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BlackRock Active Equities

Combining human insights with innovative technologies

BlackRock's active equity platform includes 40 funds striving for both competitive performance and fees. We develop strategies to help your clients achieve their financial goals, whatever they may be.

BlackRock is raising the bar for active equity

BlackRock is a world leader in index ETFs, which raises the bar for our active equity managers. The firm has responded by revamping its active equity platform, with impressive results focused around three principles:
Magnifier
Alpha generation
We focus on security selection, not static sector or factor tilts.
Performance
Consistent returns
Aladdin helps us manage risk with particular focus on upside / downside capture.
Lowcost
Competitive fees
We’ve reduced client fees by $39.6 million over the last three years.*

Active equity investment ideas

Not sure where to start? Get started with these investment ideas from BlackRock’s active equity platform to help your clients reach their goals.

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Seek outperformance through ESG insights

ESG BIRIX

1Performance as of 6/30/21. Performance is not annualized for periods less than one year. The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate 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 the performance quoted. Refer to website www.blackrock.com to obtain performance data current to the most recent month end. Investment returns reflect total fund operating expenses, net of all fees, waivers and/or expense reimbursements. Total annual operating expenses as stated in this fund’s most recent prospectus are: Institutional, 0.79% / 0.48% net. Source: MSCI as of 6/30/21. The Advantage ESG U.S. Equity Fund was ranked 4/1,025 Large Blend funds with a MSCI ESG Quality Score. The MSCI ESG Quality Score (0 10) for funds is calculated using the weighted average of the ESG scores of fund holdings. The Score also considers ESG Rating trend of holdings and the fund exposure to holdings in the laggard category. MSCI rates underlying holdings according to their exposure to industry specific ESG risks and their ability to manages those risks relative to peers. These issuer level ESG ratings correspond to an issuer level ESG score.

The BlackRock Advantage ESG U.S. Equity Fund (BIRIX) outperformed the category average in each of the past 5 years, ranked in the top 5 percentile for ESG quality score, and is priced in the lowest fee quartile1.

Invest beyond your borders with a decade-long proven approach

MAILX

2Standardized performance as of 6/30/2021 for MAILX as follows: 1yr, 46.62%, 5yr 15.08%, 10yr 7.13%. Standardized performance as of 6/30/2021 for MSCI All Country World ex-US Index as follows: 1yr 35.72%, 5yr 11.08%, 10yr 5.45%. Standardized performance for Foreign Large Blend Category as follows 1yr 33.76%, 5yr 10.08%, 10yr 5.80%.The performance data quoted represents past performance. Past performance does not guarantee future results.

3Source: Morningstar since PM inception 4/1/2007 to 6/30/2021. Since PM inception of 4/1/07, the fund was ranked 22/249 funds. Morningstar Category: Foreign Large Blend for International Fund. Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. As of 6/30/2021, International Fund was ranked 1yr, 26/757; 3yr, 12/673; 5yr, 4/579; 10yr, 29/385.

4Source: Morningstar: As of 12/31/20. BlackRock International Fund ranked in the 18th percentile (the least expensive quartile) vs. 181 Foreign Large Blend institutional share category peers by net expense ratio. The Foreign Large Blend category median net expense ratio is 0.86%. Expenses stated as of the fund's most recent prospectus: Institutional Shares Total/Net, Including Investment Related expenses are 0.88%/0.65% and have contractual waivers with an end date of 9/30/21 terminable upon 90 days' notice.

The BlackRock International Fund (MAILX) is led by a portfolio management team who has delivered over 10 years of competitive results2 driven by bottom-up stock picking, not top-down sector bets. It is a high conviction portfolio of 30-40 stocks with a proven track record throughout market cycles.

Invest in high-growth companies driving technological disruption

BGSIX

5Source: Morningstar as of 6/30/2021. Morningstar Category: Technology for Technology Opportunities. Rankings are based on tot al return excluding sales charges, independently calculated and not combined to create an overall ranking. Technology Opportunities was ranked 1 Year 75/249; 3 Year 8/215; 5 Year 4/182; 10 Year 6/157. Since PM inception of 6/17/2013, the fund was ranked 2/167 funds.

