Category: SICAV

The Fund aims to provide a return on your investment through a combination of capital growth and income commensurate with a defensive level of risk. The Fund will seek to achieve its investment objective by obtaining indirect exposure to equity securities (e.g. shares), equity-related (ER) securities, fixed income (FI) securities (such as bonds) and FI-related securities, alternative assets (such as property and commodities), cash and deposits. FI securities include money market instruments (MMIs) (i.e. debt securities with short term maturities). ER securities and FI-related securities include financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). Exposure to these asset classes will be achieved through the Fund’s investments in other funds globally, including exchange traded funds and other index funds managed by the BlackRock Group and, when determined appropriate, the Fund may invest directly in FI-related securities, FI-securities, MMIs, cash and deposits. The Fund’s direct investments in FI securities and MMIs may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development) and will be investment grade (i.e. meet a specified level of credit worthiness) at the time of purchase. Generally, the Fund will seek to be positioned such that the Fund’s risk as measured by annualised volatility over a 5 year period falls within the range of 2%-5%, however, the Fund’s risk profile may fall outside the stated range from time to time. Volatility is the measure of fluctuations of the returns of a given investment. Generally, the higher the volatility, the riskier the investment. The IA has discretion to select the Fund's investments. The investment adviser (IA) will use FDIs. For the purpose of managing currency exposure, the IA may use investment techniques (which may include the use of FDIs) to protect the value of the Fund, in whole or part, or enable the Fund to profit from, changes in currency exchange rates against the base currency of the Fund. Recommendation: This Fund may not be appropriate for short-term investment. Your shares will be non-distributing (i.e. dividend income will be included in their value). Your shares will be denominated in Euro, the Fund's base currency. You can buy and sell your shares daily. The minimum initial investment for this share class is US$5,000 or currency equivalent. For more information on the Fund, share/unit classes, risks and charges, please see the Fund's prospectus, available on the product pages at www.blackrock.com