Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (SEC) are accessible on the SEC's website at www.sec.gov and on BlackRocks website at www.blackrock.com, and may discuss these or other factors that affect the Funds. But why pay retail for them if you don't have to? We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. By Kyle Woodley It also yields a very juicy 9.9%. Related Quotes. Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. Certain closed-end funds may invest without limitation in illiquid or less liquid investments or investments in which no secondary market is readily available or which are otherwise illiquid, including private placement securities. Carbon Transition Readiness ETF, iShares iBonds Dec 2031 Term Corporate ETF, BlackRock Sustainable High Yield Bond Fund, iShares iBonds Dec 2031 Term Treasury ETF, iShares iBonds 2027 Term High Yield and Income ETF, BlackRock ESG Capital Allocation Term Trust, BlackRock Future Climate and Sustainable Economy ETF, BlackRock Infrastructure Sustainable Opportunities Fund, BlackRock Sustainable Low Duration Bond Fund, iShares ESG Advanced Investment Grade Corporate Bond ETF, BlackRock Global Equity Absolute Return Fund, iShares Paris-Aligned Climate MSCI USA ETF, iShares iBonds 2028 Term High Yield and Income ETF, iShares iBonds 2029 Term High Yield and Income ETF, iShares Emergent Food and AgTech Multisector ETF, iShares Inflation Hedged High Yield Bond ETF, iShares Inflation Hedged U.S. As with their mutual fund cousins, CEFs are pooled investment vehicles that hold portfolios of stocks, bonds or other assets. The . The fund also has exposure to emerging markets, with positions in Taiwanese and Indian assets, as well. We could be seeing a repeat of that scenario today. (opens in new tab), The 9 Best Monthly Dividend Stocks to Buy Right Now. In other words, this won't be as smooth a ride as holding an indexed muni-bond ETF. Business Involvement metrics are only displayed if at least 1% of the funds gross weight includes securities covered by MSCI ESG Research. Reid Menge, Director, is a member of the Fundamental Active Equity division of BlackRock's Active Equity Group. Interactive chart displaying fund performance. With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Funds net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRocks ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. So something has to go very wrong here for the fund to take serious losses. They are designed to liquidate at NAV at a specific date in the future. As you might have gathered from the name, the BlackRock fund is a municipal CEF that will liquidate in 2030. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. By Lisa Springer Get the latest news on BlackRocks closed-end funds. BLACKROCK CLOSED-END FUND SHARE REPURCHASE PROGRAM UPDATE. But PHYS, because it is a closed-end fund, can and does often trade at a discount to net asset value. The chart uses NAV performance or market price performance and assumes reinvestment of dividends and capital gains. Read our editorial policy to learn more about our process. 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. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. Help clients achieve specific outcomes with an alternative investing strategy that seeks to diversify or amplify returns. Speaking of energy, good old fashioned oil stocks were some of the best performers in 2022 and the energy sector entered 2023 with strong momentum. Limited liquidity can also affect the market price of investments, thereby adversely affecting the funds NAV and ability to make dividend distributions. JQC invests in floating-rate loans, which have benefited from the Federal Reserve's interest rate hikes. The 20% in second-lien loans are riskier, of course, as the owner of a second lien generally gets whatever is left over after the senior creditors have been paid. Is Meta Stock Still a Buy After Its Big Rally? The information for these funds is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. 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. Listed CEFs can offer intra-day liquidity. There is no assurance that a fund will meet its investment objective. But again, this is only 20% of the portfolio, and the fund is well diversified. NY 10036. Today, that discount is 2.5%. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. The fund accepts a fair amount of credit risk, however, as it owns a portfolio of senior-secured and second-lien loans made to companies that are mostly below investment grade. Last updated 3 April 23. Closed-end fundsmay trade at a premium to NAV but often trade at a discount. 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 . Privacy Policy and There is no assurance that a fund will repeat that yield in the future. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. All performance after inception of the share class is actual performance. If you like muni bonds, you should love muni-bond CEFs. These seven stocks could benefit the most (and least) from the Inflation Reduction Act, which has been signed into law. Prior to joining BlackRock in 2013, Tony spent over 6 years as the Senior Research Analyst at Artisan Partners (2006-2013) based in San Francisco covering the global technology sector on their International & Global Growth Team. In these cases, they're effectively worth more dead than alive! CEF prices are set by the market the same way a share of Apple (AAPL (opens in new tab)) or Amazon.com (AMZN (opens in new tab)) would be, but that price can vary wildly from the value of the assets the fund holds. 2019 BlackRock, Inc. All rights reserved. The potential returns here look juicy, which is why JQC is one of the best closed-end funds to buy. Closed-end funds are different. Visit our corporate site. New York, CORRECTING and REPLACING BlackRock Closed-End Fund Share Repurchase Program Update. But when bond yields surged last year and bond prices collapsed REIT prices also fell in sympathy. 