BlackRock
Based in New York, BlackRock is one of the largest fixed-income managers with more than $1 trillion in assets under management through mutual funds and money-market funds. After merging with Merrill Lynch Investment Managers in 2006, Merrill Lynch now holds 49% of the company while Pittsburgh-based PNC controls 34% of BlackRock. Operating in 60 countries, BlackRock offers mutual funds, closed-end funds, separately managed accounts and alternative investments.
BlackRock Reviews
jellersf said 7 months ago
Be aware that many of BlackRock closed end muni funds are leveraged.
In 2008 I purchased $50,000 of a BlackRock Califonria Muni which held bonds maturing in 2018 for a share price of $15.00 and paying 5% yield tax free. When the credit crunch hit in late 2008 the value of the fund shares dropped quickly due to the fact than much of the portfolio was leveraged. I sold at $10.60 a share and lost 1/3 of my investment. The fund bottomed out at $9.02 a share. So read the fine print and watch out for the "leveraged".
Rate and Review BlackRock
Expert Partners
Top Members This Week
-
181
-
129
-
110
-
94
-
87