There’s a new closed-end fund (CEF) on the market, and it comes from one of the biggest CEF issuers in the space: BlackRock.
It’s big—with $4.5 billion in assets under management. You can tell that straight from the ticker symbol: BIGZ. The fund’s full name: the BlackRock Innovation and Growth Trust (BIGZ).
So we know it’s got heft—and it’s got BlackRock’s deep bench of talent behind it (remember that BlackRock is the world’s biggest investment firm, with $7 trillion under management). But does BIGZ have a place in your portfolio? That’s the question we’re going to tackle today.
BIGZ got its start in March, and it’s currently trading flat from its inception and trailing the tech-heavy NASDAQ, which is the best benchmark for the tech-heavy BIGZ.… Read more