Fixed Income

BRASX

Allocation Target Shares: Series S Fund

  • NAV as of Oct 02, 2023 $8.92
    52 WK: 8.84 - 9.08
  • 1 Day NAV Change as of Oct 02, 2023 -0.02 (-0.22%)
  • NAV Total Return as of Oct 02, 2023 YTD: 2.56%
  • Morningstar Rating

Overview

Investment Approach

This fund is only available through BlackRock Separately Managed Accounts.
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Performance

Performance

Growth of Hypothetical $10,000

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Cum. Fund Perf. Since Inception: 56.05

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 (%) 2.75 2.23 2.80 3.88
Benchmark (%) 0.88 0.85 0.69 2.25
Morningstar Ranking 193/194 171/171 139/146 87/93
Morningstar Quartile 4 4 4 4
Lipper Category Avg. (%) 2.81 1.93 2.21 3.46
Lipper Ranking 95/190 48/155 33/111 29/85
Lipper Quartile 2 2 2 2
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 2.90 0.38 0.75 2.75 6.83 14.78 46.37
Benchmark (%) 1.33 0.12 -0.11 0.88 2.56 3.52 24.95
Lipper Category Avg. (%) 3.44 0.20 0.46 2.81 5.92 11.67 41.03
  2011 2012 2013 2014 2015
Total Return (%) 2.96 5.60 1.53 1.87 1.16
Benchmark (%) 1.55 0.43 0.36 0.62 0.54

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.

 

On 3/1/2021 the Fund began to track the 4pm pricing variant of the ICE BofA 1-3 Year Treasury Index. Historical index data prior to 3/1/2021 is for the 3pm pricing variant of the ICE BofA 1-3 Year Treasury Index. Index data on and after 3/1/2021 is for the 4pm pricing variant of the ICE BofA 1-3 Year Treasury Index.

Key Facts

Key Facts

Net Assets as of Oct 02, 2023 $392,340,982
Size of Fund (Millions) $392.3 M
Base Currency U.S. Dollar
Share Class launch date Sep 30, 2004
Asset Class Fixed Income
Domicile United States

Portfolio Characteristics

Portfolio Characteristics

Alpha (3y) as of Feb 28, 2021 0.58
R-Squared (3y) as of Feb 28, 2021 10.54
Beta (3y) as of Feb 28, 2021 -1.04
30 Day SEC Yield as of Jul 31, 2023 4.50%
Unsubsidized 30-Day SEC Yield as of Jul 31, 2023 4.39%
Yield to Maturity as of Aug 31, 2023 6.13%
Yield to Worst as of Aug 31, 2023 6.11%
Effective Duration as of Aug 31, 2023 1.97 yrs
Nominal WAL as of Aug 31, 2023 3.04 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2023 3.00%
Worst 3-Month Return Over the Last 3 Years 3 months ending Apr 30, 2022 -2.99%
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 phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, 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 0.10%
Net Expense Ratio 0.00%

Net Expense Ratio excluding Investment Related Expenses is 0.00%

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

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for Allocation Target Shares: Series S Fund, Class, as of Mar 31, 2023 rated against 535 Short-Term Bond Funds based on risk adjusted total return.

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 159, 6,245, 160, 101 and 160 Funds, respectively in Lipper's Sht-Int Inv Grd Dbt Fds classification.

Holdings

Holdings

Name Weight (%) Shares Market Value Coupon (%) Maturity
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.

Portfolio Managers

Portfolio Managers

Michael Heilbronn
Michael Heilbronn
Director

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.

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Michael Heilbronn, Director,  is a member of the Core PM SMA Team in Princeton for BlackRock's Managed Account business within the Portfolio Management Group (PMG). In this capacity, he is responsible for managing mid-sized institutional taxable bond portfolios. Additionally, Michael 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’s 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.

Scott MacLellan, CFA, CMT
Scott MacLellan, CFA, CMT
Managing Director, Portfolio Manager

  

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Scott MacLellan, CFA, CMT, Managing Director, is a portfolio manager in BlackRock's Global Fixed Income Group. He is the co-lead portfolio manager of BlackRock's Low Duration Bond Fund, BGF USD Short Duration Bond Fund and the iShares Short Maturity Bond ETF (NEAR). As a lead portfolio manager on the USD short duration fixed income platform, he also focuses on managing a large number of multi sector fixed income separate accounts. Mr. MacLellan is named as lead portfolio manager for the BlackRock Target Allocation Shares Series P Fund and the lead portfolio manager for four multi-sector BlackRock closed end funds, the BlackRock Core Bond Trust, BlackRock Multi-Sector Income Trust, BlackRock Limited Duration Income Trust and Enhanced Government Fund. He also served on BlackRock's Obsidian hedge fund team.


Mr. MacLellan serves in number of capacities with regard to sustainable investing in the Fundamental Fixed Income Team, including as a member of the Global Fixed Income ESG Leadership Committee and a member of the ESG Advisory Group to the Fundamental Fixed Income Executive Committee.

 

Prior to assuming his current responsibilities in 2012, Mr. MacLellan was a an account manager in the Global Client Group, covering clients in Asia and the Middle East. Previously, Mr. MacLellan spent four years with Nomura BlackRock Asset Management (NBAM) in Tokyo. Prior to joining NBAM in 2001, Mr. MacLellan spent a year at the Industrial Bank of Japan Leasing in Tokyo, investing in emerging markets.

 

Mr. MacLellan earned a BA degree, with combined honors, in economics and international development studies from King's College, Dalhousie University in Canada. Mr. MacLellan attended the Graduate School of International Relations and Pacific Studies at the University of California, San Diego and Tohoku University in Japan. He has received both the Chartered Financial Analyst and Chartered Market Technician designations. He is proficient in Japanese.

Portfolio Manager

Literature

Literature

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