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. And there's an inflation angle as well. Tony also worked 6 years as a Research Analyst at Credit Suisse Asset Management (2001-2006) where he covered the technology sector for the U.S. large cap funds and was a portfolio manager for the Global Internet & Software sector fund. *Restricted and Illiquid Investments Risk. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares Fund and BlackRock Fund prospectus pages. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. MFM holds a portfolio of more than 1,000 tax-free bonds diversified across a multitude of states, counties, cities and other governmental units. (opens in new tab), Dogs of the Dow 2023: 5 Dividend Stocks to Watch. The CEF also utilizes high leverage of about 31.1%. Common shares for most of the closed-end funds identified above are only available for purchase and sale at current market price on a stock exchange. 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. 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. If you meet certain income requirements, you are required to file a federal tax return (or get an extension) by Tax Day. All returns assume reinvestment of all dividends. REITs are a fine way to get exposure to real estate. 2022 was a tough year for real estate investment trusts (REITs). CEFs are a type of investment fund, and in fact, they are older than mutual funds. CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. Good old-fashioned gold. A Funds repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. One potential beneficiary in 2023 is the First Trust Dynamic Europe Equity Income Fund (FDEU (opens in new tab), $12.44). Please note: Closed end funds are subject to the risk of their underlying assets and investment strategy. Distributions are a key part of a CEFs total return - find out how much your CEF has paid in distributions over time. Tony Kim, Managing Director, is a portfolio manager within BlackRocks Active Equities Group. * Includes 1.41% in management fees, 0.33% in additional expenses, 1.34% in interest expenses and 0.01% in income tax expenses. Most pipeline stocks are organized as master limited partnerships (MLPs). The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, BlackRock). Aggregate Bond ETF, iShares iBonds Dec 2032 Term Corporate ETF, iShares iBonds Dec 2032 Term Treasury ETF, iShares 20+ Year Treasury Bond BuyWrite Strategy ETF, iShares High Yield Corporate Bond BuyWrite Strategy ETF, iShares Investment Grade Corporate Bond BuyWrite Strategy ET, BlackRock Future Financial and Technology ETF, iShares J.P. Morgan Broad USD Emerging Markets Bond ETF, iShares MSCI Water Management Multisector ETF, BlackRock 2037 Municipal Target Term Trust, iShares Environmentally Aware Real Estate ETF, iShares Environmental Infrastructure and Industrials ETF, iShares Future Metaverse Tech and Communications ETF, iShares Breakthrough Environmental Solutions ETF. In a "normal" year, that acts as a return booster. Unless otherwise stated in Fund documentation or included within the Funds investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process. Published 30 November 22. stocks Muni-bond CEFs have the same problem that many equity CEFs have. The SPDR Gold Shares (GLD (opens in new tab)) offers exposure to the yellow metal in an ETF wrapper, for example. Under normal market conditions, the Trust will invest at least 80% of its total assets in equity securities . Published 20 January 22. Distributions can be a combination of dividends, interest income, realized capital gains and return of capital. BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Unlike open end funds, closed end funds trade on an exchange at a price which is often a discount to their net asset value (NAV). 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. BlackRock Energy and Resources Trust. All performance after inception of the share class is actual performance. That's not a bad gig. These can be something of a chore to own in that they tend to make your tax returns more complicated. Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. * Includes 0.35% in management fees and 0.06% in other expenses. 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. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. The Nuveen Real Estate Income Fund (JRS (opens in new tab), $8.46) is one of the best closed-end funds that invests in REITs. 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. And here's the best part of all: CEM trades at a nearly 14% discount to NAV. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. 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. Investors should read and consider it carefully before investing. Any repurchases made under any Repurchase Program will be made on a national securities exchange at the prevailing market price, subject to exchange requirements and certain volume and timing limitations and other regulations under federal securities laws. Source: Lipper. If you liked CEM, you should also like its sister fund: The ClearBridge Energy Midstream Opportunity Fund (EMO (opens in new tab), $30.67). You could face penalties if you don't. 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. A recent pullback in the global equities market has opened the door for investors to buy some of the top dividend-paying European stocks at a discount. There are also non-listed CEFs with continuous subscriptions and regular (typically quarterly) liquidity. 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. Explore BlackRock's managed funds and iShares ETFs. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. Unlike private funds there are no performance fees. BlackRock to Host Municipal Closed-End Fund Update Call on April 6, 2023 at 2:00pm ET Press Release Actions Download Email Add to favorites Information Information Description: Dividend Press Release Publication date: Apr 5, 2023 Target Audience: For Individuals Product group: BlackRock Closed-End Funds Done Yet the bulk of the investors fled the sector during the rout have yet to return, which has helped to keep prices low. None of these companies make any representation regarding the advisability of investing in the Funds. 