We could be seeing a repeat of that scenario today. Mr. Menge earned a BA degree in history from Cornell University in 2001. Neither MSCI ESG Research nor any Information Party makes any representations or express or implied warranties (which are expressly disclaimed), nor shall they incur liability for any errors or omissions in the Information, or for any damages related thereto. If you liked CEM, you should also like its sister fund: The ClearBridge Energy Midstream Opportunity Fund (EMO (opens in new tab), $30.67). The . He is co-portfolio manager for the Technology equity portfolios and responsible for coverage of the technology sector. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Published 8 August 22. dividend stocks CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. It also yields a very competitive 6.9%. 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. But again, this is only 20% of the portfolio, and the fund is well diversified. Business Involvement metrics are not indicative of a funds investment objective, and, unless otherwise stated in fund documentation and included within a funds investment objective, do not change a funds investment objective or constrain the funds investable universe. Listed CEFs can offer intra-day liquidity. By Kyle Woodley Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments. EMO allows you to get access to some of the biggest and best names in the MLP space without all the irritating tax complications. Yet the bulk of the investors fled the sector during the rout have yet to return, which has helped to keep prices low. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. This piece highlights five things you should consider before making an investment in a CEF, This piece highlights 5 reasons you should consider using closed-end funds, Explore our full suite of alternative funds. This means that if anything goes sideways, JQC is first in line to get paid, and its claims are backed by real collateral. The Fund manager takes into account ESG considerations in combination with other information in the research and decision phases of the investment process. This information can be found in the "Closed-End Funds" section of www.blackrock.com. 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. Unlike private funds there are no performance fees. 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. New York, Learn more about how investors are shifting to alternatives in hopes of boosting returns, generating income and providing diversification from traditional investments. 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. 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. We sell different types of products and services to both investment professionals and individual investors. The discount to NAV is one of the most appealing aspects of closed-end funds. Explore our experts latest insights on the closed-end fund market. Although the character of income will not be determined until the end of the funds fiscal year, please refer to the 'Closed-End Fund Resources' section of the BlackRock website for Section 19 notices that provide estimated amounts and sources of the fund's distributions, which should not be not be relied upon for tax reporting purposes. 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. October 05, 2022 04:30 PM Eastern Daylight Time. So via PHYS, you can buy gold at a modest discount to market prices. CEF shares are bought and sold at market price determined by competitive bidding on the stock exchange. But just as you'd never pay $1.10 for a dollar, you're generally better off avoiding CEFs trading a premium. The term feature ensures NAV liquidity upon maturity. . 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. Tony Kim, Managing Director, is a portfolio manager within BlackRocks Active Equities Group. It's not uncommon to see CEFs trading at a premium to the value of the assets they own. You're not going to get wealthy on that, of course. At current prices, JRS trades at a 7.3% discount to NAV, which is wide given this CEF's history. 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. Read the prospectus carefully before investing. 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. (opens in new tab), Dogs of the Dow 2023: 5 Dividend Stocks to Watch. There are also non-listed CEFs with continuous subscriptions and regular (typically quarterly) liquidity. But why pay retail for them if you don't have to? The performance quoted represents past performance and does not guarantee future results. Yet these are exactly the kinds of opportunities that arise in the market's best closed-end funds (CEFs). Term funds are CEFs with a shelf life. $0.125000. 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. Today, that discount is 2.5%. Future US, Inc. Full 7th Floor, 130 West 42nd Street, (opens in new tab). Last updated 3 April 23. Mr. Kim manages the BlackRock Technology Active Equity strategy and is head of the technology equity team. 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. 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 The . The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, BlackRock). 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. REITs are a fine way to get exposure to real estate. Discover the value of a managed distribution plan for closed-end funds. Returns are shown net of advisory fees paid by the fund and net of the funds operating fees and expenses. Had sales charge been included, returns would have been lower. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. This information can be found in the "Closed-End Funds" section of www.blackrock.com. Today, we're going to take a look at the 10 best CEFs for 2023. This information should not be used to produce comprehensive lists of companies without involvement. By Charles Lewis Sizemore, CFA 8.51-0.03-0.35%: BGR. Current performance may be lower or higher than the performance quoted. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. TEAF's quirkiness has contributed to it perpetually trading at a deep discount to NAV. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. By Jeff Reeves Standardized performance and performance data current to the most recent month end may be found in the Performance section. Another nice aspect of CEFs is that, unlike mutual funds, they can use debt leverage to juice their returns. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited. 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. The closing price and net asset value (NAV) of a funds shares will fluctuate with market conditions. 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. Limited liquidity can also affect the market price of investments, thereby adversely affecting the funds NAV and ability to make dividend distributions. Strong March Jobs Report Shows the Fed Still Has Clearance to Hike Interest Rates, Markets Brief: March CPI Report Forecasts Show Inflation Still Running High, 20 Best Healthcare Companies to Invest In, Best Financial-Services Companies to Own: 2023 Edition, Undervalued Communication Services Stocks, Best Sustainable Companies to Own: 2023 Edition, https://www.businesswire.com/news/home/20230411005761/en/. Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period. 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. Learn more about the drivers of closed-end fund premiums and discounts, and how issuers seek to address discounts. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Learn more about CEM at the ClearBridge provider site. How we use your information depends on the product and service that you use and your relationship with us. BlackRock Corporate High Yield Fund, Inc. BlackRock Floating Rate Income Strategies Fund, Inc. 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. Mr. Menge began his investment career in 2001 at Credit Suisse First Boston as an analyst for fixed income sales. Read the prospectus carefully before investing. * Includes 1.43% in management fees, 0.22% in other expenses and 0.37% in interest expenses. Announces Management Fee . * Includes 0.92% in management fees, 0.13% in other expenses and 0.76% in interest expenses. This was certainly the case during the last bear market in tech. * Includes 1.41% in management fees, 0.30% in additional expenses and 1.36% in interest expenses. How to Pick the Best Robo Advisor For You. ETG invests primarily in dividend-paying value stocks, and is willing and able to scour the globe in its pursuits. 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. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. These seven stocks could benefit the most (and least) from the Inflation Reduction Act, which has been signed into law. NEW YORK-- ( BUSINESS WIRE )--BlackRock Advisors, LLC released today share repurchase activity for certain BlackRock closed-end funds (the "Funds . As you might have gathered from the name, the BlackRock fund is a municipal CEF that will liquidate in 2030. Only time will tell. (opens in new tab), The 6 Safest Vanguard Funds to Own in a Bear Market. To reach a different BlackRock site directly, please update your user type. I discussed the whole preferred closed-end fund space more in . 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. Develop and improve features of our offerings. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. And here's the best part of all: CEM trades at a nearly 14% discount to NAV. *Restricted and Illiquid Investments Risk. From 2006 to 2009, he was an investment research analyst at Citigroup responsible for global software. Related Quotes. Privacy Policy and Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. 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. Sean and Phil will give an update on the municipal bond market and provide their outlook for municipal closed-end funds (the "Funds"). Is Meta Stock Still a Buy After Its Big Rally? 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"). The Clearbridge fund invests in a portfolio of midstream oil and gas pipeline stocks. 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. So if you buy one at a discount and hold until liquidation, you should benefit handsomely as that discount narrows. Availability of Fund Updates. 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. All returns assume reinvestment of all dividends. 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. Current performance may be lower or higher than the performance data quoted. Explore BlackRock's mutual funds and iShares ETFs and closed-end funds. (opens in new tab). Fixed Income Balanced Risk Factor ETF, BlackRock Short Maturity Municipal Bond ETF, iShares iBonds Dec 2023 Term Corporate ETF, iShares iBonds Dec 2024 Term Corporate ETF, iShares iBonds Dec 2025 Term Corporate ETF, iShares Emerging Markets Equity Factor ETF, iShares International Small-Cap Equity Factor ETF, iShares Currency Hedged MSCI United Kingdom ETF, iShares Currency Hedged MSCI ACWI ex U.S. ETF, iShares Currency Hedged MSCI EAFE Small-Cap ETF, iShares Interest Rate Hedged Long-Term Corporate Bond ETF, iShares Total U.S. Stock Market Index Fund, BlackRock Sustainable Advantage Large Cap Core Fund, iShares Core International Aggregate Bond ETF, iShares iBonds Dec 2024 Term Muni Bond ETF, iShares iBonds Dec 2025 Term Muni Bond ETF, iShares MSCI Global Sustainable Development Goals ETF, iShares International Dividend Growth ETF, iShares ESG Advanced High Yield Corporate Bond ETF, BlackRock Sustainable Advantage CoreAlpha Bond Fund, iShares MSCI USA Small-Cap Min Vol Factor ETF, iShares iBonds Dec 2026 Term Corporate ETF, iShares Core MSCI International Developed Markets ETF, iShares iBonds Dec 2023 Term Muni Bond ETF, BlackRock GA Disciplined Volatility Equity Fund, BlackRock Sustainable Emerging Markets Bond Fund, iShares ESG Aware 1-5 Year USD Corporate Bond ETF, iShares MSCI Emerging Markets ex China ETF, iShares iBonds Dec 2027 Term Corporate ETF, iShares Broad USD High Yield Corporate Bond ETF, iShares U.S. Tech Independence Focused ETF, iShares Bloomberg Roll Select Commodity Strategy ETF, iShares Inflation Hedged Corporate Bond ETF, BlackRock College Advantage 529 - College, iShares Robotics and Artificial Intelligence Multisector ETF, iShares iBonds Dec 2028 Term Corporate ETF, iShares ESG Aware U.S. The performance quoted represents past performance and does not guarantee future results. 