0001193125-12-483575.txt : 20121128 0001193125-12-483575.hdr.sgml : 20121128 20121128144539 ACCESSION NUMBER: 0001193125-12-483575 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20121128 DATE AS OF CHANGE: 20121128 EFFECTIVENESS DATE: 20121128 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FUNDS CENTRAL INDEX KEY: 0000844779 IRS NUMBER: 510318674 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-26305 FILM NUMBER: 121228722 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: COMPASS CAPITAL FUNDS\ DATE OF NAME CHANGE: 19961114 FORMER COMPANY: FORMER CONFORMED NAME: PNC FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NCP FUNDS DATE OF NAME CHANGE: 19890511 0000844779 S000001870 BLACKROCK MANAGED VOLATILITY PORTFOLIO C000004878 INSTITUTIONAL PBAIX C000004879 SERVICE PCBSX C000004880 INVESTOR A PCBAX C000004881 INVESTOR B CBIBX C000004882 INVESTOR C BRBCX 497 1 d443179d497.htm BLACKROCK MANAGED VOLATILITY PORTFOLIO BlackRock Managed Volatility Portfolio
LOGO   

SIDLEY AUSTIN LLP

787 SEVENTH AVENUE

NEW YORK, NY 10019

(212) 839 5300

(212) 839 5599 FAX

  

BEIJING

BRUSSELS

CHICAGO

DALLAS

FRANKFURT

GENEVA

HONG KONG

HOUSTON

LONDON

 

FOUNDED 1866

  

LOS ANGELES

NEW YORK

PALO ALTO

SAN FRANCISCO

SHANGHAI

SINGAPORE

SYDNEY

TOKYO

WASHINGTON, D.C.

November 28, 2012

VIA EDGAR

Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

 

  Re:

BlackRock Managed Volatility Portfolio, a series of BlackRock FundsSM

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

Ladies and Gentlemen:

On behalf of BlackRock FundsSM, attached for filing are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information in the Prospectuses of BlackRock Managed Volatility Portfolio (the “Fund”), dated May 15, 2012, as amended November 6, 2012, as filed pursuant to Rule 497(e) under the Securities Act of 1933, on November 6, 2012 (the “497 Filing”). The purpose of this filing is to submit the 497 Filing in XBRL for the Fund.

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

 

Very truly yours,

/s/ Ellen W. Harris

Ellen W. Harris

Enclosures

 

cc: Ben Archibald, Esq.

