-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MeTBnh22k/xbrG4wRiT2ZPp8tVBFsuf9HPns5s7toIXKhwJIchKqbrcUuxlxbWQZ LttMScE4zImwSEgj2uMlYg== 0001193125-11-039337.txt : 20110218 0001193125-11-039337.hdr.sgml : 20110218 20110217182529 ACCESSION NUMBER: 0001193125-11-039337 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20110218 DATE AS OF CHANGE: 20110217 EFFECTIVENESS DATE: 20110218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Funds II CENTRAL INDEX KEY: 0001398078 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-142592 FILM NUMBER: 11622111 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: BlackRock Fixed Income Trust DATE OF NAME CHANGE: 20070501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Funds II CENTRAL INDEX KEY: 0001398078 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22061 FILM NUMBER: 11622112 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: BlackRock Fixed Income Trust DATE OF NAME CHANGE: 20070501 0001398078 S000029307 BlackRock Floating Rate Income Portfolio C000090125 Investor A Shares C000090126 Investor C Shares C000090127 Institutional Shares C000093814 Investor C1 Shares 485BPOS 1 d485bpos.htm BLACKROCK FUNDS II BLACKROCK FUNDS II

As filed with the U.S. Securities and Exchange Commission on February 17, 2011

Securities Act File No. 333-142592

Investment Company Act File No. 811-22061

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-1A

REGISTRATION STATEMENT

UNDER

   THE SECURITIES ACT OF 1933    x
   Pre-Effective Amendment No.    ¨
   Post-Effective Amendment No. 47    x

and/or

REGISTRATION STATEMENT

UNDER

   THE INVESTMENT COMPANY ACT OF 1940    x

Amendment No. 48

(Check appropriate box or boxes)

 

 

BLACKROCK FUNDS II

(Exact Name of Registrant as Specified in Charter)

 

 

100 Bellevue Parkway

Wilmington, Delaware 19809

(Address of Principal Executive Office)

 

 

Registrant’s Telephone Number, including Area Code (800) 441-7762

John M. Perlowski

BlackRock Funds II

55 East 52nd Street, New York, New York 10055

(Name and Address of Agent for Service)

 

 

Copies to:

 

Counsel for the Fund:

Margery K. Neale, Esq.

Willkie Farr & Gallagher LLP

787 Seventh Avenue

New York, New York 10019-6009

 

Ira P. Shapiro, Esq.

BlackRock Advisors, LLC

55 East 52nd Street

New York, New York 10055


 

Continuous

(Approximate Date of Proposed Offering)

It is proposed that this filing will become effective:

  x immediately upon filing pursuant to paragraph (b)
  ¨ on          pursuant to paragraph (b)
  ¨ 60 days after filing pursuant to paragraph (a)(1)
  ¨ on          pursuant to paragraph (a)(1)
  ¨ 75 days after filing pursuant to paragraph (a)(2)
  ¨ on          pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

  ¨ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

Title of Securities Being Registered: Shares of Beneficial Interest, par value, $0.001 per share.

This filing relates solely to BlackRock Floating Rate Income Portfolio.

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for the effectiveness of this Registration Statement under Rule 485(b) under the Securities Act and it has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, and the State of New York on the 17th day of February, 2011.

 

  BLACKROCK FUNDS II
 

(Registrant)

  on behalf of BlackRock Floating Rate Income Portfolio.
By:  

/s/ JOHN M. PERLOWSKI

  (John M. Perlowski,
  President and Chief Executive Officer)

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

 

Signature

  

Title

 

Date

/S/ JOHN M. PERLOWSKI

John M. Perlowski

  

President and Chief Executive Officer (Principal Executive Officer)

  February 17, 2011

/S/ NEAL J. ANDREWS

Neal J. Andrews

  

Chief Financial Officer (Principal Financial and Accounting Officer)

  February 17, 2011

JAMES H. BODURTHA*

(James H. Bodurtha)

  

Trustee

 

BRUCE R. BOND*

(Bruce R. Bond)

  

Trustee

 

DONALD W. BURTON*

(Donald W. Burton)

  

Trustee

 

STUART E. EIZENSTAT*

(Stuart E. Eizenstat)

  

Trustee

 

KENNETH A. FROOT*

(Kenneth A. Froot)

  

Trustee

 

ROBERT M. HERNANDEZ*

(Robert M. Hernandez)

  

Trustee

 

 

- 3 -


JOHN F. O’BRIEN*

(John F. O’Brien)

  

Trustee

 

ROBERTA COOPER RAMO*

(Roberta Cooper Ramo)

  

Trustee

 

DAVID H. WALSH*

(David H. Walsh)

  

Trustee

 

FRED G. WEISS*

(Fred G. Weiss)

  

Trustee

 

RICHARD S. DAVIS*

(Richard S. Davis)

  

Trustee

 

LAURENCE D. FINK*

(Laurence D. Fink)

  

Trustee

 

HENRY GABBAY*

(Henry Gabbay)

  

Trustee

 

 

*By:  

/s/ BEN ARCHIBALD

    February 17, 2011
  Ben Archibald (Attorney-in-Fact)    

 

- 4 -


EXHIBIT INDEX

 

Index No.

  

Description of Exhibit

EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CAL    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase

 

