Not FDIC Insured May Lose Value No Bank Guarantee

1 US Stocks are represented by the S&P 500 Index, which is an unmanaged index that covers 500 industrial, utility, transportation and financial companies of the US markets (mostly
New York Stock Exchange (the NYSE) issues), representing about 75% of NYSE market capitalization and 30% of NYSE issues. 2 World Stocks are represented by the FTSE World
Index, which is a broad-based capitalization-weighted index comprised of 2,200 equities from 24 countries in 12 regions, including the United States. 3 World Government Bonds are
represented by the Citigroup World Government Bond Index, which includes the most significant and liquid government bond markets globally that carry at least an investment-grade
rating. Currently, this includes all countries in the Citigroup EMU Governments Index (EGBI) and Australia, Canada, Denmark, Japan, Sweden, Switzerland, United Kingdom and the
United States. Index weights are based on the market capitalization of qualifying outstanding debt stocks. 4 The Internal Reference Benchmark consists of 36% S&P 500 Index, 24%
FTSE World (ex.-US), 24% BofA ML 5-Year US Treasury Bond Index and 16% Citigroup Non-US Dollar World Government Bond Index. The FTSE World Index ex-US is an unmanaged
capitalization-weighted index comprised of 1,630 companies in 28 countries, excluding the United States. The BofA ML 5-Year US Treasury Bond Index is an unmanaged index designed
to track the total return of the current coupon 5-Year US Treasury bond. The Citigroup Non-USD World Government Bond Index is an unmanaged, market capitalization-weighted
index that tracks 10 government bond indices, excluding the United States. 5 Lipper average returns are according to Lipper, Inc. Lipper Global Flexible Portfolio Category Average
classification consists of all funds tracked by Lipper that allocate their investments across various asset classes, including both domestic and foreign stocks, bonds and money market
instruments, with a focus on total return. At least 25% of each fund is invested in securities traded outside the United States, including shares of gold mines, gold-oriented mining finance
houses, gold coins or bullion. The average reflects the average total return performance of those funds that make up the investment classification and does not take sales charges
into consideration. 6 Cash is represented by the BofA ML US Treasury Bill 3-Month Index, which is an unmanaged index based on the value of a 3-month Treasury bill assumed to
be purchased at the beginning of the month and rolled into another single issue at the end of the month. US Treasury securities are direct obligations of the US government and are
guaranteed by the US government. Indices are not available for direct investment.
This brochure must be accompanied by the BlackRock Global Allocation Funds most recent quarterly fund fact sheet.
You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and,
if available, the summary prospectus contain this and other information about the fund, and are available, along with information on
other BlackRock funds by calling 800-882-0052 or from your financial professional. The prospectus and, if available, the summary
prospectus should be read carefully before investing.
FOR MORE INFORMATION: www.blackrock.com
2012 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are
those of their respective owners.
Prepared by BlackRock Investments, LLC, member FINRA.
Lit. No. GA-BR-1112 OE6000-1112 / USR-0813
GLOBAL ALLOCATI ON FUND
A PORTFOLIO FOR ALL SEASONS
[ 2 ] GLOBAL AL LOCAT I ON FUND
A Portfolio for All Seasons
Global economies are more interconnected than ever. At BlackRock, we believe
this changing global landscape presents investors with an opportunity to shift
their investment perspective, establishing a global strategy as the core of their
investment portfolios.
For more than 23 years, the BlackRock Global Allocation Fund has helped
investors achieve their long-term nancial goals:
Equity
(Small-, Mid-
and Large-
Capitalization)
Fixed Income
(Across
Quality and
Maturity)
Tactical
(Regional and/or Sector)
BlackRock
Global
Allocation
Fund
International
(Equity and Fixed Income)
BUILDING A PORTFOLIO
AROUND THE BLACKROCK
GLOBAL ALLOCATION FUND
A CORE-SATELLITE APPROACH
A core-satellite approach to portfolio construction provides a framework for
implementing an asset allocation model. Establishing a core portfolio that is
highly diversied among asset classes, market capitalizations and regions can
help protect investors during market downturns, while participating in positive
markets. Investors can enhance and further customize their core portfolios by
adding tactical satellite investments, which are designed to opportunistically
take advantage of market trends or special investment situations.
1
Unconstrained
in Search of
Opportunity
2
The Most
Experienced
Global Multi-
Asset Team*
3
Proven Record
of Protecting
and Growing
Assets
* Source: Morningstar. Portfolio managers have
the longest tenure among funds within its category.
A PORT FOL I O FOR AL L SE ASONS [ 3 ]
The BlackRock Global Allocation Fund is a highly diversied, actively managed
fund. Its exible investment mandate enables the funds management team to
seek the best opportunities across the globe. The fund typically invests in more
than 700 securities across domestic and international stocks, bonds and cash,
allowing the fund to manage risk through diversication.
The chart below illustrates how the fund has performed relative to various indices
through different market environments. The fund has provided more downside
protection in bear marketssuch as the technology bubble and global credit
crisisthan US and world stocks, and has participated more favorably in bull
markets, such as the global market recovery, relative to US stocks and world
government bonds.
SEEKING TO REWARD
AND PRESERVE OVER
THE LONG TERM
BlackRock Global Allocation
Fund Investor A shares
outperformed US and world
stocks and government
bonds over a combination
of weaker and stronger
market environments.
-50
0
50
100
150%
Market Recovery
1/1/0312/31/07
Technology Bubble
1/1/0012/31/02
Global Credit Crisis
1/1/0812/31/11
Combined Period
1/1/0012/31/11
Internal Reference Benchmark
4
BlackRock Global Allocation (A with maximum sales charge)
World Stocks
2
BlackRock Global Allocation (A at NAV)
US Stocks
1
World Govt. Bonds
3
1
.
8
0
-
3
9
.
5
6
2
0
.
1
9
-
1
6
.
8
8
-
3
.
5
4
*
1
3
1
.
9
8
1
3
3
.
9
2
3
9
.
0
3
7
9
.
6
7
1
3
1
.
9
8