BlackRock Advisors, LLC

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

EX-101.INS 2 brf7-20121106.xml XBRL INSTANCE DOCUMENT 0000844779 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:C000004879Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember rr:AfterTaxesOnDistributionsMember brf7:C000004879Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember rr:AfterTaxesOnDistributionsAndSalesMember brf7:C000004879Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:SAndPIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:BarclaysUsAggregateBondIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:MsciAcwiIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:CitigroupWgbiIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:SixtySAndPIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:SixtyMsciIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember brf7:SixtyCitigroupIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:C000004880Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:C000004881Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:C000004882Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:C000004878Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:ServiceSharesMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember rr:AfterTaxesOnDistributionsMember brf7:C000004880Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember rr:AfterTaxesOnDistributionsAndSalesMember brf7:C000004880Member 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:SAndPIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:BarclaysUsAggregateBondIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:MsciAcwiIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:CitigroupWgbiIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:SixtySAndPIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:SixtyMsciIndexMember 2011-05-16 2012-05-15 0000844779 brf7:S000001870Member brf7:InvestorAbcInstitutionalSharesMember brf7:SixtyCitigroupIndexMember 2011-05-16 2012-05-15 pure iso4217:USD 2012-05-15 Other BLACKROCK FUNDS 0000844779 false 2012-11-06 2012-11-06 2011-09-30 0.0055 0.0025 0.004 0.0001 0.0039 0.0018 0.0138 -0.0005 0.0133 135 432 750 1653 -0.1566 0.2553 0.1117 0.0618 0.1011 0.0937 -0.2681 0.266 0.1376 -0.0349 -0.0349 -0.0403 -0.0166 0.0211 0.0784 -0.0735 0.0549 0.0469 -0.0114 -0.0196 0.0216 0.0139 0.0167 -0.0025 0.065 -0.0193 0.0492 0.0284 0.0191 0.0138 0.0435 0.0344 0.0346 0.0292 0.0578 0.0424 0.0475 0.044 0.0527 0.0489 0.0525 0 0 0 0 0.045 0.01 0 0.0055 0.0055 0.0055 0.0055 0.01 0.0025 0.01 0 0.0037 0.0041 0.0034 0.0035 0.0001 0.0001 0.0001 0.0001 0.0036 0.004 0.0033 0.0034 0.0018 0.0018 0.0018 0.0018 0.0135 0.0214 0.0207 0.0108 -0.0005 -0.0005 -0.0005 -0.0005 0.013 0.0209 0.0202 0.0103 650 662 305 105 926 1015 644 339 <div style="display:none">~ http://www.blackrock.com/role/ScheduleShareholderFeesBLACKROCKMANAGEDVOLATILITYPORTFOLIO column period compact * ~</div> 1221 1109 1345 591 2060 2267 1313 2396 <div style="display:none">~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBLACKROCKMANAGEDVOLATILITYPORTFOLIO column period compact * ~</div> 212 205 665 644 1145 1109 2267 2396 <div style="display:none">~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBLACKROCKMANAGEDVOLATILITYPORTFOLIO column period compact * ~</div> -0.1558 <div style="display:none">~ http://www.blackrock.com/role/ScheduleAnnualFundOperatingExpensesBLACKROCKMANAGEDVOLATILITYPORTFOLIOServicesShares column period compact * ~</div> 0.2577 0.115 0.0646 0.1039 0.0968 -0.269 <div style="display:none">~ http://www.blackrock.com/role/ScheduleExpenseExampleNoRedemptionTransposedBLACKROCKMANAGEDVOLATILITYPORTFOLIO column period compact * ~</div> 0.2643 0.1374 -0.0352 <div style="display:none">~ http://www.blackrock.com/role/ScheduleExpenseExampleTransposedBLACKROCKMANAGEDVOLATILITYPORTFOLIOServicesShares column period compact * ~</div> <div style="display:none">~ http://www.blackrock.com/role/ScheduleAnnualTotalReturnsBLACKROCKMANAGEDVOLATILITYPORTFOLIOBarChart column period compact * ~</div> <div style="display:none">~ http://www.blackrock.com/role/ScheduleAnnualTotalReturnsBLACKROCKMANAGEDVOLATILITYPORTFOLIOServicesSharesBarChart column period compact * ~</div> <div style="display:none">~ http://www.blackrock.com/role/ScheduleAverageAnnualTotalReturnsTransposedBLACKROCKMANAGEDVOLATILITYPORTFOLIOServicesShares column period compact * ~</div> -0.0858 -0.0909 -0.05 -0.085 -0.0513 -0.0321 0.0211 0.0784 -0.0735 0.0549 0.0469 -0.0114 -0.0196 0.0097 0.0024 0.0067 0.0091 0.0134 0.0243 -0.0025 0.065 -0.0193 0.0492 0.0284 0.0191 0.0138 0.0369 0.028 0.0288 0.0363 0.0351 0.046 0.0292 0.0578 0.0424 0.0475 0.044 0.0527 0.0489 <font style="FONT-FAMILY: arial" size="6">Fund Overview</font> <font style="FONT-FAMILY: arial" size="2"><i><b>Investment Objective </b></i></font> <font style="FONT-FAMILY: arial" size="2">The investment objective of BlackRock Managed Volatility Portfolio, formerly BlackRock Asset Allocation Portfolio, (&#8220;Managed Volatility Portfolio&#8221; or the &#8220;Fund&#8221;), a series of BlackRock Funds<sup>SM</sup> (the &#8220;Trust&#8221;), is to seek total return.</font> <font style="FONT-FAMILY: arial" size="2"><b><i>Fees and Expenses of the Fund </i></b></font> <font style="FONT-FAMILY: arial" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of Managed Volatility Portfolio.</font> <font style="FONT-FAMILY: arial" size="2"><b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment)</font> <font style="FONT-FAMILY: arial" size="2"><b>Portfolio Turnover:</b></font> <font style="FONT-FAMILY: arial" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 401% of the average value of its portfolio.</font> <font style="FONT-FAMILY: arial" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: arial" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: arial" size="2"><b><i>Principal Investment Strategies of the Fund </i></b></font> <font style="FONT-FAMILY: arial" size="2">Managed Volatility Portfolio uses an asset allocation strategy, investing varying percentages of its portfolio in three major categories: stocks, bonds and money market instruments. The Fund has wide flexibility in the relative weightings given to each category.</font> <br /><br /><font style="FONT-FAMILY: arial" size="2"> The Fund may also invest a significant portion of its assets in affiliated and unaffiliated ETFs and mutual funds. See &#8220;Information About the ETFs and Mutual Funds.&#8221;</font> <br /><br /><font style="FONT-FAMILY: arial" size="2"> With respect to its equity investments, the Fund may invest in ETFs, mutual funds or individual equity securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts. The Fund, the ETFs and the mutual funds may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund, the ETFs and the mutual funds may invest in securities of companies of any market capitalization.</font> <br /><br /><font style="FONT-FAMILY: arial" size="2"> With respect to its fixed-income investments, the Fund may invest in ETFs, mutual funds or individual fixed-income securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations, asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S. governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund, the ETFs and the mutual funds may also invest a significant portion of their assets in non-investment grade bonds (junk bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund, the ETFs and the mutual funds may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis.</font> <br /><br /><font style="FONT-FAMILY: arial" size="2"> With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements. The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates.</font> <br /><br /><font style="FONT-FAMILY: arial" size="2"> The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, indexed and inverse floating rate securities, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S. currencies. The ETFs and the mutual funds may, to varying degrees, also invest in derivatives.</font> <br /><br /><font style="FONT-FAMILY: arial" size="2"> The Fund may invest in U.S. and non-U.S. real estate investment trusts (&#8220;REITs&#8221;), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).</font> <br /><br /><font style="FONT-FAMILY: arial" size="2"> The Fund incorporates a volatility control process that seeks to reduce risk when portfolio volatility is expected to deviate from the Fund&#8217;s targeted total return volatility of 10% over a one-year period. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index over time. Volatility may result in rapid and dramatic price swings. While BlackRock attempts to manage the Fund&#8217;s volatility exposure to stabilize performance, there can be no guarantee that the Fund will reach its target volatility. The Fund will adjust its asset allocation in response to periods of high or low expected volatility. The Fund may without limitation allocate assets into cash or short-term fixed-income securities, and away from riskier assets such as equity and high yield fixed-income securities. When volatility decreases, the Fund may move assets out of cash and back into riskier securities. At any given time, the Fund may be invested entirely in equities, fixed-income or cash. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.</font> <font style="FONT-FAMILY: ARIAL" size="6">Fund Overview</font> <font style="FONT-FAMILY: ARIAL" size="2"><b><i>Investment Objective</i></b></font> <font style="FONT-FAMILY: ARIAL" size="2">The investment objective of BlackRock Managed Volatility Portfolio, formerly BlackRock Asset Allocation Portfolio, (&#8220;Managed Volatility Portfolio&#8221; or the &#8220;Fund&#8221;), a series of BlackRock Funds<sup>SM</sup> (the &#8220;Trust&#8221;), is to seek total return.</font> <font style="FONT-FAMILY: ARIAL" size="2"><b><i>Fees and Expenses of the Fund</i></b></font> <font style="FONT-FAMILY: ARIAL" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of Managed Volatility Portfolio. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (&#8220;BlackRock&#8221;). More information about these and other discounts is available from your financial professional and in the &#8220;Details About the Share Classes&#8221; section on page 61 of the Fund&#8217;s prospectus and in the &#8220;Purchase of Shares&#8221; section on page II-73 of the Fund&#8217;s statement of additional information.</font> <font style="FONT-FAMILY: ARIAL" size="2"><b>Shareholder Fees <br>(fees paid directly from your investment)</font> <font style="FONT-FAMILY: ARIAL" size="2"><b>Annual Fund Operating Expenses<br>(expenses that you pay each year as a <br/>percentage of the value of your investment)</font> <font style="FONT-FAMILY: ARIAL" size="2"><b>Portfolio Turnover:</b></font> <font style="FONT-FAMILY: ARIAL" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 401% of the average value of its portfolio.</font> <font style="FONT-FAMILY: arial" size="2"><b><i>Investment Risks </i></b></font> <font style="FONT-FAMILY: ARIAL" size="2"><b>Example:</b></font> <font style="FONT-FAMILY: arial" size="2">Risk is inherent in all investing. The value of your investment in Managed Volatility Portfolio, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The principal risks set forth below are the principal risks of investing in the Fund, the ETFs and/or the mutual funds. In the following discussion, references to the &#8220;Fund&#8221; shall mean any one or more of the relevant ETFs or mutual funds and the Fund, where applicable.</font><br/><br/> <font style="FONT-FAMILY: arial" size="2"><b>Principal Risks of the Fund&#8217;s Fund of Funds Structure</b></font><br/> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Affiliated Fund Risk</i></b> &#8212; In managing the Fund, BlackRock will have authority to select and substitute ETFs or mutual funds. BlackRock may be subject to potential conflicts of interest in selecting ETFs or mutual funds because the fees paid to BlackRock by some ETFs or mutual funds are higher than the fees paid by other ETFs or mutual funds. However, BlackRock is a fiduciary to the Fund and is legally obligated to act in the Fund&#8217;s best interests when selecting ETFs and mutual funds.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Allocation Risk</i></b> &#8212; The Fund&#8217;s ability to achieve its investment objective depends upon BlackRock&#8217;s skill in determining the Fund&#8217;s strategic asset class allocation and in selecting the best mix of ETFs, mutual funds and direct investments. There is a risk that BlackRock&#8217;s evaluations and assumptions regarding asset classes or ETFs or mutual funds may be incorrect in view of actual market conditions.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Investments in ETFs and Other Mutual Funds Risk</i></b> &#8212; The Fund&#8217;s net asset value will change with changes in the value of the ETFs, mutual funds and other securities in which it invests. As with other investments, investments in other investment companies, including ETFs, are subject to market risk and, for non-index strategies, selection risk. In addition, if the Fund acquires shares of investment companies, including ETFs, shareholders bear both their proportionate share of expenses in the Fund (including management and advisory fees) and, indirectly, the expenses of the investment companies. If the Fund acquires shares of affiliated mutual funds, shareholders bear both their proportionate share of expenses in the Fund (excluding management and advisory fees) and, indirectly, the expenses of the mutual funds. To the extent the Fund is held by an affiliated fund, the ability of the Fund itself to hold other investment companies may be limited.<br/><br/>One ETF or mutual fund may buy the same securities that another ETF or mutual fund sells. In addition, the Fund may buy the same securities that an ETF or mutual fund sells, or vice-versa. If this happens, an investor in the Fund would indirectly bear the costs of these transactions without accomplishing the intended investment purpose. Also, an investor in the Fund may receive taxable gains from portfolio transactions by an ETF or mutual fund, as well as taxable gains from transactions in shares of the ETF or mutual fund by the Fund. Certain of the ETFs or mutual funds may hold common portfolio securities, thereby reducing the diversification benefits of the Fund.</font></li></ul> <font style="FONT-FAMILY: arial" size="2"><b>Principal ETF-Specific Risks</b></font> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Cash Transaction Risk</i></b> &#8212; Certain ETFs intend to effect creations and redemptions principally for cash, rather than primarily in-kind because of the nature of the ETF&#8217;s investments. Investments in such ETFs may be less tax efficient than investments in ETFs that effect creations and redemptions in-kind.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Management Risk</i></b> &#8212; If an ETF does not fully replicate the underlying index, it is subject to the risk that the manager&#8217;s investment management strategy may not produce the intended results.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Passive Investment Risk</i></b> &#8212; ETFs purchased by the Fund are not actively managed and may be affected by a general decline in market segments relating to their respective indices. An ETF typically invests in securities included in, or representative of, its index regardless of their investment merits and does not attempt to take defensive positions in declining markets.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Representative Sampling Risk</i></b> &#8212; When an ETF deviates from a full replication indexing strategy to utilize a representative sampling strategy, the ETF is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the ETF may not have an investment profile similar to those of its index.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Shares of an ETF May Trade at Prices Other Than Net Asset Value</i></b> &#8212; The trading prices of an ETF&#8217;s shares fluctuate continuously throughout trading hours based on market supply and demand rather than net asset value. The trading prices of an ETF&#8217;s shares may deviate significantly from net asset value during periods of market volatility. Any of these factors may lead to an ETF&#8217;s shares trading at a premium or discount to net asset value. However, because shares can be created and redeemed in Creation Units, which are aggregated blocks of shares that authorized participants who have entered into agreements with the ETF&#8217;s distributor can purchase or redeem directly from the ETF, at net asset value, large discounts or premiums to the net asset value of an ETF are not likely to be sustained over the long term. If a shareholder purchases at a time when the market price is at a premium to the net asset value or sells at a time when the market price is at a discount to the net asset value, the shareholder may sustain losses.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Tracking Error Risk</i></b> &#8212; Imperfect correlation between an ETF&#8217;s portfolio securities and those in its index, rounding of prices, the timing of cash flows, the ETF&#8217;s size, changes to the index and regulatory requirements may cause tracking error, which is the divergence of an ETF&#8217;s performance from that of its underlying index. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because an ETF incurs fees and expenses while its underlying index does not.</font></li></ul> <font style="FONT-FAMILY: arial" size="2"><b>Other Principal Risks of Investing in the Fund</b></font><br/> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Collateralized Debt Obligations Risk</i></b> &#8212; The pool of high yield securities underlying collateralized debt obligations is typically separated into groupings called tranches representing different degrees of credit quality. The higher quality tranches have greater degrees of protection and pay lower interest rates. The lower tranches, with greater risk, pay higher interest rates.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Concentration Risk</i></b> &#8212; To the extent that the Fund&#8217;s portfolio reflects concentration in the securities of issuers in a particular region, market, industry, group of industries, country, group of countries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that region, market, industry, group of industries, country, group of countries, sector or asset class.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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&#8217;s credit rating or the market&#8217;s perception of the issuer&#8217;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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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 (&#8220;LIBOR&#8221;) 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Counterparty Risk</i></b> &#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund&#8217;s securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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. The degree of credit risk depends on the issuer&#8217;s financial condition and on the terms of the securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Debt Securities Risk</i></b> &#8212; Debt securities, such as bonds, involve credit risk. Debt securities are also subject to interest rate risk.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Derivatives Risk</i></b> &#8212; The Fund&#8217;s use of derivatives may reduce the Fund&#8217;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&#8217;s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Dollar Rolls Risk</i></b> &#8212; Dollar rolls involve the risk that the market value of the securities that the Fund is committed to buy may decline below the price of the securities the Fund has sold. These transactions may involve leverage.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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&#8217;s financial condition and overall market and economic conditions.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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></li></ul> <div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1"> </font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"> <font style="FONT-FAMILY: arial" size="2">The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;"> </p></td></tr></table></div><br /><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1"> </font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"> <font style="FONT-FAMILY: arial" size="2">Changes in foreign currency exchange rates can affect the value of the Fund&#8217;s portfolio.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;"> </p></td></tr></table></div> <br /><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1"> </font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"> <font style="FONT-FAMILY: arial" size="2">The economies of certain foreign markets may not compare favorably with the economy of the United States with respect to such issues as growth of gross national product, reinvestment of capital, resources and balance of payments position.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;"> </p></td></tr></table></div> <br /><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1"> </font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"> <font style="FONT-FAMILY: arial" size="2">The governments of certain countries may prohibit or impose substantial restrictions on foreign investments in their capital markets or in certain industries.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;"> </p></td></tr></table></div> <br /><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1"> </font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"> <font style="FONT-FAMILY: arial" size="2">Many foreign governments do not supervise and regulate stock exchanges, brokers and the sale of securities to the same extent as does the United States and may not have laws to protect investors that are comparable to U.S. securities laws.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;"> </p></td></tr></table></div><br /> <div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1"> </font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"> <font style="FONT-FAMILY: arial" size="2">Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;"> </p></td></tr></table></div> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>High Portfolio Turnover Risk</i></b> &#8212; High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund and potentially higher capital gains or losses for shareholders. The effects of higher than normal portfolio turnover may adversely affect Fund performance.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Indexed and Inverse Securities Risk</i></b> &#8212; Certain indexed and inverse securities have greater sensitivity to changes in interest rates or index levels than other securities, and the Fund&#8217;s investment in such instruments may decline significantly in value if interest rates or index levels move in a way Fund management does not anticipate.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Inflation Indexed Bonds Risk</i></b> &#8212; The principal value of an investment is not protected or otherwise guaranteed by virtue of the Fund&#8217;s investments in inflation-indexed bonds.<br/><br/>Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced.<br/><br/>Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value.<br/><br/>The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Short-term increases in inflation may lead to a decline in value. Any increase in the principal amount of an inflation-indexed bond will be considered taxable ordinary income, even though investors do not receive their principal until maturity.<br/><br/>Periodic adjustments for inflation to the principal amount of an inflation-indexed bond may give rise to original issue discount, which will be includable in the Fund&#8217;s gross income. Due to original issue discount, the Fund may be required to make annual distributions to shareholders that exceed the cash received, which may cause the Fund to liquidate certain investments when it is not advantageous to do so. Also, if the principal value of an inflation-indexed bond is adjusted downward due to deflation, amounts previously distributed in the taxable year may be characterized in some circumstances as a return of capital.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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. In general, the market price of debt securities with longer maturities will go up or down more in response to changes in interest rates than the market price of shorter term securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Investment Style Risk</i></b> &#8212; Under certain market conditions, growth investments have performed better during the later stages of economic expansion and value investments have performed better during periods of economic recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other funds that use different investment styles.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Leverage Risk</i></b> &#8212; Some transactions may give rise to a form of economic leverage. These transactions may include, among others, derivatives, and may expose the Fund to greater risk and increase its costs. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet any required asset segregation requirements. Increases and decreases in the value of the Fund&#8217;s portfolio will be magnified when the Fund uses leverage.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Liquidity Risk</i></b> &#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund&#8217;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&#8217;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 Fund, due to limitations on illiquid investments, may be subject to purchase and sale restrictions.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Mid-Cap Securities Risk</i></b> &#8212; The securities of mid-cap companies generally trade in lower volumes and are generally subject to greater and less predictable price changes than the securities of larger capitalization companies.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Mortgage- and Asset-Backed Securities Risks</i></b> &#8212; Mortgage- and asset-backed securities represent interests in &#8220;pools&#8221; of mortgages or other assets, including consumer loans or receivables held in trust. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risks. These securities also are subject to risk of default on the underlying mortgage or asset, particularly during periods of economic downturn. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Municipal Securities Risks</i></b> &#8212; Municipal securities risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers of municipal securities, and the possibility of future legislative changes which could affect the market for and value of municipal securities. These risks include:</font></li></ul> <blockquote><font style="FONT-FAMILY: arial" size="2"><i>General Obligation Bonds Risks</i> &#8212; Timely payments depend on the issuer&#8217;s credit quality, ability to raise tax revenues and ability to maintain an adequate tax base.</font></blockquote> <blockquote><font style="FONT-FAMILY: arial" size="2"><i>Revenue Bonds Risks</i> &#8212; These payments depend on the money earned by the particular facility or class of facilities, or the amount of revenues derived from another source.</font></blockquote> <blockquote><font style="FONT-FAMILY: arial" size="2"><i>Private Activity Bonds Risks</i> &#8212; Municipalities and other public authorities issue private activity bonds to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its faith, credit and taxing power for repayment.</font></blockquote> <blockquote><font style="FONT-FAMILY: arial" size="2"><i>Moral Obligation Bonds Risks</i> &#8212; Moral obligation bonds are generally issued by special purpose public authorities of a state or municipality. If the issuer is unable to meet its obligations, repayment of these bonds becomes a moral commitment, but not a legal obligation, of the state or municipality.</font></blockquote> <blockquote><font style="FONT-FAMILY: arial" size="2"><i>Municipal Notes Risks</i> &#8212; Municipal notes are shorter term municipal debt obligations. If there is a shortfall in the anticipated proceeds, the notes may not be fully repaid and the Fund may lose money.</font></blockquote> <blockquote><font style="FONT-FAMILY: arial" size="2"><i>Municipal Lease Obligations Risks</i> &#8212; In a municipal lease obligation, the issuer agrees to make payments when due on the lease obligation. Although the issuer does not pledge its unlimited taxing power for payment of the lease obligation, the lease obligation is secured by the leased property.</font></blockquote> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Real Estate Related Securities Risks</i></b> &#8212; The main risk of real estate related securities is that the value of the underlying real estate may go down. Many factors may affect real estate values. These factors include both the general and local economies, the amount of new construction in a particular area, the laws and regulations (including zoning and tax laws) affecting real estate and the costs of owning, maintaining and improving real estate. The availability of mortgages and changes in interest rates may also affect real estate values. If the Fund&#8217;s real estate related investments are concentrated in one geographic area or in one property type, the Fund will be particularly subject to the risks associated with that area or property type.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>REIT Investment Risk</i></b> &#8212; Investments in REITs involve unique risks. REITs may have limited financial resources, may trade less frequently and in limited volume and may be more volatile than other securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Repurchase Agreements and Purchase and Sale Contracts Risks</i></b> &#8212; If the other party to a repurchase agreement or purchase and sale contract defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. If the seller fails to repurchase the security in either situation and the market value of the security declines, the Fund may lose money.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Reverse Repurchase Agreements Risk</i></b> &#8212; Reverse repurchase agreements involve the risk that the other party to the reverse repurchase agreement may fail to return the securities in a timely manner or at all. The Fund could lose money if it is unable to recover the securities and the value of the collateral held by the Fund, including the value of the investments made with cash collateral, is less than the value of securities. These events could also trigger adverse tax consequences to the Fund.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Risks of Loan Assignments and Participations</i></b> &#8212; As the purchaser of an assignment, the Fund typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation; however, the Fund may not be able unilaterally to enforce all rights and remedies under the loan and with regard to any associated collateral. Because assignments may be arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. In addition, if the loan is foreclosed, the Fund could become part owner of any collateral and could bear the costs and liabilities of owning and disposing of the collateral. The Fund may be required to pass along to a purchaser that buys a loan from the Fund by way of assignment a portion of any fees to which the Fund is entitled under the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower, and the Fund may not directly benefit from any collateral supporting the loan in which it has purchased the participation. As a result, the Fund will be subject to the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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&#8217;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&#8217;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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Small Cap and Emerging Growth Securities Risks</i></b> &#8212; Small cap or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a more limited management group than larger capitalized companies.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Sovereign Debt Risk</i></b> &#8212; Sovereign debt instruments are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity&#8217;s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" 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.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Supranational Entities Risk</i></b> &#8212; The Fund may invest in obligations issued or guaranteed by the International Bank for Reconstruction and Development (the World Bank). If one or more stockholders of the World Bank fail to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities, and the Fund may lose money on such investments.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Tender Option Bonds and Related Securities Risk</i></b> &#8212; Investments in tender option bonds, residual interest tender option bonds and inverse floaters expose the Fund to the same risks as investments in derivatives, as well as risks associated with leverage, described above, especially the risk of increased volatility. An investment in these securities may be subject to the risk of loss of principal. Residual interest tender option bonds and inverse floaters generally will underperform the market for fixed rate municipal securities in a rising interest rate environment.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>U.S. Government Mortgage-Related Securities Risk</i></b> &#8212; There are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. Mortgage-related securities guaranteed by the Government National Mortgage Association (&#8220;Ginnie Mae&#8221;) are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. Ginnie Mae securities also are supported by the right of Ginnie Mae to borrow funds from the U.S. Treasury to make payments under its guarantee. Mortgage-related securities issued by The Federal National Mortgage Association (&#8220;Fannie Mae&#8221;) or The Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) are solely the obligations of Fannie Mae or Freddie Mac, as the case may be, and are not backed by or entitled to the full faith and credit of the United States but are supported by the right of the issuer to borrow from the U.S. Treasury.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>U.S. Government Obligations Risk</i></b> &#8212; Certain securities in which the Fund may invest, including securities issued by certain U.S. Government agencies and U.S. Government sponsored enterprises, are not guaranteed by the U.S. Government or supported by the full faith and credit of the United States.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Variable and Floating Rate Instrument Risk</i></b> &#8212; The absence of an active market for these securities could make it difficult for the Fund to dispose of them if the issuer defaults.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Warrants Risk</i></b> &#8212; If the price of the underlying stock does not rise above the exercise price before the warrant expires, the warrant generally expires without any value and the Fund loses any amount it paid for the warrant. Thus, investments in warrants may involve substantially more risk than investments in common stock.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: arial" size="2"><b><i>Zero Coupon Securities Risk</i></b> &#8212; While interest payments are not made on such securities, holders of such securities are deemed to have received income (&#8220;phantom income&#8221;) annually, notwithstanding that cash may not be received currently. Some of these securities may be subject to substantially greater price fluctuations during periods of changing market interest rates than are comparable securities that pay interest currently. Longer term zero coupon bonds are more exposed to interest rate risk than shorter term zero coupon bonds.</font></li></ul> <font style="FONT-FAMILY: ARIAL" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: arial" size="2"><b><i>Performance Information</i></b></font> <font style="FONT-FAMILY: ARIAL" size="2"><b><i>Principal Investment Strategies of the Fund </i></b></font> <font style="FONT-FAMILY: arial" size="2">Effective May 15, 2012, Managed Volatility Portfolio changed its investment strategy to invest a significant portion of its assets in ETFs and, to a lesser extent, in mutual funds and directly in securities. Performance for the periods shown below is based on the investment strategy utilized by the Fund prior to May 15, 2012, which focused on investing directly in securities.<br/><br/>On January 31, 2005, the Fund reorganized with the State Street Research Asset Allocation Fund (the &#8220;SSR Fund&#8221;), which had investment objectives and strategies similar to the Fund. For periods prior to January 31, 2005, the chart and table show performance information for the SSR Fund. The information shows you how the Fund&#8217;s performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Fund&#8217;s performance to that of the Standard &amp; Poor&#8217;s (&#8220;S&amp;P&#8221;) 500<sup>&#174;</sup> Index, the Barclays U.S. Aggregate Bond Index, the MSCI All Country World Index (the &#8220;MSCI ACWI Index&#8221;), the Citigroup World Government Bond Index (hedged into USD) (the &#8220;Citigroup WGBI (hedged into USD)&#8221;) and three customized weighted indices comprised of the returns of the S&amp;P 500<sup>&#174;</sup> Index, the MSCI ACWI Index, the Barclays U.S. Aggregate Bond Index and the Citigroup WGBI (hedged into USD) in the percentages and combinations set forth in the table. Effective October 1, 2011, the Fund changed one of the components making up the customized weighted index from the S&amp;P 500<sup>&#174;</sup> Index to the MSCI ACWI Index. Fund management believes that the MSCI ACWI Index better reflects the Fund&#8217;s increasing exposure to non-U.S. equities. Effective May 15, 2012, the Fund changed one of the components making up the customized weighted index from the Barclays U.S. Aggregate Bond Index to the Citigroup WGBI (hedged into USD). Fund management believes that the Citigroup WGBI (hedged into USD) better reflects the Fund&#8217;s increasing global exposure. As with all such investments, past performance (before and after taxes) is not an indication of future results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the Fund&#8217;s returns would have been lower. Updated information on the Fund&#8217;s results can be obtained by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052. </font> <font style="FONT-FAMILY: ARIAL" size="2">Managed Volatility Portfolio uses an asset allocation strategy, investing varying percentages of its portfolio in three major categories: stocks, bonds and money market instruments. The Fund has wide flexibility in the relative weightings given to each category.</font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2"> The Fund may also invest a significant portion of its assets in affiliated and unaffiliated ETFs and mutual funds. See &#8220;Information About the ETFs and Mutual Funds.&#8221;</font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2"> With respect to its equity investments, the Fund may invest in ETFs, mutual funds or individual equity securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts. The Fund, the ETFs and the mutual funds may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund, the ETFs and the mutual funds may invest in securities of companies of any market capitalization.</font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2"> With respect to its fixed-income investments, the Fund may invest in ETFs, mutual funds or individual fixed-income securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations, asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S. governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund, the ETFs and the mutual funds may also invest a significant portion of their assets in non-investment grade bonds (junk bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund, the ETFs and the mutual funds may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis.</font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2"> With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements. The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates.</font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2"> The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, indexed and inverse floating rate securities, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S. currencies. The ETFs and the mutual funds may, to varying degrees, also invest in derivatives.</font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2"> The Fund may invest in U.S. and non-U.S. real estate investment trusts (&#8220;REITs&#8221;), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).</font> <br /><br /><font style="FONT-FAMILY: ARIAL" size="2"> The Fund incorporates a volatility control process that seeks to reduce risk when portfolio volatility is expected to deviate from the Fund&#8217;s targeted total return volatility of 10% over a one-year period. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index over time. Volatility may result in rapid and dramatic price swings. While BlackRock attempts to manage the Fund&#8217;s volatility exposure to stabilize performance, there can be no guarantee that the Fund will reach its target volatility. The Fund will adjust its asset allocation in response to periods of high or low expected volatility. The Fund may without limitation allocate assets into cash or short-term fixed-income securities, and away from riskier assets such as equity and high yield fixed-income securities. When volatility decreases, the Fund may move assets out of cash and back into riskier securities. At any given time, the Fund may be invested entirely in equities, fixed-income or cash. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.</font> <font style="FONT-FAMILY: ARIAL" size="2"><b><i>Investment Risks </i></b></font> <font style="FONT-FAMILY: ARIAL" size="2">Risk is inherent in all investing. The value of your investment in Managed Volatility Portfolio, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The principal risks set forth below are the principal risks of investing in the Fund, the ETFs and/or the mutual funds. In the following discussion, references to the &#8220;Fund&#8221; shall mean any one or more of the relevant ETFs or mutual funds and the Fund, where applicable.</font><br/><br/> <font style="FONT-FAMILY: ARIAL" size="2"><b>Principal Risks of the Fund&#8217;s Fund of Funds Structure</b></font><br/> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Affiliated Fund Risk</i></b> &#8212; In managing the Fund, BlackRock will have authority to select and substitute ETFs or mutual funds. BlackRock may be subject to potential conflicts of interest in selecting ETFs or mutual funds because the fees paid to BlackRock by some ETFs or mutual funds are higher than the fees paid by other ETFs or mutual funds. However, BlackRock is a fiduciary to the Fund and is legally obligated to act in the Fund&#8217;s best interests when selecting ETFs and mutual funds.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Allocation Risk</i></b> &#8212; The Fund&#8217;s ability to achieve its investment objective depends upon BlackRock&#8217;s skill in determining the Fund&#8217;s strategic asset class allocation and in selecting the best mix of ETFs, mutual funds and direct investments. There is a risk that BlackRock&#8217;s evaluations and assumptions regarding asset classes or ETFs or mutual funds may be incorrect in view of actual market conditions.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Investments in ETFs and Other Mutual Funds Risk</i></b> &#8212; The Fund&#8217;s net asset value will change with changes in the value of the ETFs, mutual funds and other securities in which it invests. As with other investments, investments in other investment companies, including ETFs, are subject to market risk and, for non-index strategies, selection risk. In addition, if the Fund acquires shares of investment companies, including ETFs, shareholders bear both their proportionate share of expenses in the Fund (including management and advisory fees) and, indirectly, the expenses of the investment companies. If the Fund acquires shares of affiliated mutual funds, shareholders bear both their proportionate share of expenses in the Fund (excluding management and advisory fees) and, indirectly, the expenses of the mutual funds. To the extent the Fund is held by an affiliated fund, the ability of the Fund itself to hold other investment companies may be limited.<br/><br/>One ETF or mutual fund may buy the same securities that another ETF or mutual fund sells. In addition, the Fund may buy the same securities that an ETF or mutual fund sells, or vice-versa. If this happens, an investor in the Fund would indirectly bear the costs of these transactions without accomplishing the intended investment purpose. Also, an investor in the Fund may receive taxable gains from portfolio transactions by an ETF or mutual fund, as well as taxable gains from transactions in shares of the ETF or mutual fund by the Fund. Certain of the ETFs or mutual funds may hold common portfolio securities, thereby reducing the diversification benefits of the Fund.</font></li></ul> <font style="FONT-FAMILY: ARIAL" size="2"><b>Principal ETF-Specific Risks</b></font> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Cash Transaction Risk</i></b> &#8212; Certain ETFs intend to effect creations and redemptions principally for cash, rather than primarily in-kind because of the nature of the ETF&#8217;s investments. Investments in such ETFs may be less tax efficient than investments in ETFs that effect creations and redemptions in-kind.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Management Risk</i></b> &#8212; If an ETF does not fully replicate the underlying index, it is subject to the risk that the manager&#8217;s investment management strategy may not produce the intended results.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Passive Investment Risk</i></b> &#8212; ETFs purchased by the Fund are not actively managed and may be affected by a general decline in market segments relating to their respective indices. An ETF typically invests in securities included in, or representative of, its index regardless of their investment merits and does not attempt to take defensive positions in declining markets.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Representative Sampling Risk</i></b> &#8212; When an ETF deviates from a full replication indexing strategy to utilize a representative sampling strategy, the ETF is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the ETF may not have an investment profile similar to those of its index.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Shares of an ETF May Trade at Prices Other Than Net Asset Value</i></b> &#8212; The trading prices of an ETF&#8217;s shares fluctuate continuously throughout trading hours based on market supply and demand rather than net asset value. The trading prices of an ETF&#8217;s shares may deviate significantly from net asset value during periods of market volatility. Any of these factors may lead to an ETF&#8217;s shares trading at a premium or discount to net asset value. However, because shares can be created and redeemed in Creation Units, which are aggregated blocks of shares that authorized participants who have entered into agreements with the ETF&#8217;s distributor can purchase or redeem directly from the ETF, at net asset value, large discounts or premiums to the net asset value of an ETF are not likely to be sustained over the long term. If a shareholder purchases at a time when the market price is at a premium to the net asset value or sells at a time when the market price is at a discount to the net asset value, the shareholder may sustain losses.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Tracking Error Risk</i></b> &#8212; Imperfect correlation between an ETF&#8217;s portfolio securities and those in its index, rounding of prices, the timing of cash flows, the ETF&#8217;s size, changes to the index and regulatory requirements may cause tracking error, which is the divergence of an ETF&#8217;s performance from that of its underlying index. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because an ETF incurs fees and expenses while its underlying index does not.</font></li></ul> <font style="FONT-FAMILY: ARIAL" size="2"><b>Other Principal Risks of Investing in the Fund</b></font><br/> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Collateralized Debt Obligations Risk</i></b> &#8212; The pool of high yield securities underlying collateralized debt obligations is typically separated into groupings called tranches representing different degrees of credit quality. The higher quality tranches have greater degrees of protection and pay lower interest rates. The lower tranches, with greater risk, pay higher interest rates.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Concentration Risk</i></b> &#8212; To the extent that the Fund&#8217;s portfolio reflects concentration in the securities of issuers in a particular region, market, industry, group of industries, country, group of countries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that region, market, industry, group of industries, country, group of countries, sector or asset class.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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&#8217;s credit rating or the market&#8217;s perception of the issuer&#8217;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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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 (&#8220;LIBOR&#8221;) 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Counterparty Risk</i></b> &#8212; The counterparty to an over-the-counter derivatives contract or a borrower of the Fund&#8217;s securities may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise to honor its obligations.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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. The degree of credit risk depends on the issuer&#8217;s financial condition and on the terms of the securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Debt Securities Risk</i></b> &#8212; Debt securities, such as bonds, involve credit risk. Debt securities are also subject to interest rate risk.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Derivatives Risk</i></b> &#8212; The Fund&#8217;s use of derivatives may reduce the Fund&#8217;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&#8217;s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Dollar Rolls Risk</i></b> &#8212; Dollar rolls involve the risk that the market value of the securities that the Fund is committed to buy may decline below the price of the securities the Fund has sold. These transactions may involve leverage.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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&#8217;s financial condition and overall market and economic conditions.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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></li></ul><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="FONT-FAMILY: ARIAL" size="2">The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;">&nbsp;</p></td></tr></table></div><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="FONT-FAMILY: ARIAL" size="2">Changes in foreign currency exchange rates can affect the value of the Fund&#8217;s portfolio.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;">&nbsp;</p></td></tr></table></div><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="FONT-FAMILY: ARIAL" size="2">The economies of certain foreign markets may not compare favorably with the economy of the United States with respect to such issues as growth of gross national product, reinvestment of capital, resources and balance of payments position.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;">&nbsp;</p></td></tr></table></div><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="FONT-FAMILY: ARIAL" size="2">The governments of certain countries may prohibit or impose substantial restrictions on foreign investments in their capital markets or in certain industries.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;">&nbsp;</p></td></tr></table></div><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="FONT-FAMILY: ARIAL" size="2">Many foreign governments do not supervise and regulate stock exchanges, brokers and the sale of securities to the same extent as does the United States and may not have laws to protect investors that are comparable to U.S. securities laws.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;">&nbsp;</p></td></tr></table></div><div><table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr><td width="1.5%"><font class="_mt" size="1">&nbsp;</font></td> <td valign="top" width="3%" align="left"><font style="font-family: ARIAL;" class="_mt" size="2">&#8212;</font></td> <td valign="top" align="left"> <p style="margin-top: 0px; margin-bottom: 0px;"><font style="FONT-FAMILY: ARIAL" size="2">Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.</font></p> <p style="margin-top: 0px; margin-bottom: 0px;">&nbsp;</p></td></tr></table></div><ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>High Portfolio Turnover Risk</i></b> &#8212; High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund and potentially higher capital gains or losses for shareholders. The effects of higher than normal portfolio turnover may adversely affect Fund performance.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Indexed and Inverse Securities Risk</i></b> &#8212; Certain indexed and inverse securities have greater sensitivity to changes in interest rates or index levels than other securities, and the Fund&#8217;s investment in such instruments may decline significantly in value if interest rates or index levels move in a way Fund management does not anticipate.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Inflation Indexed Bonds Risk</i></b> &#8212; The principal value of an investment is not protected or otherwise guaranteed by virtue of the Fund&#8217;s investments in inflation-indexed bonds.</font></li></ul><font style="FONT-FAMILY: ARIAL" size="2">Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced.</font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value.</font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Short-term increases in inflation may lead to a decline in value. Any increase in the principal amount of an inflation-indexed bond will be considered taxable ordinary income, even though investors do not receive their principal until maturity.</font><br/><br/><font style="FONT-FAMILY: ARIAL" size="2">Periodic adjustments for inflation to the principal amount of an inflation-indexed bond may give rise to original issue discount, which will be includable in the Fund&#8217;s gross income. Due to original issue discount, the Fund may be required to make annual distributions to shareholders that exceed the cash received, which may cause the Fund to liquidate certain investments when it is not advantageous to do so. Also, if the principal value of an inflation-indexed bond is adjusted downward due to deflation, amounts previously distributed in the taxable year may be characterized in some circumstances as a return of capital.</font><ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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. In general, the market price of debt securities with longer maturities will go up or down more in response to changes in interest rates than the market price of shorter term securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Investment Style Risk</i></b> &#8212; Under certain market conditions, growth investments have performed better during the later stages of economic expansion and value investments have performed better during periods of economic recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other funds that use different investment styles.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Leverage Risk</i></b> &#8212; Some transactions may give rise to a form of economic leverage. These transactions may include, among others, derivatives, and may expose the Fund to greater risk and increase its costs. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet any required asset segregation requirements. Increases and decreases in the value of the Fund&#8217;s portfolio will be magnified when the Fund uses leverage.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Liquidity Risk</i></b> &#8212; Liquidity risk exists when particular investments are difficult to purchase or sell. The Fund&#8217;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&#8217;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 Fund, due to limitations on illiquid investments, may be subject to purchase and sale restrictions.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Mid-Cap Securities Risk</i></b> &#8212; The securities of mid-cap companies generally trade in lower volumes and are generally subject to greater and less predictable price changes than the securities of larger capitalization companies.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Mortgage- and Asset-Backed Securities Risks</i></b> &#8212; Mortgage- and asset-backed securities represent interests in &#8220;pools&#8221; of mortgages or other assets, including consumer loans or receivables held in trust. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risks. These securities also are subject to risk of default on the underlying mortgage or asset, particularly during periods of economic downturn. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Municipal Securities Risks</i></b> &#8212; Municipal securities risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers of municipal securities, and the possibility of future legislative changes which could affect the market for and value of municipal securities. These risks include:</font></li></ul> <blockquote><font style="FONT-FAMILY: ARIAL" size="2"><i>General Obligation Bonds Risks</i> &#8212; Timely payments depend on the issuer&#8217;s credit quality, ability to raise tax revenues and ability to maintain an adequate tax base.</font></blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="2"><i>Revenue Bonds Risks</i> &#8212; These payments depend on the money earned by the particular facility or class of facilities, or the amount of revenues derived from another source.</font></blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="2"><i>Private Activity Bonds Risks</i> &#8212; Municipalities and other public authorities issue private activity bonds to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its faith, credit and taxing power for repayment.</font></blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="2"><i>Moral Obligation Bonds Risks</i> &#8212; Moral obligation bonds are generally issued by special purpose public authorities of a state or municipality. If the issuer is unable to meet its obligations, repayment of these bonds becomes a moral commitment, but not a legal obligation, of the state or municipality.</font></blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="2"><i>Municipal Notes Risks</i> &#8212; Municipal notes are shorter term municipal debt obligations. If there is a shortfall in the anticipated proceeds, the notes may not be fully repaid and the Fund may lose money.</font></blockquote> <blockquote><font style="FONT-FAMILY: ARIAL" size="2"><i>Municipal Lease Obligations Risks</i> &#8212; In a municipal lease obligation, the issuer agrees to make payments when due on the lease obligation. Although the issuer does not pledge its unlimited taxing power for payment of the lease obligation, the lease obligation is secured by the leased property.</font></blockquote> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Real Estate Related Securities Risks</i></b> &#8212; The main risk of real estate related securities is that the value of the underlying real estate may go down. Many factors may affect real estate values. These factors include both the general and local economies, the amount of new construction in a particular area, the laws and regulations (including zoning and tax laws) affecting real estate and the costs of owning, maintaining and improving real estate. The availability of mortgages and changes in interest rates may also affect real estate values. If the Fund&#8217;s real estate related investments are concentrated in one geographic area or in one property type, the Fund will be particularly subject to the risks associated with that area or property type.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>REIT Investment Risk</i></b> &#8212; Investments in REITs involve unique risks. REITs may have limited financial resources, may trade less frequently and in limited volume and may be more volatile than other securities.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Repurchase Agreements and Purchase and Sale Contracts Risks</i></b> &#8212; If the other party to a repurchase agreement or purchase and sale contract defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. If the seller fails to repurchase the security in either situation and the market value of the security declines, the Fund may lose money.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Reverse Repurchase Agreements Risk</i></b> &#8212; Reverse repurchase agreements involve the risk that the other party to the reverse repurchase agreement may fail to return the securities in a timely manner or at all. The Fund could lose money if it is unable to recover the securities and the value of the collateral held by the Fund, including the value of the investments made with cash collateral, is less than the value of securities. These events could also trigger adverse tax consequences to the Fund.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Risks of Loan Assignments and Participations</i></b> &#8212; As the purchaser of an assignment, the Fund typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation; however, the Fund may not be able unilaterally to enforce all rights and remedies under the loan and with regard to any associated collateral. Because assignments may be arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. In addition, if the loan is foreclosed, the Fund could become part owner of any collateral and could bear the costs and liabilities of owning and disposing of the collateral. The Fund may be required to pass along to a purchaser that buys a loan from the Fund by way of assignment a portion of any fees to which the Fund is entitled under the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower, and the Fund may not directly benefit from any collateral supporting the loan in which it has purchased the participation. As a result, the Fund will be subject to the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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&#8217;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&#8217;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></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Small Cap and Emerging Growth Securities Risks</i></b> &#8212; Small cap or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a more limited management group than larger capitalized companies.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Sovereign Debt Risk</i></b> &#8212; Sovereign debt instruments are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity&#8217;s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" 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.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Supranational Entities Risk</i></b> &#8212; The Fund may invest in obligations issued or guaranteed by the International Bank for Reconstruction and Development (the World Bank). If one or more stockholders of the World Bank fail to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities, and the Fund may lose money on such investments.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Tender Option Bonds and Related Securities Risk</i></b> &#8212; Investments in tender option bonds, residual interest tender option bonds and inverse floaters expose the Fund to the same risks as investments in derivatives, as well as risks associated with leverage, described above, especially the risk of increased volatility. An investment in these securities may be subject to the risk of loss of principal. Residual interest tender option bonds and inverse floaters generally will underperform the market for fixed rate municipal securities in a rising interest rate environment.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>U.S. Government Mortgage-Related Securities Risk</i></b> &#8212; There are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. Mortgage-related securities guaranteed by the Government National Mortgage Association (&#8220;Ginnie Mae&#8221;) are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. Ginnie Mae securities also are supported by the right of Ginnie Mae to borrow funds from the U.S. Treasury to make payments under its guarantee. Mortgage-related securities issued by The Federal National Mortgage Association (&#8220;Fannie Mae&#8221;) or The Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) are solely the obligations of Fannie Mae or Freddie Mac, as the case may be, and are not backed by or entitled to the full faith and credit of the United States but are supported by the right of the issuer to borrow from the U.S. Treasury.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>U.S. Government Obligations Risk</i></b> &#8212; Certain securities in which the Fund may invest, including securities issued by certain U.S. Government agencies and U.S. Government sponsored enterprises, are not guaranteed by the U.S. Government or supported by the full faith and credit of the United States.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Variable and Floating Rate Instrument Risk</i></b> &#8212; The absence of an active market for these securities could make it difficult for the Fund to dispose of them if the issuer defaults.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Warrants Risk</i></b> &#8212; If the price of the underlying stock does not rise above the exercise price before the warrant expires, the warrant generally expires without any value and the Fund loses any amount it paid for the warrant. Thus, investments in warrants may involve substantially more risk than investments in common stock.</font></li></ul> <ul type="square"><li style="margin-left:-20px"><font style="FONT-FAMILY: ARIAL" size="2"><b><i>Zero Coupon Securities Risk</i></b> &#8212; While interest payments are not made on such securities, holders of such securities are deemed to have received income (&#8220;phantom income&#8221;) annually, notwithstanding that cash may not be received currently. Some of these securities may be subject to substantially greater price fluctuations during periods of changing market interest rates than are comparable securities that pay interest currently. Longer term zero coupon bonds are more exposed to interest rate risk than shorter term zero coupon bonds.</font></li></ul> <center><font size="2" face="Arial, Helvetica, sans-serif"><b>Service Shares<br>ANNUAL TOTAL RETURNS<sup>1</sup><br>BlackRock Managed Volatility Portfolio<br>As of 12/31</b></font></center> <font style="FONT-FAMILY: ARIAL" size="2"><b><i>Performance Information</i></b></font> <font style="FONT-FAMILY: ARIAL" size="2">Effective May 15, 2012, Managed Volatility Portfolio changed its investment strategy to invest a significant portion of its assets in ETFs and, to a lesser extent, in mutual funds and directly in securities. Performance for the periods shown below is based on the investment strategy utilized by the Fund prior to May 15, 2012, which focused on investing directly in securities.<br/><br/>On January 31, 2005, the Fund reorganized with the State Street Research Asset Allocation Fund (the &#8220;SSR Fund&#8221;), which had investment objectives and strategies similar to the Fund. For periods prior to January 31, 2005, the chart and table show performance information for the SSR Fund. The information shows you how the Fund&#8217;s performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Fund&#8217;s performance to that of the Standard &amp; Poor&#8217;s (&#8220;S&amp;P&#8221;) 500<sup>&#174;</sup> Index, the Barclays U.S. Aggregate Bond Index, the MSCI All Country World Index (the &#8220;MSCI ACWI Index&#8221;), the Citigroup World Government Bond Index (hedged into USD) (the &#8220;Citigroup WGBI (hedged into USD)&#8221;) and three customized weighted indices comprised of the returns of the S&amp;P 500<sup>&#174;</sup> Index, the MSCI ACWI Index, the Barclays U.S. Aggregate Bond Index and the Citigroup WGBI (hedged into USD) in the percentages and combinations set forth in the table. Effective October 1, 2011, the Fund changed one of the components making up the customized weighted index from the S&amp;P 500<sup>&#174;</sup> Index to the MSCI ACWI Index. Fund management believes that the MSCI ACWI Index better reflects the Fund&#8217;s increasing exposure to non-U.S. equities. Effective May 15, 2012, the Fund changed one of the components making up the customized weighted index from the Barclays U.S. Aggregate Bond Index to the Citigroup WGBI (hedged into USD). Fund management believes that the Citigroup WGBI (hedged into USD) better reflects the Fund&#8217;s increasing global exposure. As with all such investments, past performance (before and after taxes) is not an indication of future results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the Fund&#8217;s returns would have been lower. Updated information on the Fund&#8217;s results can be obtained by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052.</font> <font style="FONT-FAMILY: arial" size="2">During the ten-year period shown in the bar chart, the highest return for a quarter was 13.78% (quarter ended September 30, 2009) and the lowest return for a quarter was &#8211;13.12% (quarter ended December 31, 2008). The year-to-date return as of September 30, 2012 was 9.13%.</font> <center><font style="FONT-FAMILY: ARIAL" size="2"><b>Investor A Shares<br/> ANNUAL TOTAL RETURNS<sup>1</sup><br/>BlackRock Managed Volatility Portfolio<br/> As of 12/31</b></font></center> <font style="FONT-SIZE: 9pt" face="Arial, Helvetica, sans-serif"><b>As of 12/31/11<br>Average Annual Total Returns</b></font> <font style="FONT-FAMILY: arial" size="2">After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">During the ten-year period shown in the bar chart, the highest return for a quarter was 13.66% (quarter ended September 30, 2009) and the lowest return for a quarter was &#8211;13.17% (quarter ended December 31, 2008). The year-to-date return as of September 30, 2012 was 9.14%.</font> <font style="FONT-FAMILY: ARIAL" size="2"><b>As of 12/31/11<br/>Average Annual Total Returns</b></font> <font style="FONT-FAMILY: ARIAL" size="2">After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Investor A Shares only, and the after-tax returns for Investor B, Investor C and Institutional Shares will vary.</font> <font style="FONT-FAMILY: arial" size="1">Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. </font> <font style="FONT-FAMILY: arial" size="1">The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund&#8217;s most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.</font> <font style="FONT-FAMILY: arial" size="1">June 1, 2013</font> 4.01 <font style="FONT-FAMILY: arial" size="2">You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments.</font> <font style="FONT-FAMILY: arial" size="2">The information shows you how the Fund&#8217;s performance has varied year by year and provides some indication of the risks of investing in the Fund.</font> (800) 882-0052 <font style="FONT-FAMILY: arial" size="2">http://www.blackrock.com/funds</font> <font style="FONT-FAMILY: arial" size="2">As with all such investments, past performance (before and after taxes) is not an indication of future results.</font> <font style="FONT-FAMILY: arial" size="2">Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown.</font> <font style="FONT-FAMILY: arial" size="2">However, the table includes all applicable fees and sales charges.</font> <font style="FONT-FAMILY: arial" size="2">After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> <font style="FONT-FAMILY: arial" size="2">Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: arial" size="2">year-to-date return</font> 2012-09-30 0.0913 <font style="FONT-FAMILY: arial" size="2">highest return</font> 2009-09-30 0.1378 <font style="FONT-FAMILY: arial" size="2">lowest return</font> 2008-12-31 -0.1312 <font style="FONT-FAMILY: ARIAL" size="1">June 1, 2013</font> 4.01 <font style="FONT-FAMILY: ARIAL" size="2">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (&#8220;BlackRock&#8221;). More information about these and other discounts is available from your financial professional and in the &#8220;Details About the Share Classes&#8221; section on page 61 of the Fund&#8217;s prospectus and in the &#8220;Purchase of Shares&#8221; section on page II-73 of the Fund&#8217;s statement of additional information.</font> 25000 <font style="FONT-FAMILY: ARIAL" size="1">Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. </font> <font style="FONT-FAMILY: ARIAL" size="1">The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund&#8217;s most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.</font> <font style="FONT-FAMILY: ARIAL" size="2">You would pay the following expenses if you did not redeem your shares:</font> <font style="FONT-FAMILY: ARIAL" size="2">The information shows you how the Fund's performance has varied year by year and provides some indication of the risks of investing in the Fund.</font> (800) 882-0052 <font style="FONT-FAMILY: ARIAL" size="2">http://www.blackrock.com/funds</font> <font style="FONT-FAMILY: ARIAL" size="2"><font size="2" face="Arial, Helvetica, sans-serif">As with all such investments, past performance (before and after taxes) is not an indication of future results.</font> <font style="FONT-FAMILY: ARIAL" size="2">Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown.</font> <font style="FONT-FAMILY: ARIAL" size="2">However, the table includes all applicable fees and sales charges.</font> <font style="FONT-FAMILY: ARIAL" size="2">After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> <font style="FONT-FAMILY: ARIAL" size="2">Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.</font> <font style="FONT-FAMILY: ARIAL" size="2">After-tax returns are shown for Investor A Shares only, and the after-tax returns for Investor B, Investor C and Institutional Shares will vary.</font> <font style="FONT-FAMILY: ARIAL" size="2">year-to-date return</font> 2012-09-30 0.0914 <font style="FONT-FAMILY: ARIAL" size="2">highest return</font> 2009-09-30 0.1366 <font style="FONT-FAMILY: ARIAL" size="2">lowest return</font> 2008-12-31 -0.1317 <div style="display:none">~ http://www.blackrock.com/role/ScheduleAverageAnnualTotalReturnsTransposedBLACKROCKMANAGEDVOLATILITYPORTFOLIO column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" size="2">You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments.</font> <font style="FONT-FAMILY: ARIAL" size="1">A contingent deferred sales charge (&#8220;CDSC&#8221;) 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 $1,000,000 or more.</font> Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. The Management Fee payable by the Fund is based on assets estimated to be attributable to the Fund's direct investments in fixed-income and equity securities and instruments, including exchange-traded funds ("ETFs") advised by BlackRock Advisors, LLC ("BlackRock") or other investment advisers, other investments and cash and cash equivalents (including money market funds). BlackRock has contractually agreed to waive the Management Fee on assets estimated to be attributed to the Fund's investments in other equity, fixed-income and money market mutual funds managed by BlackRock or its affiliates (the "mutual funds"). As described in the "Management of the Fund" section of the Fund's prospectus on pages 69-73, BlackRock Advisors, LLC ("BlackRock") has contractually agreed to waive 0.05% of its Management Fee until June 1, 2013. In addition, 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 1.17% of average daily net assets until June 1, 2013. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund. The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund's most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses. A portion of the Fund's total return was attributable to proceeds received in the fiscal year ended September 30, 2009 in settlement of litigation. 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 $1,000,000 or more. The CDSC is 4.50% if shares are redeemed in less than one year. The CDSC for Investor B Shares decreases for redemptions made in subsequent years. After six years there is no CDSC on Investor B Shares. (See the section "Details About the Share Classes - Investor B Shares" in the Fund's prospectus for the complete schedule of CDSCs.) There is no CDSC on Investor C Shares after one year. Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. The Management Fee payable by the Fund is based on assets estimated to be attributable to the Fund's direct investments in fixed-income and equity securities and instruments, including exchange-traded funds ("ETFs") advised by BlackRock or other investment advisers, other investments and cash and cash equivalents (including money market funds). BlackRock has contractually agreed to waive the Management Fee on assets estimated to be attributed to the Fund's investments in other equity, fixed-income and money market mutual funds managed by BlackRock or its affiliates (the "mutual funds"). The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund's most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses. As described in the "Management of the Fund" section of the Fund's prospectus on pages 76-80, BlackRock has contractually agreed to waive 0.05% of its Management Fee until June 1, 2013. In addition, 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) as a percentage of average daily net assets to 1.37% (for Investor A Shares), 2.14% (for Investor B and Investor C Shares) and 0.89% (for Institutional Shares) until June 1, 2013. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested Trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund. EX-101.SCH 3 brf7-20121106.xsd XBRL TAXONOMY EXTENSION SCHEMA 000000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - BLACKROCK MANAGED VOLATILITY PORTFOLIO link:presentationLink link:calculationLink link:definitionLink 000012 - Schedule - Shareholder Fees {- BLACKROCK MANAGED VOLATILITY PORTFOLIO} link:presentationLink link:calculationLink link:definitionLink 000013 - Schedule - Annual Fund Operating Expenses {- BLACKROCK MANAGED VOLATILITY PORTFOLIO} link:presentationLink link:calculationLink link:definitionLink 000014 - Schedule - Expense Example {Transposed} {- BLACKROCK MANAGED VOLATILITY PORTFOLIO} link:presentationLink link:calculationLink link:definitionLink 000015 - Schedule - Expense Example, No Redemption {Transposed} {- BLACKROCK MANAGED VOLATILITY PORTFOLIO} link:presentationLink link:calculationLink link:definitionLink 000016 - Schedule - Annual Total Returns - BLACKROCK MANAGED VOLATILITY PORTFOLIO [BarChart] link:presentationLink link:calculationLink link:definitionLink 000017 - Schedule - Average Annual Total Returns {Transposed} {- BLACKROCK MANAGED VOLATILITY PORTFOLIO} link:presentationLink link:calculationLink link:definitionLink 000018 - Document - Risk/Return Detail {Unlabeled} - BLACKROCK MANAGED VOLATILITY PORTFOLIO link:presentationLink link:calculationLink link:definitionLink 000019 - Disclosure - Risk/Return Detail Data {Elements} - BLACKROCK MANAGED VOLATILITY PORTFOLIO link:presentationLink link:calculationLink link:definitionLink 000021 - Document - Risk/Return Summary {Unlabeled} - BLACKROCK MANAGED VOLATILITY PORTFOLIO Service Shares link:presentationLink link:calculationLink link:definitionLink 000022 - Schedule - Shareholder Fees {- BLACKROCK MANAGED VOLATILITY PORTFOLIO Services Shares} link:presentationLink link:calculationLink link:definitionLink 000023 - Schedule - Annual Fund Operating Expenses {- BLACKROCK MANAGED VOLATILITY PORTFOLIO Services Shares} link:presentationLink link:calculationLink link:definitionLink 000024 - Schedule - Expense Example {Transposed} {- BLACKROCK MANAGED VOLATILITY PORTFOLIO Services Shares} link:presentationLink link:calculationLink link:definitionLink 000025 - Schedule - Expense Example, No Redemption {Transposed} {- BLACKROCK MANAGED VOLATILITY PORTFOLIO Services Shares} link:presentationLink link:calculationLink link:definitionLink 000026 - Schedule - Annual Total Returns - BLACKROCK MANAGED VOLATILITY PORTFOLIO Services Shares [BarChart] link:presentationLink link:calculationLink link:definitionLink 000027 - Schedule - Average Annual Total Returns {Transposed} {- BLACKROCK MANAGED VOLATILITY PORTFOLIO Services Shares} link:presentationLink link:calculationLink link:definitionLink 000028 - Document - Risk/Return Detail {Unlabeled} - BLACKROCK MANAGED VOLATILITY PORTFOLIO Services Shares link:presentationLink link:calculationLink link:definitionLink 000029 - Disclosure - Risk/Return Detail Data {Elements} - BLACKROCK MANAGED VOLATILITY PORTFOLIO Service Shares link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 brf7-20121106_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 5 brf7-20121106_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 brf7-20121106_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 7 brf7-20121106_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE GRAPHIC 8 g443179g54s39.jpg GRAPHIC begin 644 g443179g54s39.jpg M_]C_X``02D9)1@`!``$`>`!X``#__@`?3$5!1"!496-H;F]L;V=I97,@26YC M+B!6,2XP,0#_VP"$``("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(" M`@("`@,#`@(#`@("`P0#`P,#!`0$`@,$!`0$!`,$!`,!`@("`@("`@("`@," M`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`__$`:(```$%`0$!`0$!```````````!`@,$!08'"`D*"P$``P$! M`0$!`0$!`0````````$"`P0%!@<("0H+$``"`0,#`@0#!04$!````7T!`@,` M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I M*C0U-CH.$A8:' MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7 MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1``(!`@0$`P0'!00$``$"=P`!`@,1 M!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)BH*#A(6& MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76 MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_``!$(`"D`D0,!$0`"$0$#$0'_V@`, M`P$``A$#$0`_`/?_`(]?M.?&_P"-_P"U.G[%?[+'B2V^'BZ#%=O\6_C$MC!K M.J:'%8VUM<:Y#H=M.Z+9P:4;NVTUY(I$O+K5M0CMHKC3HK5[FY/T#]#ZGTG] MA3X96FD16NN_$G]H_P`7>)/(077C?6?VA?BK;^(;F]1%7^T!#H_B6STR*974 M&-38.J!$5M^TEC8-CX+\/HKKP/=^ M)+NV77)YM,M!::KX<^(6MZ586D_C#5+2"XLIHY]2EGBGCO6FB@BF%P%-@V/W M*H`*`/ESQ!X>\:V_[4/@_P`4Z+X9\1ZQX9O?#":/XGU[5Y]*/A#POIMEIWC2 M<3^$)[3QW;ZG9>(;C6KSP_:ZEIFH>%-1M-1AOK&[M+R";0IFB-@V//-"\(>( M[?PEHJ:Q\./'GB;3K3X\?M@:SJ?AC0[NV\,:S-8^*/CO\6=7\%:THU[Q/X;2 M73=0L-0L;VQNQ>>6\.J6E[$WD2+.#;R#;R/0-+T[XK>&/%WP`U+6=&\6>*M. MTKX-?$SPCX__`+(U[2-473/&.O\`B3X$WWA.[\0OK&MZ8?$D]GH_AKQO;MK5 MO;W,Q9+N01Q_VILE-@V-;PUX9\0P?&GQYJ6M^'M6E\/ZS/=0Z5J\NG63:9_9 M\OAOP];M'_:X^(LTXMWN;34X/L@\)6I$LF[[04_>SFP;'1_!/P#K?@?3?$"^ M)-:\2:[?-KM]H'AV;Q-JIU>\T[X<>$[V\TGP!IRWIGEDU">31A_:5YJE_)-J M=_>:O<37\SND4=N;!L\* M>(M'>[\6^,=-\,6\7V6:&U\4ZOX3#W&K:C#J$,'POU9-.TQDUI)[\V#8M>"_ M^%B1>/[_`,,ZUX/\16.A:!X\^(GBBV\=7.LZ/=>&_$?AOQ0C:AX:T_3[>'57 MU-+ZWN_$=]8/8W-A'':CPA)-Y@CO;$3&P;'`_"CX?>*QX"^,O@OQ+X0\3V&G M2:K=R>#-1\6:A:6WCCQ5?2Z1_:$^I:W?>'?B)X@L]0NX/$DHCAUVWFT$7JJ( MWTN*.P2ZU`V^0;?([OQ;X+GTO7?V4K+P[H6I-IGA;XSZYJ^O-:QZCJD.A6=Y M^S;^T'I$FJ:Q?.UP;&QE\2:[I=@+FYE6(W>KV=LK>;:4AMK>SM?MQL&Q],>)KOQ!IGQ#\"WUAX;\1 MZ[H$WAWQIHFL7&B3:,+/1M1U37/AU-HU_K-KJNN6,LUNMEIWB!A+9P7LL20S MKL!G19C8-CA9H_'5QX?^.?A)/#'BR#4M4A^(E]X,\1R7^AKI&HG5='AMM`T_ M1KJ+Q$VH:?>_;+AC&+FRLHHC:S-YJ_NS*`=E\(_AK=?"_1=>TN[\6ZIXK?7? M%>H>*$%XMS;Z7XHW&E^'HWTN2^%M-J%V?MFKZA*KI' M,D,)L&QZK0!_,!\&OC3I'[)7_!3?X[:O\6H+C1?#_B[QS\6O"&MZM)&TYT+2 M_''CJT\:>&O%,T48:272ITL="GDD0>8EGJCS[&:,Q,;!L?TS>'O$?A_Q9HNG M>(_"NMZ3XC\/ZO:Q7NDZWH6H6FJZ3J-G,H:*YL=0L99(+F!E((>-V'O0!RGC MCX6>#?B'JWP^UOQ18W%UJ7PO\80>.?!]Q;WMQ9FP\06]A>Z8LTZ0,%O+5K._ MN%:WF#1L=C8W1J0?H'Z'AO[6WCR;X8^$;/QU=?`?Q'\9?"OA;2?%>N>+=3\/ M>--$\+-X#TG2[?2;J6^O-/U'5[6]UV&\MH[R3_B76]X;9=$E,HC^T1^8`?*W M[+?[0O@[]JW52?`G[*'C.Q\$Z;K"Z-XK\?ZC\3=*32O#%R^GMJ$2RZ5/KMMJ M6L2LAME\G3;>Y=/M<;R;$RP`.Z_:I^)?AC]EJRN?%6K_`++_`(J\8_#&T31H M;KXB:+\2],L;&VU?6+F6TATB?P[>>(7UJ)TG6!?M1L3;,;J-5EW9``.(^&/Q MLNOBWX$T'XH^!_V$?B;XA^'GB(:NVE:]I'QB\!27MV-#U34M"U#RO#FI^.K# M4E:/6=)O;;$\$!<0F2$2HT9E`/1/@G\>OV2/C/XQN_A'?AE^R3XXN].T?4?#WLM3NOL.G"YNYETZ1(8FD90 MP!^F_P#PI;X9_P#0M?\`E9U__P"6M`'R]^TYKGAO]G+PO)X[MOV(%U'4TN&NMPET^UN4B$3><4RI8` M^>_@I^T3'^T3X5O_`!K\'/V'?'7B_P`,:7X@NO"U]J?_``O'P%X?\C7;'3M* MU:YL?L7BGQCIMW+LT_6]+E\Z.!X6^T[%D+QR+&`0?$;]I;3?@UK/@W2OBW^Q M!\3O`EKXX\1V7A?1==NOB9H^NZ"VJ7ES%`MM+J_A?7-1M(;H1227"6TDZ331 M6L\D*.D$C(`>E_M9?%SP=^R>EMKNO?LP^,?&'PXN9-,T]/B)H/C^"#2X=>U% M+Z5=%OM(EUF75-.=([$[;RYMHK25YXXHIFE81T`3_LE?%CP/^UE;WWB+0OV; MO$O@_P"'=C_:5@?'FK_$G3]1M)/$VFOI3-X:7P_8Z^NLI=/9:G]J%TUD+54M M]K2[YHU<`O\`[6/Q'\'_`+*NFQ>+-3_9K\3^-_ALMKI,>H^/=%^(^GZ9::7X MAU?4M2L8/#D_A_4/$#:U-,L-I97!OHK%K,C5(XO.\V*15`/7_A+X>T7XF_#6 MZ\:>+?@+XD^#=]=I=2Z)X<\3>,FU;6;S1'T6PU#3_$,JZ%KLAT8S7%Y=VW]G MZ@EM?0OICO+`B31%@#\M_P#A.?&W_0X^*?\`PH=6_P#DN@#[O_;9_P"">'@/ M]K-H?&6DZNOP_P#B]IUC#I\/BE;$ZAH_B/3K3<;33/%>F130R2O"K-%;ZG;R M"X@C8))'=PPPP1'Z!^A^(6N?`_\`X*#_`+`-U?\`B;PQ/XOT'PK`\UWJ/BOX M:ZC_`,)E\.;I8[?=-J?B/0+BSF@M8([>Q4&Z\1Z%:A5BC`894$V#8_4+]AG_ M`(*E6?QP\1Z+\'OCGIFE^%?B1K4ALO"GC#1E:S\)>,-2!=K?1+^PN9Y'\.>( M[B)56V*S36=_.KP1"SN);2UO`#]`OVQ/^33_`-I'_LB'Q-_]1#5J`/SG_P"" M)/\`R0[XO?\`95H/_40T.@#Z`_X*S_\`)E7CK_L:?A]_ZEFG4`=3_P`$N/\` MDQ/X&?\`=3?_`%<7Q!H`^,?^"S'POLM#T7X/_M*>%EET+QYX>\<67@J_UW2( MTM;^XCET_4O%/A+5;J^@43+>:+J/AF\CM;@M\G]KA-WR0@`'Z/?`CXPR_'O] MC_PM\5[MX6U;Q/\`"W6T\1M;V\EI;_\`"5Z!::MX;\5FVM969H+0^(]'U-H5 M+./*:,J[J5=@#\H/^"&O_(6_:5_[!_PF_P#2GXBT`?T'4`?'/_!0/_DS/]H/ M_L1G_P#3MI=`'R-_P14_Y-8\??\`9?\`Q3_ZKKX54`?97QEL?AG^T1XTU/\` M95\2'Q+::SX4T'X<_'F77]%_L1;>P-AX[OK;1=+@N+];N6+5)9]`G^U1M8(I MT_5U$5R))CY1^@?H>U?&+X5^%_C;\,?&?PK\96JW/A_QGHL^EW+>6DDUA=*T M=UI6L68D!5-1TW5;>RO[=R/DGLHF[4`?S[_\$]OB?XH_8W_:V\;?LF?%BX2P MT+QIXD7PJ7E8+96'Q#ME0^!_$%E))=!8=)\4:/=6]F,122S/JN@,YB2UER;! ML?IU\2H(OVI?VN_"_P`&60:A\'/V63H_Q7^*T7+:?XB^,&J0S_\`"LO!MXR$ M?:(-)TZ2[UFYMRTD$XFGL[N(X44?H'Z'Z$:O_P`@G4_^P=>_^DTM`'\\%`'[ MP?"WXO\`@KXP6OC.[\%7=U<)X!^(?BKX7^)8KVV%I/9>+/!UQ!;ZQ;"(2N6M MO])MY(9CM\V.9'"@,*`/3G1)$:.15>-U9'1U#(Z,"K*RL"&4J2"",$&@#^8O M_@K!\!/!W[//QE^%WQ7^$EO%X+N?B2WB'7;K1M$CCL[#1?&G@/4?#5V?$FBV ML0$>F?;3XBT^5K:&-(5N=-FF09N753;RL&WE8_=O]K626;]D']H66?(FE^`O MQ%DFRNPB5_!6IM)E,#8=Y/&!CI0!^>7_``1)_P"2'?%[_LJT'_J(:'0!]`?\ M%9_^3*O'7_8T_#[_`-2S3J`.I_X)-_\%DO$%GI M/[)VEZ/,&:[\4?%CPGIUDB,@,?\`9^D^)M#?BAX@MX)"I,M7T6Z.QF&R[T MB[LKQ.<^7=Q[@K;E4`^$/^"&O_(6_:5_[!_PF_\`2GXBT`?T'4`?'/\`P4#_ M`.3,_P!H/_L1G_\`3MI=`'YN_P#!)KX&Z%\3/V=/&FNZGXY^-/AFXM/C5XCT MA+#X&WMH6J?`']L+XR^)-.U'X@>+O`GQ"^$?A34K;QOX^UJY\4ZK_PEB>* M+VQU+PM>^*;[_2M6NK/3-(T^[B:[+RK:7]O&TDGD[B;!L?HW0!^#'_!:;X1Z M#IFF?"G]H;1Y9=)\:KXFM_AQJ<]CFWEU*T72]:\4>'M4:ZA=9(=1TFXT:_AC ME7YV34HQN`M(Q0!^BG[`7P^MO"'[-?@CQ==ZG>^(?&OQLL[?XU?$3Q5JC>9J MFO>*O']E:ZN[74QRS1V6GRV5D@SM8VLDP5&N&4`'V%J__()U/_L'7O\`Z32T M`?SP4`9W[./[3/Q&_9R_:G_:MO+KX;?$+QW^SSXA^/WQ(M_B!K?A#PKKNO6_ MP^\26WC+Q$=/\1QW-G;/8)*VGR>7?Z?--!/<6D5O<0L[Z?';W9L&Q^N+?A!XYTCQMX<\;>/?B-# MJ?A:UOO`7C!=)O[1/"]K;RM<>((]&;3M):.32[@$:AB>"/%6J:7%H]MKG]HS7ESXDM- M*?2HW6+394-JMX]T'FA)@$;F10#F_P!@[]JSX3?!7]E/X5?"WQ_!\3=-\>^& MSXX34O#UA\&OBMK4HFUOXD>,-?TFVM;[2?"$]E=3W.FZMI[J([DA7N!'(4=' M"FP;'-?%#X/_`!N_X*3_`!@\$ZCXK\">,/@3^R?\-I[U].'CNV;P]\1?'UQ> MS6_]LZC;>#Y9>NXO8M/L[*SN;V+R+*S>XNX)[J>\ELE/T#]#]+?C=\0OAU M^S[\'3::K9ZQIOAZ30KCP#X0T;PCX2\0^)Y([B+POJ*:+I$.G>&M-O'TZS6S MTTPII7]O M%!XF\.V]UJ6K:C]C2Q58;18H8+JZN!=1W$,"2@'U+_P4*^)WAOP]^R_XR^%E MQ;>*-1\$='\/^#_`!-X@CO);74=$2Z^VZII&ESV.C")&:3%_`=(MKLWGA_PG>V\3-?Z%J!?^$1TO0_$&F^(+N6'4=3T7 M3K^>_OO[*BT_R;-#&;>_NC+,NT0S@'[54`?A9_P5W^)N@_$CP-H'P5\#Z3XW M\0^/?!'Q7L=<\2VEAX`\8MI%AI]OX-\169>#Q$^BKINJ.T_B"P`6PN;K;B82 M%&B*D_0/T/O#]@OXP^$/&GP(^&'PWTR'Q18>,OA;\*?`6A>,M*\0^#?%7AN* MPOM.TB#19%LM3US2+6RUE6NM.F;.GW%SL1HS)LWKD_0/T/M/5@3I6I@`DG3[ MP`#DDFVD```[T`?S\?\`".>(?^@%K/\`X*[W_P",4`?N+\*O^/#QA_V4+Q3_ M`.CK:@#Q2Y_Y+6OUD_G-0!]>T`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4 %`%`'_]D_ ` end XML 9 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 10 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BLACKROCK FUNDS
Prospectus Date rr_ProspectusDate May 15, 2012
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Overview
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The investment objective of BlackRock Managed Volatility Portfolio, formerly BlackRock Asset Allocation Portfolio, (“Managed Volatility Portfolio” or the “Fund”), a series of BlackRock FundsSM (the “Trust”), is to seek total return.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of Managed Volatility Portfolio. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (“BlackRock”). More information about these and other discounts is available from your financial professional and in the “Details About the Share Classes” section on page 61 of the Fund’s prospectus and in the “Purchase of Shares” section on page II-73 of the Fund’s statement of additional information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination June 1, 2013
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 401% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 401.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock 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 $1,000,000 or more.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (“BlackRock”). More information about these and other discounts is available from your financial professional and in the “Details About the Share Classes” section on page 61 of the Fund’s prospectus and in the “Purchase of Shares” section on page II-73 of the Fund’s statement of additional information.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 25,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund’s most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption You would pay the following expenses if you did not redeem your shares:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Managed Volatility Portfolio uses an asset allocation strategy, investing varying percentages of its portfolio in three major categories: stocks, bonds and money market instruments. The Fund has wide flexibility in the relative weightings given to each category.

