Fixed Income

BIMBX

Systematic Multi-Strategy Fund

How To Buy
  • NAV as of Nov 30, 2020 $10.13
    52 WK: 9.20 - 10.47
  • 1 Day NAV Change as of Nov 30, 2020 0.03 (0.30%)
  • NAV Total Return as of Nov 30, 2020 YTD: 3.22%
  • Morningstar Rating

Overview

Investment Approach

Seeks total return through a diversified mix of global assets and strategies using a systematic, credit-oriented approach, which is expected to result in a portfolio with lower correlation to the equity and fixed-income markets.
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Performance

Performance

Growth of Hypothetical $10,000

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Cum. Fund Perf. Since Inception: 28.35

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 Incept.
Total Return (%) 3.91 5.70 6.18 - 4.91
Benchmark (%) 1.10 1.69 1.20 - 1.12
Morningstar Category Avg. (%) -1.20 0.70 1.66 2.20 -
Morningstar Ranking 60/268 13/239 9/180 - -
Morningstar Quartile 2 1 1 - -
Lipper Category Avg. (%) -0.54 0.45 1.36 2.31 -
Lipper Ranking 28/144 7/122 5/105 - -
Lipper Quartile 1 1 1 - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%) 4.34 -0.68 0.10 3.91 18.10 34.96 - 29.36
Benchmark (%) 0.64 0.01 0.04 1.10 5.16 6.14 - 6.16
Morningstar Category Avg. (%) -2.89 -0.74 -0.47 -1.20 2.12 8.56 24.29 -
Lipper Category Avg. (%) -1.89 -0.80 2.38 -0.54 1.92 7.96 25.77 -
  2015 2016 2017 2018 2019
Total Return (%) - 5.91 9.89 1.84 8.43
Benchmark (%) - 0.33 0.86 1.87 2.28
Morningstar Category Avg. (%) -2.58 1.38 5.14 -4.03 7.58
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.

Key Facts

Key Facts

Size of Class (Millions) as of Nov 30, 2020 $2,779.5 M
Size of Fund (Millions) as of Nov 30, 2020 $2,950.7 M
Share Class launch date May 19, 2015
Asset Class Alternative
Morningstar Category Multialternative
Lipper Classification Alt Multi-Strategy Funds
Benchmark Index ICE BofA 3 Month Treasury Bill Index (G0O1)
CUSIP 09260C307
Distribution Frequency None
Number of Holdings as of Oct 30, 2020 2,080
Max Offer Price as of Nov 30, 2020 $10.13
Open to New Investors Yes
Turnover Percent in the Annual Report 442%

Portfolio Characteristics

Portfolio Characteristics

30 Day SEC Yield as of Oct 31, 2020 1.07%
Yield to Maturity as of Oct 30, 2020 2.20%
Yield to Worst as of Oct 30, 2020 2.13%
Fund Standard Deviation (3y) as of Nov 30, 2020 4.49
Unsubsidized 30-Day SEC Yield as of Oct 31, 2020 1.04%
Effective Duration as of Oct 30, 2020 2.93 yrs
Nominal WAL as of Oct 30, 2020 3.85 yrs
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.31%
Net Expense Ratio 0.97%

Net Expense Ratio excluding Investment Related Expenses is 0.95%

  • Acquired Fund Fees and Expenses 0.02%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for Systematic Multi-Strategy Fund, Class Inst, as of Nov 30, 2020 rated against 251 Multialternative 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 Oct 31, 2020 out of 120, 4,467, 120, 67 and 120 Funds, respectively in Lipper's Alt Multi-Strategy Funds classification.

Portfolio Managers

Portfolio Managers

Tom Parker
Tom Parker
Chief Investment Officer, BlackRock Systematic Fixed Income

 

 

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Tom Parker, CFA, Managing Director, is Chief Investment Officer of Model-Based Fixed Income ("MBFI") at BlackRock. In this capacity Mr. Parker is responsible for all portfolio management and research ("alpha teams") as well as portfolio construction across the MBFI platform. Prior to taking on his current role, Mr. Parker was Deputy CIO. He is currently an active member of the MBFI Investment, Research Approval, Model Management, and Executive committees. 

Mr. Parker's service with the firm dates back to 2001, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was the global co-head of credit investments covering both investment grade and high yield markets and a member of BGI's Fixed Income Research Approval Committee. He led the development and implementation of BGI's quantitative approach to corporate credit investing. Mr. Parker managed both long-only and long/short credit strategies used across BGI's fixed income funds, including the 3D Capital Fund (a credit long/short strategy), the Capital Structure Fund and the Fixed Income Global Alpha Fund. Prior to BGI, he worked at JP Morgan and prior to that at CSFB. 

Mr. Parker earned a BS degree from the University of California at Berkeley in 1980 and an MBA degree in finance and international business from the University of Chicago in 1985.

Scott Radell
Scott Radell
Head of Core Portfolio Management, Systematic Fixed Income

  

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Scott Radell, Managing Director, is the Head of San Francisco Core Portfolio Management (Core PM) within Global Fixed Income, responsible for the management and oversight of all the Americas Index, iShares, and model based active fixed income funds.

 

Mr. Radell's service with the firm dates back to 2003, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Before founding the Portfolio Solutions Group, he was a portfolio manager responsible for BGI's active investment grade long-only and long/short cross-over portfolios. Prior to joining BGI, Mr. Radell served for over seven years as an analyst for corporate bond and Commercial Mortgage Backed Securities for Morgan Stanley Investment Management. Mr. Radell began his career as a fixed income client service and mortgage analyst at BARRA.

 

Mr. Radell earned a BA degree in quantitative economics and decision sciences from the University of California at San Diego in 1992.

Jeffrey Rosenberg
Jeffrey Rosenberg
Sr. Portfolio Manager, Systematic Fixed Income

   

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Jeffrey Rosenberg, CFA, Managing Director, leads active and factor investments for mutual funds, institutional portfolios and ETFs within BlackRock's Systematic Fixed Income ("SFI") portfolio management team. In this role he serves as a member of the SFI Investment and Executive Committees and as a senior portfolio manager for a number of our investment products including the Systematic Multi-Strategy fund.

 

Mr. Rosenberg's service with the firm dates back to 2011, when he joined the Fundamental fixed income group as Chief Investment Strategist for fixed income. In 2016, this role transitioned into the BlackRock Investment Institute. His responsibilities included helping to develop BlackRock's strategic and tactical views on sector allocation within fixed income, currencies and commodities.

 

Prior to joining BlackRock, Mr. Rosenberg spent nearly 10 years at Bank of America Merrill Lynch as the Chief Credit Strategist coordinating strategy across all fixed income, securitized assets, credit, FX and commodities. In addition, Mr. Rosenberg specialized in quantitative credit modeling and developed the first commercialized credit portfolio analytics system from a dealer firm.

 

Mr. Rosenberg earned a Master of Science degree in Computational Finance from Carnegie Mellon, a BA in Mathematics from the Univ. of Minnesota, and a BA in Finance from the Univ. of Wisconsin.

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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