0001193125-12-476788.txt : 20121120 0001193125-12-476788.hdr.sgml : 20121120 20121120111338 ACCESSION NUMBER: 0001193125-12-476788 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20121120 DATE AS OF CHANGE: 20121120 EFFECTIVENESS DATE: 20121120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FUNDS CENTRAL INDEX KEY: 0000844779 IRS NUMBER: 510318674 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-26305 FILM NUMBER: 121216847 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: COMPASS CAPITAL FUNDS\ DATE OF NAME CHANGE: 19961114 FORMER COMPANY: FORMER CONFORMED NAME: PNC FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NCP FUNDS DATE OF NAME CHANGE: 19890511 0000844779 S000030752 BlackRock India Fund C000095376 Investor A Shares C000095377 Investor C Shares C000095378 Institutional Shares 497 1 d433698d497.htm LETTER LETTER
LOGO     

SIDLEY AUSTIN LLP 787 SEVENTH AVENUE     NEW YORK, NY 10019 (212) 839 5300

(212) 839 5599 FAX

    

BEIJING BRUSSELS CHICAGO DALLAS FRANKFURT GENEVA HONG KONG HOUSTON LONDON

 

FOUNDED 1866

    

LOS ANGELES NEW YORK PALO ALTO SAN FRANCISCO SHANGHAI SINGAPORE SYDNEY

TOKYO WASHINGTON, D.C.

November 20, 2012

VIA EDGAR

Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

 

  Re:

BlackRock India Fund, a series of BlackRock FundsSM

(File Nos. 33-26305, 811-05742)

Ladies and Gentlemen:

On behalf of BlackRock FundsSM, attached for filing are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information in the Prospectus of BlackRock India Fund, dated November 28, 2011, as amended November 5, 2012, as filed pursuant to Rule 497(e) under the Securities Act of 1933, on November 5, 2012
(the “497 Filing”). The purpose of this filing is to submit the 497 Filing in XBRL for the Fund.

Any questions or comments on the 497 Filing should be directed to the undersigned at (212) 839-5583.

 

Very truly yours,

/s/ Ellen W. Harris

Ellen W. Harris

Enclosures

 

cc: Ben Archibald, Esq.

BlackRock Advisors, LLC

Sidley Austin (NY) LLP is a Delaware limited liability partnership doing business as Sidley Austin LLP and practicing in affiliation with other Sidley Austin partnerships.