1
4
1
.
4
9
1
8
.
2
0
1
1
2
.
5
6
5
5
.
6
6
1
2
8
.
5
6
*
2
.
1
9
-
1
6
.
2
8
2
7
.
1
8
4
.
2
3
2
.
1
9

8
2
.
8
3
-
6
.
4
0
-
3
7
.
5
9
6
.
8
0
PERFORMANCE THROUGH MARKET CYCLES
% Cumulative Total Returns 20002011
Sources: Lipper; Bloomberg. All data through 12/31/11. * Maximum initial sales charge of 5.25% for Investor A shares deducted at the beginning of investment period only on
1/1/00. Total return is based on net asset value (NAV) and assumes initial investment on 1/1/00. 1 US Stocks are represented by the S&P 500 Index. 2 World Stocks are
represented by the FTSE World Index. 3 World Govt. Bonds are represented by the Citigroup World Government Bond Index. 4 The Internal Reference Benchmark consists of 36%
S&P 500 Index, 24% FTSE World (ex.-US), 24% BofA ML 5-Year US Treasury Bond Index and 16% Citigroup Non-US Dollar World Government Bond Index. Refer to footnotes on
back cover for benchmark definitions.
Performance data quoted represents past performance and does not guarantee future results. Investment return and principal value
of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost.
Current performance may be lower or higher than the performance data quoted. Refer to www.blackrock.com to obtain performance
data current to the most recent month-end. All returns assume reinvestment of all dividends and capital gains distributions. Available
in multiple share classes with different sales charges, ongoing account maintenance and distribution fees. Index performance shown
is for illustrative purposes only. You cannot invest directly in an index. This brochure must be accompanied by the BlackRock Global
Allocation Funds most recent quarterly fund fact sheet.
Unconstrained in
Search of Opportunity 1
[ 4 ] GLOBAL AL LOCAT I ON FUND
The Global Allocation Team consists of more than 40 professionals committed
to the management and administration of the fund. Portfolio managers Dennis
Stattman, CFA, Dan Chamby, CFA, and Aldo Roldan, PhD, oversee the overall asset
mix, geography, industry and currency allocation strategies. The team includes
10 senior analysts and 10 research associates. The senior analysts have a wide
degree of exibility in the development of investment ideas and have both equity
and xed income expertise. Strong team interaction and use of BlackRocks
worldwide resources for investment ideas, fundamental analysis, technology
and risk analysis drive performance.
INVESTMENT PROCESS
Universe
Global stocks and bonds (across all company sizes and qualities) and
cash equivalents.
Research
The team generates investment ideas by analyzing market trends, central bank
policies, demographics and corporate nancial statements and meeting with
company management.
Asset Allocation
Top-down consideration of asset classes, regions and industries, combined with
bottom-up security selection. The funds reference benchmark is 60% equities,
40% xed income and 60% US, 40% non-US.
Portfolio Construction
Identify investments that the team believes offer the best risk/return trade-
off. Typically more than 700 holdings, broadly diversied.
Sell Discipline
} Valuation signicantly above historic averages.
} Change in company fundamentals.
} Risk impact on fund.
The investment process described for the fund in this brochure represents the fund managers current process for
selecting investments in the funds portfolio in accordance with the funds stated investment objectives and policies.
Processes are subject to change based on market conditions, the opinions of the portfolio manager and other factors.

We have the exibility
to go wherever in the
world we nd the best
investment opportunity
and believe in the power
of diversication to
limit risk.

