Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investment and to the risk of investment in foreign securities. In addition, the Fund is subject to risks associated with debt securities, emerging markets, derivatives, geographic concentration, mid-cap securities, and small and emerging growth securities. BlackRock Advantage International Fund
Principal Risks of Investing. The Fund is subject to the risks of fixed income investments and U.S. Treasury obligations risk as well as the risks and special considerations associated with investing in an index fund. Additional principal risks are identified in the Fund’s prospectus. iShares TIPS Bond ETF
Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of concentration, emerging markets, foreign securities, futures securities, index funds, mid cap securities, securities lending, small cap and emerging growth securities risk and tracking error risk. ALTERNATIVE INVESTMENT FUND BlackRock Real Estate Securities Fund
Principal Risks of Investing. The Fund is subject to the risks of fixed-income investments, including, but not limited to, borrowing risk, dollar rolls risk, emerging markets risk, leverage risk, liquidity risk, market and selection risk, credit risk and U.S. government issuer risk. In addition, because the Fund may invest a portion of its assets in derivative instruments, the Fund is exposed to the risks associated with such investments. Derivatives may be volatile and involve significant risks, including credit risk, counterparty risk (the risk that the counterparty in a transaction will be unable to honor its obligations), leverage risk (the risk that relatively small market movements may result in large changes in the value of an investment) and liquidity risk (the risk that certain securities may be difficult or impossible to sell at the time or price that the seller would like). The Fund may invest in mortgage-backed and asset-backed securities. In addition to the normal fixed income investment risks, these securities are subject to prepayment risk and extension risk, and may involve more volatility than other bonds of similar maturities. The Fund is also subject to the special risks associated with foreign securities, emerging markets, derivatives and sovereign debt. High portfolio turnover resulting from active and frequent trading results in higher markups and other transaction costs and can result in a greater amount of dividends from ordinary income rather than capital gains. BlackRock Inflation Protected Bond Portfolio
Principal Risks of Investing. The main risks of investing in the Fund are commodities related investment risk; convertible securities risk; derivatives risk; equity securities risk; high portfolio turnover risk; investment style risk; leverage risk; market risk and selection risk; “new issues” risk; and preferred securities risk. iShares S&P 500 Index Fund Investment Objective, Strategy and Policies — The investment objective of the Fund is to seek to provide investment results that correspond to the total return performance of publicly-traded common stocks in the aggregate, as represented by the Standard & Poor’s 500 Index. The Fund pursues its investment objective by seeking to replicate the total return performance of the S&P 500 Index, which is composed of approximately 500 selected common stocks, most of which are listed on the New York Stock Exchange. The S&P 500 Index is a capitalization-weighted index from a broad range of industries chosen for market size, liquidity and industry group representation. The component stocks are weighted according to the total float-adjusted market value of their outstanding shares (i.e., they are weighted according to the public float which is the total market value of their outstanding shares readily available to the general marketplace for trading purposes). The percentage of the Fund’s assets invested in a given stock is approximately the same as the percentage such stock represents in the S&P 500 Index. The Fund is managed by determining which securities are to be purchased or sold to reflect, to the extent feasible, the investment characteristics of its benchmark index. Under normal circumstances, at least 90% of the value of the Fund’s assets, plus the amount of any borrowing for investment purposes, is invested in securities comprising the S&P 500 Index. The Fund also may engage in futures and other derivative securities transactions and lend its portfolio securities, each of which involves risk. The Fund may use futures contracts and other derivative transactions to manage its short-term liquidity and/or as substitutes for comparable market positions in the securities in its benchmark index. The Fund may also invest in high-quality money market instruments, including shares of money market funds advised by BlackRock Fund Advisors or its affiliates. The Fund invests all of its assets in the S&P 500 Index Master Portfolio of Master Investment Portfolio, which has the same investment objective and strategies as the Fund.
Principal Risks of Investing. An investment in the Cash Allocation Account is not insured or guaranteed by any government agency, the Program Distributor, the Investment Manager, the Program Manager or FAME and involves credit and interest rate risks. Investment in Maine CDs involves some of the special considerations discussed under "PROGRAM AND PORTFOLIO RISKS AND OTHER CONSIDERATIONS- Investment Risks of Underlying Funds — Underlying Funds Investing in Fixed Income Securities (Including Money Market Securities)." Composition — Since September 5, 2001, for the periods shown, the Cash Allocation Account has been invested in securities that are high quality, short-term securities, which may primarily consist of direct U.S. Government obligations, U.S. Government agency securities, obligations of domestic and foreign banks, U.S. dollar denominated commercial paper, other short-term debt securities issued by U.S. and foreign entities, repurchase agreements, and Maine CDs. Although the Cash Allocation Account was invested in Maine CDs until September 10, 2012, the Cash Allocation Account may or may not be continuously invested in Maine CDs after such date. Average Annual Total Return* as of June 30, 2021 1 Year 3 Years 5 Years 10 Years Since Inception Inception Date Cash Allocation Account 0.00% 1.13% 1.00% 0.54% 1.21% 09/05/01** * Average annual total return is a hypothetical rate of return that, if achieved annually, would have produced the same cumulative total return if performance had been constant over the entire period. (Cumulative total return reflects actual change in the value of an investment over a given period.) Average annual total return smooths out variations in performance; it is not the same as actual year-by-year results. Returns covering periods of less than one year represent cumulative total returns. ** From August 5, 1999 through September 4, 2001, the Cash Allocation Account was invested in Class II shares of the Retirement Reserves Money Fund of the Retirement Series Trust ("Money Fund"). For the period August 5, 1999 through September 4, 2001, the average annual total return of the Money Fund's Class II shares was 5.28%. General — Substantially all of the assets of each iShares Portfolio (each of which is also a BlackRock Portfolio) are invested in iShares ETFs that are recommended by BlackRock for that iShares Portfolio and approved by FAME for use in that iShares Portfolio. Certain iShares Portfolios may hold cash, pending investment in the iShares ETFs that ar...
