PERFORMANCE


Source: Lipper. Data reflects different methodology from the BlackRock calculated returns in the Returns tab. The $10,000 Hypothetical Over Time chart reflects a hypothetical $10,000 investment in the investor class of shares noted and does not assume the max sales charge. Had sales charge been included, returns would have been lower. The chart uses market price performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted. Performance for other share classes will vary.




The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.
as of
  1y 3y 5y 10y Incept.  
20.08 16.18 13.43 8.73 8.82
Market Price Total Return (%)   30.18 16.65 12.43 9.27 7.81
as of
  YTD 1m 1y 3y 5y 10y Incept.  
6.92 2.75 20.08 56.80 87.77 130.85 139.69
Market Price Total Return (%)   16.23 4.17 30.18 58.71 79.62 142.61 117.64
Lipper Ranking   12/31 9/30 1/3
as of
  2009 2010 2011 2012 2013
Total Return (%)   29.41 12.20 5.96 10.08 23.38
Market Price Total Return (%)   61.12 9.04 -7.07 11.56 20.50


The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Interactive chart displaying fund performance. Javascript is required.

Ex-Date Payable Date Record Date Total Distribution   Return of Capital
Sep 11, 2014 Sep 30, 2014 Sep 15, 2014 $0.100000 -
Jun 12, 2014 Jun 30, 2014 Jun 16, 2014 $0.300000 -
Mar 12, 2014 Mar 12, 2014 Mar 12, 2014 $0.300000 -
Dec 31, 2013 Dec 31, 2013 Dec 31, 2013 $0.300000 $0.000000
Sep 30, 2013 Sep 30, 2013 Sep 30, 2013 $0.300000 $0.294924
Jun 28, 2013 Jun 28, 2013 Jun 28, 2013 $0.300000 $0.294924
Mar 28, 2013 Mar 28, 2013 Mar 28, 2013 $0.300000 $0.294924
Dec 31, 2012 Dec 31, 2012 Dec 31, 2012 $0.300000 $0.000000
Sep 28, 2012 Sep 28, 2012 Sep 28, 2012 $0.300000 $0.211111
Jun 29, 2012 Jun 29, 2012 Jun 29, 2012 $0.360000 $0.253334
Mar 30, 2012 Mar 30, 2012 Mar 30, 2012 $0.360000 $0.253334

Interactive chart displaying fund performance. Javascript is required.

Year Total Distribution  
2013 1.20
2012 1.32

Past distributions are not indicative of future distributions.



The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 29-Aug-2014

Name Weight (%)
JAPAN AIRLINES CO LTD 4.62
APPLE INC 4.28
UNITEDHEALTH GROUP INCORPORATED 4.13
AMERICAN INTERNATIONAL GROUP INC 4.07
SUNCOR ENERGY INC 3.87
SINCLAIR BROADCAST GROUP INC 3.40
CF INDUSTRIES HOLDINGS INC 3.32
FIDELITY NATIONAL FINANCIAL INC 3.28
ORBITZ WORLDWIDE INC 2.93
PFIZER INC 2.89
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.

Exposure Breakdowns

as of 29-Aug-2014

% of Market Value  

United States

82.5%

Japan

4.6%

Canada

3.9%

Korea (South), Republic of

2.9%

Germany

2.7%

United Kingdom

2.3%

Switzerland

0.6%

Virgin Islands, British

0.5%

France

0.4%

Cash and Derivatives

-0.4%

as of 29-Aug-2014

% of Market Value  

North America

86.4%

Europe

6.5%

Asia Pacific Basin

4.6%

Emerging Markets

2.9%

Cash and Derivatives

-0.4%

Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 29-Aug-2014

% of Market Value  

Information Technology

20.3%

Financials

19.6%

Consumer Discretionary

19.4%

Health Care

14.1%

Industrials

8.1%

Energy

7.8%

Materials

4.4%

Telecommunications

3.4%

Consumer Staples

3.3%

Cash and Derivatives

-0.4%

as of 29-Aug-2014

% of Market Value  

Cash and Derivatives

-0.4%

Large Cap ->$10bn

77.5%

Mid Cap - $2-$10bn

18.6%

Small Cap -<$2bn

4.3%

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Ratings

KEY FACTS

Size of Fund (Millions)

as of 29-Sep-2014

$682.3 M
Managed Assets  

as of 29-Sep-2014

$682.3 M
Inception Date Apr 30, 2004
Exchange New York Stock Exchange Inc.
Asset Class Equity
Morningstar Category Large Value
Lipper Classification Opt Arbitrage/Opt Strat
CUSIP 09256A109

Total Expense Ratio 0.93%
Management Fee 0.85%

Shares Outstanding

as of 29-Sep-2014

44,121,400
Number of Holdings

as of -

-
Premium/Discount  

as of 29-Sep-2014

-2.65%
3m Avg Volume

as of 29-Aug-2014

148,940

PORTFOLIO CHARACTERISTICS

Average Market Cap (Millions)  

as of 29-Aug-2014

$102,092.6 M

Current Yield  

as of 29-Aug-2014

7.87%

% Overwritten  

as of 30-Jun-2014

48.77
Type of Options   Single Stock

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses. Read the prospectus carefully before investing.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. Compared to more established economies, the value of investments in developing Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability. The fund may invest in smaller company shares which can be more unpredictable and less liquid than those of larger company shares.

Performance results reflect past performance and are no guarantee of future results. Current performance may be lower or higher than the performance data quoted. All returns assume reinvestment of all dividends. The market value and net asset value (NAV) of a fund's shares will fluctuate with market conditions. Closed-end funds may trade at a premium to NAV but often trade at a discount.

Investment return, price, yields and NAV will fluctuate with changes in market conditions. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. There is no assurance that a fund will meet its investment objective.

Some funds may utilize leveraging to seek to enhance the yield and net asset value of its common stock, through bank borrowings, issuance of short-term debt securities or shares of preferred stock, or a combination thereof. However, these objectives cannot be achieved in all interest rate environments. While leverage may result in a higher yield for the fund, the use of leverage involves risk, including the potential for higher volatility of the NAV, fluctuations of dividends and other distributions paid by the fund and the market price of the fund's common stock, among others. Certain funds may invest assets in securities of issuers domiciled outside the United States, including issuers from emerging markets. Foreign investing involves special risks, including foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Lipper rankings are based on total return using market prices.

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