EX-101.INS 2 brf6-20121105.xml XBRL INSTANCE DOCUMENT 0000844779 brf6:S000030752Member 2010-11-29 2011-11-28 0000844779 brf6:S000030752Member brf6:C000095376Member 2010-11-29 2011-11-28 0000844779 brf6:S000030752Member brf6:C000095377Member 2010-11-29 2011-11-28 0000844779 brf6:S000030752Member brf6:C000095378Member 2010-11-29 2011-11-28 0000844779 2010-11-29 2011-11-28 pure iso4217:USD <div style="display:none">~ http://www.blackrock.com/role/ScheduleShareholderFeesBlackRockIndiaFund column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: ARIAL" size="6"><b>Fund Overview</b></font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2"><b>Key Facts About BlackRock India Fund</b></font> <font style="FONT-FAMILY: ARIAL" size="2">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (&#147;BlackRock&#148;).</font> <font style="FONT-FAMILY: ARIAL" size="1">Other Expenses are based on estimated amounts for the current fiscal year.</font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#147;turns over&#148; its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#146;s performance. During the most recent fiscal period, the Fund&#146;s portfolio turnover rate was 45% of the average value of its portfolio.</font> 0.0525 0 0 <font style="FONT-FAMILY: ARIAL" size="2"><b>Shareholder Fees</b></font><br/><font style="FONT-FAMILY: ARIAL" size="2"><b>(fees paid directly from your investment)</b></font> <font style="FONT-FAMILY: ARIAL" size="2"><b>Annual Fund Operating Expenses</b></font><br/><font style="FONT-FAMILY: ARIAL" size="2"><b>(expenses that you pay each year as a<br/> percentage of the value of your investment)</b></font> 25000 717 <div style="display:none">~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackRockIndiaFund column period compact * ~</div> Other BLACKROCK FUNDS 2012-11-05 <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (&#147;BlackRock&#148;). More information about these and other discounts is available from your financial professional and in the &#147;Details About the Share Classes&#148; section on page 20 of the Fund&#146;s prospectus and in the &#147;Purchase of Shares&#148; section on page II-58 of the Fund&#146;s statement of additional information.</font> <font style="FONT-FAMILY: ARIAL" size="1">A contingent deferred sales charge (&#147;CDSC&#148;) of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more.</font> -0.0144 -0.0148 -0.0146 <font style="FONT-FAMILY: ARIAL" size="2">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&#146;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> 378 178 1399 1150 853 278 <font style="FONT-FAMILY: ARIAL" size="2"><b><i>Principal Investment Strategies of the Fund</i></b></font> 2011-07-31 0000844779 false 2012-11-05 <font style="FONT-FAMILY: ARIAL" size="2"><i><b>Investment Objective</i></b></font> <font style="FONT-FAMILY: ARIAL" size="2"><i><b>Fees and Expenses of the Fund </i></b></font> 0 0.01 0 0.0025 0.01 0 0.0219 0.0223 0.0221 0.0117 0.0121 0.0119 0.0102 0.0102 0.0102 0.0344 0.0423 0.0321 <font style="FONT-FAMILY: ARIAL" size="2">You would pay the following expenses if you did not redeem your shares:</font> 1150 <font style="FONT-FAMILY: ARIAL" size="2"><b>Portfolio Turnover:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in equity securities of Indian companies or in instruments with similar economic characteristics. An Indian company is a company which is organized under the laws of, or with a principal office in, or for which the principal trading market for its securities is, India; or derives 50% or more of its total revenue or profit from either goods or services produced or sales made in India; or has 50% or more of its assets in India.<br/><br/>The Fund may invest in companies of any size, and may invest a significant portion of its assets in equity securities of smaller companies. Equity securities include common stock, preferred stock, securities convertible into common stock or securities or other instruments whose price is linked to the value of common stocks.<br/><br/>The Fund may carry out its investment strategies by investing substantially all of its assets in a wholly-owned subsidiary of the Fund formed in the Republic of Mauritius, BlackRock India Fund (Mauritius) Limited (the &#147;Subsidiary&#148;), which, under normal market conditions, will invest at least 80% of its assets in equity securities of Indian companies or in instruments with similar economic characteristics. Except as otherwise indicated, references in this prospectus to the Fund include the Subsidiary.<br/><br/>Fund management may, when consistent with the Fund&#146;s investment objective, buy or sell options or futures on a security or an index of securities (commonly known as derivatives). The primary purpose of using derivatives is to attempt to reduce risk to the Fund as a whole (hedge), but they may also be used to maintain liquidity and commit cash pending investment. Fund management also may, but under normal market conditions generally does not, intend to use derivatives for speculation to increase returns.<br/><br/>The Fund will invest primarily in the common stocks of companies that are selected for their growth potential and which are valued at a reasonable price. However, the Fund may also invest in value stocks. Fund management seeks to maximize total return by constructing the portfolio to reflect Fund management&#146;s views of the macro-economic environment as well as by using a &#147;bottom up&#148; approach, which entails the fundamental analysis of individual stocks and companies.</font> <font style="FONT-FAMILY: ARIAL" size="2">Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The following is a summary description of certain risks of investing in the Fund. </font> <ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Derivatives Risk</i></b> &#151; The Fund&#146;s use of derivatives may reduce the Fund&#146;s returns and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A risk of the Fund&#146;s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.</font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Emerging Markets Risk</i></b> &#151; Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop. Investments in emerging markets may be considered speculative. Emerging markets are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, many emerging securities markets have far lower trading volumes and less liquidity than developed markets. </font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Equity Securities Risk</i></b> &#151; Stock markets are volatile. The prices of equity securities fluctuate based on changes in a company&#146;s financial condition and overall market and economic conditions. </font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Foreign Securities Risk</i></b> &#151; Foreign investments often involve special risks not present in U.S. investments that can increase the chances that the Fund will lose money. These risks include: </font></li></ul><table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="4%"><font size="1"></font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="2">&#8212;</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="2">The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.</font></td></tr></table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"><font size="1"></font></p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="4%"><font size="1"></font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="2">&#8212;</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="2">Changes in foreign currency exchange rates can affect the value of the Fund&#146;s portfolio. </font></td></tr></table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"><font size="1"></font></p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="4%"><font size="1"></font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="2">&#8212;</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="2">The economies of certain foreign markets may not compare favorably with the economy of the United States with respect to such issues as growth of gross national product, reinvestment of capital, resources and balance of payments position. </font></td></tr></table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"><font size="1"></font></p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="4%"><font size="1"></font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="2">&#8212;</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="2">The governments of certain countries may prohibit or impose substantial restrictions on foreign investments in their capital markets or in certain industries. </font></td></tr></table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"><font size="1"></font></p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="4%"><font size="1"></font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="2">&#8212;</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="2">Many foreign governments do not supervise and regulate stock exchanges, brokers and the sale of securities to the same extent as does the United States and may not have laws to protect investors that are comparable to U.S. securities laws. </font></td></tr></table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"><font size="1"></font></p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="4%"><font size="1"></font></td> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="2">&#8212;</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="2">Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments. </font></td></tr></table><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Geographic Concentration Risk</i></b> &#151;The Fund will invest primarily in equity and equity related securities of Indian companies. Because the Fund concentrates its investments in India, the Fund&#146;s performance is expected to be closely tied to economic and political conditions in India.