The Fund may also invest a significant portion of its assets in affiliated and unaffiliated ETFs and mutual funds. See “Information About the ETFs and Mutual Funds.”

With respect to its equity investments, the Fund may invest in ETFs, mutual funds or individual equity securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts. The Fund, the ETFs and the mutual funds may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund, the ETFs and the mutual funds may invest in securities of companies of any market capitalization.

With respect to its fixed-income investments, the Fund may invest in ETFs, mutual funds or individual fixed-income securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations, asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S. governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund, the ETFs and the mutual funds may also invest a significant portion of their assets in non-investment grade bonds (junk bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund, the ETFs and the mutual funds may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis.

With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements. The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates.

The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, indexed and inverse floating rate securities, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S. currencies. The ETFs and the mutual funds may, to varying degrees, also invest in derivatives.

The Fund may invest in U.S. and non-U.S. real estate investment trusts (“REITs”), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).

The Fund incorporates a volatility control process that seeks to reduce risk when portfolio volatility is expected to deviate from the Fund’s targeted total return volatility of 10% over a one-year period. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index over time. Volatility may result in rapid and dramatic price swings. While BlackRock attempts to manage the Fund’s volatility exposure to stabilize performance, there can be no guarantee that the Fund will reach its target volatility. The Fund will adjust its asset allocation in response to periods of high or low expected volatility. The Fund may without limitation allocate assets into cash or short-term fixed-income securities, and away from riskier assets such as equity and high yield fixed-income securities. When volatility decreases, the Fund may move assets out of cash and back into riskier securities. At any given time, the Fund may be invested entirely in equities, fixed-income or cash. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
Risk [Heading] rr_RiskHeading Investment Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Risk is inherent in all investing. The value of your investment in Managed Volatility Portfolio, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The principal risks set forth below are the principal risks of investing in the Fund, the ETFs and/or the mutual funds. In the following discussion, references to the “Fund” shall mean any one or more of the relevant ETFs or mutual funds and the Fund, where applicable.

Principal Risks of the Fund’s Fund of Funds Structure
  • Affiliated Fund Risk — In managing the Fund, BlackRock will have authority to select and substitute ETFs or mutual funds. BlackRock may be subject to potential conflicts of interest in selecting ETFs or mutual funds because the fees paid to BlackRock by some ETFs or mutual funds are higher than the fees paid by other ETFs or mutual funds. However, BlackRock is a fiduciary to the Fund and is legally obligated to act in the Fund’s best interests when selecting ETFs and mutual funds.
  • Allocation Risk — The Fund’s ability to achieve its investment objective depends upon BlackRock’s skill in determining the Fund’s strategic asset class allocation and in selecting the best mix of ETFs, mutual funds and direct investments. There is a risk that BlackRock’s evaluations and assumptions regarding asset classes or ETFs or mutual funds may be incorrect in view of actual market conditions.
  • Investments in ETFs and Other Mutual Funds Risk — The Fund’s net asset value will change with changes in the value of the ETFs, mutual funds and other securities in which it invests. As with other investments, investments in other investment companies, including ETFs, are subject to market risk and, for non-index strategies, selection risk. In addition, if the Fund acquires shares of investment companies, including ETFs, shareholders bear both their proportionate share of expenses in the Fund (including management and advisory fees) and, indirectly, the expenses of the investment companies. If the Fund acquires shares of affiliated mutual funds, shareholders bear both their proportionate share of expenses in the Fund (excluding management and advisory fees) and, indirectly, the expenses of the mutual funds. To the extent the Fund is held by an affiliated fund, the ability of the Fund itself to hold other investment companies may be limited.

    One ETF or mutual fund may buy the same securities that another ETF or mutual fund sells. In addition, the Fund may buy the same securities that an ETF or mutual fund sells, or vice-versa. If this happens, an investor in the Fund would indirectly bear the costs of these transactions without accomplishing the intended investment purpose. Also, an investor in the Fund may receive taxable gains from portfolio transactions by an ETF or mutual fund, as well as taxable gains from transactions in shares of the ETF or mutual fund by the Fund. Certain of the ETFs or mutual funds may hold common portfolio securities, thereby reducing the diversification benefits of the Fund.
Principal ETF-Specific Risks
  • Cash Transaction Risk — Certain ETFs intend to effect creations and redemptions principally for cash, rather than primarily in-kind because of the nature of the ETF’s investments. Investments in such ETFs may be less tax efficient than investments in ETFs that effect creations and redemptions in-kind.
  • Management Risk — If an ETF does not fully replicate the underlying index, it is subject to the risk that the manager’s investment management strategy may not produce the intended results.
  • Passive Investment Risk — ETFs purchased by the Fund are not actively managed and may be affected by a general decline in market segments relating to their respective indices. An ETF typically invests in securities included in, or representative of, its index regardless of their investment merits and does not attempt to take defensive positions in declining markets.
  • Representative Sampling Risk — When an ETF deviates from a full replication indexing strategy to utilize a representative sampling strategy, the ETF is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the ETF may not have an investment profile similar to those of its index.
  • Shares of an ETF May Trade at Prices Other Than Net Asset Value — The trading prices of an ETF’s shares fluctuate continuously throughout trading hours based on market supply and demand rather than net asset value. The trading prices of an ETF’s shares may deviate significantly from net asset value during periods of market volatility. Any of these factors may lead to an ETF’s shares trading at a premium or discount to net asset value. However, because shares can be created and redeemed in Creation Units, which are aggregated blocks of shares that authorized participants who have entered into agreements with the ETF’s distributor can purchase or redeem directly from the ETF, at net asset value, large discounts or premiums to the net asset value of an ETF are not likely to be sustained over the long term. If a shareholder purchases at a time when the market price is at a premium to the net asset value or sells at a time when the market price is at a discount to the net asset value, the shareholder may sustain losses.
  • Tracking Error Risk — Imperfect correlation between an ETF’s portfolio securities and those in its index, rounding of prices, the timing of cash flows, the ETF’s size, changes to the index and regulatory requirements may cause tracking error, which is the divergence of an ETF’s performance from that of its underlying index. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because an ETF incurs fees and expenses while its underlying index does not.
Other Principal Risks of Investing in the Fund
  • Collateralized Debt Obligations Risk — The pool of high yield securities underlying collateralized debt obligations is typically separated into groupings called tranches representing different degrees of credit quality. The higher quality tranches have greater degrees of protection and pay lower interest rates. The lower tranches, with greater risk, pay higher interest rates.
  • Concentration Risk — To the extent that the Fund’s portfolio reflects concentration in the securities of issuers in a particular region, market, industry, group of industries, country, group of countries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that region, market, industry, group of industries, country, group of countries, sector or asset class.
  • Convertible Securities Risk — 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.
  • Corporate Loans Risk — 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.
  • Counterparty Risk — 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.
  • Credit Risk — 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. The degree of credit risk depends on the issuer’s financial condition and on the terms of the securities.
  • Debt Securities Risk — Debt securities, such as bonds, involve credit risk. Debt securities are also subject to interest rate risk.
  • Derivatives Risk — The Fund’s use of derivatives may reduce the Fund’s returns and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A risk of the Fund’s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.
  • Distressed Securities Risk — 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.
  • Dollar Rolls Risk — Dollar rolls involve the risk that the market value of the securities that the Fund is committed to buy may decline below the price of the securities the Fund has sold. These transactions may involve leverage.
  • Emerging Markets Risk — Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop. Investments in emerging markets may be considered speculative. Emerging markets are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, many emerging securities markets have far lower trading volumes and less liquidity than developed markets.
  • Equity Securities Risk — Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Extension Risk — 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.
  • Foreign Securities Risk — Foreign investments often involve special risks not present in U.S. investments that can increase the chances that the Fund will lose money. These risks include:
 

The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.

 

 

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

 

 

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

 

 

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

 

 

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

 

 

Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.

 

  • High Portfolio Turnover Risk — High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund and potentially higher capital gains or losses for shareholders. The effects of higher than normal portfolio turnover may adversely affect Fund performance.
  • Indexed and Inverse Securities Risk — Certain indexed and inverse securities have greater sensitivity to changes in interest rates or index levels than other securities, and the Fund’s investment in such instruments may decline significantly in value if interest rates or index levels move in a way Fund management does not anticipate.
  • Inflation Indexed Bonds Risk — The principal value of an investment is not protected or otherwise guaranteed by virtue of the Fund’s investments in inflation-indexed bonds.
Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced.

Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value.

The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Short-term increases in inflation may lead to a decline in value. Any increase in the principal amount of an inflation-indexed bond will be considered taxable ordinary income, even though investors do not receive their principal until maturity.

Periodic adjustments for inflation to the principal amount of an inflation-indexed bond may give rise to original issue discount, which will be includable in the Fund’s gross income. Due to original issue discount, the Fund may be required to make annual distributions to shareholders that exceed the cash received, which may cause the Fund to liquidate certain investments when it is not advantageous to do so. Also, if the principal value of an inflation-indexed bond is adjusted downward due to deflation, amounts previously distributed in the taxable year may be characterized in some circumstances as a return of capital.
  • Interest Rate Risk — 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. In general, the market price of debt securities with longer maturities will go up or down more in response to changes in interest rates than the market price of shorter term securities.
  • Investment Style Risk — Under certain market conditions, growth investments have performed better during the later stages of economic expansion and value investments have performed better during periods of economic recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other funds that use different investment styles.
  • Junk Bonds Risk — 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.
  • Leverage Risk — Some transactions may give rise to a form of economic leverage. These transactions may include, among others, derivatives, and may expose the Fund to greater risk and increase its costs. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet any required asset segregation requirements. Increases and decreases in the value of the Fund’s portfolio will be magnified when the Fund uses leverage.
  • Liquidity Risk — 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 Fund, due to limitations on illiquid investments, may be subject to purchase and sale restrictions.
  • Market Risk and Selection Risk — Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
  • Mid-Cap Securities Risk — The securities of mid-cap companies generally trade in lower volumes and are generally subject to greater and less predictable price changes than the securities of larger capitalization companies.
  • Mortgage- and Asset-Backed Securities Risks — Mortgage- and asset-backed securities represent interests in “pools” of mortgages or other assets, including consumer loans or receivables held in trust. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risks. These securities also are subject to risk of default on the underlying mortgage or asset, particularly during periods of economic downturn. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities.
  • Municipal Securities Risks — Municipal securities risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers of municipal securities, and the possibility of future legislative changes which could affect the market for and value of municipal securities. These risks include:
General Obligation Bonds Risks — Timely payments depend on the issuer’s credit quality, ability to raise tax revenues and ability to maintain an adequate tax base.
Revenue Bonds Risks — These payments depend on the money earned by the particular facility or class of facilities, or the amount of revenues derived from another source.
Private Activity Bonds Risks — Municipalities and other public authorities issue private activity bonds to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its faith, credit and taxing power for repayment.
Moral Obligation Bonds Risks — Moral obligation bonds are generally issued by special purpose public authorities of a state or municipality. If the issuer is unable to meet its obligations, repayment of these bonds becomes a moral commitment, but not a legal obligation, of the state or municipality.
Municipal Notes Risks — Municipal notes are shorter term municipal debt obligations. If there is a shortfall in the anticipated proceeds, the notes may not be fully repaid and the Fund may lose money.
Municipal Lease Obligations Risks — In a municipal lease obligation, the issuer agrees to make payments when due on the lease obligation. Although the issuer does not pledge its unlimited taxing power for payment of the lease obligation, the lease obligation is secured by the leased property.
  • Preferred Securities Risk — 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.
  • Prepayment Risk — 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.
  • Real Estate Related Securities Risks — The main risk of real estate related securities is that the value of the underlying real estate may go down. Many factors may affect real estate values. These factors include both the general and local economies, the amount of new construction in a particular area, the laws and regulations (including zoning and tax laws) affecting real estate and the costs of owning, maintaining and improving real estate. The availability of mortgages and changes in interest rates may also affect real estate values. If the Fund’s real estate related investments are concentrated in one geographic area or in one property type, the Fund will be particularly subject to the risks associated with that area or property type.
  • REIT Investment Risk — Investments in REITs involve unique risks. REITs may have limited financial resources, may trade less frequently and in limited volume and may be more volatile than other securities.
  • Repurchase Agreements and Purchase and Sale Contracts Risks — If the other party to a repurchase agreement or purchase and sale contract defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. If the seller fails to repurchase the security in either situation and the market value of the security declines, the Fund may lose money.
  • Reverse Repurchase Agreements Risk — Reverse repurchase agreements involve the risk that the other party to the reverse repurchase agreement may fail to return the securities in a timely manner or at all. The Fund could lose money if it is unable to recover the securities and the value of the collateral held by the Fund, including the value of the investments made with cash collateral, is less than the value of securities. These events could also trigger adverse tax consequences to the Fund.
  • Risks of Loan Assignments and Participations — As the purchaser of an assignment, the Fund typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation; however, the Fund may not be able unilaterally to enforce all rights and remedies under the loan and with regard to any associated collateral. Because assignments may be arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. In addition, if the loan is foreclosed, the Fund could become part owner of any collateral and could bear the costs and liabilities of owning and disposing of the collateral. The Fund may be required to pass along to a purchaser that buys a loan from the Fund by way of assignment a portion of any fees to which the Fund is entitled under the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower, and the Fund may not directly benefit from any collateral supporting the loan in which it has purchased the participation. As a result, the Fund will be subject to the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.
  • Second Lien Loans Risk — 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.
  • Senior Loans Risk —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.
  • Small Cap and Emerging Growth Securities Risks — Small cap or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a more limited management group than larger capitalized companies.
  • Sovereign Debt Risk — Sovereign debt instruments are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies.
  • Structured Products Risk — 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.
  • Supranational Entities Risk — The Fund may invest in obligations issued or guaranteed by the International Bank for Reconstruction and Development (the World Bank). If one or more stockholders of the World Bank fail to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities, and the Fund may lose money on such investments.
  • Tender Option Bonds and Related Securities Risk — Investments in tender option bonds, residual interest tender option bonds and inverse floaters expose the Fund to the same risks as investments in derivatives, as well as risks associated with leverage, described above, especially the risk of increased volatility. An investment in these securities may be subject to the risk of loss of principal. Residual interest tender option bonds and inverse floaters generally will underperform the market for fixed rate municipal securities in a rising interest rate environment.
  • U.S. Government Mortgage-Related Securities Risk — There are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. Mortgage-related securities guaranteed by the Government National Mortgage Association (“Ginnie Mae”) are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. Ginnie Mae securities also are supported by the right of Ginnie Mae to borrow funds from the U.S. Treasury to make payments under its guarantee. Mortgage-related securities issued by The Federal National Mortgage Association (“Fannie Mae”) or The Federal Home Loan Mortgage Corporation (“Freddie Mac”) are solely the obligations of Fannie Mae or Freddie Mac, as the case may be, and are not backed by or entitled to the full faith and credit of the United States but are supported by the right of the issuer to borrow from the U.S. Treasury.
  • U.S. Government Obligations Risk — Certain securities in which the Fund may invest, including securities issued by certain U.S. Government agencies and U.S. Government sponsored enterprises, are not guaranteed by the U.S. Government or supported by the full faith and credit of the United States.
  • Variable and Floating Rate Instrument Risk — The absence of an active market for these securities could make it difficult for the Fund to dispose of them if the issuer defaults.
  • Warrants Risk — If the price of the underlying stock does not rise above the exercise price before the warrant expires, the warrant generally expires without any value and the Fund loses any amount it paid for the warrant. Thus, investments in warrants may involve substantially more risk than investments in common stock.
  • Zero Coupon Securities Risk — While interest payments are not made on such securities, holders of such securities are deemed to have received income (“phantom income”) annually, notwithstanding that cash may not be received currently. Some of these securities may be subject to substantially greater price fluctuations during periods of changing market interest rates than are comparable securities that pay interest currently. Longer term zero coupon bonds are more exposed to interest rate risk than shorter term zero coupon bonds.
Risk Lose Money [Text] rr_RiskLoseMoney You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock Effective May 15, 2012, Managed Volatility Portfolio changed its investment strategy to invest a significant portion of its assets in ETFs and, to a lesser extent, in mutual funds and directly in securities. Performance for the periods shown below is based on the investment strategy utilized by the Fund prior to May 15, 2012, which focused on investing directly in securities.