Principal Risks of Investing. The Fund is subject to the risks of inflation-indexed bonds, fixed-income investments and non- investment grade securities. Additional principal risks are identified in the Fund’s prospectus. BlackRock Low Duration Bond Portfolio
Principal Risks of Investing. The Fund is subject to market risk, the risks of fixed income investments, and high yield securities risk as well as the risks and special considerations associated with investing in an index fund. Additional principal risks are identified in the Fund’s prospectus. The iShares ETFs are not sponsored, endorsed, issued, sold or promoted by Xxxxx & Steers Capital Management, Inc., Markit, MSCI Inc., S&P, ICE Data Indices, Bloomberg or Barclays. None of these companies make any representation regarding the advisability of investing in the Funds. None of BlackRock Institutional Trust Company, N.A., BlackRock Fund Advisors, or any of their affiliates, are affiliated with the companies listed above. iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.
Principal Risks of Investing. The Fund is subject to market risk, affiliated fund risk, allocation risk, equity securities risk, and the risks of fixed income investments as well as the risks and special considerations associated with investing in an index fund. Additional principal risks are identified in the Fund's prospectus. ALTERNATIVE INVESTMENT FUND iShares Xxxxx & Steers REIT ETF Investment Objective, Strategy and Policies — The iShares Xxxxx & Steers REIT ETF seeks to track the investment results of the Xxxxx & Steers Realty Majors Index (the "Underlying Index"), which consists of real estate investment trusts ("REITs"). The objective of the Underlying Index is to represent relatively large and liquid REITs that may benefit from future consolidation and securitization of the U.S. real estate industry. REITs are selected for inclusion in the Underlying Index based on a review of several factors, including management, portfolio quality, capital structure and sector and geographic diversification. The REITs selected for inclusion in the Underlying Index must meet minimum market capitalization and trading volume requirements. The Underlying Index is weighted according to the total free float adjusted market value of each REIT's outstanding shares and is adjusted quarterly so that no REIT represents more than 8% of the Underlying Index. Within the REIT market, the Underlying Index is diversified across property sectors that represent the current market.
Principal Risks of Investing. The Fund is subject to market risk, the risks of fixed income securities and TIPS securities risk as well as the risks and special considerations associated with investing in an index fund. Additional principal risks are identified in the Fund’s prospectus. NON-INVESTMENT GRADE FIXED INCOME FUND iShares iBoxx $ High Yield Corporate Bond ETF Investment Objective, Strategy and Policies — The iShares iBoxx $ High Yield Corporate Bond ETF seeks to track the investment results of the Markit iBoxx® USD Liquid High Yield Index (the “Underlying Index”), which is a rules-based index consisting of U.S. dollar-denominated, high yield (as determined by Markit Indices Limited (“Markit”)) corporate bonds for sale in the United States. The Underlying Index is designed to provide a broad representation of the U.S. dollar-denominated liquid high yield corporate bond market. The Underlying Index is a modified market-value weighted index with a cap on each issuer of 3%. There is no limit to the number of issues in the Underlying Index. Bonds in the Underlying Index are selected from the universe of eligible bonds in the Markit iBoxx USD Corporate Bond Index using defined rules. As of June 29, 2020, the bonds eligible for inclusion in the Underlying Index include U.S. dollar- denominated high yield corporate bonds that: (i) are issued by companies domiciled in countries classified as developed markets by Markit; (ii) have an average rating of sub-investment grade (ratings from Fitch Ratings, Inc., Xxxxx’x Investors Service, Inc. or S&P Global Ratings are considered; if more than one agency provides a rating, the average rating is attached to the bond); (iii) are from issuers with at least $1 billion outstanding face value; (iv) have at least $400 million of outstanding face value; (v) have an original maturity date of less than 15 years; (vi) have at least one year to maturity; and (vii) have at least one year and 6 months to maturity for new index insertions.