The Most Experienced

Global Multi-Asset Team 2
- Dennis Stattman,
Portfolio Manager
Pictured left to right, Portfolio Managers
Dan Chamby, Aldo Roldan and
Dennis Stattman.
A PORT FOL I O FOR AL L SE ASONS [ 5 ]
PORTFOLIO MANAGEMENT TEAM
Our three portfolio managers have more than 80 years of cumulative experience.
Many of the teams portfolio managers and senior analysts have worked together
for at least a decade.
Dennis Stattman, CFA
Portfolio Manager
32 years experience
Dan Chamby, CFA
Portfolio Manager
24 years experience
Aldo Roldan, PhD
Portfolio Manager
28 years experience
Kevin McKenna
Co-Chief Operating Ofcer
29 years experience
Lisa ODonnell, JD
Co-Chief Operating Ofcer
25 years experience
Mike Trudel, CFA, JD
Global Strategist
15 years experience
Quantitative Strategy
Randy Berkowitz
Sam Indyawan
Senior Analysts
Ben Moyer, CFA
31 years experience
Eric Mitofsky
29 years experience
Karen Morely-Wescott, CFA
26 years experience
Kate Brady-Rauscher, CFA
26 years experience
Lisa Walker, CFA
26 years experience
Greg Spencer
23 years experience
David Clayton, CFA, JD
22 years experience
Michael Walsh, CFA
21 years experience
Patrick Edelmann, CFA
13 years experience
Kent Hogshire, CFA
12 years experience
Product and
Research Strategy
Judy Rice
Erica Quinn, CFA
Reid Ross, CFA
Research Associates
Kevin Bynum, CFA
Miguel Crivelli, CFA
Daniel Daniel, CFA, CMT
Martin Fransson, PhD, CFA
Lindsay Klitsch, CFA
Matt Litwin
Jonathan Lux, CFA
Chirayu Patel, CFA
Sonia Wang, CFA
Angela Yu, CFA
Portfolio Transactions
Marie Dwyer
Pete Mathern
Kim Moore
Mike Carlucci
THE BLACKROCK GLOBAL
ALLOCATION TEAM
[ 6 ] GLOBAL AL LOCAT I ON FUND
0
40,000
$80,000
1998
LONG-TERM CAPITAL
MANAGEMENT FAILURE
1989
S&L CRISIS
1991
GULF WAR
1993
FORMATION OF EU
1995
OKLAHOMA CITY
BOMBING
1997
ASIAN STOCK
MARKET CRISIS
2000
PEAK OF
TECHNOLOGY BUBBLE
2001
SEPTEMBER 11
2003
WAR IN IRAQ
BEGINS
2007
SUBPRIME LOAN
ISSUES EMERGE
2008
GLOBAL CREDIT
CRISIS BEGINS
2010
EUROPEAN DEBT
CRISIS DEEPENS
Yearly Total Returns (%) 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Global Allocation: A* 15.32 1.62 28.43 11.91 20.71 -2.15 23.29 15.96 11.12 0.37 27.43 8.57 1.88 -7.96 35.98 14.27 10.33 15.94 16.71 -20.56 21.64 9.85 -3.71
Lipper Average
5
14.76 -1.91 20.67 6.18 22.97 -2.44 20.26 14.79 14.27 6.25 34.44 1.13 -3.24 -8.11 32.57 15.37 11.25 13.16 12.51 -29.03 26.90 11.23 -5.16
Internal Ref. Benchmark
4
14.68 -2.26 20.53 1.67 16.05 2.49 23.00 10.85 12.93 19.99 13.15 -4.34 -7.80 -5.77 23.24 11.57 4.15 13.76 10.30 -21.88 19.22 11.06 0.77
World Govt. Bonds
3
5.80 11.98 15.81 5.53 13.27 2.35 19.04 3.62 0.23 15.31 -4.27 1.59 -0.99 19.49 14.91 10.35 -6.88 6.12 10.95 10.89 2.55 5.17 6.35
World Stocks
2
14.12 -17.06 19.67 -5.14 22.60 5.83 19.61 13.21 15.39 23.04 26.00 -11.08 -16.14 -19.06 33.91 16.06 11.32 21.47 11.32 -40.91 34.38 12.73 -6.48
Cash
6
7.53 8.42 6.38 3.93 3.19 4.19 6.03 5.31 5.33 5.23 4.85 6.18 4.42 1.78 1.15 1.33 3.06 4.86 5.00 2.06 0.20 0.13 0.13
Historical Fund Asset Allocation (%)
Equities 45 55 53 39 36 39 32 34 40 49 55 60 66 63 60 56 61 55 57 58 58 64 64
Fixed Income 49 40 44 40 43 59 55 41 49 50 34 31 26 21 21 20 23 31 32 32 31 28 27
Cash Equivalents 6 5 3 21 21 2 13 25 11 1 11 9 8 16 19 24 16 14 11 10 11 8 9
Performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than performance data quoted. This illustration should be read along with the average annual total returns for the 1-, 5- and 10-year periods
depicted in the enclosed fund fact sheet. It is not possible to invest directly in an index. Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions. The two main risks related to fixed income investing are interest rate risk and
credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to make principal and interest payments. International investing involves risks, including risks
related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. Investments in non-investment-grade debt securities (high-yield bonds or junk bonds) may be subject to
greater market fluctuations and risk of default or loss of income and principal than securities in higher rating categories. Asset allocation strategies do not ensure profit and do not protect against loss. Short-selling entails special risks. If the fund makes short sales in securities that
increase in value, the fund will lose value. Any loss on short positions may or may not be offset by investing short-sale proceeds in other investments.
Sources: BlackRock; Lipper, Inc.; Bloomberg. * Based on a hypothetical investment of $10,000 in Investor A shares on 2/28/89 with an initial sales charge of 5.25%, resulting in a net investment of $9,475, and assuming reinvestment of all distributions. Performance for other share classes will vary. The actual inception date for Investor A shares is 10/21/94. Total returns for periods prior to Investor A
