PERFORMANCE

as of
  1y 3y 5y 10y Incept.  
4.16 9.41 8.79 - 5.20
Benchmark (%)   11.81 19.67 16.54 - 6.70
Lipper Category Avg. (%)   2.45 5.44 5.93 4.35 -
as of
  1m 3m YTD 1y 3y 5y 10y Incept.  
0.28 0.38 3.19 4.16 30.96 52.39 - 50.92
Benchmark (%)   1.29 0.64 3.23 11.81 71.40 114.98 - 69.21
Lipper Category Avg. (%)   -0.13 -0.02 1.92 2.45 17.33 33.60 53.45 -
as of
  2010 2011 2012 2013 2014
Total Return (%)   - - 12.73 10.84 4.68
Benchmark (%)   15.06 2.11 16.00 32.39 13.69
Morningstar Category Avg. (%)   -36.98 26.46 15.06 2.11 16.00


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.
Performance chart data not available for display.
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.

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Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains

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Year Total Distribution   Income ST Cap Gains LT Cap Gains

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-May-2015

Name Weight (%)
BLACKROCK TOTAL RETURN FUND 2015 30.84
BLK INFLT PROTECT BND BLK CLASS 8.95
BLK INTL OPPORTUNITY INST CLASS 8.91
BLK STRAT INCOME OPPORT INST CLASS 6.64
BLK GLBL L/S CREDIT FND INST CLASS 6.60
BLK GLBL L/S EQUITY FND INST CLASS 4.25
BLK EMRG MKT L/S EQ FND INST CLASS 4.24
ISHARES RUSSELL 2000 ETF 3.77
BLACKROCK COMMODITY STRAT FUND 3.74
BLACKROCK LARGE CAP GROWTH 2015 3.74
Holdings subject to change

PORTFOLIO MANAGEMENT

KEY FACTS

Size of Class (Millions)

as of 01-Jul-2015

$0.8 M
Size of Fund (Millions)

as of 01-Jul-2015

$23.1 M
Asset Class MultiAsset
Lipper Classification Mixed-Asset Target 2015 Funds
Morningstar Category -
Benchmark Index S&P 500 Index
CUSIP 09257E308
Inception Date Apr 20, 2007

Net, Including Investment Related Expenses   0.63%
Net, Excluding Investment Related Expenses 0.10%
Total Expense Ratio 1.70%

Max Offer Price

as of 01-Jul-2015

$10.53
Distribution Frequency   Annual
Open to New Investors Yes
Turnover Percent

as of 30-Jun-2015

42%

PORTFOLIO CHARACTERISTICS

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 or, if available, the summary prospectuses which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

The fund is actively managed and its characteristics will vary.

Fund of funds are 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 special risks including, but not limited to currency fluctuations, illiquidity and volatility. These risks may be heightened for investments in emerging markets.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. 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.

The fund may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility.

The target date in the funds name is the approximate date an investor plans to start withdrawing money. The principal value is not guaranteed at any time, including at the target date.

Performance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of all dividends. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than the performance data quoted.

Investing involves risk, including possible loss of principal.

Fund details, holdings and characteristics are as of the date noted and subject to change.

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 Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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