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Overview
An alternative to typical bond funds
The BlackRock Global Long/Short Credit Fund casts a wide net among global credit opportunities to enhance diversification and help protect against interest rate moves.
TRUE DIVERSIFICATION TO TRADITIONAL FIXED INCOME
Investing long and short in global markets offers a differentiated way to seek returns
SEEKS TO MINIMIZE INTEREST RATE RISK
Aims to avoid any impact from rates by managing duration and focusing solely on credit
TOTAL RETURN DRIVEN BY CREDIT, NOT RATES
Delivered attractive returns, with far less volatility than core fixed income since inception
Powerful diversification tools
Learn more about alternative investments.
Dive deeper
Performance
Performance
Growth of Hypothetical $10,000
Performance chart data not available for display.
Distributions
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Returns
Performance data is not currently available
Performance data is not currently available
Performance data is not currently available
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 September 17, 2018 are the returns of a predecessor fund that reorganized into the Fund on September 17, 2018. The predecessor fund had the same investment objectives, strategies and policies, portfolio management team and contractual arrangements, including the same contractual fees and expenses, as the Fund as of the date of the reorganization. As a result, the performance of the Fund would have been substantially similar to that of the predecessor fund.
The Fund’s returns prior to September 17, 2018 are the returns of a predecessor fund that reorganized into the Fund on September 17, 2018. The predecessor fund had the same investment objectives, strategies and policies, portfolio management team and contractual arrangements, including the same contractual fees and expenses, as the Fund as of the date of the reorganization. As a result, the performance of the Fund would have been substantially similar to that of the predecessor fund.
On 3/1/2021 the Fund began to track the 4pm pricing variant of the ICE BofA 3 Month Treasury Bill Index. Historical index data prior to 3/1/2021 is for the 3pm pricing variant of the ICE BofA 3 Month Treasury Bill Index. Index data on and after 3/1/2021 is for the 4pm pricing variant of the ICE BofA 3 Month Treasury Bill Index.
Key Facts
Key Facts
Size of Class (Millions)
as of Jun 09, 2023
$5.2 M
Size of Fund (Millions)
as of Jun 09, 2023
$1,086.7 M
Share Class launch date
Sep 30, 2011
Asset Class
Alternative
Morningstar Category
Nontraditional Bond
Lipper Classification
Specialty Fixed-Inc Fds
Benchmark Index
ICE BofA 3 Month Treasury Bill Index (G0O1) (4PM)
Number of Holdings
as of May 31, 2023
753
CUSIP
09260C505
Max Offer Price
as of Jun 09, 2023
$8.68
Open to New Investors
Yes
Turnover Percent in the Annual Report
149%
Portfolio Characteristics
Portfolio Characteristics
R-Squared (3y)
as of Feb 28, 2021
30.09
Beta (3y)
as of Feb 28, 2021
-10.05
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2021
5.72%
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-5.83%
Fund Standard Deviation (3y)
as of Feb 28, 2021
5.39
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.
Where applicable, the Fund manager includes ESG considerations in the research and due diligence stage of the investment process. ESG information is sourced from both internal and external sources and included in the Aladdin risk system. This information broadly informs the investment decision: ESG criteria are considered in combination with other information. The Fund manager conducts regular portfolio risk reviews between the investment team and BlackRock’s 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.
Ratings
Ratings
Holdings
Holdings
as of May 31, 2023
| Name | Fund Weight (%) |
|---|---|
| SUN COUNTRY AIRLINES PASS THROUGH TRUSTS | 2.24 |
| BRITISH AIRWAYS PASS THROUGH TRUST_22-1 | 2.06 |
| FRONTIER COMMUNICATIONS PARENT INC | 1.85 |
| DEUTSCHE TELEKOM AG | 1.74 |
| ORACLE CORPORATION | 1.67 |
| Name | Fund Weight (%) |
|---|---|
| SEAGATE TECHNOLOGY HOLDINGS PLC | 1.42 |
| TATA MOTORS LTD | 1.25 |
| TEVA PHARMACEUTICAL INDUSTRIES LTD | 1.18 |
| SPIRIT AEROSYSTEMS HOLDINGS INC | 1.16 |
| AMERICAN AIRLINES PASS THROUGH TRUSTS | 1.13 |
as of May 31, 2023
| Name | Weight (%) |
|---|---|
| SUN COUNTRY AIRLINES PASS THROUGH TRUSTS | 2.24 |
| BRITISH AIRWAYS PASS THROUGH TRUST_22-1 | 2.06 |
| FRONTIER COMMUNICATIONS PARENT INC | 1.85 |
| DEUTSCHE TELEKOM AG | 1.74 |
| ORACLE CORPORATION | 1.67 |
| Name | Weight (%) |
|---|---|
| SEAGATE TECHNOLOGY HOLDINGS PLC | 1.42 |
| TATA MOTORS LTD | 1.25 |
| TEVA PHARMACEUTICAL INDUSTRIES LTD | 1.18 |
| SPIRIT AEROSYSTEMS HOLDINGS INC | 1.16 |
| AMERICAN AIRLINES PASS THROUGH TRUSTS | 1.13 |
as of May 31, 2023
| Name | Fund Weight (%) |
|---|---|
| ITRAXX.XO.39.V1 | -3.35 |
| CATERPILLAR INC | -2.51 |
| ITRAXX.FINSUB.39.V1 | -1.96 |
| SOUTHWEST AIRLINES CO | -1.84 |
| CDX.NA.HY.40.V1 | -1.55 |
| Name | Fund Weight (%) |
|---|---|
| SIMON PROPERTY GROUP INC | -1.42 |
| STMICROELECTRONICS NV | -1.28 |
| TESCO PLC | -0.82 |
| BAYERISCHE MOTOREN WERKE AG | -0.78 |
| BASF SE | -0.78 |
Exposure Breakdowns
Exposure Breakdowns
These sectors may contain hedge positions intended to bring the portfolio to a neutral duration and/or currency positioning and are not deemed active credit positions.
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
Stephen Gough
David Taerstein
Managing Director
Carly Wilson, Managing Director, is a member of BlackRock's Global Credit Platform. She is a portfolio manager for the platform's bank loan strategies and global long/short credit strategies.
Portfolio Manager
Literature
Literature
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