Fund Description

Incepted in September 1993, the fund is managed by BlackRock Advisors. The fund seeks income consistent with the preservation of capital. The fund invests primarily in bonds that allow it to maintain an average portfolio duration that is within +/-20% of the Lehman Brothers Intermediate Government/Credit Index. The fund normally invests at least 80% of its assets in bonds. The fund only buys securities that are rated investment grade at the time of purchase by at least one major rating agency or are determined by the fund management team to be of similar quality. The management team selects bonds from several categories including U.S. Treasuries and agency securities, commercial and residential mortgage-backed securities, asset-backed securities and corporate bonds. The fund offers dividends every month and capital gains annually.