On January 31, 2005, the Fund reorganized with the State Street Research Asset Allocation Fund (the “SSR Fund”), which had investment objectives and strategies similar to the Fund. For periods prior to January 31, 2005, the chart and table show performance information for the SSR Fund. The information shows you how the Fund’s performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Fund’s performance to that of the Standard & Poor’s (“S&P”) 500® Index, the Barclays U.S. Aggregate Bond Index, the MSCI All Country World Index (the “MSCI ACWI Index”), the Citigroup World Government Bond Index (hedged into USD) (the “Citigroup WGBI (hedged into USD)”) and three customized weighted indices comprised of the returns of the S&P 500® Index, the MSCI ACWI Index, the Barclays U.S. Aggregate Bond Index and the Citigroup WGBI (hedged into USD) in the percentages and combinations set forth in the table. Effective October 1, 2011, the Fund changed one of the components making up the customized weighted index from the S&P 500® Index to the MSCI ACWI Index. Fund management believes that the MSCI ACWI Index better reflects the Fund’s increasing exposure to non-U.S. equities. Effective May 15, 2012, the Fund changed one of the components making up the customized weighted index from the Barclays U.S. Aggregate Bond Index to the Citigroup WGBI (hedged into USD). Fund management believes that the Citigroup WGBI (hedged into USD) better reflects the Fund’s increasing global exposure. As with all such investments, past performance (before and after taxes) is not an indication of future results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the Fund’s returns would have been lower. Updated information on the Fund’s results can be obtained by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The information shows you how the Fund's performance has varied year by year and provides some indication of the risks of investing in the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone (800) 882-0052
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress http://www.blackrock.com/funds
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture As with all such investments, past performance (before and after taxes) is not an indication of future results.
Bar Chart [Heading] rr_BarChartHeading
Investor A Shares
ANNUAL TOTAL RETURNS1
BlackRock Managed Volatility Portfolio
As of 12/31
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the ten-year period shown in the bar chart, the highest return for a quarter was 13.66% (quarter ended September 30, 2009) and the lowest return for a quarter was –13.17% (quarter ended December 31, 2008). The year-to-date return as of September 30, 2012 was 9.14%.
Performance Table Heading rr_PerformanceTableHeading As of 12/31/11
Average Annual Total Returns
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads However, the table includes all applicable fees and sales charges.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for Investor A Shares only, and the after-tax returns for Investor B, Investor C and Institutional Shares will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Investor A Shares only, and the after-tax returns for Investor B, Investor C and Institutional Shares will vary.
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Investor A Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.25%
Maximum Deferred Sales Charge (Load) (as percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management Fee rr_ManagementFeesOverAssets 0.55% [2],[3],[4]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Interest Expense rr_Component1OtherExpensesOverAssets 0.01%
Miscellaneous Other Expenses rr_Component2OtherExpensesOverAssets 0.36% [2],[3]
Other Expenses rr_OtherExpensesOverAssets 0.37%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.18% [2],[3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.35% [2]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.30% [4]
1 Year rr_ExpenseExampleYear01 650
3 Years rr_ExpenseExampleYear03 926
5 Years rr_ExpenseExampleYear05 1,221
10 Years rr_ExpenseExampleYear10 2,060
2002 rr_AnnualReturn2002 (15.58%) [5]
2003 rr_AnnualReturn2003 25.77% [5]
2004 rr_AnnualReturn2004 11.50% [5]
2005 rr_AnnualReturn2005 6.46% [5]
2006 rr_AnnualReturn2006 10.39% [5]
2007 rr_AnnualReturn2007 9.68% [5]
2008 rr_AnnualReturn2008 (26.90%) [5]
2009 rr_AnnualReturn2009 26.43% [5]
2010 rr_AnnualReturn2010 13.74% [5]
2011 rr_AnnualReturn2011 (3.52%) [5]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 9.14%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.66%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (13.17%)
1 Year rr_AverageAnnualReturnYear01 (8.58%)
5 Years rr_AverageAnnualReturnYear05 0.97% [5]
10 Years rr_AverageAnnualReturnYear10 3.69% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Investor B Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice 4.50% [6]
Management Fee rr_ManagementFeesOverAssets 0.55% [2],[3],[4]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Interest Expense rr_Component1OtherExpensesOverAssets 0.01%
Miscellaneous Other Expenses rr_Component2OtherExpensesOverAssets 0.40% [2],[3]
Other Expenses rr_OtherExpensesOverAssets 0.41%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.18% [2],[3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.14% [2]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.09% [4]
1 Year rr_ExpenseExampleYear01 662
3 Years rr_ExpenseExampleYear03 1,015
5 Years rr_ExpenseExampleYear05 1,345
10 Years rr_ExpenseExampleYear10 2,267
1 Year rr_ExpenseExampleNoRedemptionYear01 212
3 Years rr_ExpenseExampleNoRedemptionYear03 665
5 Years rr_ExpenseExampleNoRedemptionYear05 1,145
10 Years rr_ExpenseExampleNoRedemptionYear10 2,267
1 Year rr_AverageAnnualReturnYear01 (8.50%)
5 Years rr_AverageAnnualReturnYear05 0.91% [5]
10 Years rr_AverageAnnualReturnYear10 3.63% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Investor C Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [7]
Management Fee rr_ManagementFeesOverAssets 0.55% [2],[3],[4]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Interest Expense rr_Component1OtherExpensesOverAssets 0.01%
Miscellaneous Other Expenses rr_Component2OtherExpensesOverAssets 0.33% [2],[3]
Other Expenses rr_OtherExpensesOverAssets 0.34%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.18% [2],[3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.07% [2]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.02% [4]
1 Year rr_ExpenseExampleYear01 305
3 Years rr_ExpenseExampleYear03 644
5 Years rr_ExpenseExampleYear05 1,109
10 Years rr_ExpenseExampleYear10 2,396
1 Year rr_ExpenseExampleNoRedemptionYear01 205
3 Years rr_ExpenseExampleNoRedemptionYear03 644
5 Years rr_ExpenseExampleNoRedemptionYear05 1,109
10 Years rr_ExpenseExampleNoRedemptionYear10 2,396
1 Year rr_AverageAnnualReturnYear01 (5.13%)
5 Years rr_AverageAnnualReturnYear05 1.34% [5]
10 Years rr_AverageAnnualReturnYear10 3.51% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Institutional Shares
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as percentage of offering price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management Fee rr_ManagementFeesOverAssets 0.55% [2],[3],[4]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Interest Expense rr_Component1OtherExpensesOverAssets 0.01%
Miscellaneous Other Expenses rr_Component2OtherExpensesOverAssets 0.34% [2],[3]
Other Expenses rr_OtherExpensesOverAssets 0.35%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.18% [2],[3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.08% [2]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [4]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.03% [4]
1 Year rr_ExpenseExampleYear01 105
3 Years rr_ExpenseExampleYear03 339
5 Years rr_ExpenseExampleYear05 591
10 Years rr_ExpenseExampleYear10 1,313
1 Year rr_AverageAnnualReturnYear01 (3.21%)
5 Years rr_AverageAnnualReturnYear05 2.43% [5]
10 Years rr_AverageAnnualReturnYear10 4.60% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Return After Taxes on Distributions | Investor A Shares
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (9.09%)
5 Years rr_AverageAnnualReturnYear05 0.24% [5]
10 Years rr_AverageAnnualReturnYear10 2.80% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Return After Taxes on Distributions and Sale of Shares | Investor A Shares
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (5.00%)
5 Years rr_AverageAnnualReturnYear05 0.67% [5]
10 Years rr_AverageAnnualReturnYear10 2.88% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | S&P 500 Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.11%
5 Years rr_AverageAnnualReturnYear05 (0.25%) [5]
10 Years rr_AverageAnnualReturnYear10 2.92% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.84%
5 Years rr_AverageAnnualReturnYear05 6.50% [5]
10 Years rr_AverageAnnualReturnYear10 5.78% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | MSCI ACWI Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (7.35%)
5 Years rr_AverageAnnualReturnYear05 (1.93%) [5]
10 Years rr_AverageAnnualReturnYear10 4.24% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.49%
5 Years rr_AverageAnnualReturnYear05 4.92% [5]
10 Years rr_AverageAnnualReturnYear10 4.75% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | 60% S&P 500 Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.69%
5 Years rr_AverageAnnualReturnYear05 2.84% [5]
10 Years rr_AverageAnnualReturnYear10 4.40% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | 60% MSCI ACWI Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.14%)
5 Years rr_AverageAnnualReturnYear05 1.91% [5]
10 Years rr_AverageAnnualReturnYear10 5.27% [5]
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO | 60% MSCI ACWI Index/40% Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.96%)
5 Years rr_AverageAnnualReturnYear05 1.38% [5]
10 Years rr_AverageAnnualReturnYear10 4.89% [5]
[1] 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 $1,000,000 or more.
[2] The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund's most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.
[3] Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. The Management Fee payable by the Fund is based on assets estimated to be attributable to the Fund's direct investments in fixed-income and equity securities and instruments, including exchange-traded funds ("ETFs") advised by BlackRock or other investment advisers, other investments and cash and cash equivalents (including money market funds). BlackRock has contractually agreed to waive the Management Fee on assets estimated to be attributed to the Fund's investments in other equity, fixed-income and money market mutual funds managed by BlackRock or its affiliates (the "mutual funds").
[4] As described in the "Management of the Fund" section of the Fund's prospectus on pages 76-80, BlackRock has contractually agreed to waive 0.05% of its Management Fee until June 1, 2013. In addition, 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) as a percentage of average daily net assets to 1.37% (for Investor A Shares), 2.14% (for Investor B and Investor C Shares) and 0.89% (for Institutional Shares) until June 1, 2013. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested Trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund.
[5] A portion of the Fund's total return was attributable to proceeds received in the fiscal year ended September 30, 2009 in settlement of litigation.
[6] The CDSC is 4.50% if shares are redeemed in less than one year. The CDSC for Investor B Shares decreases for redemptions made in subsequent years. After six years there is no CDSC on Investor B Shares. (See the section "Details About the Share Classes - Investor B Shares" in the Fund's prospectus for the complete schedule of CDSCs.)
[7] There is no CDSC on Investor C Shares after one year.
EXCEL 11 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=%]A8S%E,F%C-%\U9C)A7S0T9#9?86(S9%\Q,31D M,V8P-&0R8C@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-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/E)I#I7;W)K#I%>&-E;%=O#I!8W1I=F53:&5E=#XP/"]X.D%C=&EV95-H965T/@T*("`\ M>#I0#I%>&-E;%=O7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2`Q-2P@,C`Q,CQB'0^3W1H97(\'0^4V5P M(#,P+`T*"0DR,#$Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$"!+97D\+W1D/@T*("`@("`@("`\=&0@8VQA'0^3F]V(#8L#0H)"3(P,3(\'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQAF4],T0V/D9U;F0@3W9E'0^/&9O;G0@6QE/3-$)T9/3E0M1D%- M24Q9.B!!4DE!3"<@6QE/3-$)T9/ M3E0M1D%-24Q9.B!!4DE!3"<@F4],T0R/E1H:7,@=&%B;&4@9&5S8W)I8F5S('1H M92!F965S(&%N9"!E>'!E;G-E2!0;W)T M9F]L:6\N(%EO=2!M87D@<75A;&EF>2!F;W(@"!A9'9IF4],T0R/CQB/E-H M87)E:&]L9&5R($9E97,@/&)R/BAF965S('!A:60@9&ER96-T;'D@9G)O;2!Y M;W5R(&EN=F5S=&UE;G0I/"]F;VYT/CQS<&%N/CPO65A"!Y96%R'0^/&9O;G0@6]U('!A>2!E M86-H('EE87(@87,@82`\8G(O/G!E'!E;G-E'!E;G-E'!E;G-E'!E;G-E'!E;G-E(%)E M:6UB=7)S96UE;G1S/"]T9#X-"B`@("`@("`@("`@("`@/'1D(&-L87-S/3-$ M=&@^/'-U<#Y;,UT\+W-U<#X\+W1D/@T*("`@("`@("`@("`@("`\=&0@8VQA M'!E;G-E'!E;G-E&5D M+6EN8V]M92!A;F0@97%U:71Y('-E8W5R:71I97,@86YD(&EN2!";&%C:U)O8VL@;W(@:71S(&%F9FEL:6%T97,@*'1H92`B M;75T=6%L(&9U;F1S(BDN/"]T9#X-"B`@("`@("`@("`@(#PO='(^#0H@("`@ M("`@("`@("`\='(@8VQA2!A9W)E960@=&\@=V%I=F4@,"XP-24@;V8@:71S($UA;F%G96UE;G0@ M1F5E('5N=&EL($IU;F4@,2P@,C`Q,RX@26X@861D:71I;VXL($)L86-K4F]C M:R!H87,@8V]N=')A8W1U86QL>2!A9W)E960@=&\@=V%I=F4@86YD+V]R(')E M:6UB=7)S92!F965S(&]R(&5X<&5N'!E;G-E'!E;G-E65A2!O9B!T:&4@;F]N+6EN=&5R97-T960@5')U6QE/3-$ M)T9/3E0M1D%-24Q9.B!!4DE!3"<@6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@&%M<&QE(&ES(&EN=&5N9&5D('1O(&AE;'`@>6]U(&-O;7!A6]U6]U&%M<&QE#0H-"@T* M#0I);G9E'0^/&9O;G0@6]U(&1I9"!N;W0@'!E M;G-E($5X86UP;&4L($YO(%)E9&5M<'1I;VX-"@T*#0H-"DEN=F5S=&]R($$L M($(L($,@86YD($EN'0^/&9O M;G0@F4],T0R/E1H92!&=6YD('!A>7,@=')A;G-A8W1I;VX@ M8V]S=',L('-U8V@@87,@8V]M;6ES6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@F4],T0R/DUA;F%G960@5F]L871I;&ET>2!0;W)T9F]L:6\@=7-E6EN M9R!P97)C96YT86=E&EB:6QI='D@:6X@ M=&AE(')E;&%T:79E('=E:6=H=&EN9W,@9VEV96X@=&\@96%C:"!C871E9V]R M>2X\+V9O;G0^(#QB6QE/3-$)T9/3E0M1D%- M24Q9.B!!4DE!3"<@2!A;'-O(&EN=F5S M="!A('-I9VYI9FEC86YT('!O2!I;G9E2!I;G9E M2!B M92!C=7)R96YC>2!H961G960@;W(@=6YH961G960N(%1H92!&=6YD+"!T:&4@ M151&2!M87)K970@8V%P:71A;&EZ871I M;VXN/"]F;VYT/B`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`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`\=&0@=F%L:6=N/3-$=&]P('=I9'1H/3-$,R4@ M86QI9VX],T1L969T/CQF;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!!4DE! M3#LG(&-L87-S/3-$7VUT('-I>F4],T0R/B8C.#(Q,CL\+V9O;G0^/"]T9#X@ M/'1D('9A;&EG;CTS1'1O<"!A;&EG;CTS1&QE9G0^(#QP('-T>6QE/3-$)VUA M#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@6QE/3-$)VUA#L@ M;6%R9VEN+6)O='1O;3H@,'!X.R<^)FYB6QE/3-$)V)O3H@05))04P[)R!C;&%S#LG/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%- M24Q9.B!!4DE!3"<@#LG/B9N8G-P.SPO<#X\+W1D/CPO='(^/"]T86)L93X\+V1I M=CX\=6P@='EP93TS1'-Q=6%R93X\;&D@#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@05))04PG('-I>F4] M,T0R/CQB/CQI/DAI9V@@4&]R=&9O;&EO(%1U6QE/3-$;6%R9VEN M+6QE9G0Z+3(P<'@^/&9O;G0@&5D(&%N9"!);G9E&5D(&%N9"!I M;G9E6QE/3-$;6%R9VEN+6QE9G0Z+3(P<'@^/&9O;G0@2!V:7)T=64@;V8@=&AE($9U M;F0F(S@R,3<[6QE/3-$)T9/3E0M1D%- M24Q9.B!!4DE!3"<@&5D+6EN8V]M92!S96-U2!T:&4@:6YT97)E6UE;G0@;V8@=&AE(&]R:6=I;F%L(&)O;F0@<')I M;F-I<&%L('5P;VX@;6%T=7)I='D@*&%S(&%D:G5S=&5D(&9O2!I;F9L871I;VXM:6YD97AE9"!B;VYD2!L96%D('1O(&$@9&5C;&EN92!I;B!V M86QU92X@06YY(&EN8W)E87-E(&EN('1H92!P&5D(&)O;F0@=VEL;"!B92!C;VYS:61E&%B;&4@;W)D:6YA&5D(&)O;F0@;6%Y(&=I=F4@2!B92!R97%U:7)E9"!T;R!M M86ME(&%N;G5A;"!D:7-T2!D:7-T2!B92!C:&%R86-T97)I>F5D(&EN('-O;64@8VER8W5M#X\9F]N="!S='EL93TS M1"=&3TY4+49!34E,63H@05))04PG('-I>F4],T0R/CQB/CQI/DEN=&5R97-T M(%)A=&4@4FES:SPO:3X\+V(^("8C.#(Q,CL@26YT97)E7!E/3-$6QE M/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@2!O=F5R('1I;64@9V\@:6X@86YD(&]U="!O9B!F879O6QE M/3-$;6%R9VEN+6QE9G0Z+3(P<'@^/&9O;G0@2!H:6=H97(@#X\9F]N="!S='EL M93TS1"=&3TY4+49!34E,63H@05))04PG('-I>F4],T0R/CQB/CQI/DQE=F5R M86=E(%)I2!C875S92!T:&4@1G5N9"!T;R!L:7%U:61A=&4@<&]R=&9O M;&EO('!O2!N;W0@8F4@861V86YT86=E;W5S M('1O(&1O('-O('1O('-A=&ES9GD@:71S(&]B;&EG871I;VYS(&]R('1O(&UE M970@86YY(')E<75I#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@05))04PG('-I>F4],T0R M/CQB/CQI/DQI<75I9&ET>2!2:7-K/"]I/CPO8CX@)B,X,C$R.R!,:7%U:61I M='D@&ES=',@=VAE;B!P87)T:6-U;&%R(&EN=F5S=&UE;G1S(&%R M92!D:69F:6-U;'0@=&\@<'5R8VAA2!R M961U8V4@=&AE(')E='5R;G,@;V8@=&AE($9U;F0@8F5C875S92!I="!M87D@ M8F4@9&EF9FEC=6QT('1O('-E;&P@=&AE(&EL;&EQ=6ED('-E8W5R:71I97,@ M870@86X@861V86YT86=E;W5S('1I;64@;W(@<')I8V4N(%1O('1H92!E>'1E M;G0@=&AA="!T:&4@1G5N9"8C.#(Q-SMS('!R:6YC:7!A;"!I;G9E2!R:7-K+B!,:7%U:60@:6YV97-T;65N=',@;6%Y M(&)E8V]M92!I;&QI<75I9"!A9G1E2!T:&4@1G5N9"P@ M<&%R=&EC=6QA2!S=69F97(@82!L;W-S+B!);B!A9&1I=&EO;BP@ M=VAE;B!T:&5R92!I2!I;B!T:&4@;6%R:V5T(&9O#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@05))04PG('-I M>F4],T0R/CQB/CQI/DUA2!O=&AE6]U(&UA>2!L;W-E M(&UO;F5Y+CPO9F]N=#X\+VQI/CPO=6P^(#QU;"!T>7!E/3-$6QE/3-$)T9/ M3E0M1D%-24Q9.B!!4DE!3"<@2!TF%T:6]N(&-O;7!A;FEE#X\9F]N="!S='EL93TS1"=&3TY4+49!34E, M63H@05))04PG('-I>F4],T0R/CQB/CQI/DUO7!E M/3-$6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@2!T:&4@;V)L:6=A=&EO;BP@=&AE(')E M;&%T:79E(&QA8VL@;V8@:6YF;W)M871I;VX@86)O=70@8V5R=&%I;B!I6UE;G1S(&1E<&5N9"!O;B!T M:&4@:7-S=65R)B,X,C$W.W,@8W)E9&ET('%U86QI='DL(&%B:6QI='D@=&\@ M"!B87-E+CPO9F]N=#X\+V)L;V-K<75O=&4^(#QB;&]C M:W%U;W1E/CQF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@2!T:&4@ M<&%R=&EC=6QA2!OF4],T0R/CQI/E!R M:79A=&4@06-T:79I='D@0F]N9',@4FES:W,\+VD^("8C.#(Q,CL@375N:6-I M<&%L:71I97,@86YD(&]T:&5R('!U8FQI8R!A=71H;W)I=&EEF4],T0R/CQI/DUO2!S<&5C:6%L('!U2X\+V9O;G0^/"]B;&]C:W%U;W1E/B`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`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`Q-2P@,C`Q,BP@=VAI8V@@9F]C=7-E9"!O;B!I;G9E2`S,2P@,C`P M-2P@=&AE($9U;F0@65A2!Y M96%R(&%N9"!P7,@52Y3+B!!9V=R96=A=&4@0F]N9"!);F1E>"P@=&AE($U30TD@06QL($-O M=6YTF5D('=E:6=H=&5D(&EN9&5X M(&9R;VT@=&AE(%,F86UP.U`@-3`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`@("`@("`@("`@(#QT M9"!C;&%S&5S*3PO=&0^#0H@("`@("`@("`@("`@(#QT9"!C;&%S&5S*3PO=&0^#0H@("`@ M("`@("`@("`@(#QT9"!C;&%S"\T,"4@0F%R8VQA>7,@52Y3+B!!9V=R96=A=&4@0F]N M9"!);F1E>"`H4F5F;&5C=',@;F\@9&5D=6-T:6]N(&9O'!E M;G-E'!E;G-E65A'0^/&9O;G0@"!R971U'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S2`Q-2P-"@D),C`Q,CQS<&%N/CPO6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@F4],T0R/CQB/CQI/DEN=F5S=&UE;G0@3V)J96-T:79E/"]I/CPO8CX\+V9O M;G0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$=&@^51E>'1";&]C:SPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/&9O;G0@'!E;G-E(%M(96%D:6YG73PO=&0^ M#0H@("`@("`@(#QT9"!C;&%SF4],T0R/CQB/CQI/D9E97,@86YD($5X M<&5N'!E;G-E($YA'!E;G-E M3F%RF4] M,T0R/E1H:7,@=&%B;&4@9&5S8W)I8F5S('1H92!F965S(&%N9"!E>'!E;G-E M2!0;W)T9F]L:6\N(%EO=2!M87D@<75A M;&EF>2!F;W(@"!A M9'9IF4],T0R M/CQB/E-H87)E:&]L9&5R($9E97,@/&)R/BAF965S('!A:60@9&ER96-T;'D@ M9G)O;2!Y;W5R(&EN=F5S=&UE;G0I/"]F;VYT/CQS<&%N/CPO'1=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^F4],T0R M/CQB/D%N;G5A;"!&=6YD($]P97)A=&EN9R!%>'!E;G-E65A6]U'0^/&9O;G0@F4],T0R/CQB/E!OF4],T0R/E1H92!&=6YD('!A>7,@=')A;G-A8W1I;VX@8V]S M=',L('-U8V@@87,@8V]M;6ES'!E;G-EF4],T0Q/D$@8V]N=&EN9V5N="!D969E6QE/3-$ M)T9/3E0M1D%-24Q9.B!!4DE!3"<@2!Q=6%L:69Y M(&9O6]U'!E;G-E0G)E86MP;VEN=$UI;FEM=6U);G9E'!E;G-E'0^/&9O;G0@'!E;G-EF4],T0Q/E1H92!4;W1A;"!!;FYU86P@1G5N9"!/<&5R871I;F<@ M17AP96YS97,@9&\@;F]T(&-O&%M<&QE(%M(96%D:6YG73PO=&0^#0H@("`@("`@(#QT9"!C;&%S&%M<&QE2&5A9&EN9SPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/&9O;G0@&%M<&QE.CPO8CX\+V9O;G0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E($5X86UP;&4@3F%R&%M<&QE3F%RF4],T0R/E1H:7,@17AA;7!L92!I&%M<&QE(&%S6]U65A'!E;G-E2!B92!H:6=H97(@;W(@;&]W97(L(&)A&%M M<&QE+"!.;R!2961E;7!T:6]N+"!">2!996%R+"!#87!T:6]N(%M497AT73PO M=&0^#0H@("`@("`@(#QT9"!C;&%S&%M<&QE M3F]2961E;7!T:6]N0GE996%R0V%P=&EO;CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/&9O;G0@6]U(&1I9"!N;W0@'0^/&9O;G0@ MF4],T0R/DUA;F%G960@5F]L871I M;&ET>2!0;W)T9F]L:6\@=7-E6EN9R!P97)C96YT86=E2X\+V9O;G0^(#QB6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@2!A;'-O(&EN=F5S="!A('-I9VYI9FEC86YT('!O2!I;G9E2!I;G9E2!B92!C=7)R96YC>2!H961G960@;W(@=6YH M961G960N(%1H92!&=6YD+"!T:&4@151&2!M87)K970@8V%P:71A;&EZ871I;VXN/"]F;VYT/B`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`Q,"4@;W9E2!I2!M87D@2!W M:71H;W5T(&QI;6ET871I;VX@86QL;V-A=&4@87-S971S(&EN=&\@8V%S:"!O M&5D+6EN8V]M92!S96-U2!F&5D+6EN8V]M92!S96-U2!G:79E;B!T:6UE+"!T:&4@1G5N9"!M87D@8F4@:6YV97-T960@96YT:7)E M;'D@:6X@97%U:71I97,L(&9I>&5D+6EN8V]M92!OF4],T0R/CQB/CQI/DEN=F5S=&UE;G0@4FES:W,@/"]I/CPO M8CX\+V9O;G0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`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`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`N($EN=F5S=&UE;G1S(&EN(&5M97)G:6YG(&UA2!T:&%N(&1E M=F5L;W!E9"!M87)K971S+CPO9F]N=#X\+VQI/CPO=6P^(#QU;"!T>7!E/3-$ M6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@6QE/3-$;6%R9VEN+6QE9G0Z+3(P M<'@^/&9O;G0@'1E;G-I;VX@4FES:SPO:3X\+V(^("8C.#(Q,CL@5VAE;B!I M;G1E7!E/3-$6QE M/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@F4],T0R/E1H M92!&=6YD(&=E;F5R86QL>2!H;VQDF5D(&]R M(&YE=R!T;R!T:&4@9F]R96EG;B!C=7-T;V1Y(&)UF4],T0Q/B9N8G-P.SPO9F]N M=#X\+W1D/B`\=&0@=F%L:6=N/3-$=&]P('=I9'1H/3-$,R4@86QI9VX],T1L M969T/CQF;VYT('-T>6QE/3-$)V9O;G0M9F%M:6QY.B!!4DE!3#LG(&-L87-S M/3-$7VUT('-I>F4],T0R/B8C.#(Q,CL\+V9O;G0^/"]T9#X@/'1D('9A;&EG M;CTS1'1O<"!A;&EG;CTS1&QE9G0^(#QP('-T>6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^/&9O;G0@F4],T0Q/B9N8G-P.SPO9F]N=#X\+W1D/B`\=&0@=F%L:6=N/3-$=&]P M('=I9'1H/3-$,R4@86QI9VX],T1L969T/CQF;VYT('-T>6QE/3-$)V9O;G0M M9F%M:6QY.B!!4DE!3#LG(&-L87-S/3-$7VUT('-I>F4],T0R/B8C.#(Q,CL\ M+V9O;G0^/"]T9#X@/'1D('9A;&EG;CTS1'1O<"!A;&EG;CTS1&QE9G0^(#QP M('-T>6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X M.R<^/&9O;G0@2!N;W0@8V]M<&%R92!F879O2!O9B!T M:&4@56YI=&5D(%-T871EF4],T0Q/B9N8G-P M.SPO9F]N=#X\+W1D/B`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`@4V5C=7)I=&EE6QE/3-$;6%R9VEN M+6QE9G0Z+3(P<'@^/&9O;G0@6UE;G0@86YD(&5X=&5N6EN9R!M;W)T9V%G92!O#X\9F]N="!S='EL93TS M1"=&3TY4+49!34E,63H@05))04PG('-I>F4],T0R/CQB/CQI/DUU;FEC:7!A M;"!396-U2!O9B!F M=71U6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@ M2!P87EM96YT"!R979E;G5E2!T;R!M86EN=&%I;B!A;B!A9&5Q=6%T M92!T87@@8F%S92X\+V9O;G0^/"]B;&]C:W%U;W1E/B`\8FQO8VMQ=6]T93X\ M9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@05))04PG('-I>F4],T0R/CQI M/E)E=F5N=64@0F]N9',@4FES:W,\+VD^("8C.#(Q,CL@5&AE2!E87)N960@8GD@=&AE('!A2!B;VYD7,@=&AE('!R:6YC:7!A M;"!A;F0@:6YT97)E6UE;G0N/"]F;VYT/CPO8FQO8VMQ=6]T93X@/&)L;V-K M<75O=&4^/&9O;G0@2!I2X@268@=&AE(&ES2!N;W0@8F4@9G5L;'D@2X\+V9O;G0^/"]B;&]C:W%U;W1E/B`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`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`@("`@("`@/'1D(&-L87-S M/3-$=&@^3PO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/&9O;G0@'0^ M/&9O;G0@F4],T0R/D5F9F5C=&EV92!-87D@,34L(#(P,3(L M($UA;F%G960@5F]L871I;&ET>2!0;W)T9F]L:6\@8VAA;F=E9"!I=',@:6YV M97-T;65N="!S=')A=&5G>2!T;R!I;G9E2!I;B!S96-U2!I;B!S96-U2`S,2P@,C`P-2P@=&AE(&-H87)T(&%N9"!T86)L92!S:&]W('!E2!7;W)L9"!);F1E>"`H=&AE M("8C.#(R,#M-4T-)($%#5TD@26YD97@F(S@R,C$[*2P@=&AE($-I=&EG"P@=&AE($U30TD@04-722!);F1E M>"P@=&AE($)A"!T;R!T:&4@35-#22!!0U=)($EN9&5X M+B!&=6YD(&UA;F%G96UE;G0@8F5L:65V97,@=&AA="!T:&4@35-#22!!0U=) M($EN9&5X(&)E='1E"!F&5S*2!I'!E;G-E4]F M4F5T=7)N'0^/&9O;G0@ M6]U(&AO=R!T:&4@1G5N9"=S('!E65A2!Y96%R(&%N9"!P'1=/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$=&@^'0^*#@P,"D@.#@R M+3`P-3(\2!796)S:71E($%D9')E'1=/"]T9#X- M"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'0^/&9O;G0@6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@&5S*2!I6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@2!0;W)T9F]L M:6\\8G(O/B!!'0^/&9O;G0@'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L M87-S/3-$=&@^F4],T0R/D1UF4],T0R M/CQB/D%S(&]F(#$R+S,Q+S$Q/&)R+SY!=F5R86=E($%N;G5A;"!4;W1A;"!2 M971U6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE! M3"<@F4],T0R/D%F=&5R+71A M>"!R971U$1E9F5RF4],T0R/D%C='5A;"!A9G1E"!R971U"UD969E M'1=/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$=&@^%-H;W=N/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\ M9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@05))04PG('-I>F4],T0R/D%F M=&5R+71A>"!R971U2P@86YD('1H92!A9G1E6QE/3-$)T9/3E0M1D%-24Q9.B!!4DE!3"<@"!R871E"!R M971U"UD969E2X\+V9O;G0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S&EM=6T@4V%L97,@0VAA&EM=6T@1&5F97)R960@4V%L M97,@0VAA'!E;G-E'!E;G-E'!E;G-E'!E;G-E(%)E M:6UB=7)S96UE;G1S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'!E;G-E17AA;7!L95EE87(P,3PO=&0^#0H@("`@("`@(#QT M9"!C;&%S&%M<&QE665A'!E;G-E17AA;7!L M95EE87(Q,#PO=&0^#0H@("`@("`@(#QT9"!C;&%S6QE/3-$)T9/ M3E0M1D%-24Q9.B!!4DE!3"<@65A'0^ M/&9O;G0@5)E='5R;D1A=&4\+W1D/@T*("`@("`@("`\=&0@8VQA5)E='5R;DQA8F5L/"]T9#X-"B`@("`@("`@/'1D(&-L M87-S/3-$=&5X=#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@05))04PG M('-I>F4],T0R/FQO=V5S="!R971U'0^1&5C(#,Q+`T*"0DR,#`X/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S&EM=6U386QE'!E M;G-E&%M<&QE665A'!E;G-E17AA M;7!L95EE87(P,SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E17AA;7!L95EE M87(P-3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E17AA;7!L94YO4F5D96UP=&EO;EEE M87(P,3PO=&0^#0H@("`@("`@(#QT9"!C;&%S&%M<&QE3F]2961E M;7!T:6]N665A'!E;G-E17AA;7!L M94YO4F5D96UP=&EO;EEE87(Q,#PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S&EM=6U$969E'!E;G-E'!E;G-E'!E;G-E'!E;G-E'!E M;G-E'!E;G-E(%)E:6UB=7)S96UE M;G1S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'!E;G-E&%M<&QE665A'!E;G-E M17AA;7!L95EE87(P-3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E17AA;7!L94YO4F5D M96UP=&EO;EEE87(P,3PO=&0^#0H@("`@("`@(#QT9"!C;&%S&%M M<&QE3F]2961E;7!T:6]N665A'!E M;G-E17AA;7!L94YO4F5D96UP=&EO;EEE87(Q,#PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S&EM=6U$969E'!E;G-E&%M<&QE665A'!E M;G-E17AA;7!L95EE87(P,SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E17AA;7!L95EE87(Q M,#PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M&5S*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S"\T,"4@0F%R8VQA>7,@52Y3+B!!9V=R96=A=&4@0F]N9"!);F1E>"`H4F5F M;&5C=',@;F\@9&5D=6-T:6]N(&9O'!E;G-E"\T,"4@0F%R8VQA>7,@52Y3+B!!9V=R96=A M=&4@0F]N9"!);F1E>"`H4F5F;&5C=',@;F\@9&5D=6-T:6]N(&9O'!E;G-E&5S*3PO=&0^#0H@ M("`@("`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`F(S@R,C`[1G5N9"8C.#(R,3LI+"!A M('-EF4],T0R/CQB M/CQI/D9E97,@86YD($5X<&5N6QE/3-$)T9/3E0M1D%-24Q9.B!A6]U M(&UA>2!P87D@:68@>6]U(&)U>2!A;F0@:&]L9"!S:&%R97,@;V8@36%N86=E M9"!6;VQA=&EL:71Y(%!O'0^/&9O;G0@'!E;G-E6]U'!E M;G-E(%)E:6UB=7)S96UE;G1S/"]T9#X-"B`@("`@("`@("`@("`@/'1D(&-L M87-S/3-$=&@^/'-U<#Y;,ET\+W-U<#X\+W1D/@T*("`@("`@("`@("`@("`\ M=&0@8VQA'!E;G-E6%B;&4@8GD@ M=&AE($9U;F0@:7,@8F%S960@;VX@87-S971S(&5S=&EM871E9"!T;R!B92!A M='1R:6)U=&%B;&4@=&\@=&AE($9U;F0G2!";&%C:U)O8VL@061V:7-O2!";&%C:U)O8VL@;W(@:71S(&%F9FEL:6%T97,@*'1H92`B;75T=6%L(&9U M;F1S(BDN/"]T9#X-"B`@("`@("`@("`@(#PO='(^#0H@("`@("`@("`@("`\ M='(@8VQA'!E;G-E2!H879E('1O(')E<&%Y('-O;64@;V8@=&AE2!B92!T97)M M:6YA=&5D('5P;VX@.3`@9&%Y2!A('9O=&4@;V8@82!M86IO2!O9B!T:&4@;W5T'!E;G-E'!E;G-E'!E;G-E6QE/3-$)T9/3E0M1D%-24Q9.B!A6QE/3-$)T9/3E0M1D%-24Q9.B!A&%M<&QE(&ES(&EN=&5N9&5D('1O(&AE;'`@ M>6]U(&-O;7!A6]U&%M<&QE#0H-"@T*#0HH55-$("0I/&)R/CPO'0^/&9O;G0@F4],T0R/E1H92!&=6YD('!A>7,@=')A M;G-A8W1I;VX@8V]S=',L('-U8V@@87,@8V]M;6ES6QE/3-$)T9/3E0M1D%-24Q9.B!AF4],T0R/DUA;F%G960@5F]L871I;&ET>2!0;W)T9F]L M:6\@=7-E6EN9R!P97)C96YT86=E2X\+V9O;G0^(#QB6QE/3-$ M)T9/3E0M1D%-24Q9.B!A2!A M;'-O(&EN=F5S="!A('-I9VYI9FEC86YT('!O2!I;G9E2!I;G9E2!B92!C=7)R96YC>2!H961G960@;W(@=6YH961G960N(%1H92!& M=6YD+"!T:&4@151&2!M87)K970@8V%P M:71A;&EZ871I;VXN/"]F;VYT/B`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`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`\+W`^ M/"]T9#X\+W1R/CPO=&%B;&4^/"]D:78^/&)R("\^/&1I=CX\=&%B;&4@F4] M,T0Q/B`\+V9O;G0^/"]T9#X@/'1D('9A;&EG;CTS1'1O<"!W:61T:#TS1#,E M(&%L:6=N/3-$;&5F=#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL>3H@05)) M04P[)R!C;&%S#LG/B`\9F]N="!S M='EL93TS1"=&3TY4+49!34E,63H@87)I86PG('-I>F4],T0R/D-H86YG97,@ M:6X@9F]R96EG;B!C=7)R96YC>2!E>&-H86YG92!R871E#LG/B`\+W`^/"]T9#X\+W1R/CPO=&%B;&4^/"]D:78^(#QB M6QE/3-$)V)O2!N;W0@8V]M<&%R92!F879O2!O9B!T:&4@56YI=&5D(%-T871E6QE/3-$)V9O;G0M9F%M:6QY.B!! M4DE!3#LG(&-L87-S/3-$7VUT('-I>F4],T0R/B8C.#(Q,CL\+V9O;G0^/"]T M9#X@/'1D('9A;&EG;CTS1'1O<"!A;&EG;CTS1&QE9G0^(#QP('-T>6QE/3-$ M)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^(#QF;VYT M('-T>6QE/3-$)T9/3E0M1D%-24Q9.B!A2!P#LG/B`\+W`^/"]T9#X\ M+W1R/CPO=&%B;&4^/"]D:78^(#QB6QE/3-$ M)V)O6QE/3-$)VUA#L@;6%R M9VEN+6)O='1O;3H@,'!X.R<^(#PO<#X\+W1D/CPO='(^/"]T86)L93X\+V1I M=CX\8G(@+SX@/&1I=CX\=&%B;&4@F4],T0Q/B`\+V9O;G0^/"]T9#X@/'1D M('9A;&EG;CTS1'1O<"!W:61T:#TS1#,E(&%L:6=N/3-$;&5F=#X\9F]N="!S M='EL93TS1"=F;VYT+69A;6EL>3H@05))04P[)R!C;&%S#LG/B`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`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`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`S,2P@,C`P-2P@=&AE(&-H87)T(&%N9"!T86)L92!S:&]W('!E2!7;W)L9"!);F1E>"`H=&AE M("8C.#(R,#M-4T-)($%#5TD@26YD97@F(S@R,C$[*2P@=&AE($-I=&EG"P@=&AE($U30TD@04-722!);F1E M>"P@=&AE($)A"!T;R!T:&4@35-#22!!0U=)($EN9&5X M+B!&=6YD(&UA;F%G96UE;G0@8F5L:65V97,@=&AA="!T:&4@35-#22!!0U=) M($EN9&5X(&)E='1E"!F&5S*2!I'!E;G-EF4],T0R(&9A8V4],T0G07)I86PL($AE;'9E=&EC82P@ M2!0;W)T9F]L:6\\8G(^07,@;V8@,3(O,S$\+V(^/"]F;VYT/CPO M8V5N=&5R/CQS<&%N/CPO6QE/3-$)T9/3E0M1D%-24Q9.B!A65A'0^/&9O;G0@&5S*3PO M=&0^#0H@("`@("`@("`@("`@(#QT9"!C;&%S&5S*3PO=&0^#0H@("`@("`@("`@ M("`@(#QT9"!C;&%S&5S*3PO=&0^#0H@("`@("`@("`@("`@(#QT9"!C;&%S"\T,"4@0F%R8VQA M>7,@52Y3+B!!9V=R96=A=&4@0F]N9"!);F1E>"`H4F5F;&5C=',@;F\@9&5D M=6-T:6]N(&9O'!E;G-E'!E M;G-E65A'0^/&9O;G0@"!R971U7!E.B!T97AT M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA'0^0DQ!0TM23T-+($953D13/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^36%Y(#$U+`T*"0DR,#$R/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%SF4],T0V/D9U;F0@3W9E'0^/&9O;G0@2!;5&5X="!";&]C:UT\ M+W1D/@T*("`@("`@("`\=&0@8VQAF4],T0R/E1H M92!I;G9E2!0;W)T9F]L:6\F(S@R,C$[(&]R('1H92`F(S@R,C`[1G5N9"8C.#(R M,3LI+"!A('-E6QE/3-$)T9/3E0M1D%-24Q9.B!A'!E;G-E($YA'!E;G-E3F%RF4],T0R/E1H:7,@=&%B;&4@9&5S8W)I M8F5S('1H92!F965S(&%N9"!E>'!E;G-E2!0;W)T9F]L:6\N/"]F;VYT/CQS<&%N/CPO'1=/"]T9#X- M"B`@("`@("`@/'1D(&-L87-S/3-$=&@^F4],T0R/CQB/D%N;G5A M;"!&=6YD($]P97)A=&EN9R!%>'!E;G-E6]U('!A>2!E86-H('EE87(@87,@82!P97)C96YT86=E(&]F('1H92!V86QU M92!O9B!Y;W5R(&EN=F5S=&UE;G0I/"]F;VYT/CQS<&%N/CPOF4],T0Q/DIU;F4@,2P@,C`Q,SPO9F]N=#X\6QE/3-$)T9/3E0M1D%-24Q9.B!A'0@0FQO M8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^6QE/3-$)T9/3E0M1D%-24Q9.B!A&%B;&4@86-C M;W5N="X@5&AE'!E;G-E'!E;G-E'0^ M/&9O;G0@'!E;G-EF4],T0Q/E1H92!4;W1A;"!!;FYU86P@1G5N9"!/<&5R871I;F<@17AP M96YS97,@9&\@;F]T(&-O&%M<&QE(%M(96%D:6YG73PO=&0^#0H@("`@("`@(#QT9"!C;&%S&%M<&QE2&5A9&EN9SPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/&9O;G0@&%M<&QE.CPO8CX\+V9O;G0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`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`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`\+W`^/"]T9#X\+W1R/CPO=&%B;&4^ M/"]D:78^/&)R("\^/&1I=CX\=&%B;&4@F4],T0Q/B`\+V9O;G0^/"]T9#X@ M/'1D('9A;&EG;CTS1'1O<"!W:61T:#TS1#,E(&%L:6=N/3-$;&5F=#X\9F]N M="!S='EL93TS1"=F;VYT+69A;6EL>3H@05))04P[)R!C;&%S#LG/B`\9F]N="!S='EL93TS1"=&3TY4+49!34E, M63H@87)I86PG('-I>F4],T0R/D-H86YG97,@:6X@9F]R96EG;B!C=7)R96YC M>2!E>&-H86YG92!R871E#LG/B`\+W`^ M/"]T9#X\+W1R/CPO=&%B;&4^/"]D:78^(#QB6QE/3-$)V)O2!N;W0@8V]M M<&%R92!F879O2!O9B!T:&4@56YI=&5D M(%-T871E6QE/3-$)V9O;G0M9F%M:6QY.B!!4DE!3#LG(&-L87-S/3-$7VUT M('-I>F4],T0R/B8C.#(Q,CL\+V9O;G0^/"]T9#X@/'1D('9A;&EG;CTS1'1O M<"!A;&EG;CTS1&QE9G0^(#QP('-T>6QE/3-$)VUA#L@ M;6%R9VEN+6)O='1O;3H@,'!X.R<^(#QF;VYT('-T>6QE/3-$)T9/3E0M1D%- M24Q9.B!A2!P#LG/B`\+W`^/"]T9#X\+W1R/CPO=&%B;&4^/"]D:78^ M(#QB6QE/3-$)V)O6QE/3-$)VUA#L@;6%R9VEN+6)O='1O;3H@,'!X.R<^ M(#PO<#X\+W1D/CPO='(^/"]T86)L93X\+V1I=CX\8G(@+SX@/&1I=CX\=&%B M;&4@F4],T0Q/B`\+V9O;G0^/"]T9#X@/'1D('9A;&EG;CTS1'1O<"!W:61T M:#TS1#,E(&%L:6=N/3-$;&5F=#X\9F]N="!S='EL93TS1"=F;VYT+69A;6EL M>3H@05))04P[)R!C;&%S#LG/B`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`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`\=6P@='EP93TS1'-Q=6%R93X\;&D@#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@87)I M86PG('-I>F4],T0R/CQB/CQI/E4N4RX@1V]V97)N;65N="!/8FQI9V%T:6]N M#X\9F]N="!S='EL M93TS1"=&3TY4+49!34E,63H@87)I86PG('-I>F4],T0R/CQB/CQI/E9A6QE/3-$;6%R9VEN+6QE9G0Z+3(P<'@^/&9O;G0@2!E>'!I#X\9F]N="!S='EL93TS1"=& M3TY4+49!34E,63H@87)I86PG('-I>F4],T0R/CQB/CQI/EIE'!O6QE/3-$)T9/3E0M1D%- M24Q9.B!A2!L;W-E('!A6QE/3-$)T9/3E0M1D%-24Q9.B!A'1" M;&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/&9O;G0@'1E;G0L(&EN(&UU='5A;"!F=6YDF5D(&)Y('1H92!&=6YD('!R:6]R('1O($UA>2`Q-2P@,C`Q M,BP@=VAI8V@@9F]C=7-E9"!O;B!I;G9E2`S,2P@,C`P-2P@=&AE($9U M;F0@65A2!Y96%R(&%N9"!P M7,@52Y3+B!! M9V=R96=A=&4@0F]N9"!);F1E>"P@=&AE($U30TD@06QL($-O=6YTF5D('=E:6=H=&5D(&EN9&5X(&9R;VT@=&AE M(%,F86UP.U`@-3`P/'-U<#XF(S$W-#L\+W-U<#X@26YD97@@=&\@=&AE($U3 M0TD@04-722!);F1E>"X@1G5N9"!M86YA9V5M96YT(&)E;&EE=F5S('1H870@ M=&AE($U30TD@04-722!);F1E>"!B971T97(@7,@52Y3+B!!9V=R M96=A=&4@0F]N9"!);F1E>"!T;R!T:&4@0VET:6=R;W5P(%='0DD@*&AE9&=E M9"!I;G1O(%531"DN($9U;F0@;6%N86=E;65N="!B96QI979E2!W97)E M+"!R971U2!V:7-I=&EN9R!H='1P.B\O=W=W+F)L86-K2!O9B!2971UF4],T0R/E1H92!I;F9O2!0:&]N M92!;5&5X=%T\+W1D/@T*("`@("`@("`\=&0@8VQA5!H;VYE/"]T9#X-"B`@("`@("`@/'1D(&-L M87-S/3-$=&5X=#XH.#`P*2`X.#(M,#`U,CQS<&%N/CPO5=E8E-I=&5!9&1R97-S/"]T9#X- M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\9F]N="!S='EL93TS1"=&3TY4 M+49!34E,63H@87)I86PG('-I>F4],T0R/FAT='`Z+R]W=W'0^/&9O;G0@&5S*2!I MF4],T0R(&9A8V4],T0G07)I86PL($AE;'9E=&EC82P@ M2!0;W)T9F]L:6\\8G(^07,@;V8@,3(O,S$\+V(^/"]F;VYT/CPO M8V5N=&5R/CQS<&%N/CPO'1=/"]T9#X- M"B`@("`@("`@/'1D(&-L87-S/3-$=&@^6QE/3-$)T9/3E0M1D%-24Q9.B!A'1" M;&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/&9O;G0@65A'0^/&9O;G0@F4] M,T0R/DAO=V5V97(L('1H92!T86)L92!I;F-L=61E'0^/&9O;G0@'0^/&9O;G0@"!S:71U871I;VX@86YD(&UA M>2!D:69F97(@9G)O;2!T:&]S92!S:&]W;BP@86YD('1H92!A9G1EF4] M,T0R/D%F=&5R+71A>"!R971U2!D:69F97(@9G)O;2!T:&]S92!S:&]W;BP@86YD('1H M92!A9G1E'!E;G-E'!E;G-E'!E;G-E'!E;G-E'!E;G-E&%M<&QE665A&%M<&QE665A'0^ M/&9O;G0@'0^4V5P(#,P+`T*"0DR,#$R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S2!2971U5)E='5R;DQA8F5L/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$=&5X=#X\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@ M87)I86PG('-I>F4],T0R/FAI9VAE'0^4V5P(#,P+`T*"0DR,#`Y/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S2!2971U2!2971U6QE/3-$)T9/ M3E0M1D%-24Q9.B!A&5S(&]N($1I"`H4F5F;&5C=',@;F\@9&5D=6-T:6]N(&9O'!E;G-E7,@52Y3 M+B!!9V=R96=A=&4@0F]N9"!);F1E>"`H4F5F;&5C=',@;F\@9&5D=6-T:6]N M(&9O'!E;G-E'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S"\T,"4@0F%R8VQA M>7,@52Y3+B!!9V=R96=A=&4@0F]N9"!);F1E>"`H4F5F;&5C=',@;F\@9&5D M=6-T:6]N(&9O'!E;G-E"\T,"4@0VET:6=R;W5P(%='0DD@*&AE9&=E M9"!I;G1O(%531"D@*%)E9FQE8W1S(&YO(&1E9'5C=&EO;B!F;W(@9F5E'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M6%B;&4@8GD@=&AE($9U M;F0@:7,@8F%S960@;VX@87-S971S(&5S=&EM871E9"!T;R!B92!A='1R:6)U M=&%B;&4@=&\@=&AE($9U;F0G2!";&%C:U)O8VL@061V:7-O2!";&%C M:U)O8VL@;W(@:71S(&%F9FEL:6%T97,@*'1H92`B;75T=6%L(&9U;F1S(BDN M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA'!E;G-E'!E;G-E+"!);G1E'!E;G-E+"!!8W%U M:7)E9"!&=6YD($9E97,@86YD($5X<&5N2!H879E M('1O(')E<&%Y('-O;64@;V8@=&AE2!B92!T97)M:6YA=&5D('5P;VX@.3`@9&%Y M2!A('9O=&4@;V8@82!M86IO M2!O9B!T:&4@;W5T'!E;G-E'!E;G-E'!E;G-E7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S M8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I M=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2`Q-2P-"@D),C`Q,CQS<&%N/CPO'0^3F]V(#8L#0H)"3(P,3(\4IX1D1+0FMA14E),$MX=U)64S!F06M-,DIY9V=K2T9H8UE'4F]L2FEC M;TM3;S!.5%DS#0I/1&LV43!21E)K9$E357!45D965U8Q:%I7;4YK6E=:;F%' M;'%C,U(Q9&YD-&58<41H25=':#1I2FEP2U1L2E=7;#5I6FUQ2VIP2U=M#0IP M-FEP<7)+>G1,5S)T-VDU=7-,1'A-6$=X.&I*>71,5#%.6%#AV4#`Y9F(S*U!N-B\X44%(=T5!#0I!=T5"05%%0D%114)! M44%!04%!04%!14-!=U%&0F=C24-1;TPO.%%!=%)%04%G14-"05%$0D%C1D)! M44%!44HS04%%0T%X145"4T5X#0I":$I"55%D:&-236E-;T5)1D5+4F]B2$)# M4TUZ579!5EEN3%)#:%EK3D]%;#A28UE'4F]M2GEG<$MJ53).>F"]W06LX.$PO#0I!4%E+=&8X03!3=&%0:4=Y=3E2,&4T=$Y/=G9S M1GI,=$%N,D8X3'5"65E6;%EB;$)82W-R1$]145%$6&-K%AD-G).65%A:%I$>DQE0S(P<4-/,DE6 M-&)*439R2DYT15DK>D9.=31-0TUG1EGIN:$MW,6I74$-U:F%N M#0IC*TQD85=E.7-O8FU2631,24M'9$%X07IB:S1Y9E4P.4]X2W9A.7I6+W=# M148X2B\Y0W9O6"]G=F@O.$%I85`K148X2B]W1%%R-D8O#0HT3#1F+VEA6"]H M2'14+S9'+UAV*R].;"\X:C!F.$DY<68O43,V.2\S-7-V+T%*2&]S=7=89C@S M-6EF.$%#0RM%+W=$;U8Y0R\X1CA0#0HO=T%44B]W9W9H4"]!2T9F478X07=8 M=R\O13%L945R1%=.63A+-DYQ9'HT=#%P6C6AU6D9J9W-G;UHP1$5$3G54 M:DHY5%=T+W=J#0HR<"\Y1&9R,R]F;7DO=T1K96I4F9M2B]W9W9H4"]O5CE#+SA!0F9$+T%013!F.$E,#0HT5"\V1F91=B]"9D0O M=T1%,'8X07=J,G`O=T11,S8Y+S,U%`K148X2B\Y#0I#=F]8+V=V:"]W1&EA4#A!:$)F0V8O47(V M1B\T3#1F+T%);7-R=VQ987AR2&A84G14=69&=71,4&4R54YZ27-C1FM&1$]G M66=:='EC#0I:4'%A,78X06A(=%0O=T-H=C$W+T%,.#)8+WE04G`R0C-7;DXK M66XO04%G=FA0.$$V1F91=B]"9D0O.$%%,&8X24PT5"]W0VA8,$PO#0I!348X M4"]X3DPO=VHR<"\Y1&9R,R]F;7DO=T1K96HO:$AT5"]!3VAV,3%`K148X2B]W1%%R-D8O#0HT3#1F+VEA4"M%1CA*+SA! M47(V1B]W0T,K2"\T;6PO-%(W52\K:'8Q-R]V>EIF.$%Y4%(O=VHR<"]W1%$S M-CDO,S5S=B]K96EY-T)D#0HO=T$S-6EF.$E,-%0O=T-H6#!,+T%-1CA0+WA. M2"]#0RM%+RMH6#!,+W=!1CA0.$$X5%=6-%-S3EDQ:G=R;S)P,U!I,U=L;G9B M2T4-H;E%-44TR-4]-;C%.83,O0U!A;B\P3BMV9CDK8DPO=T-2 M-DY/=T\V,#5V>D4O-%%8=VXO,$LK:&8K0RM(+T%/2F\O=T-%#0I&.$HO.4-V M;U@O9W9H+SA!:6%8+T%)4C=5+SA!;V(Y92]W0R].;"\X:C!F.$DY<68O43,V M.2\S-7-V.$$U2&]S=7=89C@S-6EF.$E,#0HT5"\V1F91=B]"9D0O=T1%,&8X M04-#*T4O=T1O5CE#+SA&.%`O=T%44R\X04-086XO=T)$9G(S+T%(-7-V+VME M:B]H2'14+S9'+UAV#0HK+TYL+W=$23E&;#)#-R]M+TU4+T%)45AW;B\P2RMH M9BM#*T@O=T-*;R\T45AW;B]!3D-V;U@O9W9H+RM*&)R4WHS=&Q$8WE,2$):0E%Z;T=)1V)C;D=4-FUT8B]H2'14+S9'+UAV M*R].;"\X:C!A9&=D,7!Z9FU*+W=G=FA0+T%+1F91=CA!#0IW6'6AU6D9J9W-G;UHP1$5$3G54:DHY5%=T+W=J M,G`O=T11,S8Y+S,U$Y,+W=J,G`O.41F M%`K148X2B]W1%%R-D8O-$PT9B]I85`K148X2B\X05%R-D8O=T-##0HK2"\T M;7-R=VQ987AR2&A84G14=69&=71,4&4R54YZ27-C1FM&1$]G66=:='EC6E!Q M83%V*T5E,5`O;V(Y92\W.#)8+T%-:C!A9&=D#0HQ<'IF;4HO=V=V:%`O;U8Y M0R\X04)F1"]!4$4P9CA)3#14+S9&9E%V+T)F1"]W1$4P=CA!=VHR<"]W1%$S M-CDO,S5S=B]K96HO:$AT#0I4+S9'+UAV*R].;"\X:C!76%E,=BMB.'A0*T5& M.$HO.4-V;U@O9W9H+W=$:6%0.$%H0F9#9B]1$Y(+T%!9W9H4#A!#0HV1F91=B]" M9D0O.$%%,6QE17)$5TY9.$LV3G%D>C1T,7!:-S)Y:'5:1FIG%`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`O>$Y,+W=J,G`O.41FF185VA-,2]D4UAC.%8W95%A-#0IS86MH1E9C M-U58;T)26F1G=3=8=5)F.$%#0RM%+W=$;U8Y0R\X1CA0+W=!5%AZ5"LP='!/ M;F%0-#=S3&938D,P51V=W0O M,D-R6"]W0D5R6%(T#0IR;G9H=B]Y5'9W="\R0W)8+W="17)84C1R5F)'170R M3GA2:6Y9;WA42DC1B+SA! M#0I*3R]#,R]92W1F.$$P4W1,<58P3VAX4FEN66]X5$I'-&]X5'-566]!8FEJ M1D]X4FEG0G5+354W1D=+04%1S55EO06)I:D9/ M>%)I9T)U2TU5#0HW1D=+04%1S55EO06)I:D9/>%)I9T)U2TU5-T9'2T%'-&]X5'-566]!;V$Q#0I0 M<#%T<&1Y*W1Y,FM7;6Q03&YA-UI6:4MT.'4Q:3-'1&Y'1#%Z:7-$-%EF6E`K M15-(.6UE4CEG+W1#+RMZ+UHX958U9C)Y8F)S>'AT#0IX:D=/358Q3GI),$YT M3$I(1$I/-DE75TM-<4=K24@S4G5)1U0P-4E(<5)83R]$;5)P=D15:W-K36M$ M=G%7;W,P56A5=$=497HO2V1P#0I)>4]N0DDY0V%N<5@Y:S981F9+6#=6,R]! M0U545'8X07-&4B\K:G!Q*W(X5CAO+W18+SA!2E).3R]W0W=62"\V3VUQ2S-W M;75'*TTK#0IJ4&AT+W=!:S8X3&8Y9W$Q+W=$4DLQ=&%J9&993=8>DQ$3S50;7,S-S%08THR2&A(5%IT2#A+84QP;#`P8C-&;%I1,C!J4FML M4WE2#0IQ<$E*04]-:C!&2DYJ:VML;V%T8S4X3G8K4V1E1G8X07-&5W8O;VQA M=F%T<%8U9EA+>5=U=F%N<'E"07!I=%DW6FQ*>69M4&U23V,X#0HT-C0T2$A8 M3DPT8FI0=S8X3&,T+S1L5G`O=T-I5G`Y4E#$U<$UC05I0#0HQ;T-W5594,5ID4F4S5DY):W1) M<#)B1%,S4TY)DIO96Y85!/3')66DE$#0I.8GAP2$IS:FTX;U-O=VEL2#=W3T=C275#>$MN>D%M M-T158FYC559I*TMR;2]S9$YK=3=3.'-B1S%T67!,:39U69R4S0U-C!"65-I M;'@Q-7!-8T%:#0I0,6]#=U55=4]E=$=/=DY!5T5O;WAW0FLO5VQX>C%O0W=L M1DQJ69R449G;W!C8SEA361E84%S2E)2:F=$2BMT3&INCEQ=EI,#0I',59.,#`V4VE)<$=/ M5RMC+V-',$5&9U%10U-#<$%).#5A-S%M83=T.4,P4U75(;6E-:GHK#0I90TUY<7)26=H2E0U8F=$1$%-4WDU9U5$,4]I=4,Q0S8Q5%$W>E=�IU=%HS M=WDW4-9;6PR=51+9S9Z=S=D5SDW M;S%U.7`Y;U=/4&1B'5J5%30U%C;'`S M130R,4Y':6QX>C%O>#$U<&ES2E)2:F=$2BMT3&IN5IL='!7=%DT M-4IW:$UA4T]55FUX=T-W0DE'92M$:C!.8S4X3T1-,VAQ5G)Q3T]/8S9L<4IK M4TYY#0HV<3,R,F9)1$5!:UHW-$=F459R879P='IF*U8Y;#%M+S!Z6FYD.6Q3 M0G9->FI'9DYJ9G!G.4UD5&Y01TUR-&-23D0T86QJ:VUK;F1.#0I3,497;&M# M:'!#3#)F-6IT04=4,31!2&]"4S9L5SDP-F%V;$0Y%1S#0I567!I1S1R;2]HF=JG)-#0IS4$-F:#%S8G1!,&LO5WIJ+W=!2V-9 M3V(P37%M259,4FYQ3W`V46UP,F1Z85AL>&-08E1Y>'E.1TYO1WA3:$U0,V9M M:F9A47=B3U$W#0IJ3T-!2DQN5$EB;E9B2R]L85)N=$5K5TM):T=-32LP95IJ M2#-W;UI1=S9,230O:7)Y,BLX2BM(1GIT,$130CE,2U`X02M*;RM(96U7#0I' M;F9%;45A9%I7='!V,'$V,RM217-E-T4Q=&I/0GHQ4#4P-7=C9'A55A$6$XQ2VMX=6EW.#).;S,S#0IW:&5.;U=.9T-Q:T93 M8VQG>%IY,FQP=&IB-EIP,7)95TUF;%=L%1S55EO06)I M:D9/>%)I#0IG0G5+354W1D=+04%1S55EO06)I:D9/>%)I9T1L4$AE=&%4<#ET0G`KDMP67%P4&XU#0I)0EII0C(S2#%Q=F]';V5'.68X045L;%IY9450 M'-J=54R;5)304U!8S1P="\P7%!6D7`R:VI)-F-%:C!*<65P6#)4<'-6.&YF=%DO.&Q&,#51N=W(O04YG<3`O.$%22S%T-FID9EER3U-C5SEX8W-U07-.=6TU,UEK04%D M04UK:FMK2T)Y>$%"27AF:'`O=T%K#0HU.$LO.6=M,"]W1%)+,7(V,V,S9&QP M5GIC861P.&UP6&E*;4LP:FQ337ET,$$S=5%&2&-N,$)W0V-!,G1J3G(S:D18 M>&A(2DE,5T13#0I.5&TQ9%AD6F1.6'E"3D-%5TYM6FU-9VE)>%!!9FQC;CDT M3T]',C&AF35IS2VA/-'-Z5C)0:$142G1'.$HV3'!D,#!B#0HS1FQ:45#)Z2WAY9FU0;7A/8S@T-C0T2$A83D@T M86=N-&-E1F5C9CA3<3`O.45P5#9I=&]D2%)3-$]F-E5!2&UM4TI24F55Q,B\W0E8S+T%/:G)7FYP:%)3-$]F-E5!2&UG M46Q&1T1G1$HK=$QG-2]P44%L1DM!96%40G=":R]79UE5575$;BML04(U;T5* M4E)G-$%Y9G)3-$]F-E5!#0I*4E-G2&UK=V-!6E`Q;T=&1DQG-2]P44%E84)# M55593T%-;C8P=41N*VQ!0U55;T(U<$U(04=4.6%":%)3-$]F-E5!2&UG46Q& M1T1G#0I$2BMT3&69R4S1/9C9505$S2FU7,FQA,6IJ:W5!:$UA4T]55FUX M#0IW0W="24=E*T1J,$YC-3A.>DTS:&U651J=W`O=T)G;3`O.45P6%,T<3%S6GDS63-& M1TMD:6I&36MB:75B*T=G+S1T>#16+S="3G`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`K2RM3+S)T9BM3:C9B+S)#62\O045D M3E@Q=&EV:VXYD@R M04I087-$-%IJ+VDR+VA4+W-%,FXO#0I!2TI3=6=U<$=H='!:631:3&@P47-S M35I53DE13T9'-&AC;G!Y45!5:7)7>&TY>FYL.%=W5#9B;S%Z<#)N86AF>F%T M84,K9W1)9DM7#0I543116$T,'I2<$Y,=6)+1V%$>FQK4#)F1&=T24EY;BMJ=#!F9#@V9DPY-V(Q M,VE(K1V=Z.$XO0VY/4"M*5&%F M*VE5;S9I-DA366]X4FIN3V9W;T$V.#4O<%9#1$9'2TYP,F=B:FXQ.6%-8S5Z M*T9!0FEJ#0I&04A8;E`X05-J861O1S0U.6979T1Z3#1P+SA!23,K1W8K=DLK M+SA!4FQR55=N9'%L*TMN+TDS*T=V.$%R>79V+U)L3(O-T).,R]! M3VIR5VY8,D9G=FI8>B]).6%X4FEG1')Z;BML#0I',#=13GAZ-BMT8S4V:'E( M:B]8.4PP,%=M:S9V;VQXFMX1TIL4V1O M;VLQ#0IJ5W1$,4=1=G$O=S=V3'@Y-6M,6$YV<#AP,T96571K>FYK<6E$4&]Q M:G-+,5!$+VE(4E!%9FI'15,K1W)I,#%U1S!K;&=V8C)#,EHQ#0IJ5FQ6;%=2 M2DA99C8W<'=-33%:;6\Y-G`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`Y864U-E9K M,C-I2'AH3B]Z14Y!1V8X07%&>F-F*U1.3E%C;F]22W1#;G!*#0IM9%DR3GI: M84I:5V5L>#9P1&\R;3-&=DIB,SAE:U!&4%I337,V,T%I=%=J3'EO5EI%0F1: M1T)U6&1N:TU:>'!A9#1D;4]N-E9C,G1V#0IE465*2FMN,C-S:499,&)F3FDK M;&I965)Y3'%A4F)F:FTT2TU-4C4U3 M;C`V56Y48V0P3T=):%5D;W8X+SA!23,O0C=8:U5U<&%F3G!0,D-WDU36D=90DI42FYK>FQ$;#0S2C981D%(6&Y0.$%3:F%D;T'IN4#15061E8R\P<&='2TU58E1T#0I!,TA03%Q2%1U,50O04)7+S5'-W3%Q1%1U,6(P1'IC8CA26G8K M;%5V0D@O04-5>3$O-T).,R\V3W1A=3,O4W%89VHO04I+6F$O.$%92G90+U(Q MB]).5IX4FEG1')Z;BML1S`W44YX>C8K=&-X-G`U+SA9 M4"M09G=X+W=":&(O,C!U87ET3S=6<2]'169U4$1">B]Z1FIX+S(V6$Y:#0I7 M;F1Q,F]D5'IS9'5V5#E75V(O<%=(<%@O22]E1E`X07(Y;2\Y23=I='DO-E9I M858O=T%J+W=#1E`K=C)B+S!J=4MU=G-:650T,&5Z#0HT;WA10C$U>B]3:F%D M;T'IN4#15061E8R\P;T%-55EO,FYA0G5/9E@Q;WAZ M;E`T54%26%)M5S)L83%J:FMU#0I!:$UA4T]55FUX=T-W0DE'92M$:C!04W5B M*T=P;6)W>$LQ,4A(2&-(53E336E2=5A65RLS5#5!66=%:E!F07HV1'!7=G)' M;3-6+S58#0HR6%=T43!Z6FYD.6M30G9->FI'9DYI9G!G-'AJ<6,U-'AK+T17 M2F]F1$5S56LX;'EAW>4@O04)B9G=P+S)# M8E0O04Y%<%A4,7I0=WDO#0HU2G0T5"\W0DYP+S9*4VPQ2S9(4UEO>%1Q2UI) M,T9'2V1244$S1D=+9%)10C5D.%9F*U)V.$YF.656.2\V371A:#`W=%4O>%DUB.%$O54\Y5E!!;B]!0U5Y M,B\W0DXS+S9/=&%T-F@S<7(T1"]!3U-M,C,O64IV4"]!161A#0HP-BMW79V+T%%6F$Q6#`O#0IT6%)14$YX=GA%=6\Y-G%E0F8X M06MP;'0O=T)G;3EIG M9U-&;$UA8D9C3TI8545(>E9'3V,X,631J17EP3WE33"MO94MT3W5B#0IA-W0Y43A#-G!0 M8C-B:5,T:6QJ3(P M<3(X4#-M;#-.=EEY3F).4$9B:%5G#0I6;VQA3D1(27A56DU8>31!*U5E9W)' M,41V5EAW2B]Y53(R+S="3C4O-D]T8617:V]A;VY$-'%65UA+,'8V*UHV=$9B M=W=Y5%!$1DA'#0HX-RM:2WEQ05I',FAD>DAU9'%Q36YS;TAA<&-5-FES:G10 M3'9I79V+U)LB]!3DA7=%!%8D593"M)=FXK#0I2-C-I:D9/;W)M4%90 M3&9I="]Y3C-H%DO-4%@O-43%Q M=G`S87)0>%DO-42\V5E4X0R\X04I48E@O$8X+WE05W-567`Q1F-X-G`U-3A99CA!#0IJ,CA-9CEH8B]W0G1,;7-J M5'4Q8DAX:B]!3U!B=W@O,D8O.$$R,'5A>#E/-U9V45!0>#(V.5`Q3$XO,')% M,&XO04I(+T%-2B\Y9G,S#0HO<$AC5G0S+T%%%1Q2T%-+UFDP=W`U8S=8:DMS2E9V;#)U5RM80GIJ0C8U>%A0.$%WB\R9B]A3V]F6B]S,C-Y=DLK,GHW9&TS:F)J#0I'36-951B=VXO04YG M;3`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`T9&58.7IX5C1G2"]!8E`X02M2-C%P M5D9$9$A(:6-.2W$W>&$OE!V*TMV14(O-$1:+R]!0U!48D0T8G)P*W!R<4YP-'`X45(S:7=V M04I.=&UF:V1K6FAG,BM/5$=N3TTX9E=N5G%Q#0IA,%%S4&A:57!*>6$OF8O0T]A<"\P3VYI1"]V>EEF+TDQ2"]#3V%P+S!/;FE$+W9Z668O23%9 M,T\R,VUC;#A6+RM2=3A-#0HO=T18;&9F*VI,5W$K;CEQ-D16=F@V9%AV3&$V M,41X6#1G;6YT:VMJ:6):6G)T5GEH65E&=4%C;4Y/=G`W;6UX+T1K4B]C.%9E M24(O#0IW1WHO05!K971A5E)1,U)X-&Y$4W%U.%=V-BM2:F%J,W%R-$0O=T-3 M;3(S+T%'0V)Z+S!D83$P:VYW-TUN,R]&6&E!+SA"G@Y8617<7!R4D-W M*T9L4VMN2G(K=FMD-5)83B]W1$-/87`O#0HP3VYI1"]V>EEF.$%Y3E(O=VIM M<68Y1'`T9R\W.#)(+T%-:E9J8S=B95IY6'A8+S5'-W=Z+W="958Y+S9-=&%R M-F0R%8T9T@O04%'>B]W1&ME=&%64E$S4G@T;D13<74X M#0I7=C8K4FIA:#-Q%@T M9VUN=&MK:FEB#0I:6G)T5GEH65E&=4%C;4Y/=G`W;6UX+T1K4B]C.%9E24(O M=T=Z+SA!:V5T859243-2>5EJ1%-Q=3A7=C8K4FHV:#!.5E!!;B]!0U4R#0HR M+S="3C4O-D]T83975#1D;50W+T%)<3A12"]G3FXO.&HP>7D1"=#AC;4Y/8UHT#0HK=$]R5E4Q;VEC4&A: M57!+56UV-BM2,VQ&8S,O04U)-7%N+U$V94E0*R].:"]W1$DQ2"]#3V%P+S!/ M;FE$+W9Z668X07E.5TYZ='0U#0IN2F9&:B]K8G9$4"]!1C58,R]O>3%Q='`S M875H,6(T94A6-W4Q=711.%8K24IP-UI*231M,E=A-U9C;U='0F)G2$IJ5'(V M935P&$O M&MS1#1G=4UB+T8KE,K:C$V,T(R94U.6E`Q=#=,+S5(%@T9VUN=&MK:FEB8EIR=%9Y M:%E91G5!8VU.3W9P#0HW;6UX+T1G4B]C.%4K24(O=T=Z+T%0:V5T861243-2 M>5EJ1%-Q=3A7:DEV*VQ64$%V+TI48F(OG@Y8617<7!R4D4T9D-Y<%-5<$YF,3AJ#0IV2TLU=B]H2$Y5 M+S9(5'A"+W="*V)$+S5';R\T4GI64"MH,#A19CA!9FUW+RM2<7AU9'1V37=F M:D@O>#8K1U`K=W8X02LR;'I73G`S#0IA=6TQ;G=&3')3,G$V;C1S.%%43&)4 M969%3FQK=3$Y:DIN:3-'9FQD:&55$=VXO=T)F4Y2+W=J#0IM<68Y1'`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`R2TU504YX4FEN66]X44$S1D=+9&EJ1D%$8U59<#)+#0I- M54%C3CA63DPQ3%5R2%)(,&I4-6(K4S`Q2'HU66]P23!B6CEN;51)36I+1#AZ M'8X2#9W9G!C5U@O>5)8839L#0IQ35=S5S$O82M(3F)J M83ES6$EU-#E/94-A-5%G3FE)0U%L23-,3&I-9TEW1TA"*UI9+T0Q.7%U;RM# M-5HT2DQE5%=6*S%1471D3&A2#0I,2$I*1V=N,D1'-$9!2D1(.'!93G-Y=3)U M3$592VQI2C@X-S-04G=U6E8X3%0Y;E1T83EZ;#6TP-C1-3BLS:U&U/ M2TIL9S)/:D-25U5#27E/6E5(>7-$2%)B87@T='-*24QJ6')+>DIU-V$S:&AS M65A!>F5/F@P=W`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`T1R]W0U-O5S,O04=#3'HO,&1A,7-A>"]&5U(T1B\U2VIB9CEG:3@O M.$%2,7)795AF-S%$-2]K>EA-+W=$8TMN>2].2')U#0I+355!64HU2GHK;$