</font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Indian Regulatory Risk</i></b> &#151; BlackRock is a qualified foreign institutional investor (&#147;FII&#148;) with the Securities and Exchange Board of India (&#147;SEBI&#148;), the Indian counterpart of the U.S. Securities and Exchange Commission. The Subsidiary&#146;s registration with SEBI as the sub-account of an FII has been granted. There can be no assurances that Indian regulators will continue to grant such qualifications, and the loss of such qualifications could adversely impact the ability of the Fund to invest in India. The Indian Foreign Exchange Management Act, 1999, and the rules, regulations and notifications issued thereunder regulate the Fund&#146;s investment activities. If new policy announcements or regulations in India are made which require retrospective changes in the structure or operations of the Fund, these may adversely impact the performance of the Fund. </font><p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"></p><font style="FONT-FAMILY: ARIAL" size="2"> There can be no assurance that the Indian government in the future, whether for purposes of managing its balance of payments or for other reasons, will not impose restrictions on foreign capital remittances abroad or otherwise modify the exchange control regime applicable to foreign institutional investors in such a way that may adversely affect the ability of the Fund to repatriate its income and capital.</font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Investment Style Risk</i></b> &#151; The Fund will have a flexible investment style as it will invest in both value and growth stocks. The endeavor will be to invest primarily in the common stocks of companies that are selected for their growth potential and which are valued at a reasonable price. It is possible that the investment style followed by the Fund may go out of favor and the Fund may underperform other equity funds that use different investment styles. </font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Market Liquidity Risk</i></b> &#151; The liquidity of investments made by the Fund may be restricted by trading volumes besides operational issues like settlement periods and transfer procedures. Although the Fund management team will endeavor to create a portfolio, which will have high market liquidity, there is a possibility that market liquidity could be impacted as a result of company/sector/general market related events and there could be a price impact as a result of portfolio re-balancing and/or liquidity demands due to redemptions.</font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Market Risk and Selection Risk </i></b> &#151; Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.</font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Risks of Investing in India </i></b> &#151; India is an emerging market and demonstrates significantly higher volatility from time to time in comparison to more developed markets. Political and legal uncertainty, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets may offer higher potential for losses.</font> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"></p><font style="FONT-FAMILY: ARIAL" size="2">Moreover, governmental actions can have a significant effect on the economic conditions in India, which could adversely affect the value and liquidity of investments. The securities industry in India is comparatively underdeveloped, and stockbrokers and other intermediaries may not perform as well as their counterparts in the United States and other more developed securities markets. The limited liquidity of the Indian securities markets may also affect the Fund&#146;s ability to acquire or dispose of securities at the price and time that it desires. </font> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"></p><font style="FONT-FAMILY: ARIAL" size="2">Global factors and foreign actions may inhibit the flow of foreign capital on which India is dependent to sustain its growth. In addition, the Reserve Bank of India (&#147;RBI&#148;) has imposed limits on foreign ownership which may decrease the liquidity of the Fund&#146;s portfolio and result in extreme volatility in the prices of Indian securities. These factors, coupled with the lack of extensive accounting, auditing and financial reporting standards and practices, as applicable in the United States, may increase the risk of loss. </font> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"></p><font style="FONT-FAMILY: ARIAL" size="2">Further, certain Indian regulatory approvals, including approvals from the SEBI, the central government and the tax authorities (to the extent that tax benefits need to be utilized), may be required before the Fund can make investments in Indian companies. Furthermore, the Fund may require the prior approvals of the Foreign Investment Promotion Board of the Ministry of Finance of the government of India (the &#147;FIPB&#148;) and the RBI for them to invest in certain Indian companies operating in specified sectors or beyond certain specified investment limit ceilings. There is a risk that these approvals may not be given or cancelled at a later point in time, during the life cycle of the Fund.</font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Subsidiary Risk </i></b> &#151; By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary&#146;s investments. The equity securities of Indian companies in which the Subsidiary invests are identical to those permitted to be held by the Fund and are subject to the same risks as if those investments were held directly by the Fund. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the &#147;Investment Company Act&#148;), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the Investment Company Act. However, the Fund wholly owns the Subsidiary, and the Fund and the Subsidiary are both managed by BlackRock, making it unlikely that the Subsidiary will take action contrary to the interests of the Fund and its shareholders. </font> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 6px"></p><font style="FONT-FAMILY: ARIAL" size="2">Changes in the laws or policies of the United States, India and/or the Republic of Mauritius could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and the Statement of Additional Information and could adversely affect the Fund. Furthermore, tax rates currently applicable to the Mauritius entities may be modified in the future and India-Mauritius Double Tax Avoidance Agreement (the &#147;Treaty&#148;) benefits may not be available.</font></li></ul><ul type="square"><li><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Tax Risk </i></b> &#151; The Fund and the Subsidiary rely on the Treaty for relief from certain Indian taxes. Treaty renegotiation (particularly to introduce a limitation of benefit clause) or recent legislative changes may result in the Fund withdrawing from the Subsidiary, which may result in higher taxes and/or lower returns for the Fund. See &#147;Subsidiary Risk&#148; above. </font></li></ul> <font style="FONT-FAMILY: ARIAL" size="2">You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments.</font> <div style="display:none">~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackRockIndiaFund column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="1">December 1, 2012</font> 2011-11-28 <font style="FONT-FAMILY: ARIAL" size="2">The investment objective of BlackRock India Fund (the &#147;Fund&#148;), a series of BlackRock Funds<sup>SM</sup> (the &#147;Trust&#148;), is to seek to maximize total return from a portfolio of equity securities of Indian companies or instruments with similar economic characteristics. 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The Fund&#146;s benchmark index is the MSCI India Index.</font> <font style="FONT-FAMILY: ARIAL" size="2">Because the Fund does not have a full calendar year of operations, it does not have performance information an investor would find useful in evaluating the risks of investing in the Fund.</font> <div style="display:none">~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackRockIndiaFund column period compact * ~</div> 0.45 A contingent deferred sales charge ("CDSC") of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more. There is no CDSC on Investor C Shares after one year. Other Expenses are based on estimated amounts for the current fiscal year. As described in the "Management of the Fund" section of the Fund's prospectus on pages 34-38, 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 2.00% of average daily net assets for Investor A Shares, 2.75% of average daily net assets for Investor C Shares and 1.75% of average daily net assets for Institutional Shares until December 1, 2012. The Fund may have to repay some of these waivers and/or reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund. 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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BLACKROCK FUNDS
Prospectus Date rr_ProspectusDate Nov. 28, 2011
Document Creation Date dei_DocumentCreationDate Nov. 05, 2012
XML 12 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
BlackRock India Fund
Fund Overview

