Fixed Income


Allocation Target Shares: Series M Fund





  • 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.
4.04 4.01 3.71 5.01 4.75
Benchmark (%) Index: BBG Barc MBS 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. 3.61 3.61 2.65 4.65 4.50
Morningstar Category Avg. (%) Intermediate-Term Bond 5.27 3.72 3.44 4.53 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 914/1069 328/956 316/844 190/602 -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 4 2 2 2 -
Lipper Category Avg. (%) Multi-Sector Income Fds 6.77 3.60 4.97 5.04 -
Lipper Ranking Rankings are based on total return excluding sales charges. 249/306 92/228 137/169 62/95 -
Lipper Quartile Rankings are based on total return excluding sales charges. 4 2 4 3 -
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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Key Facts

Key Facts

Size of Class (Millions) as of Apr 23, 2019 $796.4 M
Size of Fund (Millions) -
Share Class launch date Sep 30, 2004
Asset Class Fixed Income
Morningstar Category Intermediate-Term Bond
Lipper Classification Multi-Sector Income Fds
Benchmark Index BBG Barc MBS Index
CUSIP 092480201
Number of Holdings as of Aug 29, 2014 173
Max Offer Price as of Apr 23, 2019 $9.53
Open to New Investors No
Turnover Percent as of Mar 31, 2019 1,515%



Morningstar Rating

Overall Morningstar Rating for Allocation Target Shares: Series M Fund, Class, as of Mar 31, 2019 rated against 901 Intermediate-Term 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 Mar 31, 2019 out of 282, 5,794, 282, 181 and 282 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

Portfolio Managers

Portfolio Managers

Akiva Dickstein
Managing Director, Head of Customized Multi-Sector Portfolios


Matthew Kraeger
Lead Portfolio Manager, Mortgage Portfolios


Michael Heilbronn

Michael Heilbronn, Director, is a member of the Core PM SMA Team in Princeton for BlackRock's Managed Account business within Multi-Asset Strategies (MAS). In this capacity, he is responsible for managing mid-sized institutional taxable bond portfolios. Additionally, Mr. Heilbronn is part of a liaison team that coordinates the SMA fixed income portfolio strategy and credit research with the rest of the firm. He works closely with each group to facilitate idea sharing and trade ideas across portfolios.


Michael service with the firm dates back to 1998, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a product specialist for the firm's entire range of fixed income portfolios, and also served as an associate asset management advisor. Michael joined MLIM in 2000, after working with the mutual funds marketing team at the Merrill Lynch Private Client Group for two years.


Michael earned a BS degree from the Pennsylvania State University in 1998.

Portfolio Manager



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