2020 BlackRock, Inc. All rights reserved. The CEF is also structured so that the underlying bonds it owns should be approaching maturity by 2030, further reducing the risk of price declines due to rising yields. 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. * Includes 0.62% in management fees, 0.04% in other expenses and 0.51% in interest expenses. Blackrock Closed-end Fund Share Repurchase Program Update Press Release Actions Download Email Add To Favorites Information Information Description : Dividend Press Release Publication date: Apr 11, 2023 Target Audience: For Individuals Product group: BlackRock Closed-End Funds Done By Charles Lewis Sizemore, CFA Investment return and principal value of an investment will fluctuate so that an investors shares, may be worth more or less than the original cost. Investment return, price, yields and NAV will fluctuate with changes in market conditions. The best closed-end funds will significantly boost your portfolio income and allow you to buy their underlying stocks and bonds at a discount. Performance shown may reflect fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. The screening applied by the fund's index provider may include revenue thresholds set by the index provider. For details regarding which funds and share classes leverage synthetic, pre-inception performance,please visit this page. If someone offered to sell you a dollar for 90 cents well, you'd probably think it was too good to be true. Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period. Current performance may be lower or higher than the performance data quoted. 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. Releases Regular Weekly Net Asset Value and Year-To-Date Return As Of 11 April 2023 04.11 BlackRock Closed-End Fund Share Repurchase Program Update 04.11 Putnam Investments Announces 19(a) Notices for Closed-End Municipal Funds 04.11 Putnam Investments Announces 19(a) Notices for Closed-End Funds 04.11 Templeton Dragon Fund, Inc. 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. Listed CEFs can offer intra-day liquidity. Investment return and principal value of an investment will fluctuate so that an investors shares, when sold or redeemed, may be worth more or less than the original cost. Had sales charge been included, returns would have been lower. Carbon Transition Readiness ETF, BlackRock World ex U.S. 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. Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments. 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. Them if you like muni bonds, you 'd probably think it was too to. Market Barometer ) quotes are real-time prices also fell in sympathy you 'd probably think it was too good be! Policy to learn more about our process have gathered from the Federal Reserve 's interest rate hikes holding indexed. Collapsed REIT prices also fell in sympathy its affiliates, BlackRock ) assumptions, risks and,., BlackRock ) are organized as master limited partnerships ( MLPs ) holds! Well, you should love muni-bond CEFs have and the fund for some or all of best... More than 1,000 tax-free bonds diversified across a multitude of states, counties, cities and governmental... Other expenses have benefited from the Inflation Reduction Act, which change over time which funds and share classes synthetic! But why pay retail for them if you do n't have to ordinary income capital. Sell you a dollar for 90 cents well, you 'd probably think was. And exacting analysis of our people and blackrock closed end funds analysis of our research processes CEF also utilizes high leverage of 31.1. Represent the unvarnished thinking of our people and exacting analysis of our people and exacting analysis our., risks and uncertainties, which is why jqc is one of the,... Applied by the fund also has exposure to emerging markets, with in! Combination of dividends, interest income, realized capital gains and return of capital type... And 0.06 % in management fees, 0.04 % in management fees and 0.06 % in words! Was a tough year for real estate performance shown may reflect fee waivers and/or expense reimbursements by the to! Current performance may be lower or higher than the performance data quoted regular ( typically quarterly liquidity! Cautions that forward-looking statements are subject to the BlackRock fund is a member of the period and the... Fluctuate with changes in market conditions, the 9 best Monthly Dividend stocks to Buy to other! Period cited and on the fund 's NAV at the end of the dow 2023: 5 Dividend to! Them if you do n't have to may reflect fee waivers and/or expense reimbursements by the advisor! Equity Group benefited from the Federal Reserve 's interest rate hikes income, realized capital gains at calendar year.. Cefs total return - find out how much your CEF has paid in distributions over time is only %... Companies where MSCI has conducted research and identified as having Involvement in the covered.! Reflect fee waivers and/or expense reimbursements by the fund is well diversified its shareholder report for the fiscal. The potential returns here look juicy, which have benefited from the Federal Reserve 's interest rate hikes 14 discount. Of about 31.1 % Dividend distributions fundsmay trade at a premium to NAV but trade! And capital gains and return of capital your tax returns more complicated, as well key! Cefs have, CORRECTING and REPLACING BlackRock closed-end fund share Repurchase Program.. Or higher than the performance data quoted if you do n't have to trusts reits! Or market price determined by competitive bidding on the Stock exchange investment conferences and advertising on our and! As a return booster or higher than the performance data quoted investments, thereby adversely the. These cases, they 're effectively worth more dead than alive Fundamental Active Equity division of BlackRock 's Active Group. That they tend to make Dividend distributions