Key Facts About BlackRock India Fund
Investment Objective
The investment objective of BlackRock India Fund (the “Fund”), a series of BlackRock FundsSM (the “Trust”), is to seek to maximize total return from a portfolio of equity securities of Indian companies or instruments with similar economic characteristics. Total return means the combination of capital appreciation and investment income.
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. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (“BlackRock”). More information about these and other discounts is available from your financial professional and in the “Details About the Share Classes” section on page 20 of the Fund’s prospectus and in the “Purchase of Shares” section on page II-58 of the Fund’s statement of additional information.
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees BlackRock India Fund
Investor A Shares
Investor C Shares
Institutional Shares
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) 5.25% none none
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) none [1] 1.00% [2] none
[1] A contingent deferred sales charge ("CDSC") of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more.
[2] There is no CDSC on Investor C Shares after one year.
Annual Fund Operating Expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses BlackRock India Fund
Investor A Shares
Investor C Shares
Institutional Shares
Management Fee 1.00% 1.00% 1.00%
Distribution and/or Service (12b-1) Fees 0.25% 1.00% none
Other Expenses [1] 2.19% 2.23% 2.21%
Other Expenses of the Fund 1.17% 1.21% 1.19%
Other Expenses of the Subsidiary 1.02% 1.02% 1.02%
Total Annual Fund Operating Expenses 3.44% 4.23% 3.21%
Fee Waivers and/or Expense Reimbursements [2] (1.44%) (1.48%) (1.46%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements [2] 2.00% 2.75% 1.75%
[1] Other Expenses are based on estimated amounts for the current fiscal year.
[2] As described in the "Management of the Fund" section of the Fund's prospectus on pages 34-38, 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 2.00% of average daily net assets for Investor A Shares, 2.75% of average daily net assets for Investor C Shares and 1.75% of average daily net assets for Institutional Shares until December 1, 2012. The Fund may have to repay some of these waivers and/or reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of the Trust 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:
Expense Example BlackRock India Fund (USD $)
1 Year
3 Years
Investor A Shares
717 1,399
Investor C Shares
378 1,150
Institutional Shares
178 853
You would pay the following expenses if you did not redeem your shares:
Expense Example, No Redemption (USD $)
1 Year
3 Years
BlackRock India Fund Investor C Shares
278 1,150
Portfolio Turnover:
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal period, the Fund’s portfolio turnover rate was 45% of the average value of its portfolio.
Principal Investment Strategies of the Fund
The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in equity securities of Indian companies or in instruments with similar economic characteristics. An Indian company is a company which is organized under the laws of, or with a principal office in, or for which the principal trading market for its securities is, India; or derives 50% or more of its total revenue or profit from either goods or services produced or sales made in India; or has 50% or more of its assets in India.

