BlackRock Floating Rate Income Trust is a close ended fixed income mutual fund launched by BlackRoack Inc The fund is comanaged by BlackRock Advisors LLC and BlackRock Financial Management Inc It invests in the fixed income markets across the globe while focusing on the United States The fund invests in bonds of companies operating across diversified sectors It invests in corporate bonds with average effective duration of its portfolio will be no more than 15 years The fund was formerly known as BlackRock Global Floating Rate Income Trust BlackRock Floating Rate Income Trust was formed on August 30 2004 and is domiciled in the United States