'E-8SA:3F97;G=G66]X4FIK2$IX-E5!64HU2GHK;$%":6I&1S`W44YX M>4UC.%I.1T]18VY(<%%!66]X#0I10F=N:VY0-E5B5'1!,TA)>'IX:S!!1TM- M55DU0GEC96Q!1T-E4V,O<%%!66]X4G1/,$1C8VI(4$=44FIK2$IX-E5!1TM- M54%92C5*#0IZ*VQ',#=13GAY36,X6DY!0FEJ1D=/46-N2'!10F=N:VY0-E5! M1TM-56)4=$$S2$EX>GAK,%DU0GEC96Q!0FEJ1D%'0V538R]P4G1/#0HP1&-C M:DA01U1105EO>%)J:TA*>#9505E*-4IZ*VQ!0FEJ1D'E-8SA:3D=/ M46-N2'!105EO>%%"9VYK;E`V56)4=$$S2$EX#0IZ>&LP04=+3559-4)Y8V5L M04=#95-C+W!105EO>%)T3S!$8V-J2%!'5%)J:TA*>#9504=+355!64HU2GHK M;$'E-8SA:3D%(#0IL=GA8+W=#4G@X368Y958O+W=#:DQ3<$Y(-U5Z M-'-F.&IJ-%DO=T-V2R\X02]2;'!4.4@W5CAR;6XK.'8P4CEV:S,K-'(Q6F,Q M8F]A#0IX9D)0+TI53%@OB]*;#5N+T%,:%4K6#5O.6)X4FEG1$)02D]F#0HP;S)N84)U M3U)J;FI*'E$:S0Y2T%$1D=+04U%.&LU+U-J#0IA9&]'-#5'3V5-;6=!>%)I:DA) M3U1J,&]!=U1Y5&XY2T%$1D=+3G`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`O=')4 M+T)0:%!8.5`X6DQQ*W-X-E9&8G@R33EQ<3)L,TI--TY*2D-W2C-224%!26HS M4%561T-W5F5L:4EZ;D=Y#0I8<#).361M5T=Q-%-D2T5R>61U:C=R>5!2-DM7 M:79O:C5-4VEL;V]!4VEL;V]!4VEL;V]!4VEL;V]!4VEL;V]!4VEL;V]!4VEL M;V]!#0I3:6QO;T%3:6QO;T%3:6QO;T%3:6QO;T%3:6QO;T%3:6QO;T%3:6QO M;T%3:6QO;T$X'!L='!&,4IR M,'1N1'!:5'DW:'(Q;%=%<3-Y-UA,9DQG-7AG.6,T510=VHO=T)G:3`O M.45P5WAQ15=P#0IY6%9M,FY89&Y"8G$K8FQ*-U9P6&Q82312:$EO430S8VM0 M,4A(1T,Q$QS#0I8 M951'4S@P2S1M.'-J>D)K1&$K,UDP2%=).5AH=68X05)R:7IU4QM,75. M;FU1=G-6=T-56FM/561'>7)%66)"=U%13T(Q2S$X#0I2*TDY4V$X=G9#.35A M4&%02$QA:6$V='-,1D9E,C!X:55*23(K5UI936QN2TEH4D5"-652=7@X25=L M,TA.CA*9CEG:3`O.45P5B]73DEV8BLV5UC9F.6-5;S9I=&]54$9/<7@V;C1E&1"4&$V.7!M$LP8VEK#0I"45=5-7EJ.49R3VIA6G)D M=6QVC=M;W@T93!983)D6B]S M;E1Z<350+T%"+V9::S@X#0IF2G,O,6U.,S-E3W94:G!2641"*TI-139A64Y7 M93AU1C!J4S1:5123W)+>4M*0T5/56-S061P=S8X M>D1*#0IR3C$T;VTK>39N8U=C5C=E86A9,G5R=&-04$A.2VE38EE"670K-VDX M<&QB16\U8S)46G=*9U$=6 M1SAW>49L8F)K175Z3FM9*UII97!Z5G%,4G1-:#%M8E9O9%!S-#E4;E1Y-6)T M245%,&DO3&=-*TYX03)R>&Y(03E"4EED#0IZ9T1R-S906E4UC.%I.3DE4,49O;W@X=T]4:DA39T1"4$I/5"M606=O<$YP,F=B:FM9 M#0HU-'EA6$AZ035/361+04-I9T1"4$I/5"M62G1/,$1C8VI(4$=444%T1D=0 M;4)Y8UDV54%92C5*>69Y;T%+2U1A9&]'-#5'3V5-;6QX#0HX=T]4:DA39T%O M;T%W5'E4:R]L4V)4=$$S2$EX>GAK,$%,4E)J-6=C;D=/;$%'0V538VXX<4%# M:6LR;F%"=4]2:FYJ2G!C9DU$:S1X#0HP;T%+2T%-13AK-5`U56TP-U%.>'E- M8SA:3D%#,%59*UE(2GAJ<%%"9VYK;DHO2V=!;W!.<#)G8FIK634T>6%82'I! M-4]-9$M!0VEG#0I$0E!*3U0K5DIT3S!$8V-J2%!'5%%!=$9'4&U">6-9-E5! M64HU2GEF>6]!2TM4861O1S0U1T]E36UL>#AW3U1J2%-G06]O07=4>51K#0HO M;%-B5'1!,TA)>'IX:S!!958O1GHO:V-F0R\O048U6"]W1#9-=$M84BLQ2'AC M+S5(2'=V+W="958O.$$K:DQ3:E(K,69,-7`O=DPY#0I%9F$U4"]U2SE76$Y7 M-D=S9G=,+T%-;%-T=CA!'E-8SA:3F96;G6-9-E5!64HU2GEF>6]!2TM4861O1S0U1T]E M36UL>#AW#0I/5&I(4V=!;V]!=U1Y5&LO;%-B5'1!,TA)>'IX:S!!3%)2:C5G M8VY'3VQ!1T-E4V-N.'%!0VEK,FYA0G5/4FIN:DIP8V9-1<>#!O#0I!2TM! M344X:S50-55M,#=13GAY36,X6DY!0S!562M92$IX:G!10F=N:VY*+TMG06]P M3G`R9V)J:UDU-'EA6$AZ035/361+04ER;WI,#0IB5$YA4GAY,T%1;4Y*2$M) M>EDT1$U!>%5%.5-!8V5H-E9Z2'=X37IE1G!7=30T-')G-G!Q6FM33GDV2S,R M-F9)5FE&3$%(;U-";C!(#0I3=&I79$QU.5%-6#)46$Y2,'995'4K>4IB='9Z M:D=F3FEF<&&IQ8S4T>&MF1$-*;V9#,'-5:SAL=S9A<'%A=$Y)1D1Y15@P M-$Q.#0IT05A*-FY!03E!2UA59'1$<38K4&8R=W8K4VUA6B\R0TEV.$$P9$Y8 M,DAI=FHS.7-0+VMP;6UF.6=I3"]!3DA45DTY:398>$@P-3A,#0IH+WAB4'=J M+T%.9VDP+SA!4DM6,4=+-6XT5VHO04ET;#12+S=!.6XO04]I57)P.%932F4T M;4M-575+355X0UER;"]H8U`K3%HK168K#0IW4F%F*VE5%%!;4M-575+355!#0I*:6I&3&EJ1D%#66]X4S1O>%%!;4M-575+355!2FEJ M1DQI:D9!0UEO>%,T;WA106U+355U2TU504II:D9,:6I&04-9;WA3-&]X44%M M#0I+355U2TU504II:D9,:6I&04-9;WA3-&]X44%M2TU5=4M-54%*:6I&3&EJ M1D%#66]X4S1O>%%"-5(X6'8K4G@X3&8X05AL9B]!4&]Y#0HP<$Y(-U4W-'8O M.$%)-"M&=BMV2R]W1"]!15IA53-2*S%F3#5P+W9,.45F85I0.$$W:796;'I6 M=6AR2CA"+SA!2E5R8B]S1#-N+V\V#0HP69!6"]!0U9/,B\W03DU M+S9/=$MJ3"\X065O+U`X;5AM6"LT5E!L*V%066-567!C55ER-G,K245X4FEL M>%)I9T)-55EP#0IC55EO051&1TM81D=+045X4FEL>%)I9T)-55EP8U59;T%4 M1D=+6$9'2T%%>%)I;'A2:6="3559<&-566]!>CED;C!Y,3!I-FLQ-E=Y#0IH M,'-P-61W,39YG9W;49L+W=H9R]S5%35S=V<75P MFMQ,C!L8VIO#0IC16HP2G!D4CE$<3A6.&0O=&EF.&Q-,'HO M&-6.&0O=&DO.&Q.,'HO7EG=#!F3GEK.7$P>GER:V-)=VM526-B=5-(-FIJ#0IJ0F$R M13EZ06PX8C)T=7I,9F%8<71N2DMG97E394].6'9G6EDT;#),=DIJ2F5E0F-4 M95=2-6=Y0G1F8G,V0G)%97-1,U`K:EA&;F17#0IK,S)E-71B:EHU:TPW1F-! M;$=:1&Q*16)+&12,C!Z;S!S4W)B45$T9EEZ2FMM1FU',6TK5FQZ9S5!06%/ M:'A8#0I-9D,S+VMM6&A(+W-$,F8O04M*4W1$5V1(=G11=6QL=%!%5W$V6$=% M0VU',&IT5U)J:VYC9DYH9',X-#1/3T)X,7IN+T%!=4)0=W@X#0I)64I(+T5O M51K+VQ414II:D9',#=! M3C5Y369.>&LP=3`W9V-N1T]N%)I;#)N8T1K-'@P.6%!<$)02D]4*U9!0UEO>%)T3W=$96-J2'IC M6DY,=$\T2$IX:G`V#0HP04II:D9+1DE*-4IY9GEP3G`R06)Z:UDK8FI*;T%- M55EP9'`S035/36105V=+451Y5&LO;%%!;4M-56)4%-H4T-E4V-N.'%4861G1S@U1U!M-'EA041&1TM8861W M3U1J2%0Q;T-K13AK-5`U54%*:6I&1S`W04XU>4UF3GAK#0HP=3`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`S035/36105V="3559<%%P0E!*3U0K5DIT3W=$96-J2'IC M6DY!0FEJ1DQT3S1(2GAJ<#8P0E-#95-C#0IN.'%!17A2:6IA9&='.#5'4&TT M>6%8861W3U1J2%0Q;T%41D=+54M15'E4:R]L4V)43-!46U*2EI#:4TR3T%Z04U60E!59TA(;V5L M#0IC>#A,>D\S:%=6F)11GEE<'=!4%%# M;#%(,$]R>%AX,2LR3B]W06Q.,'HO#0I!3$$X6"]O-F5VB]!2DIJ-%$O-T$Y;B]!3VE5%)I;EEO>%%!,T9'2V1I:D9! M1&-567`R2TU504YX4FEN66]X44$S1D=+9&EJ1D%$#0IC55EP,DM-54%.>%)I M;EEO>%%!,T9'2V1I:D9!1&-567`R2TU504YX4FEN66]X44$S1D=+9&EJ1D%$ M8U59<#)+355!3GA2:6Y9;WA1#0I!,T9'2V1I:D9!1&-567`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`U1F\O-%)J5G8K#0IH-#A29CDK3E`O.$%K5VDT5T]M>%)I M=4$X1F%:F8R148Q2W-6=EE"07IX<7A#9S)X3TUN M:DI.8E`O0TUA#0IT+S!02&E,+T%,.&%F+SA!271&=W-D3FEJ1F-Z+W=!27AQ M,R]!15!(:4PO=GAP+R]!36DP9CA)>'$S+U$X94EV*R]';B]W1'E,4F-,#0I( M5%EO>%A-+SA)>'$S+U$X94EV*R]';B]!4'E,4B]W:D=R9CE$>#1I+W=#+T=N M+R]!0TQ28TQ(5%EO>%A!94-T33%Z6%!"=6&MM=&XO:$=.5R\V2&IX1B]W0BM.4#A!+VM7:317 M3VUX4FEU6B\T4FI6=BMH-#A2#0IF.2M.4"\X06M7:B]!25)J5G8X06]E4$58 M+V9J5"\X035&;W5&:G!S55ER;68K15DQ8B]O95!%6"]F:E0O=T0U1F\O-%)J M5G8K:#0X#0I29CA!9FI4+T%0-49O=49J<'-567)G4$)7;6$U'$S+T%%4$AI3"]V>'`O+T%-:3!80W@P#0HR2TU6>E`X07=J1W)F.41X M-&DO-SAA9B]!4$ET2"]#36%T+S!02&E,+W9X<"]W1#AI,%A#>#`R2TU6=TAG M$8O,S0P+R]!3U)A4"M%63%B+V]E4$58#0HO9FI4+W=$ M-49O=49J<'-567)G4$)7;6$U#`R2TU6=TAG$8O M,S0P+R]!3U)A3&A9-F)&1TLU;B]H1TY7+S9(:GA&+S,T#0HP+SA!*U)A4"M% M63%B+V]E4$58+T%(-#`O=T0K4F%,:%DV8D9'2S5N+VA'3E$8O,S0P M+R]W0U)A4#A!:$=.5R]W0V@T.%)F#0HY*TY0+W=$:U=I-%=/;7A2:75!.$9A M6G)M=65$9$(Q83'%X0V$]-;FI*3F)0 M+T%!:D=R9CA!#0I1.&5)=BLO1VXO.$%Y3%)C3$A466]X6$TO=T1#36%T+S!0 M2&E,+W9X<"\X03AI,&8X27AQ,R]1.&5)=BLO1VXO05!Y3%)C3$A466]X#0I8 M32\X27AQ,R]1.&5)=CA!=GAP+R]W06DP9CA!0TUA="]W0D1X-&DO-SAA9B]W M1$ET1G=S9$YI:D9C0C1+,'I83F,X1S9$<3$S-#$Q#0HU3&TO$8O,S0P M+SA!*U)A3&A9-F)&1TLU;B]H1TY7+S9(:GA&+W="*TY0.$$O:U=J+VA'3E$8O#0HS-#`O+W=#4F%,:%DV8D9'2S1$=VQP;75A>'!5.7IC*TYD95=3 M3R]V8E5#3S-S04YS3C%,0W`U=&IY5FI"4'9N<#!R6B]W0T59,6(O#0I!2TAJ M>$8O,S0P+R]!3U)A3&A9-F)&1TLU;B]H1TY7+S9(:GA&+S,T,"\X02M285`K M15DQ8B]O95!%6"]!2#0P+W=$*U)A3&A9-F)�I'2S5N+VA'3E$8O M,S0P+R]W0U)A4#A!:$=.5R]W0V@T.%)F.2M.4"]W1&M7:3173VUX4FEU03A* M85IR;7-A5E!C,U!J6%AL#0IK:G8W,C%!:G0W041B1&13=W%E8EDX;%EW5#'DS25%M M2DI:#0I$1VI.:F=-=T1&450Q24)X-DAP6$PO0S1Z3C16;&$W:FII=51Q=7!M M5DEP1$EI=#EV=4UH5TE5"]X82]W9B\R0C=0.$$Y14I8 M531R;"]H5B]Y4R]W#0IF+S)"-U`X03E%2EA5-'!O5$5X4FEL>%)I9U%M2TU5 M=4M-54%*:75B=5!'=6=13F@W>5)G79%-WI-<6M1;TAJ M#0IK1RM1<7`X='E#47!)-EA&95AE3SE-:W1P=D=.;EDV6&-N+VA)3D)7=W-2 M6C)J=DA*9&PW=W5*1U)3#AG8D=X=%ER M9S=N5U)R4'A",'5X8E1.86ET.4MV#0I*1VEN3VU4<$A,3CEM;%%Y3DMY:4U1 M0EAD0F=L;FM:4T%Q3'5K-S-&1G=%>%)I;'A2:6=1;4LU=30X839"03)(=DI' M0W9+:W)X,G-Z#0IP8BM82SA4=DUY<5)#9V5/46(U0W%N>3-)2D-K:G!C5C5D M-#

