BlackRock Inc. has recently launched their BlackRock Floating Rate Income Trust, which operates as a close-ended fixed income mutual fund. The fund, which is administered by BlackRock Advisors, LLC and BlackRock Financial Management, Inc., concentrates on the fixed income markets worldwide, particularly in the United States. The company utilizes a diverse approach by investing in bonds from companies spanning various sectors. The average effective duration of the portfolio is approximately 1.5 years and primarily consists of corporate bonds. The trust was previously named BlackRock Global Floating Rate Income Trust and was established on August 30, 2004, domiciled in the United States.