BlackRock UK Special Situations Fund

The Fund aims to provide a return on your investment (generated through an increase in the value of the assets held by the Fund) over the long term (5 or more consecutive years beginning at the point of investment). The Fund invests at least 70% of its total assets in the equity securities (e.g. shares) of companies incorporated or listed in the United Kingdom and will normally have an emphasis on small and medium sized companies. Small and medium sized companies are companies which are not constituents of the FTSE 100 Index. The investment adviser (IA) may use derivatives (i.e. investments the prices of which are based on one or more underlying assets) to reduce risk within the Fund’s portfolio, reduce investment costs and generate additional income.