|Expense Ratio (net)||1.82%|
|Morningstar Risk Rating||★★|
|Last Cap Gain||0.00|
|Inception Date||Oct 21, 1994|
|Average for Category||N/A|
BlackRock Inc is making leadership changes to its biggest mutual fund. The world's largest asset manager is replacing one of the top leaders on its $42 billion BlackRock Global Allocation Fund and adding three new portfolio managers, a move that comes as the fund's performance has lagged its rivals. Aldo Roldan, a managing director and portfolio manager, is stepping down as portfolio manager on the fund because he wanted to reduce his day-to-day responsibilities, a BlackRock spokeswoman said Wednesday.
BlackRock Inc is replacing one of the leaders of its nearly $42 billion BlackRock Global Allocation Fund and adding three new portfolio managers. Aldo Roldan, a managing director and portfolio manager, is stepping down from helping manage the company's largest mutual fund because he wanted to reduce his day-to-day responsibilities, a BlackRock spokeswoman said. Roldan will work on the Global Allocation team as a "senior investor," focusing on research and analysis, she said.
Managers of BlackRock Inc's largest mutual fund are warning that U.S. stocks may "disappoint" investors, a company note showed on Wednesday, arguing for a shift to Japanese stocks as one of the few markets offering a bargain. Nearly 10 percent of the $45 billion BlackRock Global Allocation Fund was made up of Japanese stocks, as of July 29, about double the 5 percent held by its benchmark, a BlackRock website showed.