The BlackRock Technology Opportunities Fund (BGSIX) is a balanced portfolio diversified across industries, geographies and markets, and goes beyond the benchmark to achieve alpha. BGSIX is ranked in the 1st percentile in the Morningstar technology category since PM inception5.

Invest in a large cap value strategy built for diverse markets

MADVX

6Source: Morningstar as of 6/30/2021. Morningstar Category: US Fund Large Value. Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. Equity Dividend Fund was ranked. 1 Year 733/1,210; 3 Year 373/1,141; 5 Year 259/1,012; 10 Year 262/740; 15yr, 70/516. Past performance is no guarantee of future results. Click here for standardized performance.

The BlackRock Equity Dividend Fund (MADVX) outperformed 88% of peers over the last 15 years6. The BlackRock Equity Dividend team invests in U.S. large cap value companies with a greater potential for dividend growth, and seeks lower volatility equity returns, trading at attractive prices.

Performance data represents past performance and does not guarantee future results. Investment return and principal value will fluctuate with market conditions and may be lower or higher when you sell your shares. Current performance may differ from the performance shown. For most recent month-end performance and standardized performance, click on the fund names above.

Expert insights from our active equity team

Hear the latest from our BlackRock active portfolio managers and experts on what they’re seeing in the markets and advisor portfolios.

E2E series animation intro, music

TITLE SLIDE: Impact investing and the future of capitalism

EPISODE TITLE SLIDE: Part 1 – Going public and the myth of lower returns

QUYEN TRAN

Welcome to Expert to Expert, a BlackRock Fundamental Equities video series that pairs our investment professionals with the business heads, politicians, policymakers and academics who are leaders in their fields and influencers in our global economy. Together they explore the topics that are driving markets and shaping investor decision-making.

Our second episode shines a bright light on impact investing, and I’m thrilled to introduce two pioneers and experts in the field.

Sir Ronald Cohen is widely recognized as the father of impact investing and European venture capital. He is driving forward the global impact revolution. Sir Ronald serves as Chairman of the Global Steering Group for Impact Investment, the impact weighted accounts initiative at Harvard Business School, and the Portman Trust. He was born in Egypt and left as a refugee at the age of eleven when his family came to the United Kingdom. He is the author of Impact, Reshaping Capitalism to Drive Real Change.

Eric Rice is Head of Impact Investing at BlackRock. He works as a portfolio manager and is the architect of the world’s first diversified public equity impact investing strategy, Global Impact. Early in his career, Eric worked as a World Bank country economist, and a diplomat in Rwanda with the U.S. Department of State.

In Part 1 of their three-part conversation, Sir Ronnie and Eric discuss impact investing and the myth of lower returns. Gentlemen, please take it away.

ERIC RICE

Thanks, Quyen. And hi, Ronnie. It's nice to see you.

SIR RONNIE COHEN

Hi, Eric. Great to see you, too.

RICE

So Ronnie, you and I have both spent years as impact investors. And historically, impact investment has lived in a very circumscribed space, focused in the private markets, and only on companies that are dedicated to solving the world's big problems. But now, in your new book, Impact, you write about a broader concept of reimagining capitalism. So what does this idea of reimagining capitalism mean to you? And why is it so important at this moment in history?

COHEN

Great question, Eric. The world is shifting economic paradigms.

CAPTION: Major shift: Companies measured not only on profitability, but on impact

It's shifting from risk/return to risk/return impact. And the implications of that change are massive because that they will enable us to measure the impacts of companies and to compare not just their profitability, but their impacts, too. And this is informing investment decisions today. But with new information coming on stream, we will be able to compare in great detail the impacts of companies.

RICE

You broaden the scope through your work on impact-weighted accounts to that whole economy. Can you tell us a bit about what you would hope to accomplish with that?

COHEN

Yeah. Everybody assumes we can't measure impacts.

CAPTION: Data is now available to measure and quantify impact

In fact, though, there's a ton of publicly available information which we can use algorithms and big data to analyze and to deliver to investors and other stakeholders. So what the impact-weighted accounts initiative does at Harvard Business School is take the metrics which have been laboriously prepared by some amazing organizations, like SASBI and GRI over the last decade or two, and sort out the most important metrics, and then create pathways to monetizing these metrics so we can reflect employment impact, and product impact, and operational impact on people and the planet through financial accounts.