inception are based on the funds Institutional share returns, adjusted to reflect the higher A share fees. The inception date for the Institutional shares is 2/3/89. This information may be considered when assessing the funds performance, but does not represent actual performance of the share class. Refer to footnotes on back cover for benchmark definitions.
Proven Record of Protecting
and Growing Assets 3
A PORT FOL I O FOR AL L SE ASONS [ 7 ]
0
40,000
$80,000
1998
LONG-TERM CAPITAL
MANAGEMENT FAILURE
1989
S&L CRISIS
1991
GULF WAR
1993
FORMATION OF EU
1995
OKLAHOMA CITY
BOMBING
1997
ASIAN STOCK
MARKET CRISIS
2000
PEAK OF
TECHNOLOGY BUBBLE
2001
SEPTEMBER 11
2003
WAR IN IRAQ
BEGINS
2007
SUBPRIME LOAN
ISSUES EMERGE
2008
GLOBAL CREDIT
CRISIS BEGINS
2010
EUROPEAN DEBT
CRISIS DEEPENS
Yearly Total Returns (%) 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Global Allocation: A* 15.32 1.62 28.43 11.91 20.71 -2.15 23.29 15.96 11.12 0.37 27.43 8.57 1.88 -7.96 35.98 14.27 10.33 15.94 16.71 -20.56 21.64 9.85 -3.71
Lipper Average
5
14.76 -1.91 20.67 6.18 22.97 -2.44 20.26 14.79 14.27 6.25 34.44 1.13 -3.24 -8.11 32.57 15.37 11.25 13.16 12.51 -29.03 26.90 11.23 -5.16
Internal Ref. Benchmark
4
14.68 -2.26 20.53 1.67 16.05 2.49 23.00 10.85 12.93 19.99 13.15 -4.34 -7.80 -5.77 23.24 11.57 4.15 13.76 10.30 -21.88 19.22 11.06 0.77
World Govt. Bonds
3
5.80 11.98 15.81 5.53 13.27 2.35 19.04 3.62 0.23 15.31 -4.27 1.59 -0.99 19.49 14.91 10.35 -6.88 6.12 10.95 10.89 2.55 5.17 6.35
World Stocks
2
14.12 -17.06 19.67 -5.14 22.60 5.83 19.61 13.21 15.39 23.04 26.00 -11.08 -16.14 -19.06 33.91 16.06 11.32 21.47 11.32 -40.91 34.38 12.73 -6.48
Cash
6
7.53 8.42 6.38 3.93 3.19 4.19 6.03 5.31 5.33 5.23 4.85 6.18 4.42 1.78 1.15 1.33 3.06 4.86 5.00 2.06 0.20 0.13 0.13
Historical Fund Asset Allocation (%)
Equities 45 55 53 39 36 39 32 34 40 49 55 60 66 63 60 56 61 55 57 58 58 64 64
Fixed Income 49 40 44 40 43 59 55 41 49 50 34 31 26 21 21 20 23 31 32 32 31 28 27
Cash Equivalents 6 5 3 21 21 2 13 25 11 1 11 9 8 16 19 24 16 14 11 10 11 8 9
Performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than performance data quoted. This illustration should be read along with the average annual total returns for the 1-, 5- and 10-year periods
depicted in the enclosed fund fact sheet. It is not possible to invest directly in an index. Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions. The two main risks related to fixed income investing are interest rate risk and
credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to make principal and interest payments. International investing involves risks, including risks
related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. Investments in non-investment-grade debt securities (high-yield bonds or junk bonds) may be subject to
greater market fluctuations and risk of default or loss of income and principal than securities in higher rating categories. Asset allocation strategies do not ensure profit and do not protect against loss. Short-selling entails special risks. If the fund makes short sales in securities that
increase in value, the fund will lose value. Any loss on short positions may or may not be offset by investing short-sale proceeds in other investments.
Sources: BlackRock; Lipper, Inc.; Bloomberg. * Based on a hypothetical investment of $10,000 in Investor A shares on 2/28/89 with an initial sales charge of 5.25%, resulting in a net investment of $9,475, and assuming reinvestment of all distributions. Performance for other share classes will vary. The actual inception date for Investor A shares is 10/21/94. Total returns for periods prior to Investor A
inception are based on the funds Institutional share returns, adjusted to reflect the higher A share fees. The inception date for the Institutional shares is 2/3/89. This information may be considered when assessing the funds performance, but does not represent actual performance of the share class. Refer to footnotes on back cover for benchmark definitions.
GROWTH OF A HYPOTHETICAL $10 ,000 INVESTMENT FROM 2/28/89 TO 12/31/11*
As the chart illustrates, since its inception in 1989, the BlackRock Global Allocation Fund
(Investor A shares) has outperformed its peer group, its internal reference benchmark, world
government bonds, world stocks and cash investments.
$92,512
Global Allocation
Fund: A*
$66,220
Lipper Avg.
5
$53,169
Ref. Benchmark
4
$48,694
World Govt. Bonds
3
$39,918
World Stocks
2
$24,213
Cash
6
[ 8 ] GLOBAL AL LOCAT I ON FUND

