Strategy. The Fund pursues its objective by investing primarily in equity securities of companies that are principally engaged in the real estate industry (real estate companies). BlackRock Investment Management, LLC (BlackRock) serves as the Funds sub-adviser. In managing the Fund, BlackRock utilizes affiliated sub-sub-advisers, BlackRock International Limited and BlackRock (Singapore) Limited, which are subsidiaries of BlackRock (collectively, the Sub-Adviser). The Sub-Adviser is responsible for the day-to-day management of the Funds assets. The Sub-Adviser, under normal conditions, will invest at least 80% of the Funds net assets in equity securities of issuers that are principally engaged in the real estate industry. The Sub-Adviser considers issuers principally engaged in the real estate industry to be companies that derive their intrinsic value from the … Show more… The Fund pursues its objective by investing primarily in equity securities of companies that are principally engaged in the real estate industry (real estate companies). BlackRock Investment Management, LLC (BlackRock) serves as the Funds sub-adviser. In managing the Fund, BlackRock utilizes affiliated sub-sub-advisers, BlackRock International Limited and BlackRock (Singapore) Limited, which are subsidiaries of BlackRock (collectively, the Sub-Adviser). The Sub-Adviser is responsible for the day-to-day management of the Funds assets. The Sub-Adviser, under normal conditions, will invest at least 80% of the Funds net assets in equity securities of issuers that are principally engaged in the real estate industry. The Sub-Adviser considers issuers principally engaged in the real estate industry to be companies that derive their intrinsic value from the ownership, operation, development, construction, financing, management or sale of commercial, industrial or residential real estate and similar activities. These companies may include real estate investment trusts (REITs), real estate operating companies whose businesses and services are related to the real estate industry and real estate holding companies. The Funds portfolio normally will be composed of investments in issuers that are economically tied to at least three different countries, including the United States. The Fund may invest in emerging markets. The Fund primarily buys common stock but also can invest in preferred stock and convertible securities. The Sub-Adviser may engage in frequent and active trading of portfolio investments to achieve the Funds investment objective. The Fund does not directly invest in real estate. The Fund may use foreign exchange swaps, spots and forward contracts to maintain the currency exposure against the benchmark. The Sub-Adviser may use contracts for difference (a type of derivative) for the purpose of managing risk or to enhance total return. Show less