BlackRock Systematic Multi-Strategy Fund
Name
As of 07/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
4.0%
1 yr return
9.6%
3 Yr Avg Return
2.7%
5 Yr Avg Return
3.4%
Net Assets
$6.66 B
Holdings in Top 10
10.9%
52 WEEK LOW AND HIGH
$10.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.21%
SALES FEES
Front Load 4.00%
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 07/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
BAMBX - Profile
Distributions
- YTD Total Return 4.0%
- 3 Yr Annualized Total Return 2.7%
- 5 Yr Annualized Total Return 3.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.81%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameBlackRock Systematic Multi-Strategy Fund
-
Fund Family NameBlackRock-advised Funds
-
Inception DateMay 19, 2015
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTom Parker
Fund Description
BlackRock will invest the Fund’s assets through a diversified set of strategies that seek to provide total return comprised of current income and capital appreciation in both periods of strong returns and periods of market stress. The Fund intends to allocate its investments across multiple investment strategies, certain of which will use both long and short positions, which the Fund expects to result in a lower correlation to the equity or fixed-income markets than if the Fund invested in either such market in its entirety. BlackRock will allocate the Fund’s assets across the following three broad strategies: (i) core allocation across the fixed-income and equity markets; (ii) long/short macro strategies; and (iii) long/short alpha strategies. In addition, a portion of the Fund’s assets may be managed pursuant to quantitative model-based strategies.
The Fund seeks to achieve its investment objective by investing in a range of global asset classes, with a focus on fixed and floating rate debt securities and equity securities. The Fund may invest directly in securities or instruments, through derivatives or by investing in other investment companies, including exchange traded funds (“ETFs”). The Fund will have flexibility with respect to its asset allocation and intends to diversify its exposure across a variety of global asset classes and strategies.
The Fund will normally invest in both U.S. and non-U.S. securities, including securities of companies located in emerging markets. The Fund may invest in non-U.S. dollar denominated investments, including investments denominated in European and Asian currencies and in other non-U.S. and emerging market currencies. The Fund may have significant exposure to foreign currencies. The Fund’s investments in non-U.S. dollar based assets may be made on a currency hedged or unhedged basis.
The Fund’s investment in debt securities may include U.S. Government and agency securities, foreign government and supranational debt securities, corporate bonds, mortgage-related securities and asset-backed securities, mortgage to-be-announced (“TBA”) securities, emerging market debt securities, preferred securities, structured products, credit-linked notes, mezzanine securities, senior secured floating rate and fixed rate loans or debt, second lien or other subordinated or unsecured floating rate and fixed rate loans or debt, convertible debt securities, and derivatives with similar economic characteristics. The Fund may invest in fixed, variable and floating rate instruments, including participations and assignments, of any duration or maturity.
The Fund may invest in debt securities of any credit quality, as determined by Fund management, which may include investment grade securities and high yield securities, including unrated securities (commonly called “junk bonds”).
The Fund’s investment in equity securities may include common stock, preferred stock, securities convertible into common stock, including contingent convertible bonds which are securities convertible into equity if a pre-specified trigger event occurs, and non-convertible preferred stock. The Fund may gain exposure to equity securities through derivatives.
The Fund may invest in derivatives, including but not limited to, swaps, including total return (some of which may be referred to as contracts for difference), credit default, index and interest rate swaps; options; forward contracts; futures; options on futures and swaps; and foreign exchange transactions, for hedging purposes, as well as to enhance returns. There is no limit to the Fund’s ability to invest in derivatives, except as may be limited by the requirements of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and at times the Fund may utilize derivatives to a significant extent. The Fund may utilize derivative instruments to maintain a portion of its portfolio long and short positions. The Fund may also invest in repurchase agreements, reverse repurchase agreements and dollar rolls. The Fund may also invest in indexed and inverse securities.
The Fund may purchase and sell securities on a when-issued, delayed delivery or forward commitment basis.
The Fund may engage in short sales for hedging purposes or to enhance total return. The Fund also may make short sales “against the box” without limitation. In this type of short sale, at the time of the sale, the Fund owns or has the immediate and unconditional right to acquire the identical security at no additional cost.