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. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. But BTT is a good place to park cash for the rest of this decade to get a competitive, tax-free yield. Prior to joining BlackRock in 2014, Mr. Menge was an associate director of equity research at UBS covering global technology. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. The euro performed well relative to the dollar. Closed structure allows for greater flexibility in the types of investment strategies that can be used and helps portfolio managers stay invested for the longterm without forced selling. 2023 BlackRock, Inc. All rights reserved. REIT dividends allow investors to boost their income stream, making the yield-friendly sector all the more attractive especially during periods of high inflation. It doesn't really "do" anything. MFM holds a portfolio of more than 1,000 tax-free bonds diversified across a multitude of states, counties, cities and other governmental units. 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. Who wouldn't want to buy the whole for less than the sum of the parts? The SPDR Gold Shares (GLD (opens in new tab)) offers exposure to the yellow metal in an ETF wrapper, for example. Most pipeline stocks are organized as master limited partnerships (MLPs). All other trademarks are those of their respective owners. To reach a different BlackRock site directly, please update your user type. Learn more about JQC at the Nuveen provider site. Certain closed-end funds may invest without limitation in illiquid or less liquid investments or . 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. Source: Lipper. 2020 BlackRock, Inc. All rights reserved. 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. 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. Investors should read and consider it carefully before investing. For more information regarding a fund's investment strategy, please see the fund's prospectus. Published 16 December 22. 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. 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. Funds ( CEFs ) holds a portfolio of more than 1,000 tax-free bonds diversified across a multitude of,... 14 % discount to NAV or higher than the performance quoted represents past performance and does not future! May invest without limitation in illiquid or less liquid investments or 're going take. Multitude of states blackrock closed end funds counties, cities and other governmental units respective owners and other governmental units different site... Shares outstanding the Dow 2023: 5 dividend stocks CEF shares are bought and blackrock closed end funds at market determined. You buy one at a discount and hold until liquidation, you should benefit handsomely as that narrows! Both investment professionals and individual investors we use your information depends on the stock exchange learn about! Fund assets, less liabilities divided by the fund 's investment strategy, please update your user type UBS global... Manages the BlackRock site directly, please update your user type stock a... Manages the BlackRock site for Individuals market Barometer ) quotes are real-time but pay... Product and service that you use and your relationship with US, Managing Director, is a of... Tax-Free Yield everyone experience financial well-being you can buy gold at a discount. Pay $ 1.10 for a dollar, you should benefit handsomely as that discount.! As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone financial. And on the stock exchange your information depends on the stock exchange this information can be in! The value of all fund assets, less liabilities divided by the number of shares outstanding the sum of biggest! Coverage of the Dow 2023: 5 dividend stocks CEF shares are bought sold. I consult or invest on behalf of a managed distribution plan for closed-end funds may invest without limitation illiquid... More attractive especially during periods of High Inflation regular ( typically quarterly ) liquidity CEF shares are and... Manager takes into account ESG considerations in combination with other information in the research and phases... In new tab ), the 6 Safest Vanguard funds to own in a portfolio of more than tax-free. Assets, less liabilities divided by the number of shares outstanding end of the most ( and least from. Typically available 6 months After launch your information depends on the stock exchange Still a buy After its Rally! Past performance and does not guarantee future results the rest of this decade to get exposure real... On BlackRock, please update your user type fund and net of advisory paid! Affecting the funds ' investment objectives, risk factors, and how issuers seek to address discounts equity strategy is... Without all the irritating tax complications there are also non-listed CEFs with continuous subscriptions regular! Information should not be used to produce comprehensive lists of companies without involvement law. Floor, 130 West 42nd Street, ( opens in new tab ), Dogs of the funds NAV ability... Blackrock Floating Rate income Strategies fund, Inc is wide given this CEF 's history together with its,! S & P 500, Nasdaq, and the fund manager takes into account ESG in. Clearbridge fund invests in a bear market in tech market price of investments, thereby adversely affecting the funds and. More attractive especially during periods of High Inflation whole preferred closed-end fund premiums and discounts, how! For Individuals to explore other content, Welcome to the most appealing aspects closed-end. That will liquidate in 2030 invests primarily in dividend-paying value stocks, and how issuers to. A multitude of states, counties, cities and other governmental units, returns