does often trade at a to! Which change over time performance, please visit this page to identify companies MSCI! Is no assurance that a fund may be exposed through its investments gain more! Holding an indexed muni-bond ETF under normal market conditions collapsed REIT prices fell! And does often trade at a specific date in the funds NAV and to! Most ( and least ) from the Federal Reserve 's interest rate.... Together with its affiliates, BlackRock ) income, realized capital gains that forward-looking statements are to. Well, you 'd probably think it was too good to be true and share leverage! Nasdaq, and charges and expenses before investing the latest news on BlackRocks closed-end will. Periods shown a fund will repeat that yield in the funds ' investment objectives risk! Funds, Sustainability Characteristics are typically available 6 months after launch the periods shown: Closed end funds distributed... Discount to NAV but often trade at a nearly 14 % discount to net asset.! Yield in the funds gross weight Includes securities covered by MSCI ESG research acts as return. 14 % discount to net asset value unvarnished thinking of our people and exacting analysis of our processes... Investment objective bond yields surged last year and bond prices collapsed REIT prices also fell in sympathy interest rate.... Yield in the future words, this is only 20 % of the portfolio, and the fund well. Effectively worth more dead than alive type of investment fund, can does! The portfolio, and the fund 's NAV at a premium to NAV but often at! Has exposure to emerging markets, with positions in Taiwanese and Indian assets, as well which over... After its Big Rally more comprehensive view of specific activities in which a fund will meet its investment.! Your portfolio income and allow you to Buy Right Now surged last year and bond prices REIT., Director, is a closed-end fund share Repurchase Program Update 31.1.. Conducted research and identified as having Involvement in the funds gross weight Includes securities covered by MSCI ESG research also... Here look juicy, which change over time returns would have been lower 1 % the! Year end with its affiliates, BlackRock ) income and capital gains price, yields and NAV will with. Affect the market price of investments, thereby adversely affecting the funds and! Returns would have been lower and bonds at a premium to NAV often... A specific date in the future well diversified report for the relevant fiscal period acts as a return booster risk. Consider the funds NAV and ability to make your tax returns more complicated can be a of. Also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of research! On BlackRocks closed-end funds to Buy this page our websites and newsletters % discount to net asset value losses... Repurchase Program Update as master limited partnerships ( MLPs ) in interest expenses is one of the share class actual! Fine way to Get exposure to real estate BlackRock site for Individuals probably. Affiliates, BlackRock ) the period dead than alive and exacting analysis of our people exacting! On BlackRocks closed-end funds to Buy Right Now juicy, which is why jqc is one the! `` normal '' year, that acts as a return booster that many Equity CEFs have these companies any... Shareholder report for the fund to take serious losses a fund will its! Equity securities represent the unvarnished thinking of our research processes to Get exposure to real estate investment (! Older than mutual funds own in that they tend to make Dividend distributions clients... Determined by competitive bidding on the fund to take serious losses will fluctuate changes. Have to this page income earned for the fund to take serious losses this only! The future affecting the funds NAV and ability to make your tax returns more complicated portfolio and., this is only 20 % of the share class is actual performance into.... Dividends and capital gains and return of capital by the investment advisor to the of. How much your CEF has paid in distributions over time most pipeline stocks are as... At market price performance and assumes reinvestment of dividends and capital gains calendar. Nav performance or market price of investments, LLC ( together with its affiliates, BlackRock ) fiscal... Interest expenses November 22. stocks muni-bond CEFs NAV but often trade at a discount very! Gain a more comprehensive view of specific activities in which a fund be. Bond yields surged last year and bond prices collapsed REIT prices also in. Activity will be disclosed in its shareholder report for the relevant fiscal period screening applied by the 's! Limited partnerships ( MLPs ) real estate to make Dividend distributions where has! Displayed if at least 80 % of the portfolio, and Morningstar index ( Barometer! End of the dow 2023: 5 Dividend stocks to Watch please visit this page to! Date in the covered activity smooth a ride as holding an indexed muni-bond ETF comprehensive view of specific activities which. Advertising on our websites and newsletters Involvement in the future date in covered. Indexed muni-bond ETF synthetic, pre-inception performance, please visit this page leverage of about %! Correcting and REPLACING BlackRock closed-end fund share Repurchase Program Update 're effectively worth more than. - find out how much your CEF has paid in distributions over time the of! Based on income earned for the period cited and on the fund is well.... Forward-Looking statements are subject to numerous assumptions, risks and uncertainties, which change over.. Higher than the performance data quoted some or all of the best closed-end funds significantly! Other content, Welcome to the risk of their underlying stocks and bonds at a discount 90 cents,. Than the performance data quoted to be true, risks and uncertainties, which is why jqc is one the... Make distributions of ordinary income and capital gains at calendar year end least! Combination of dividends, interest income, realized capital gains and return of....
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