|
Summary Prospectus |
Shareholder Fees
(fees paid directly from your investment) |
|
Investor A
Shares |
|
Investor C
Shares |
|
Institutional Shares |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering
price) |
|
4.00% |
|
None |
|
None |
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) |
|
None1 |
|
1.00%2 |
|
None |
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment) |
|
Investor A
Shares |
|
Investor C
Shares |
|
Institutional
Shares |
Management Fee3 |
|
0.73% |
|
0.73% |
|
0.73% |
Distribution and/or Service (12b-1) Fees |
|
0.25% |
|
1.00% |
|
None |
Other Expenses |
|
0.23% |
|
0.16% |
|
0.20% |
Administration Fees |
0.02% |
|
0.02% |
|
0.02% |
|
Miscellaneous Other Expenses |
0.21% |
|
0.14% |
|
0.18% |
|
Total Annual Fund Operating Expenses4
|
|
1.21% |
|
1.89% |
|
0.93% |
Fee Waivers and/or Expense Reimbursements3,5 |
|
(0.01)% |
|
— |
|
— |
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements3,5 |
|
1.20% |
|
1.89% |
|
0.93% |
|
1 Year |
3 Years |
5 Years |
10 Years |
Investor A Shares |
$517 |
$768 |
$1,037 |
$1,806 |
Investor C Shares |
$292 |
$594 |
$1,021 |
$2,034 |
Institutional Shares |
$95 |
$296 |
$515 |
$1,143 |
|
1 Year |
3 Years |
5 Years |
10 Years |
Investor C Shares |
$192 |
$594 |
$1,021 |
$2,034 |
For the periods ended 12/31/23
Average Annual Total Returns |
1 Year |
5 Years |
Since Inception
(May 19, 2015) |
BlackRock Systematic Multi-Strategy Fund — Investor A Shares
|
|
|
|
Return Before Taxes |
1.94 % |
3.16 % |
3.31 % |
Return After Taxes on Distributions |
0.32 % |
1.88 % |
1.78 % |
Return After Taxes on Distributions and Sale of Fund Shares |
1.17 % |
1.90 % |
1.92 % |
BlackRock Systematic Multi-Strategy Fund — Investor C Shares |
|
|
|
Return Before Taxes |
4.48 % |
3.26 % |
3.08 % |
BlackRock Systematic Multi-Strategy Fund — Institutional Shares
|
|
|
|
Return Before Taxes |
6.44 % |
4.26 % |
4.05 % |
ICE BofA 3-Month U.S. Treasury Bill Index (Reflects no deduction for
fees, expenses or taxes)1 |
5.02 % |
1.88 % |
1.45 % |
Bloomberg U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes) |
5.53 % |
1.10 % |
1.38 % |
Portfolio Manager |
Portfolio Manager of the Fund Since |
Title |
Tom Parker, CFA |
2015* |
Managing Director of BlackRock, Inc. |
Scott Radell |
2015* |
Managing Director of BlackRock, Inc. |
Jeffrey Rosenberg, CFA |
2018 |
Managing Director of BlackRock, Inc. |
Chad Meuse |
2023 |
Managing Director of BlackRock, Inc. |
|
Investor A and Investor C Shares |
Institutional Shares |
Minimum Initial
Investment |
$1,000 for all accounts except:
•$50, if establishing an Automatic Investment Plan. •There is no investment minimum for employer-
sponsored retirement plans (not including SEP
IRAs, SIMPLE IRAs or SARSEPs).
•There is no investment minimum for certain fee- based programs. |
There is no minimum initial investment for:
•Employer-sponsored
retirement plans (not including SEP IRAs, SIMPLE IRAs or SARSEPs),
state sponsored 529 college savings plans,
collective trust funds, investment companies or
other pooled investment vehicles, unaffiliated
thrifts and unaffiliated banks and trust
companies, each of which may purchase shares
of the Fund through a Financial Intermediary that
has entered into an agreement with the Fund’s
distributor to purchase such shares.
•Clients
of Financial Intermediaries that: (i) charge such clients a fee for advisory, investment
consulting, or similar services or (ii) have entered
into an agreement with the Fund’s distributor to
offer Institutional Shares through a no-load
program or investment platform.
•Clients
investing through a self-directed IRA brokerage account program sponsored by a
retirement plan record-keeper, provided that such
program offers only mutual fund options and that
the program maintains an account with the Fund
on an omnibus basis. $2 million for individuals and “Institutional
Investors,” which include, but are not limited to,
endowments, foundations, family offices, local,
city, and state governmental institutions,
corporations and insurance company separate
accounts who may purchase shares of the Fund
through a Financial Intermediary that has entered
into an agreement with the Fund’s distributor to
purchase such shares. $1,000 for:
•Clients
investing through Financial Intermediaries that offer such shares on a platform that
charges a transaction based sales commission outside of
the Fund. •Tax-qualified accounts for insurance agents that
are registered representatives of an insurance
company’s broker-dealer that has entered into an
agreement with the Fund’s distributor to offer
Institutional Shares, and the family members of
such persons. |
Minimum Additional Investment |
$50 for all accounts (with the exception of certain employer-sponsored retirement plans which may have a lower minimum). |
No subsequent minimum. |