Additional Information on MAI Interactive Chart
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All data as of 12/31/13 based on Investor A shares. The Fund's investment strategy changed on 11/28/11, the date referred to as the strategy inception date. Yield data for 11/30/11 does not reflect the current strategy of the Fund, and therefore is not included on the "Yield vs. Volatility" tab. Yield data on this tab refers to subsidized SEC yields for Investor A shares as of the date indicated. Unsubsidized yields, which do not include the effects of fee waivers, would be lower.
Risk refers to annualized standard deviation of daily returns for the trailing 30 days. Standard deviation is a measure of the dispersion of an investment's actual returns compared to its expected returns.
Asset allocations shown on the "Asset Allocation" tab are as of the dates indicated and are not recommended allocations.
Returns on the "Performance" tab are cumulative, from 11/30/11 to the date indicated under the sliding bar. Risk refers to trailing 30-day standard deviation. The chart shows the growth of a $10,000 investment in the Fund's Investor A-shares made on 11/30/11, not including the effects of the maximum initial sales charge of 5.25%. If sales charge had been included, returns and growth would have been lower.
Click the legend items on all three tabs to reveal definitions of representative indexes. It is not possible to invest directly in an index.
All numbers listed above are calculated using Investor A share class as of 9/30/2013.
The share classes have different sales charges, fees and other features. Returns with sales charge reflect the deduction of current maximum initial sales charge of 5.25% for Investor A shares.
Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown. All returns assume reinvestment of all dividend and capital gain distributions. Total annual operating expenses as stated in the fund's most recent prospectus are 1.30% (Investor A Shares). Since inception date of the fund is 04/07/08. The fund's annual total returns prior to 11/28/11 reflect a different investment strategy.
*Based on the Fund's average unsubsidized 30-day SEC yield since strategy inception (11/28/11). Traditional bond investment defined by the Barclays US Aggregate Bond Index. Past performance is no guarantee of future results. Note that the higher yield is in part achieved by taking on more risk that the Barclays US Aggregate Index.
† Based on the average 30-day standard deviation compared to the benchmark since the Fund's strategy inception on 11/28/11 to 3/31/13. Risk is based on standard deviation which measures the volatility of a fund's returns. Higher deviation represents higher volatility. Standard deviation is only one element of risk. There are other components of risk that should be considered. Benchmark consists of 50% global stocks (MSCI World) and 50% bonds (Barclays Agg). Figures refer to A-shares.
Important Risks of the Fund: The portfolio is actively managed and its characteristics will vary. As a fund of funds, the Portfolio 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 risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/developing markets or smaller capital markets. The two main risks related to fixed income investing are interest-rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. Asset allocation 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 performance. Investing in derivatives entails specific risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility.
You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The Fund's prospectus contains this and other information about the Fund. The prospectus should be read carefully before investing.
Prepared by BlackRock Investments, LLC, member FINRA.