RICE

I love the way you broaden that out to the entire economy, the entire market.

SECTION SLIDE: Broader impact: from private to public markets

For my team, we capture the narrow definition of impact investing. But we broaden the lens in a different way, which is to go from what was private markets to what's public markets, the recognition that if we're going to meet the demands of the United Nations sustainable development goals, it's been calculated that it's about $2.5 trillion a year shortfall for the emerging markets, and then to reach the Paris Climate Accord goals another about the same, $2.5 trillion. So to get to the $5 trillion extra that's needed, we've looked at this and said, well, impact investing has to go from private markets to public markets. And that's how we've approached it.

CAPTION: Meeting global impact goals requires expanding to public markets

COHEN

I totally agree. I totally agree with your characterization, Eric. And what we're doing by bringing the transparency on corporate impacts to investors is we're enabling investors now to optimize risk/return and impact, whether they're investing in private asset classes, or in public equities, or in bonds or any other form of investment. So bringing measurement to ESG through ESG impact accounting, if you like, is turning ESG into impact investing, which has the intention to create impact, but also the measurement of the impact created.

RICE

It's amazing to me that there's one issue that never seems to die. We hear from our family office clients and from institutional investors still that impact investing, while it sounds great from a philanthropic lens,

CAPTION: Impact investing is compatible with the fiduciary obligation to maximize return[06:27] it leaves out the fiduciary obligation to maximize returns, this view that impact investing necessarily gives up returns.

COHEN

So I think this myth is now being exploded, Eric. There's a lot of-- there are a lot of reasons why risk/return impact should deliver better returns than just risk/return optimization.

RICE

I agree. It's funny. Some years ago, we used to think about this. And it wasn't tested yet. We could say, theoretically, wouldn't you rather invest in these long runways of unmet needs, whether social or environmental? Or would you rather invest in the incumbents who are struggling to stay in the same place or who are struggling with stranded assets?

But now, we've had a chance to test it. Now, we can see what the returns look like over quite a number of years. And at least from our view, they're very good. I don't know what you have seen from your perspective.

COHEN

So I see the same thing. I see risk/return impact as a better way to do business and to invest today. You have to be crazy today to invest in a company with a good product, but which is creating huge environmental harm and using child labor, as an example because it's becoming clear that, with the changing values and the influence of policy makers that these changing values are having, these companies are going to be regulated and taxed.

So the world has already started to shift.

TRAN

Sir Ronald and Eric discussed important issues about investing with impact. The key takeaway, in my view, aligns with the message from BlackRock’s CEO, Larry Fink.

CAPTION: Larry Fink: “The more your company can show its purpose in delivering value to its customers, its employees, and its communities, the better able you will be to compete and deliver long-term, durable profits for shareholders.”

The more your company can show its purpose in delivering value to its customers, its employees, and its communities, the better able you will be to compete and deliver long-term durable profits for shareholders.

We hope you’ll tune into Part 2 of our impact series where Sir Ronnie and Eric focus on the three forces driving change.

Exit animation & music

This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of May 25, 2021 and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. Past performance is no guarantee of future results. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.

Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an index. Investing involves risks, including possible loss of principal.  This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

© 2021 BlackRock, Inc. BlackRock is a trademark of BlackRock, Inc. All other trademarks are the property of their respective owners.

USRRMH0721U/S-1715117

E2E series animation intro, music

TITLE SLIDE: Impact investing and the future of capitalism

EPISODE TITLE SLIDE: Part 1 – Going public and the myth of lower returns

QUYEN TRAN

Welcome to Expert to Expert, a BlackRock Fundamental Equities video series that pairs our investment professionals with the business heads, politicians, policymakers and academics who are leaders in their fields and influencers in our global economy. Together they explore the topics that are driving markets and shaping investor decision-making.

Our second episode shines a bright light on impact investing, and I’m thrilled to introduce two pioneers and experts in the field.