The Fund may invest in companies of any size, and may invest a significant portion of its assets in equity securities of smaller companies. Equity securities include common stock, preferred stock, securities convertible into common stock or securities or other instruments whose price is linked to the value of common stocks.

The Fund may carry out its investment strategies by investing substantially all of its assets in a wholly-owned subsidiary of the Fund formed in the Republic of Mauritius, BlackRock India Fund (Mauritius) Limited (the “Subsidiary”), which, under normal market conditions, will invest at least 80% of its assets in equity securities of Indian companies or in instruments with similar economic characteristics. Except as otherwise indicated, references in this prospectus to the Fund include the Subsidiary.

Fund management may, when consistent with the Fund’s investment objective, buy or sell options or futures on a security or an index of securities (commonly known as derivatives). The primary purpose of using derivatives is to attempt to reduce risk to the Fund as a whole (hedge), but they may also be used to maintain liquidity and commit cash pending investment. Fund management also may, but under normal market conditions generally does not, intend to use derivatives for speculation to increase returns.

The Fund will invest primarily in the common stocks of companies that are selected for their growth potential and which are valued at a reasonable price. However, the Fund may also invest in value stocks. Fund management seeks to maximize total return by constructing the portfolio to reflect Fund management’s views of the macro-economic environment as well as by using a “bottom up” approach, which entails the fundamental analysis of individual stocks and companies.
Principal Risks of Investing in the Fund
Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The following is a summary description of certain risks of investing in the Fund.
  • Derivatives Risk — The Fund’s use of derivatives may reduce the Fund’s returns and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A risk of the Fund’s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.
  • Emerging Markets Risk — Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop. Investments in emerging markets may be considered speculative. Emerging markets are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, many emerging securities markets have far lower trading volumes and less liquidity than developed markets.
  • Equity Securities Risk — Stock markets are volatile. The prices of equity securities fluctuate based on changes in a company’s financial condition and overall market and economic conditions.
  • Foreign Securities Risk — Foreign investments often involve special risks not present in U.S. investments that can increase the chances that the Fund will lose money. These risks include:
The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.

Changes in foreign currency exchange rates can affect the value of the Fund’s portfolio.

The economies of certain foreign markets may not compare favorably with the economy of the United States with respect to such issues as growth of gross national product, reinvestment of capital, resources and balance of payments position.

The governments of certain countries may prohibit or impose substantial restrictions on foreign investments in their capital markets or in certain industries.

Many foreign governments do not supervise and regulate stock exchanges, brokers and the sale of securities to the same extent as does the United States and may not have laws to protect investors that are comparable to U.S. securities laws.

Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.
  • Geographic Concentration Risk —The Fund will invest primarily in equity and equity related securities of Indian companies. Because the Fund concentrates its investments in India, the Fund’s performance is expected to be closely tied to economic and political conditions in India.
  • Indian Regulatory Risk — BlackRock is a qualified foreign institutional investor (“FII”) with the Securities and Exchange Board of India (“SEBI”), the Indian counterpart of the U.S. Securities and Exchange Commission. The Subsidiary’s registration with SEBI as the sub-account of an FII has been granted. There can be no assurances that Indian regulators will continue to grant such qualifications, and the loss of such qualifications could adversely impact the ability of the Fund to invest in India. The Indian Foreign Exchange Management Act, 1999, and the rules, regulations and notifications issued thereunder regulate the Fund’s investment activities. If new policy announcements or regulations in India are made which require retrospective changes in the structure or operations of the Fund, these may adversely impact the performance of the Fund.

    There can be no assurance that the Indian government in the future, whether for purposes of managing its balance of payments or for other reasons, will not impose restrictions on foreign capital remittances abroad or otherwise modify the exchange control regime applicable to foreign institutional investors in such a way that may adversely affect the ability of the Fund to repatriate its income and capital.
  • Investment Style Risk — The Fund will have a flexible investment style as it will invest in both value and growth stocks. The endeavor will be to invest primarily in the common stocks of companies that are selected for their growth potential and which are valued at a reasonable price. It is possible that the investment style followed by the Fund may go out of favor and the Fund may underperform other equity funds that use different investment styles.
  • Market Liquidity Risk — The liquidity of investments made by the Fund may be restricted by trading volumes besides operational issues like settlement periods and transfer procedures. Although the Fund management team will endeavor to create a portfolio, which will have high market liquidity, there is a possibility that market liquidity could be impacted as a result of company/sector/general market related events and there could be a price impact as a result of portfolio re-balancing and/or liquidity demands due to redemptions.
  • Market Risk and Selection Risk — Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
  • Risks of Investing in India — India is an emerging market and demonstrates significantly higher volatility from time to time in comparison to more developed markets. Political and legal uncertainty, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets may offer higher potential for losses.