BAMBX - Performance
Return Ranking - Trailing
| Period | BAMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.0% | -73.0% | 19.4% | 55.20% |
| 1 Yr | 9.6% | -9.1% | 86.9% | 71.27% |
| 3 Yr | 2.7%* | -9.5% | 16.2% | 29.32% |
| 5 Yr | 3.4%* | -4.9% | 14.4% | 19.28% |
| 10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | BAMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.0% | -22.7% | 305.1% | 47.41% |
| 2022 | -7.6% | -9.8% | 27.3% | 56.05% |
| 2021 | 3.4% | -20.8% | 10.9% | N/A |
| 2020 | 2.2% | -12.4% | 29.4% | N/A |
| 2019 | 4.3% | -10.5% | 15.8% | N/A |
Total Return Ranking - Trailing
| Period | BAMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.0% | -73.0% | 19.4% | 55.20% |
| 1 Yr | 9.6% | -13.4% | 86.9% | 79.64% |
| 3 Yr | 2.7%* | -9.5% | 16.2% | 48.59% |
| 5 Yr | 3.4%* | -5.3% | 14.4% | 30.94% |
| 10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | BAMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.2% | -22.7% | 305.1% | 47.41% |
| 2022 | -3.2% | -9.8% | 27.3% | 56.45% |
| 2021 | 5.8% | -20.8% | 10.9% | N/A |
| 2020 | 3.3% | -8.4% | 29.4% | N/A |
| 2019 | 8.2% | -10.2% | 18.0% | N/A |
NAV & Total Return History
BAMBX - Holdings
Concentration Analysis
| BAMBX | Category Low | Category High | BAMBX % Rank | |
|---|---|---|---|---|
| Net Assets | 6.66 B | 1.5 M | 5.01 B | 1.85% |
| Number of Holdings | 1949 | 4 | 4478 | 2.83% |
| Net Assets in Top 10 | 725 M | -398 M | 2.55 B | 4.95% |
| Weighting of Top 10 | 10.89% | 13.1% | 100.0% | 89.45% |
Top 10 Holdings
- TRS:SMS Bond Informed Equity L/S - Citi CFD 1.36%
- Uniform Mortgage-Backed Security, TBA 1.36%
- TRS:SMS Bond Informed Equity L/S - GS CFD 1.25%
- TRS:SMS Defensive Equity L/S - BNP CFD 1.24%
- Uniform Mortgage-Backed Security, TBA 1.10%
- Freddie Mac STACR REMIC Trust 2021-DNA6 0.98%
- Freddie Mac STACR REMIC Trust 2021-DNA7 0.91%
- Ginnie Mae 0.90%
- TRS:SMS Defensive Equity L/S - Citi CFD 0.90%
- Uniform Mortgage-Backed Security, TBA 0.88%
Asset Allocation
| Weighting | Return Low | Return High | BAMBX % Rank | |
|---|---|---|---|---|
| Bonds | 93.63% | -326.45% | 6347.80% | 9.54% |
| Stocks | 10.56% | -3.75% | 97.95% | 78.09% |
| Other | 5.50% | -21.53% | 148.54% | 78.09% |
| Convertible Bonds | 2.29% | 0.00% | 87.92% | 18.02% |
| Cash | 0.14% | -6278.21% | 410.43% | 67.14% |
| Preferred Stocks | 0.00% | -0.12% | 46.97% | 60.42% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BAMBX % Rank | |
|---|---|---|---|---|
| Consumer Cyclical | 18.73% | 0.00% | 29.09% | 12.20% |
| Healthcare | 13.98% | 0.00% | 45.63% | 24.02% |
| Energy | 11.17% | 0.00% | 100.00% | 7.87% |
| Technology | 10.97% | 0.00% | 39.58% | 94.09% |
| Industrials | 8.80% | 0.00% | 21.45% | 9.45% |
| Consumer Defense | 8.01% | 0.00% | 13.62% | 6.30% |
| Real Estate | 6.47% | 0.00% | 51.26% | 24.80% |
| Financial Services | 6.32% | 0.00% | 59.28% | 86.61% |
| Communication Services | 5.56% | 0.00% | 21.78% | 95.28% |
| Basic Materials | 5.12% | 0.00% | 27.46% | 22.05% |
| Utilities | 4.87% | 0.00% | 9.23% | 4.33% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BAMBX % Rank | |
|---|---|---|---|---|
| US | 10.56% | -8.85% | 91.88% | 62.54% |
| Non US | 0.00% | -19.62% | 42.11% | 91.17% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BAMBX % Rank | |
|---|---|---|---|---|
| Securitized | 32.30% | 0.00% | 56.83% | 6.01% |
| Corporate | 26.51% | 0.00% | 87.73% | 17.67% |
| Derivative | 3.40% | 0.00% | 88.81% | 85.51% |
| Government | 0.15% | 0.00% | 84.29% | 81.27% |
| Cash & Equivalents | 0.14% | 0.27% | 100.00% | 60.07% |
| Municipal | 0.00% | 0.00% | 27.33% | 52.30% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BAMBX % Rank | |
