BlackRock GNMA Portfolio Investor C Shares

Over

Under normal circumstances, the fund invests at least 80% of its assets in Government National Mortgage Association ("GNMA") securities. It invests primarily in securities issued by GNMA as well as other U.S. government securities. Securities purchased by the fund are rated in the highest rating category (AAA or Aaa) 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.