BLAIX : BlackRock LifePath® Smart Beta Retirement Fund Institutional Shares

Fund Summary

The investment seeks to provide for retirement outcomes based on quantitatively measured risk. In pursuit of the objective, the fund, which is a fund of funds, allocates and reallocates its assets among a combination of equity, fixed income and money market funds in proportions based on its own comprehensive investment strategy. It will be broadly diversified across global asset classes, and will generally seek to maintain an asset allocation of approximately 40% in underlying funds that invest in equity and 60% in underlying funds that invest in fixed income, although the allocation may shift over time depending on market conditions.