    Moreover, governmental actions can have a significant effect on the economic conditions in India, which could adversely affect the value and liquidity of investments. The securities industry in India is comparatively underdeveloped, and stockbrokers and other intermediaries may not perform as well as their counterparts in the United States and other more developed securities markets. The limited liquidity of the Indian securities markets may also affect the Fund’s ability to acquire or dispose of securities at the price and time that it desires.

    Global factors and foreign actions may inhibit the flow of foreign capital on which India is dependent to sustain its growth. In addition, the Reserve Bank of India (“RBI”) has imposed limits on foreign ownership which may decrease the liquidity of the Fund’s portfolio and result in extreme volatility in the prices of Indian securities. These factors, coupled with the lack of extensive accounting, auditing and financial reporting standards and practices, as applicable in the United States, may increase the risk of loss.

    Further, certain Indian regulatory approvals, including approvals from the SEBI, the central government and the tax authorities (to the extent that tax benefits need to be utilized), may be required before the Fund can make investments in Indian companies. Furthermore, the Fund may require the prior approvals of the Foreign Investment Promotion Board of the Ministry of Finance of the government of India (the “FIPB”) and the RBI for them to invest in certain Indian companies operating in specified sectors or beyond certain specified investment limit ceilings. There is a risk that these approvals may not be given or cancelled at a later point in time, during the life cycle of the Fund.
  • Subsidiary Risk — By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The equity securities of Indian companies in which the Subsidiary invests are identical to those permitted to be held by the Fund and are subject to the same risks as if those investments were held directly by the Fund. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the Investment Company Act. However, the Fund wholly owns the Subsidiary, and the Fund and the Subsidiary are both managed by BlackRock, making it unlikely that the Subsidiary will take action contrary to the interests of the Fund and its shareholders.

    Changes in the laws or policies of the United States, India and/or the Republic of Mauritius could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and the Statement of Additional Information and could adversely affect the Fund. Furthermore, tax rates currently applicable to the Mauritius entities may be modified in the future and India-Mauritius Double Tax Avoidance Agreement (the “Treaty”) benefits may not be available.
  • Tax Risk — The Fund and the Subsidiary rely on the Treaty for relief from certain Indian taxes. Treaty renegotiation (particularly to introduce a limitation of benefit clause) or recent legislative changes may result in the Fund withdrawing from the Subsidiary, which may result in higher taxes and/or lower returns for the Fund. See “Subsidiary Risk” above.
Performance Information
Because the Fund does not have a full calendar year of operations, it does not have performance information an investor would find useful in evaluating the risks of investing in the Fund. The Fund’s benchmark index is the MSCI India Index.
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XML 14 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BLACKROCK FUNDS
Prospectus Date rr_ProspectusDate Nov. 28, 2011
BlackRock India Fund
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Overview

Key Facts About BlackRock India Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The investment objective of BlackRock India Fund (the “Fund”), a series of BlackRock FundsSM (the “Trust”), is to seek to maximize total return from a portfolio of equity securities of Indian companies or instruments with similar economic characteristics. Total return means the combination of capital appreciation and investment income.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (“BlackRock”). More information about these and other discounts is available from your financial professional and in the “Details About the Share Classes” section on page 20 of the Fund’s prospectus and in the “Purchase of Shares” section on page II-58 of the Fund’s statement of additional information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination December 1, 2012
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal period, the Fund’s portfolio turnover rate was 45% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 45.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (“BlackRock”).
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 25,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Other Expenses are based on estimated amounts for the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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:
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption You would pay the following expenses if you did not redeem your shares:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in equity securities of Indian companies or in instruments with similar economic characteristics. An Indian company is a company which is organized under the laws of, or with a principal office in, or for which the principal trading market for its securities is, India; or derives 50% or more of its total revenue or profit from either goods or services produced or sales made in India; or has 50% or more of its assets in India.

The Fund may invest in companies of any size, and may invest a significant portion of its assets in equity securities of smaller companies. Equity securities include common stock, preferred stock, securities convertible into common stock or securities or other instruments whose price is linked to the value of common stocks.

