Fund Evaluator:
BlackRock Multi-Asset Income Instl (BIICX)
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Fund Details
BlackRock Multi-Asset Income Instl Overview
BlackRock Multi-Asset Income Instl (BIICX) is an actively managed Allocation Global Moderately Conservative Allocation fund. BlackRock launched the fund in 2008.
The investment seeks to maximize current income with consideration for capital appreciation. The fund may invest up to 60% of its assets in equity securities and up to 100% of its assets in fixed income securities. In addition, it may invest in structured notes that provide exposure to covered call options or other types of financial instruments. The fund may also invest up to 15% of its assets in collateralized debt obligations (“CDOs”), including collateralized loan obligations (“CLOs”).
About BlackRock Multi-Asset Income Instl (BIICX)
There are 2 members of the management team with an average tenure of 7.63 years: Justin Christofel (2011), Louis Arranz (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and MSCI World NR USD index with a weighting of 100%. BlackRock Multi-Asset Income Instl has 6293 securities in its portfolio. The top 10 holdings constitute 49.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
BlackRock Multi-Asset Income Instl is part of the Allocation global asset class and is within the Allocation fund group. BlackRock Multi-Asset Income Instl has 37.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 30.1%. There is 13.7% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 85.9% (61.8% domestic bond, 24.1% foreign bond and 0.2% convertible bond). BlackRock Multi-Asset Income Instl has -30.3% of the portfolio in cash.
Assets Under Management
The fund has $5 billion in total assets, which is above the $304 million average for the Global Moderately Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BIICX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The BlackRock Multi-Asset Income Instl expense ratio is average compared to funds in the Global Moderately Conservative Allocation category. BlackRock Multi-Asset Income Instl has an expense ratio of 0.57%, which is 42% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. BlackRock Multi-Asset Income Instl has a portfolio turnover rate of 99%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Global Moderately Conservative Allocation category.
Recently, in the month of July 2026, BlackRock Multi-Asset Income Instl returned 0.2%, which earned it a grade of A, as the Global Moderately Conservative Allocation category had an average return of -0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
BlackRock Multi-Asset Income Instl has a trailing yield of 6.01%, which is above the 3.07% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
BlackRock Multi-Asset Income Instl Grades
Year to date, the fund has returned 4.3%, 0.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 9.4% over the past year (grade of F), 9.3% over the past three years (grade of B) and 4.5% per year over the past five years (grade of A) and 5.5% per year over the past 10 years (grade of C).
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BIICX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BIICX Return (NAV) | 0.2% | 1.4% | 9.4% | 9.3% | 4.5% | 5.5% |
| BIICX Grade | A | C | F | B | A | C |
| +/- Category | 0.7% | -0.1% | -1.5% | 0.2% | 0.6% | 0.0% |
| Global Moderately Conservative Allocation Avg | -0.5% | 1.5% | 10.9% | 9.1% | 3.9% | 5.4% |
| BIICX Tax Cost Ratio | na | na | 2.7% | 2.5% | 2.4% | 2.2% |
BIICX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BIICX Return (NAV) | 4.3% | 11.8% | 7.4% | 11.1% | -11.6% | 7.2% | 6.6% | 13.9% | -3.6% | 9.0% | 6.7% |
| BIICX Grade | D | C | B | B | A | D | D | D | A | F | B |
| +/- Category | -0.8% | 0.2% | 0.1% | 0.7% | 2.0% | -0.3% | -2.3% | -1.2% | 1.2% | -1.7% | 0.6% |
| Global Moderately Conservative Allocation Avg | 5.1% | 11.6% | 7.3% | 10.4% | -13.5% | 7.5% | 8.9% | 15.0% | -4.8% | 10.7% | 6.1% |
| Risk Measures | |
| Standard Deviation: | 6.4% |
| Total Risk Index: | 0.52 - Below Average |
| Category Risk Index: | 0.86 - Low |
| Category Risk Grade: | A (6% Rank) |
| Beta: | 0.66 |
| R-Squared: | 95% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 6.0% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $10394 Mil |
| Fund Total Assets: | $5,965 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 99% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.7 years | |||
| Average Tenure: 7.6 years | |||
| Managers (Year): Christofel Justin (2011), Arranz Louis (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 6293 |
| % in Top 10 Holdings: | 49.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 37.8% |
Portfolio Allocation |
|
| Domestic Stock: | 30.1% |
| Foreign Stock: | 13.7% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 61.8% |
| Foreign Bond: | 24.1% |
| Convertible Bond: | 0.2% |
| Other: | 0.0% |
| Cash: | -30.3% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | April 7, 2008 |
| Min. Initial Purchase: | $2,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.57% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | BlackRock Multi-Asset Income Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
