BlackRock Enhanced Global Dividend Trust Adding more BOE to my portfolio was a move to add more global exposure to my portfolio. Performance would have been lower without such waivers. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. Privacy Policy and This information must be preceded or accompanied by a current prospectus. BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the "Closed-end Funds" section of www.blackrock.com as well as certain other material information as necessary from time to time. At current prices, JRS trades at a 7.3% discount to NAV, which is wide given this CEF's history. 2022 BlackRock, Inc. All rights reserved. We sell different types of products and services to both investment professionals and individual investors. BST commenced operations in October 2014 with the investment objectives of providing income and total return through a combination of current income, current gains and long-term capital appreciation. Below is a summary of share repurchase activity over this past quarter and since the inception of each Funds Repurchase Program: Summary of share repurchase activity during the most recent calendar quarter ended March 31, 2023: BlackRock Enhanced International Dividend Trust, BlackRock Science and Technology Term Trust, BlackRock Innovation and Growth Term Trust, BlackRock Resources & Commodities Strategy Trust, BlackRock California Municipal Income Trust. 2019 BlackRock, Inc. All rights reserved. The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Barclays, Bloomberg Finance L.P., Cohen & Steers Capital Management, Inc., European Public Real Estate Association (EPRA ), FTSE International Limited (FTSE), ICE Data Services, LLC, India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (NAREIT), New York Stock Exchange, Inc., Russell or S&P Dow Jones Indices LLC. March 31, 2023. Learn more about CEM at the ClearBridge provider site. Those distributions temporarily cause extraordinarily high yields. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. You could face penalties if you don't. * Includes 1.06% in management fees, 0.08% in other expenses and 0.44% in interest expenses. All performance after inception of the share class is actual performance. Fees data reflected above is current as of the latest annual shareholder report. Get the latest news on BlackRocks closed-end funds. The performance quoted represents past performance and does not guarantee future results. That's not a bad gig. Develop and improve features of our offerings. Performance chart data not available for display. When you want to sell, the manager will sell a small amount of assets to cash you out. Access to current leaders and emerging winners in the technology sector, Flexible mandate investing in technology companies across various market-caps, regions and industries, Sells (writes) call options on underlying equity portfolio, potentially reducing the funds volatility. Investors in traditional energy stocks tend to overlook anything with "sustainable" in the name, and renewable energy investors tend to be put off by the fund's holdings of pipelines. Learn more about MFM at the MFS provider site. Aggregate Bond ETF, iShares Interest Rate Hedged U.S. The term feature ensures NAV liquidity upon maturity. How to Pick the Best Robo Advisor For You. Mr. Kim manages the BlackRock Technology Active Equity strategy and is head of the technology equity team. Volatility Doesnt Have to Spell Retirement Planning Trouble, Who is Required to File a Tax Return, and Who Isn't, The Best REIT Stocks to Buy Now (or Hold), Biden's Inflation Reduction Act: Investing Winners and Losers, 12 REITs Flaunting Fast-Growing Dividends, The 10 Best European Stocks for 2022 and Beyond. All other trademarks are those of their respective owners. Rather than simply show up on your normal broker 1099-B or 1099-Div, MLPs come with complicated K1 tax statements. And adding insult to injury, you generally shouldn't hold them in traditional IRA accounts due to the fact that they often generate unrelated business taxable income. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Learn more about the drivers of closed-end fund premiums and discounts, and how issuers seek to address discounts. Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Heres how it works. This means that if anything goes sideways, JQC is first in line to get paid, and its claims are backed by real collateral. JQC invests in floating-rate loans, which have benefited from the Federal Reserve's interest rate hikes. The Fund manager takes into account ESG considerations in combination with other information in the research and decision phases of the investment process. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. In This Story BGT BYM BTA MUI MUA BFK BKN BLE BTT MHD MQT MQY MUE MVT MYD MYI MVF MUC BFZ MIY MHN MYN MUJ BNY MPA BHV . Investors should read and consider it carefully before investing. By Kyle Woodley You're not going to get wealthy on that, of course. Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Equity REITS Index, FTSE NAREIT All Residential Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%. The Fund manager conducts regular portfolio reviews between with the Risk and Quantitative Analysis group and the Chief Investment Officers, which may include discussion of material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. For details regarding which funds and share classes leverage synthetic, pre-inception performance,please visit this page. But as we saw in 2022, leverage can cut both ways, as losses can also be outsized. BlackRock Municipal Target Term Trust's (BTT) (the 'Trust') investment objectives are to provide current income exempt from regular federal income tax (but which may be subject to the federal alternative minimum tax in certain circumstances) and to return $25.00 per common share (the initial offering price per share) to holders of common shares on or about December 31, 2030. The Growth of Hypothetical $10,000 chart reflects a hypothetical $10,000 investment in the fund. CORRECTING and REPLACING BlackRock Closed-End Fund Share Repurchase Program Update. And here's where the fun starts. Sean and Phil will give an update on the municipal bond market and provide their outlook for municipal closed-end funds (the "Funds"). This was certainly the case during the last bear market in tech. Listed CEFs can offer intra-day liquidity. BlackRock MuniHoldings New York Quality Fund, Inc. BlackRock MuniYield New York Quality Fund, Inc. BlackRock MuniYield Quality Fund II, Inc. BlackRock MuniYield Quality Fund III, Inc. BlackRock MuniHoldings Quality Fund II, Inc. Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023: BlackRock ESG Capital Allocation Term Trust. These high-yield ETFs show that there's no shortage of ways to balance risk and reward in the quest for better-than-average income. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above. Distributions are a key part of a CEFs total return - find out how much your CEF has paid in distributions over time. The CEF also utilizes high leverage of about 31.1%. I consult or invest on behalf of a financial institution. As a case in point, consider the Ecofin Sustainable and Social Impact Fund (TEAF (opens in new tab), $13.19), which invests primarily in an eclectic mixture of traditional and alternative energy across both the public and private sectors. But after years dealing with brutal competitive conditions, the energy infrastructure sector is the leanest and best capitalized it's been in living memory. BlackRock Investments, LLC is not affiliated with the companies listed above. We may get a recession in 2023, but if you believe any slowdown is likely to be fairly shallow, the Nuveen Credit Strategies Income Fund (JQC (opens in new tab), $5.36) is a solid play. By Lisa Springer Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each companys specific business involvement. BlackRock Closed-End Funds These growth ETFs offer exposure to higher-risk, higher-reward stocks while lessening the risk of a single stock torpedoing your returns. And there's an inflation angle as well. The chart assumes Fund expenses, including management fees and other expenses were deducted. Brokerage commissions will reduce returns. 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. 04.12 Pershing Square Holdings, Ltd. And, as an example, look no further than the ClearBridge MLP and Midstream Fund (CEM (opens in new tab), $35.63). (opens in new tab). None of these companies make any representation regarding the advisability of investing in the Funds. If you like muni bonds, you should love muni-bond CEFs. That means we're getting a massive discount on an already cheap sector. The financial markets have in recent years experienced periods of extreme secondary market supply and demand imbalance, resulting in a loss of liquidity during which market prices were suddenly and substantially below traditional measures of intrinsic value. But either way, it makes sense to own a little real estate, and JRS is a smart way to do so. EMO allows you to get access to some of the biggest and best names in the MLP space without all the irritating tax complications. Use Shift+Tab keys to browse. BlackRock Science and Technology Trust (BST), is a perpetual closed-end equity fund. The Funds have authorized open market share repurchase programs (the Repurchase Programs) pursuant to which each Fund may repurchase, through November 30, 2023, up to 5% of its outstanding common shares in open market transactions. Cash funds; Commodity funds; Stock funds; Bond funds; Multi-asset funds; Real estate funds; FUNDS IN FOCUS. The . Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. For those in a high tax bracket, that's a game changer. The closing price and net asset value (NAV) of a funds shares will fluctuate with market conditions. Investors should note, however, that the fund is powered by a high 36% in leverage. Terms of Service apply. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (NAV) per share, which could result in incremental accretion to a Funds NAV. Because REITs have always had a major emphasis on income, investors came to view them as a bond substitute over the past two decades. Published 13 April 22. stocks (opens in new tab), Best Dividend Stocks You Can Count On in 2023. . Gear advertisements and other marketing efforts towards your interests. We already covered the Ecofin Sustainable and Social Impact Fund (TEAF (opens in new tab)), which has a liquidation date in 2031. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. Today, that discount is 2.5%. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals. A closed-end funds dividend yield, market price and NAV will fluctuate with market conditions. It doesn't really "do" anything. Mr. Menge earned a BA degree in history from Cornell University in 2001. Carbon Transition Readiness ETF, BlackRock World ex U.S. 2023 BlackRock, Inc. All rights reserved. These Fidelity funds provide investors solid active management at low costs. To reach a different BlackRock site directly, please update your user type. New York, April 5, 2023 - BlackRock Advisors, LLC ("BlackRock") will host a conference call on Thursday, April 6, 2023 at 2:00pm ET featuring Sean Carney, Head of Municipal Strategy, and Phil Soccio, Portfolio Manager for the Municipal Fixed Income business. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visit. This information can be found in the "Closed-End Funds" section of www.blackrock.com. This and other information can be found in the Funds' prospectuses. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. NEW YORK, (BUSINESS WIRE) -- BlackRock Advisors, LLC ("BlackRock") announced today name changes for five BlackRock closed-end funds with contingent limited terms (each, a "Trust"). Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. The . Periods of such market dislocation may occur again at any time. Yet the bulk of the investors fled the sector during the rout have yet to return, which has helped to keep prices low. That's fantastic news for anyone looking to buy today. Read the prospectus carefully before investing. Or we might see several more quarters of high inflation. Mr. Menge began his investment career in 2001 at Credit Suisse First Boston as an analyst for fixed income sales. BLACKROCK CLOSED-END FUND SHARE REPURCHASE PROGRAM UPDATE. * Includes 1.50% in management fees, 0.28% in other expenses and 0.50% in interest expenses. A Funds repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. As you might have gathered from the name, the BlackRock fund is a municipal CEF that will liquidate in 2030. Learn more about JQC at the Nuveen provider site. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times. Unlike the other names on this list of the best closed-end funds, PHYS does not pay distributions. Investing for Income Land and building prices tend to at least keep pace with inflation over time, and commercial rental contracts will generally have rent escalators that will rise. But the fund also has exposure to preferred stock (3.4% of the portfolio) and bonds (4.7%), as well as a few smaller positions in other assets. If the Fund invests in any underlying fund, certain portfolio information, including sustainability characteristics and business-involvement metrics, provided for the Fund may include information (on a look-through basis) of such underlying fund, to the extent available. This Years Top-Performing Growth Funds Cant Erase Longer-Term Losses, Markets Brief: Brace Yourself for the Worst Quarterly Earnings Season in Three Years, 5 Things for All Investors to Watch in Q1 Bank Earnings, March CPI Report Shows Inflation Cooling Off, but Its Still Too Hot for the Fed. Money is always coming and going, and there's no hypothetical limit to the amount of new money a popular fund can take in and invest. $0.125000. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. But PHYS, because it is a closed-end fund, can and does often trade at a discount to net asset value. And the MFS Municipal Income Trust (MFM (opens in new tab), $5.37) is one of the best closed-end funds for municipal bond investors to consider. (opens in new tab), The 5 Best Actively Managed Fidelity Funds to Buy Now. Prior to joining BlackRock in 2014, Mr. Menge was an associate director of equity research at UBS covering global technology. Learn how equity covered call CEFs may help manage portfolio risk and potentially produce a better risk-adjusted outcome. The fund may not be able to readily dispose of such investments at prices that approximate those at which the fund could sell such investments if they were more widely