The Fund may carry out its investment strategies by investing substantially all of its assets in a wholly-owned subsidiary of the Fund formed in the Republic of Mauritius, BlackRock India Fund (Mauritius) Limited (the “Subsidiary”), which, under normal market conditions, will invest at least 80% of its assets in equity securities of Indian companies or in instruments with similar economic characteristics. Except as otherwise indicated, references in this prospectus to the Fund include the Subsidiary.

Fund management may, when consistent with the Fund’s investment objective, buy or sell options or futures on a security or an index of securities (commonly known as derivatives). The primary purpose of using derivatives is to attempt to reduce risk to the Fund as a whole (hedge), but they may also be used to maintain liquidity and commit cash pending investment. Fund management also may, but under normal market conditions generally does not, intend to use derivatives for speculation to increase returns.

The Fund will invest primarily in the common stocks of companies that are selected for their growth potential and which are valued at a reasonable price. However, the Fund may also invest in value stocks. Fund management seeks to maximize total return by constructing the portfolio to reflect Fund management’s views of the macro-economic environment as well as by using a “bottom up” approach, which entails the fundamental analysis of individual stocks and companies.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The following is a summary description of certain risks of investing in the Fund.
  • Derivatives Risk — The Fund’s use of derivatives may reduce the Fund’s returns and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A risk of the Fund’s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.
  • Emerging Markets Risk — Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop. Investments in emerging markets may be considered speculative. Emerging markets are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, many emerging securities markets have far lower trading volumes and less liquidity than developed markets.
  • Equity Securities Risk — Stock markets are volatile. The prices of equity securities fluctuate based on changes in a company’s financial condition and overall market and economic conditions.
  • Foreign Securities Risk — Foreign investments often involve special risks not present in U.S. investments that can increase the chances that the Fund will lose money. These risks include:
The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.

Changes in foreign currency exchange rates can affect the value of the Fund’s portfolio.

The economies of certain foreign markets may not compare favorably with the economy of the United States with respect to such issues as growth of gross national product, reinvestment of capital, resources and balance of payments position.

The governments of certain countries may prohibit or impose substantial restrictions on foreign investments in their capital markets or in certain industries.

Many foreign governments do not supervise and regulate stock exchanges, brokers and the sale of securities to the same extent as does the United States and may not have laws to protect investors that are comparable to U.S. securities laws.

Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.
  • Geographic Concentration Risk —The Fund will invest primarily in equity and equity related securities of Indian companies. Because the Fund concentrates its investments in India, the Fund’s performance is expected to be closely tied to economic and political conditions in India.
  • Indian Regulatory Risk — BlackRock is a qualified foreign institutional investor (“FII”) with the Securities and Exchange Board of India (“SEBI”), the Indian counterpart of the U.S. Securities and Exchange Commission. The Subsidiary’s registration with SEBI as the sub-account of an FII has been granted. There can be no assurances that Indian regulators will continue to grant such qualifications, and the loss of such qualifications could adversely impact the ability of the Fund to invest in India. The Indian Foreign Exchange Management Act, 1999, and the rules, regulations and notifications issued thereunder regulate the Fund’s investment activities. If new policy announcements or regulations in India are made which require retrospective changes in the structure or operations of the Fund, these may adversely impact the performance of the Fund.

    There can be no assurance that the Indian government in the future, whether for purposes of managing its balance of payments or for other reasons, will not impose restrictions on foreign capital remittances abroad or otherwise modify the exchange control regime applicable to foreign institutional investors in such a way that may adversely affect the ability of the Fund to repatriate its income and capital.
  • Investment Style Risk — The Fund will have a flexible investment style as it will invest in both value and growth stocks. The endeavor will be to invest primarily in the common stocks of companies that are selected for their growth potential and which are valued at a reasonable price. It is possible that the investment style followed by the Fund may go out of favor and the Fund may underperform other equity funds that use different investment styles.
  • Market Liquidity Risk — The liquidity of investments made by the Fund may be restricted by trading volumes besides operational issues like settlement periods and transfer procedures. Although the Fund management team will endeavor to create a portfolio, which will have high market liquidity, there is a possibility that market liquidity could be impacted as a result of company/sector/general market related events and there could be a price impact as a result of portfolio re-balancing and/or liquidity demands due to redemptions.
  • Market Risk and Selection Risk — Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
  • Risks of Investing in India — India is an emerging market and demonstrates significantly higher volatility from time to time in comparison to more developed markets. Political and legal uncertainty, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets may offer higher potential for losses.

    Moreover, governmental actions can have a significant effect on the economic conditions in India, which could adversely affect the value and liquidity of investments. The securities industry in India is comparatively underdeveloped, and stockbrokers and other intermediaries may not perform as well as their counterparts in the United States and other more developed securities markets. The limited liquidity of the Indian securities markets may also affect the Fund’s ability to acquire or dispose of securities at the price and time that it desires.