Year

Initial Investment
Withdrawals on
December 31

Investment Value*
2/28/89 $100,000 $97,000
12/31/89 $6,000 $105,864
12/31/90 $ 6,180 $101,407
12/31/91 $6,365 $123,882
12/31/92 $6,556 $132,101
12/31/93 $6,753 $152,688
12/31/94 $6,956 $142,447
12/31/95 $7,164 $168,470
12/31/96 $7,379 $187,964
12/31/97 $7,601 $201,250
12/31/98 $7,829 $194,172
12/31/99 $8,063 $239,363
12/31/00 $8,305 $251,569
12/31/01 $8,555 $247,799
12/31/02 $8,811 $219,256
12/31/03 $9,076 $289,079
12/31/04 $9,348 $321,039
12/31/05 $9,628 $344,658
12/31/06 $9,917 $389,728
12/31/07 $10,215 $444,571
12/31/08 $10,521 $342,607
12/31/09 $10,837 $405,835
12/31/10 $11,162 $434,667
12/31/11 $11,497 $407,072
Total value as of 12/31/11 $194,718 $407,072
Sources: BlackRock; Lipper, Inc.
SUPPLEMENTING RETIREMENT INCOME
The BlackRock Global Allocation Fund offers investors an efcient way to supplement
retirement income and other long-term goals. As illustrated below, the BlackRock
Global Allocation Fund (Investor A shares) has generated a steady stream of income
that kept pace with ination, while still growing investment principal.
The $100,000 hypothetical lump-sum investment yielded a total of $194,718
through annual withdrawals and still had an ending value of $407,072 in
December of 2011.
This illustration should be read along with the average annual total returns for the 1-, 5- and 10-year periods depicted in the enclosed
fund fact sheet.
Past performance does not guarantee future results. * Growth of a hypothetical $100,000 investment on February 28, 1989 and
assumed reinvestment of all distributions with yearly $6,000 (6%) withdrawals. The withdrawals were increased by 3% each year to
compensate for inflation. Since the associated sales charge of 3% was taken out of the $100,000 up front, the net investment was
$97,000. Returns for periods prior to Investor A inception (10/21/94) are based on the funds Institutional share (inception: 2/3/89)
returns adjusted to reflect the higher Investor A share fees.
PROVIDED HEALTHY
WITHDRAWALS WHILE
STILL GROWING ASSETS
TOTAL INVESTMENT:
$100,000
TOTAL WITHDRAWALS:
$194,718
ENDING VALUE:
$407,072
A PORT FOL I O FOR AL L SE ASONS [ 9 ]
SAVING FOR COLLEGE
As a highly diversied core holding, the BlackRock Global Allocation Fund is an
attractive option for a college savings plan. As illustrated in the table below, a
hypothetical annual investment of $5,000 for 10 years to save for college and
withdrawals of $30,000 annually for tuition to a 4-year college or university yielded
a substantial investment that can potentially provide for other life events.
Sources: BlackRock; Lipper, Inc.

Year
Initial Investment
Beginning of Year
Withdrawals on
December 31
Investment Value*
End of Year
1991 $5,000