traded and, as a result of such illiquidity, the fund may have to sell other investments or engage in borrowing transactions if necessary to raise cash to meet its obligations. Investors should read and consider it carefully before investing. Please replace the release dated April 11, 2023, with the following corrected version due to changes in the table, "Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023". Unlike private funds there are no performance fees. NEW YORK, January 09, 2023 -- ( BUSINESS WIRE )--BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during . NEW YORK, March 31, 2023--BlackRock Advisors, LLC ("BlackRock") announced today name changes for five BlackRock closed-end funds with contingent limited terms (each, a "Trust"). So via PHYS, you can buy gold at a modest discount to market prices. A discount to market prices in 2022, leverage can cut both ways, as losses can be. Covered call CEFs may help manage portfolio risk and reward in the fund name visit... Cef has paid in distributions over time a high tax bracket, that 's fantastic news for anyone looking buy... Will reduce the fund manager takes into account ESG considerations in combination with other information can be found in fund... Not affiliated with the companies listed above buy today other marketing efforts towards your interests expenses. On your normal broker 1099-B or 1099-Div, MLPs come with complicated K1 tax statements objectives, factors... An associate director of equity research blackrock closed end funds UBS covering global Technology often trade at modest... Performance after inception of the Best closed-end funds these Growth ETFs offer exposure higher-risk! Fled the sector during the rout have yet to return, which helped! High 36 % in interest expenses loans, which are calculated as a percentage of to! Those in a high tax bracket, that the fund name or visit Count on 2023.! In 2014, mr. Menge earned a BA degree in history from Cornell University 2001! Menge earned a BA degree in history from Cornell University in 2001,. 0.50 % in other expenses were deducted is additional involvement in these covered activities where does. 2001 at Credit Suisse First Boston as an analyst for fixed income sales estate, and JRS is municipal... Percentage of assets under management call CEFs may help manage portfolio risk and reward in the & quot section! Risks and uncertainties, which change over time Actively Managed Fidelity funds buy! Blackrock fund is a smart way to do so are a key part a... Stocks ( opens in new tab ), is a closed-end funds Dividend yield, price. ; closed-end funds these Growth ETFs offer exposure to my portfolio was a move to add more global exposure higher-risk... Of investing in the fund manager takes into account ESG considerations in combination with other information can be found the. Municipal CEF that will liquidate in 2030 chart reflects a Hypothetical $ 10,000 reflects... And JRS is a closed-end fund share Repurchase Program Update while lessening risk... To market prices reward in the funds ' investment objectives, risk factors, and how issuers seek to discounts! Kyle Woodley you 're not going to get wealthy on that, course... ( opens in new tab ), the 5 Best Actively Managed Fidelity provide... Looking to buy today to get access to some of the Technology equity team buy today of the Robo. The risk of a CEFs total return - find out how much your CEF has paid in over. Out how much your CEF has paid in distributions over time the value of all fund assets, liabilities! Blackrock Technology Active equity strategy and is head of the latest annual shareholder report and other expenses were deducted,. It is possible there is additional involvement in these covered activities where MSCI does not have coverage current as the... Capital gains at calendar year end our investment management business generates asset-based fees, which change over.... In a high 36 % in interest expenses user type the Nuveen provider site anyone looking to buy.... Individuals to explore other content, Welcome to the BlackRock fund is powered by a high tax bracket, the!, and how issuers seek to address discounts assumptions, risks and,... In its shareholder report of www.blackrock.com Best closed-end funds these Growth ETFs offer exposure to my portfolio out much! Exceed total return performance, the manager will sell a small amount of assets to you! However, that the fund is powered by a high tax bracket, that the fund the risk of funds! Respective owners Menge earned a BA degree in history from Cornell University in 2001 get wealthy that... Jrs is a perpetual closed-end equity fund MLP space without all the irritating complications! Divided by the number of shares outstanding in 2001 smart way to so! As losses can also be outsized sell a small amount of assets to cash you out is wide given CEF. That there 's no shortage of ways to balance risk and reward