- 5 -

EX-101.INS 3 cik0001398078d-20110128.xml XBRL INSTANCE DOCUMENT 0001398078 cik001398078:InvInstMember cik001398078:S000029307Member 2011-01-28 2011-01-28 0001398078 cik001398078:C1SharesMember cik001398078:S000029307Member 2011-01-28 2011-01-28 0001398078 cik001398078:InvInstMember cik001398078:S000029307Member cik001398078:C000090127Member 2011-01-28 2011-01-28 0001398078 cik001398078:InvInstMember cik001398078:S000029307Member cik001398078:C000090126Member 2011-01-28 2011-01-28 0001398078 cik001398078:InvInstMember cik001398078:S000029307Member cik001398078:C000090125Member 2011-01-28 2011-01-28 0001398078 cik001398078:C1SharesMember cik001398078:S000029307Member cik001398078:C000093814Member 2011-01-28 2011-01-28 0001398078 2011-01-28 2011-01-28 iso4217:USD xbrli:pure false 2011-01-28 2011-01-28 2010-09-30 485BPOS 0001398078 BlackRock Funds II 0.0007 0.0007 0.0007 0.0007 <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioPrime column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div> <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioInvInst column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_7"> </a>Performance Information</i></b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_7"> </a>Performance Information</i></b></font></p></div> 0.0075 0.0025 0.01 0 <font class="_mt">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least <font class="_mt">$50,000 </font>in the BlackRock-advised fund complex.</font> 50000 <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Example: </b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Example: </b></font></p></div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p></div> </div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p></div> </div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">You would pay the following expenses if you did not redeem your shares: </font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">You would pay the following expenses if you did not redeem your shares: </font></p></div> <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioPrime row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div> <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioInvInst row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div> 190 190 592 719 <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioPrime row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div> <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioInvInst row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div> 290 361 290 79 592 771 719 407 <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_4"> </a>Fees and Expenses of the Fund</i></b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_4"> </a>Fees and Expenses of the Fund </i></b></font></p></div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">This table describes the fees and expenses that you may pay if you buy and hold Investor C1 Shares of the Fund.</font></p></div> </div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.&nbsp;<font class="_mt">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least <font class="_mt">$50,000 </font>in the BlackRock-advised fund complex.</font> 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-67 of the Fund's statement of additional information.</font></p></div> </div> 0.0189 0.0196 0.025 0.0152 -0.0002 -0.0084 -0.0063 -0.0075 <font class="_mt">February&nbsp;1, 2012</font> <font class="_mt">February 1, 2012</font> 0.0055 0.0055 0.0055 0.0055 0.01 0 0.01 0 0 0.025 0 0 0.0187 0.0112 0.0187 0.0077 <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_3"> </a>Investment Objective</i></b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_3"> </a>Investment Objective </i></b></font></p></div> <div> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The primary investment objective of the BlackRock Floating Rate Income Portfolio (the "Floating Rate Income Portfolio" or the "Fund") is to seek to provide high current income</font></font>, </font></font> </div> <div> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The primary investment objective of the BlackRock Floating Rate Income Portfolio (the "Floating Rate Income Portfolio" or the "Fund") is to seek to provide high current income</font></font>,</font></font> </div> <div> <font class="_mt">with a secondary objective of long-term capital appreciation</font> </div> <div> <font class="_mt">with a secondary objective of long-term capital appreciation.</font> </div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Annual Fund Operating Expenses</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Annual Fund Operating Expenses</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font></p></div> <font class="_mt">Other Expenses are based on estimated amounts for the current fiscal year</font> 0.0052 0.0109 0.0088 0.009 <font class="_mt">(800)&nbsp;441-7762</font> <font class="_mt">(800)&nbsp;441-7762</font> <font class="_mt"><a style="text-decoration: none;" href="funds"><font color="black" class="_mt">www.blackrock.com/funds</font></a></font> <font class="_mt">www.blackrock.com/funds </font> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">Because the Fund commenced operations on July&nbsp;9, 2010, there is no historical performance information shown. <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font></font></font>Current performance information is available through&nbsp;<font class="_mt"><a style="text-decoration: none;" href="funds"><font color="black" class="_mt">www.blackrock.com/funds</font></a></font> or may be obtained by calling <font class="_mt">(800)&nbsp;441-7762</font>. </font></p></div> </div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">Because the Fund commenced operations on July 9, 2010, there is no historical performance information shown. <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font></font></font>Current performance information is available through <font class="_mt">www.blackrock.com/funds </font>or may be obtained by calling <font class="_mt">(800)&nbsp;441-7762</font>. </font></p></div> </div> <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font> <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Portfolio Turnover: </b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Portfolio Turnover: </b></font></p></div> 0.64 0.64 <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">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 year end, the Fund's portfolio turnover rate was&nbsp;<font class="_mt">64%</font> of the average value of its portfolio. </font></p></div> </div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">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 year end, the Fund's portfolio turnover rate was&nbsp;<font class="_mt">64%</font> of the average value of its portfolio. </font></p></div> </div> 2011-01-28 -0.02 -0.02 -0.02 -0.02 <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_6"> </a>Principal Risks of Investing in the Fund</i></b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_6"> </a>Principal Risks of Investing in the Fund</i></b></font></p></div> <font class="_mt">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> <font class="_mt">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> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;<font class="_mt">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> The following is a summary description of certain risks of investing in the Fund. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Convertible Securities Risk </i></b>&#8212; The market value of a convertible security performs like that of a regular debt security; that is, if market interest rates rise, the value of a convertible security usually falls. In addition, convertible securities are subject to the risk that the issuer will not be able to pay interest or dividends when due, and their market value may change based on changes in the issuer's credit rating or the market's perception of the issuer's creditworthiness. Since it derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Corporate Loans Risk </i></b>&#8212; Commercial banks and other financial institutions or institutional investors make corporate loans to companies that need capital to grow or restructure. Borrowers generally pay interest on corporate loans at rates that change in response to changes in market interest rates such as the London Interbank Offered Rate ("LIBOR") or the prime rates of U.S. banks. As a result, the value of corporate loan investments is generally less exposed to the adverse effects of shifts in market interest rates than investments that pay a fixed rate of interest. The market for corporate loans may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. The corporate loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Counterparty Risk </i></b>&#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund's securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit Risk </i></b>&#8212; Credit risk refers to the possibility that the issuer of a security will not be able to make payments of interest and principal when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Derivatives Risk </i></b>&#8212; 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 great er risk and increase its costs. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Distressed Securities Risk </i></b>&#8212; Distressed securities are speculative and involve substantial risks in addition to the risks of investing in junk bonds. The Fund will generally not receive interest payments on the distressed securities and may incur costs to protect its investment. In addition, distressed securities involve the substantial risk that principal will not be repaid. These securities may present a substantial risk of default or may be in default at the time of investment. The Fund may incur additional expenses to the extent it is required to seek recovery upon a default in the payment of principal of or interest on its portfolio holdings. In any reorganization or liquidation proceeding relating to a portfolio company, the Fund may lose its entire investment or may be required to accept cash or securities with a value less than its original investment. Distressed securiti es and any securities received in an exchange for such securities may be subject to restrictions on resale. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Dividend Risk </i></b>&#8212; Because most of the corporate loans held by the Fund will have floating or variable interest rates, the amounts of the Fund's monthly distributions to its stockholders are expected to vary with fluctuations in market interest rates. Generally, when market interest rates fall, the amount of the distributions to stockholders will likewise decrease. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Emerging Markets Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Equity Securities Risk </i></b>&#8212; Stock markets are volatile. The price of equity securities fluctuates based on changes in a company's financial condition and overall market and economic conditions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Event Risk </i></b>&#8212; Event risk is the risk that corporate issuers may undergo restructurings, such as mergers, leveraged buyouts, takeovers, or similar events financed by increased debt. As a result of the added debt, the credit quality and market value of a company's bonds and/or other debt securities may decline significantly. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Extension Risk </i></b>&#8212; When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Foreign Securities Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2">Changes in foreign currency exchange rates can affect the value of the Fund's portfolio. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;securities laws. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>High Portfolio Turnover Risk </i></b>&#8212; The Fund may engage in active and frequent trading of its portfolio securities. High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs on the sale of the securities and on reinvestment in other securities. The sale of Fund portfolio securities may result in the realization and/or distribution to shareholders of higher capital gains or losses as compared to a fund with less active trading policies. Given the frequency of sales, such gain or loss will likely be short-term capital gain or loss and, in the event of a gain, would increase an investor's tax liability unless shares are held through a tax-deferred or exempt vehicle. These effects of higher than normal portfolio turnover may adversely affect Fund performance. </font>< ;/p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk </i></b>&#8212; Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall, and decrease as interest rates rise. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Junk Bonds Risk </i></b>&#8212; Although junk bonds generally pay higher rates of interest than investment grade bonds, junk bonds are high risk investments that may cause income and principal losses for the Fund. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Liquidity Risk </i></b>&#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund's investments in illiquid securities may reduce the returns of the Fund because it may be difficult to sell the illiquid securities at an advantageous time or price. To the extent that the Fund's principal investment strategies involve derivatives or securities with substantial market and/or credit risk, the Fund will tend to have the greatest exposure to liquidity risk. Liquid investments may become illiquid after purchase by the Fund, particularly during periods of market turmoil. Illiquid investments may be harder to value, especially in changing markets, and if the Fund is forced to sell these investments to meet redemption requests or for other cash needs, the Fund may suffer a loss. In addition, when there is illiquidity in the market for certain securities, the Fu nd, due to limitations on illiquid investments, may be subject to purchase and sale restrictions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Market Risk and Selection Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Mezzanine Securities Risk </i></b>&#8212; Mezzanine securities carry the risk that the issuer will not be able to meet its obligations and that the equity securities purchased with the mezzanine investments may lose value. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Preferred Securities Risk </i></b>&#8212; Preferred securities may pay fixed or adjustable rates of return. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company's preferred securities generally pay dividends only after the company makes required payments to holders of its bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt to actual or perceived changes in the company's financial condition or prospects. Preferred securities of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Prepayment Risk </i></b>&#8212; When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Second Lien Loans Risk </i></b>&#8212; Second lien loans generally are subject to similar risks as those associated with investments in senior loans. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Senior Loans Risk </i></b>&#8212; There is less readily available, reliable information about most senior loans than is the case for many other types of securities. An economic downturn generally leads to a higher non-payment rate, and a senior loan may lose significant value before a default occurs. Moreover, any specific collateral used to secure a senior loan may decline in value or become illiquid, which would adversely affect the senior loan's value. No active trading market may exist for certain senior loans, which may impair the ability of the Fund to realize full value in the event of the need to sell a senior loan and which may make it difficult to value senior loans. Although senior loans in which the Fund will invest generally will be secured by specific collateral, there can be no assurance that liquidation of such collateral would satisfy the borrower's obligation in the event of non-payment of scheduled interest or principal or that such collateral could be readily liquidated. To the extent that a senior loan is collateralized by stock in the borrower or its subsidiaries, such stock may lose all of its value in the event of the bankruptcy of the borrower. Uncollateralized senior loans involve a greater risk of loss. The senior loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Structured Products Risk </i></b>&#8212; Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Fund may have the right to receive payments only from the structured product, and generally does not have direct rights against the issuer or the entity that sold the assets to be securitized. Certain structured products may be thinly traded or have a limited trading market. In addition to the general risks associated with debt securities discussed herein, structured products carry additional risks, including, but not limited to: the possibility that distributions from collateral securities will not be adequate to make interest or other payments; the quality of the collateral may decline in value or default; and the possibility that the structured products are subordinate to other classes. Structured notes are based upon the movement of one or more factors, including currency exchange rates, interest rates, referenced bonds and stock indices, and changes in interest rates and impact of these factors may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on the structured note to be reduced to zero. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>U.S. Government Issuer Risk </i></b>&#8212; Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. </font></p></td></tr></table></div> </div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;<font class="_mt">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> The following is a summary description of certain risks of investing in the Fund. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Convertible Securities Risk</i></b> &#8212; The market value of a convertible security performs like that of a regular debt security; that is, if market interest rates rise, the value of a convertible security usually falls. In addition, convertible securities are subject to the risk that the issuer will not be able to pay interest or dividends when due, and their market value may change based on changes in the issuer's credit rating or the market's perception of the issuer's creditworthiness. Since it derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Corporate Loans Risk </i></b>&#8212; Commercial banks and other financial institutions or institutional investors make corporate loans to companies that need capital to grow or restructure. Borrowers generally pay interest on corporate loans at rates that change in response to changes in market interest rates such as the London Interbank Offered Rate ("LIBOR") or the prime rates of U.S. banks. As a result, the value of corporate loan investments is generally less exposed to the adverse effects of shifts in market interest rates than investments that pay a fixed rate of interest. The market for corporate loans may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. The corporate loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Counterparty Risk </i></b>&#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund's securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit Risk </i></b>&#8212; Credit risk refers to the possibility that the issuer of a security will not be able to make payments of interest and principal when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Derivatives Risk </i></b>&#8212; 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 great er risk and increase its costs. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Distressed Securities Risk </i></b>&#8212; Distressed securities are speculative and involve substantial risks in addition to the risks of investing in junk bonds. The Fund will generally not receive interest payments on the distressed securities and may incur costs to protect its investment. In addition, distressed securities involve the substantial risk that principal will not be repaid. These securities may present a substantial risk of default or may be in default at the time of investment. The Fund may incur additional expenses to the extent it is required to seek recovery upon a default in the payment of principal of or interest on its portfolio holdings. In any reorganization or liquidation proceeding relating to a portfolio company, the Fund may lose its entire investment or may be required to accept cash or securities with a value less than its original investment. Distressed securiti es and any securities received in an exchange for such securities may be subject to restrictions on resale. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Dividend Risk </i></b>&#8212; Because most of the corporate loans held by the Fund will have floating or variable interest rates, the amounts of the Fund's monthly distributions to its stockholders are expected to vary with fluctuations in market interest rates. Generally, when market interest rates fall, the amount of the distributions to stockholders will likewise decrease. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Emerging Markets Risk</i></b> &#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Equity Securities Risk </i></b>&#8212; Stock markets are volatile. The price of equity securities fluctuates based on changes in a company's financial condition and overall market and economic conditions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Event Risk</i></b> &#8212; Event risk is the risk that corporate issuers may undergo restructurings, such as mergers, leveraged buyouts, takeovers, or similar events financed by increased debt. As a result of the added debt, the credit quality and market value of a company's bonds and/or other debt securities may decline significantly. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Extension Risk</i></b> &#8212; When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Foreign Securities Risk</i></b> &#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2">Changes in foreign currency exchange rates can affect the value of the Fund's portfolio. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>High Portfolio Turnover Risk</i></b> &#8212; The Fund may engage in active and frequent trading of its portfolio securities. High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs on the sale of the securities and on reinvestment in other securities. The sale of Fund portfolio securities may result in the realization and/or distribution to shareholders of higher capital gains or losses as compared to a fund with less active trading policies. Given the frequency of sales, such gain or loss will likely be short-term capital gain or loss and, in the event of a gain, would increase an investor's tax liability unless shares are held through a tax-deferred or exempt vehicle. These effects of higher than normal portfolio turnover may adversely affect Fund performance. </font>< ;/p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk</i></b> &#8212; Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall, and decrease as interest rates rise. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Junk Bonds Risk</i></b> &#8212; Although junk bonds generally pay higher rates of interest than investment grade bonds, junk bonds are high risk investments that may cause income and principal losses for the Fund. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Liquidity Risk</i></b> &#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund's investments in illiquid securities may reduce the returns of the Fund because it may be difficult to sell the illiquid securities at an advantageous time or price. To the extent that the Fund's principal investment strategies involve derivatives or securities with substantial market and/or credit risk, the Fund will tend to have the greatest exposure to liquidity risk. Liquid investments may become illiquid after purchase by the Fund, particularly during periods of market turmoil. Illiquid investments may be harder to value, especially in changing markets, and if the Fund is forced to sell these investments to meet redemption requests or for other cash needs, the Fund may suffer a loss. In addition, when there is illiquidity in the market for certain securities, the Fu nd, due to limitations on illiquid investments, may be subject to purchase and sale restrictions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Market Risk and Selection Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Mezzanine Securities Risk </i></b>&#8212; Mezzanine securities carry the risk that the issuer will not be able to meet its obligations and that the equity securities purchased with the mezzanine investments may lose value. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Preferred Securities Risk </i></b>&#8212; Preferred securities may pay fixed or adjustable rates of return. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company's preferred securities generally pay dividends only after the company makes required payments to holders of its bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt to actual or perceived changes in the company's financial condition or prospects. Preferred securities of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Prepayment Risk </i></b>&#8212; When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Second Lien Loans Risk </i></b>&#8212; Second lien loans generally are subject to similar risks as those associated with investments in senior loans. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Senior Loans Risk</i></b> &#8212; There is less readily available, reliable information about most senior loans than is the case for many other types of securities. An economic downturn generally leads to a higher non-payment rate, and a senior loan may lose significant value before a default occurs. Moreover, any specific collateral used to secure a senior loan may decline in value or become illiquid, which would adversely affect the senior loan's value. No active trading market may exist for certain senior loans, which may impair the ability of the Fund to realize full value in the event of the need to sell a senior loan and which may make it difficult to value senior loans. Although senior loans in which the Fund will invest generally will be secured by specific collateral, there can be no assurance that liquidation of such collateral would satisfy the borrower's obligation in the event of non-payment of scheduled interest or principal or that such collateral could be readily liquidated. To the extent that a senior loan is collateralized by stock in the borrower or its subsidiaries, such stock may lose all of its value in the event of the bankruptcy of the borrower. Uncollateralized senior loans involve a greater risk of loss. The senior loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Structured Products Risk</i></b> &#8212; Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Fund may have the right to receive payments only from the structured product, and generally does not have direct rights against the issuer or the entity that sold the assets to be securitized. Certain structured products may be thinly traded or have a limited trading market. In addition to the general risks associated with debt securities discussed herein, structured products carry additional risks, including, but not limited to: the possibility that distributions from collateral securities will not be adequate to make interest or other payments; the quality of the collateral may decline in value or default; and the possibility that the structured products are subordinate to other classes. Structured notes are based upon the movement of one or more factors, including currency exchange rates, interest rates, referenced bonds and stock indices, and changes in interest rates and impact of these factors may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on the structured note to be reduced to zero. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>U.S. Government Issuer Risk</i></b> &#8212; Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. </font></p></td></tr></table></div> </div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="7">Fund Overview </font></p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_2"> </a>Key Facts about BlackRock Floating Rate Income Portfolio</i></b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="7">Fund Overview </font></p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_2"> </a>Key Facts about BlackRock Floating Rate Income Portfolio </i></b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Shareholder Fees</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(fees paid directly from your investment)</b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Shareholder Fees</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(fees paid directly from your investment)</b></font></p></div> <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleShareholderFeesBlackrockFloatingRateIncomePortfolioPrime column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div> <div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleShareholderFeesBlackrockFloatingRateIncomePortfolioInvInst column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_5"> </a>Principal Investment Strategies of the Fund</i></b></font></p></div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_5"> </a>Principal Investment Strategies of the Fund</i></b></font></p></div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>These investments may include but are not limited to, any combination of the following securities: (i)&nbsp;senior secured floating rate loans or debt; (ii)&nbsp;second lien or other subordinated or unsecured floating rate loans or debt; and (iii)&nbsp;fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. The Fund may also purchase, without limitation, participations or assignments in senior floating rate loans or second lien floating rate loans. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">For purposes of the Fund's investments, the term debt includes investments in convertible or preferred securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of any credit quality without limitation, including securities rated below investment grade. The Fund anticipates that, under current market conditions, substantially all of its portfolio will consist of securities rated below investment grade, which are commonly referred to as "junk bonds." </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 20% of its assets in fixed income securities with respect to which the Fund has not entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. Such fixed income securities include, but are not limited to, corporate bonds, preferred securities, convertible securities, mezzanine investments, collateralized loan obligations, senior loans, second lien loans, structured products and U.S. government debt securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund's investments in any floating rate and fixed income securities may be of any duration or maturity. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of foreign issuers, including issuers located in emerging markets, without limitation. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest up to 15% of its assets in illiquid securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest in companies whose financial condition is uncertain, where the borrower has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 10% of its assets in common stocks or other equity securities. In addition, the Fund may acquire and hold such securities (or rights to acquire such securities) in unit offerings with fixed income securities, in connection with an amendment, waiver, conversion or exchange of fixed income securities, in connection with the bankruptcy or workout of a distressed fixed income security, or upon the exercise of a right or warrant obtained on account of a fixed income security. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may buy or sell options or futures on a security or an index of securities, buy or sell options on futures or enter into credit default swaps and interest rate or foreign currency transactions, including swaps and forward contracts (collectively, commonly known as derivatives). The Fund may use derivatives for hedging purposes, as well as to increase the total return on its portfolio investments. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. </font></p></div> </div> <div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>These investments may include but are not limited to, any combination of the following securities: (i)&nbsp;senior secured floating rate loans or debt; (ii)&nbsp;second lien or other subordinated or unsecured floating rate&nbsp;loans or debt; and (iii)&nbsp;fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. The Fund may also purchase, without limitation, participations or assignments in senior floating rate loans o r second lien floating rate loans. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">For purposes of the Fund's investments, the term debt includes investments in convertible or preferred securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of any credit quality without limitation, including securities rated below investment grade. The Fund anticipates that, under current market conditions, substantially all of its portfolio will consist of securities rated below investment grade, which are commonly referred to as "junk bonds." </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 20% of its assets in fixed income securities with respect to which the Fund has not entered into derivative instruments to effectively convert the fixed-rate interest payments into floating-rate interest payments. Such fixed income securities include, but are not limited to, corporate bonds, preferred securities, convertible securities, mezzanine investments, collateralized loan obligations, senior loans, second lien loans, structured products and U.S. government debt securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund's investments in any floating rate and fixed income securities may be of any duration or maturity. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of foreign issuers, including issuers located in emerging markets, without limitation. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest up to 15% of its assets in illiquid securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest in companies whose financial condition is uncertain, where the borrower has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 10% of its assets in common stocks or other equity securities. In addition, the Fund may acquire and hold such securities (or rights to acquire such securities) in unit offerings with fixed income securities, in connection with an amendment, waiver, conversion or exchange of fixed income securities, in connection with the bankruptcy or workout of a distressed fixed income security, or upon the exercise of a right or warrant obtained on account of a fixed income security. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may buy or sell options or futures on a security or an index of securities, buy or sell options on futures or enter into credit default swaps and interest rate or foreign currency transactions, including swaps and forward contracts (collectively, commonly known as derivatives). The Fund may use derivatives for hedging purposes, as well as to increase the total return on its portfolio investments. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. </font></p></div> </div> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font> As described in the "Management of the Fund" section of the Fund's prospectus on page 27, 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 1.80% (for Investor C1 shares) of average daily net assets until February 1, 2012. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. 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. As described in the "Management of the Fund" section of the Fund's prospectus on page 34, 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 1.05% (for Investor A shares), 1.80% (for Investor C shares) and 0.70% (for Institutional shares) of average daily net assets until February 1, 2012. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. 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. There is no CDSC on Investor C1 Shares after one year. A contingent deferred sales charge ("CDSC") of 0.75% 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 $500,000 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. Shares received in connection with the reorganization with the BlackRock Senior Floating Rate Fund II, Inc. will not be subject to CDSCs or redemption fees upon the sale of shares of the Fund received in the reorganization. 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The format of the date is CCYY-MM-DD.No authoritative reference available.falsefalse5false0dei_EntityRegistrantNamedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00BlackRock Funds IIfalsefalsefalsefalsefalseOtherxbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 falsefalse6false0dei_EntityCentralIndexKeydeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse000001398078falsefalsefalsefalsefalseOtherus-types:centralIndexKeyItemTypenaA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 falsefalse7false0dei_AmendmentFlagdeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse 00falsefalsefalsefalsefalsefalseOtherxbrli:booleanItemTypenaIf the value is true, then the document as an amendment to previously-filed/accepted document.No authoritative reference available.falsefalse8false0dei_DocumentCreationDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-01-28falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date the document was made available and submitted, in CCYY-MM-DD format. The date of submission, date of acceptance by the recipient, and the document effective date are all potentially different.No authoritative reference available.falsefalse9false0dei_DocumentEffectiveDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-01-28falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date when a document, upon receipt and acceptance, becomes officially effective, in CCYY-MM-DD format. Usually it is a system-assigned date time value, but it may be declared by the submitter in some cases.No authoritative reference available.falsefalse10false0rr_ProspectusDaterrfalsenadurationNo definition available.falsefalsefalsefalsefa lsefalsefalsefalsefalsefalse1falsefalsefalse002011-01-28falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date of the prospectus.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Paragraph 3 -Subsection a falsefalse11false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse2falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Inv Inst Member {dei_LegalEntityAxis} : S000029307 Member {rr_ProspectusShareClassAxis} : C000090125 Member 1/28/2011 - 1/28/2011 USD ($) $Duration_1_28_2011_To_1_28_20113http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei _LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor A Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090125Memberrr_ProspectusShareClassAxisexplicitMemberUnit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0Unit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$OthernaNo definition available.No authoritative reference available.falsefalse12true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00< CurrencySymbol />falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse13false0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.0250.025falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. 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A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalse15false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated 1truetruetrue0.020.02falsefalsefalsefalsefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any re demption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalse16false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetru etrue0.00550.0055falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalse17false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00250.0025falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Refer ence 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalse18false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.01090.0109falsefalsefalsefalsefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Oth er Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalse19false0rr_AcquiredFundFeesAndExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse20false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetrue true0.01960.0196falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that inv ests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalse21false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetru e-0.0084-0.0084[2]falsefalsefalsefalsefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption s howing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse22false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.01120.0112[2]falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse23false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue361361falsetruefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.< ElementReferences>Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse24false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue771771falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalse25false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse3falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Inv Inst Member {dei_LegalEntityAxis} : S000029307 Member {rr_ProspectusShareClassAxis} : C000090126 Member 1/28/2011 - 1/28/2011 USD ($) $Duration_1_28_2011_To_1_28_20114http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei _LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090126Memberrr_ProspectusShareClassAxisexplicitMemberUnit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0Unit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$OthernaNo definition available.No authoritative reference available.falsefalse26true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00< CurrencySymbol />falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse27false0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureM aximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Ch arge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection table falsefalse28false0rr_MaximumDeferredSalesChargeOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truetruetrue0.010.01[3]falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalse29false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated 1truetruetrue0.020.02falsefalsefalsefalsefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any re demption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalse30false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetru etrue0.00550.0055falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalse31false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.010.01falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalse32false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.00880.0088falsefalsefalsefalsefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Oth er Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalse33false0rr_AcquiredFundFeesAndExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse34false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetrue true0.0250.025falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that inves ts in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalse35false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetru e-0.0063-0.0063[2]falsefalsefalsefalsefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption s howing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse36false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.01870.0187[2]falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse37false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue290290falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower. Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse38false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue719719falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalse39false0rr_ExpenseExampleNoRedemptionYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue 190190falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse40false0rr_ExpenseExampleNoRedemptionYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue< /DisplayZeroAsNone>719719falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse41false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse4falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Inv Inst Member {dei_LegalEntityAxis} : S000029307 Member {rr_ProspectusShareClassAxis} : C000090127 Member 1/28/2011 - 1/28/2011 USD ($) $Duration_1_28_2011_To_1_28_20115http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei _LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInstitutional Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090127Memberrr_ProspectusShareClassAxisexplicitMemberUnit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0Unit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$OthernaNo definition available.No authoritative reference available.falsefalse42true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse43false0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection table falsefalse44false0rr_MaximumDeferredSalesChargeOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truetruetrue00falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalse45false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated 1truetruetrue0.020.02falsefalsefalsefalsefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any re demption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalse46false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetru etrue0.00550.0055falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalse47false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalse48false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.0090.009falsefalsefalsefalsefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalse49false0rr_AcquiredFundFeesAndExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse50false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetrue true0.01520.0152falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that inv ests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalse51false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetru e-0.0075-0.0075[2]falsefalsefalsefalsefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption s howing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse52false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.00770.0077[2]falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse53false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue7979falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse54false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue407407falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalse55false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse5falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Inv Inst Member {dei_LegalEntityAxis} : S000029307 Member 1/28/2011 - 1/28/2011 USD ($) $Duration_1_28_2011_To_1_28_20117http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei _LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$OthernaNo definition available.No authoritative reference available.falsefalse56true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse< Label>Risk/Return:57false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="7">Fund Overview </font></p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_2"> </a>Key Facts about BlackRock Floating Rate Income Portfolio </i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedRefer ence 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalse58false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_3"> </a>Investment Objective </i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse59false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The primary investment objective of the BlackRock Floating Rate Income Portfolio (the "Floating Rate Income Portfolio" or the "Fund") is to seek to provide high current income</font></font>,</font></font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse60false0rr_ObjectiveSecondaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <font class="_mt">with a secondary objective of long-term capital appreciation.