    Global factors and foreign actions may inhibit the flow of foreign capital on which India is dependent to sustain its growth. In addition, the Reserve Bank of India (“RBI”) has imposed limits on foreign ownership which may decrease the liquidity of the Fund’s portfolio and result in extreme volatility in the prices of Indian securities. These factors, coupled with the lack of extensive accounting, auditing and financial reporting standards and practices, as applicable in the United States, may increase the risk of loss.

    Further, certain Indian regulatory approvals, including approvals from the SEBI, the central government and the tax authorities (to the extent that tax benefits need to be utilized), may be required before the Fund can make investments in Indian companies. Furthermore, the Fund may require the prior approvals of the Foreign Investment Promotion Board of the Ministry of Finance of the government of India (the “FIPB”) and the RBI for them to invest in certain Indian companies operating in specified sectors or beyond certain specified investment limit ceilings. There is a risk that these approvals may not be given or cancelled at a later point in time, during the life cycle of the Fund.
  • Subsidiary Risk — By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The equity securities of Indian companies in which the Subsidiary invests are identical to those permitted to be held by the Fund and are subject to the same risks as if those investments were held directly by the Fund. There can be no assurance that the investment objective of the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and, unless otherwise noted in this prospectus, is not subject to all the investor protections of the Investment Company Act. However, the Fund wholly owns the Subsidiary, and the Fund and the Subsidiary are both managed by BlackRock, making it unlikely that the Subsidiary will take action contrary to the interests of the Fund and its shareholders.

    Changes in the laws or policies of the United States, India and/or the Republic of Mauritius could result in the inability of the Fund and/or the Subsidiary to operate as described in this prospectus and the Statement of Additional Information and could adversely affect the Fund. Furthermore, tax rates currently applicable to the Mauritius entities may be modified in the future and India-Mauritius Double Tax Avoidance Agreement (the “Treaty”) benefits may not be available.
  • Tax Risk — The Fund and the Subsidiary rely on the Treaty for relief from certain Indian taxes. Treaty renegotiation (particularly to introduce a limitation of benefit clause) or recent legislative changes may result in the Fund withdrawing from the Subsidiary, which may result in higher taxes and/or lower returns for the Fund. See “Subsidiary Risk” above.
Risk Lose Money [Text] rr_RiskLoseMoney You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock Because the Fund does not have a full calendar year of operations, it does not have performance information an investor would find useful in evaluating the risks of investing in the Fund. The Fund’s benchmark index is the MSCI India Index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund does not have a full calendar year of operations, it does not have performance information an investor would find useful in evaluating the risks of investing in the Fund.
BlackRock India Fund | Investor A Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.25%
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management Fee rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses of the Fund rr_Component1OtherExpensesOverAssets 1.17%
Other Expenses of the Subsidiary rr_Component2OtherExpensesOverAssets 1.02%
Other Expenses rr_OtherExpensesOverAssets 2.19% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 3.44%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (1.44%) [3]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.00% [3]
1 Year rr_ExpenseExampleYear01 717
3 Years rr_ExpenseExampleYear03 1,399
BlackRock India Fund | Investor C Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [4]
Management Fee rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses of the Fund rr_Component1OtherExpensesOverAssets 1.21%
Other Expenses of the Subsidiary rr_Component2OtherExpensesOverAssets 1.02%
Other Expenses rr_OtherExpensesOverAssets 2.23% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 4.23%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (1.48%) [3]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.75% [3]
1 Year rr_ExpenseExampleYear01 378
3 Years rr_ExpenseExampleYear03 1,150
1 Year rr_ExpenseExampleNoRedemptionYear01 278
3 Years rr_ExpenseExampleNoRedemptionYear03 1,150
BlackRock India Fund | Institutional Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management Fee rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses of the Fund rr_Component1OtherExpensesOverAssets 1.19%
Other Expenses of the Subsidiary rr_Component2OtherExpensesOverAssets 1.02%
Other Expenses rr_OtherExpensesOverAssets 2.21% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 3.21%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (1.46%) [3]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.75% [3]
1 Year rr_ExpenseExampleYear01 178
3 Years rr_ExpenseExampleYear03 853
[1] A contingent deferred sales charge ("CDSC") of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more.
[2] Other Expenses are based on estimated amounts for the current fiscal year.
[3] As described in the "Management of the Fund" section of the Fund's prospectus on pages 34-38, 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 2.00% of average daily net assets for Investor A Shares, 2.75% of average daily net assets for Investor C Shares and 1.75% of average daily net assets for Institutional Shares until December 1, 2012. The Fund may have to repay some of these waivers and/or reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund.
[4] There is no CDSC on Investor C Shares after one year.
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