5,R;3A9,F1J<&1Y9CA!:$E.0E=W$LU=#5&:&MK M5$\K3DII=FQU-C=8>6ES5T=X.&=B1WAT67)I3'4T#0I/<"]%3%(U3$9.5VU& M:3@P1GI$9#9F3$1A44PU8V=.>D9).&%H-6DT:FI"5C(O9'E38E9W>DY88UEO M=4%M2TU5=4M-54-%>%A.,TAJ#0I844E'=SDU27=6-55L94\Q;61,9GDU6&ED M-6U64TE51'AY1&9)5E4K5S5"255K9$QI=DQV2&5M4UG-D3'54+T%- M2D)O2S)�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`O1&5N6#)J6$M8#0I67=N3S%73UDPY-'1B=$8W3FEH34=H3559<&-566]%2FES1%501G5J,DYX M8UC9X#0IP,7A-3$=Y:VYK9GER;4(S:V-22WI(1550,VHR5E8V-U)28UIS6%!I M8E-R8E="<&LQ>$E,;F5K5$],95)O635(>'-J95E,-6%/,C5-#0I)>D)J=E1! M3SEC-U=+.#`Q:3%U+S=9,7941G-B,7)N569%5VTV;F)/;'1),$Q7.%`R3'I' M85E$>3!)*WI49DMZ0FIT1T%D>34Y37A2#0IC3$-9;WA3-&]X44E41EET-31N M,&%Y:VMJ=37%V6&%+3&I/:F)6.5!86&\Y1DXS1B]AB\Y#0I%2EA5,3A394@O,FM01BMH841P=6LR M;6YA03ET65&-P1V]51FE*44TT07IG0W(O+T%!,4PT,B\V0F9H M>B]W04(U+SA!#0HT.5)C9&HW36]R-'HO=T-'<&9',R]13#A/9CA!9U!0+T%0 M2'%0*T=P9D6EV:E`O:'%8>'0O#0HP M0R]$;B]G4%`O.$%(<5`K1W!F1S,O44PX3V8K03@O+T%-96]U1FHW36]R-'HO M-&%L.&)F.4%V=S4O-$1Z+SA!>#9J+T%)86PX8F8Y#0I!=G'0O=T)!=GB]! M4'@V:B]H<5AX="\P0R]$;B]G4%`O.$%(<4QH62MZ2TLK32\K1W!F1S,O44PX M3V8K03@O#0HO=T%E;R\T86PX8F8Y079W-2\T1'HO.$%X-FDT5U!S>6EV:E`O M:'%8>'0O,$,O1&XO9U!0+W=$2'%0.$%H<5AX="\P0R]$;B]!241Z#0HO=T1X M-FDT5U!S>6EV:E`O04EA;#AB9CE!=GB]!3T=P#0IF1S,O045#+T1N+V=04#A! M+TAQ4"M'<&9',R]13#A/9BM!."\O=T%E;W5&:C=-;W(T>B\T86PX8F8Y079W M-2\T1'HO+T%"-FHO:'%8#0IX="\P0R]$;B]G4%`O=T1(<4QH62MZ2TLK32\K M1W!F1S,O44PX3V8K03@O+T%-96\O=T-'<&9',R]13#A/9CA!9U!0+T%02'%, M:%DK#0IZ2TLK32\X06AQ6'AT+S!#+T1N+T%)1'HO=T1X-FHO:'%8>'0O=T)! M=GB]!4'@V:3174'-Y:79J4#A!-&%L.&)F.$%13#A/#0IF*T$X+W=$ M.&5O+S1A;#AB9CE!=GB\O04(V:3174'-Y:79J4"]H<5AX="\P0R]$ M;B]G4%`O.$%(<5`K1W!F1S,O44PX3V8K#0I!."\O04UE;W5&:C=-;W(T>B\T M86PX8F8Y079W-2\T1'HO.$%X-FHO04EA;#AB9CE!=G'0O=T)!=GB]!4'@V M#0IJ+VAQ6'AT+S!#+T1N+V=04"\X04AQ3&A9*WI+2RM-+RM'<&9',R]13#A/ M9BM!."\O=T%E;R\T86PX8F8Y079W-2\T1'HO.$%X-FDT#0I74'-Y:79J4"]H M<5AX="\P0R]$;B]G4%`O=T1(<5`X06AQ6'AT+S!#+T1N+T%)1'HO=T1X-FDT M5U!S>6EV:E`O04EA;#AB9CE!=GB\O04(V:B]H<5AX="\P0R]$;B]G4%`O=T1(<4QH62MZ2TLK32\K#0I' M<&9',R]13#A/9BM!."\O04UE;R]W0T=P9D#9I-%=0B\O#0I!0C9I-%=0B\T86PX M8F8Y079W#0HU+S1$>B\X07@V:B]!26%L.&)F.4%V=S4O=T-!."\X03AE;W5& M:C=-;W(T>B]W0T=P9DDM+*TTO=T1H<5AX="]W0D%V=S4O-$1Z+T%0>#9J M+VAQ6'AT+S!#+T1N+V=04"\X04AQ3&A9*WI+#0I+*TTO*T=P9DB\X07@V:3174'-Y:79J4"]H<5AX M="\P0R]$;B]G4%`O=T1(#0IQ4#A!:'%8>'0O,$,O1&XO04E$>B]W1'@V:317 M4'-Y:79J4"]!26%L.&)F.4%V=S4O=T-!."\X03AE;R\T86PX8F8X05%,.$]F M*T$X#0HO=T0X96]U1FHW37(T>B]B3B\U2VAP9B]!1T)O=B]2.#E(+T15=FIB M+V]&*TA0.$%W2&XO05!J,65:9D4S>#EQ;GA&,39$5G1B9W-O#0I,;4'1087)T7V%C,64R86,T7S5F,F%?-#1D-E]A8C-D7S$Q-&0S9C`T9#)B.`T* M0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B]A8S%E,F%C-%\U9C)A7S0T M9#9?86(S9%\Q,31D,V8P-&0R8C@O5V]R:W-H965T4IX M1D1+0FMA14E),$MX=U)64S!F06M-,DIY9V=K2T9H8UE'4F]L2FEC;TM3;S!. M5%DS#0I/1&LV43!21E)K9$E357!45D965U8Q:%I7;4YK6E=:;F%';'%C,U(Q M9&YD-&58<41H25=':#1I2FEP2U1L2E=7;#5I6FUQ2VIP2U=M#0IP-FEP<7)+ M>G1,5S)T-VDU=7-,1'A-6$=X.&I*>71,5#%.6%#AV4#`Y9F(S*U!N-B\X44%(=T5!#0I!=T5"05%%0D%114)!44%!04%! M04%!14-!=U%&0F=C24-1;TPO.%%!=%)%04%G14-"05%$0D%C1D)!44%!44HS M04%%0T%X145"4T5X#0I":$I"55%D:&-236E-;T5)1D5+4F]B2$)#4TUZ579! M5EEN3%)#:%EK3D]%;#A28UE'4F]M2GEG<$MJ53).>F"]W06LX.$PO#0I!4%E+=&8X03!3=&%0:4=Y=3E2,&4T=$Y/=G9S1GI,=$%N M,D8X3'5"65E6;%EB;$)82W-R1$]145%$6&-K%AD-G).65%A:%I$>DQE0S(P<4-/,DE6-&)*439R M2DYT15DK>D9.=31-0TUG1EGIN:$MW,6I74$-U:F%N#0IC*TQD M85=E.7-O8FU2631,24M'9$%X07IB:S1Y9E4P.4]X2W9A.7I6+W=#148X2B\Y M0W9O6"]G=F@O.$%I85`K148X2B]W1%%R-D8O#0HT3#1F+VEA6"]H2'14+S9' M+UAV*R].;"\X:C!F.$DY<68O43,V.2\S-7-V+T%*2&]S=7=89C@S-6EF.$%# M0RM%+W=$;U8Y0R\X1CA0#0HO=T%44B]W9W9H4"]!2T9F478X07=8=R\O13%L M945R1%=.63A+-DYQ9'HT=#%P6C6AU6D9J9W-G;UHP1$5$3G54:DHY5%=T M+W=J#0HR<"\Y1&9R,R]F;7DO=T1K96I4F9M2B]W M9W9H4"]O5CE#+SA!0F9$+T%013!F.$E,#0HT5"\V1F91=B]"9D0O=T1%,'8X M07=J,G`O=T11,S8Y+S,U%`K148X2B\Y#0I#=F]8+V=V:"]W1&EA4#A!:$)F0V8O47(V1B\T3#1F M+T%);7-R=VQ987AR2&A84G14=69&=71,4&4R54YZ27-C1FM&1$]G66=:='EC M#0I:4'%A,78X06A(=%0O=T-H=C$W+T%,.#)8+WE04G`R0C-7;DXK66XO04%G M=FA0.$$V1F91=B]"9D0O.$%%,&8X24PT5"]W0VA8,$PO#0I!348X4"]X3DPO M=VHR<"\Y1&9R,R]F;7DO=T1K96HO:$AT5"]!3VAV,3%`K148X2B]W1%%R-D8O#0HT3#1F+VEA4"M%1CA*+SA!47(V1B]W M0T,K2"\T;6PO-%(W52\K:'8Q-R]V>EIF.$%Y4%(O=VHR<"]W1%$S-CDO,S5S M=B]K96EY-T)D#0HO=T$S-6EF.$E,-%0O=T-H6#!,+T%-1CA0+WA.2"]#0RM% M+RMH6#!,+W=!1CA0.$$X5%=6-%-S3EDQ:G=R;S)P,U!I,U=L;G9B2T4-H;E%-44TR-4]-;C%.83,O0U!A;B\P3BMV9CDK8DPO=T-2-DY/=T\V M,#5V>D4O-%%8=VXO,$LK:&8K0RM(+T%/2F\O=T-%#0I&.$HO.4-V;U@O9W9H M+SA!:6%8+T%)4C=5+SA!;V(Y92]W0R].;"\X:C!F.$DY<68O43,V.2\S-7-V M.$$U2&]S=7=89C@S-6EF.$E,#0HT5"\V1F91=B]"9D0O=T1%,&8X04-#*T4O M=T1O5CE#+SA&.%`O=T%44R\X04-086XO=T)$9G(S+T%(-7-V+VME:B]H2'14 M+S9'+UAV#0HK+TYL+W=$23E&;#)#-R]M+TU4+T%)45AW;B\P2RMH9BM#*T@O M=T-*;R\T45AW;B]!3D-V;U@O9W9H+RM*&)R M4WHS=&Q$8WE,2$):0E%Z;T=)1V)C;D=4-FUT8B]H2'14+S9'+UAV*R].;"\X M:C!A9&=D,7!Z9FU*+W=G=FA0+T%+1F91=CA!#0IW6'6AU6D9J9W-G;UHP1$5$3G54:DHY5%=T+W=J,G`O=T11 M,S8Y+S,U$Y,+W=J,G`O.41F%`K148X M2B]W1%%R-D8O-$PT9B]I85`K148X2B\X05%R-D8O=T-##0HK2"\T;7-R=VQ9 M87AR2&A84G14=69&=71,4&4R54YZ27-C1FM&1$]G66=:='EC6E!Q83%V*T5E M,5`O;V(Y92\W.#)8+T%-:C!A9&=D#0HQ<'IF;4HO=V=V:%`O;U8Y0R\X04)F M1"]!4$4P9CA)3#14+S9&9E%V+T)F1"]W1$4P=CA!=VHR<"]W1%$S-CDO,S5S M=B]K96HO:$AT#0I4+S9'+UAV*R].;"\X:C!76%E,=BMB.'A0*T5&.$HO.4-V M;U@O9W9H+W=$:6%0.$%H0F9#9B]1$Y(+T%!9W9H4#A!#0HV1F91=B]"9D0O.$%% M,6QE17)$5TY9.$LV3G%D>C1T,7!:-S)Y:'5:1FIG%`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`O>$Y,+W=J,G`O.41FF185VA-,2]D4UAC.%8W95%A-#0IS86MH1E9C-U58;T)2 M6F1G=3=8=5)F.$%#0RM%+W=$;U8Y0R\X1CA0+W=!5%AZ5"LP='!/;F%0-#=S M3&938D,P51V=W0O,D-R6"]W M0D5R6%(T#0IR;G9H=B]Y5'9W="\R0W)8+W="17)84C1R5F)'170R3GA2:6Y9 M;WA42DC1B+SA!#0I*3R]# M,R]92W1F.$$P4W1,<58P3VAX4FEN66]X5$I'-&]X5'-566]!8FEJ1D]X4FEG M0G5+354W1D=+04%1S#0I566]!8FEJ1D]X4FEG0G5+354W1D=+04%1S M55EO06)I:D9/>%)I9T)U2TU5-T9'2T%'-&]X5'-566]!;V$Q#0I0<#%T<&1Y M*W1Y,FM7;6Q03&YA-UI6:4MT.'4Q:3-'1&Y'1#%Z:7-$-%EF6E`K15-(.6UE M4CEG+W1#+RMZ+UHX958U9C)Y8F)S>'AT#0IX:D=/358Q3GI),$YT3$I(1$I/ M-DE75TM-<4=K24@S4G5)1U0P-4E(<5)83R]$;5)P=D15:W-K36M$=G%7;W,P M56A5=$=497HO2V1P#0I)>4]N0DDY0V%N<5@Y:S981F9+6#=6,R]!0U545'8X M07-&4B\K:G!Q*W(X5CAO+W18+SA!2E).3R]W0W=62"\V3VUQ2S-W;75'*TTK M#0IJ4&AT+W=!:S8X3&8Y9W$Q+W=$4DLQ=&%J9&993=8>DQ$ M3S50;7,S-S%08THR2&A(5%IT2#A+84QP;#`P8C-&;%I1,C!J4FML4WE2#0IQ M<$E*04]-:C!&2DYJ:VML;V%T8S4X3G8K4V1E1G8X07-&5W8O;VQA=F%T<%8U M9EA+>5=U=F%N<'E"07!I=%DW6FQ*>69M4&U23V,X#0HT-C0T2$A83DPT8FI0 M=S8X3&,T+S1L5G`O=T-I5G`Y4E#$U<$UC05I0#0HQ;T-W5594,6%A*V=T,4]L,F%8;'DW8E%S M'%-16QN8F%Z06-91S%73U-/04US3V)M.%A82G1D3TYP<&E'-G5R:64Q M:V$U;F5/#0HQ:&QH;#AL:TTV>%!G=DIX2'569"]W1'-T:$-M-T155WIS2TMX M9D9MDA'07!"#0IF85%# M4FYA37-+5CDT:79T4#%B5')7*S`K,%)B<&MH0TIF8C4U6$\S93!%5WI-:U5: M8V)N2E%H5F1T;4%U-'5#:3)D4%)82V%6-'5)8:DC%O>#$U<&A94VEJ#0I(04=4.6%82%!79TQ#555U3W9.2FIG1$HK=$%7 M0VEL>'HQ;W@Q-6]#=VQ&1T]!36XV,'5/971!5T5O<&-D96%42$%'5#EA07-& M1DQJ#0IN69R4S0U-C!"65-I;'@Q-7!-#0IC05I0,6]# M=U55=4]E=$=/=DY!5T5O;WAW0FLO5VQX>C%O0W=L1DQJ69R449G M;W%N'165&1.3VMO#0II2U)J;'9N4#-"=$)"645%06MG M<5%#4$]7=3E:;74W9E%T16QU,F=U8FEE-59,:2M+5'A7:V-504U-.')H-6]J M23@O;4%J37%Q,&$T#0IJ>51%;3=&4FIC.5-O7EY23`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`V9CEK.'%%,F@K,4XY;DUB2G5M.'I: M>3AA:S1J2$))1T0X,6-89F5%+T1I-3(V0G!!*VQL2"]!4$4P#0IF1'943$14 M=FE40TY/&Y!-39N.#9*,#-(8TM72592,E(S M;7$K1U`W56=V,G4W=GI,>30K4TM2;W-X#0I246@Q8U%E6&XU;S,R<4I2:T=5 M6D)+<4563G948E0W1'`Q%)I M;EEO>%%!,T9'2V1I:D9!1&-567`R2TU504YX4FEN66]X44$S1D=+9&EJ1D%$ M#0IC55EP,DM-54%.>%)I;EEO>%%!,T9'2V1I:D9!1&-567`R2TU504YX4FEN M66]X44$S1D=+9&EJ1D%$8U59<#)+355!8V@T.3$W5$Y/#0I&<'!7#$V93%C,TAQ6&@V5%1V-U!4-&-8 M0G-03C@O=T-Z9EID4#AR>DUB9"LS#0IZFY)5FE3065H2DEQ6%%T6#!(>$1R96XV6$XT M5FMT3&EW=#)U8D)R>3-T;5="63)I56E);S=L0T,P94U!9$(V5D1F.4MZ#0HO M0G8O04-5<3$O-T)6,R\V3W1A9%-M;V)%,$U42W!,;&$O4"]!1%!4;W)E1T=3 M6C1O:U(U;CAY5FQ507E.=$,W;5!C-U956E!9061Q#0I,83-H=&)A2S-T66MH M=#1K16-C56%H5E)134)10G=!0GAI<#A567)--FAU2TU5-T9'2UE$8U59<#)+ M355!3GA2:6Y9;WA103-&1TMD#0II:D9!1&-567`R2TU505HK=%0V9&)A5F-V M&I'3TU6,4YZ23A.=$Q,2$1* M3S9)5U=+37%':TE(,U)U24=4,#5)2'%26$]F1&52-79$37-S:TUK#0I$=G%E M;W,P56A5=$=497HU53=34FMD3T-2-D4Q4%5R-THP,DLK5'8RG5X M24%!-D%:2DA*255$;&E!#0I#4FDO1%0O:VY0:%@O&TQ-WAH MDUZ1U%215EN9U!Y=50K M.$A(1&)D+U1,,C,Q4%1B4R]S6E!.=$QQ2DHT6DYP6&-J04UP#0IW8T5:0DA" M5-P M6DDQ56M%9TA'4C9#:VUX>5-7>'$Q>F9W,2]W0U-C*T9F*W=6868K:59Q+W$K M:S-L.6-R3&$V+W%E#0IM;T5#;4LQ:G1M5FIK+TUF3FEC-35X,7AW3T]U85!W M,4)0=S0X2S@T+W=#2E9A9BMI57`Y4E69R44TX,2M*+R]),RM'+SA!E%)4VEJ0G="#0IK+U=L=V,O,&]!4VEL05!.2FG-:.%):=BML55!";B]!0U5Q#0HQ+S="3C,O-D]T878S+U-Q2&=V+T%*2U9A M+SA!64IU+R]2,7)65CEI8T@X82MF-4AQ=$9+065A5$)W0FLO5W5C.4U+2UA" M>B]!16]!#0I03D%H2TM-2$%'5#EA6$)Z+U-G0DM+54$X,&U$9T1**W1!=V]P M8TA0.4M!1'I125-I:D)W0FLO5VQW8R\P;T%H=51-='1+,7)(2$IC#0I"0UDP M:V-O7@R9T1*-CA!1#!!<&13#0IR939D4%AY6BLQ;B]!36Q',##15+S="3G`O=T-I57)P8U9A,DTU8G-B M:6I&3WA2:6U33GA83B]$468X5S0X2R\Y9VTP+SE%"M+4"]!0TXO:'(OE1U,5-F1DPO:V(O1%@O048U M6#,O;WDQ<5!4=3%D1D$X-T'5+359G+T5'-74W2'=.EA-33!A;WA6;S!,9UED M#0I7567(Y M;&UK0DI+;&=1,%,T,FMD5&Y01T,T-T7AZ5SAY0U-/5TYG M>75P1U%W231)235Z46YC5&I99FEJ1D]X4FEM26)I:D9/>%)I9T)U2TU5#0HW M1D=+04<0F\V.31O=&1'=5HT<&)3.'5%=$QC#0I8;#=,044R,F-"3#1K M9F-YB],-51#3C!2,"LY=3-$>D50,V-94$)Y0TM,:%DP35592LP5&)P5F=H=#%4171W-WAR3$=%0D]0;FED2DUK9TMP2F9: M=&9B,'5+3&%)I9U$S1D=+9&EJ1D%$8U59<#)+355!#0I.>%)I M;EEO>%%!,T9'2V1I:D9!1&-567`R2TU506599D90.$$U1S=W,2\Q-5@S+V]Y M,7%,5'4Q5&9&5"]!2D%)I=5DY36AU66UM='!9;S5P24AD0W%Y M>&A3,%I)-%EB9U)K9&514C9G,7AT:&-A,7$O=SDX3S9N1F9A:#ER;3`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`R:W)K9$]#4C9%,'5P6#)4<#A6.&PO=&$O M.$%*4CE.+W=#=U1(+S9/;7(V#0HR>%AY5"LQ="]W06Q(,#,O04Q"368O;S9A M;W$O0V$P4&I0<$PT6FHO04ET>#15+S="3G`O-DI3=6=U<&MT6E(0T9M67E/<41";&I"05EN M3&-!9T5J8S!Y.71T5#`R,'8W1U1Z8E,V:5-E#0I'5&%6,TEW1$MC14%J24DT M4$YC2C1E,"]73D@P;G=:9'IA2F546$=M84Y*<&1Z6E%Z465CC1C1G!" M1U4O,&1U:C=V;E0U9G9B#0IE=3A(-EI.;S-H3%).3'5M:F4T&MD=TM38D7-T#)Z2WAY9FU0;7=U,F5C9&-C1&IR M;6HX3D)N-&(K1D]C9CA3;3`O.$%22U5D4F1$<$U566]X>FY0#0HT54%D96,O M,'%H0FEJ1D'HV*W1'3V,U+T-G07A2:6=$'(U+VME=%EO>%%",35Z+U-J M861O1S0U.697=6,Y4358>#EQ=F@R,S`X85(T;FMU+TDQ3T]29DIT67)H,VMJ M#0I5FUR-&PP6%I)=F$U-&DX2&%V8E!"<5(X4FU*#5I2W`K6EEV56HX5%A/86HS<6XT1R\U2UIB M9CEG;34]S3559 MGE-02M'8VM%079R#0I93&%83B]&1TLX-V)6.5E4=V1A:U@Y-6,S M:F%Z9&%E,'1V2$(Y=&YJ4S5N:E%1<7EI175"1VAC&\W:E)K=#5$3D=Q2TQQ4G'HV*W1-;3%J13AB-F1E M87@T4#%R5$Y.1G5B=2MT2DQ61&-31TY&.'A3#0IP66M+>#1"2GAJ:VI(1V-J M1#A394AD63%8*S`O2E14,"]T>E-9.4QV9#EW+RMH-#@W3'AF=2\S,R](=S-$ M958Y=V,O3CAT5#1N871Q#0HY;')U:%=7:S9R4'`P5GAB,U5S>&AI:&1N2TY! M1B\Q:4YG1'I'-EER271B:GA$3FID-'4Q6693,W-V.$$T>%9+1&YS6GIR>'!A M4UHR#0IN:DMX,6I5.4Q&=G!T=G`W4W@V:&$S0V9A3'0T=S!C37-C>'E213)' M3$E5>'E-2&1N4'DQ3&4V9G%5;FIN4W13:&ES>G!L=EDS1G1+#0IZ5'-*=#!R M>$YL53)&4T(U0VIL:#DX+S-F;31Q-FPX45):,BM,=%A0,70W3"]W0U(V;CA# M-G9R8W9J:5!4=%(Q<38Q0S!K,#8T;C)4#0IW=TQT9$I)1E5G>'AQ96MJ8TA) M;VQ48V1X53A20V\W4EHP1B\T879,:&(R-G0U8F4P=G8S:U9P1F)-66M31C5L M:VU":U5":$I07A(-7IG04TK,&-,:S5/0G=-,5I!-C@U+W!2=$\P1&-C*W9R53).5S=N M#0I0*U!9-%@X2S-F,G$Y$1T1S5*4&UJ,#9'#0IS<41X=#1I;"LW-&4P;FXQ,6E4:B]W M06QQ1D9T-D-D4TU&851+3VE7=FA:+RM%;6QD9$EU+T-D<$9&94XO6G-1+W,X M8F903$LX2T9L#0IL;5)!:D]E9#,W9VA&2TM3860T9'5.0G-T06QS;2MZ94EM M=$I41&\V069:-')I47E34T0U1&A,5DAU4&Y!2GHU5G-!>&165U11;3A:#0IE M2DEL06)W+W!*23=J5TI/9B]*87)8:%!X<&8V>#1N6%-D4C!I,G,Y,7!,9$I, M0F9.4&Y9.%-L4T1%;5`Y841N2C9(:6AW83-#3F%-#0HS84QU6"]"5C5#.7IR M3FA&85AI4S)L>"LO=3=N0FMU<$-7579)44%!-45964M/0D,X0EAAB]3:F%D;TD0T<2]W M1$DS94=V#0HK=DLK+W=$4FQR54]N9'%N*TLS+T%#3C-H79V+T%%6F$Q M0G`S870V0C5U3BM)$=#+VE,-2]K97,T;WA10C$U>B]3:F%D M;T##0O=T,S4S5R2S`W=%DAR0FEJ1D=/8S4O0V=$C8K=$=/8S4O0V=#2S9->3(P6ES M,D]!5T%*07HS=V-E:#96>F9W,4UZ94=*5W5O-#0W9S9N<5)K#0I33GDV<3,R M-F9)1$5!:UHW-$=F461+,3E9,#(V=B]+*WDV,7%';6)--W9S:5%.-6UC67HU M%1Q2S5J,41Y M-S1Q+SAJ9#1A#0HO=T-V2RLO.4=7=%%A9C)Q>#A6+RM2=3A-+SA!6&QF9BMJ M3%=Q*VXY<39+0C5U3BM);#%(=E94=TPO>55Y,B\W0DXS+T%/:G)7D9'2V126$UE M<6-V-#$Q>G79V.$$P6F$Q6#`W=%=L3VYZ M;DY8>$QP3WE23D1Q=F=7,3!K-F-I94DQ="]T1%AA=3%P<6AM:FQB3S4P;$LK M66AB8S)D#0IR1$\Y."]E8D\S-%45Y8W5C=BLX9FXU,GIH-F@S<7(T12\U2V)B#0IF.6=M M."\X05(Q79V+U)L3$O=T-W M5&5F*VIR5W)L+S!Q#0IP-$8O-4MB82]W1%E*=E`O045D83`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`X6#9W.%8U8C--,&AL=#=)CE"*TTQ9TYF=4UB M+T='51V8SE(1#546'A&4#)S3%&@P;69X9'%Y,GHR M33EY5U,S$(O,S5S4#A!-4=O+S12>E90*V@P M.%%F.2MB1"]!3U)Q-W)N;5FLO:78O04UJ9C1:+S8X$]';%9D-'1F M,3AJ1C%$=E98=T8O>54R,B\W0DXU+W=#:G)7=6QK*TAF;69F.%9E240O=T%" M%E89T5M,GI0>4]Y37=W8F9( M2FI4;D=E4')4<3%63F%)5TAW$(O M#0HS-7-0+VMA:B]H2$Y5+S9(5'A"+S,U4XS M:&XO4UW#0IW8F9(2FI4;D=E4')4<3%63F%)5TAW$(O=T(K8D0O-4=O+S12>E90*V@P.%%F.$%F;74DO M=65+=D5!+S1$6B\O23EA,'%I:'5J:GA/1VQ69#1T9C$X:D$).4&)*2DA%,GEZ6&%R;$-W=TQC M035-861F5#-.3FHK2$EJ*S4T<3A11"]!241:#0HO=T1Y4%=T2V]O8F\U35)H M<%9894Q8.69)>#E1-D=Q;F=4+VMP='0O,D-B>B]W0DA7=&1,2CA/>DHY+WA6 M-&=0+T%B4"]W0U(V6EEF#0I$:&)$53$Q1S`X52M)23=X65AG16TR>D]%9&M: M:&D]3 M*TQ(+T%#3C-H;B]R>79V+T%%6F$Q5S`W=%A1-G0X4$1Q.3-A#0HS5V]E2R]% M13`Y$%0*T$R M9B]Y4%=T3V]O8F\U35)H<%9894Q8.69)#0IX.5$W,58X0V8X;$YT=CA!FA(#0I:1UE93G9J:WAP>FI02#%P,6%Q;71%5&@X3$ML2D]4 M6#EF23=Y:75B+W=#16,Q5"]!2TA4>$(O,S5S4"]!2D=O+W=#16,Q5"]!2TA4 M#0IX0B\S-7-0+T%*1W)'-3(R.'IP2TLX<#AA>65)9$0Q-U(W1S`X6#9W.%8U M8C--69R8C)8+W=!:C%N94@W;GA(#0IQ4&I'2%-:+T8R&\Q<'%N1SDR3W1L1TEO,&Y7;F%Y.'HQ M>6EU8B]!3T5C#0HQ5"]O9%!%2"]F;74XS:&XO5DP-7AN:C8P-G16 M5%=I2G"\R M1B\O0444T M*WHT4'EU=S4Y87%P5E4Q#0IO:D]H:$I5-4ITG!+#0I+.'DX94IR+T%)9FHP6G),>&AR3&TY=G9S'@S0C%456I):V)L M,59V=#`K44=)0DEZ,TE'9E%D2VTO-%)Z5E`K:#`X468Y*V)$+T%/4G%I*T=C M#0IB=RM'2EEP2G!,:#`Q5%5L86%12T=K279P.',R,$)C;G%C040P07)V-FYL M,C!/<'(U1B]A-R\U2U1P=B]!1T-9=B]2,#%F6&1F26XW#0I8;B]*4V1.+S=" M35@O;S9A<'%F0V%59FE0<&8T66HO:3)V:%`OE!W=T@O1G1F0V8O04=#3%0O,%-L3'%0;V-R M.%5V.$%K8W9$#0I0+UAL9B\X06]Y,'%X;R\X3E%F1E0O:V-V1$@O048U6"]W M1#9-=$MN,&8X06AR-69.4#A!95@V22LQ>6(O8U8VB]W0DA7=&)/%1S M55EO06)I:D9/>%)I9T)U2TU5-T9'2T%'-&]X5'-566]!8FEJ1D]X4FEG1'DS M-')F.&IJ#0HT62\V.'(O+T%.1U=T4S90,G%0-'(O.$%)-"M'4"MV2R]W1"]! M15IA,4IO+V%V;',P+S-L*VE0=#AM+S-&97),;7)D1%=*-$LO=T-3#0IN,G8O M04=#3'HO,&1A,70V=#!.679G;B]!2DMH82\X05E)=E`O4C%R5V589CB\S0W`X=GI2-GII:D9/>%)I=G)4-%5B#0II:D9/>%)I9T)U2TU5-T9' M2T%'-&]X5'-566]!8FEJ1D]X4FEG0G5+354W1D=+043,X#0IL<'%0;GEX4E-2;S)Z-U!-;5%:1U5(-6Y8:D]E M87=B0E!%3G9J9C10,6'1E,DQK M6&-E#0IN4$).8V]11WA%0DE3:V)L;'AM44591$1G+TUU8D(T<6)44&@Q8V$U M<3!K8S`Y<3@Q=FE:,6@S>7)/,$UC8W)G8D5CG(R<5=Z.%@S9#4T6F'1W=6]7;'%L M=EE+1$4O=T)R;%---TU(36DW1RLP=$QK3G1I4TYL0DMY,6Y4>39H5&UP>'9D M#0I',51.&I'3TU978Y.$MI4QM,75.;FU1=G-6 M=T-56FM/561'>7)%66)"=U%1#0I/475.2S%E-R]W0T5S+S1L3GA$=C$R>#%/ M,3AY5T@O4S1R9C=,=4-98S=74#)6=&]F65!N5$I(>F)E:3A),FPR:S)U-FAF M5VML:V14#0IV:&12,C!Z23!S4W)B=W'!&-V8S2WDR=FE(#0I63DU1 M249-3G!(8DUR2$I/-"MB0S=:-7AW8V-$:G)M:#A-4FXT865%78O=T0P6F%63F\O.$%$6'DK868W>2]22#)U5"\W:796:CE9+VER M2#A$9CAL471V.$%S15AN#0HO;S8QB]*;75:+S=H52M8-6\Y9'A2:6=$0E!*3V8P;S)N84)U3U)J M;FI*#0IR-C`K141&1TM-8V41K-#E+041&1TM!344X:S4O4VIA9&]'-#5'3V5-;6=!#0IX4FEJ2$E/ M5&HP;T%W5'E4;CE+041&1TM.<#)G8FIK634T>6%-8V51N.4M.<#)G8FIK634T>6%! M1$9'2TUC9S5/4%-G#0I$0E!*3V8P;T%-55EO,FYA0G5/4FIN:DIO>'E$:S0Y M2T%$1D=+04U%.&LU+U-J861O1S0U1T]E36UG07A2:6I(24]4:C!O07=4>51N M#0HY2T%$1D=+3G`R9V)J:UDU-'EA36-G-4]04V=!>%)I9T1"4$I/9C!O,FYA M0G5/4FIN:DIO03AT*TLO.$%Y3U!H:B]R>78O.$$P6F%6#0I*;R]A;69&:B]K M8V9$2"]8;&8X02]O>3!P*VHY<2M6>E0O95@V22LS>6(O8U8VB\P9&$Q1UAF M-S%$-2]K>3AZ+T%.=W%F3#@P970T;WA10F=N:VY0-E5B5'1!,TA)>'IX:S$Y M869#:&EJ1D=/#0I18VY(<%%"9VYK;E`V54%'2TU58E1T03-(27AZ>&LP635" M>6-E;$%":6I&04=#95-C+W!2=$\P1&-C:DA01U1105EO>%)J:TA*>#95#0I! M64HU2GHK;$%":6I&1S`W44YX>4UC.%I.1T]18VY(<%%!66]X44)G;FMN4#95 M8E1T03-(27AZ>&LP055.63!Q1%9R6EE,<5,X:E)8#0I$9S)L-4YB3FY"2$Q2 M37)%8SE#8V10455A9G!.<'`P9'9(6G!*1VM#3VER-7IK3G9937I/0V9N8W-- M;#)Y,E=9-2M:5)%-TI0;DI90G=1<#581F%F,D,R+W10*S!$ M2'5U>$0U#0I#>4UX3WA.,C1H465&>6-B:4U&='%:>G181G)A9&]'-#5'3V5- M;6I(24]4:C!O07I,2%-B8E).375)9$)S'=834US9#5C#0I01&YZ1VA)2VQ9,WIJ>6IN3T]O MG4K#0IJ+WE(-G@O1E=4-$4O=T-3;S(S+T%'0TQZ+S!D83%Q M,VUH*TUR;E`O04),9D1Y-2\V:3!X+W=$8E=N*T-F0V5V-F8T>5A6.5IJ,'%+ M#0HS:G-:-U96=$QU4UHR85-31F=4=6E104%22'5E;W%-1F=Q.4Q%4FY/3FMV M5'-A63=-3!P,FHY<50T="]W1$DT*T8O*W9++R]W1%)L<%,V4#)R M-6).4#DU9F]J#0HW8DHO.7A8<7DU<3-1,6HK0G8X06MQ3G(O=T)G:3@O.4A7 M=&)'B\S#0I# M<#AV>E(V-U)3,%8Y669$0U55=$9!0U55=$9!0U55=$9!0U55=$9!0U55=$9! M0U55=$9!0U55=$9!0U55=$9!1D183&I43&)33'%4#0I8<&)/2%-Y;FPS1%AR M2W-*5G9L,G57*UA">FI"-C5X6$\O0V8W2"]W:&\O79T&1,-&HV8BM�HO=T1Y M5%!W;"]W0F=I,"\Y17!85#%Z4'=U+S5*;C12+S="1G`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`W44YX>4UC M.%I.04AL9GAC+S5(2'=V#0HO=T)E5B\X02MJ3%-L,&9T4CA84"M2>#A,+SA! M6&QF+T%0;WDP;S!F=%AY*V%F-WDO4D@R=50O-VEV5FQZ5G5HB]*;#5L+W5&5#5F;6HQ*VEG1$)02D]4*U9*=$\P1&-C#0IJ2%!'5%@Q M6CA/3%)2:C5G8VY'3VQ!1T-E4V-N.'%!0VEK,FYA0G5/4FIN:DIP8V9-1< M>#!O04M+04U%.&LU4#55;3`W44YX>4UC#0HX6DY!0S!562M92$IX:G!10F=N M:VY*+TMG06]P3G`R9V)J:UDU-'EA6$AZ035/361+04-I9T1"4$I/5"M62G1/ M,$1C8VI(4$=444%T#0I&1U!M0GEC639505E*-4IY9GEO04M+5&%D;T#A-5$TS:&%6EEN-EE/ M35DV;D]E35I(=W=I84AW=$Q&2E!*8T]M<6%M65P M=T%044-L,4AB439U=FHS.7-,+VMP#0IM;68Y9VE,+T%.2%16.6@T#A,4B]X8DQW:B]!3F=E#0IZ M+SA!4DM5=6\K:#`R2TU5=4M-57A#66]X4S1O>%%!;4M-575+355!2FEJ1DQI M:D9!0UEO>%,T;WA106U+355U2TU504II:D9,:6I�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`R4V$W=#6LU-5IE5I*:%IH=%IV;%IC-$]104=J;V-6>DAW="\U M2FPT4B\W03EN+W=#:55R43%N4C%-J<4A1 M-F9&1TM8861W#0I/5&I(5#%O0VM%.&LU4#55>$-9;WA2=$]W1&5C:DAZ8UI. M3'1/-$A*>&IP-C!!2FEJ1DM&24HU2GEF>7!.<#)!8GIK62MB:DIO04U5#0I9 M<&1P,T$U3TUD4%=G2U%4>51K+VQ106U+355B5'-!,VY)>#@S1U13-U1U0GEC M639E=$%#66]X4VA30V538VXX<51A9&='.#5'4&TT#0IY84%$1D=+6&%D=T]4 M:DA4,6]#:T4X:S50-55!2FEJ1D#`Y84%P M0E!*3U0K5D%#66]X4G1/=T1E8VI(>F-:3DQT3S1(2GAJ<#8P04II:D9+1DE* M-4IY9GEP#0I.<#)!8GIK62MB:DIO04U567!D<#-!-4]-9%!79TM15'E4:R]L M44%M2TU58E1S03-N27@X,T=44S=4=4)Y8UDV971!0UEO>%-H4T-E#0I38VXX M<51A9&='.#5'4&TT>6%!1$9'2UAA9'=/5&I(5#%O0VM%.&LU4#5504II:D9' M,#=!3C5Y369.>&LP=3`W9V-N1T]ND%W,E@R84]B3#=7*V(Y M-E)';48S9DUZ2U`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`U56TP-T%.-7E-9DYX:S!!1TM-574P-V=C;D=/;G)1 M1DE*-4IY9GEO051&1TM.<#)!8GIK62MB:DIP9'`S#0I!-4]-9%!79T-'-DTV M,G-Z5VMC8W1W14II4U=1;VI.:F=-=T1&450Q24)X-DAP6$UF0SAZ=#16;&$W M:FII=41Q=7!M5DEP0S9+,S(K#0IF259I1DQ!2&]30FXP2%-T;E=T3'4Y44U8 M,E189%,P=EE4=2MY2F)T=GIJ1V9.:69P9S1X:C=X>FYJ1U`X3#1N:#A+>7A3 M5'E81'!Q#0IU<'$P,&]54$E29GIGB]S1'AF*VIP-BMX.%8X8R]T:B\X;$\P>B]S1'AF*VIP#0HV53EI M<64U.5`O0WHO:VU0:$0O%)I;EEO>%%!,T9'2V1I:D9!1&-5 M67`R2TU504YX4FEN66]X44$S1D=+9&EJ1D%$8U59<#)+355!3GA2:6Y9;WA1 M03-�I'2V1I:D9!1&-567`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`O=T0K4F%,:%DV8D9'2S1$=U9P;75A-31.,$A6#0IR=GAR MEA.8SA'-D1Q,3,T,3$U3&TO'$S+U$X94EV.$%V>'`O+W=! M:3!80W@P,DM-5GI0+T%!:D=R9CA!43AE278K+T=N+SA!>4Q2+W=J1W)F.41X M#0HT:2\W.&%F+T%0271&=W-D3FEJ1F-"-$LP>EA.8SA'-D1Q,3,T,3$U3&TO M%)I=5HO-%)J5G8K:#0X4F8Y*TY0+T%0:U=J+VA'3E$8O=T(K3E`X02]K5VDT5T]M#0IX4FEU6B\T4FI6=BMH-#A29CDK3E`O M.$%K5VHO04E2:E9V.$%O95!%6"]F:E0O.$$U1F]U1FIP517>B]W M04EX<3,O04502&E,+W9X<"\O04UI,%A#>#`R2TU6>E`X07=J1W)F.41X#0HT M:2\W.&%F+T%0271(+T--870O,%!(:4PO=GAP+W=$.&DP6$-X,#)+359Z4"]# M36%T+S!02&E,+T%,.&%F+SA!271(+T%!:D=R9CA!#0I1.&5)=BLO1VXO.$%Y M3%)C3$A466]X6$%E0W1-,7I84$)U9S9T9"M.9&53-78W0T,V;%=+,W-!9UHT M,5EH46)9;D=4>&MM=&XO:$=.#0I7+S9(:GA&+S,T,"\O=T-284QH639B1D=+ M-6XO04E2:E9V.$%O95!%6"]F:E0O.$$U1F\O-%)J5G8K:#0X4F8Y*TY0+T%0 M:U=I-%=/#0IM>%)I=5HO-%)J5G8K:#0X4F8X069J5"]!4#5&;R\T4FI6=BMH M-#A29CDK3E`O.$%K5VDT5T]M>%)I=4$X1F%:GAQ>$-G,GA/36YJ2DYB4"]#36%T+S!02&E,+T%,.&%F M+SA!271&=W-D3FEJ1F-Z+W=!27AQ,R]!15!(#0II3"]V>'`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`O05!K M5VDT5T]M>%)I=5HO-%)J5G8K:#0X4F8X069J5"]!4#5&;R\T4FI6=BMH-#A2 M#0IF.2M.4"\X06M7:3173VUX4FEU03A*85IR;7-A5E!C,U!J6%AL:VIV-S(Q M06IT-T%$8D1D4W=Q96)9.&Q9=U0W-39D2S)F.$%H1TY7#0HO=T-H-#A29CDK M3E`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`W26IA-6QV0G'1T=V1R341H M;#0K6F,V;4LT,45I=E!(14XQ;T9H#0IC,F,X57IR'953T9K-U!&1G=%>%)I;'A2:6=1;4LU=30X839" M03)(=DI'0W9+#0IK3-)2D-K M:G!C5C5D-#

5,R;3A9,F1J<&1Y9BM%9S!&8D-X1FYA3SAC;#)8=D,T#0IK M6D9+>%IA-6I9=DE656PR3V5'24QJ4C9$3G$Q;D9R14=L;#5(=G!K36UY2T8U M0D=V3T=K6E%6:D1B5T-L>74T<7=82D)&6#A6-68T#0I9F%X9E0V;5HP:T9P.6=95&9:.7)L4D1),R](;F=G=$UQ+TIK26A29E5C55A" M:5EO>%,T;WA1251&8S-C94YD#0I!9V)$,VMJ0EAL4U8T-U=:,'0O3&QE2C-M M6E9):%%02$E..&A65#5B:T5H4U(P=4LX=3AD-EI*8E1E36)/>#!U-5`X07=K M1V=R65=)#0IS-U(S:FMU>3DT6$5J27!73$Q836)&-4-Q:W5X>G=X0F-A3WA4 M>&)O-S8U1'!+5%A,6%4P>C(X8FEZ;4YU.'%+>E!'6EY:4]4#0I)1%I" M4F=E45)7+VEU8W5R864Y*TE&:$DP36XR2%1,0U=1=$MP.'0U-3-663)J4%%U M:5)4:&IW5E=D44UH,G@P;4M,9TII:D9,:6I�I!:$U69V%H-'0P97AU3&DS M:VUU6G)Q0UEW4U44W23!::6]784Q,9V)16D9"24I!6).6QU=S-K64%245--<4-81V%A*TQT1&4K9W19FAK2W%Z070U:5E",W)N9GA8:EAH:E-T4C!P+T1E;E@R:EA+ M6%9R1'!K571I&-7.&LQ>DYD451'0U,S=&)/ M835L1$-/3U%N6D=J359#>E):8T1A1$EO#0I*0DE&9$)I=4TX44I&;W9J8E1. M9&%W=51:=%HS:T9Z3%DR56QX23`X:E=N;&PP:59N3U5T,DEEO5$)O5$9'2UA&1TM" M0UER1G9012MJ5U5K:V0S9GA1>5(S.$]L;%A$071D4W%J#0I2>$M-9DU35-2=&)',VEU32M*2U)796=2>3(Y:&-Y>7HV>'`Q>$U,1WEK;FMF>7)M M0C-K8U)+>DA%55`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`O:'%8>'0O#0HP0R]$;B]G4%`O M.$%(<5`K1W!F1S,O44PX3V8K03@O+T%-96]U1FHW36]R-'HO-&%L.&)F.4%V M=S4O-$1Z+SA!>#9J+T%)86PX8F8Y#0I!=G'0O=T)!=GB]!4'@V:B]H<5AX M="\P0R]$;B]G4%`O.$%(<4QH62MZ2TLK32\K1W!F1S,O44PX3V8K03@O#0HO M=T%E;R\T86PX8F8Y079W-2\T1'HO.$%X-FDT5U!S>6EV:E`O:'%8>'0O,$,O M1&XO9U!0+W=$2'%0.$%H<5AX="\P0R]$;B]!241Z#0HO=T1X-FDT5U!S>6EV M:E`O04EA;#AB9CE!=GB]!3T=P#0IF1S,O045#+T1N+V=04#A!+TAQ4"M'<&9' M,R]13#A/9BM!."\O=T%E;W5&:C=-;W(T>B\T86PX8F8Y079W-2\T1'HO+T%" M-FHO:'%8#0IX="\P0R]$;B]G4%`O=T1(<4QH62MZ2TLK32\K1W!F1S,O44PX M3V8K03@O+T%-96\O=T-'<&9',R]13#A/9CA!9U!0+T%02'%,:%DK#0IZ2TLK M32\X06AQ6'AT+S!#+T1N+T%)1'HO=T1X-FHO:'%8>'0O=T)!=GB]! M4'@V:3174'-Y:79J4#A!-&%L.&)F.$%13#A/#0IF*T$X+W=$.&5O+S1A;#AB M9CE!=GB\O04(V:3174'-Y:79J4"]H<5AX="\P0R]$;B]G4%`O.$%( M<5`K1W!F1S,O44PX3V8K#0I!."\O04UE;W5&:C=-;W(T>B\T86PX8F8Y079W M-2\T1'HO.$%X-FHO04EA;#AB9CE!=G'0O=T)!=GB]!4'@V#0IJ+VAQ6'AT M+S!#+T1N+V=04"\X04AQ3&A9*WI+2RM-+RM'<&9',R]13#A/9BM!."\O=T%E M;R\T86PX8F8Y079W-2\T1'HO.$%X-FDT#0I74'-Y:79J4"]H<5AX="\P0R]$ M;B]G4%`O=T1(<5`X06AQ6'AT+S!#+T1N+T%)1'HO=T1X-FDT5U!S>6EV:E`O M04EA;#AB9CE!=GB\O04(V M:B]H<5AX="\P0R]$;B]G4%`O=T1(<4QH62MZ2TLK32\K#0I'<&9',R]13#A/ M9BM!."\O04UE;R]W0T=P9D65H559Q9B]:#0H-"@T*+2TM+2TM/5].97AT4&%R=%]A8S%E,F%C-%\U9C)A M7S0T9#9?86(S9%\Q,31D,V8P-&0R8C@-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO86,Q93)A8S1?-68R85\T-&0V7V%B,V1?,3$T9#-F,#1D,F(X M+U=O&UL#0I#;VYT96YT+51R86YS9F5R+45N M8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O M:'1M;#L@8VAA&UL;G,Z;STS1")U M&UL/@T*+2TM+2TM/5].97AT4&%R=%]A8S%E,F%C-%\U9C)A7S0T9#9?86(S 29%\Q,31D,V8P-&0R8C@M+0T* ` end XML 12 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Investor A, B, C and Institutional Shares | BLACKROCK MANAGED VOLATILITY PORTFOLIO
Fund Overview
Investment Objective
The investment objective of BlackRock Managed Volatility Portfolio, formerly BlackRock Asset Allocation Portfolio, (“Managed Volatility Portfolio” or the “Fund”), a series of BlackRock FundsSM (the “Trust”), is to seek total return.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of Managed Volatility Portfolio. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in the fund complex advised by BlackRock Advisors, LLC (“BlackRock”). More information about these and other discounts is available from your financial professional and in the “Details About the Share Classes” section on page 61 of the Fund’s prospectus and in the “Purchase of Shares” section on page II-73 of the Fund’s statement of additional information.
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees Investor A, B, C and Institutional Shares BLACKROCK MANAGED VOLATILITY PORTFOLIO
Investor A Shares
Investor B Shares
Investor C Shares
Institutional Shares
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price) 5.25% none none none
Maximum Deferred Sales Charge (Load) (as percentage of offering price or redemption proceeds, whichever is lower) none [1] 4.50% [2] 1.00% [3] none
[1] 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 $1,000,000 or more.
[2] The CDSC is 4.50% if shares are redeemed in less than one year. The CDSC for Investor B Shares decreases for redemptions made in subsequent years. After six years there is no CDSC on Investor B Shares. (See the section "Details About the Share Classes - Investor B Shares" in the Fund's prospectus for the complete schedule of CDSCs.)
[3] There is no CDSC on Investor C Shares after one year.
Annual Fund Operating Expenses
(expenses that you pay each year as a
percentage of the value of your investment)
Annual Fund Operating Expenses Investor A, B, C and Institutional Shares BLACKROCK MANAGED VOLATILITY PORTFOLIO
Investor A Shares
Investor B Shares
Investor C Shares
Institutional Shares
Management Fee [1][2][3] 0.55% 0.55% 0.55% 0.55%
Distribution and/or Service (12b-1) Fees 0.25% 1.00% 1.00% none
Other Expenses 0.37% 0.41% 0.34% 0.35%
Interest Expense 0.01% 0.01% 0.01% 0.01%
Miscellaneous Other Expenses [1][2] 0.36% 0.40% 0.33% 0.34%
Acquired Fund Fees and Expenses [1][2] 0.18% 0.18% 0.18% 0.18%
Total Annual Fund Operating Expenses [1] 1.35% 2.14% 2.07% 1.08%
Fee Waivers and/or Expense Reimbursements [3] (0.05%) (0.05%) (0.05%) (0.05%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements [3] 1.30% 2.09% 2.02% 1.03%
[1] The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund's most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.
[2] Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. The Management Fee payable by the Fund is based on assets estimated to be attributable to the Fund's direct investments in fixed-income and equity securities and instruments, including exchange-traded funds ("ETFs") advised by BlackRock or other investment advisers, other investments and cash and cash equivalents (including money market funds). BlackRock has contractually agreed to waive the Management Fee on assets estimated to be attributed to the Fund's investments in other equity, fixed-income and money market mutual funds managed by BlackRock or its affiliates (the "mutual funds").
[3] As described in the "Management of the Fund" section of the Fund's prospectus on pages 76-80, BlackRock has contractually agreed to waive 0.05% of its Management Fee until June 1, 2013. In addition, 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) as a percentage of average daily net assets to 1.37% (for Investor A Shares), 2.14% (for Investor B and Investor C Shares) and 0.89% (for Institutional Shares) until June 1, 2013. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested Trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund.
Example:
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Investor A, B, C and Institutional Shares BLACKROCK MANAGED VOLATILITY PORTFOLIO (USD $)
1 Year
3 Years
5 Years
10 Years
Investor A Shares
650 926 1,221 2,060
Investor B Shares
662 1,015 1,345 2,267
Investor C Shares
305 644 1,109 2,396
Institutional Shares
105 339 591 1,313
You would pay the following expenses if you did not redeem your shares:
Expense Example, No Redemption Investor A, B, C and Institutional Shares BLACKROCK MANAGED VOLATILITY PORTFOLIO (USD $)
1 Year
3 Years
5 Years
10 Years
Investor B Shares
212 665 1,145 2,267
Investor C Shares
205 644 1,109 2,396
Portfolio Turnover:
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 401% of the average value of its portfolio.
Principal Investment Strategies of the Fund
Managed Volatility Portfolio uses an asset allocation strategy, investing varying percentages of its portfolio in three major categories: stocks, bonds and money market instruments. The Fund has wide flexibility in the relative weightings given to each category.

