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Morningstar

BlackRock Tactical Opportunities Instl PBAIX

Morningstar Medalist Rating
Medalist Rating as of | See BlackRock Investment Hub
  • NAV / 1-Day Return 14.45  /  0.14 %
  • Total Assets 1.5 Bil
  • Adj. Expense Ratio
    0.850%
  • Expense Ratio 0.850%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category Macro Trading
  • Alt Style Correlation / Relative Volatility Low / Low
  • Min. Initial Investment 2,000,000
  • Status Open
  • TTM Yield 4.72%
  • Turnover 172%

USD | NAV as of Sep 22, 2023 | 1-Day Return as of Sep 22, 2023, 10:19 PM GMT+0

Morningstar’s Analysis PBAIX

Will PBAIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PBAIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PBAIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PBAIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Combination of discretionary and systematic.

Director Simon Scott

Simon Scott

Director

Summary

BlackRock Tactical Opportunities offers a compelling approach to macro investing, where a lot of moving parts come together to form a conservative offering that avoids the big singular bets seen in the macro trading Morningstar Category. It receives a Morningstar Analyst Rating of Bronze for all share classes but the most expensive, which is rated Neutral.

by Simon Scott
Rated on Published on

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Portfolio Holdings PBAIX

More PBAIX Holdings
  • Current Portfolio Date
  • Equity Holdings 776
  • Bond Holdings 47
  • Other Holdings 514
  • % Assets in Top 10 Holdings −53.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Cash Offset

61.60
924,589,613
—

Long Gilt Dec 23

9.33
140,114,465
Government

Euro Bund Future Sept 23

8.41
126,198,930
Government

EUR/USD Purchased

4.29
64,465,471
Derivative

Apple Inc

3.63
54,457,689
Technology

Microsoft Corp

3.48
52,182,014
Technology

CASH COLLATERAL USD XCITI

3.38
50,698,000
Cash and Equivalents

United States Treasury Bills

3.34
50,059,353
Government

United States Treasury Bills

3.32
49,853,014
Government

United States Treasury Bills

3.18
47,745,909
Government