STRATEGIC INCOME OPPORTUNITIES FUND
An Adaptable Approach for Today's Changing Bond Markets
Source: Morningstar. During 2013 (1/02/12 to 12/31/13), over 87.60% "traditional bond funds" (as defined by all share classes of funds in the Morningstar Intermediate Term Bond category) produced a negative return.
Performance data quoted represents past performance, which 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 0.93% (Institutional Shares). Since inception date of the fund is 02/05/08. The fund's annual total returns prior to 3/01/10 reflect a different investment strategy.
The share classes have different sales charges, fees and other features. Institutional shares are not available to all investors.
IMPORTANT RISKS OF THE FUND
Past performance is no guarantee of future results. The fund is actively managed and its characteristics will vary. Any holdings shown are for information only and should not be deemed as a recommendation to buy or sell securities mentioned. Bond values fluctuate in price so the value of your investment can go down depending on market conditions. Two main risks related to fixed income investing are interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in market value of bonds. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. Investments in noninvestment-grade debt securities ("high-yield" or "junk" bonds) may be subject to greater market fluctuations and risk of default or loss of income and principal than securities in higher rating categories. The fund may use derivatives, such as futures, options, swaps or tender-option bonds, to hedge its investments or to seek to enhance returns. Investing in derivatives entails specific risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. There may be less information available on the financial condition of issuers of municipal securities than for public corporations. The market for municipal bonds may be less liquid than for taxable bonds. A portion of the income may be taxable. Some investors may be subject to Alternative Minimum Tax (AMT). Capital gains distributions, if any, are taxable.
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.
Prepared by BlackRock Investments, LLC, member FINRA.