BSIIX : BlackRock Strategic Income Opportunities Portfolio Institutional Shares

Fund Summary

The investment seeks total return as is consistent with preservation of capital. The fund normally invests in a combination of fixed income securities, including, but not limited to: high yield securities, international securities, emerging markets debt and mortgages. It may invest significantly in non-investment grade bonds (high yield or junk bonds). The fund may also invest significantly in non-dollar denominated bonds and bonds of emerging market issuers. It may invest up to 15% of its net assets in collateralized debt obligations, of which 10% (as a percentage of the fund's net assets) may be collateralized in loan obligations.