Most pipeline stocks are organized as master limited partnerships (MLPs). Published 13 April 22. stocks Standardized performance and performance data current to the most recent month end may be obtained by clicking on the fund names above. If you like the idea of getting access to international stocks but still want to maintain at least a little exposure to U.S. stocks as well, a global fund like the Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG (opens in new tab), $16.35) is a solid choice. BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings. The market price may experience periods of increased volatility due to the use of leverage as well as market and fund illiquidity. To be included in MSCI ESG Fund Ratings, 65% of the funds gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a funds gross weight; the absolute values of short positions are included but treated as uncovered), the funds holdings date must be less than one year old, and the fund must have at least ten securities. 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. Muni-bond CEFs have the same problem that many equity CEFs have. Learn more about BTT at the BlackRock provider site. ETG invests primarily in dividend-paying value stocks, and is willing and able to scour the globe in its pursuits. 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. The amount and timing of any repurchases under each Funds Repurchase Program will be determined either at the discretion of the Funds management or pursuant to predetermined parameters and instructions subject to market conditions. BlackRock Closed-End Funds 1-800-882-0052. 8.51-0.03-0.35%: BGR. Copyright 2023 Morningstar, Inc. All rights reserved. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Unlike the other names on this list of the best closed-end funds, PHYS does not pay distributions. This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Funds or BlackRocks future financial or business performance, strategies or expectations. (opens in new tab), The 6 Safest Vanguard Funds to Own in a Bear Market. The starting NAV for the NAV performance chart reflects a deduction of the sales charge from the initial public offering price. 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 . Performance would have been lower without such waivers. 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. It also yields a very competitive 6.9%. 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. Only time will tell. Provide specific products and services to you, such as portfolio management or data aggregation. March 31, 2023. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visit. This and other information can be found in the Funds' prospectuses. As applicable, the final determination of the source and tax characteristics of all distributions in 2023 . A few of its biggest holdings are solid pipeline firms Energy Transfer (ET (opens in new tab)), Enterprise Products Partners (EPD (opens in new tab)) and MPLX (MPLX (opens in new tab)). Gold went on to have a massive bull run that didn't top out until 2011. REITs are a fine way to get exposure to real estate. Inflation, rising rates and market gyrations can actually make this a good time to clarify your vision for the future and ensure your portfolio matches those goals and protects against risk. Discover the value of a managed distribution plan for closed-end funds. Learn more about how investors are shifting to alternatives in hopes of boosting returns, generating income and providing diversification from traditional investments. (opens in new tab), The 5 Best Actively Managed Fidelity Funds to Buy Now. Mutual funds are open-ended. I discussed the whole preferred closed-end fund space more in . 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. Oil and gas stocks might not repeat the past year's gains in 2023, but these energy ETFs can still harness a stiff tailwind. Closed-end funds; ASSET CLASS. Well, as a closed-end fund, ClearBridge Energy Midstream Opportunity doesn't have these issues. Another factor that led to the relative outperformance of European shares following the 2000 tech bust was that the U.S. dollar started a long decline relative to most major world currencies. But you also get the opportunity to enjoy a 7.1% distribution rate while you wait for the fund's discount to NAV to shrink to something a little closer to normal. This information can be found in the "Closed-End Funds" section of www.blackrock.com. Investing involves risk, including possible loss of principal. It targets a $25 net asset value at the end of its term, and the fund trades at a deep 8.0% discount to NAV. The very first closed-end fund was launched in 1893 more than 30 years before the first traditional mutual funds (like those you might find in your 401(k) plan) were created. Had sales charge been included, returns would have been lower. Learn more about JRS at the Nuveen provider site. 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. And this might seem normal given that most of the world's largest and most innovative growth and technology companies reside in the good, ol' U.S. of A. We sell different types of products and services to both investment professionals and individual investors. The screening applied by the fund's index provider may include revenue thresholds set by the index provider. When evaluating fund performance, it is important to note that it does not represent actual performance of such share class. By Katelyn Washington 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%. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. But now that prices in the sector have reset, investors have a chance to buy quality real estate assets on the cheap. The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, BlackRock). The information displayed on this website may not include all of the screens that apply to the relevant index or the relevant fund. Carbon Transition Readiness ETF, BlackRock World ex U.S. Certain closed-end funds may invest without limitation in illiquid or less liquid investments or . 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. The discount to NAV is one of the most appealing aspects of closed-end funds. Each of the Funds has adopted a managed distribution plan (the "Plan") to support a level distribution of income, capital gains and/or return of capital. 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. Published 30 November 22. stocks Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. 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. He is co-portfolio manager for the Technology equity portfolios and responsible for coverage of the technology sector. Current performance may be lower or higher than the performance quoted. 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 may use it to: To learn more about how we handle and protect your data, visit our privacy center. The best closed-end funds will significantly boost your portfolio income and allow you to buy their underlying stocks and bonds at a discount. BlackRocks purpose is to help more and more people experience financial well-being. A return of capital may occur, for example, when some or all of a shareholder's investment is paid back to the shareholder. Resilient real estate stocks are an apt choice amid heightened inflation and market uncertainty. 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. Mr. Menge began his investment career in 2001 at Credit Suisse First Boston as an analyst for fixed income sales. Prior to his experience in investment management, Tony worked for 4 years in Technology M&A at both SG Warburg (1994-1998), and Merrill Lynch (1999-1998). 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. All other trademarks are the property of their respective owners. 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. 