Multi Asset

BMICX

Managed Income Fund

Overview

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Performance

Performance

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 performance information for periods prior to the inception date of the share class are based on the Fund’s Class K Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

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 Aug 14, 2020 $24.6 M
Size of Fund (Millions) as of Aug 14, 2020 $606.9 M
Share Class launch date Oct 03, 2016
Asset Class Fixed Income
Morningstar Category Allocation--15% to 30% Equity
Lipper Classification Multi-Sector Income Fds
Benchmark Index 70% BBG Barc US Aggregate Bond / 30% S&P 500 Index
CUSIP 09257E688
Net, Excluding Investment Related Expenses 1.34%
Gross Expense Ratio 1.75%
Number of Holdings as of Jul 31, 2020 2,234
Max Offer Price as of Aug 14, 2020 $9.99
Open to New Investors Yes
Turnover Percent in the Annual Report 71%

Portfolio Characteristics

Portfolio Characteristics

Best 3-Month Return Over the Last 3 Years 3 months ending Jun 30, 2020 7.03%
Worst 3-Month Return Over the Last 3 Years 3 months ending Mar 31, 2020 -7.94%
R-Squared (3y) as of Jul 31, 2020 73.56
Fund Standard Deviation (3y) as of Jul 31, 2020 5.64

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.

There is an additional management fee waiver of 0.14% related to certain affiliated investments.

Ratings

Ratings

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 Jul 31, 2020 out of 304, 6,022, 304, 71 and 304 Funds, respectively in Lipper's Multi-Sector Income Fds classification.

Holdings

Holdings

as of Jul 31, 2020
Name Weight (%)
APPLE INC - ELN 0.17
ISHARES EMERGING MARKETS DIVIDEND 0.15
AMAZON COM INC - ELN 0.14
JOHNSON & JOHNSON - ELN 0.11
MICROSOFT CORP - ELN 0.10
Name Weight (%)
CISCO SYSTEMS INC - ELN 0.10
PROCTER & GAMBLE - ELN 0.09
UNITEDHEALTH GROUP INC - ELN 0.09
JPMORGAN CHASE & CO - ELN 0.09
COSTCO WHOLESALE CORP - ELN 0.09
as of Jul 31, 2020
Name Weight (%)
Notional Cash Offset (FVU0 FUTURE) 16.22
ISHARES MBS ETF 4.91
Notional Cash Offset (TYU0 FUTURE) 4.63
Notional Cash Offset (UXYU0 FUTURE) 1.80
ISHARES IBOXX $ INV GRADE CORPORAT 1.70
Name Weight (%)
CIFC_17-3A A1 144A 0.30
VERIZON COMMUNICATIONS INC 4.272 01/15/2036 0.30
DRSLF_17-49A A 144A 0.28
COMCAST CORPORATION 3.7 04/15/2024 0.27
TRANSDIGM INC 144A 6.25 03/15/2026 0.26

Exposure Breakdowns

Exposure Breakdowns

as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Apr 28, 2017

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
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

Michael Fredericks
Head of Income Investing for BlackRock Multi-Asset Strategies Team

   

Justin Christofel, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

   

Alex Shingler, CFA
Portfolio Manager, Multi-Asset Portfolio Strategies

     

Portfolio Manager

Literature

Literature