SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size Issuer Agent 11/21/14 BlackRock Funds II 497K 11/21/14 1:20K Doremus Fin… Printing/FA → Blackrock Low Duration Bond Portfolio ⇒ A1 Shares — C2 Shares — Investor B3 — Investor C3 |
Document/Exhibit Description Pages Size 1: 497K Supplement HTML 16K
e61500_497k.htm - Generated by SEC Publisher for SEC Filing |
BLACKROCK FUNDS II
BlackRock Low Duration Bond Portfolio
Investor A1, Investor B3, Investor C2 and Investor C3 Shares
(the “Low Duration Fund” or the “Fund”)
Supplement dated November 21, 2014 to the Summary Prospectus dated January 28, 2014
Effective immediately, BlackRock Advisors, LLC (“BlackRock”) has agreed to reduce the management fees payable by the Fund to BlackRock, the Fund’s investment manager, and has agreed contractually to cap certain expenses of Investor A1, Investor B3, Investor C2 and Investor C3 Shares of the Fund. To achieve these expense caps, BlackRock has agreed to waive and/or reimburse fees or expenses if the Fund’s total annual fund operating expenses, excluding certain expenses described in the Prospectus, exceed a certain limit. These contractual expenses caps replace BlackRock’s voluntary expense caps with respect to Investor A1, Investor B3, Investor C2 and Investor C3 Shares of the Fund. Accordingly, the Fund’s Summary Prospectus is amended as follows:
The fee table and example under the section of the Summary Prospectus entitled “Key Facts About BlackRock Low Duration Bond Portfolio — Fees and Expenses of the Fund” are deleted in their entirety and replaced with the following:
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment) |
Investor A1 Shares |
Investor B3 Shares |
Investor C2 Shares |
Investor C3 Shares |
Maximum Sales Charge (Load) Imposed on Purchases | ||||
(as percentage of offering price) | 1.00% | None | None | None |
Maximum Deferred Sales Charge (Load) (as percentage of | ||||
offering price or redemption proceeds, whichever is lower) | None | 4.00%1 | 1.00%2 | 1.00%2 |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
Investor A1 Shares |
Investor B3 Shares |
Investor C2 Shares |
Investor C3 Shares |
Management Fee | 0.34% | 0.34% | 0.34% | 0.34% |
Distribution and/or Service (12b-1) Fees | 0.10% | 0.90% | 0.40% | 0.90% |
Other Expenses | 0.29% | 0.38% | 0.26% | 0.34% |
Interest Expense | 0.04% | 0.04% | 0.04% | 0.04% |
Miscellaneous Other Expenses | 0.25% | 0.34% | 0.22% | 0.30% |
Total Annual Fund Operating Expenses | 0.73% | 1.62% | 1.00% | 1.58% |
Fee Waivers and/or Expense Reimbursements3 | (0.09)% | (0.14)% | (0.02)% | (0.04)% |
Total Annual Fund Operating Expenses After Fee Waivers | ||||
and/or Expense Reimbursements3 | 0.64% | 1.48% | 0.98% | 1.54% |
1 |
A contingent deferred sales charge (“CDSC”) of 4.00% is assessed if shares are redeemed within two years. The CDSC for Investor B3 Shares decreases for redemptions made in subsequent years. After six years there is no CDSC on Investor B3 Shares. (See the section “Details about the Share Classes — Investor B3 Shares” in the Fund’s prospectus for the complete schedule of CDSCs.) |
2 |
There is no CDSC on Investor C2 and Investor C3 Shares after one year. |
3 |
As described in the “Management of the Funds” section on page 37, BlackRock has contractually agreed to waive and/or reimburse fees or expenses in order to limit Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements (excluding Dividend Expense, Interest Expense, Acquired Fund Fees and Expenses and certain other Fund expenses) to 0.60% (for Investor A1 Shares), 1.44% (for Investor B3 Shares), 0.94% (for Investor C2 Shares) and 1.50% (for Investor C3 Shares) of average daily net assets until January 31, 2017. The Fund may have to repay some of these waivers and/or reimbursements to BlackRock in the two years following such waivers and/or reimbursements. The contractual agreement may be terminated upon 90 days’ notice by a majority of the non-interested trustees of the Fund or by a vote of a majority of the outstanding voting securities of the Fund. |
Example:
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1 Year | 3 Years | 5 Years | 10 Years | |
Investor A1 Shares | $165 | $313 | $ 484 | $ 980 |
Investor B3 Shares | $551 | $783 | $1,054 | $1,898 |
Investor C2 Shares | $200 | $314 | $ 548 | $1,221 |
Investor C3 Shares | $257 | $491 | $ 853 | $1,871 |
You would pay the following expenses if you did not redeem your shares:
1 Year | 3 Years | 5 Years | 10 Years | |
Investor B3 Shares | $151 | $483 | $854 | $1,898 |
Investor C2 Shares | $100 | $314 | $548 | $1,221 |
Investor C3 Shares | $157 | $491 | $853 | $1,871 |
Shareholders should retain this Supplement for future reference.
SPRO-LOWD-PRI1114SUP
This ‘497K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
1/31/17 | ||||
Filed on / Effective on: | 11/21/14 | 497, 497K | ||
1/28/14 | 485BPOS | |||
List all Filings |