Common use of Principal Risks of Investing Clause in Contracts

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, and high portfolio turnover risk.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as investment and to the special risk of investment in foreign securities. In addition, the Fund is subject to risks of commodities related investmentsassociated with debt securities, convertible securitiesemerging markets, derivatives, foreign securitiesgeographic concentration, “new issue” securities, mid mid-cap securities, preferred and small and emerging growth securities, leverage, and high portfolio turnover risk.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of commodities related investmentsconcentration, convertible securities, derivativesemerging markets, foreign securities, “new issue” futures securities, index funds, mid cap securities, preferred securitiessecurities lending, leverage, small cap and high portfolio turnover emerging growth securities risk and tracking error risk.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of commodities related investments, convertible ofconvertible securities, derivatives, foreign securities, “new issue” securities, mid preferred securities, small cap securities, preferred securitiesliquidity, the use of leverage, and high portfolio turnover risk, and investment style risk.

Principal Risks of Investing. The Fund is subject to the market and selection risks risk of equity investments as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securitiessecurities risk, preferred securitiessecurities risk, leverage, the risk of investment in foreign securities and high portfolio turnover income producing stock availability risk. Additional principal risks are identified in the Fund’s prospectus.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of commodities related real estate investments, concentration, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, leverageREIT investments, and high portfolio turnover risk.small and mid cap securities. Additional principal risks are identified in the Fund’s prospectus. BlackRock Core Bond Portfolio‌‌

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments investments, as well as focus risk and the special risks of commodities related investments, convertible securities, derivatives, value investments and foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, and high portfolio turnover risk. Additional principal risks are identified in the Fund’s prospectus.

Principal Risks of Investing. The Fund is subject to the risks of fixed-income investments, including, but not limited to, borrowing risk, dollar rolls risk, emerging markets risk, leverage risk, liquidity risk, market and selection risk, credit risk and U.S. government issuer risk. In addition, because the Fund may invest a portion of its assets in derivative instruments, the Fund is exposed to the risks of equity investments as well as the special risks of commodities related associated with such investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, and high portfolio turnover risk.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments investments, small cap securities risk, investment style risk, and model risk, as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, the use of leverage, and high portfolio turnover risk, and investment style risk. Additional principal risks are identified in the Fund’s prospectus.

Principal Risks of Investing. The Fund is subject to the market and selection risks risk of equity investments as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securitiessecurities risk, preferred securitiessecurities risk, leverage, the risk of investment in foreign securities and high portfolio turnover income producing stock availability risk.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments investments, as well as the special risks of commodities related investments, convertible securities, derivatives, value investments and foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, and high portfolio turnover risk.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments investments, as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid mid-cap securities, preferred securities, leverage, and high portfolio turnover riskinvestment style. Additional principal risks are identified in the Fund’s prospectus.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of commodities related investmentsinvesting in smaller and emerging growth companies, convertible securities, derivatives, foreign securities, “new issueissues” securitiesor initial public offerings, mid cap securitieswarrants, preferred securitiesderivatives, leverage, and high investment style risk. High portfolio turnover risk.resulting from active and frequent trading results in higher markups and other transaction costs and can result in a greater amount of dividends from ordinary income rather than capital gains. BlackRock International Fund‌‌

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as and to the special risk of investment in foreign securities. In addition, the Fund is subject to risks of commodities related investmentsassociated with debt securities, convertible securitiesemerging markets, derivatives, foreign securitiesgeographic concentration, “new issue” securities, mid and mid-cap securities, preferred securities, leverage, and high portfolio turnover risk. Additional principal risks are identified in the Fund’s prospectus.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments investments, as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid mid-cap securities, preferred securities, leverage, and high portfolio turnover riskinvestment style.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, and the use of leverage. Investment Objective, Strategy and high portfolio turnover riskPolicies – The investment objective of the Fund is to seek long-term capital appreciation. The Fund tries to choose investments that will increase in value.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments as well as the special risks of commodities related investments, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, and high portfolio turnover risk.the

Principal Risks of Investing. The Fund is subject to the risks of fixed-income investments, including, but not limited to, borrowing risk, dollar rolls risk, emerging markets risk, leverage risk, liquidity risk, market and selection risks of equity investments as well as the special risks of commodities related investmentsrisk, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, credit risk and high portfolio turnover risk.U.S.

Principal Risks of Investing. The Fund is subject to the risks of fixed-income investments, including, but not limited to, borrowing risk, dollar rolls risk, emerging markets risk, interest rate risk, leverage risk, liquidity risk, market and selection risks of equity investments as well as the special risks of risk, credit risk and U.S. government issuer risk. The Fund is also subject to commodities related investmentsinvestments risk, convertible securitiescorporate loans risk, derivativesinvestment in other investment companies risk, foreign securitiesjunk (non- investment grade) bonds risk, “new issue” securities, mid cap securities, preferred securities, leverageshort sales risk, and high portfolio turnover zero coupon securities risk.

Principal Risks of Investing. The Fund is subject to the market and selection main risks of equity investments as well as investing in the special risks of Fund are commodities related investments, investment risk; convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, and securities risk; derivatives risk; equity securities risk; high portfolio turnover risk; investment style risk; leverage risk; market risk and selection risk; “new issues” risk; and preferred securities risk. Investment Objective, Strategy and Policies – The investment objective of the Fund is to seek to provide investment results that correspond to the total return performance of publicly-traded common stocks in the aggregate, as represented by the Standard & Poor’s 500 Index.

Principal Risks of Investing. The Fund is subject to real estate-related securities risk and REIT investment risk, as well as the market and selection risks of equity investments as well as and the special risks of commodities related investmentsconcentration, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securitiesnon- diversification, preferred securities, leverage, and high portfolio turnover risk.small and mid cap securities. Additional principal risks are identified in the Fund’s prospectus. BlackRock Core Bond Portfolio‌‌

Principal Risks of Investing. The Fund is subject to the risks of fixed-income investments, including, but not limited to, borrowing risk, dollar rolls risk, emerging markets risk, interest rate risk, leverage risk, liquidity risk, market and selection risks of equity investments as well as the special risks of commodities related investmentsrisk, convertible securities, derivatives, foreign securities, “new issue” securities, mid cap securities, preferred securities, leverage, credit risk and high portfolio turnover risk.U.S.

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments investments, smaller and emerging growth companies, investment style risk, and model risk, as well as the special risks of commodities related investments, investing in convertible securities, derivatives, foreign securities, “new issueissues” securities, mid cap securitieswarrants, preferred securitiesderivatives, leverage, and high portfolio turnover risk.. Additional principal risks are identified in the Fund’s prospectus. INTERNATIONAL EQUITY FUNDS‌‌

Principal Risks of Investing. The Fund is subject to the market and selection risks of equity investments investments, smaller and emerging growth companies, investment style risk, and model risk, as well as the special risks of commodities related investments, investing in convertible securities, derivatives, foreign securities, “new issueissues” securities, mid cap securitieswarrants, preferred securitiesderivatives, leverage, and high portfolio turnover risk. Additional principal risks are identified in the Fund’s prospectus.