Fund Description

The fund invests at least 80% of net assets plus any investment borrowings in large cap growth equity securities of U.S. issuers and in derivatives providing exposure to such securities or related market risk factors. Eligible equities have market capitalizations within the Russell 1000 Growth Index range and are included in at least one BlackRock-determined growth index; such growth indices include the Russell 3000 Growth Index, the S&P Composite 1500 Growth Index and the MSCI World Growth Index. It primarily buys common stock, may also invest in preferred stock, convertible securities and IPOs, and may use options, futures, swaps and forward contracts to seek higher returns, hedge and manage cash flows. Portfolio construction uses proprietary quantitative return forecasts and optimization, with active, frequent trading.