</font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse61false0rr_ExpenseHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_4"> </a>Fees and Expenses of the Fund </i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fun d 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. 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 year, the Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalse62false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.&nbsp;<font class="_mt">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least <font class="_mt">$50,000 </font>in the BlackRock-advised fund complex.</font> 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-67 of the Fund's statement of additional information.</font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalse63false0rr_ShareholderFeesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Shareholder Fees</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(fees paid directly from your investment)</b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShareholder Fees (fees paid directly from your investment).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subsection table falsefalse64false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Annual Fund Operating Expenses</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalse65false0rr_FeeWaiverOrReimbursementOverAssetsDateOfTerminationrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">February 1, 2012</font>falsefalsefalsefalsefalseOtherus-types:dateStringItemTypenormalizedstringThis element represents the date of expected termination of any expense reimbursement or fee waiver arrangements that reduce any Fund operating expenses (SEC Form N-1A 2006-09-14 A.3.table.1.11 Total Annual Fund Operating Expenses A.3.instructions.3.e).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph e -Subsection instructions falsefalse66false0rr_PortfolioTurnoverHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Portfolio Turnover: </b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information requir ed by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalse67false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">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 year end, the Fund's portfolio turnover rate was&nbsp;<font class="_mt">64%</font> of the average value of its portfolio. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalse68false0rr_PortfolioTurnoverRaterrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruefalse0.640.64falsefalsefalsefalsefalseOtherxbrli:pureItemTypepureThis element represents the rate of portfolio turnover presented as a percentage (SEC Form N-1A 2006-09-14 A.3.example.3 Portfolio Turnover A.3.instructions.5 Portfolio Turnover).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalse69false0rr_ExpenseBreakpointDiscountsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least <font class="_mt">$50,000 </font>in the BlackRock-advised fund complex.</font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInclude the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation re garding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalse70false0rr_ExpenseBreakpointMinimumInvestmentRequiredAmountrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse5000050000falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThis element represents the minimum level of investment required to qualify for discounted sales charges or fund expenses (SEC Form N-1A 2006-09-14 A.3.instructions.1.b).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalse71false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Example: </b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse72false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalse73false0rr_ExpenseExampleNoRedemptionByYearCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">You would pay the following expenses if you did not redeem your shares: </font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse74false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsef alse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_5"> </a>Principal Investment Strategies of the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse75false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>These investments may include but are not limited to, any combination of the following securities: (i)&nbsp;senior secured floating rate loans or debt; (ii)&nbsp;second lien or other subordinated or unsecured floating rate&nbsp;loans or debt; and (iii)&nbsp;fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. The Fund may also purchase, without limitation, participations or assignments in senior floating rate loans o r second lien floating rate loans. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">For purposes of the Fund's investments, the term debt includes investments in convertible or preferred securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of any credit quality without limitation, including securities rated below investment grade. The Fund anticipates that, under current market conditions, substantially all of its portfolio will consist of securities rated below investment grade, which are commonly referred to as "junk bonds." </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 20% of its assets in fixed income securities with respect to which the Fund has not entered into derivative instruments to effectively convert the fixed-rate interest payments into floating-rate interest payments. Such fixed income securities include, but are not limited to, corporate bonds, preferred securities, convertible securities, mezzanine investments, collateralized loan obligations, senior loans, second lien loans, structured products and U.S. government debt securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund's investments in any floating rate and fixed income securities may be of any duration or maturity. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of foreign issuers, including issuers located in emerging markets, without limitation. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest up to 15% of its assets in illiquid securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest in companies whose financial condition is uncertain, where the borrower has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 10% of its assets in common stocks or other equity securities. In addition, the Fund may acquire and hold such securities (or rights to acquire such securities) in unit offerings with fixed income securities, in connection with an amendment, waiver, conversion or exchange of fixed income securities, in connection with the bankruptcy or workout of a distressed fixed income security, or upon the exercise of a right or warrant obtained on account of a fixed income security. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may buy or sell options or futures on a security or an index of securities, buy or sell options on futures or enter into credit default swaps and interest rate or foreign currency transactions, including swaps and forward contracts (collectively, commonly known as derivatives). The Fund may use derivatives for hedging purposes, as well as to increase the total return on its portfolio investments. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse76false0rr_StrategyPortfolioConcentrationrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve i ts investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse77false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_6"> </a>Principal Risks of Investing in the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalse78false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;<font class="_mt">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> The following is a summary description of certain risks of investing in the Fund. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Convertible Securities Risk</i></b> &#8212; The market value of a convertible security performs like that of a regular debt security; that is, if market interest rates rise, the value of a convertible security usually falls. In addition, convertible securities are subject to the risk that the issuer will not be able to pay interest or dividends when due, and their market value may change based on changes in the issuer's credit rating or the market's perception of the issuer's creditworthiness. Since it derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Corporate Loans Risk </i></b>&#8212; Commercial banks and other financial institutions or institutional investors make corporate loans to companies that need capital to grow or restructure. Borrowers generally pay interest on corporate loans at rates that change in response to changes in market interest rates such as the London Interbank Offered Rate ("LIBOR") or the prime rates of U.S. banks. As a result, the value of corporate loan investments is generally less exposed to the adverse effects of shifts in market interest rates than investments that pay a fixed rate of interest. The market for corporate loans may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. The corporate loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Counterparty Risk </i></b>&#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund's securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit Risk </i></b>&#8212; Credit risk refers to the possibility that the issuer of a security will not be able to make payments of interest and principal when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Derivatives Risk </i></b>&#8212; 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 great er risk and increase its costs. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Distressed Securities Risk </i></b>&#8212; Distressed securities are speculative and involve substantial risks in addition to the risks of investing in junk bonds. The Fund will generally not receive interest payments on the distressed securities and may incur costs to protect its investment. In addition, distressed securities involve the substantial risk that principal will not be repaid. These securities may present a substantial risk of default or may be in default at the time of investment. The Fund may incur additional expenses to the extent it is required to seek recovery upon a default in the payment of principal of or interest on its portfolio holdings. In any reorganization or liquidation proceeding relating to a portfolio company, the Fund may lose its entire investment or may be required to accept cash or securities with a value less than its original investment. Distressed securiti es and any securities received in an exchange for such securities may be subject to restrictions on resale. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Dividend Risk </i></b>&#8212; Because most of the corporate loans held by the Fund will have floating or variable interest rates, the amounts of the Fund's monthly distributions to its stockholders are expected to vary with fluctuations in market interest rates. Generally, when market interest rates fall, the amount of the distributions to stockholders will likewise decrease. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Emerging Markets Risk</i></b> &#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Equity Securities Risk </i></b>&#8212; Stock markets are volatile. The price of equity securities fluctuates based on changes in a company's financial condition and overall market and economic conditions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Event Risk</i></b> &#8212; Event risk is the risk that corporate issuers may undergo restructurings, such as mergers, leveraged buyouts, takeovers, or similar events financed by increased debt. As a result of the added debt, the credit quality and market value of a company's bonds and/or other debt securities may decline significantly. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Extension Risk</i></b> &#8212; When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Foreign Securities Risk</i></b> &#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2">Changes in foreign currency exchange rates can affect the value of the Fund's portfolio. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>High Portfolio Turnover Risk</i></b> &#8212; The Fund may engage in active and frequent trading of its portfolio securities. High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs on the sale of the securities and on reinvestment in other securities. The sale of Fund portfolio securities may result in the realization and/or distribution to shareholders of higher capital gains or losses as compared to a fund with less active trading policies. Given the frequency of sales, such gain or loss will likely be short-term capital gain or loss and, in the event of a gain, would increase an investor's tax liability unless shares are held through a tax-deferred or exempt vehicle. These effects of higher than normal portfolio turnover may adversely affect Fund performance. </font>< ;/p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk</i></b> &#8212; Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall, and decrease as interest rates rise. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Junk Bonds Risk</i></b> &#8212; Although junk bonds generally pay higher rates of interest than investment grade bonds, junk bonds are high risk investments that may cause income and principal losses for the Fund. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Liquidity Risk</i></b> &#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund's investments in illiquid securities may reduce the returns of the Fund because it may be difficult to sell the illiquid securities at an advantageous time or price. To the extent that the Fund's principal investment strategies involve derivatives or securities with substantial market and/or credit risk, the Fund will tend to have the greatest exposure to liquidity risk. Liquid investments may become illiquid after purchase by the Fund, particularly during periods of market turmoil. Illiquid investments may be harder to value, especially in changing markets, and if the Fund is forced to sell these investments to meet redemption requests or for other cash needs, the Fund may suffer a loss. In addition, when there is illiquidity in the market for certain securities, the Fu nd, due to limitations on illiquid investments, may be subject to purchase and sale restrictions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Market Risk and Selection Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Mezzanine Securities Risk </i></b>&#8212; Mezzanine securities carry the risk that the issuer will not be able to meet its obligations and that the equity securities purchased with the mezzanine investments may lose value. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Preferred Securities Risk </i></b>&#8212; Preferred securities may pay fixed or adjustable rates of return. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company's preferred securities generally pay dividends only after the company makes required payments to holders of its bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt to actual or perceived changes in the company's financial condition or prospects. Preferred securities of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Prepayment Risk </i></b>&#8212; When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Second Lien Loans Risk </i></b>&#8212; Second lien loans generally are subject to similar risks as those associated with investments in senior loans. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Senior Loans Risk</i></b> &#8212; There is less readily available, reliable information about most senior loans than is the case for many other types of securities. An economic downturn generally leads to a higher non-payment rate, and a senior loan may lose significant value before a default occurs. Moreover, any specific collateral used to secure a senior loan may decline in value or become illiquid, which would adversely affect the senior loan's value. No active trading market may exist for certain senior loans, which may impair the ability of the Fund to realize full value in the event of the need to sell a senior loan and which may make it difficult to value senior loans. Although senior loans in which the Fund will invest generally will be secured by specific collateral, there can be no assurance that liquidation of such collateral would satisfy the borrower's obligation in the event of non-payment of scheduled interest or principal or that such collateral could be readily liquidated. To the extent that a senior loan is collateralized by stock in the borrower or its subsidiaries, such stock may lose all of its value in the event of the bankruptcy of the borrower. Uncollateralized senior loans involve a greater risk of loss. The senior loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Structured Products Risk</i></b> &#8212; Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Fund may have the right to receive payments only from the structured product, and generally does not have direct rights against the issuer or the entity that sold the assets to be securitized. Certain structured products may be thinly traded or have a limited trading market. In addition to the general risks associated with debt securities discussed herein, structured products carry additional risks, including, but not limited to: the possibility that distributions from collateral securities will not be adequate to make interest or other payments; the quality of the collateral may decline in value or default; and the possibility that the structured products are subordinate to other classes. Structured notes are based upon the movement of one or more factors, including currency exchange rates, interest rates, referenced bonds and stock indices, and changes in interest rates and impact of these factors may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on the structured note to be reduced to zero. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>U.S. Government Issuer Risk</i></b> &#8212; Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. </font></p></td></tr></table></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalse79false0rr_RiskLoseMoneyrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">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>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringSummarize the principal risks of investing in the Fund, including the risks to which the Fund's portfolio as a whole is subject and the circumstances reasonably likely to affect adversely the Fund's net asset value, yield, and total return. Unless the Fund is a Money Market Fund , disclose that loss of money is a risk of investing in the Fund. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Subsection b falsefalse80false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_7"> </a>Performance Information</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse81false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsef alse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">Because the Fund commenced operations on July 9, 2010, there is no historical performance information shown. <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font></font></font>Current performance information is available through <font class="_mt">www.blackrock.com/funds </font>or may be obtained by calling <font class="_mt">(800)&nbsp;441-7762</font>. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse82false0rr_PerformanceOneYearOrLessrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringFor a Fund that provides annual total returns for only one calendar year or for a Fund that does not include the bar chart because it does not have annual returns for a full calendar year, modify, as appropriate, the narrative explanation required by stating that the information gives some ind ication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance). Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b Reference 2: 2 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph instructions -Clause 1 -Exhibit b -Subsection b falsefalse83false0rr_PerformanceAvailabilityPhonerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">(800)&nbsp;441-7762</font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf applicable, include a statement explaining that updated performance information is available and providing a Web site address and/or toll-free (or collect) telephone number where the updated information may be obtained.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalse84false0rr_PerformanceAvailabilityWebSiteAddressrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">www.blackrock.com/funds </font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf applicable, include a statement explaining that updated performance information is available and providing a Website address and/or toll-free (or collect) telephone number where the updated information may be obtained.