Expenses for Institutional shares: Total 0.75%; Net, Including Investment Related Expenses (dividend expense, interest expense, acquired fund fees and expenses and certain other fund expenses) 0.67%. For Investor A shares: Total 1.00%; Net, Including Investment Related Expenses 0.92%. Institutional and Investor A shares have contractual waivers with an end date of 06/30/2026 terminable upon 90 days' notice. For certain share classes, BlackRock may voluntarily agree to waive certain fees and expenses in which the adviser may discontinue at any time without notice. Expenses stated as of the fund's most recent prospectus. Data represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. Refer to Investment Management & Financial Services | BlackRock for most recent month-end performance. Investment returns reflect total fund operating expenses, net of all fees, waivers and/or expense reimbursements. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an unmanaged index. Share classes have different sales charges, fees and other features. Returns with sales charge reflect deduction of current maximum initial sales charge of 5.25% for Investor A shares. Institutional shares have no front- or back-end load. Institutional shares have limited availability and may be purchased at various minimums. See prospectus for details. Net Expenses Excluding Investment Related Expenses for Institutional shares: 0.67%; for Investor A shares: 0.92%.
Invests in approximately 25-45 companies that fund management believes have strong earnings growth and capital appreciation potential.
The economy is not the stock market, which is good news. Despite volatility in the summer, earnings growth led to a quick rebound in stocks. As the fourth quarter begins, we expect volatility from Federal Reserve and election uncertainty, positive stock reactions to interest rate cuts, and opportunities in large and mid caps. In the post-COVID-19 era, the economy has faced "mini rolling recessions" in technology and housing, though the stock market has adapted to more "normal" conditions. This return to normalcy brings more volatility, which will benefit skilled stock pickers.
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.