The Fund may also invest a significant portion of its assets in affiliated and unaffiliated ETFs and mutual funds. See “Information About the ETFs and Mutual Funds.”

With respect to its equity investments, the Fund may invest in ETFs, mutual funds or individual equity securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts. The Fund, the ETFs and the mutual funds may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund, the ETFs and the mutual funds may invest in securities of companies of any market capitalization.

With respect to its fixed-income investments, the Fund may invest in ETFs, mutual funds or individual fixed-income securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations, asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S. governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund, the ETFs and the mutual funds may also invest a significant portion of their assets in non-investment grade bonds (junk bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund, the ETFs and the mutual funds may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis.

With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements. The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates.

The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, indexed and inverse floating rate securities, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S. currencies. The ETFs and the mutual funds may, to varying degrees, also invest in derivatives.

The Fund may invest in U.S. and non-U.S. real estate investment trusts (“REITs”), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).

The Fund incorporates a volatility control process that seeks to reduce risk when portfolio volatility is expected to deviate from the Fund’s targeted total return volatility of 10% over a one-year period. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index over time. Volatility may result in rapid and dramatic price swings. While BlackRock attempts to manage the Fund’s volatility exposure to stabilize performance, there can be no guarantee that the Fund will reach its target volatility. The Fund will adjust its asset allocation in response to periods of high or low expected volatility. The Fund may without limitation allocate assets into cash or short-term fixed-income securities, and away from riskier assets such as equity and high yield fixed-income securities. When volatility decreases, the Fund may move assets out of cash and back into riskier securities. At any given time, the Fund may be invested entirely in equities, fixed-income or cash. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
Investment Risks
Risk is inherent in all investing. The value of your investment in Managed Volatility Portfolio, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The principal risks set forth below are the principal risks of investing in the Fund, the ETFs and/or the mutual funds. In the following discussion, references to the “Fund” shall mean any one or more of the relevant ETFs or mutual funds and the Fund, where applicable.

Principal Risks of the Fund’s Fund of Funds Structure
  • Affiliated Fund Risk — In managing the Fund, BlackRock will have authority to select and substitute ETFs or mutual funds. BlackRock may be subject to potential conflicts of interest in selecting ETFs or mutual funds because the fees paid to BlackRock by some ETFs or mutual funds are higher than the fees paid by other ETFs or mutual funds. However, BlackRock is a fiduciary to the Fund and is legally obligated to act in the Fund’s best interests when selecting ETFs and mutual funds.
  • Allocation Risk — The Fund’s ability to achieve its investment objective depends upon BlackRock’s skill in determining the Fund’s strategic asset class allocation and in selecting the best mix of ETFs, mutual funds and direct investments. There is a risk that BlackRock’s evaluations and assumptions regarding asset classes or ETFs or mutual funds may be incorrect in view of actual market conditions.
  • Investments in ETFs and Other Mutual Funds Risk — The Fund’s net asset value will change with changes in the value of the ETFs, mutual funds and other securities in which it invests. As with other investments, investments in other investment companies, including ETFs, are subject to market risk and, for non-index strategies, selection risk. In addition, if the Fund acquires shares of investment companies, including ETFs, shareholders bear both their proportionate share of expenses in the Fund (including management and advisory fees) and, indirectly, the expenses of the investment companies. If the Fund acquires shares of affiliated mutual funds, shareholders bear both their proportionate share of expenses in the Fund (excluding management and advisory fees) and, indirectly, the expenses of the mutual funds. To the extent the Fund is held by an affiliated fund, the ability of the Fund itself to hold other investment companies may be limited.

    One ETF or mutual fund may buy the same securities that another ETF or mutual fund sells. In addition, the Fund may buy the same securities that an ETF or mutual fund sells, or vice-versa. If this happens, an investor in the Fund would indirectly bear the costs of these transactions without accomplishing the intended investment purpose. Also, an investor in the Fund may receive taxable gains from portfolio transactions by an ETF or mutual fund, as well as taxable gains from transactions in shares of the ETF or mutual fund by the Fund. Certain of the ETFs or mutual funds may hold common portfolio securities, thereby reducing the diversification benefits of the Fund.
Principal ETF-Specific Risks
  • Cash Transaction Risk — Certain ETFs intend to effect creations and redemptions principally for cash, rather than primarily in-kind because of the nature of the ETF’s investments. Investments in such ETFs may be less tax efficient than investments in ETFs that effect creations and redemptions in-kind.
  • Management Risk — If an ETF does not fully replicate the underlying index, it is subject to the risk that the manager’s investment management strategy may not produce the intended results.
  • Passive Investment Risk — ETFs purchased by the Fund are not actively managed and may be affected by a general decline in market segments relating to their respective indices. An ETF typically invests in securities included in, or representative of, its index regardless of their investment merits and does not attempt to take defensive positions in declining markets.
  • Representative Sampling Risk — When an ETF deviates from a full replication indexing strategy to utilize a representative sampling strategy, the ETF is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the ETF may not have an investment profile similar to those of its index.
  • Shares of an ETF May Trade at Prices Other Than Net Asset Value — The trading prices of an ETF’s shares fluctuate continuously throughout trading hours based on market supply and demand rather than net asset value. The trading prices of an ETF’s shares may deviate significantly from net asset value during periods of market volatility. Any of these factors may lead to an ETF’s shares trading at a premium or discount to net asset value. However, because shares can be created and redeemed in Creation Units, which are aggregated blocks of shares that authorized participants who have entered into agreements with the ETF’s distributor can purchase or redeem directly from the ETF, at net asset value, large discounts or premiums to the net asset value of an ETF are not likely to be sustained over the long term. If a shareholder purchases at a time when the market price is at a premium to the net asset value or sells at a time when the market price is at a discount to the net asset value, the shareholder may sustain losses.
  • Tracking Error Risk — Imperfect correlation between an ETF’s portfolio securities and those in its index, rounding of prices, the timing of cash flows, the ETF’s size, changes to the index and regulatory requirements may cause tracking error, which is the divergence of an ETF’s performance from that of its underlying index. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because an ETF incurs fees and expenses while its underlying index does not.
Other Principal Risks of Investing in the Fund
  • Collateralized Debt Obligations Risk — The pool of high yield securities underlying collateralized debt obligations is typically separated into groupings called tranches representing different degrees of credit quality. The higher quality tranches have greater degrees of protection and pay lower interest rates. The lower tranches, with greater risk, pay higher interest rates.
  • Concentration Risk — To the extent that the Fund’s portfolio reflects concentration in the securities of issuers in a particular region, market, industry, group of industries, country, group of countries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that region, market, industry, group of industries, country, group of countries, sector or asset class.
  • Convertible Securities Risk — 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.
  • Corporate Loans Risk — 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.
  • Counterparty Risk — 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.
  • Credit Risk — 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. The degree of credit risk depends on the issuer’s financial condition and on the terms of the securities.
  • Debt Securities Risk — Debt securities, such as bonds, involve credit risk. Debt securities are also subject to interest rate risk.
  • Derivatives Risk — The Fund’s use of derivatives may reduce the Fund’s returns and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A risk of the Fund’s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.
  • Distressed Securities Risk — 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.
  • Dollar Rolls Risk — Dollar rolls involve the risk that the market value of the securities that the Fund is committed to buy may decline below the price of the securities the Fund has sold. These transactions may involve leverage.
  • Emerging Markets Risk — Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop. Investments in emerging markets may be considered speculative. Emerging markets are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, many emerging securities markets have far lower trading volumes and less liquidity than developed markets.
  • Equity Securities Risk — Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Extension Risk — 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.
  • Foreign Securities Risk — Foreign investments often involve special risks not present in U.S. investments that can increase the chances that the Fund will lose money. These risks include:
 

The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.

 

 

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

 

 

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

 

 

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

 

 

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

 

 

Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.

 

  • High Portfolio Turnover Risk — High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund and potentially higher capital gains or losses for shareholders. The effects of higher than normal portfolio turnover may adversely affect Fund performance.
  • Indexed and Inverse Securities Risk — Certain indexed and inverse securities have greater sensitivity to changes in interest rates or index levels than other securities, and the Fund’s investment in such instruments may decline significantly in value if interest rates or index levels move in a way Fund management does not anticipate.
  • Inflation Indexed Bonds Risk — The principal value of an investment is not protected or otherwise guaranteed by virtue of the Fund’s investments in inflation-indexed bonds.
Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced.

Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value.

The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Short-term increases in inflation may lead to a decline in value. Any increase in the principal amount of an inflation-indexed bond will be considered taxable ordinary income, even though investors do not receive their principal until maturity.

Periodic adjustments for inflation to the principal amount of an inflation-indexed bond may give rise to original issue discount, which will be includable in the Fund’s gross income. Due to original issue discount, the Fund may be required to make annual distributions to shareholders that exceed the cash received, which may cause the Fund to liquidate certain investments when it is not advantageous to do so. Also, if the principal value of an inflation-indexed bond is adjusted downward due to deflation, amounts previously distributed in the taxable year may be characterized in some circumstances as a return of capital.
  • Interest Rate Risk — 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. In general, the market price of debt securities with longer maturities will go up or down more in response to changes in interest rates than the market price of shorter term securities.
  • Investment Style Risk — Under certain market conditions, growth investments have performed better during the later stages of economic expansion and value investments have performed better during periods of economic recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other funds that use different investment styles.
  • Junk Bonds Risk — 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.
  • Leverage Risk — Some transactions may give rise to a form of economic leverage. These transactions may include, among others, derivatives, and may expose the Fund to greater risk and increase its costs. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet any required asset segregation requirements. Increases and decreases in the value of the Fund’s portfolio will be magnified when the Fund uses leverage.
  • Liquidity Risk — 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 Fund, due to limitations on illiquid investments, may be subject to purchase and sale restrictions.
  • Market Risk and Selection Risk — Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
  • Mid-Cap Securities Risk — The securities of mid-cap companies generally trade in lower volumes and are generally subject to greater and less predictable price changes than the securities of larger capitalization companies.
  • Mortgage- and Asset-Backed Securities Risks — Mortgage- and asset-backed securities represent interests in “pools” of mortgages or other assets, including consumer loans or receivables held in trust. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risks. These securities also are subject to risk of default on the underlying mortgage or asset, particularly during periods of economic downturn. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities.
  • Municipal Securities Risks — Municipal securities risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers of municipal securities, and the possibility of future legislative changes which could affect the market for and value of municipal securities. These risks include:
General Obligation Bonds Risks — Timely payments depend on the issuer’s credit quality, ability to raise tax revenues and ability to maintain an adequate tax base.
Revenue Bonds Risks — These payments depend on the money earned by the particular facility or class of facilities, or the amount of revenues derived from another source.
Private Activity Bonds Risks — Municipalities and other public authorities issue private activity bonds to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its faith, credit and taxing power for repayment.
Moral Obligation Bonds Risks — Moral obligation bonds are generally issued by special purpose public authorities of a state or municipality. If the issuer is unable to meet its obligations, repayment of these bonds becomes a moral commitment, but not a legal obligation, of the state or municipality.
Municipal Notes Risks — Municipal notes are shorter term municipal debt obligations. If there is a shortfall in the anticipated proceeds, the notes may not be fully repaid and the Fund may lose money.
Municipal Lease Obligations Risks — In a municipal lease obligation, the issuer agrees to make payments when due on the lease obligation. Although the issuer does not pledge its unlimited taxing power for payment of the lease obligation, the lease obligation is secured by the leased property.
  • Preferred Securities Risk — 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.
  • Prepayment Risk — 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.
  • Real Estate Related Securities Risks — The main risk of real estate related securities is that the value of the underlying real estate may go down. Many factors may affect real estate values. These factors include both the general and local economies, the amount of new construction in a particular area, the laws and regulations (including zoning and tax laws) affecting real estate and the costs of owning, maintaining and improving real estate. The availability of mortgages and changes in interest rates may also affect real estate values. If the Fund’s real estate related investments are concentrated in one geographic area or in one property type, the Fund will be particularly subject to the risks associated with that area or property type.
  • REIT Investment Risk — Investments in REITs involve unique risks. REITs may have limited financial resources, may trade less frequently and in limited volume and may be more volatile than other securities.
  • Repurchase Agreements and Purchase and Sale Contracts Risks — If the other party to a repurchase agreement or purchase and sale contract defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. If the seller fails to repurchase the security in either situation and the market value of the security declines, the Fund may lose money.
  • Reverse Repurchase Agreements Risk — Reverse repurchase agreements involve the risk that the other party to the reverse repurchase agreement may fail to return the securities in a timely manner or at all. The Fund could lose money if it is unable to recover the securities and the value of the collateral held by the Fund, including the value of the investments made with cash collateral, is less than the value of securities. These events could also trigger adverse tax consequences to the Fund.
  • Risks of Loan Assignments and Participations — As the purchaser of an assignment, the Fund typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation; however, the Fund may not be able unilaterally to enforce all rights and remedies under the loan and with regard to any associated collateral. Because assignments may be arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. In addition, if the loan is foreclosed, the Fund could become part owner of any collateral and could bear the costs and liabilities of owning and disposing of the collateral. The Fund may be required to pass along to a purchaser that buys a loan from the Fund by way of assignment a portion of any fees to which the Fund is entitled under the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower, and the Fund may not directly benefit from any collateral supporting the loan in which it has purchased the participation. As a result, the Fund will be subject to the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.
  • Second Lien Loans Risk — 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.
  • Senior Loans Risk —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.
  • Small Cap and Emerging Growth Securities Risks — Small cap or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a more limited management group than larger capitalized companies.
  • Sovereign Debt Risk — Sovereign debt instruments are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies.
  • Structured Products Risk — 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.
  • Supranational Entities Risk — The Fund may invest in obligations issued or guaranteed by the International Bank for Reconstruction and Development (the World Bank). If one or more stockholders of the World Bank fail to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities, and the Fund may lose money on such investments.
  • Tender Option Bonds and Related Securities Risk — Investments in tender option bonds, residual interest tender option bonds and inverse floaters expose the Fund to the same risks as investments in derivatives, as well as risks associated with leverage, described above, especially the risk of increased volatility. An investment in these securities may be subject to the risk of loss of principal. Residual interest tender option bonds and inverse floaters generally will underperform the market for fixed rate municipal securities in a rising interest rate environment.
  • U.S. Government Mortgage-Related Securities Risk — There are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. Mortgage-related securities guaranteed by the Government National Mortgage Association (“Ginnie Mae”) are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. Ginnie Mae securities also are supported by the right of Ginnie Mae to borrow funds from the U.S. Treasury to make payments under its guarantee. Mortgage-related securities issued by The Federal National Mortgage Association (“Fannie Mae”) or The Federal Home Loan Mortgage Corporation (“Freddie Mac”) are solely the obligations of Fannie Mae or Freddie Mac, as the case may be, and are not backed by or entitled to the full faith and credit of the United States but are supported by the right of the issuer to borrow from the U.S. Treasury.
  • U.S. Government Obligations Risk — Certain securities in which the Fund may invest, including securities issued by certain U.S. Government agencies and U.S. Government sponsored enterprises, are not guaranteed by the U.S. Government or supported by the full faith and credit of the United States.
  • Variable and Floating Rate Instrument Risk — The absence of an active market for these securities could make it difficult for the Fund to dispose of them if the issuer defaults.
  • Warrants Risk — If the price of the underlying stock does not rise above the exercise price before the warrant expires, the warrant generally expires without any value and the Fund loses any amount it paid for the warrant. Thus, investments in warrants may involve substantially more risk than investments in common stock.
  • Zero Coupon Securities Risk — While interest payments are not made on such securities, holders of such securities are deemed to have received income (“phantom income”) annually, notwithstanding that cash may not be received currently. Some of these securities may be subject to substantially greater price fluctuations during periods of changing market interest rates than are comparable securities that pay interest currently. Longer term zero coupon bonds are more exposed to interest rate risk than shorter term zero coupon bonds.
Performance Information
Effective May 15, 2012, Managed Volatility Portfolio changed its investment strategy to invest a significant portion of its assets in ETFs and, to a lesser extent, in mutual funds and directly in securities. Performance for the periods shown below is based on the investment strategy utilized by the Fund prior to May 15, 2012, which focused on investing directly in securities.

On January 31, 2005, the Fund reorganized with the State Street Research Asset Allocation Fund (the “SSR Fund”), which had investment objectives and strategies similar to the Fund. For periods prior to January 31, 2005, the chart and table show performance information for the SSR Fund. The information shows you how the Fund’s performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Fund’s performance to that of the Standard & Poor’s (“S&P”) 500® Index, the Barclays U.S. Aggregate Bond Index, the MSCI All Country World Index (the “MSCI ACWI Index”), the Citigroup World Government Bond Index (hedged into USD) (the “Citigroup WGBI (hedged into USD)”) and three customized weighted indices comprised of the returns of the S&P 500® Index, the MSCI ACWI Index, the Barclays U.S. Aggregate Bond Index and the Citigroup WGBI (hedged into USD) in the percentages and combinations set forth in the table. Effective October 1, 2011, the Fund changed one of the components making up the customized weighted index from the S&P 500® Index to the MSCI ACWI Index. Fund management believes that the MSCI ACWI Index better reflects the Fund’s increasing exposure to non-U.S. equities. Effective May 15, 2012, the Fund changed one of the components making up the customized weighted index from the Barclays U.S. Aggregate Bond Index to the Citigroup WGBI (hedged into USD). Fund management believes that the Citigroup WGBI (hedged into USD) better reflects the Fund’s increasing global exposure. As with all such investments, past performance (before and after taxes) is not an indication of future results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the Fund’s returns would have been lower. Updated information on the Fund’s results can be obtained by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052.
Investor A Shares
ANNUAL TOTAL RETURNS1
BlackRock Managed Volatility Portfolio
As of 12/31
Bar Chart
[1] A portion of the Fund's total return was attributable to proceeds received in the fiscal year ended September 30, 2009 in settlement of litigation.
During the ten-year period shown in the bar chart, the highest return for a quarter was 13.66% (quarter ended September 30, 2009) and the lowest return for a quarter was –13.17% (quarter ended December 31, 2008). The year-to-date return as of September 30, 2012 was 9.14%.
As of 12/31/11
Average Annual Total Returns
Average Annual Total Returns Investor A, B, C and Institutional Shares BLACKROCK MANAGED VOLATILITY PORTFOLIO
1 Year
5 Years
10 Years
Investor A
(8.58%) 0.97% [1] 3.69% [1]
Investor A Return After Taxes on Distributions
(9.09%) 0.24% [1] 2.80% [1]
Investor A Return After Taxes on Distributions and Sale of Shares
(5.00%) 0.67% [1] 2.88% [1]
Investor B
(8.50%) 0.91% [1] 3.63% [1]
Investor C
(5.13%) 1.34% [1] 3.51% [1]
Institutional
(3.21%) 2.43% [1] 4.60% [1]
S&P 500 Index (Reflects no deduction for fees, expenses or taxes)
2.11% (0.25%) [1] 2.92% [1]
Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
7.84% 6.50% [1] 5.78% [1]
MSCI ACWI Index (Reflects no deduction for fees, expenses or taxes)
(7.35%) (1.93%) [1] 4.24% [1]
Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
5.49% 4.92% [1] 4.75% [1]
60% S&P 500 Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
4.69% 2.84% [1] 4.40% [1]
60% MSCI ACWI Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
(1.14%) 1.91% [1] 5.27% [1]
60% MSCI ACWI Index/40% Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
(1.96%) 1.38% [1] 4.89% [1]
[1] A portion of the Fund's total return was attributable to proceeds received in the fiscal year ended September 30, 2009 in settlement of litigation.
After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Investor A Shares only, and the after-tax returns for Investor B, Investor C and Institutional Shares will vary.