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalse85false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse6falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : C1 Shares Member {dei_LegalEntityAxis} : S000029307 Member {rr_ProspectusShareClassAxis} : C000093814 Member 1/28/2011 - 1/28/2011 USD ($) $Duration_1_28_2011_To_1_28_20112http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseC1 Sharesdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C1SharesMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliod ei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C1 Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000093814Memberrr_ProspectusShareClassAxisexplicitMemberUnit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0Unit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$OthernaNo definition available.No authoritative reference available.falsefalse86true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse87false0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum S ales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection table falsefalse88false0rr_MaximumDeferredSalesChargeOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truetruetrue0.010.01[4]falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalse89false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated 1truetruetrue0.020.02[5]falsefalsefalsefalsefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any redemption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalse90false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetru etrue0.00550.0055falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalse91false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00750.0075falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Refer ence 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalse92false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.00520.0052[6]falsefalsefalsefalsefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CF R 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalse93false0rr_AcquiredFundFeesAndExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse94false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetrue true0.01890.0189falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that inv ests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalse95false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetru e-0.0002-0.0002[7]falsefalsefalsefalsefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption s howing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse96false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truetruetrue0.01870.0187[7]falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse97false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue290290falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower. Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse98false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue592592falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalse99false0rr_ExpenseExampleNoRedemptionYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue 190190falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse100false0rr_ExpenseExampleNoRedemptionYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue 592592falsetruefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse101false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse7falsefalsetruefalse{dei_DocumentInformationDocumentAxis} : C1 Shares Member {dei_LegalEntityAxis} : S000029307 Member 1/28/2011 - 1/28/2011 Duration_1_28_2011_To_1_28_20116http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseC1 Sharesdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C1SharesMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAx isxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberUnit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0OthernaNo definition available.No authoritative reference available.falsefalse102true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse103false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="7">Fund Overview </font></p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_2"> </a>Key Facts about BlackRock Floating Rate Income Portfolio</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedRefere nce 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalse104false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_3"> </a>Investment Objective</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse105false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse< NumericAmount>00<div> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The primary investment objective of the BlackRock Floating Rate Income Portfolio (the "Floating Rate Income Portfolio" or the "Fund") is to seek to provide high current income</font></font>, </font></font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestmen t Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse106false0rr_ObjectiveSecondaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <font class="_mt">with a secondary objective of long-term capital appreciation</font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse107false0rr_ExpenseHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_4"> </a>Fees and Expenses of the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. 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. 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 year, the Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalse108false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">This table describes the fees and expenses that you may pay if you buy and hold Investor C1 Shares of the Fund.</font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] fu nds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalse109false0rr_ShareholderFeesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Shareholder Fees</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(fees paid directly from your investment)</b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShareholder Fees (fees paid directly from your investment).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subsection table falsefalse110false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Annual Fund Operating Expenses</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalse111false0rr_FeeWaiverOrReimbursementOverAssetsDateOfTerminationrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">February&nbsp;1, 2012</font>falsefalsefalsefalsefalseOtherus-types:dateStringItemTypenormalizedstringThis element represents the date of expected termination of any expense reimbursement or fee waiver arrangements that reduce any Fund operating expenses (SEC Form N-1A 2006-09-14 A.3.table.1.11 Total Annual Fund Operating Expenses A.3.instructions.3.e).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph e -Subsection instructions falsefalse112false0rr_PortfolioTurnoverHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Portfolio Turnover: </b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information requir ed by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalse113false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">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 year end, the Fund's portfolio turnover rate was&nbsp;<font class="_mt">64%</font> of the average value of its portfolio. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalse114false0rr_PortfolioTurnoverRaterrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruefalse0.640.64falsefalsefalsefalsefalseOtherxbrli:pureItemTypepureThis element represents the rate of portfolio turnover presented as a percentage (SEC Form N-1A 2006-09-14 A.3.example.3 Portfolio Turnover A.3.instructions.5 Portfolio Turnover).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalse115false0rr_OtherExpensesNewFundBasedOnEstimatesrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">Other Expenses are based on estimated amounts for the current fiscal year</font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringThis element represents the disclosure for new funds that "Other Expenses" are based on estimated amounts for the current fiscal year.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 6 -Subparagraph a -Subsection instructions falsefalse116false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Example: </b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse117false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalse118false0rr_ExpenseExampleNoRedemptionByYearCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">You would pay the following expenses if you did not redeem your shares: </font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse119false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalse false00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_5"> </a>Principal Investment Strategies of the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse120false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse< NumericAmount>00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>These investments may include but are not limited to, any combination of the following securities: (i)&nbsp;senior secured floating rate loans or debt; (ii)&nbsp;second lien or other subordinated or unsecured floating rate loans or debt; and (iii)&nbsp;fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. The Fund may also purchase, without limitation, participations or assignments in senior floating rate loans or second lien floating rate loans. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">For purposes of the Fund's investments, the term debt includes investments in convertible or preferred securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of any credit quality without limitation, including securities rated below investment grade. The Fund anticipates that, under current market conditions, substantially all of its portfolio will consist of securities rated below investment grade, which are commonly referred to as "junk bonds." </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 20% of its assets in fixed income securities with respect to which the Fund has not entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. Such fixed income securities include, but are not limited to, corporate bonds, preferred securities, convertible securities, mezzanine investments, collateralized loan obligations, senior loans, second lien loans, structured products and U.S. government debt securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund's investments in any floating rate and fixed income securities may be of any duration or maturity. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of foreign issuers, including issuers located in emerging markets, without limitation. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest up to 15% of its assets in illiquid securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest in companies whose financial condition is uncertain, where the borrower has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 10% of its assets in common stocks or other equity securities. In addition, the Fund may acquire and hold such securities (or rights to acquire such securities) in unit offerings with fixed income securities, in connection with an amendment, waiver, conversion or exchange of fixed income securities, in connection with the bankruptcy or workout of a distressed fixed income security, or upon the exercise of a right or warrant obtained on account of a fixed income security. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may buy or sell options or futures on a security or an index of securities, buy or sell options on futures or enter into credit default swaps and interest rate or foreign currency transactions, including swaps and forward contracts (collectively, commonly known as derivatives). The Fund may use derivatives for hedging purposes, as well as to increase the total return on its portfolio investments. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse121false0rr_StrategyPortfolioConcentrationrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse122false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_6"> </a>Principal Risks of Investing in the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalse123false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;<font class="_mt">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> The following is a summary description of certain risks of investing in the Fund. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Convertible Securities Risk </i></b>&#8212; The market value of a convertible security performs like that of a regular debt security; that is, if market interest rates rise, the value of a convertible security usually falls. In addition, convertible securities are subject to the risk that the issuer will not be able to pay interest or dividends when due, and their market value may change based on changes in the issuer's credit rating or the market's perception of the issuer's creditworthiness. Since it derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Corporate Loans Risk </i></b>&#8212; Commercial banks and other financial institutions or institutional investors make corporate loans to companies that need capital to grow or restructure. Borrowers generally pay interest on corporate loans at rates that change in response to changes in market interest rates such as the London Interbank Offered Rate ("LIBOR") or the prime rates of U.S. banks. As a result, the value of corporate loan investments is generally less exposed to the adverse effects of shifts in market interest rates than investments that pay a fixed rate of interest. The market for corporate loans may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. The corporate loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Counterparty Risk </i></b>&#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund's securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit Risk </i></b>&#8212; Credit risk refers to the possibility that the issuer of a security will not be able to make payments of interest and principal when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Derivatives Risk </i></b>&#8212; 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 great er risk and increase its costs. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Distressed Securities Risk </i></b>&#8212; Distressed securities are speculative and involve substantial risks in addition to the risks of investing in junk bonds. The Fund will generally not receive interest payments on the distressed securities and may incur costs to protect its investment. In addition, distressed securities involve the substantial risk that principal will not be repaid. These securities may present a substantial risk of default or may be in default at the time of investment. The Fund may incur additional expenses to the extent it is required to seek recovery upon a default in the payment of principal of or interest on its portfolio holdings. In any reorganization or liquidation proceeding relating to a portfolio company, the Fund may lose its entire investment or may be required to accept cash or securities with a value less than its original investment. Distressed securiti es and any securities received in an exchange for such securities may be subject to restrictions on resale. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Dividend Risk </i></b>&#8212; Because most of the corporate loans held by the Fund will have floating or variable interest rates, the amounts of the Fund's monthly distributions to its stockholders are expected to vary with fluctuations in market interest rates. Generally, when market interest rates fall, the amount of the distributions to stockholders will likewise decrease. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Emerging Markets Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Equity Securities Risk </i></b>&#8212; Stock markets are volatile. The price of equity securities fluctuates based on changes in a company's financial condition and overall market and economic conditions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Event Risk </i></b>&#8212; Event risk is the risk that corporate issuers may undergo restructurings, such as mergers, leveraged buyouts, takeovers, or similar events financed by increased debt. As a result of the added debt, the credit quality and market value of a company's bonds and/or other debt securities may decline significantly. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Extension Risk </i></b>&#8212; When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Foreign Securities Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2">Changes in foreign currency exchange rates can affect the value of the Fund's portfolio. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;securities laws. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>High Portfolio Turnover Risk </i></b>&#8212; The Fund may engage in active and frequent trading of its portfolio securities. High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs on the sale of the securities and on reinvestment in other securities. The sale of Fund portfolio securities may result in the realization and/or distribution to shareholders of higher capital gains or losses as compared to a fund with less active trading policies. Given the frequency of sales, such gain or loss will likely be short-term capital gain or loss and, in the event of a gain, would increase an investor's tax liability unless shares are held through a tax-deferred or exempt vehicle. These effects of higher than normal portfolio turnover may adversely affect Fund performance. </font>< ;/p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk </i></b>&#8212; Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall, and decrease as interest rates rise. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Junk Bonds Risk </i></b>&#8212; Although junk bonds generally pay higher rates of interest than investment grade bonds, junk bonds are high risk investments that may cause income and principal losses for the Fund. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Liquidity Risk </i></b>&#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund's investments in illiquid securities may reduce the returns of the Fund because it may be difficult to sell the illiquid securities at an advantageous time or price. To the extent that the Fund's principal investment strategies involve derivatives or securities with substantial market and/or credit risk, the Fund will tend to have the greatest exposure to liquidity risk. Liquid investments may become illiquid after purchase by the Fund, particularly during periods of market turmoil. Illiquid investments may be harder to value, especially in changing markets, and if the Fund is forced to sell these investments to meet redemption requests or for other cash needs, the Fund may suffer a loss. In addition, when there is illiquidity in the market for certain securities, the Fu nd, due to limitations on illiquid investments, may be subject to purchase and sale restrictions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Market Risk and Selection Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Mezzanine Securities Risk </i></b>&#8212; Mezzanine securities carry the risk that the issuer will not be able to meet its obligations and that the equity securities purchased with the mezzanine investments may lose value. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Preferred Securities Risk </i></b>&#8212; Preferred securities may pay fixed or adjustable rates of return. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company's preferred securities generally pay dividends only after the company makes required payments to holders of its bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt to actual or perceived changes in the company's financial condition or prospects. Preferred securities of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Prepayment Risk </i></b>&#8212; When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Second Lien Loans Risk </i></b>&#8212; Second lien loans generally are subject to similar risks as those associated with investments in senior loans. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Senior Loans Risk </i></b>&#8212; There is less readily available, reliable information about most senior loans than is the case for many other types of securities. An economic downturn generally leads to a higher non-payment rate, and a senior loan may lose significant value before a default occurs. Moreover, any specific collateral used to secure a senior loan may decline in value or become illiquid, which would adversely affect the senior loan's value. No active trading market may exist for certain senior loans, which may impair the ability of the Fund to realize full value in the event of the need to sell a senior loan and which may make it difficult to value senior loans. Although senior loans in which the Fund will invest generally will be secured by specific collateral, there can be no assurance that liquidation of such collateral would satisfy the borrower's obligation in the event of non-payment of scheduled interest or principal or that such collateral could be readily liquidated. To the extent that a senior loan is collateralized by stock in the borrower or its subsidiaries, such stock may lose all of its value in the event of the bankruptcy of the borrower. Uncollateralized senior loans involve a greater risk of loss. The senior loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Structured Products Risk </i></b>&#8212; Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Fund may have the right to receive payments only from the structured product, and generally does not have direct rights against the issuer or the entity that sold the assets to be securitized. Certain structured products may be thinly traded or have a limited trading market. In addition to the general risks associated with debt securities discussed herein, structured products carry additional risks, including, but not limited to: the possibility that distributions from collateral securities will not be adequate to make interest or other payments; the quality of the collateral may decline in value or default; and the possibility that the structured products are subordinate to other classes. Structured notes are based upon the movement of one or more factors, including currency exchange rates, interest rates, referenced bonds and stock indices, and changes in interest rates and impact of these factors may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on the structured note to be reduced to zero. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>U.S. Government Issuer Risk </i></b>&#8212; Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. </font></p></td></tr></table></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalse124false0rr_RiskLoseMoneyrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">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>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringSummarize the principal risks of investing in the Fund, including the risks to which the Fund's portfolio as a whole is subject and the circumstances reasonably likely to affect adversely the Fund's net asset value, yield, and total return. Unless the Fund is a Money Market Fun d, disclose that loss of money is a risk of investing in the Fund. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Subsection b falsefalse125false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_7"> </a>Performance Information</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse126false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalse false00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">Because the Fund commenced operations on July&nbsp;9, 2010, there is no historical performance information shown. <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font></font></font>Current performance information is available through&nbsp;<font class="_mt"><a style="text-decoration: none;" href="funds"><font color="black" class="_mt">www.blackrock.com/funds</font></a></font> or may be obtained by calling <font class="_mt">(800)&nbsp;441-7762</font>. </font></p></div> </div>falsefal sefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse127false0rr_PerformanceOneYearOrLessrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringFor a Fund that provides annual total returns for only one calendar year or for a Fund that does not include the bar chart because it does not have annual returns for a full calendar year, modify, as appropriate, the narrative explanation required by stating that the information gives some in dication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance). Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b Reference 2: 2 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph instructions -Clause 1 -Exhibit b -Subsection b falsefalse128false0rr_PerformanceAvailabilityPhonerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt">(800)&nbsp;441-7762</font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf applicable, include a statement explaining that updated performance information is available and providing a Web site address and/or toll-free (or collect) telephone number where the updated information may be obtained.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalse129false0rr_PerformanceAvailabilityWebSiteAddressrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<font class="_mt"><a style="text-decoration: none;" href="funds"><font color="black" class="_mt">www.blackrock.com/funds</font></a></font>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf applicable, include a statement explaining that updated performance information is available and providing a Website address and/or toll-free (or collect) telephone number where the updated information may be obtained.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalse1 A contingent deferred sales charge ("CDSC") of 0.75% 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 $500,000 or more. 2 As described in the "Management of the Fund" section of the Fund's prospectus on page 34, 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 1.05% (for Investor A shares), 1.80% (for Investor C shares) and 0.70% (for Institutional shares) of average daily net assets until February 1, 2012. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. 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. 3 There is no CDSC on Investor C Shares after one year. 4 There is no CDSC on Investor C1 Shares after one year. 5 Shares received in connection with the reorganization with the BlackRock Senior Floating Rate Fund II, Inc. will not be subject to CDSCs or redemption fees upon the sale of shares of the Fund received in the reorganization. 6 Other Expenses are based on estimated amounts for the current fiscal year.7 As described in the "Management of the Fund" section of the Fund's prospectus on page 27, 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 1.80% (for Investor C1 shares) of average daily net assets until February 1, 2012. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. 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XML 12 R2.xml IDEA: Risk/Return Summary - (BlackRock Floating Rate Income Portfolio) (INV INST) 2.2.0.25truefalse016001 - Document - Risk/Return Summary {Unlabeled} - (BlackRock Floating Rate Income Portfolio) (INV INST)falsefalsetrue1falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Inv Inst Member {dei_LegalEntityAxis} : S000029307 Member 1/28/2011 - 1/28/2011 USD ($) $Duration_1_28_2011_To_1_28_20117http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalsecik001398078_InvInstMemberdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalsecik001398078_S000029307Memberdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$1false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://www.blackrock.com/role/documentriskreturnsummaryunlabeledblackrockfloatingrateincomeportfolioinvinst1falsefalsefalse00INV INST | BlackRock Floating Rate Income PortfolioINV INST | BlackRock Floating Rate Income Portfoliofalsefalsefalsefalsefalse1falsefalseUSDtruefalse{dei_DocumentInformationDocumentAxis} : Inv Inst Member {dei_LegalEntityAxis} : S000029307 Member 1/28/2011 - 1/28/2011 USD ($) $Duration_1_28_2011_To_1_28_20117http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalsecik001398078_InvInstMemberdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalsecik001398078_S000029307Memberdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$OthernaNo definition available.No authoritative reference available.falsefalse3false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="7">Fund Overview </font></p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_2"> </a>Key Facts about BlackRock Floating Rate Income Portfolio </i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedRefer ence 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalse4false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_3"> </a>Investment Objective </i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse5false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The primary investment objective of the BlackRock Floating Rate Income Portfolio (the "Floating Rate Income Portfolio" or the "Fund") is to seek to provide high current income</font></font>,</font></font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment O bjectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse6false0rr_ObjectiveSecondaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <font class="_mt">with a secondary objective of long-term capital appreciation.</font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. 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You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fun d 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. 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 year, the Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalse8false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.&nbsp;<font class="_mt">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least <font class="_mt">$50,000 </font>in the BlackRock-advised fund complex.</font> 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-67 of the Fund's statement of additional information.</font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. 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A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines bel ow.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection table falsefalse0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricetruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.0250.025falsefalsefalsetruefalse2truetruetrue00falsefalsefalsetruefalse3truetruetrue00falsefalsefalsetruefalseOthernanafalsefalse2falseRowprimaryElement*6false0 rr_MaximumDeferredSalesChargeOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00[1] falsefalsefalsetruefalse2truetruetrue0.010.01[2]falsefalsefalsetruefalse3truetruetrue00falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amo unt of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalse0rr_MaximumDeferredSalesChargeOverOfferingPricetruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00[1]falsefalsefalsetruefalse2truetruetrue0.010.01[2]falsefalsefalsetruefalse3truetruetrue00falsefalsefalsetruefalseOthernanafalsefalse3falseRowprimaryElement*7false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truetruetrue0.020.02falsefalsefalsetruefalse2truetruetrue0.020.02falsefalsefalsetruefalse3truetruetrue0.020.02falsefalsefalsetruefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any redemption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalse0rr_RedemptionFeeOverRedemptiontruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.020.02falsefalsefalsetruefalse2truetruetrue0.020.02falsefalsefalsetruefalse3truetruetrue0.020.02falsefalsefalsetruefalseOthernanafalsefalse1 A contingent deferred sales charge ("CDSC") of 0.75% 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 $500,000 or more. 2 There is no CDSC on Investor C Shares after one year. 33Shareholder Fees - (BlackRock Floating Rate Income Portfolio) (INV INST) INV INST BlackRock Floating Rate Income PortfolioUnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*RowprimaryElement*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ShareholderFeesData.No authoritative reference available.falsefalse11false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Annual Fund Operating Expenses</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalse12false0rr_AnnualFundOperatingExpensesTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioInvInst column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div>falsefalse<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioInvInst column period compact * column dei_DocumentInforma tionDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div>falsehttp://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioInvInstfalsefalse016003 - Schedule - Annual Fund Operating Expenses - (BlackRock Floating Rate Income Portfolio) (INV INST)truefalsefalse1falseColumnperiodPeriod* Columndei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor A Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090125Memberrr_ProspectusShareClassAxisexplicitMemberINV INSTBlackRock Floating Rate Income PortfolioInvestor A SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$2falseColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxi s*ColumnunitUnit*duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090126Memberrr_ProspectusShareClassAxisexplicitMemberINV INSTBlackRock Floating Rate Income PortfolioInvestor C SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$3falseColumnperiodPeriod*Columndei_DocumentI nformationDocumentAxisAxiscik001398078_InvInstMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseINV INSTdei_DocumentInformatio nDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInstitutional Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090127Memberrr_ProspectusShareClassAxisexplicitMemberINV INSTBlackRock Floating Rate Income PortfolioInstitutional SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$1falseRowprimaryElement*5false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00550.0055falsefalsefalsetruefalse2truetruetrue0.00550.0055falsefalsefalsetruefalse3truetruetrue0.00550.0055falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other ma nagement fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalse0rr_ManagementFeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00550.0055falsefalsefalsetruefalse2truetruetrue0.00550.0055falsefalsefalsetruefalse3truetruetrue0.00550.0055falsefalsefalsetruefalseOthernanafalsefalse2falseRowprimaryElement*6false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00250.0025falsefalsefalsetruefalse2truetruetrue0.010.01falsefalsefalsetruefalse3truetruetrue00falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalse0rr_DistributionAndService12b1FeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00250.0025falsefalsefalsetruefalse2truetruetrue0.010.01falsefalsefalsetruefalse3truetruetrue00falsefalsefalsetruefalseOthernanafalsefalse3falseRowprimaryElement*7false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.01090.0109falsefalsefalsetruefalse2truetruetrue0.00880.0088falsefalsefalsetruefalse3truetruetrue0.0090.009falsefalsefalsetruefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" woul d have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalse0rr_OtherExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.01090.0109falsefalsefalsetruefalse2truetruetrue0.00880.0088falsefalsefalsetruefalse3truetruetrue0.0090.009 falsefalsefalsetruefalseOthernanafalsefalse4falseRowprimaryElement*8false0rr_AcquiredFundFeesAndExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsetruefalse2truetruetrue0.00070.0007falsefalsefalsetruefalse3truetruetrue0.00070.0007falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse0rr_AcquiredFundFeesAndExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsetruefalse2truetruetrue0.00070.0007falsefalsefalsetruefalse3truetruetrue0.00070.0007falsefalsefalsetruefalseOthernanafalsefalse5falseRowprimaryElement*9false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truetruetrue0.01960.0196falsefalsefalsetruefalse2truetruetrue0.0250.025falsefalsefalsetruefalse3truetruetrue0.01520.0152falsefalse< /ShowCurrencySymbol>falsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions truefalse0rr_ExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.01960.0196falsefalsefalsetruefalse2truetruetrue0.0250.025falsefalsefalsetruefalse3truetruetrue0.01520.0152falsefalsefalsetruefalseOthernanafalsefalse6falseRowprimaryElement*10false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue-0.0084-0.0084[1]falsefalsefalsetruefalse2truetruetrue-0.0063-0.0063[1]falsefalsefalsetruefalse3truetruetrue-0.0075-0.0075[1]falsefalsefalsetruefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption showing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and shou ld use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse0rr_FeeWaiverOrReimbursementOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[1]1truetruetrue-0.0084-0.0084falsefalsefalsetruefalse2truetruetrue-0.0063-0.0063falsefalsefalsetruefalse3truetruetrue-0.0075-0.0075falsefalsefalsetruefalseOthernanafalsefalse7falseRowprimaryElement*11false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truetruetrue0.01120.0112[1]falsefalsefalsetruefalse2truetruetrue0.01870.0187[1]falsefalsefalsetruefalse3truetruetrue0.00770.0077[1]falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table truefalse0rr_NetExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[1]1truetruetrue0.01120.0112falsefalsefalsetruefalse2truetruetrue0.01870.0187falsefalsefalsetruefalse3truetruetrue0.00 770.0077falsefalsefalsetruefalseOthernanafalsefalse1 As described in the "Management of the Fund" section of the Fund's prospectus on page 34, 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 1.05% (for Investor A shares), 1.80% (for Investor C shares) and 0.70% (for Institutional shares) of average daily net assets until February 1, 2012. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. 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. 37Annual Fund Operating Expenses - (BlackRock Floating Rate Income Portfolio) ( INV INST) INV INST BlackRock Floating Rate Income PortfolioUnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*RowprimaryElement*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to OperatingExpensesData.No authoritative reference available.falsefalse13false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse 00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Example: </b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse14false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalse15false0rr_ExpenseExampleWithRedemptionTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioInvInst row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>falsefalse<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioInvInst row period compact * row primary compact * column dei _DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>truehttp://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioInvInstfalsefalse016004 - Schedule - Expense Example {Transposed} - (BlackRock Floating Rate Income Portfolio) (INV INST)truefalsefalse1falseColumnperiodPeriod*ColumnprimaryElement*5false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel< Cell>1truefalsetrue361361falsefalsefalsetruefalse2truefalsetrue290290falsefalsefalsetruefalse3truefalsetrue7979falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseduration2011-01-28T00:00:002011-01-28T00:00:00falseUSDfalsefalse$2falseColumnperiodPeriod*ColumnprimaryElement*6fals e0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue771771falsefalsefalsetruefalse2truefalsetrue719719falsefalsefalsetruefalse3truefalsetrue407407falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseduration2011-01-28T00:00:002011-01-28T00:00:00falseUSDfalsefalse$1falseRowdei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberRowdei_LegalEntityAxisAxiscik001398078_S00002930 7MemberRowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEn tityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor A Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090125Memberrr_ProspectusShareClassAxisexplicitMemberINV INSTBlackRock Floating Rate Income PortfolioInvestor A SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDis o421700truefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse 1truefalsetrue361361falsefalsefalsetruefalse2truefalsetrue771771falsefalsefalsetruefals eOthernanafalsefalse2falseRowdei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberRowdei_LegalEntityAxisAxiscik001398078_S000029307MemberRowrr_ProspectusShareClassAxisAxis*RowunitUn it*falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090126Memberrr_ProspectusShareClassAxisexplicitMemberINV INSTBlackRock Floating Rate Income PortfolioInvestor C SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso421700truefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue290290falsefalsefalsetruefalse2truefalsetrue719719falsefalsefalsetruefalseOthernanafalsefalse3falseRowdei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberRowdei_LegalEntityAxisAxiscik001398078_S000029307MemberRowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInstitutional Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090127Memberrr_ProspectusS hareClassAxisexplicitMemberINV INSTBlackRock Floating Rate Income PortfolioInstitutional SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso421700truefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue7979falsefalsefalsetruefalse2truefalse< /IsRatio>true407407falsefalsefalsetruefalseOthernanafalsefalse23Expense Example - (BlackRock Floating Rate Income Portfolio) (INV INST) INV INST BlackRock Floating Rate Income Portfolio (USD $)UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*ColumnprimaryElement*Rowdei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberRowdei_LegalEntityAxisAxiscik001398078_S000029307MemberRowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ExpenseExample.No authoritative reference available.falsefalseExpense Example, With Redemption [Table]16false0rr_ExpenseExampleNoRedemptionByYearCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">You would pay the following expenses if you did not redeem your shares: </font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse17false0rr_ExpenseExampleNoRedemptionTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioInvInst row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>falsefalse<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioInvInst row period com pact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_InvInstMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>truehttp://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioInvInstfalsefalse016005 - Schedule - Expense Example, No Redemption {Transposed} - (BlackRock Floating Rate Income Portfolio) (INV INST)truefalsefalse1falseColumnperiodPeriod*ColumnprimaryElement*5false0rr_ExpenseExampleNoRedemptionYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse terselabel1truefalsetrue190190falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalseduration2011-01-28T00:00:002011-01-28T00:00:00falseUSDfalsefalse$2falseColumnperiodPeriod*ColumnprimaryElement*6fals e0rr_ExpenseExampleNoRedemptionYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue719719falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalseduration2011-01-28T00:00:002011-01-28T00:00:00falseUSDfalsefalse$1falseRowdei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberRowdei_LegalEntityAxisAxiscik001398078_S00002930 7MemberRowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalseINV INSTdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_InvInstMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEn tityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000090126Memberrr_ProspectusShareClassAxisexplicitMemberINV INSTBlackRock Floating Rate Income PortfolioInvestor C SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDis o421700truefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse 1truefalsetrue190190falsefalsefalsetruefalse2truefalsetrue719719falsefalsefalsetruefals eOthernanafalsefalse21Expense Example, No Redemption - (BlackRock Floating Rate Income Portfolio) (INV INST) (USD $)UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*ColumnprimaryElement*Rowdei_DocumentInformationDocumentAxisAxiscik001398078_InvInstMemberRowdei_LegalEntityAxisAxiscik001398078_S000029307MemberRowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ExpenseExampleNoRedemption.No authoritative reference available.falsefals e18false0rr_PortfolioTurnoverHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Portfolio Turnover: </b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information requir ed by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalse19false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">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 year end, the Fund's portfolio turnover rate was&nbsp;<font class="_mt">64%</font> of the average value of its portfolio. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalse20false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse 00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_5"> </a>Principal Investment Strategies of the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse21false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>These investments may include but are not limited to, any combination of the following securities: (i)&nbsp;senior secured floating rate loans or debt; (ii)&nbsp;second lien or other subordinated or unsecured floating rate&nbsp;loans or debt; and (iii)&nbsp;fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. The Fund may also purchase, without limitation, participations or assignments in senior floating rate loans o r second lien floating rate loans. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">For purposes of the Fund's investments, the term debt includes investments in convertible or preferred securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of any credit quality without limitation, including securities rated below investment grade. The Fund anticipates that, under current market conditions, substantially all of its portfolio will consist of securities rated below investment grade, which are commonly referred to as "junk bonds." </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 20% of its assets in fixed income securities with respect to which the Fund has not entered into derivative instruments to effectively convert the fixed-rate interest payments into floating-rate interest payments. Such fixed income securities include, but are not limited to, corporate bonds, preferred securities, convertible securities, mezzanine investments, collateralized loan obligations, senior loans, second lien loans, structured products and U.S. government debt securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund's investments in any floating rate and fixed income securities may be of any duration or maturity. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of foreign issuers, including issuers located in emerging markets, without limitation. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest up to 15% of its assets in illiquid securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest in companies whose financial condition is uncertain, where the borrower has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 10% of its assets in common stocks or other equity securities. In addition, the Fund may acquire and hold such securities (or rights to acquire such securities) in unit offerings with fixed income securities, in connection with an amendment, waiver, conversion or exchange of fixed income securities, in connection with the bankruptcy or workout of a distressed fixed income security, or upon the exercise of a right or warrant obtained on account of a fixed income security. