BlackRock Systematic Asia Pacific Equity Absolute Return Fund

The Fund aims to achieve a positive absolute return through a combination of capital growth and income on your investment regardless of market conditions in a manner consistent with the principles of environmental, social and governance (ESG) investing. The Fund seeks to gain at least 70% of any investment exposure to equity securities (e.g. shares) of companies incorporated or listed in the Asia Pacific region. This is achieved by investing at least 70% of its assets in equity securities, equity-related securities and, when determined appropriate fixed income (FI) securities (such as bonds), money market instruments (MMIs) (i.e. debt securities with short-term maturities), deposits and cash. The Fund will take into account ESG criteria when selecting investments as disclosed in the prospectus. For further details please refer to the ESG Policy section of the Fund as set out in the prospectus and at the BlackRock website at www.blackrock.com/baselinescreens The equity-related securities include financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). The main type of FDI used by the Fund is contracts for difference which aim to achieve a specified return based on underlying assets such as equity securities. The FI securities and MMIs may be issued by governments, government agencies, companies and supranationals and may be investment grade (i.e. meet a specified level of credit worthiness), non-investment grade or unrated at the time of purchase. The IA intends to generate market leverage via FDIs (i.e. where the Fund gains market exposure in excess of the value of its assets). The amount of leverage may vary. The Fund is actively managed and the IA has discretion to select the Fund's investments. The 3 Month Secured Overnight Financing Rate (SOFR) compounded in arrears plus 26.1 basis point spread should be used by shareholders to compare the performance of the Fund. The price of equity securities fluctuates daily and may be influenced by factors affecting the performance of the individual companies issuing the equities, as well as by daily stock market movements, and broader economic and political developments which in turn may affect the value of your investment. The price of a derivative changes on a daily basis depending on the value of the underlying reference asset(s) which in turn may affect the value of your investment. A change in the value of underlying reference assets can have a greater impact on the value of derivatives than if the assets were held directly since derivatives can be more sensitive to changes in the value of underlying reference assets. The return on your investment in the Fund is directly related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”). The depositary of the Fund is State Street Bank International GmbH, Luxembourg Branch. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the BlackRock Strategic Funds. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the BlackRock website at: www.blackrock.com or by calling the International Investor Servicing team on +352 46268 5111. Your shares will be non-distributing (i.e. dividend income will be included in their value). Your shares will be denominated in US Dollar, the Fund's base currency. You can buy and sell your shares daily. The minimum initial investment for this share class is US$100,000 or other currency equivalent.