Multi Asset

BRIEX

BlackRock Retirement Income 2040 Fund

  • NAV as of Nov 20, 2024 $93.35
    52 WK: 87.71 - 95.16
  • 1 Day NAV Change as of Nov 20, 2024 0.00 (0.00%)
  • NAV Total Return as of Nov 20, 2024 YTD: 8.14%

Overview

Investment Approach

Seek to maximize current income while decumulating the Fund’s assets to a predefined target Fund net asset value per share, as a percentage of the Fund’s net asset value per share at inception, over the term of the Fund. The Fund seeks to deliver its investment objective over a term of 20 years, at the end of which the Fund seeks to deliver a target Fund net asset value per share of at least 25% of the Fund’s net asset value per share at inception.
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Performance

Performance

  1y 3y 5y 10y Incept.
Total Return (%) 17.83 2.91 - - 4.97
Benchmark (%) 21.66 3.92 - - 6.22
Morningstar Category Avg. (%) 27.13 3.32 - - -
Morningstar Ranking 202/203 190/194 - - -
Morningstar Quartile 4 4 - - -
Lipper Ranking 457/547 350/534 - - -
Lipper Quartile 4 3 - - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
Total Return (%) 9.26 1.42 5.61 17.83 8.99 - - 22.39
Benchmark (%) 11.49 1.59 5.78 21.66 12.23 - - 28.59
Morningstar Category Avg. (%) 12.10 -2.21 1.58 27.13 17.50 - - -
  2019 2020 2021 2022 2023
Total Return (%) - - 6.88 -11.59 10.84
Benchmark (%) - - 9.69 -15.33 14.43
Morningstar Category Avg. (%) - - 15.47 -17.32 17.69

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
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Key Facts

Key Facts

Size of Fund (Millions)
as of Nov 20, 2024
$4.7 M
Share Class launch date
Jul 31, 2020
Benchmark Index
50% MSCI World Index/50% Bloomberg U.S. Aggregate Bond Index (USD)
Morningstar Category
Moderately Conservative Allocation
CUSIP
09257E456
Open to New Investors
Yes
Size of Class (Millions)
as of Nov 20, 2024
$4.6 M
Asset Class
Multi Asset
Distribution Frequency
Monthly
Lipper Classification
Mixed-Asset Target Allocation Moderate
Max Offer Price
as of Nov 20, 2024
$93.35
Turnover Percent in the Annual Report
as of Dec 31, 2023
1%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 31, 2024
1
Modified Duration
as of Oct 31, 2024
2.66 yrs
Fund Standard Deviation (3y)
as of Oct 31, 2024
9.29
Unsubsidized 30-Day SEC Yield
as of Oct 31, 2024
2.88%
Weighted Avg Maturity
as of Oct 31, 2024
2.28 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Jun 30, 2022
-9.20%
30 Day SEC Yield
as of Oct 31, 2024
5.95%
R-Squared (3y)
as of Oct 31, 2024
95.04
Beta (3y)
as of Oct 31, 2024
0.78
Effective Duration
as of Oct 31, 2024
2.31 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
9.84%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s 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 fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Fees

Fees

as of current prospectus
Gross Expense Ratio 5.67%
Net Expense Ratio 0.75%

Net Expense Ratio excluding Investment Related Expenses is 0.25%

  • Acquired Fund Fees and Expenses 0.50%
  • Interest expense 0.00%

Ratings

Ratings

Lipper Leader

 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Oct 31, 2024 out of 531, 4,456, 531, 307 and 531 Funds, respectively in Lipper's Mixed-Asset Target Allocation Moderate classification.

Holdings

Holdings

as of Oct 31, 2024
Name Weight (%)
BLACKROCK MULTI-ASSET INCOME PORTF 97.68
Name Market Value Weight (%) Shares
Detailed Holdings and Analytics
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

Sorry, countries/regions are not available at this time.
as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Oct 31, 2024

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Michael Pensky, CFA
Michael Pensky, CFA
Portfolio Manager, Global Tactical Asset Allocation Team

   

Read More

Michael Pensky, CFA, Managing Director, is a portfolio manager on the Global Tactical Asset Allocation team within BlackRock's Multi-Asset Strategies & Solutions (MASS) group. The GTAA team manages multi-asset macro investment strategies including the Tactical Opportunities Fund and Sustainable Balanced Fund and custom mandates for institutional clients around the world.

 

Michael’s service with the firm dates back to 2012. Prior to joining BlackRock, he was a trading desk strategist in Morgan Stanley's Securitized Products Group and worked as a senior analyst in Foreign Exchange Sales & Trading at SunTrust Robinson Humphrey.

 

Michael earned BS degrees in mathematics and finance from the University of Florida and an MFE degree in financial engineering from the University of California, Berkeley.

 

Michael’s interests include top-down macro investing and multi-asset portfolio design & management. Outside of work, he enjoys playing musical instruments and running.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Justin Christofel, CFA
Justin Christofel, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

   

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Justin Christofel, CFA, CAIA, Managing Director, is co-head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions group. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund, Dynamic High Income Fund, Managed Income Fund, and Multi-Asset Income model portfolios.

 

Justin’s service with the firm dates back to 2007, where prior to the launch of the Income strategies, he managed customized asset allocation portfolios for institutional investors.

 

Justin earned his BA, with honors, in economics and mathematics from Yale University.

 

Justin’s interests include exploring the intersection of macroeconomic drivers and asset class returns and constructing portfolios that offer clients resilience in a variety of market regimes. Outside of work, he enjoys nearly any activity that allows him to be active, particularly Crossfit.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Alex Shingler, CFA
Alex Shingler, CFA
Co-Head of Income Investing, Multi-Asset Strategies & Solutions

     

Read More

Alex Shingler, CFA, Managing Director, is co-head of Income Investing for BlackRock’s Multi-Asset Strategies & Solutions group. He is a portfolio manager for a number of income strategies including the Multi-Asset Income Fund, Dynamic High Income Fund, Managed Income Fund, and Multi-Asset Income model portfolios.

 

Alex’s service with the firm dates back to 2009, where he joined as a portfolio manager and research analyst within BlackRock’s European and US credit businesses. Alex has spent his career investing across equity and fixed income markets and before joining BlackRock in London, Alex focused on special situation equity investments.

 

Alex earned his AB, summa cum laude, in philosophy from Princeton University.

 

Alex grew up in Montreal, Canada, and resides in the New York City area with his wife and daughter.

Portfolio Manager

Literature

Literature

 

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. 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 ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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USR-9694