What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Institutional Shares | $ |
| Footnote | Description |
Footnote(a) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
How did the Fund perform last year?
For the reporting period ended December 31, 2024, the Fund's Institutional Shares returned 7.20%.
For the same period, the Bloomberg U.S. Aggregate Bond Index returned 1.25% and the MSCI World Index returned 18.67%.
What contributed to performance?
Given the positive returns across the financial markets in 2024, most segments of the portfolio contributed to absolute returns. U.S. equities and infrastructure stocks helped results, as did floating rate loans, commercial mortgage-backed securities / non-agency mortgage-backed securities, high yield bonds, and preferred stocks. Investment-grade corporate bonds, emerging-market stocks, and emerging-market debt also made smaller, but nonetheless positive, contributions.
The Fund held derivatives during the year. Its use of covered calls (intended as an alternative source of income) and currency management strategies both aided performance.
The Fund’s cash position was modestly elevated at the end of the period given attractive yields and the investment adviser’s desire to have cash available to deploy if asset prices decline. The cash position contributed to absolute returns.
What detracted from performance?
The Portfolio’s exposure to rate-sensitive assets such as U.S. Treasuries and Euro bunds, which it achieved through the use of derivatives, detracted from absolute performance. Its use of U.S. equity derivatives (futures and options) to manage overall risk levels was a slight detractor, as well. International developed-market equities also detracted due to the impact of individual security selection.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: July 31, 2020 through December 31, 2024
Initial Investment of $10,000
Institutional Shares | ||||
|---|---|---|---|---|
Jul 20 | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | Since Fund
Inception |
|---|---|---|
Institutional Shares ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | |
MSCI World Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
50% MSCI World Index/50% Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The Fund commenced operations on July 31, 2020.
What did the Fund invest in?
(as of December 31, 2024)
Portfolio composition
Investment Type | Percent of
Affiliated Investment
Companies |
|---|---|
Fixed-Income Funds........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Short-Term Securities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
The Fund will mail only one copy of shareholder documents, including prospectuses, annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please call the Fund at (800) 441-7762.
The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, MSCI, Inc., and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.
© 2024 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
BRICX-12/24-AR
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Investor A Shares | $ |
| Footnote | Description |
Footnote(a) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
How did the Fund perform last year?
For the reporting period ended December 31, 2024, the Fund's Investor A Shares returned 6.89%.
For the same period, the Bloomberg U.S. Aggregate Bond Index returned 1.25% and the MSCI World Index returned 18.67%.
What contributed to performance?
Given the positive returns across the financial markets in 2024, most segments of the portfolio contributed to absolute returns. U.S. equities and infrastructure stocks helped results, as did floating rate loans, commercial mortgage-backed securities / non-agency mortgage-backed securities, high yield bonds, and preferred stocks. Investment-grade corporate bonds, emerging-market stocks, and emerging-market debt also made smaller, but nonetheless positive, contributions.
The Fund held derivatives during the year. Its use of covered calls (intended as an alternative source of income) and currency management strategies both aided performance.
The Fund’s cash position was modestly elevated at the end of the period given attractive yields and the investment adviser’s desire to have cash available to deploy if asset prices decline. The cash position contributed to absolute returns.
What detracted from performance?
The Portfolio’s exposure to rate-sensitive assets such as U.S. Treasuries and Euro bunds, which it achieved through the use of derivatives, detracted from absolute performance. Its use of U.S. equity derivatives (futures and options) to manage overall risk levels was a slight detractor, as well. International developed-market equities also detracted due to the impact of individual security selection.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: July 31, 2020 through December 31, 2024
Initial Investment of $10,000
Investor A Shares | ||||
|---|---|---|---|---|
Jul 20 | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | Since Fund
Inception |
|---|---|---|
Investor A Shares ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
Investor A Shares (with sales charge)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | |
MSCI World Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
50% MSCI World Index/50% Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Assuming maximum sales charges. Average annual total returns with and without sales charges reflect reductions for service fees.
The Fund commenced operations on July 31, 2020.
What did the Fund invest in?
(as of December 31, 2024)
Portfolio composition
Investment Type | Percent of
Affiliated Investment
Companies |
|---|---|
Fixed-Income Funds........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Short-Term Securities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
The Fund will mail only one copy of shareholder documents, including prospectuses, annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please call the Fund at (800) 441-7762.
The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, MSCI, Inc., and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.
© 2024 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
BRIAX-12/24-AR
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Institutional Shares | $ |
| Footnote | Description |
Footnote(a) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
How did the Fund perform last year?
