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BlackRock Allocation Target Shares Mortgage Total Return Series BRAMX

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Strategy

The investment seeks to maximize total return, consistent with income generation and prudent investment management. Under normal circumstances, the fund seeks to invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in mortgage-related securities and derivatives that provide investment exposure to such securities or to one or more market risk factors associated with such securities.

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
BRAMX	BlackRock Allocation Target Shares Mortgage Total Return Series	No Load	Open	—	—	Sep 30, 2004	$1.33B	0.000%	Low	$0	−$4.71M

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