Fixed Income

DSU

Debt Strategies Fund

Overview

Loading

Performance

Performance

Distributions

View full chart
  1y 3y 5y 10y
11.63 6.18 6.16 5.85
Market Price Total Return (%) 23.37 7.33 8.97 6.84
  YTD 1m 3m 1y 3y 5y 10y
4.16 0.27 - 11.63 19.69 34.81 76.48
Market Price Total Return (%) 6.10 -0.19 - 23.37 23.65 53.63 93.76
  2019 2020 2021 2022 2023
NAV Total Return (%) 15.97 2.57 6.67 -2.97 15.74
Market Price Total Return (%) 23.72 1.50 19.33 -15.51 30.14

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, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

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 may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Key Facts

Key Facts

Net Assets
as of Oct 11, 2024
$535,465,515
Share Class launch date
Mar 27, 1998
Asset Class
Fixed Income
Distribution Frequency
Monthly
Lipper Classification
Loan Participation Funds
CUSIP
09255R202
Managed Assets
as of Oct 11, 2024
$644,465,515.33
Exchange
New York Stock Exchange Inc.
Shares Outstanding
as of Oct 11, 2024
49,676,698
Morningstar Category
Bank Loan
Premium Discount
as of Oct 11, 2024
2.97%
Number of Holdings
as of Sep 30, 2024
1,264

Portfolio Characteristics

Portfolio Characteristics

Distribution Rate
as of Oct 11, 2024
10.67%
Average Coupon
as of Sep 30, 2024
8.36%
Effective Duration
as of Sep 30, 2024
0.31 yrs
WAL to Maturity
as of Sep 30, 2024
6.10 yrs
% Leveraged
as of Sep 30, 2024
17.73%
Yield to Maturity
as of Sep 30, 2024
10.68%
Yield to Worst
as of Sep 30, 2024
10.59%
WAL to Worst
as of Sep 30, 2024
5.19 yrs
Leverage
as of Sep 30, 2024
$ 114,000,000.00

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of Sep 30, 2024
0.02%
MSCI - Nuclear Weapons
as of Sep 30, 2024
0.02%
MSCI - Civilian Firearms
as of Sep 30, 2024
0.00%
MSCI - Tobacco
as of Sep 30, 2024
0.00%
MSCI - UN Global Compact Violators
as of Sep 30, 2024
0.00%
MSCI - Thermal Coal
as of Sep 30, 2024
0.00%
MSCI - Oil Sands
as of Sep 30, 2024
0.00%

Business Involvement Coverage
as of Sep 30, 2024
17.94%
Percentage of Fund not covered
as of Sep 30, 2024
82.06%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.01%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

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 the investment research, portfolio construction, and investment monitoring phases of the investment process. The Fund manager maintains internal ESG scorecards for certain issuers under consideration for investment and certain existing issuers of publicly traded securities. These scorecards analyze and track internal and external research views across a range of environmental, social, and governance factors sourced from primary and third-party ESG information and research. Portfolio management teams may consider the sector and issuer ESG views and scores during portfolio construction. The Fund manager also considers ESG criteria during post-investment monitoring and 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, where appropriate.

Fees

Fees

on net assets
Gross Expense Ratio 2.47%
Management Fee 0.70%
Interest Expense 1.67%
Other Expenses 0.10%
Acquired Fund Fees and Expenses 0.00%
on managed assets
Acquired Fund Fees and Expenses 0.00%
Interest Expenses 1.31%
Management Fee 0.55%
Other Expenses 0.07%
Gross Expense 1.93%

Fees data reflected above is current as of the latest annual shareholder report.

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for Debt Strategies Fund, as of Jan 31, 2024 rated against 22 Bank Loan Funds based on risk adjusted total return.

Holdings

Holdings

as of Sep 30, 2024
Name Weight (%)
POWERSHARES SENIOR LOAN PORTFOLIO 1.90
CLOUD SOFTWARE GROUP INC 1.27
ALLIANT HOLDINGS INTERMDIATE LLC 1.04
HUB INTERNATIONAL LTD 0.99
MEDLINE BORROWER LP 0.97
Name Weight (%)
TRANSDIGM INC 0.95
DEERFIELD DAKOTA HOLDING LLC 0.92
DUN & BRADSTREET CORPORATION (THE) 0.87
BELRON FINANCE US LLC 0.83
DYNASTY ACQUISITION CO INC 0.80
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.

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2024

% of Market Value

Type Fund
as of Sep 30, 2024

% of Market Value

Type Fund
as of Sep 30, 2024

% of Market Value

Type Fund
as of Sep 30, 2024

% of Market Value

Type Fund
as of Sep 30, 2024

% of Market Value

Type Fund
as of Sep 30, 2024

% of Market Value

Type Fund
as of Sep 30, 2024

% of Market Value

Type Fund
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.

Portfolio Managers

Portfolio Managers

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

  

David Delbos
Managing Director

David Delbos, Managing Director, is the Co-Head of U.S. High Yield within BlackRock's Global Credit team.

Carly Wilson
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

 

There are many ways to access BlackRock Funds, learn how you can add them to your portfolio