BlackRock LifePath® Index 2050 Fund Institutional Shares 

This fund strategically manages its portfolio by investing in a diverse mix of other investment vehicles, specifically equity index funds, fixed-income index funds, and money market funds. The proportions of these underlying holdings are periodically adjusted in line with the fund's distinct, overarching investment strategy. Typically, a significant portion—at least 80%—of its total assets will be channeled into securities or other financial instruments that either directly comprise or exhibit comparable economic attributes to those found within its bespoke benchmark, the LifePath Index 2050 Fund Custom Benchmark.