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may buy or sell options or futures on a security or an index of securities, buy or sell options on futures or enter into credit default swaps and interest rate or foreign currency transactions, including swaps and forward contracts (collectively, commonly known as derivatives). The Fund may use derivatives for hedging purposes, as well as to increase the total return on its portfolio investments. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse22false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_6"> </a>Principal Risks of Investing in the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalse23false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;<font class="_mt">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> The following is a summary description of certain risks of investing in the Fund. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Convertible Securities Risk</i></b> &#8212; The market value of a convertible security performs like that of a regular debt security; that is, if market interest rates rise, the value of a convertible security usually falls. In addition, convertible securities are subject to the risk that the issuer will not be able to pay interest or dividends when due, and their market value may change based on changes in the issuer's credit rating or the market's perception of the issuer's creditworthiness. Since it derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Corporate Loans Risk </i></b>&#8212; Commercial banks and other financial institutions or institutional investors make corporate loans to companies that need capital to grow or restructure. Borrowers generally pay interest on corporate loans at rates that change in response to changes in market interest rates such as the London Interbank Offered Rate ("LIBOR") or the prime rates of U.S. banks. As a result, the value of corporate loan investments is generally less exposed to the adverse effects of shifts in market interest rates than investments that pay a fixed rate of interest. The market for corporate loans may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. The corporate loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Counterparty Risk </i></b>&#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund's securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit Risk </i></b>&#8212; Credit risk refers to the possibility that the issuer of a security will not be able to make payments of interest and principal when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Derivatives Risk </i></b>&#8212; 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 great er risk and increase its costs. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Distressed Securities Risk </i></b>&#8212; Distressed securities are speculative and involve substantial risks in addition to the risks of investing in junk bonds. The Fund will generally not receive interest payments on the distressed securities and may incur costs to protect its investment. In addition, distressed securities involve the substantial risk that principal will not be repaid. These securities may present a substantial risk of default or may be in default at the time of investment. The Fund may incur additional expenses to the extent it is required to seek recovery upon a default in the payment of principal of or interest on its portfolio holdings. In any reorganization or liquidation proceeding relating to a portfolio company, the Fund may lose its entire investment or may be required to accept cash or securities with a value less than its original investment. Distressed securiti es and any securities received in an exchange for such securities may be subject to restrictions on resale. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Dividend Risk </i></b>&#8212; Because most of the corporate loans held by the Fund will have floating or variable interest rates, the amounts of the Fund's monthly distributions to its stockholders are expected to vary with fluctuations in market interest rates. Generally, when market interest rates fall, the amount of the distributions to stockholders will likewise decrease. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Emerging Markets Risk</i></b> &#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Equity Securities Risk </i></b>&#8212; Stock markets are volatile. The price of equity securities fluctuates based on changes in a company's financial condition and overall market and economic conditions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Event Risk</i></b> &#8212; Event risk is the risk that corporate issuers may undergo restructurings, such as mergers, leveraged buyouts, takeovers, or similar events financed by increased debt. As a result of the added debt, the credit quality and market value of a company's bonds and/or other debt securities may decline significantly. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Extension Risk</i></b> &#8212; When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Foreign Securities Risk</i></b> &#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2">Changes in foreign currency exchange rates can affect the value of the Fund's portfolio. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>High Portfolio Turnover Risk</i></b> &#8212; The Fund may engage in active and frequent trading of its portfolio securities. High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs on the sale of the securities and on reinvestment in other securities. The sale of Fund portfolio securities may result in the realization and/or distribution to shareholders of higher capital gains or losses as compared to a fund with less active trading policies. Given the frequency of sales, such gain or loss will likely be short-term capital gain or loss and, in the event of a gain, would increase an investor's tax liability unless shares are held through a tax-deferred or exempt vehicle. These effects of higher than normal portfolio turnover may adversely affect Fund performance. </font>< ;/p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk</i></b> &#8212; Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall, and decrease as interest rates rise. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Junk Bonds Risk</i></b> &#8212; Although junk bonds generally pay higher rates of interest than investment grade bonds, junk bonds are high risk investments that may cause income and principal losses for the Fund. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Liquidity Risk</i></b> &#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund's investments in illiquid securities may reduce the returns of the Fund because it may be difficult to sell the illiquid securities at an advantageous time or price. To the extent that the Fund's principal investment strategies involve derivatives or securities with substantial market and/or credit risk, the Fund will tend to have the greatest exposure to liquidity risk. Liquid investments may become illiquid after purchase by the Fund, particularly during periods of market turmoil. Illiquid investments may be harder to value, especially in changing markets, and if the Fund is forced to sell these investments to meet redemption requests or for other cash needs, the Fund may suffer a loss. In addition, when there is illiquidity in the market for certain securities, the Fu nd, due to limitations on illiquid investments, may be subject to purchase and sale restrictions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Market Risk and Selection Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Mezzanine Securities Risk </i></b>&#8212; Mezzanine securities carry the risk that the issuer will not be able to meet its obligations and that the equity securities purchased with the mezzanine investments may lose value. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Preferred Securities Risk </i></b>&#8212; Preferred securities may pay fixed or adjustable rates of return. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company's preferred securities generally pay dividends only after the company makes required payments to holders of its bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt to actual or perceived changes in the company's financial condition or prospects. Preferred securities of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Prepayment Risk </i></b>&#8212; When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Second Lien Loans Risk </i></b>&#8212; Second lien loans generally are subject to similar risks as those associated with investments in senior loans. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Senior Loans Risk</i></b> &#8212; There is less readily available, reliable information about most senior loans than is the case for many other types of securities. An economic downturn generally leads to a higher non-payment rate, and a senior loan may lose significant value before a default occurs. Moreover, any specific collateral used to secure a senior loan may decline in value or become illiquid, which would adversely affect the senior loan's value. No active trading market may exist for certain senior loans, which may impair the ability of the Fund to realize full value in the event of the need to sell a senior loan and which may make it difficult to value senior loans. Although senior loans in which the Fund will invest generally will be secured by specific collateral, there can be no assurance that liquidation of such collateral would satisfy the borrower's obligation in the event of non-payment of scheduled interest or principal or that such collateral could be readily liquidated. To the extent that a senior loan is collateralized by stock in the borrower or its subsidiaries, such stock may lose all of its value in the event of the bankruptcy of the borrower. Uncollateralized senior loans involve a greater risk of loss. The senior loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Structured Products Risk</i></b> &#8212; Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Fund may have the right to receive payments only from the structured product, and generally does not have direct rights against the issuer or the entity that sold the assets to be securitized. Certain structured products may be thinly traded or have a limited trading market. In addition to the general risks associated with debt securities discussed herein, structured products carry additional risks, including, but not limited to: the possibility that distributions from collateral securities will not be adequate to make interest or other payments; the quality of the collateral may decline in value or default; and the possibility that the structured products are subordinate to other classes. Structured notes are based upon the movement of one or more factors, including currency exchange rates, interest rates, referenced bonds and stock indices, and changes in interest rates and impact of these factors may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on the structured note to be reduced to zero. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>U.S. Government Issuer Risk</i></b> &#8212; Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. </font></p></td></tr></table></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalse24false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109493_7"> </a>Performance Information</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse25false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsef alse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">Because the Fund commenced operations on July 9, 2010, there is no historical performance information shown. <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font></font></font>Current performance information is available through <font class="_mt">www.blackrock.com/funds </font>or may be obtained by calling <font class="_mt">(800)&nbsp;441-7762</font>. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse124Risk/Return Summary - (BlackRock Floating Rate Income Portfolio) (INV INST) (INV INST, BlackRock Floating Rate Income Portfolio)UnKnownUnKnownUnKnownUnKnownfalsetrue XML 13 FilingSummary.xml IDEA: XBRL DOCUMENT 2.2.0.25 false Sheet 016001 - Document - Risk/Return Summary {Unlabeled} - (BlackRock Floating Rate Income Portfolio) (INV INST) Risk/Return Summary - (BlackRock Floating Rate Income Portfolio) (INV INST) http://www.blackrock.com/role/DocumentRiskReturnSummaryUnlabeledBlackrockFloatingRateIncomePortfolioInvInst true R2.xml false Sheet 016008 - Document - Risk/Return Summary {Unlabeled} - (BlackRock Floating Rate Income Portfolio) (C1 shares) Risk/Return Summary - (BlackRock Floating Rate Income Portfolio) (C1 shares) http://www.blackrock.com/role/DocumentRiskReturnSummaryUnlabeledBlackrockFloatingRateIncomePortfolioPrime true R7.xml false Sheet 040000 - Disclosure - Risk/Return Detail Data {Elements} Risk/Return Detail Data http://xbrl.sec.gov/rr/role/RiskReturnDetailData false R12.xml true Book All Reports All Reports false 1 7 7 0 2 55 true false Duration_1_28_2011_To_1_28_2011 8 Duration_1_28_2011_To_1_28_20114 14 Duration_1_28_2011_To_1_28_20115 12 Duration_1_28_2011_To_1_28_20112 14 Duration_1_28_2011_To_1_28_20116 31 Duration_1_28_2011_To_1_28_20117 32 Duration_1_28_2011_To_1_28_20113 12 true true EXCEL 14 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\V,S$Y869A,E]F9#,X7S0P,F1?.#AA-U]B-3DQ M,&0W-C`W.&$B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T#I7;W)K#I%>&-E;%=O#I!8W1I=F53:&5E=#XP/"]X.D%C=&EV95-H M965T/@T*("`\>#I0#I%>&-E;%=O7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\ M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^24Y6($E.4U0@?"!";&%C:U)O8VL@1FQO871I;F<@ M4F%T92!);F-O;64@4&]R=&9O;&EO/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/&1I=B!C;&%S#LG/CQF M;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!!4DE!3#LG(&-L87-S/3-$7VUT M('-I>F4],T0W/D9U;F0@3W9E6QE/3-$)VUA#L@;6%R M9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@8VQA6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@'0^/&1I=B!C;&%S#LG/CQF;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!!4DE!3#LG(&-L87-S M/3-$7VUT('-I>F4],T0S/CQB/B`\+V(^/&(^/&D^/&$@;F%M93TS1'1O8S$P M.30Y,U\S/B`\+V$^26YV97-T;65N="!/8FIE8W1I=F4@/"]I/CPO8CX\+V9O M;G0^/"]P/CPO9&EV/CQS<&%N/CPO6QE/3-$)V9O M;G0M9F%M:6QY.B!!4DE!3#LG(&-L87-S/3-$7VUT('-I>F4],T0R/CQF;VYT M(&-L87-S/3-$7VUT/CQF;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!!4DE! 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Portfoliofalsefalsefalsefalsefalse1falsefalsetruefalse{dei_DocumentInformationDocumentAxis} : C1 Shares Member {dei_LegalEntityAxis} : S000029307 Member 1/28/2011 - 1/28/2011 Duration_1_28_2011_To_1_28_20116http://www.sec.gov/CIK0001398078duration2011-01-28T00:00:002011-01-28T00:00:00falsefalsecik001398078_C1SharesMemberdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C1SharesMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalsecik001398078_S000029307Memberdei_LegalE ntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberUnit1Standardhttp://www.xbrl.org/2003/instancepurexbrli0OthernaNo definition available.No authoritative reference available.falsefalse3false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalse< IsEndingBalance>falsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="7">Fund Overview </font></p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_2"> </a>Key Facts about BlackRock Floating Rate Income Portfolio</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedRefere nce 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalse4false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_3"> </a>Investment Objective</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse5false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The primary investment objective of the BlackRock Floating Rate Income Portfolio (the "Floating Rate Income Portfolio" or the "Fund") is to seek to provide high current income</font></font>, </font></font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse6false0rr_ObjectiveSecondaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <font class="_mt">with a secondary objective of long-term capital appreciation</font> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalse7false0rr_ExpenseHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse 00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_4"> </a>Fees and Expenses of the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) 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 you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. 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. 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 year, the Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalse8false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">This table describes the fees and expenses that you may pay if you buy and hold Investor C1 Shares of the Fund.</font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared 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 $[_____] in [name of fund family] fu nds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalse9false0rr_ShareholderFeesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Shareholder Fees</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(fees paid directly from your investment)</b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShareholder Fees (fees paid directly from your investment).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subsection table falsefalse10false0rr_ShareholderFeesTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleShareholderFeesBlackrockFloatingRateIncomePortfolioPrime column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div>falsefalse<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleShareholderFeesBlackrockFloatingRateIncomePortfolioPrime column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1S haresMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div>falsehttp://www.blackrock.com/role/ScheduleShareholderFeesBlackrockFloatingRateIncomePortfolioPrimefalsefalse016009 - Schedule - Shareholder Fees - (BlackRock Floating Rate Income Portfolio) (C1 shares)truefalsefalse1falseColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxiscik001398078_C1SharesMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseC1 Sharesdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C1SharesMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C1 Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik0 01398078_C000093814Memberrr_ProspectusShareClassAxisexplicitMemberC1 SharesBlackRock Floating Rate Income PortfolioInvestor C1 SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$1falseRowprimaryElement*5false0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should r ead "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection table falsefalse0rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPricetruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue00falsefalsefalsetruefalseOthernanafalsefalse2falseRowprimaryElement*6false0rr_MaximumDeferredSalesChargeOverOfferingPricerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.010.01[2]falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureMaximum Deferred Sales Charge (Load) (as a percentage of ____) A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amou nt of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter). A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph a -Clause i -Subsection instructions falsefalse0rr_MaximumDeferredSalesChargeOverOfferingPricetruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[1]1truetruetrue0.010.01falsefalsefalsetruefalseOthernanafalsefalse3falseRowprimaryElement*7false0rr_RedemptionFeeOverRedemptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truetruetrue0.020.02 [1]falsefalsefalsetruefalseOtherrr:NonPositivePure4Typepure"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units. "Redemption Fee" includes a fee charged for any redemption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph b -Subsection instructions falsefalse0rr_RedemptionFeeOverRedemptiontruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[2]1truetruetrue0.020.02falsefalsefalsetruefalseOthernanafalsefalse1 There is no CDSC on Investor C1 Shares after one year. 2 Shares received in connection with the reorganization with the BlackRock Senior Floating Rate Fund II, Inc. will not be subject to CDSCs or redemption fees upon the sale of shares of the Fund received in the reorganization. 13Shareholder Fees - (BlackRock Floating Rate Income Portfolio) (C1 shares) UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxiscik001398078_C1SharesMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*RowprimaryElement*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ShareholderFeesData.No authoritative reference available.falsefalse11false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Annual Fund Operating Expenses</b></font></p> <p style="margin-top: 0px; margin-bottom: 1px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalse12false0rr_AnnualFundOperatingExpensesTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioPrime column period compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div>falsefalse<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioPrime column period compact * column dei_DocumentInformatio nDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * row primary compact * ~&lt;/div&gt; </div>falsehttp://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBlackrockFloatingRateIncomePortfolioPrimefalsefalse016010 - Schedule - Annual Fund Operating Expenses - (BlackRock Floating Rate Income Portfolio) (C1 shares)truefalsefalse1falseColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxiscik001398078_C1SharesMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*duration2011-01-28T00:00:002011-01-28T00:00:00falsefalseC1 Sharesdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C1SharesMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C1 Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000093814Memberrr_ProspectusShareClassAxisexplicitMemberC1 SharesBlackRock Floating Rate Income PortfolioInvestor C1 SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$1falseRowprimaryElement*5false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00550.0055falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalse0rr_ManagementFeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00550.0055falsefalsefalsetruefalseOthernanafalsefalse2falseRowprimaryElement*6false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00750.0075falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalse0rr_DistributionAndService12b1FeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00750.0075falsefalsefalsetruefalseOthernanafalsefalse3falseRowprimaryElement*7false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00520.0052[2]falsefa lsefalsetruefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalse0rr_OtherExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[1]1truetruetrue0.00520.0052falsefalsefalsetruefalseOthernanafalsefalse4falseRowprimaryElement*8false0rr_AcquiredFundFeesAndExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse0rr_AcquiredFundFeesAndExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00070.0007falsefalsefalsetruefalseOthernanafalsefalse5falseRowprimaryElement*9false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truetruetrue0.01890.0189falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursemen t or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions truefalse0rr_ExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.01890.0189falsefalsefalsetruefalseOthernanafalsefalse6falseRowprimaryElement*10false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue-0.0002-0.0002[1]falsefalsefalsetruefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption showing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalse0rr_FeeWaiverOrReimbursementOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[2]1truetruetrue-0.0002-0.0002falsefalsefalsetruefalseOthernanafalsefalse7falseRowprimaryElement*11false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsetotallabel1truetruetrue0.01870.0187[1]false< /IsIndependantCurrency>falsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table truefalse0rr_NetExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[2]1truetruetrue0.01870.0187falsefalsefalsetruefalseOthernanafalsefalse1 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 page 27, 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 1.80% (for Investor C1 shares) of average daily net assets until February 1, 2012. