Fixed Income

BMSIX

Credit Strategies Income Fund

Overview

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Performance

Performance

  • 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.
-1.08 4.34 3.16 - 4.66
Benchmark (%) Index: 25BBGHY100HDG 25SPLSTALL 25BBUSCMBSIG 25JPMCEMBIBD.<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. -0.76 4.85 3.59 - 5.43
Morningstar Category Avg. (%) Multisector Bond 0.58 4.81 2.88 6.47 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 104/325 101/289 44/214 - -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 2 2 1 - -
Lipper Category Avg. (%) Loan Participation Funds -0.30 4.03 2.26 7.19 -
Lipper Ranking Rankings are based on total return excluding sales charges. 134/320 90/278 57/208 - -
Lipper Quartile Rankings are based on total return excluding sales charges. 2 2 2 - -
  YTD 1m 3m 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.
-1.08 -1.17 -2.56 -1.08 13.60 16.84 - 49.61
Benchmark (%) Index: 25BBGHY100HDG 25SPLSTALL 25BBUSCMBSIG 25JPMCEMBIBD.<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. -0.76 -0.26 -1.22 -0.76 15.26 19.31 - 59.65
Morningstar Category Avg. (%) Multisector Bond 2.38 2.38 1.78 0.58 15.15 15.24 87.16 -
Lipper Category Avg. (%) Loan Participation Funds -0.30 -2.38 -3.47 -0.30 12.61 11.85 101.25 -
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 predecessor fund's returns between July 2, 2012 and July 1, 2016 are the returns of the predecessor fund when it followed different investment strategies under the name “BlackRock Secured Credit Portfolio." The predecessor fund's returns prior to July 2, 2012 are the returns of the predecessor fund when it followed different investment strategies under the name "BlackRock Multi-Sector Bond Portfolio."

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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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of Mar 21, 2019 $631.1 M
Size of Fund (Millions) as of Mar 21, 2019 $787.0 M
Share Class launch date Feb 26, 2010
Asset Class Fixed Income
Morningstar Category Multisector Bond
Lipper Classification Multi-Sector Income Fds
Benchmark Index 25BBGHY100HDG 25SPLSTALL 25BBUSCMBSIG 25JPMCEMBIBD
CUSIP 09260B887
Number of Holdings as of Feb 28, 2019 1,789
Max Offer Price as of Mar 21, 2019 $10.07
Open to New Investors Yes
Turnover Percent as of Feb 28, 2019 100%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Feb 28, 2019 79.14
Beta (3y) as of Feb 28, 2019 0.89
Best 3-Month Return Over the Last 3 Years 3 months ending May 31, 2016 4.56%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2018 -2.56%
Fund Standard Deviation (3y) as of Feb 28, 2019 2.97

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.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for Credit Strategies Income Fund, Class Inst, as of Feb 28, 2019 rated against 290 Multisector 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 Jan 31, 2019 out of 278, 5,771, 278, 176 and 278 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

Holdings

Holdings

as of Jan 31, 2019
Name Weight (%)
UNITED STATES TREASURY 6.83
ISHARES JPMORGAN USD EMERGING MARKETS BOND FUND 0.95
VANECK VECTORS JP MORGAN EM LOCAL CURRENCY BD ETF 0.91
POWERLONG REAL ESTATE HOLDINGS LTD 0.59
POWERSHARES SENIOR LOAN PORTFOLIO 0.56
Name Weight (%)
CSC HOLDINGS LLC 0.54
YUZHOU PROPERTIES COMPANY LTD 0.54
AJAXM_18-G-A 0.54
JPMORGAN CHASE & CO 0.51
BAUSCH HEALTH COMPANIES INC 0.49

Exposure Breakdowns

Exposure Breakdowns

Type Fund
Type Fund
Type Fund
Type Fund
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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. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.
BlackRock Fixed Income Funds Delivered
21 of 25 U.S. bond funds, accounting for 99% of our assets, outperformed within their Morningstar peer groups. Based on Inst. shares.*
22 of 25 U.S. bond funds, accounting for 88% of our bond funds, are in the least expensive quartile. Based on Inst. shares.†
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Portfolio Managers

Portfolio Managers

James Keenan, CFA
Chief Investment Officer and Global Co-Head of Credit

     

Jose Aguilar
Portfolio manager on the Credit Enhanced Strategies Europe team

  

Jeff Cucunato
Head of Multi-Strategy Credit

     

Mitchell S. Garfin, CFA
Co-Head of U.S. High Yield in Global Credit team

  

Artur Piasecki
Senior member of the Asian Credit team

     

Portfolio Manager

Literature

Literature

 

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