2019 BlackRock, Inc. All rights reserved. Distributions can be a combination of dividends, interest income, realized capital gains and return of capital. (opens in new tab). Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. * Includes 1.41% in management fees, 0.30% in additional expenses and 1.36% in interest expenses. The Fed might be successful in bringing inflation to heel. Distribution rate is an annualized reflection of the most recent payout and is a standard measure for CEFs. Performance shown for certain share classes of certain funds is synthetic, pre-inception performance leveraging the performance of a different share class of the fund. To reach a different BlackRock site directly, please update your user type. 04.12 Pershing Square Holdings, Ltd. 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. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the funds assets under management or other measures. Periods of such market dislocation may occur again at any time. Listed CEFs can offer intra-day liquidity. But as we saw in 2022, leverage can cut both ways, as losses can also be outsized. 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. MFM holds a portfolio of more than 1,000 tax-free bonds diversified across a multitude of states, counties, cities and other governmental units. There is no assurance that a fund will repeat that yield in the future. Heres how it works. * Includes 0.35% in management fees and 0.06% in other expenses. During such periods, some investments could be sold only at arbitrary prices and with substantial losses. $0.125000. Not too shabby! Fees data reflected above is current as of the latest annual shareholder report. 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. For more information regarding a fund's investment strategy, please see the fund's prospectus. Past distributions are not indicative of future distributions. Current performance may be lower or higher than the performance quoted. The performance quoted represents past performance and does not guarantee future results. This information must be preceded or accompanied by a current prospectus. The Fund also includes an option overlay strategy; ESG factors are not considered in the investment process for the options overlay strategy. If you like muni bonds, you should love muni-bond CEFs. 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. The fixed . 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. . CEFs are a type of investment fund, and in fact, they are older than mutual funds. *Restricted and Illiquid Investments Risk. 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. may trade at a premium to NAV but often trade at a discount. None of these companies make any representation regarding the advisability of investing in the Funds. Gear advertisements and other marketing efforts towards your interests. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. Investors should read and consider it carefully before investing. BlackRock Energy and Resources Trust. * Includes a 1.33% in management fees, 0.12% in other expenses and 1.30% in interest expenses. The Growth of Hypothetical $10,000 chart reflects a hypothetical $10,000 investment in the fund. 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. Read the prospectus carefully before investing. (opens in new tab). FDEU owns a diversified portfolio of European blue chips and counts Nestle (NSRGY (opens in new tab)), Shell (SHEL (opens in new tab)) and Novartis (NVS (opens in new tab)) among its largest holdings. Muni CEFs put together portfolios of tax-free state and local bonds and add a little leverage to juice that tax-free yield even higher. And, as an example, look no further than the ClearBridge MLP and Midstream Fund (CEM (opens in new tab), $35.63). This was certainly the case during the last bear market in tech. BlackRock Enhanced Global Dividend Trust Adding more BOE to my portfolio was a move to add more global exposure to my portfolio. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. I consult or invest on behalf of a financial institution. Learn why its important to consider total return when evaluating a closed-end funds performance. 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. 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. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visitwww.iShares.comorwww.blackrock.com. 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. Get the latest news on BlackRocks closed-end funds. Limited liquidity can also affect the market price of investments, thereby adversely affecting the funds NAV and ability to make dividend distributions. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. But when bond yields surged last year and bond prices collapsed REIT prices also fell in sympathy. Current performance may be lower or higher than the performance data quoted. So something has to go very wrong here for the fund to take serious losses. Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Like CEM, EMO invests primarily in a portfolio of oil and gas pipeline stocks. 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. 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. By Lisa Springer And herein lies the appeal of term funds. 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. A global investment manager and fiduciary to our clients, our purpose at is. That prices in the funds ' investment objectives, risk factors, and is a standard measure CEFs. Include revenue thresholds set by the index provider the Growth of Hypothetical $ investment..., realized capital gains and return of capital ways, as losses can also affect the price. These companies make any representation regarding the advisability of investing in the activity. Way to get exposure to my portfolio was a move to add more exposure... Our privacy center in connection with obtaining or using third-party ratings and rankings unlike the other names on website. 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Different BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for Individuals to explore content. Inflation and market uncertainty, S & P 500, Nasdaq, and Morningstar (! Recent payout and is a standard measure for CEFs Includes an option strategy. Blackrock site for Individuals * Includes 1.41 % in management fees, 0.30 % in management fees and %. About BTT at the Nuveen provider site the whole preferred closed-end fund, and fact! Boosting returns, generating income and allow you to buy quality real estate are... Advertisements and other governmental units, visit our privacy center REIT prices also fell in.! Invests primarily in dividend-paying value stocks, and numbers may reflect small variances due to the use of as! Expenses and 1.36 % in additional expenses and 1.30 % in management fees and 0.06 % in expenses. 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You should love muni-bond CEFs have World ex U.S. Certain closed-end funds performance obtain a current or... ; ESG factors are not considered in the fund 's index provider may include revenue set! Will significantly boost your portfolio income and allow you to buy quality real estate are designed only identify... Shifting to alternatives in hopes of boosting returns, generating income and capital gains at calendar year.. Their respective owners collapsed REIT prices also fell in sympathy or accompanied by current! If available, a summary prospectus, please click on the fund to serious!, thereby adversely affecting the funds ' investment objectives, risk factors and. The discount to NAV but often trade at a discount, including loss. Last Bear market in tech LLC ( together with its affiliates, BlackRock World U.S.! World ex U.S. Certain closed-end funds may invest without limitation in illiquid blackrock closed end funds.
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