$6,084
1992 $5,000

$12,111
1993 $5,000

$20,338
1994 $5,000

$24,536
1995 $5,000

$36,122
1996 $5,000

$47,410
1997 $5,000

$58,015
1998 $5,000

$63,048
1999 $5,000

$86,458
2000 $5,000

$99,079
2001 $100,942
2002 $92,907
2003 $126,335
2004 $144,363
2005 $159,276
2006 $184,664
2007 $215,522
2008 $30,000 $141,210
2009 $30,000 $141,768
2010 $30,000 $125,732
2011 $30,000 $91,080
Total value as of 12/31/11 $50,000 $120,000 $91,080
This illustration should be read along with the average annual total returns for the 1-, 5- and 10-year periods depicted in the
enclosed fund fact sheet.
Past performance does not guarantee future results. * Based on a hypothetical investment in Investor A shares and assumed
reinvestment of all distributions. Returns for periods prior to Investor A inception (10/21/94) are based on the funds Institutional
share (inception 2/3/89) returns adjusted to reflect the higher Investor A share fees. Since the sales charge of 5.25% (the
maximum sales charge) was taken out of the $5,000 up front, the net investment was $4,737.50. Since the sales charge of
4.75% (reflecting the reduced sales charge for account values of $25,000 to $49,999) was taken out of the $5,000 up front, the
net investment was $4,762.50. Since the sales charge of 4.00% (reflecting the reduced sales charge for account values of
$50,000 to $99,999) was taken out of the $5,000 up front, the net investment was $4,800.
TOTAL INVESTMENT:
$50,000 ($5,000 OVER
A 10-YEAR PERIOD)
TOTAL WITHDRAWALS:
$120,000 ($30,000
ANNUALLY 20082011)
ENDING VALUE:
$91,080
FUND COLLEGE
TUITION AND GROW
YOUR ASSET BASE
OVER TIME
[ 1 0 ] GLOBAL AL LOCAT I ON FUND
BlackRock Global
Allocation Fund
For more than 23 years, the highly diversied BlackRock Global Allocation Fund
has helped provide investors with a solid foundation for their long-term
investment portfolios.
Unconstrained in Search of Opportunity
A go-anywhere, exible investment solution that typically invests in more than
700 securities, across 40 countries in 30 currencies across traditional and
non-traditional asset classes, sectors and capital structures.
The Most Experienced Global Multi-Asset Team
A seasoned management team, comprised of more than 40 dedicated professionals
with over 300 years of combined experience, employs a research-intensive approach
that combines a fundamental, bottom-up process with top-down asset allocation
in order to nd undervalued investment opportunities around the globe.
Proven Record of Protecting and Growing Assets
Over its 23-year history, the fund has delivered returns in excess of global
stocks and bonds with one-third less volatility than global equity markets,
providing investors a long history of protecting on the downside and rewarding
on the upside.
Talk to your nancial professional today about making the BlackRock Global
Allocation Fund the core of your investment portfolio. You can begin investing
today in the BlackRock Global Allocation Fund with a minimum $1,000 investment
and subsequent purchases of $50 or more.
TALK TO YOUR FINANCIAL
PROFESSIONAL TODAY
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1 US Stocks are represented by the S&P 500 Index, which is an unmanaged index that covers 500 industrial, utility, transportation and financial companies of the US markets (mostly
New York Stock Exchange (the NYSE) issues), representing about 75% of NYSE market capitalization and 30% of NYSE issues. 2 World Stocks are represented by the FTSE World
Index, which is a broad-based capitalization-weighted index comprised of 2,200 equities from 24 countries in 12 regions, including the United States. 3 World Government Bonds are
represented by the Citigroup World Government Bond Index, which includes the most significant and liquid government bond markets globally that carry at least an investment-grade
rating. Currently, this includes all countries in the Citigroup EMU Governments Index (EGBI ) and Australia, Canada, Denmark, Japan, Sweden, Switzerland, United Kingdom and the
United States. Index weights are based on the market capitalization of qualifying outstanding debt stocks. 4 The Internal Reference Benchmark consists of 36% S&P 500 Index, 24%
FTSE World (ex.-US), 24% BofA ML 5-Year US Treasury Bond Index and 16% Citigroup Non-US Dollar World Government Bond Index. The FTSE World Index ex-US is an unmanaged
capitalization-weighted index comprised of 1,630 companies in 28 countries, excluding the United States. The BofA ML 5-Year US Treasury Bond Index is an unmanaged index designed
to track the total return of the current coupon 5-Year US Treasury bond. The Citigroup Non-USD World Government Bond Index is an unmanaged, market capitalization-weighted
index that tracks 10 government bond indices, excluding the United States. 5 Lipper average returns are according to Lipper, Inc. Lipper Global Flexible Portfolio Category Average
classification consists of all funds tracked by Lipper that allocate their investments across various asset classes, including both domestic and foreign stocks, bonds and money market
instruments, with a focus on total return. At least 25% of each fund is invested in securities traded outside the United States, including shares of gold mines, gold-oriented mining finance
