sep 29, 2023 YTD: 2.78%

Overview

About this Fund

1. Flexible, core income solution
2. Focused on managing volatility
3. Seeks attractive income and total return

Investment Approach

Seeks to achieve attractive income with less risk by tactically managing a portfolio of equities, fixed income and non-traditional sources of income.

For more information read our monthly commentary
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Performance

Performance

Growth of Hypothetical $10,000

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Cum. Fund Perf. Since Inception: 104.06

Distributions

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Ex-Date Payable Date Record Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

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Year Total Distribution Income ST Cap Gains LT Cap Gains

Past distributions are not indicative of future distributions.
Click here, for the most recent distributions.



  1y 3y 5y 10y
Total Return (%) 6.37 3.04 3.30 4.04
Benchmark (%) 8.63 4.09 5.21 5.70
Morningstar Category Avg. (%) 5.41 3.18 3.59 4.33
Morningstar Ranking 178/461 230/438 246/405 187/293
Morningstar Quartile 1 2 3 3
Lipper Category Avg. (%) 6.38 6.07 4.09 5.01
Lipper Ranking 241/468 348/413 233/383 171/241
Lipper Quartile 3 4 3 3
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 4.68 1.68 1.41 6.37 9.39 17.60 48.66
Benchmark (%) 8.47 2.85 2.97 8.63 12.76 28.92 74.02
Morningstar Category Avg. (%) 5.32 2.33 1.75 5.41 9.86 19.27 52.73
Lipper Category Avg. (%) 6.01 3.53 2.60 6.38 19.76 22.87 65.42
  2018 2019 2020 2021 2022
Total Return (%) -3.59 13.86 6.58 7.23 -11.57
Benchmark (%) -4.19 18.11 12.49 9.69 -15.33
Morningstar Category Avg. (%) -5.04 14.81 8.86 8.24 -13.31

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, 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.

The Fund’s returns prior to November 28, 2011 are the returns of the Fund when it followed different investment strategies under the name “BlackRock Income Portfolio.” 

Time to rethink your income strategy

The scarcity of decent yields has driven determined income-seekers into fewer, more highly correlated asset classes.
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Income strategy

Key Facts

Key Facts

Size of Class (Millions) as of Sep 28, 2023 $6,332.7 M
Size of Fund (Millions) as of Sep 29, 2023 $11,416.7 M
Share Class launch date Apr 07, 2008
Asset Class MultiAsset
Morningstar Category Moderately Conservative Allocation
Lipper Classification Flexible Portfolio Funds
Benchmark Index 50% MSCI World Index/50% Bloomberg U.S. Aggregate Bond Index (USD)
CUSIP 09256H336
Distribution Frequency Monthly
Number of Holdings as of Aug 31, 2023 4,283
Max Offer Price as of Sep 29, 2023 $9.40
Open to New Investors Yes
Turnover Percent in the Annual Report 57.00%

Portfolio Characteristics

Portfolio Characteristics

Fund Sharpe Ratio (3y) as of Aug 31, 2023 0.07
30 Day SEC Yield as of Aug 31, 2023 6.07%
Unsubsidized 30-Day SEC Yield as of Aug 31, 2023 5.94%
Effective Duration as of Aug 31, 2023 3.40 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2023 7.98%
Worst 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2022 -9.28%
Fund Standard Deviation (3y) as of Aug 31, 2023 8.64

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.

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 includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, societal or governance topics, and from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. Where appropriate, these reviews include discussion of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.67%
Net Expense Ratio 0.57%

Net Expense Ratio excluding Investment Related Expenses is 0.55%

  • Acquired Fund Fees and Expenses 0.02%
  • Interest expense 0.00%

Ratings

Ratings

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 Aug 31, 2023 out of 411, 4,459, 415, 217 and 415 Funds, respectively in Lipper's Flexible Portfolio Funds classification.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective May 08, 2023)

Holdings

Holdings

as of Aug 31, 2023
Name Weight (%)
TAIWAN SEMICONDUCTOR MANUFACTURING 0.50
MICROSOFT CORP 0.36
SANOFI SA 0.33
UNITEDHEALTH GROUP INC - ELN 0.32
SHELL PLC 0.32
Name Weight (%)
APPLE INC - ELN 0.29
ASTRAZENECA PLC 0.29
NESTLE SA 0.28
AMAZON COM INC - ELN 0.26
ALPHABET INC CLASS A - ELN 0.26
as of Aug 31, 2023
Name Weight (%)
ISHARES MBS ETF 3.05
ISHARES IBOXX $ INV GRADE CORPORAT 0.70
HOUSTON CENTER (BSREP II HOUSTON) CML Prvt 0.29
PFP_22-9 A 144A 0.27
PARK AVENUE TOWER PrvtCML 0.26
Name Weight (%)
ENERGY TRANSFER LP 7.125 12/31/2079 0.22
BX_22-GPA A 0.22
STATE STREET CORP 6.552 06/15/2037 0.21
NEXTERA ENERGY CAPITAL HOLDINGS IN 3.8 03/15/2082 0.20
PRK_17-280P E 144A 0.17
Detailed Holdings and Analytics
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 Aug 31, 2023

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Aug 31, 2023

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2023

% 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

See how Multi-Asset Income Fund manages income for a better outcome.
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Tactical asset allocation in action

Portfolio Managers

Portfolio Managers

Justin Christofel, CFA
Justin Christofel, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

   

Read More

Justin Christofel, CFA, CAIA, Managing Director, is co-head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions group. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund, Dynamic High Income Fund, Managed Income Fund, and Multi-Asset Income model portfolios.

 

Justin’s service with the firm dates back to 2007, where prior to the launch of the Income strategies, he managed customized asset allocation portfolios for institutional investors.

 

Justin earned his BA, with honors, in economics and mathematics from Yale University.

 

Justin’s interests include exploring the intersection of macroeconomic drivers and asset class returns and constructing portfolios that offer clients resilience in a variety of market regimes. Outside of work, he enjoys nearly any activity that allows him to be active, particularly Crossfit.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Alex Shingler, CFA
Alex Shingler, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

     

Read More

Alex Shingler, CFA, Managing Director, is co-head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions group. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund, Dynamic High Income Fund, Managed Income Fund, and Multi-Asset Income model portfolios.

 

Alex’s service with the firm dates back to 2009, where he joined as a portfolio manager and research analyst within BlackRock’s European and US credit businesses. Alex has spent his career investing across equity and fixed income markets and before joining BlackRock in London, Alex focused on special situation equity investments.

 

Alex earned his AB, summa cum laude, in philosophy from Princeton University.

 

Alex grew up in Montreal, Canada, and resides in the New York City area with his wife and daughter.

Portfolio Manager

Team's Commentary

Get timely market outlooks, thought leadership and portfolio positioning insights from the investment team.

Read the Team's Commentary

Literature

Literature

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