The Fund is a sub-fund of BlackRock Authorised Contractual Scheme I taking the form of a co-ownership scheme. As a consequence of this, the Fund may be treated as tax transparent for the purpose of income and/or capital gains by relevant taxing jurisdictions. Each investor should take appropriate professional advice as to the tax treatment of their investment in the Fund. Investors in the Fund must be Eligible Investors as defined in the Fund’s prospectus and must have completed all relevant documentation prior to the purchase of units in the Fund. The Fund aims to provide a return on your investment (generated through an increase to the value of the assets held by the Fund and/or income received from those assets) by tracking closely the performance of the FTSE Custom Composite UK All-Share 50% Dev Europe ex UK 16.7% US 16.7% Japan 8.3% Dev Asia Pacific ex Japan 8.3% Midday (12:00 UK) Net Tax (UK Pension) Index, the Fund’s benchmark index (the “Benchmark Index”). The Fund is passively managed and the investment adviser has discretion to select the Fund’s investments and in doing so may take into consideration the Benchmark Index. The Fund invests so far as possible and practicable in the equity securities (e.g. shares) of companies that make up the Benchmark Index.