houses, gold coins or bullion. The average reflects the average total return performance of those funds that make up the investment classification and does not take sales charges
into consideration. 6 Cash is represented by the BofA ML US Treasury Bill 3-Month Index, which is an unmanaged index based on the value of a 3-month Treasury bill assumed to
be purchased at the beginning of the month and rolled into another single issue at the end of the month. US Treasury securities are direct obligations of the US government and are
guaranteed by the US government. Indices are not available for direct investment.
This brochure must be accompanied by the BlackRock Global Allocation Funds most recent quarterly fund fact sheet.
You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and,
if available, the summary prospectus contain this and other information about the fund, and are available, along with information on
other BlackRock funds by calling 800-882-0052 or from your financial professional. The prospectus and, if available, the summary
prospectus should be read carefully before investing.
FOR MORE INFORMATION: www.blackrock.com
2012 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are
those of their respective owners.
Prepared by BlackRock Investments, LLC, member FINRA.
Lit. No. GA-BR-1112 OE6000-1112 / USR-0813
GLOBAL ALLOCATION FUND
A PORTFOLIO FOR ALL SEASONS
www.blackrock.com
Fact Sheet
Global Allocation Fund
2
0
1
2
Investor A: MDLOX Investor C: MCLOX Institutional: MALOX Class R: MRLOX
Fund Highlights
Unconstrained in Search of Opportunity: A go-anywhere, flexible investment solution that
typically invests in more than 700 securities, across 40 countries in 30 currencies across
traditional and non-traditional asset classes, sectors and capital structures.
The Most Experienced Global Multi-Asset Team: A seasoned management team, comprised of
more than 40 dedicated professionals with over 300 years of combined experience, employs a
research-intensive approach that combines a fundamental, bottom-up process with top-down
asset allocation in order to find undervalued investment opportunities around the globe.
Proven Record of Protecting and Growing Assets: Over its 23 year history, the fund has delivered
returns in excess of global stocks and bonds with 1/3 less volatility than global equity markets,
providing investors a long history of protecting on the downside and rewarding on the upside.
%Average Annual Total Returns (9/30/12)
1
10.17 10.67 2.24 5.45 12.83 Class R
10.73 11.25 2.87 6.12 13.60 Institutional
9.61 10.11 1.82 5.04 12.42 Investor C
10.45 10.96 2.59 5.83 13.29 Investor A
Inception
2
10 Years 5 Years 3 Years 1 Year Without Sales Charge
9.61 10.11 1.82 5.04 11.42 Investor C
10.20 10.36 1.49 3.94 7.34 Investor A
Inception
2
10 Years 5 Years 3 Years 1 Year With Sales Charge
8.10 2.81 8.00 15.78 Internal Ref. Benchmark
6
6.71 6.45 4.29 3.29 Citigroup World Govt. Bond
5
9.16 -1.38 7.75 21.98 FTSE World
4
8.29 1.55 7.19 13.75 Morningstar Avg.
8.01 0.70 6.15 12.80 Lipper Avg.
3
%Calendar Year Returns (Fund Performance Without Sales Charges)
1
4.71 8.17 -4.01 9.45 21.26 -20.83 16.33 Class R
4.91 8.70 -3.43 10.15 21.99 -20.35 17.00 Institutional
4.64 7.85 -4.40 9.00 20.81 -21.21 15.85 Investor C
4.84 8.48 -3.71 9.85 21.64 -20.56 16.71 Investor A
3Q12 YTD 2011 2010 2009 2008 2007
4.95 9.80 0.77 11.06 19.22 -21.88 10.30 Internal Ref. Benchmark
6
2.99 3.41 6.35 5.17 2.55 10.89 10.95 Citigroup World Govt. Bond
5
7.02 13.56 -6.48 12.73 34.38 -40.91 11.32 FTSE World
4
4.86 8.77 -3.99 10.58 24.37 -28.98 11.39 Morningstar Avg.
4.71 8.40 -5.16 11.23 26.90 -29.03 12.51 Lipper Avg.
3
Performance data quoted represents past performance and is no guarantee of future results.
Investment returns and principal values may fluctuate so that an investors shares, when
redeemed, may be worth more or less than their original cost. Current performance may be lower or
higher than that shown. All returns assume reinvestment of all dividend and capital gain distribu-
tions. Refer to www.blackrock.com for current month-end performance. Inception date and
restated performance for R shares are based on Institutional shares. Index performance is shown
for illustrative purposes only. You cannot invest directly in an index.
The share classes have different sales charges, ongoing account maintenance and distribution fees and other features. Average annual total returns with
sales charge reflect the deduction of current maximum initial sales charge of 5.25% for Investor A shares and applicable contingent deferred sales
charges (CDSC) for Investor C shares. The maximum CDSC of 1% for Investor C shares is reduced to 0% after 1 year. Institutional shares and Class R
shares, if applicable, have no front- or back-end load.
Minimum initial investment for Institutional shares is $2 million. Institutional shares also are available to clients of registered investment advisors with
$250,000 invested in the fund, and offered to participants in various wrap fee programs and other sponsored arrangements at various minimums.
Lipper Classification
3
Global Flexible Portfolio Funds
Morningstar Category
World Allocation
Overall Morningstar RatingInstitutional