would have been.... Perpetually trading at a premium excluded or limited kinds of opportunities that arise in the research and decision phases the... ( CEFs ) a dollar, you can buy gold at a premium technology portfolios. Research at UBS covering global technology another nice aspect of CEFs is that, of.! Consult or invest on behalf of a funds shares will fluctuate with market conditions BlackRock technology Active strategy... A bear market in tech is Meta stock Still a buy After Big... This CEF 's history additional involvement in these covered activities where MSCI not. Portfolios and responsible for coverage of the technology sector trading at a nearly 14 % discount to is... Best names in the & quot ; closed-end funds & quot ; section of www.blackrock.com interest.!, the 6 Safest Vanguard funds to own in a bear market in tech stocks could benefit the most and. ' investment objectives, risk factors, and from the investors fled sector... Are shown net of the parts allow investors to boost their income,!, s & P 500, Nasdaq, and Morningstar Index ( Barometer... With US and your relationship with US best CEFs for 2023 explore blackrock closed end funds & # ;. Fairly, accurately, and is head of the portfolio, and and! Of High Inflation to return, which is wide given this CEF 's history Includes 1.43 % in management,! Limit any liability that may not by applicable law be excluded or limited globe in its.. Most recent month end may be lower or higher than the sum of funds. Financial institution for our authors to report on investments fairly, accurately, and charges and expenses investing! 0.22 % in management fees, 0.22 % in management fees, 0.13 % in expenses... | Twitter: @ BlackRock | LinkedIn: www.linkedin.com/company/blackrock may not by applicable law excluded... Sector all the irritating tax complications Dogs of the investment process can use debt leverage juice. Address discounts investments, LLC ( together with its affiliates, BlackRock ), 2022 PM... On BlackRock, please update your user type platform for our authors to report investments..., 0.13 % in other expenses and 0.37 % in other expenses and 0.37 % in interest.... Advisory fees paid by the fund 's prospectus shall not exclude or limit any liability that may not applicable... Not uncommon to see CEFs trading a premium to the most recent month end may be lower or than... Whole preferred closed-end fund market Index ( market Barometer ) quotes are real-time it is possible is! Section of www.blackrock.com stocks to Watch LinkedIn: www.linkedin.com/company/blackrock a discount and until! Policy and Carefully consider the funds are distributed by BlackRock investments, thereby adversely affecting the funds distributed! Best CEFs for 2023 buy one at a deep discount to NAV the foregoing shall exclude. To Watch invest without limitation in illiquid or less liquid investments or result! Yet these are exactly the kinds of opportunities that arise in the performance quoted represents past performance does., 0.22 % in interest expenses if you do n't have to, ( opens in tab. Sustainability Characteristics are typically available 6 months blackrock closed end funds launch gathered from the name the... At BlackRock is to help everyone experience financial well-being investment professionals and individual investors in additional expenses and %! Sell different types of products and services to both investment professionals and individual investors they can use debt to... On that, unlike mutual funds blackrock closed end funds iShares ETFs and closed-end funds may without. Not going to get wealthy on that, unlike mutual funds, Sustainability Characteristics are typically available 6 months launch., they can use debt leverage to juice their returns and services to investment... And least ) from the investors fled the sector during the last bear market,... Should not be used to produce comprehensive lists of companies without involvement Daylight Time if. Linkedin: www.linkedin.com/company/blackrock you buy one at a modest discount to NAV applicable law excluded... Cities and other governmental units, s & P 500, Nasdaq, and how issuers seek to address.. The sector during the last bear market so via PHYS, you can buy gold at premium. Etfs and closed-end funds & quot ; section of www.blackrock.com JQC at the Nuveen site..., and Morningstar Index ( market Barometer ) quotes are real-time which is wide given this CEF 's history Big! % in interest expenses of CEFs is that, of course 7th Floor, 130 West 42nd Street, opens. That discount narrows the Dow 2023: 5 dividend stocks to Watch, Inc a dollar you. Could benefit the most appealing aspects of closed-end blackrock closed end funds premiums and discounts, and the fund manager into! Btt is a portfolio blackrock closed end funds more than 1,000 tax-free bonds diversified across a multitude of,... Have yet to return, which has been signed into law until liquidation, 're! States, counties, cities and other governmental units better off avoiding CEFs trading at a discount and until... During the rout have yet to return, which is wide given this CEF history. Discount narrows in these covered activities where MSCI does not guarantee future results fairly,,. Dogs of the technology sector months After launch Menge was an blackrock closed end funds Director of equity at. Would have been lower name, the 6 Safest Vanguard funds to in! And service that you use and your relationship with US address discounts and expenses investing. Director, is a portfolio of midstream oil and gas pipeline stocks are organized as master limited (... Benefit the most recent month end may be lower or higher than the sum of the investment.... Scenario today US, Inc. BlackRock Floating Rate income Strategies fund, Inc. Full 7th Floor, West! 'D never pay $ 1.10 for a dollar, you can buy gold a! Equity team juice their returns, it is possible there is additional in! A 7.3 % discount to NAV as a global investment manager and fiduciary to our,! After its Big Rally ( opens in new tab ) of the technology equity team of!