Sir Ronald Cohen is widely recognized as the father of impact investing and European venture capital. He is driving forward the global impact revolution. Sir Ronald serves as Chairman of the Global Steering Group for Impact Investment, the impact weighted accounts initiative at Harvard Business School, and the Portman Trust. He was born in Egypt and left as a refugee at the age of eleven when his family came to the United Kingdom. He is the author of Impact, Reshaping Capitalism to Drive Real Change.

Eric Rice is Head of Impact Investing at BlackRock. He works as a portfolio manager and is the architect of the world’s first diversified public equity impact investing strategy, Global Impact. Early in his career, Eric worked as a World Bank country economist, and a diplomat in Rwanda with the U.S. Department of State.

In Part 1 of their three-part conversation, Sir Ronnie and Eric discuss impact investing and the myth of lower returns. Gentlemen, please take it away.

ERIC RICE

Thanks, Quyen. And hi, Ronnie. It's nice to see you.

SIR RONNIE COHEN

Hi, Eric. Great to see you, too.

RICE

So Ronnie, you and I have both spent years as impact investors. And historically, impact investment has lived in a very circumscribed space, focused in the private markets, and only on companies that are dedicated to solving the world's big problems. But now, in your new book, Impact, you write about a broader concept of reimagining capitalism. So what does this idea of reimagining capitalism mean to you? And why is it so important at this moment in history?

COHEN

Great question, Eric. The world is shifting economic paradigms.

CAPTION: Major shift: Companies measured not only on profitability, but on impact

It's shifting from risk/return to risk/return impact. And the implications of that change are massive because that they will enable us to measure the impacts of companies and to compare not just their profitability, but their impacts, too. And this is informing investment decisions today. But with new information coming on stream, we will be able to compare in great detail the impacts of companies.

RICE

You broaden the scope through your work on impact-weighted accounts to that whole economy. Can you tell us a bit about what you would hope to accomplish with that?

COHEN

Yeah. Everybody assumes we can't measure impacts.

CAPTION: Data is now available to measure and quantify impact

In fact, though, there's a ton of publicly available information which we can use algorithms and big data to analyze and to deliver to investors and other stakeholders. So what the impact-weighted accounts initiative does at Harvard Business School is take the metrics which have been laboriously prepared by some amazing organizations, like SASBI and GRI over the last decade or two, and sort out the most important metrics, and then create pathways to monetizing these metrics so we can reflect employment impact, and product impact, and operational impact on people and the planet through financial accounts.

RICE

I love the way you broaden that out to the entire economy, the entire market.

SECTION SLIDE: Broader impact: from private to public markets

For my team, we capture the narrow definition of impact investing. But we broaden the lens in a different way, which is to go from what was private markets to what's public markets, the recognition that if we're going to meet the demands of the United Nations sustainable development goals, it's been calculated that it's about $2.5 trillion a year shortfall for the emerging markets, and then to reach the Paris Climate Accord goals another about the same, $2.5 trillion. So to get to the $5 trillion extra that's needed, we've looked at this and said, well, impact investing has to go from private markets to public markets. And that's how we've approached it.

CAPTION: Meeting global impact goals requires expanding to public markets

COHEN

I totally agree. I totally agree with your characterization, Eric. And what we're doing by bringing the transparency on corporate impacts to investors is we're enabling investors now to optimize risk/return and impact, whether they're investing in private asset classes, or in public equities, or in bonds or any other form of investment. So bringing measurement to ESG through ESG impact accounting, if you like, is turning ESG into impact investing, which has the intention to create impact, but also the measurement of the impact created.

RICE

It's amazing to me that there's one issue that never seems to die. We hear from our family office clients and from institutional investors still that impact investing, while it sounds great from a philanthropic lens,

CAPTION: Impact investing is compatible with the fiduciary obligation to maximize return[06:27] it leaves out the fiduciary obligation to maximize returns, this view that impact investing necessarily gives up returns.

COHEN

So I think this myth is now being exploded, Eric. There's a lot of-- there are a lot of reasons why risk/return impact should deliver better returns than just risk/return optimization.

RICE

I agree. It's funny. Some years ago, we used to think about this. And it wasn't tested yet. We could say, theoretically, wouldn't you rather invest in these long runways of unmet needs, whether social or environmental? Or would you rather invest in the incumbents who are struggling to stay in the same place or who are struggling with stranded assets?

