The fund is managed by Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock since 2010, who oversees approximately $2.7 trillion in assets and was named 2023 Outstanding Portfolio Manager by Morningstar. Rieder was inducted into the Fixed Income Hall of Fame in 2013 and received Global Unconstrained Fixed Income Manager of the Year recognition in 2015 by Institutional Investor. He holds a BBA in Finance from Emory University (1983) and MBA from The Wharton School (1987). Prior to BlackRock, Rieder was President and CEO of R3 Capital Partners and spent 20 years at Lehman Brothers (1987-2008) in senior roles including Head of Global Principal Strategies. The current management team includes Chi Chen (Managing Director since October 2022), Sam Summers (Director since September 2025), Siddharth Mehta (Director since September 2025), and Russell Brownback (Managing Director since September 2025). This experienced team provides continuity and specialized expertise across fixed income markets.

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The fund seeks conservative long-term total returns by investing primarily in high-quality, traditional bonds while maintaining portfolio duration within +/- 20% of the Bloomberg U.S. Aggregate Bond Index benchmark. The strategy involves investing at least 80% of assets in investment-grade bonds including corporate bonds, U.S. government and agency securities, and mortgage-related securities. BlackRock's approach emphasizes active management through fundamental credit analysis, duration management, and yield curve positioning to generate consistent returns while managing downside risk. The fund employs a global opportunity set with ability to invest up to 25% in foreign issuers including emerging markets. Risk management is central to the philosophy with diversification across 2,000+ securities and conservative credit quality focus. The management team leverages BlackRock's 540 global fixed income research analysts and over 30 years of experience. The philosophy centers on 'making a little money a lot of times' through flexible, active approaches. Derivatives are used for both hedging and return enhancement within strict risk parameters.

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