For the reporting period ended December 31, 2024, the Fund's Institutional Shares returned 7.21%.
For the same period, the Bloomberg U.S. Aggregate Bond Index returned 1.25% and the MSCI World Index returned 18.67%.
What contributed to performance?
Given the positive returns across the financial markets in 2024, most segments of the portfolio contributed to absolute returns. U.S. equities and infrastructure stocks helped results, as did floating rate loans, commercial mortgage-backed securities / non-agency mortgage-backed securities, high yield bonds, and preferred stocks. Investment-grade corporate bonds, emerging-market stocks, and emerging-market debt also made smaller, but nonetheless positive, contributions.
The Fund held derivatives during the year. Its use of covered calls (intended as an alternative source of income) and currency management strategies both aided performance.
The Fund’s cash position was modestly elevated at the end of the period given attractive yields and the investment adviser’s desire to have cash available to deploy if asset prices decline. The cash position contributed to absolute returns.
What detracted from performance?
The Portfolio’s exposure to rate-sensitive assets such as U.S. Treasuries and Euro bunds, which it achieved through the use of derivatives, detracted from absolute performance. Its use of U.S. equity derivatives (futures and options) to manage overall risk levels was a slight detractor, as well. International developed-market equities also detracted due to the impact of individual security selection.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: July 31, 2020 through December 31, 2024
Initial Investment of $10,000
Institutional Shares | ||||
|---|---|---|---|---|
Jul 20 | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | Since Fund
Inception |
|---|---|---|
Institutional Shares ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | |
MSCI World Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
50% MSCI World Index/50% Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The Fund commenced operations on July 31, 2020.
What did the Fund invest in?
(as of December 31, 2024)
Portfolio composition
Investment Type | Percent of
Affiliated Investment
Companies |
|---|---|
Fixed-Income Funds........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Short-Term Securities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
The Fund will mail only one copy of shareholder documents, including prospectuses, annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please call the Fund at (800) 441-7762.
The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, MSCI, Inc., and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.
© 2024 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
BRIEX-12/24-AR
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Class name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
Investor A Shares | $ |
| Footnote | Description |
Footnote(a) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
How did the Fund perform last year?
For the reporting period ended December 31, 2024, the Fund's Investor A Shares returned 6.95%.
For the same period, the Bloomberg U.S. Aggregate Bond Index returned 1.25% and the MSCI World Index returned 18.67%.
What contributed to performance?
Given the positive returns across the financial markets in 2024, most segments of the portfolio contributed to absolute returns. U.S. equities and infrastructure stocks helped results, as did floating rate loans, commercial mortgage-backed securities / non-agency mortgage-backed securities, high yield bonds, and preferred stocks. Investment-grade corporate bonds, emerging-market stocks, and emerging-market debt also made smaller, but nonetheless positive, contributions.
The Fund held derivatives during the year. Its use of covered calls (intended as an alternative source of income) and currency management strategies both aided performance.
The Fund’s cash position was modestly elevated at the end of the period given attractive yields and the investment adviser’s desire to have cash available to deploy if asset prices decline. The cash position contributed to absolute returns.
What detracted from performance?
The Portfolio’s exposure to rate-sensitive assets such as U.S. Treasuries and Euro bunds, which it achieved through the use of derivatives, detracted from absolute performance. Its use of U.S. equity derivatives (futures and options) to manage overall risk levels was a slight detractor, as well. International developed-market equities also detracted due to the impact of individual security selection.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: July 31, 2020 through December 31, 2024
Initial Investment of $10,000
Investor A Shares | ||||
|---|---|---|---|---|
Jul 20 | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | Since Fund
Inception |
|---|---|---|
Investor A Shares ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
Investor A Shares (with sales charge)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | |
MSCI World Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ||
50% MSCI World Index/50% Bloomberg U.S. Aggregate Bond Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Assuming maximum sales charges. Average annual total returns with and without sales charges reflect reductions for service fees.
The Fund commenced operations on July 31, 2020.
What did the Fund invest in?
(as of December 31, 2024)
Portfolio composition
Investment Type | Percent of
Affiliated Investment
Companies |
|---|---|
Fixed-Income Funds........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Short-Term Securities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
The Fund will mail only one copy of shareholder documents, including prospectuses, annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please call the Fund at (800) 441-7762.
The Fund is not sponsored, endorsed, issued, sold, or promoted by Bloomberg Index Services Limited, MSCI, Inc., and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.
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BRIDX-12/24-AR