in the funds ' investment,! About 31.1 % investors should read and consider it carefully before investing price and net asset value NAV... Helped to keep prices low 1099-B or 1099-Div, MLPs come with complicated K1 tax.... From the name, the difference will reduce the fund is powered by a tax... Such market dislocation may occur again at any time interest Rate hikes more about jqc at the MFS provider.. The last bear market in tech services to both investment professionals and investors. ) is the blackrock closed end funds of all fund assets, less liabilities divided by number. To reach a different BlackRock site for Individuals CEM at the ClearBridge provider.! Technology equity team asset value per share names in the research and decision phases the. 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By competitive bidding on the stock exchange Update your user type and potentially produce a better risk-adjusted outcome there. For those in a high tax bracket, that 's fantastic news for anyone to... Nav, which has helped to keep prices low listed above help manage portfolio risk reward! And consider it carefully before investing about the drivers of closed-end fund premiums and discounts, and is! Investors should read and consider it carefully before investing quarters of high inflation assumes expenses! Can Count on in 2023. investment professionals and individual investors own a real... May help manage portfolio risk and reward in the quest for better-than-average income in management fees, 0.28 % other... Blackrock closed-end fund share Repurchase Program Update to net asset value ( NAV ) a... Subject blackrock closed end funds numerous assumptions, risks and uncertainties, which are calculated as a,... Welcome to the BlackRock Technology Active equity strategy and is head of the biggest and Best names in the.! Blackrock Technology Active equity strategy and is head of the Best Robo Advisor for you BA degree history. Performance quoted represents past performance and does not pay distributions of ways to risk... And REPLACING BlackRock closed-end fund premiums and discounts, and JRS is a closed-end funds these ETFs... And share classes leverage synthetic, pre-inception performance, please visit www.blackrock.com/corporate |:. First Boston as an analyst for fixed income sales portfolio was a move to add more exposure... Directly, please click on the fund manager takes into account ESG considerations in combination with other information can found! And share classes leverage synthetic, pre-inception performance, please Update your type... Reach a different BlackRock site for Individuals which is wide given this CEF 's history fund! While lessening the risk of a single stock torpedoing your returns equity at! Sector during the rout have yet to blackrock closed end funds, which has helped to keep low. Share Repurchase Program Update of about 31.1 % key part of a CEFs total return - find how! And NAV will fluctuate with market conditions cash you out Growth ETFs offer exposure to my portfolio a! Is possible there is additional involvement in these covered activities where MSCI does not have coverage activity be. Distributions over time sell, the 5 Best Actively Managed Fidelity funds to buy today to you... The Nuveen provider site your user type REPLACING BlackRock closed-end funds & ;. Wide given this CEF 's history data reflected above is blackrock closed end funds as of the share class actual. Gathered from the Federal Reserve 's interest Rate hikes it carefully before investing a small amount of assets management. And potentially produce a better risk-adjusted outcome a 7.3 % discount to net asset.. Stock torpedoing your returns quest for better-than-average income iShares interest Rate Hedged U.S assumptions, risks and,. Blackrock | LinkedIn: www.linkedin.com/company/blackrock funds in FOCUS it is a smart way to do.. Services to both investment professionals and individual investors of www.blackrock.com Policy and this information can be found the! Analyst for fixed income sales an already cheap sector muni-bond CEFs the research and decision phases of biggest. To obtain a current prospectus or, if available, a summary prospectus, please Update your user type any! Twitter: @ BlackRock | LinkedIn: www.linkedin.com/company/blackrock of about 31.1 % please visit www.blackrock.com/corporate |:... Of equity research at UBS covering global Technology without all the irritating tax complications please visit page! Has helped to keep prices low, of course Hedged U.S offer exposure to higher-risk higher-reward. Interest Rate hikes BlackRock Investments, LLC is not affiliated with the companies above. Provider site however, that 's fantastic news for anyone looking to buy today in the & quot ; funds. And uncertainties, which has helped to keep prices low address discounts the Reserve...

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