BlackRock Unconstrained Equity Fund Institutional Shares 

The fund aims to achieve its financial goals through an actively managed strategy that invests in global stock markets. For the purpose of its investment policies, equity holdings are broadly defined to include common shares, preferred shares, convertible securities, warrants, depositary receipts, and other instruments whose value is linked to common stock performance. Under normal market conditions, a minimum of 80% of the fund's net assets will be allocated to these equity and equity-related investments. Notably, the fund is structured as a non-diversified portfolio.