|---|---|---|---|---|
| US | 93.63% | -126.19% | 6311.18% | 7.77% |
| Non US | 0.00% | -382.37% | 121.02% | 52.65% |
BAMBX - Expenses
Operational Fees
| BAMBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.21% | 0.29% | 31.15% | 74.82% |
| Management Fee | 0.73% | 0.00% | 2.50% | 31.45% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 40.54% |
| Administrative Fee | 0.06% | 0.01% | 0.30% | 5.48% |
Sales Fees
| BAMBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.00% | 2.50% | 5.75% | 88.46% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| BAMBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| BAMBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 491.00% | 98.05% |
BAMBX - Distributions
Dividend Yield Analysis
| BAMBX | Category Low | Category High | BAMBX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 4.56% | 39.22% |
Dividend Distribution Analysis
| BAMBX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| BAMBX | Category Low | Category High | BAMBX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.81% | -2.51% | 6.83% | 24.46% |
Capital Gain Distribution Analysis
| BAMBX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2023 | $0.389 | OrdinaryDividend |
| Jul 20, 2023 | $0.016 | OrdinaryDividend |
| Dec 29, 2022 | $0.365 | OrdinaryDividend |
| Jul 14, 2022 | $0.088 | OrdinaryDividend |
| Dec 30, 2021 | $0.250 | OrdinaryDividend |
| Dec 30, 2020 | $0.053 | OrdinaryDividend |
| Jul 16, 2020 | $0.035 | OrdinaryDividend |
| Apr 08, 2020 | $0.022 | OrdinaryDividend |
| Dec 30, 2019 | $0.189 | CapitalGainShortTerm |
| Dec 30, 2019 | $0.012 | CapitalGainLongTerm |
| Dec 30, 2019 | $0.022 | OrdinaryDividend |
| Oct 10, 2019 | $0.044 | OrdinaryDividend |
| Jul 18, 2019 | $0.048 | OrdinaryDividend |
| Apr 10, 2019 | $0.053 | OrdinaryDividend |
| Dec 28, 2018 | $0.066 | OrdinaryDividend |
| Dec 28, 2018 | $0.088 | CapitalGainShortTerm |
| Oct 11, 2018 | $0.065 | OrdinaryDividend |
BAMBX - Fund Manager Analysis
Managers
Tom Parker
Start Date
Tenure
Tenure Rank
May 19, 2015
7.04
7.0%
Managing Director of BlackRock, Inc. since 2009; Chief Investment Officer of BlackRock’s Systematic Fixed Income Group since 2015;Deputy Chief Investment Officer of BlackRock’s Model-Based Fixed Income Portfolio Management Group since 2010; Co-Head of Credit Investments and Member of the Fixed Income Research Approval Committee of Barclays Global Investors (“BGI”) from 2001 to 2009.
Scott Radell
Start Date
Tenure
Tenure Rank
May 19, 2015
7.04
7.0%
Scott Radell has been employed as managing director and portfolio manager with BlackRock Investment Management LLC and BlackRock Financial Advisers (formerly, Barclays Global Fund Advisors) and its predecessors since 2009. Mr. Radell served as a portfolio manager at Barclays Global Fund Advisors and its affiliates since 2004. Radell was a credit strategist from 2003 to 2004 before becoming a CoreAlpha Bond Portfolio Manager and prior to that he was employed by Morgan Stanley Asset Management as a credit analyst from 1996 to 2003.
Jeffrey Rosenberg
Start Date
Tenure
Tenure Rank
Oct 01, 2018
3.67
3.7%
Jeffrey Rosenberg, CFA. Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio since 2018, including setting the Fund’s overall investment strategy and overseeing the management of the Fund Managing Director of BlackRock, Inc. since 2011; Chief Fixed Income Strategist and member of the BlackRock Investment Institute since 2016; Chief Investment Strategist for Fundamental Fixed Income at BlackRock since 2011; Chief Credit Strategist at Bank of America Merrill Lynch from 2002 to 2011.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.02 | 17.37 | 4.48 | 1.67 |