BAPCX : BlackRock LifePath Smart Beta 2020 Fund Investor A Shares

Fund Summary

The investment seeks to provide for retirement outcomes based on quantitatively measured risk. The advisor normally intends to invest primarily in affiliated open-end funds and affiliated exchange-traded funds. The fund is designed for investors expecting to retire or to begin withdrawing assets around the year 2020. At the time it reaches its target retirement date in 2020, the asset allocation of the fund is expected to be approximately 40% in underlying funds that invest in equity and 60% in underlying funds that invest in fixed income, and the target allocation may shift over time depending on market conditions.