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Overview

BlackRock's Multi-Sector Income Trust is a new fixed income (FI) closed end fund (CEF) with a flexible mandate to invest in a wide range of bond sectors. The vehicle was IPO'd a few months before 2013's bond sell off and there have been fears of unhealthy return of capital (ROC); these two factors have combined so that shares change hands at a considerable discount. The fund's adviser, BlackRock, is one of the larger sponsors of closed end funds, across asset classes and investment objectives - and so far management has been responsible stewards at BIT. The large discount to net asset value (NAV) combined with strong earnings that exceed the current distribution, present one of the better opportunities...

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