BNMSX – BlackRock National Municipal Svc Investment Strategy | Morningstar

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Strategy

The investment seeks to provide shareholders with as high a level of income exempt from Federal income taxes as is consistent with the investment policies of the fund. The fund seeks to achieve its objective by investing at least 80% of its assets in municipal bonds. Although the advisor intends to invest at least 65% of the fund's net assets in municipal bonds rated investment grade or in unrated municipal bonds that fund management believes are of comparable quality, it is possible that in the future the fund could invest up to 100% of its assets in "junk bonds." It will primarily invest in municipal bonds that have a maturity of five years or longer.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
BNMSX	BlackRock National Municipal Fund Service Share	No Load	Open			Jul 15, 2011	$551,658.00	0.690%	High	$5,000	−$17,513.12
MANLX	BlackRock National Municipal Fund Institutional Shares	Institutional	Open			Nov 2, 1979	$2.76B	0.440%	Below Average	$2M	−$103.81M
BNMLX	BlackRock National Municipal Fund K Share	Institutional	Open			Jul 15, 2011	$1.11B	0.390%	Low	$5M	−$71.16M
MDNLX	BlackRock National Municipal Fund Investor A Shares	Front Load	Open			Oct 21, 1994	$1.36B	0.690%	Below Average	$1,000	−$303.74M
MFNLX	BlackRock National Municipal Fund Investor C Shares	Level Load	Open			Oct 2, 2006	$18.60M	1.440%	Average	$1,000	−$9.11M

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