IMPORTANT:
• The Fund invests in other Collective Investment Schemes (“underlying CIS”) which may include those not regulated by the Securities and Futures Commission of Hong Kong (“SFC”). The underlying CIS may not achieve their investment objectives and strategies which may have negative impacts to the Fund’s net asset value (“NAV”). The Fund may incur additional costs when investing into underlying CIS.  Such underlying CIS may have insufficient liquidity to meet the Fund’s redemption requests. There may be potential conflicts of interest where the Fund invests in underlying CIS managed by one or more affiliates of the BlackRock Group.
• The Fund’s NAV may be adversely impacted by investing in index funds (including exchange traded funds (“ETFs”)), which are not actively managed and are subject to tracking error risk of the relevant underlying index’s returns. ETFs’ units may trade at a substantial premium or discount to the ETFs’ NAV due to market factors such as demand and supply, which may in turn adversely affect the Fund’s NAV.
• There is no assurance that the Fund will in all cases be within the target level of portfolio risk. When market risk levels change substantially over short periods, maintaining the target level of portfolio risk may have negative impact on the Fund’s NAV due to increased operating expenses.
• The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund may have exposure to debt securities that are subject to actual or perceived ratings downgrade. An increase in interest rates may adversely affect the value of the bonds. Investment in non-investment grade and unrated bonds may be subject to higher default, volatility and liquidity risks. Investment in bonds issued or guaranteed by governments or authorities may also involve political, economic, default or other risks. Investment in urban investment bonds issued by Chinese local government financing vehicles (“LGFVs”) are subject to default risk of the LGFVs.
• The Fund is subject to concentration risk in certain countries, regions or sectors, currency risks, securities lending counterparty risks, and currency conversion risk including Renminbi denominated Classes.
• Class 6 Shares and Class 10 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Paying dividends gross of expenses may result in more income being available for distribution; however these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
• The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
• The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
• Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.