BMPAX

About BMPAX

BlackRock U.S. Mortgage Fund Investor A Shares is an open‑end bond fund focused on the U.S. housing finance market. Its primary objective is total return with income, achieved by investing predominantly in mortgage‑backed and other mortgage‑related securities, including securities issued or guaranteed by U.S. government agencies and non‑agency issuers. The strategy typically keeps at least a substantial majority of assets in mortgage instruments, allowing exposure to prepayment dynamics, interest‑rate sensitivity, and credit characteristics unique to residential and commercial mortgages. Portfolio holdings may span agency pass‑throughs, mortgage credit, and short‑term U.S. Treasuries for liquidity and duration management, reflecting an actively managed approach to sector allocation and curve positioning within securitized markets. The fund serves investors seeking dedicated access to the mortgage segment of fixed income, offering diversification away from corporate credit while tapping a core component of U.S. fixed‑income issuance tied to the housing ecosystem and consumer finance. Periodic manager commentary highlights positioning across agency versus non‑agency cohorts and the impact of rate and spread moves on results, underscoring its role as a specialized securitized income allocation.