But now, we've had a chance to test it. Now, we can see what the returns look like over quite a number of years. And at least from our view, they're very good. I don't know what you have seen from your perspective.

COHEN

So I see the same thing. I see risk/return impact as a better way to do business and to invest today. You have to be crazy today to invest in a company with a good product, but which is creating huge environmental harm and using child labor, as an example because it's becoming clear that, with the changing values and the influence of policy makers that these changing values are having, these companies are going to be regulated and taxed.

So the world has already started to shift.

TRAN

Sir Ronald and Eric discussed important issues about investing with impact. The key takeaway, in my view, aligns with the message from BlackRock’s CEO, Larry Fink.

CAPTION: Larry Fink: “The more your company can show its purpose in delivering value to its customers, its employees, and its communities, the better able you will be to compete and deliver long-term, durable profits for shareholders.”

The more your company can show its purpose in delivering value to its customers, its employees, and its communities, the better able you will be to compete and deliver long-term durable profits for shareholders.

We hope you’ll tune into Part 2 of our impact series where Sir Ronnie and Eric focus on the three forces driving change.

Exit animation & music

This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of May 25, 2021 and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. Past performance is no guarantee of future results. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.

Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an index. Investing involves risks, including possible loss of principal.  This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

© 2021 BlackRock, Inc. BlackRock is a trademark of BlackRock, Inc. All other trademarks are the property of their respective owners.

USRRMH0721U/S-1715117

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†Morningstar as of 6/30/2021. Rankings for all funds are for the Institutional share class. Performance for other share classes may vary. Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 1st quartile encompasses percentile rankings of 1-25; 2nd quartile encompasses percentile rankings of 26-50; 3rd quartile encompasses percentile rankings of 51-75; 4th quartile encompasses percentile rankings of 76-100. The following funds are ranked as follows: Mid-Cap Growth Equity: 1 Year 292/579; 3 Year 123/546; 5 Year 45/489; 10 Year 13/379. Large Cap Focus Growth: 1 Year 627/1,239; 3 Year 373/1,138; 5 Year 164/1,024; 10 Year 239/761. Equity Dividend: 1 Year 733/1,210; 3 Year 373/1,141; 5 Year 259/1,012; 10 Year 262/740. Health Sciences Opportunities: 1 Year 89/163; 3 Year 21/138; 5 Year 33/128; 10 Year 23/103. Technology Opportunities: 1 Year 75/249; 3 Year 8/215; 5 Year 4/182; 10 Year 6/157. Emerging Markets: 1 Year 172/789; 3 Year 54/701; 5 Year 42/602; 10 Year 54/306. International Fund: 1 Year 26/757; 3 Year 12/673; 5 Year 4/579; 10 Year 29/385. Advantage Small Cap Core: 1 Year 331/653; 3 Year 45/603; 5 Year 15/512; 10 Year /356. Advantage ESG U.S. Equity: 1 Year 279/1,386; 3 Year 162/1,257; 5 Year 70/1,099; 10 Year /820. High Equity Income: 1 Year 6/55; 3 Year 22/43; 5 Year 2/26; 10 Year 1/7; Mid Cap Dividend: 1 Year 148/414; 3 Year 44/395; 5 Year 49/346; 10 Year 76/246. 2 Ratings based on risk-adjusted total return, determined monthly and subject to change. Equity Dividend Fund rated against 1,141 Large Value Funds; Advantage Small Cap Core rated against 603 Small Blend Funds; Mid-Cap Growth Equity Fund rated against 546 Mid-Cap Growth Funds; Large Cap Focus Growth rated against 1,138 Large Growth Funds; Health Sciences Opportunities Fund rated against 138 Health Funds; Technology Opportunities rated against 215 Technology Funds; Emerging Markets Fund rated against 701 Diversified Emerging Markets Funds. International Fund rated against 673 Foreign Large Blend Funds; High Equity Income rated against 43 Derivative Income Funds. Mid Cap Dividend rated against 395 Mid-Cap Value Funds. Advantage ESG U.S. Equity rated against 1,257 Large Blend Funds. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. See important notes for additional information.