|Expense Ratio (net)||0.79%|
|Morningstar Risk Rating||★★|
|Last Cap Gain||0.00|
|Inception Date||Feb 3, 1989|
|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 withheld support from two high-profile directors at Exxon Mobil Corp, securities filings show, a rare spat apparently driven by a board communications policy at the world's largest energy company. Because top fund managers like BlackRock rarely discuss their votes in detail, filings in late August to the U.S. Securities and Exchange Commission provide a rare window into the influential ballots they cast at springtime shareholder meetings like the one held by Exxon on May 25, one of this year's more contentious. BlackRock, which manages nearly $5 trillion, has been criticized for largely supporting company managers on matters like executive pay or electing directors.
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.