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. 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. 17Annual Fund Operating Expenses - (BlackRock Floating Rate Income Portfolio) (C1 shares) UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*Columndei_DocumentInformationDocumentAxisAxiscik001398078_C1SharesMemberColumndei_LegalEntityAxisAxiscik001398078_S000029307MemberColumnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*RowprimaryElement*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to OperatingExpensesData.No authoritative reference available.falsefalse< /IsEPS>13false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse0 0<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><b>Example: </b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalse14false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalse15false0rr_ExpenseExampleWithRedemptionTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioPrime row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>falsefalse<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioPrime row period compact * row primary compact * column dei_Do cumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>truehttp://www.blackrock.com/role/ScheduleExpenseExampleTransposedBlackrockFloatingRateIncomePortfolioPrimefalsefalse016011 - Schedule - Expense Example {Transposed} - (BlackRock Floating Rate Income Portfolio) (C1 shares)truefalsefalse1falseColumnperiodPeriod*ColumnprimaryElement*5false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue290290falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower. Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseduration2011-01-28T00:00:002011-01-28T00:00:00falseUSDfalsefalse$2falseColumnperiodPeriod*ColumnprimaryElement*6fals e0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue592592falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseduration2011-01-28T00:00:002011-01-28T00:00:00falseUSDfalsefalse$1falseRowdei_DocumentInformationDocumentAxisAxiscik001398078_C1SharesMemberRowdei_LegalEntityAxisAxiscik001398078_S0000293 07MemberRowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalseC1 Sharesdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C1SharesMemberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseBlackRock Floating Rate Income Portfoliodei_Lega lEntityAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_S000029307Memberdei_LegalEntityAxisexplicitMemberfalsefalseInvestor C1 Sharesrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldicik001398078_C000093814Memberrr_ProspectusShareClassAxisexplicitMemberC1 SharesBlackRock Floating Rate Income PortfolioInvestor C1 SharesUnit12Standardhttp://www.xbrl.org/2003/iso4217USDiso421700truefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue290290falsefalsefalsetruefalse2truefalsetrue592592falsefalsefalsetruefalseOthernanafalsefalse21Expense Example - (BlackRock Floating Rate Income Portfolio) (C1 shares) (USD $)UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*ColumnprimaryElement*Rowdei_DocumentInformationDocumentAxisAxiscik001398078_C1SharesMemberRowdei_LegalEntityAxisAxiscik001398078_S000029307MemberRowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ExpenseExample.No authoritative reference available.falsefalseExpense Example, With Redemption [Table]16false0rr_ExpenseExampleNoRedemptionByYearCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">You would pay the following expenses if you did not redeem your shares: </font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalse17false0rr_ExpenseExampleNoRedemptionTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioPrime row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>falsefalse<div> &lt;div style="display:none;" &gt;~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioPrime row period compac t * row primary compact * column dei_DocumentInformationDocumentAxis compact cik001398078_C1SharesMember column dei_LegalEntityAxis compact cik001398078_S000029307Member column rr_ProspectusShareClassAxis compact * ~&lt;/div&gt; </div>truehttp://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBlackrockFloatingRateIncomePortfolioPrimefalsefalse016012 - Schedule - Expense Example, No Redemption {Transposed} - (BlackRock Floating Rate Income Portfolio) (C1 shares)truefalsefalse1falseColumnperiodPeriod*ColumnprimaryElement*5false0rr_ExpenseExampleNoRedemptionYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue190190falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. Include the second 1-, 3-, 5-, and 10-year periods and related narrative explanation only if a sales charge (load) or other fee is charged upon redemption.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 2 -Subparagraph 1 -Subsection example falsefalseduration2011-01-28T00:00:002011-01-28T00:00:00falseUSDfalsefalse$2falseColumnperiodPeriod*ColumnprimaryElement*6fals e0rr_ExpenseExampleNoRedemptionYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsetrue592592falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryYou would pay the following expenses if you did not redeem your shares. 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Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information requir ed by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalse19false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">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 year end, the Fund's portfolio turnover rate was&nbsp;<font class="_mt">64%</font> of the average value of its portfolio. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalse20false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse 00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_5"> </a>Principal Investment Strategies of the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse21false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund normally invests 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the Fund to achieve a floating rate of income.</font></font>These investments may include but are not limited to, any combination of the following securities: (i)&nbsp;senior secured floating rate loans or debt; (ii)&nbsp;second lien or other subordinated or unsecured floating rate loans or debt; and (iii)&nbsp;fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. The Fund may also purchase, without limitation, participations or assignments in senior floating rate loans or second lien floating rate loans. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">For purposes of the Fund's investments, the term debt includes investments in convertible or preferred securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of any credit quality without limitation, including securities rated below investment grade. The Fund anticipates that, under current market conditions, substantially all of its portfolio will consist of securities rated below investment grade, which are commonly referred to as "junk bonds." </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 20% of its assets in fixed income securities with respect to which the Fund has not entered into derivative instruments to effectively convert the fixed-rate interest payments into floating rate interest payments. Such fixed income securities include, but are not limited to, corporate bonds, preferred securities, convertible securities, mezzanine investments, collateralized loan obligations, senior loans, second lien loans, structured products and U.S. government debt securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund's investments in any floating rate and fixed income securities may be of any duration or maturity. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest in securities of foreign issuers, including issuers located in emerging markets, without limitation. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest up to 15% of its assets in illiquid securities. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may also invest in companies whose financial condition is uncertain, where the borrower has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, or that may be involved in bankruptcy proceedings, reorganizations or financial restructurings. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may invest up to 10% of its assets in common stocks or other equity securities. In addition, the Fund may acquire and hold such securities (or rights to acquire such securities) in unit offerings with fixed income securities, in connection with an amendment, waiver, conversion or exchange of fixed income securities, in connection with the bankruptcy or workout of a distressed fixed income security, or upon the exercise of a right or warrant obtained on account of a fixed income security. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may buy or sell options or futures on a security or an index of securities, buy or sell options on futures or enter into credit default swaps and interest rate or foreign currency transactions, including swaps and forward contracts (collectively, commonly known as derivatives). The Fund may use derivatives for hedging purposes, as well as to increase the total return on its portfolio investments. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2">The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. </font></p></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalse22false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_6"> </a>Principal Risks of Investing in the Fund</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalse23false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;<font class="_mt">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> The following is a summary description of certain risks of investing in the Fund. </font></p> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Convertible Securities Risk </i></b>&#8212; The market value of a convertible security performs like that of a regular debt security; that is, if market interest rates rise, the value of a convertible security usually falls. In addition, convertible securities are subject to the risk that the issuer will not be able to pay interest or dividends when due, and their market value may change based on changes in the issuer's credit rating or the market's perception of the issuer's creditworthiness. Since it derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Corporate Loans Risk </i></b>&#8212; Commercial banks and other financial institutions or institutional investors make corporate loans to companies that need capital to grow or restructure. Borrowers generally pay interest on corporate loans at rates that change in response to changes in market interest rates such as the London Interbank Offered Rate ("LIBOR") or the prime rates of U.S. banks. As a result, the value of corporate loan investments is generally less exposed to the adverse effects of shifts in market interest rates than investments that pay a fixed rate of interest. The market for corporate loans may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. The corporate loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Counterparty Risk </i></b>&#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund's securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Credit Risk </i></b>&#8212; Credit risk refers to the possibility that the issuer of a security will not be able to make payments of interest and principal when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Derivatives Risk </i></b>&#8212; 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 great er risk and increase its costs. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Distressed Securities Risk </i></b>&#8212; Distressed securities are speculative and involve substantial risks in addition to the risks of investing in junk bonds. The Fund will generally not receive interest payments on the distressed securities and may incur costs to protect its investment. In addition, distressed securities involve the substantial risk that principal will not be repaid. These securities may present a substantial risk of default or may be in default at the time of investment. The Fund may incur additional expenses to the extent it is required to seek recovery upon a default in the payment of principal of or interest on its portfolio holdings. In any reorganization or liquidation proceeding relating to a portfolio company, the Fund may lose its entire investment or may be required to accept cash or securities with a value less than its original investment. Distressed securiti es and any securities received in an exchange for such securities may be subject to restrictions on resale. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Dividend Risk </i></b>&#8212; Because most of the corporate loans held by the Fund will have floating or variable interest rates, the amounts of the Fund's monthly distributions to its stockholders are expected to vary with fluctuations in market interest rates. Generally, when market interest rates fall, the amount of the distributions to stockholders will likewise decrease. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Emerging Markets Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Equity Securities Risk </i></b>&#8212; Stock markets are volatile. The price of equity securities fluctuates based on changes in a company's financial condition and overall market and economic conditions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Event Risk </i></b>&#8212; Event risk is the risk that corporate issuers may undergo restructurings, such as mergers, leveraged buyouts, takeovers, or similar events financed by increased debt. As a result of the added debt, the credit quality and market value of a company's bonds and/or other debt securities may decline significantly. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Extension Risk </i></b>&#8212; When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Foreign Securities Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2">Changes in foreign currency exchange rates can affect the value of the Fund's portfolio. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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.&nbsp;securities laws. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="2%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="2%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: SYMBOL;" class="_mt" color="#000000" size="2">&#183;</font><font style="font-family: Times New Roman;" class="_mt" size="2"> </font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" 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></p></td></tr></table> <p style="margin-top: 6px; margin-bottom: 0px; font-size: 1px;">&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>High Portfolio Turnover Risk </i></b>&#8212; The Fund may engage in active and frequent trading of its portfolio securities. High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund, including brokerage commissions, dealer mark-ups and other transaction costs on the sale of the securities and on reinvestment in other securities. The sale of Fund portfolio securities may result in the realization and/or distribution to shareholders of higher capital gains or losses as compared to a fund with less active trading policies. Given the frequency of sales, such gain or loss will likely be short-term capital gain or loss and, in the event of a gain, would increase an investor's tax liability unless shares are held through a tax-deferred or exempt vehicle. These effects of higher than normal portfolio turnover may adversely affect Fund performance. </font>< ;/p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Interest Rate Risk </i></b>&#8212; Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall, and decrease as interest rates rise. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Junk Bonds Risk </i></b>&#8212; Although junk bonds generally pay higher rates of interest than investment grade bonds, junk bonds are high risk investments that may cause income and principal losses for the Fund. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Liquidity Risk </i></b>&#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund's investments in illiquid securities may reduce the returns of the Fund because it may be difficult to sell the illiquid securities at an advantageous time or price. To the extent that the Fund's principal investment strategies involve derivatives or securities with substantial market and/or credit risk, the Fund will tend to have the greatest exposure to liquidity risk. Liquid investments may become illiquid after purchase by the Fund, particularly during periods of market turmoil. Illiquid investments may be harder to value, especially in changing markets, and if the Fund is forced to sell these investments to meet redemption requests or for other cash needs, the Fund may suffer a loss. In addition, when there is illiquidity in the market for certain securities, the Fu nd, due to limitations on illiquid investments, may be subject to purchase and sale restrictions. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Market Risk and Selection Risk </i></b>&#8212; 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></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Mezzanine Securities Risk </i></b>&#8212; Mezzanine securities carry the risk that the issuer will not be able to meet its obligations and that the equity securities purchased with the mezzanine investments may lose value. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Preferred Securities Risk </i></b>&#8212; Preferred securities may pay fixed or adjustable rates of return. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company's preferred securities generally pay dividends only after the company makes required payments to holders of its bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt to actual or perceived changes in the company's financial condition or prospects. Preferred securities of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Prepayment Risk </i></b>&#8212; When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Second Lien Loans Risk </i></b>&#8212; Second lien loans generally are subject to similar risks as those associated with investments in senior loans. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Senior Loans Risk </i></b>&#8212; There is less readily available, reliable information about most senior loans than is the case for many other types of securities. An economic downturn generally leads to a higher non-payment rate, and a senior loan may lose significant value before a default occurs. Moreover, any specific collateral used to secure a senior loan may decline in value or become illiquid, which would adversely affect the senior loan's value. No active trading market may exist for certain senior loans, which may impair the ability of the Fund to realize full value in the event of the need to sell a senior loan and which may make it difficult to value senior loans. Although senior loans in which the Fund will invest generally will be secured by specific collateral, there can be no assurance that liquidation of such collateral would satisfy the borrower's obligation in the event of non-payment of scheduled interest or principal or that such collateral could be readily liquidated. To the extent that a senior loan is collateralized by stock in the borrower or its subsidiaries, such stock may lose all of its value in the event of the bankruptcy of the borrower. Uncollateralized senior loans involve a greater risk of loss. The senior loans in which the Fund invests are usually rated below investment grade. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>Structured Products Risk </i></b>&#8212; Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Fund may have the right to receive payments only from the structured product, and generally does not have direct rights against the issuer or the entity that sold the assets to be securitized. Certain structured products may be thinly traded or have a limited trading market. In addition to the general risks associated with debt securities discussed herein, structured products carry additional risks, including, but not limited to: the possibility that distributions from collateral securities will not be adequate to make interest or other payments; the quality of the collateral may decline in value or default; and the possibility that the structured products are subordinate to other classes. Structured notes are based upon the movement of one or more factors, including currency exchange rates, interest rates, referenced bonds and stock indices, and changes in interest rates and impact of these factors may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on the structured note to be reduced to zero. </font></p></td></tr></table> <p style="margin-top: 0px; margin-bottom: -6px;"><font class="_mt" size="1"> </font>&nbsp;</p> <table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td valign="top" width="1%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><font style="font-family: Times New Roman;" class="_mt" size="2"><font style="font-family: WINGDINGS;" class="_mt">n</font></font><font style="font-family: ARIAL;" class="_mt" size="2"> </font></font></td> <td valign="top" width="1%">&nbsp;</td> <td valign="top" align="left"> <p align="left"><font style="font-family: ARIAL;" class="_mt" size="2"><b><i>U.S. Government Issuer Risk </i></b>&#8212; Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. </font></p></td></tr></table></div> </div>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalse24false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="3"><b> </b><b><i><a name="toc109499_7"> </a>Performance Information</i></b></font></p></div>falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse25false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsef alse00<div> <div class="MetaData"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: ARIAL;" class="_mt" size="2"><font class="_mt"><font style="font-family: ARIAL;" class="_mt" size="2">Because the Fund commenced operations on July&nbsp;9, 2010, there is no historical performance information shown. <font class="_mt">Performance will be presented after the Fund has been in operation for one full calendar year. </font></font></font>Current performance information is available through&nbsp;<font class="_mt"><a style="text-decoration: none;" href="funds"><font color="black" class="_mt">www.blackrock.com/funds</font></a></font> or may be obtained by calling <font class="_mt">(800)&nbsp;441-7762</font>. </font></p></div> </div>falsefal sefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalse124Risk/Return Summary - (BlackRock Floating Rate Income Portfolio) (C1 shares) (C1 Shares, BlackRock Floating Rate Income Portfolio)UnKnownUnKnownUnKnownUnKnownfalsetrue -----END PRIVACY-ENHANCED MESSAGE-----