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Headquartered in New York City, BlackRock Inc. is one of the world’s premier asset management companies. Since its inception in 1988, the company has offered investment, advisory and risk management solutions in various asset classes like equity, fixed income, cash management, alternative investment, and real estate.
Blackrock employes more than 19,000 people and is present in more than 36 countries. The company’s client base includes corporate, public, and pension plans for unions, governments, insurance companies, third-party mutual funds, endowments, foundations, charities, corporations, official institutions, sovereign wealth funds, banks, financial professionals and individuals worldwide.
BlackRock was founded as a stand-alone investment management company that focuses on providing asset and risk management services to clients. As of Jun 30, 2023, the company manages around $9.4 trillion in assets under management and is the world’s largest asset manager.
Uncertainties over the Federal Reserve’s interest decision could impact corporate performance, which will impact stock prices, making it risky for investors. Blackrock mutual funds can be a preferred choice for investors who wish to diversify their portfolio but lack the necessary expertise to manage their own funds. The fund house has a reputation as a trusted partner and has long-term financial success.
We have thus selected three Blackrock mutual funds that have not only preserved investors’ wealth but also generated excellent returns amid such a volatile market condition. These funds have the majority of their investments in sectors such as technology, finance, retail and energy, which are expected to perform well in the long term.
These funds boast a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns, minimum initial investments within $5000, and carry a low expense ratio than the category average. Notably, mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
BlackRock Mid-Cap Value Fund MDRFX invests most of its assets along with borrowings, if any, in a diversified portfolio of equity securities of mid-cap companies. MDRFX advisors prefer to invest in dividend-paying securities.
Tony DeSpirito has been the lead manager of MDRFX since Jun 11, 2017. Most of the fund’s exposure was in companies like Leidos Holdings (2.4%), Cognizant Technologizes (2.3%) and Baxter International (2.3%) as of Jul 31, 2023.