Rated against 258 World Allocation Funds, as of 9/30/12, based on risk-

adjusted total return. Ratings are determined monthly and subject to
change. The Overall Morningstar Rating for a fund is derived from a
weighted average of the performance figures associated with its 3-, 5-
and 10-year (if applicable) Morningstar Rating metrics.

Objective
Seeks to provide high total return.
Risk Measures (3-year)
7
0.43 0.50 Sharpe Ratio
94.23% R-Squared
1.00 0.63 Beta
17.60% 11.34% Standard Deviation
Benchmark
4
Fund
Portfolio Statistics

Semi-
Annual Dividend Frequency
$53.7 B Size of Fund
$79.4 B $76.0 B Weighted Avg. Mkt. Cap
2,313 535 Number of Issuers
12/31/93 2/3/89
2
Inception Date
Benchmark
4
Fund
Annual Operating Expenses (%of Assets)
1.38 1.49 Class R
0.78 0.89 Institutional
1.81 1.92 Investor C
1.06 1.16 Investor A
Net Total
Expenses stated as of the fund's most recent
prospectus. Net operating expenses exclude
investment interest expenses, acquired fund
fees and certain other fund expenses net of all
waivers and reimbursements. Investor A,
Investor C, Institutional and Class R have vol-
untary waivers terminable at any time without
notice.
Lipper and Morningstar Rankings (9/30/12)
3
Quartile Rankings Lipper Rankings
10 Year 5 Year 3 Year 1 Year 10 Year 5 Year 3 Year 1 Year
Out of 51 Out of 113 Out of 191 Out of 347
1 1 3 2 6 20 105 158 Institutional
1 1 3 2 8 25 117 168 Investor A
Quartile Rankings Morningstar Rankings
Out of 85 Out of 171 Out of 258 Out of 468
1 2 3 3 7 45 190 266 Institutional
1 2 4 3 10 58 202 279 Investor A
Lipper Category: Global Flexible Portfolio Funds. As of 9/30/12 and may not accurately represent the current composition of the portfolio. All share
classes of the fund are invested in a common portfolio. Lipper rankings are based on total return excluding sales charges. Data shown represents past
performance and is not an indication of future results. Morningstar Category: World Allocation.
Geographic Allocation (%of Net Assets)
United States 44.6
Developed Europe 15.1
Asia Pacific ex-Japan 5.5
Japan 5.3
Emerging Asia 4.2
Latin America 3.9
Canada 3.2
Africa/Middle East 1.1
Emerging Europe 0.7
Cash/Cash Equivalents 16.4
Asset Allocation (%of Net Assets)
US Stocks 34.8
Non-US Stocks 24.8
Cash/Cash Equivalents*
16.4
Non-US Bonds 14.1
US Bonds 9.9
*Actively managed as part of the funds investment strategy. Can be
considered Zero Duration Fixed Income; includes US dollar and non-US
dollar short-term securities and other money-market type instruments.
Top 10 Equity Holdings (%of Net Assets)
0.6 Qualcomm 10.
0.6 Samsung 9.
0.6 Pfizer 8.
0.6 Johnson & Johnson 7.
0.6 Occidental Petroleum 6.
0.6 AT&T 5.
0.7 General Electric 4.
0.9 Oracle 3.
1.7 Apple 2.
1.8 SPDR Gold Shares 1.
Portfolio Management
Aldo Roldan, PhD
Dan Chamby Dennis Stattman
Important Risks of the Fund: The fund is actively managed and its characteristics will vary. Any holdings shown are for information only and should not
be deemed as a recommendation to buy or sell the securities mentioned. Stock and bond values fluctuate in price so the value of your investment can go
down depending on market conditions. The two main risks related to fixed income investing are interest-rate and credit risk. Typically, when interest
rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the bond issuer will not be able to make
principal and interest payments. International investing involves risks related to foreign currency, limited liquidity, less government regulation and pos-
sibility of substantial volatility due to adverse political, economic or other developments. Investments in non-investment-grade debt securities (high-
yield or junk bonds) may be subject to greater market fluctuations and risk of default or loss of income and principal than securities in higher rating
categories. Asset allocation strategies do not assure profit and do not protect against loss. The fund may actively engage in short-selling, which entails
special risks. If the fund makes short sales in securities that increase in value, the fund will lose value. Any loss on short positions may or may not be
offset by investing short-sale proceeds in other investments. Investing in derivatives entails specific risks relating to liquidity, leverage and credit that
may reduce returns and/or increase volatility.
You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and, if available,
the summary prospectus contain this and other information about the fund and are available, along with information on other BlackRock funds, by
calling 800-882-0052 or from your financial professional. The prospectus and, if available, the summary prospectus should be read carefully before
investing. Unless noted, all information is as of the publication date of this fact sheet.
1 Institutional and Class R shares are sold to a limited group of investors, including certain retirement plans. Institutional shares also are sold to certain investment programs. See prospectus for details. 2 Before 1/3/03, R share per-
formance is that of Institutional shares (which have no distribution fees) restated for R share distribution fees. Performance for R shares after their inception reflects actual class performance. Performance for Investor A and C shares
before their inception (10/21/94) is based on Institutional share performance adjusted to reflect class-specific fees of Investor A and C shares at the time of their launch. This information may be considered when assessing fund per-
formance, but does not represent actual performance of those share classes. 3 Lipper funds average returns and rankings are according to Lipper, Inc. Lipper Global Flexible Portfolio Funds classification consists of all funds tracked by
Lipper that allocate investments across various asset classes, including domestic and foreign stocks, bonds and money market instruments, with a focus on total return. At least 25% of their portfolio is in securities (including shares of
gold mines, gold-oriented mining finance houses, gold coins or bullion) traded outside of the United States. Lipper category average and rankings reflect total return performance of those funds excluding sales charges. 4 The capital-
ization-weighted FTSE World Index comprises 2,200 equities from 24 countries in 12 regions, including the United States. 5 The Citigroup World Govt Bond Index includes the most significant and liquid government bond markets glob-
ally with at least an investment-grade rating. Index weights are based on the market capitalization of qualifying outstanding debt stocks. 6 The Internal Reference Benchmark is 36% S&P 500 Index, 24% FTSE World (ex-US) Index, 24%
BofA Merrill Lynch 5-year US Treasury Bond Index and 16% Citigroup Non-US Dollar World Government Bond Index. The unmanaged S&P 500 Index covers 500 industrial, utility, transportation and financial companies of the US markets.
It represents about 75% of NYSE market capitalization and 30% of NYSE issues. The unmanaged, capitalization-weighted FTSE World (ex-US) Index comprises 1,630 companies in 28 countries, excluding the United States. The unman-
aged BofA ML 5-year US Treasury Bond Index tracks the total return of the current coupon 5-year US Treasury bond. The unmanaged, market-capitalization-weighted Citigroup Non-US Dollar World Government Bond Index tracks 10
government bond indices, excluding the United States. 7 Risk statistics, if any, are measured based on Investor A class monthly returns for the 3-year period at quarter-end. These measures of past risk are not complete or, necessarily
representative measures of future risk and cannot predict a funds performance. Benchmark-related risk measures are calculated in relation to the FTSE World. Standard Deviation is a statistical measure of the volatility of the funds
returns. The Sharpe Ratio uses a funds standard deviation and its excess return (the difference between the funds return and risk-free return of 90-day Treasury Bills) to determine reward per unit of risk. Beta is a measure of a
funds sensitivity to market movements. A portfolio with a beta greater than 1 is more volatile than the market and a portfolio with a beta less than 1 is less volatile than the market. R-Squared reflects the percentage of a funds
movements that are explained by movements in its benchmark index, showing the degree of correlation between the fund and the benchmark. This figure also is helpful in assessing how likely it is that beta is statistically significant.
For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of
sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35%
receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution per-
centages.) BlackRock Global Allocation Fund was rated against the following numbers of US-domiciled World Allocation funds over the following time periods: 258 in the last 3 years, 171 in the last 5 years and 85 in the last 10 years.
With respect to these World Allocation funds, BlackRock Global Allocation Fund received a Morningstar Rating of 3, 4 and 5 stars for the 3-, 5- and 10-year periods, respectively. Morningstar Rating is for the Institutional share class
only; other classes may have different performance characteristics. 2012 Morningstar, Inc. All rights reserved.
FOR MORE INFORMATION: www.blackrock.com
2012 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners.
Prepared by BlackRock Investments, LLC, member FINRA.
Not FDIC Insured May Lose Value No Bank Guarantee
10/12 - Global Allocation Fund / MDLOX-0912-R USR-0948