Equity

BALPX

Event Driven Equity Fund

How To Buy
  • NAV as of Jun 02, 2023 $9.12
    52 WK: 9.05 - 9.53
  • 1 Day NAV Change as of Jun 02, 2023 0.03 (0.33%)
  • NAV Total Return as of Jun 02, 2023 YTD: -1.08%

Overview

Investment Approach

Invests primarily in equity and equity-related securities of companies that are undergoing transformative corporate events, including announced mergers and acquisitions, spin-offs and split-offs, financial or strategic restructurings, management changes and other catalysts. The fund will make long and short investments in developed market companies across market capitalizations and sectors, as well as investing opportunistically across the capital structure using fixed income instruments.
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Performance

Performance

Growth of Hypothetical $10,000

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Cum. Fund Perf. Since Inception: 101.84

Source: Lipper. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. The $10,000 Hypothetical Over Time chart reflects a hypothetical $10,000 investment in the investor class of shares noted and does not assume the max sales charge. Had sales charge been included, returns would have been lower. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Performance for other share classes will vary.

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 (%) 0.50 4.51 4.10 5.72
Return w/ Sales Charge (%) -4.77 2.65 2.98 5.15
Benchmark (%) 2.52 0.89 1.41 0.87
Morningstar Category Avg. (%) -0.85 6.25 3.87 3.05
Morningstar Ranking 20/45 23/42 14/41 4/24
Morningstar Quartile 2 2 2 1
Lipper Category Avg. (%) -6.78 18.94 10.27 11.52
Lipper Ranking 17/48 26/44 15/42 4/24
Lipper Quartile 2 3 2 1
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 0.76 -0.22 0.76 0.50 14.15 22.25 74.46
Return w/ Sales Charge (%) -4.53 -5.45 -4.53 -4.77 8.16 15.83 65.30
Benchmark (%) 1.07 0.43 1.07 2.52 2.71 7.25 9.07
Morningstar Category Avg. (%) 0.66 0.16 0.66 -0.85 19.96 20.88 35.05
Lipper Category Avg. (%) 0.70 2.43 0.70 -6.78 68.75 63.56 198.74
  2018 2019 2020 2021 2022
Total Return (%) 5.13 7.16 6.03 1.60 -0.25
Benchmark (%) 1.87 2.28 0.67 0.05 1.47
Morningstar Category Avg. (%) 1.61 7.68 6.69 4.14 -1.75

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 May 8, 2015 are the returns of the Fund when it followed different investment strategies under the name "BlackRock Large Cap Core Plus Fund," which focused on establishing long and short positions in a diversified portfolio of equity securities issued primarily by large cap companies located in the United States. 

 

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

Key Facts

Key Facts

Size of Class (Millions) as of Jun 02, 2023 $156.9 M
Size of Fund (Millions) as of Jun 02, 2023 $7,018.2 M
Share Class launch date Dec 19, 2007
Asset Class Alternative
Morningstar Category Event Driven
Lipper Classification Alt Event Driven Funds
Benchmark Index ICE BofA 3 Month Treasury Bill Index (G0O1) (4PM)
CUSIP 09250J759
Distribution Frequency Annual
Max Offer Price as of Jun 02, 2023 $9.63
Open to New Investors Yes
Turnover Percent in the Annual Report 37%

Portfolio Characteristics

Portfolio Characteristics

Best 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2020 3.80%
Worst 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2022 -2.11%
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 material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager evaluates the fundamental and strategic aspects of each security in which the Fund may invest. This may include a detailed, comprehensive review and analysis of all aspects of the company, including ESG policies, when evaluating opportunities. The Fund manager's deep due diligence informs a holistic perspective on a given issuer and may impact the investment decision. Additionally, on a regular basis the Fund manager conducts portfolio risk reviews with the Risk and Quantitative Analysis group. 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 1.55%
Net Expense Ratio 1.52%

Net Expense Ratio excluding Investment Related Expenses is 1.43%

  • Acquired Fund Fees and Expenses 0.09%
  • Interest expense 0.00%

Exposure Breakdowns

Exposure Breakdowns

as of Mar 31, 2023

% of Market Value

Type Long Short Net
as of Mar 31, 2023

% of Market Value

Type Long Short Net
as of Mar 31, 2023

% of Market Value

Type Long Short Net
as of Mar 31, 2023

% of Market Value

Type Long Short Net
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

Mark McKenna
Mark McKenna
Managing Director

Mark R. McKenna, Managing Director, is Founder and Global Head of Event Driven. Mr. McKenna is responsible for managing BlackRock's event-driven investing efforts.

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Mark R. McKenna, Managing Director, is Founder and Global Head of Event Driven. Mr. McKenna is responsible for managing BlackRock's event-driven investing efforts.

 

Prior to joining BlackRock in 2014, Mr. McKenna was a managing director at Harvard Management Company (HMC) and co-founder of HMC's event driven fund. From 2004 to 2009, Mr. McKenna was portfolio manager of the event driven strategy at Caxton Associates, LLC. Previous to Caxton, Mr. McKenna spent five years at Citigroup's Global and Corporate Investment Bank as a vice president in mergers and acquisitions. Before graduate school, Mr. McKenna served as a lieutenant in the United States Navy's Nuclear Submarine Force, where he conducted strategic deterrent patrols onboard the USS Ohio and was a certified nuclear engineer by the Department of Naval Reactors.

 

Mr. McKenna earned a B.Engr. in electrical engineering from New York Maritime College and an MBA, with distinction, from NYU.

Portfolio Manager

Literature

Literature

 

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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USR-9694