Important Risks: The fund is actively managed and its characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. Fund of funds is subject to the risks associated with the underlying BlackRock funds in which it invests. Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions. International investing involves special risks including, but not limited to currency fluctuations, illiquidity and volatility. These risks may be heightened for investments in emerging markets. Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. Asset alloca- tion strategies do not assure profit and do not protect against loss. Non-diversification of investments means that more assets are potentially invested in fewer securities than if investments were diversified, so risk is increased because each investment has a greater effect on perfor- mance. The fund may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility. Non-investment-grade debt securities(high-yield/junk bonds) may be subject to greater market fluctuations, risk of default or loss of income and principal than higher-rated securities. Covered call risk is the risk that the issuer will forgo any profit from increases in the market value of the security covering the call option but retain the risk of loss if the security declines in value. A number of factors may influence the option holder’s decision to exercise the option, including the value of the security, price volatility, dividend yield and interest rates. To the extent that these factors increase the value of the call option, the option holder is more likely to exercise the option, which may negatively affect the fund.
The opinions expressed are those of the fund’s portfolio management team as of June 30, 2024, and may change as subsequent conditions vary. Information and opinions are derived from proprietary and nonproprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy.
BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings.
1 Fund inception: 11/3/14. 2 Blended benchmark is 70% MSCI World/30% Bloomgberg U.S. Aggregate Bond Index. Morgan Stanley Capital International World Index measures equity performance of 23 developed markets. Bloomberg U.S. Aggregate Bond Index tracks investment-grade corporate bonds(BBB or better), mortgages and U.S. Treasury and government
agency issues with at least 1 year to maturity.
You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the fund and are available, along with information on other BlackRock funds, by calling 800-882-0052 or from your financial professional. The prospectus should be read carefully before investing.
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Prepared by BlackRock Investments, LLC, member FINRA.
Not FDIC Insured• May Lose Value• No Bank Guarantee
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