ZIP 13 0001193125-12-483575-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-12-483575-xbrl.zip M4$L#!!0````(`+MU?$$L3B1$R(D``-W&`P`1`!P`8G)F-RTR,#$R,3$P-BYX M;6Q55`D``_%IME#Q:;90=7@+``$$)0X```0Y`0``[%U9<^,VMGY/5?X#QW>2 MZK[E1=0N=W>FW-M<5]KM+MN9)$\IB(0DQ!2I`*1MY6%^^ST'X"J1:DF$),JM MF9II2P*!\QV!."'"8NSH M7S]]_]WK?YR<_/;VYI-A>U8PIJYO6)P2G]I&?VKECD.GQN65\85[ M%A7"XT;KM(;_-0(!51H?@S^9+P+CTO6A39\,J?';K\2U3TZPA:<^=PP0R!7G M?3[HO#D:^?[D_.SL\?'QM.\0ZQYJO3^UO/%9O6;63;/6/@J+/PF6*?W8./7X M$(K5S+/?KC[=6B,Z)B?,A29=BT9/V31Y"ML^%=0Z'7H/9_"#;.*D9IXTS*@X MY_FE.<\I[##W/B.2?"04JG&&/_>)B$7!7^T9:<+"[3/U8UQTKNH0K=GK]<[D MKV'1!>W/JH()KUDW.XN>4"6.H*,,XS6V``LC_G3\!-\9C9^,V"4&U(>FL$0]=&[RY^/?JK!?[K-9J?3>WV6 M/!95?):I^?6$'TLU1U^E6T_K4)\`G)]#A!03:OF!D)6_ MR9\SOH!EHWL]F#M>V[ME,N& M(>-<42("3E6S\%-AUQ_<;?ON=N':M\2A![?[=MTN,H&#^VV/N^5YT2UTQ)=+ MUZ9/![?:$[=2S<;]=K#ER);?$FXY9"I^$1?#(0=;\>E;S[4/UKUWUKVH)P_V M'MG[E;#8A?7(#@:^=P:>Z;J#14<6_8[Y;,B]8/+KL'\PZ_TSZ_G^.]AVS+39 MDS\]T.W]-.R9SCM8=<:J,9L=C'H_C3KNNX--9VPZ3F4'P]Y/P\YVX+=IW=&, M9S?ZXM)]H,+W^$7?NG0%0).SL<0YS*R7L/+%2MW%#'=W23T\6WLW#_;^3=F[ M^8W;>_U@[]^4O=>_;7OO=`_V_BW9>Z?[;=K[P;PK:M[/S=`.&ZQV,MFQYV:T M]G[:PWQ$U0-^P M:W=9:S]LXWVV]G_8U[N61QPV^CX?%SCL_%W.Y@];@9^9X1_V!J_"^`^;A9^1 MZ1]V#Z]D]X?MQ,_([+_Q_<7+6_UAP_%S,_UGM`,Y<)DR_@G@C(URK'#_A%^^ M/HL^J-[7.?Q67$-F&ADE-D+A;O#4K\7G>:7QSM6CJD^; MU]UTLDKMU_X(^W2VAJ1>Y1\W=(@3[<3U/Y/Q*O6__73Q[N>;ZW<_&Q]_^?S^ M5K645^=LB^]`$DX<:7D_T^D*3:;#16%]27,7@-E&W!\=,ERAF0%Q!%4M9*J8 M[Y)W>``@NOL:'8\NT<[V3[JZ^<8^#`9@'>R!:FHM4]]\>.)YT+WF57%43,ED*\*.@^I7@0I]J/&[OVH MT$U\R4Y)>?/VY1=DFZS48K;5T9R1:)W=BMV,U&O4CLQB*Q M6[L5N].J%8G=6B"V6=NQD;1;C0*YS5J2+5PW(,X-]0/NUH'D).[9W7G,,5OM MMLH,,T(62=](I._M.KC46Z'Z9V4L$KZ9"&_6=BV]:9J=/.F;1=*W4M*;NY:^ MUHXHQ8R01=*W4]+O?.QD0K5YTK>+I.^DI-\]8^TU^`DCNP!N288T_?LDD7J4!"L)89E-K3F@.MUFA4'E[DO,,Z]../ZL)HSBK68Y/=+:5>0K M<\A@#HYFN_(XYO:!Y$8NL\H>LF!E/Q=,KVP83@^K=CP@ES%Y,9[62GC6':)O MB3/(^<'%3K42WOJZ@_HM\P=)'SH:<6N;#EB/2YRD%N_T`-(V0Z"16;1U`M0V MB5"*99B]Q81]-4S:IA9*4XYFKZX1E[8YAW+\H_X59KL:*&US$>N3$6F`BX<@ MJV'2-D-1DIBD5B?7!I:>.*KOGI#6 MB(0;>:X'`\J9._S"03+-)&7%HW5R.S+:(KL&FFKI8K7SF>=T\5S4L-JQO<]5 M#2N>YKI!-;RG\".G=JJ6>?!)+-0^D"D;(]*:6`9+2?S:]TR5C0N0$UK;U4%3 M^\ZKLD'A--S?OFD55#<&K`CY:^_&-+5O3RM/!99^6V8)>-KWKY7W8IWPM&]P M*^^@.N'IWP%7TA.K_RI7>?LTUWNS:U=XRX>;==]EVQ5B33ET7_!JR9X5?5%1 M@_6&&XR_]B+W MA;&\=U4?8WF/JSQZXR?>\F]K?W-"1YMHKOOF]"F#M;WOHR(,;Q*O]_1`= M>;*Q0<#Z=V5H2*2K]O"J9QE4<`9SO=,-5@3>JN"TY7:`5W$R;RO`];^F6MZ_ M]1_DH7^VKW3WSAR^L#(D[3-\Y6-4/7SI8EU(^ME3Z>A3KW5*0=+_-FQI]S)K M6L^4:>FG1.5\:\U39E;"K'^)MYSS;0.S?E)4SCNW@+FM_P"-LZB3HA;$T<^H^1*^Q3BUO?,8]AY[=6B-J!PZ=01$?5'YU\?GBWQ_>_^?ZT\7=Y:?+N]^_ M7-_-]S=T-M.IZ@1BHY$JV;>2/1>;%WB*^< ME^2.[-;'5[614KN]%+ZBP<8V\&U@`+4^OLHQ-C.7L\HZLI#N.'&%?`E7/^587GE+7%W0KMIV3GF902OW M3/K9RPPV2EIS#]JI"$<-91-*N(TSUN*K(]KZ]\:6756MMSJYA^HO2_FFMW'=/1OR"V_#[+1JB^^2V0;@XW-LL428XM25'&-D<9; MPO'<$7]/`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`'LQ8&]@O,7-8S+LJ= M:>H!>:*;<>$`1(DH7?S%CV0\>?4_W7J]]FI1Q7$Q\Y7A<<,'25-/H@&F2KP\ M-H@A*&=49$7'<@*U(H()`KZ]DMT6?C)>S%1[QP/A9^MEPO`]J)O>P[\^<0PN M#?MT0??/]O+L'N$*V7X_XP1X#I!!P+6C5[50F:@BZ>\SIM_/=X(LQEGHGPE' MG`^;W2"YF@M@#^/^0\@4PH+Q+\!&S(-(&312AC\BOC'U`F-,IL8$_L<&\F,_ MF,J">)B2(=162%#<(NO.,9]"#25A9/9-NG=$;I+>M0IC0U(I3%E++&QL3+(8 M/\."+^9UBOJDQ!H94\A]!@'5XSY2"\(2*#&RPP?B!/(#/,%3D>MECC<6*"O9 MLAOUQ1VXLP>YK&IN&0MH1!*>+W*\(CS%@"OD@V&(`2,`D\`=R,0*+5OXXM@0 M`1@&P0W&XS$3`N>GCHW'$74-YJ/[*4<5U'$$_+\5<.!@8%PO('&DHKO4)U\:?J@PZ?C,M1FD-1H5FQ-7RH(E026!X\,# M<5&<9U-RAV$"_L\840@;4(C@[S(0$!PQU`(\X7H^5#YP M(-U0]:ARO`'JT(L=+W8R#WU%.A!5+UE`NAP,X.DXN$<*,3NO!/I=M#'[U`!S MP+JPX!CD@';1)XT!$Q:TB,YZ7%#+O/HXJNT1^K%9,W^(?)HH^IOX=J9#<@)E ML1T7O(Q3-<<.Q5KHS;D(BEXIK&92#:5#!L5`&A@-V4BEP-PG,N++]P/`FM$( MT,1EW\N0CIT5&JP,"X_,'Q47\_#.&F,<^)$+".DX.?9NT8 MP&=:&H14TV=C&K['(&*/MZ5G^^B^G-J4C@WB.'$VBCQ:.15%3T0#]T12I\8>CJQ^$-%.)XCQ2\O$\$J,"3M8A0K3*E"E6)>OK1"R"<]4/K7F#3"XC. MK8^18CBMFN/&1!D8OFNQ":@L-5P,I69KT>89R'.JJ)Z/+Z*W1B`D>48C@9$@ M24:"(L1SG/+A!Q@LX;\)WQ-S>4!Y*:>0AH`Q)DWP/? M5]G7<^D42O)[BOD7&@VPBT(/E-V"SO7(;.#Y#GUB?04@=!%.':EKXY&"$Z", MPAC"9Q?CE_3"L/EI-CT9BN(:9['5I/Y>1;>)F.B,,E*$00N&N6SHL@$$)*@. MU8-:#;5%PD/@74SO@"B.68&;^N+#W<=02YF0>4LS0^%+5W(`6?U%WPM4K(F? MO5+/RO'U:8I.;4@?^%8H\JF))"V>1$O_"E2?11XH$B82,C6I,E`'BGVF(W?A76EN",T`O8;N`X;,]0:>!H-*9ELX3BK#\F/TO5G!4#B*JT?+/78 MF`!YHQQR2/1%JEWP:J`T/D,>"&G3FWG4]=R3=)&9JJ0L-IUX@OG@59*ML4G: M\%>3.R48V%@?4JWQR^GMJ7P419$?@)$'E`N9IM%0I,HBO@IVBME$%K0]QR'\ M)$PD/*DA\T-$G^$I:)Q3UYH":;"'ZIG`57_K020YB!M^(&X<,RPR`04Z[&_I M`)OR\CRK'K`G:I]`>O'&5(]M9VK938SU5CV1%R"K#$GT(G_%CP&0` ML8=#.\^178Y?A$-&U`"35!*>2`H-JR4\XYC+U+&#RJ1RRBGEQ;=KWTZ(>J[PRK_/C3+!* M?S];!4H_Q*&:*VTYLB<&K#GHGZ"E"J44,!@GL-6`$YDS/!<'B50%(+1B_:`F MQ72AW.H$)D.>'E<4`.!1Z5IR^EY(#%N5&L2PL.8 MFPWEX9=@X]Z8N4@77LH"H1P#@X);#%'A$;E2L7_=J+&@X:A-#"T+\@`.2YC8 M9H26_ED4L,`Z>C+\`-;**#!M-NTEB[6($1F*`#XY5Y_P[MO7,`[._03!` MK:2+I$*B[!L94F:>.Q%@[L*3(0_&$'S"F0BCRFP+"7E&++(%:5T9]TI'2S+! ML6*"+!,[Y@LF>4!&_S#B3P)N`4&'0>80*/\L=4^9T))T.-,#T@[3(JI00VR( M0DI=R?H19E*L*6+/&S.T/'`,0Q)G#W(LDI88^@!H%LX"1KG;]X[E)`O'YU"= MQYG5*JE6"_J;^5#E@."TI'@D$UFI39]"UH7M1H,@X,"9&"'9P,A,YA,:*E8#AEZ MY+*_`B0W$6WB5/50KHO(/"'CJ,'A'_'R-&<<&6#_>OR1\)RNH4]0ISM,B_@B MG3$!&BYV03M"]D7R))&^2)7Q1>-H91`OU:P?!&N0E6!``7]\H&%XR:[KQ/D@ MK#A.PPL3"AI[/(M@4U0(6DPJ(V==:&2>\5R*01^0"UNAT9]9^D$MC("XDRQ,YS:SFK4_34WP,\:#A`A]EN`(TAC`,=J7VCZAISS&! ME.P'MO3H8*+F)+Q'Z$$'C3",);.N3Z"#7>)*TTG,+!S+TB#,X=\TO68F^2#\'LY\N)XQ#`CD/)_2[*0]#-0<[`TB\TK43:FV4O%;%B7V MGP&&E(C;I"=6$3V5O$Y*%JU=@&(E%U73^(G=Y#:"RLQ,XJBJPU9H0JAP6@I9 M,"8"9*XGDKD6..BQ[!#R")5+$T7K9C0>!D7^&4[!R8T4*/&4X;IH09W8DS1C MPC95C&"6CF.JB9I"7#CI@Z++40V8@4(3R91NX<*7,T+AQ"\8WDS-_2AV*QK- M.)640`&1N#/"RTEK,9I1-W7ES`!.H*B=5S*8<:A#)02U`((T(HX$,U,XUH@! M*5#41VT\2J<4$2]*Y*RD%B\N;&+KX0J'[!5&W8N;RXM/E=N+J!U9T;I3WN;$ MY=:7MKDW<4/J.&Q6W,O-BEMSCH6[%ZNV>7%C/K*3W8S&[V$]!SK M"@,&E,!J;.YES@EQZ'S/SIT_^W]Z[-;1Q)VNCWC=C_@.!9QTHG M0(H7423M\410E&QS7LG2$>EQ['YQ-(&&V"L`C>D&2-$?WM]^*J^555U-`I1( M`&MM[,Q0)%!=7965E9/)F+J_RJ1NA-EE7%(K."87WK:ZI*8@/ MH8\)F!$O=@*9#^!858E1S%G=\MCW$E!P(Y`4WO:DT]/-@[W6AZ%G*RY!UG>. M)KVP6O])WIV)L.;XS`W`IM M3:_"`\*$'WJ9YL$-SP\;-CCC=4,0/_1"KP.D^`&MQV\8XV\8XZ^&,0;'Q^-W41M)@#>W:5DQ;/KN`Q"NSLB_ M,/%<\1Z&")8&=BQQ"IP)5CS_7AEH/@1#/."P08BY/V7,IA^X)F+QR*F^& MET^W@\B^W"G(6A*2[3$%T/5##,:/,6A9CC'@.`+_A75@E0_S*\B2XY3*$#&O MJ36:^34&L#VF*=20QL`R/W;N7^BD*_I!5C2I[6G/!Q0G`;@UI;1:3GH\M=FP M,[V9N*?7SDFM-CC[W%5X"W3.EC MW=^=W1]`-#`A(1G7/+GE6V8P M#F>[;_P/`UTFY91Q;D[O#9P83%G2&6.`2$IX%%KJ*8FZR'O9C#/TWM=Q0_O' M.N>\AM!X6B(K;_Y<9N-H'/=5.L_I5_NEO(9,N5TPS%P-BO[,^>'5C1PIW!!T MB.O.,/_H#M&-8%LHNP8=+,RI#@3R@E9"IY:FDR1M1'&8ID_+:?N^O8[3B"\!J1&`HH?"KPKG.?A513,;;'(@H] M4,*CQRDR!$7:1!E'/_P^P3"XDZ/B,\AX`E"+&47TTAOW1I639&'.%MW2]!OD M<#,;X*$MGP'6FLJCI13(6:;%VV>?>F7%D^I`]@.C+53*(SCF=]1&C.X,0:,LZO78^]>L`$_21X/GFUOM`U6@+)W5A?!30L$"KIKP>F@O M8H@3`*;B4%I#SZ#$*$M/Z$>8&X5T;_!J>$JO#-XS1=2Z[)"&^8#4Y-WKW_[& MIH#&[O_7?,G\\U=\R:@>LN0/33&MK#B5FB(#@)(/BH8&:L"*(K6UM2:A6?(%91WUF7[5"AP1*ZPC>JJH"B_R<3XHIH$3,O?5^87>CWNWS3,`S[G9D"O4XMHL^9X^ M`?S,N0E)SG4;RT;B#I+P8CDE!0D!O..-HTH;0-;>WQY26A%`-%T(\ZEG8`&Y MFY\*D"#V/7@3G?*=5?82#RR"P**+;!`,"N.,19,A:"_[#/,N>@5I4SUGH>V" MNN3.]^,YKX%]]M;?2O.YL`-1&/W2'7@(RPQFL(U5CH&%*3F'[H0!)(/")\Y( MZ:+55%NK!N,7:F`3QA#F4K5LI+U`I>+8AX80-)N'2I3BZ.M@);]WUBLH[BC$ M>^=NH$@*:CQ0LAKO)PC:\(:7+RC%I&"^5-1]=&JR&Q1CQ:UK?\I%. M`151@YHMV1CB.AJ8/"8X$&1'`N+6$M"D!E,?EFJ2_8>773>`"&>,`.JR>PE& M+KE3>%*UYLK*1EX5G$%1N60<*,XU^P0NZ/H1+ M=08Q;WB#N80&499RB`EGS+=ZAF=9CS)!4-WJ8R6''#FWG+,I`62S>,]JF8BG M!!![(#S\J%T)W-DG+0"[6CDG&Q-0555BP9'7#;;<-/<)++1FA2)6F3[@>:(9 M*)PV#BRJJAP`9%C"QBC,7)FH$K<&4G#F'1G:S;?NG<^Q6M"MVGL`2=?L:)_# M??8K8.+03?XG.,!S^=J"5IW0:/JL,#Y#$_&9`LBK%.-9.:N'H)(J8"5!X`N/ MYOX!CI60CXB:F4TFPQLN=Q_AG6HL@LC)WUIX>B`1@JM/I#+B($*?$I@&=,W3 MM##KX_&--_('3M>6%3UHF&=]%O26Z';C7?6&*A8 M0SP8X]+1(F$=3W0V=$Q.V%+I_#8NPI2P'AYW"4!*#%]49HA^$T6BH8A8RTC& M&!@MZ6QAE10^!E[7%RXIP4_\_GVAI$?#;^R+J?`.0`Z>$#W#@R!*+%J1;F<8 M0=&@$IP64U,L\<[Z`R.7Y+#X!%0KJ>W.Y79X#;?#G-;J"'*&:*M#5'4H_N#T.M<[L`5\8"XHA@-8$-.6C:56S`VX4'ANH'QLA8Z*:32R>&HL+8$ M:>5@HMSN#:WI2\5FXUF=#FQWSH,7H[H_@XT1]YZ$M!*O@%WAG2DFG3N&#P086LA$94'FQ)G-NH/( M`F5='8TZ=W=4-I7;""F[D>D)_@RYO\K)^B5RI['=2@EZH=7@.E,\NE1+R?7^ M9&UPZE(X`'0TO`<_XMU;V3$\)0>78=X0[UHG*.MFK`+]1<;LTOTI@\*IZ^(` M/(=HA-57WR?E&`!@U2))R"C`W<:-YY4V@]N0<(WKCR@29P/T\@E1O8#Q1M/HY&[U MRE'1\VLP*8$H`H![:*/IK53VN*8[KWGJ%(/-I@^_C.LA\TJE<^:%;VXE*5>G M+Z=-D//C?3)A**DYO-,"`=3$KB@G$.!X0E%$M:9*[H*V&]>I]Q>P=CT/4;!\:#-1 M2EC]SB@M3`\.5`O?`I42$GDC/+:D\"0I)5#[8->`/W/N10W\?`4<;"3PJ(#$ M@!FW#-\)35[=($L<1W>GNP'V`0L6"&O=&07+*&J#BM7\ M'1CRGW)#ET/,9<0/R,E67.]Q#CP[1%_7(;OFFJG+!#"WU7GI/!PP(6H)Y`YO MHO,R;CPJDQ./C^'C$56=FT.2UA8"L@=A>.-,>/><4_@$DC.\0].JW_D`#[75 M66].7[[[8"NSY'1!YB?GH9T@(K<&KC2B+3+V`"+U%+Y8F+FQ"X(!9*SV)R08 MQ@_EVL,+C`,@Q6!ZRRLWTD.X?K#:&16(,U^9!]=M686.*:]H*Q(7>24*7$-% M$&AW1[A++*<71?]9YC1G[6S9K"^>C[`R8QS0W9;3(>5,`L+B^.D*;O%X`([9 M@[H6+4^F-4%G8X*RM3CO,V3&RH#Y;^Y+N&>_11$]B`MMNI7:Y+]9'AJEV4%S MI7/!I[*]K,[?C"P"LS%>=\B'!I<@YUM05X!_#>=:_,EN;YTQATQ8!DW:AUVCZ[B^90T7]M@5R#D6H,K[N37P@P<6QQHYN@UF;(_<`]D M:0/L+#$PBIJ9@&0W*Q^EN) M88-%#>)7(9.C+^Y"3D'$VY7#J]RN\5;\)0IY1\9/H-OI>^NPA%[CW!\XR7@* MJ[XHR*;)],97J')$ZQ^4M,UF14)NH7X^P&@ZFPA0/.[4HWLDL`V%AX[A34@- M!-J3[TNW26U5*,68W5P(EZ`KS[2+GNP?I,"_7TH"`A5/H98@D!KZ)V3LT8?9 M<["U?*HW!K/A`!'.4W\IS`*Z4B@:U.3GG/M3U'XF">ZEHB*CJ-8$J$2^*9A` M:17-S( M=3X[)"$(*/Y`99+#_&-1<[H"8IAY5&,2!9G2(\H[HV44O3?[:MY6,W9>E4,ADM1/1Z:Y$!AFS2%1 M\HB"E>472SGTEZRO\5(*D/;K(*3$/OH!V$?GE$W#5QIL10SW"Z.;48@^I-4K MN(A_RB5<@/4F0`>!U<@IY?A!+SV>Z1)2ET/=Y@#+S"R?.&51ZFNP2:^%POLM M70!SP@=#XF_2'T*;AS$.NB_=.@S+B>9R@SI`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```NK*G?$4MS9.-SDPW? MOD3S9^:#W.BJI,P_W<9L"Q"%$!3S5Q^S,<*!V"EF[\5SW[NKN0\%@34F6BWP MP81]2C!2A%$=2VH#;`,6D7V\3-GHDR]=:AK!;"[]6/D?X?#HO\RILD3FWP[; M7^.PG7@3IKV]`UW4/:KYC>(D;?R1:;:L98IX@[C_FXS_-60<`Y9D7C,`DXU- MD7CK&%)ZG%4]ONTNLJ%$)34,)B'L;^?MVWE; M@?-FV_>9$Z?(2PY[EI?%14%=.T:8U0CBGX!!*GJ^853"D]'4E&"8Y"P3AX$\ MU^-!OYV/;^=CR>?C+03R1)CM0>F7>/W4LPEP0#)G./L-.2,SQ2B#SGI5^0GP M)Y(.Q6YA`#$+PAL*P)2<74WU*+VPY+<<`1QBVL8`W$DO$7VZ8LYORLVI![E/37O24VXLN M&O`^\39?HU6I.9=!95T-60Q"0$?`]"A;H?WE((,[9+AV3.BGE2+-N$A(34P. MHFF2://.#30:15R*P5USPAYFF).")FI<#:8$-Y[$1+,E:R$8DF`5$7E9+L3L MZ%$9ME+?;H>D/M#6H;"MAPII3SZLG[LJJNDMP:_(0='D\*:()`%>R!Z)Z>U. MTY]&:ZNEO1TP)M3-5RQJABG*W8/]`.%$]'HE$8@*-D=+"OC9RF](@D5=&PFR M(_N`=5E=P47$:]ORSIK3T[E`IT?H+MME;-VXIF9VPQM^OL?[$'9]W$SB/7'O MA_E[N55-#";KU".HT*W,+(FL_*E.AD"I;7R#'W*YZ'F_RZIP,@Y5.F4`S49" MVA&0AX$:>0+=1>0M!WA&>4F>8N&(%RA&>O:XFPY>^^<5+OE-J_!`7H_7%(UQ M]AV<^$+=&G:Z)@H:?1`3-,J4$IL&?\=W(K`28(OT=0)",R%8UI6(!FM9R7,; M-FZ3D*A=Z9V50]@<-ZYZ_M#\)3&R%[XX1T@;ZLMBHL0-U$^^^5U!G"8/2LN7 M-$&*5!J#K)Y*PPDN\N$QNJEW(/,#<^-#;J*`TBR-*_V%T+Z66YTSWVY39A.J MI)!1QA)T,2T,T-!X-.DX.N^>]C]KTW-ZR@S>1F@?40M1"TI0:=U.CLTS+X'4 MQWB;+-O*0"0S\*H.* M)!QE-2C[C:O0QA=.46):&NAZ4WTWKTM;B$.[(H1XZTZ`X8:8F$\',/ M]!(KI4M9^+Y-FGJV=H5((ZP(.9K4`O/WH+3&X6O6&:L9=EHJ9S@)M\5U*42D MS";<=F4G]Z&HFW<*U,D0?$Q/&FTIT$3F5P612.F">%4L\HE=H@0NIL4%?](' M$;7<*ZK>;`0ARQX%^3/M+Z_A^[4PKUCW8#'EG!T'XMJ69DV#Y\YB&\84M+98 M,D3<+HJSCK4B6!U=YO%J_1`<103/,8*@:T&ABO'J1P4\:#D`'1/Z4]-@1A]+ MZ$P-3CY@UD?4YZ_M1DI5=*8F@.4DX-N!>EZK*BM#)GD&8\PG,;]!.;P93;1&RL(5CP1U M.B'[9E$'@T2*'TOFI9L-'[69&HF@LCTE36/6:R!Y_X!Z@05%"/?#J9'`"%>ZD"A`=+NMB:H^?G2HBEP6;A43@NQ[C)_ M?'S.L\&*^6/JGY(F$!ID;O+UX"8NI$86`V?+Y3EUFE<#CYAKZISH%K%#@Z%T M@XM0+'][;Z9;5MS"@"26ZRC#N!3XVJ*U<`UF,.8:%3:\41C\7$+L/XX"DW\N MM(F/H7BRQS\+"@(ACV;H**$P<2M=.AN'CX:^+M(6#9E26BDAL,6/4DCA^5N" MN6!A)-XXB>&IJ4$HH%A@5)'UTNP0T4J@I8HNN&VDK8ABD&U]7UDUS#(+"_"@ M>:@2-C79YBI$697J$;SIX4]TXNLI:0/@>-=S*_NZQ?L<;`*M'RIO7:UL,#4, MG?:&[AIY`/>BC>S5;=FH+)P0G,J8S6>ZN4.Z40M(G8?,:&T*":/5:6I52.'9 M;BP%WBV]O&\WO0Y-(=$JGF<>-0B2=+@E'BBK(GJ#0!D3,XW5,S`JH(2WK..Z M%=$2U/I(%K#P)]PIAUYYE)@;TVOGX:G9CL`2MZSG;E%?"+TAB169!OZ3-OX,&3L M8`2(0`@]\VP\@1/=@[RC,[7/@JY#Z:KY%('W13/Q@8\,[&,SH:Z$!*GI(1/. M"W%0RQ.L?4UJJM$MTOY:_T%SZL7*T^HW+UY2[Z4DN>*H MAS-"&FC-X!9_0#(I#/\1G-,N"(XD@I0.JQ;-5"8[F01E)/R3GM"/290IF`(.K4YPO+"\BHW6<@@*O4$VXX5:=>`P`_N4NU] M8K4<)J.-Z>EYTB2N(TO>6.=U."FS<4'FZN('0[]JSX&M=*/\6\A3POQ0(!D@ M7;Z^,?-=R"A1=>694HHQ0CJHG/0"HD$:<6?F63A,B?EX8(*]G"&4-,.61\H- M;C:RV/_;*Z/VP>\*]9. M\'YB4C1!V1.SUBW$6B&W<]"8 M*W1?@(KCQ.D)5^9K+M8'FN$\*X0[V[)`:+YT\JP:&]YA[RP/LI[2ME/C58QJ MXB\+9FS!,V.:B_/*$:MIGYO+<&<_JI%XU(5ZCVYKWCEF_L0Y5DP5A2]?9-ZG MF1/-GC9H1O<8DWP3?HB0-$K>O^0"<^51$)2"P-VAY9TN)Y[5&?FJF8Z)/38F ME#%AG$ST>]C<.LZ,HBGKV3\%.>`5#"LV11M-AGG_(X76!IFSE;MR5/`+&38" MFJ!9-Z"&3211C[J9SEI85$'05[S&-C%A;X[B6N`!D%)K[KR8VG)B+9LBT*#R MZA39STZ#2Z.HA=!1'/@H8MCUZ^B+WVF"%,Z`=.4(WX`84."3W^;78OK;@)@*RY]&W&KT$24H(7 MAG.`X,0:'*%GF8"O=K-#;(U!"-[M[SW&.K[!V'?<&PGQ? M.M-[7F%?8M\_)">M[L'_Y;\9LU2Y_Q`%,1A]"+9`[:.I,PI#;Z5'B!PAVLS- M6AJ84J)&(U0U,H$[?P.[P_H(0-FD9ED#M^*]U\/WYDDAY,.]>5+$F2/`,H.( MT+DSG"D-I42A\Y+#5FP$D)+KA"T7&3T!IPY[KJS#MB!*\#7=91]RPH\N[/>= MHS-4C-6U1S!?3J-6/*HED#,D*4'JS<0`[!"8*J5`Z5:'2L=,,SCED/)?()). M\;GDP^*#2K=Q[GO8=]#A%'[7;L5<)_IJILD`Q4C1+V&7R=K-N:# M]!$F1!NW8G9P:3%\T[Z^IRT9T]3^QVE!WT2&L&00?O^8EQ^K;'()RM"-P16L M\!>Y<_"&7X=C^_KT?.%^MA$I'(SALX_. MC/G7+)=`'OU-U9]8%I[,2ZOQ*H M#H&\+)BK3EG5'`N45S'Y"!J\(!DIF)U9U>0MG)=:4Q2G;=7"*!N/<^I!Y92RA85P MV-6*UX!!U-[S9UQB_`21BT`@?,L[RI0$L(4P?1M\+T0F](D3G>``?L@NS"LL M$-%!FL%@B.0AS@H#RW#73MU)@4R;=$T!`T$+@GIY4&>Y#O(JA,?0`@BR;L7' ML=&.TO$63:0[)?>8(W`L:Q6#X3,=U9QLT[1PUB-;'=0FXWU8'6'8T8++:*-I M0*KTTL9"1#JC$:-ACJK,*S2)Y*G\QT58\*$HLO)#YU(:#@SN2&5IF-&N>"71XIPXK00FVE]VMSDOI^VDV2IKH5148 MBG">L-^T!DG'^<=R6O`*2@F15O_R4-(Y-/Y]60GJ(+TC68_Q?1;]F]TE!U1" MBAA?#(YW>?.$P9:C).Z`PL-!L5A%X+>?-CF"\C"PB!HA$1D?TNGWS2;2@6:X M%*A,L-MEHC=6`V7FTUEE;'UT20HRVSDD2K8_92F+&G"5U`8W5&I&ENL)(6WL"O<]!/#=TRCG'%F)D:8NG% M%)J$A@**B^L4W#B7]@Y.5GE2&,,*5(198A\/00\`K51@&`0YLN<$,`IN'2%! MP/NK/8.4T"IH]4+'1H\Q)1Y]F2C\N0M5Z(0_);%%Y3[=A+A#AM7MT^!)B:`" M''%MPWWAWF7@E`)3\T*-':N(_QNG8^+DN$J_IJI&X_EAU%-)!>@S\82 MA:8-F=7:YAGD?0:XXX+GAXFJNG>9]V>@$C490(#:CP4&F6%2T#>G1CQ77E[1K<+9U`%RINN=,:L%Z@S"DGAD7.(, M@AN!N[56EWR35)<8,VH0_..JZ5]+2M;GRL+/[CG5HA1U#'>V9]87V4)OG:)* MX8:DZ@2"C4[<,+>H16[-2P?;?`H`/%P3M)+UB9B@@ZZQME:`Q@WUF&;F`NEJ M0H:YH!/3!Y'=07FV0LT<9RJG1$_$BHLJ;EA*PSI5(PLT/Y) M.8W5$\&>V;1?M'96CN$!JK9L;T0/BRC9*H@G(E:NGEXM%NHG2RG"'<(&)4&K M>E@N[M,;ZFANOPCE$D6_R"K?S:[FU@=\YL"%"OH`IZ0&6+2KV63J3175LYW? MQM&<(CF@4$H65ED!FA8+!,[#(_07Z1)*J$S`2<.ATSXC/U/9Z\*9)QH.P-)N M&;4Q"!?1>OQT(Y#-=+,=C`A25R'?VBMD^M"8]_!&-"I>((2)[I)3F6,>N*@O MT:,66+0?S&/"LM`+->!\ZLUNQO9XZV#4-=ADN)^0/PX[1,Y9("G?P2B)982Z MM:=Y9N@C(>D$?J:L^3"[(7#T8%8G.YP3X-0H+XJ,U\%@TP]04!1E!K(.K8%=895$[B;<, M-#BNFC;QP\K\D--#:9OI,H78+)=_36;(Q#499KW[]'IK(KG2\;O?>4\J8DX7ZAUUXPB0%KZI[$1(9$Q_>.<;M-X3W/^ M9+IZTT7A1S@VQ3$TA&<"(-+YER2.CR99!VZY)-J64_G=A0_=_PDV@7#8I993 MH@"7Q5AJ8E#X<#Z9#_$%AF<0R)-3(;&#=(XXYL<`JID9ML,#HZP8=Y.SZV55 M=1.[E[:`P^,+=:;E]Q0\B0O&0JH:W",;'8I80[2L6H#3##>S.D\2.;3W/^!C M&:N=2)&TN0OLE?R01-/[LK3$ZD0^/A+ZX)00_KP>6F(V<1:XJ,#7(-<+E7OI MV62G(`(S,5:VK"+*O:;V?>FL4[R8/N0!.`4VY97!0S^!K_Y>5N[0P5>>8M;5 MUCNB:7SI=5CX>4WDH3"-G?JHZRP4<2'WQ&RSR&O7GONP__K\EW$_[DQ]"VP4 MOL.$DK=1QJZ:/)U3P/'=Q""NX2U;`%F+`CVF-'PY\>AL;*=0]&>6&L8612B!5N_>ZQ;Y_BUUN'B>"6.* MM%*I:B+*G5<,L`A8J/+Q55&5XS5I?XI$CS^K:>N+%>\K^A0IQ#;DG?%L=$%9 M-^BL4`%Y@E+_(%49P'E*=HQ5\"[8@VFSXJ MT8.5JR-,J69BE.958&;RJS?'N7+RF$\4B.034W/Z`-V48;$'W*6,)5I"]S^U;Y6A>\[/,^ M6E+S[]%/67*/G%JPX_T"X5K$5>B`)V7EEB$QH%O:/H[8:^RZL\3S85QTB2+O MIP&/-F-T)06/P7/2H%UU3=`&U8T&IUE2O])';NY]1S/Y]OTU;H;9W^3.KJ$Z MC"M1[E1_)PWRD$18T5N>%O"4%&")SL<3"Q1F_$=D!"S!Z/<5='#KLW`T-5D\ M`"2ZXAU?0%NL_C[_$SX%9C"\RD]@'\`.(/'DJ=X^\_L3V46=<\,$R&90UL58 M$PVKAX+QS42'I6!#/B[$F4@,:B3@%ZE"8D#I&BSX[XA?FC>867WCCD/Z,E#`E,2/.1WQUX M/N#UU(3FHBJ%8DKE+[*)/#*$@V88?0@,\FM9$=N3W7!,`2BSK'RDM=%S"LHE MP=V"Q5@#"?COO"K=!8D$Y8L:E;]?%L.0A]T'ID$"$`XJKJ=U58U''?V-F-$` M9.3YN81C6%@2[14^<3LP+4?\I_`61U+CX0W`DJ8@-+"%C&'%/L7UI845ZE,H M+CU%BB%X7*HW=-,]"D5$4ELDZ](@'.^K)DE'Q-25)(F-&BK%UG(0,S`O\(8X M:[&2]4_8Z1[MM"]%IC0->JY]*N=J43FA_$.(K[QX=\\./&JQG9='_L MO'B;W>QN[^S\L;-//^V>;;/_Q-@=WYY0IPX\O>J<>OIH-SX#BNN8/ M;?S]U@.%S8_BAG;.?N?I(H?9&-U>$MY\.$'.)FD:*3!&#1L"'9CU`5,PX8RPQ`L, MF&@["9SZA$XO#D+?ON;,?&KG#=S&N#U^4_HAG4)?0:8A;QB M*`U8?8$>9?0X`X\#1W&K8P5>U*9H3'SHH>S,>U%\&+5-%D6STMW@W[OPC<[90==/9VX'!M_<-GAG$*%FF!<=!P`DRC&)#L[^Q!H:C#&Y&4NLX#G,&)` M-.2O@J>U=3W8UT867M MX]]24R[:%*?\>U@GB8&-XX_$2DU44O9S;\].3D',P"\93]W>4LH-/]$0-_KP MR>^G]/=0ZN"S)^YL$(:(AC$!%?_@SI-+8`S!P&W9^>WLU=/&@\PX/[\\;7XA MCBV+,SDY-D19$OI.Y"9*[U?%7Q+O>M(1L!)[>G1U;+<0W M`N9C)0$_ZQNF6_+XKW$;GK3PA?%"-!%GC.S[U;G MMTF?J3'\]5RVM,GBQ1>4>'D!,\NY3R-``MV4+J?3R??/GEU?7V]=P$M7$+=S M!^49&88`Q6]^>W()I\K)ZI/#[>VGGNQN=9HF_*VF>L/968.0QZUF M_(R"K]QX(O.FHEC`76/7.!/IAF-A>H6P'>][2^"Y@(MTE/T/;H8;I03T^O<4 M8X5NYXHM(+2+QM$4*VNP?V";74,?1'?P/@LRBP^?(DQ)";JYU=B+!&%Q&)3@ MQT=),V)=X_[A\<^+K&T(@\+`R6)>CY[2/E.FFU^(1Q1%D,[RP,PQ+GWG&"N% M8&7TNV_INS_A=XW)\T#K\7M4+@YORS1?@;Y.)/'$">R&GAZUQ"VN"*W2H`RC M4G##&D<>HQ>@;K@>"%"QXX<3L-D`Y(D6]C/Z19![`ES,M""%C0!6^U6P`.Q' MHJ&8I!F!SN`-831[8@5_L7F'/.=8\(KW/GQ5C1&A%):,#"Z9N'JL-?&#?0!. M5IOL'5=^A.`/A@!'L>%\[V.](_W\==[(UT!PB;;T'`NHW!_JE*>D.FA[]U5D MNZV1WM>5\,SH:C![6AZ*)E8&8DY8C-QH;:3#[*+`0XZ0(32(Q&-:A';F<&`K MUR9F8%5YC$7F"=.E#!6IY0G!EHT]CR,SYT!BW\]!"UK1OFG.A0![WIQZVHUK ML3Q?N\$KM,]7*R<8@Z.3#:G)%+R.Q0008&>$,&.SM8F;5EEZ$@EN80T3:4XW M)CCMMK'B=P-E97\?#P&S]Q4:*D\%`!DN-D%2ZY@&CHQ9+K!#)6$&<)/FSAH" M#G";F=_38^Q1VFJ?USGB>D? M!X!R`+KGB*WW,WS:;1D!0,E<*BIE-CRJ5^&LXM[:2I0%SFL/!#J`KE:UCN]CV+P M^_,1X,)O+9!I-".9EE,D(L1,JL&$2<%\?9U-I*"*K:X`DHULF;`Q5KH(Q0UJ M!<,:_C=P3OEW%$J`T?&G1IU?T*71:'S\RE.J)(2SC2XAL:"'H'C,`7$C1A\M ME8((ZS+Z*H=P@>L\_X25-1>VT:R-M$U#+++EE'&GQ7VA&,H^U2`R>(X8;EYB M=7;%5F4[Y2`J=O?=&5$5X85F=+F[H2^1==*MDIA-MW'*T3V!>K13N?^IGVXE M_,@9$3I@\^O&UN2?*5IHIOC$WIB`(9W=2'-"JYBY))WQ(NQ'DT`\)1`$$'%+ M]9NTG9$/*@FX$,Z([>3O;WU$[Z@PR!9N8IZ0`[98-\5&+`^BM M6%.%]@C1X[DET,?VKU.@DG:_F!&5`7;Q"P!P\='/#'VN%S/V9:'F5WIE!_.A M-J<0WH4!*^>VTU76KS((7O48>E=?0Q!OBZ&*)JH]G4(_2^X\``'-]`J:M;*W M!-`:8"+?Y@B:G"2^RB/`,%&=4X4!1;BY:)N""JWSX*/$J.]M&QM8C9K-&UPA MVJ*$:O)RDWP(+&80Q.&J:GI*[@TJJ>^'BP`LUTVT7%L.*-<^`#\>BBA(=Z&- MVS0BP"$X^"S.&#GBV\;<(@)\LRW:F2PRQ^&JD4=Q5W2<.GHU&1*D<-.U(B16 MAM;K$!'BP*\3O";/&NEN,J.+*B<@AN3FNN'D2VJ.&BUW/L;(0*&X=%1FS!&M M%=I@1J@FB$(XO4O(F9'I@Y:)#8G:%I+ML*);$A(`U%P?Y%5$^5W/":\R+QF\ M^!ID83YPS]-B?$G1G@+/J\^ND+RIEHTAE^[CMR5R0KO[,FRTA;<(@&&$,:$< MQ^,3QYOH_8#(2S@5^AFBNN!_D-_4J_G_LGU.B2>T"A"HC>)5I=F(_RP`;ZDG M-6_%C.J-OJRU=KMB,!\A`NB-/]>&W`GC(\\8P+A MO)!8`;D>E?A"BQ!M*5L(N`*,[A#OZ#'J,EO3KE`3;FB+4RJK)A[.S_R:JDS=19YU[GVH/H_Q@F4$:=S/M^8!R41VE*&DY\/'4'J3D8BYE=>Q3,,$RY%8=28F2IO,HX``\P*(<-[1_+'"7P8V9ELA*D=K*(>['T9;+ MZ5=34(1_&!JT@\+9W456*7<[,2F/^T2J^!&+.=@1)J,;.@84+7"#"UH)<5W0 MD(]6I9%^76J%T'SBZFW-A9@\@J4QK2RMX9+"@C(I6-W!V+QN6#"<,]JHSUH_ M!PN4&KXD]T3LH!Y;SM1,TMC/W(S#[Q.B<&`G1\5GD/%$GLVCA1OWAG2#\TQ< MZ3?(X68V^0A;9$"DY!I$U?Q.F19O;Y0ZYY,GU;DJ[4$442. M'7H`6AS_:]8D-B*$FKVVT6R:3,2"9?JF$1A^P.EW\JV]E]"5$\!=J]/T[J0> MB7V^ED(@M7CNFAM^7FK_D/I+F+0+:C5$87RT%^&CF'<2!)DU]$SPV*`(\1A! M,+^LB'+]*;TRI,0)+L_$.S)DHX.%Y2@\O?V-#:[&[O_7?,G\\U=\R:AJ+"(6 M]83T0OF?!5BB@1JP*;)9I\GSX0"CO1C):Q57)9"D"&5KO0*>K$C-T7=G-UK: MU2B"E%Z_B>]"U+J.1#KTZ6\?N'5,C&E"S]V^:94!][WM>F:[/D M>_H$PFKG?E<7H^3`'23A190E$6E#3,\;1U"$*L:1^ML01^#86A>B_^H9V#S= MYJ=BW%??0RBO,X1F>Q&*0./&HHML$(Q9XHPM%2YT(\H]D7V"%`"_@KKDSO?C M.:^!??;6WTKSTD>PPE".".U[/,2Z8]R/@`$4*U>HK54KU2VE'F`N5`^-9Z[RA;L>HDCZ%BE!)R$N3J#(-+4APTBA06@2 MX;T`[80NU%!B*NSE(YV"J&-,40F\!B;/!5'(3`<"XOM42:H])N_!B@:X[+I! MYI#@V^6@R^XE&+GD3N%)52B6E8V\*AB:IG+)Z2&<*[#!]/.!N\R1'):IA)F] M#U[7HZ+605X^A$MU!B7JR+(S=_=A.<24?N1;/2,F(CG*E)ERJT_$,+Z(EPM@ MJ56CG4@M$_&5`F(/A(-U@4:AY6VV1:QB0U MH/`\T0P43@NX$IVR&$`F,:A/9<"B2MP:2,&9=V1H-Z&([!Q!A&[5WE=8GDB. M]CG<9[]"X2^ZR?\$!W@N7UN26!,:39\5QF=H(CY3`(F68CPK9S72KV%7-:Q" MX-'D3W2^GV1"HC#B(T.5ZD!6=` MPGGCC7S;N!EZIK"@MTQ'IH[@&W>*1L5LQ&!1I+W&DL'XG34&*M80#\;IZIZT MCF)[!"EXW#$Y84L%R<2T!0DR2HZE#\0>J'ECB;R40]Y='@@BC&_H)P_HI;=,WPHP+B@DUW MK]!O?35`-WD4X(V[&IWD[2NTA)N;K)=8"X31*]^WDA,QT97)$ MXVTM*0:=-"(8*(0:U)CPH'`+(C56TATJ,X:C(K6AQ4B"B7*[-[2F1Y#-QMCY M)1'8[IP'+T9P0`,7$O7'YQC[-=>^%E8#9]?$;I9X';43'S820-=O(AMZFLHO MKWS:\R2L-L$6*`L3>6)FOBR'BF\BM)`Y<6:S[JAO05GW#7%S(%>;RFV$Q>=8 M``I_IJ8)X]XE,DRQW4H)>JFV8?@I'EV"6'(9`%D;G+J4T@`=#>]!H8LS8_A* M'49GWFA[/\L.1X/37V3,+MV?MKU2%P?@.40CK+[Z/BG'4!]<+9*$;';.2J8' MO=)6)H%>\#3A$@NJ!Z7PDS;)XSCQ&4AU(P/OHSK(?-:87].CW*-E&S=R-"4J,9JW=XQAM5!:5Q-S]TF-H=\X%IMDJH*.K&`-_DHZ5S MVR!KYF;2]86W=[Q"^X<8>(.F+RUM-;!,%G$&:"%C+RM?GA@L']I,E!)6OS-* M"].#`]4B38.U3M$;X;$EA2?)4T"U#G8-^#-HS09E^P726$VIO@'AYE$9%$U> MW2!;3TYWG.:DI>J:5AUZ=K?L6<'D\M$F8-9,VX/RVA&*!O>#D''D$Z*?SM\+ M[NI5H0*!=T&]"HYN]J8JGV573Y#W`.`L9BCG(=V@H@E-[C2 MB7[?JI["%PLS-W70RK:N+5,NQ@_EVL,+C`,@Q6!ZRRLWTD-*X)O9]B8&7+=E M%3JFO**M2%SDE2AP#15!H-T=X2Z1GUP4_6>9TYSUI,(.O>3Y"'A`7VG0KM`ZM+O-/-Z^7NNZH/-\Z8P[*HPU;M0Z M[!Y=Q?,I:;ZVP:Y`R+4&5Y*MW*27'X;VY)I,V1]A\Q2+G25B!O'RQ1JAPT8> MH7$J<5Z"D"Q;C0]_GVADA&X;IN'+P>9CN8H(1%=[*S%LL*A!_"KNE::U@267 MA!//OUGCK?A+%/*.C)\F6_I:+*'7./<'3C*>PJHO"K)I,KV5V8WK'[26VV9% MPI+#?C[`:+HTUKG,0#VZ1T(18GCH&-[$74(SN2_=)K55H11C=G,A7(*N/+,Q M>$ITD`+_?BD):+09C0*IH7\B328KSSEFX%!>;PQFPP$BG*?^4I@%+";.HO') MSSGWIS`$BXF2S*(BHZC6!*A$OBF80&D5SLWF<>`,'^7\ MB9[6^)HQF/GRQFW@IS&4^5&(@V/6\*_B`%DK3\!J*G'/"[3P;9BB%*+8RB3O MS9@"D7E!XOXW[,L7S9;!Z?(WSV84%S5[SXJ(4`E_VNPFPR9+D@A)10ZS.(R< MA6`/1<^C&I,HR)0>4=X9+:/HO=E7\[::L?.@36M!['3-7C'":Y`UAT3)(V86 MEE\LY=!?LK[&2RE`VJ^#D!(IR0<@)9E3-@V-2;`5,=POC&Y&(?JPVKY`HFVG M0;B$"[#>MG\S.:4;Q M5'PX$UC[D"/3*[:M]-1QMA[+`5G@JL#\]^4-_#@>#'V]F++?]$T9ET)CXDM' MS%Z@KD;:3(GA1?IH!)6Z^C)-LXIRA8.L\OD^#.TXBC5=C:E\E6_K^Q;Y%K430>\R?NJ7D*=#/)G'%B]F<_-9MO8A,(E M,[9>-7BOP0ZLYTZ[(CXTF1$26G";?\?K\R*G"MYR,)#,)7Y&6[`[81^R),.] MB11%D*(`-2)E&_8B"&]?\/_<3JS!4O_$I%R+RKQ\S\:4R\$4-X+--R9F(@N- M,._"LV15DHE']PS*5EQOHAYH$MGX/O-R+8J-B"#M[^=8>OBQ7US)C]RSA5;R MHJR<$M]$,,>DSK_OR$\_;'3H;S]N;&\X`7,F@_-4G$CHOR>@7/G?UT5_>OGC MQL[V]G<;NMO32A_9UT]L[7\7;BGFC'_<^&,TE3W]]M=/C7($M)*8*?-P?9J!C>L!2YEVY.9]=/AX1BH?G$ MD\`/32)Q=Y_\ON.$_8<._^*BG$[+$?WN7B=`O0'O"`#&L"8V9!;JR-1G"DY/ M;JII-/-!IL$N"0!`ES*;!!6ZR%#3KSV/V#>6)LS*C.=NZ#[4!=:8;[7X!Q/] M*<%6$;XUK*P-(`Y82_;Q,F6J3[YDI4.YFT2;3#]6_D9,.P,D7=H]JO^-8B8MH48%47V3\V]RO@)RC@%,,K<9D,G&ITB]=10ISDT- M6@?950D-=DV4F\;1L'/049T^95BBJ8\09..`J`^Q%D#P,("?W!U"7;&(6A[H M.X'3R3*@#`2H`7^HRUG5XVOO(AM*E%+#8A+2_G;FOIVY%3ESENG?G#I%8W(H MM+PL+@HB^!QAIB.(B0(NJ>AY;NF$=Z/I*L$UR7DF7@-YKL>(?CLCW\[("IR1 MMQ#@$X&VAZ5?XC54SR;0@)9[J?8PM,0(YPX/T#%W$UT#.%$ M^1(CMYYECPB5T'*LVZ8FV%5+1;*:IVEYX=)?H/K+-QX\GU5CK+F=*V:*7S:\ M1O+E)QARQE@SG."GT?;[^AB+VM&LLR?0`$2?,&8.M?!*S!4B0T)F;@2=($3" MT(8Q!,-CBBWOY1@@"\/4Y+'50YQ\H@;C'NFP!H'P4].9Y)0[DRP:%#_Q-F"C MRXDYGT'U70V9#D))1^#U**.AU/20Y1TRI#LF_=-JDE1;6DM?S,UG?7\%FYMN M(-8H$E,,[IH3TI]CW@KXU^.&NY[H1#,J:R$8DH05$7E9+L3^Z)$;MIK?;H>D M1]#NH9BNAQ,IG3]WD*VFMP3%(H=%$\B;(I($BIECU1==N-/TH]!L:VO/=XW5 M@?'Z%#7C(.4"PSX$<)QZO9(82@7\HS4+_&PE4"2II&X1A`F23<3"KZX`+^*- M:5DP31KJ7*##!'2UZ3)X;UP3B?[PAI_O`44$CA\WLX1/W/LA0$"N9A/4R3KU M"$J`*S-+8D-_JI,AU&N"M*O);KCH;G[(Q=1@22NKPITNJ"$J`^`XTN6.@-H, M%-@3Z$TH2S1`[<#KB2VKC2@S#K67U=[P.*]POVY:Q1:RCAW3R9`]&'=PH*H. MVW,108X^B.DC94J)'8>_XSL1E`J03_HZ`=V:T#_K2D2#/<0VG-LH>)ML1@U: M[BR*PG9`<4'WA^8OB6R^\'5'PD=17Q83Y:2@#GK-[PJ8-GE$6[ZDN5]D"1ED M-:)/B:(M,]JLFWH'LIHP[3_D%A)XCJ15A[_'VM=RJW/F&XS(;$)-&I+E6.XQ M9KP!AAT/E!U'FL9W-,C:U+.>;P,E$D9+U'_4=`.4:;>38[N02^`K,@XS'PRE MUV0:6#VT[OX=JI@_A."^9P7.1X\NI$`A:'W+0DO30#3K:<0`N#++2`96EI)0 M`=R7/GUU4K2P5.HYP*^2N4JO3W_U8SU.H:>$,]`Q;G94MA3H,_.K@LBU=$'\)2#"C5V@!$:G11=_T@<1 MS=TKJMYL!&';'B4[,FW'IVF,IC@OTW9D#875I'.V7(B+>YI%'9X\S+ M%DN+F.M%O=:Q[@2KJ,M$9JT?@C.'Z$'&3G0M*E9!;E%?6[)L@(\*G<5I,*./ M)73LPD:"UXS=;+^W4B6MJ0E@/0TXKJ#$UZK,S+!IGL$8\TG,;U#/KEJ@04W4 ME8R@U0_H@K*#CA6R4ZP*94XD('D0TW MG0[HU!T$$FZXD0&$PKIL*P>=I=QZT!VO/7M`?`J&/E*O+4RE8B\MXG52&K)X M)"A4"NE'BSH8)-+PR!D@[7SXJ,W4#@7=[#EY&K->`\G[!Q1,+.#7'@_9YC!] MH\,J?HX>:5F\GMZH%-VVH>[:X:3U"NO`&"OH;T76=F%!JPERR4:NP3:\D:JL M^7#'6.`4%P.T%'SI>=,B@?9J`D10XNTMG6*QR[HI>OK2JC%P;+A64"O1[K)S M?/#1T^&*G6,*P)*V#EI>T$9RHLN.-U@',)<3^XR@P^>=" MNQ@9CBM[_+.@(A(2AH:/$RHSM]*UPW%L;.@+0VW5E*DEEAH*6_TIE22>P":8 M"U:&XHV3&)ZZ.H0"6E"S1K1>FBTR6AG$5-$ENR\J"-L6.)95PRRS&`A?-0!E MTJ8HW5R%**M2/H,W/?R)3GP=MK0>!ONZQ?L<;`*M'RIO7:UL,#44I?:&[AIY M`#^BC>W6;=FH+)P0G,J8S6>ZN4-N52MHG1_-<'6*=Z/5:8IU2.'9=C0%WBV] MO&\WO0Y-(=$JGF@?-0BRE+@E'BBM)+I]P)D34ZW5,S`JH(:YK./"'=$2U/M) M%K#P-=Z6NX6-PZ@3!:\K^VV^!RMB8(K$\J7HVYH=QRV:9@T4%E6@H;;"=SC3 MED1S*;"WIME1PU.S+1`EN=M.72,^$7I#$E&R'8VF;80@,G8P`H0:A)]Z-I[` MB>Y!3M69VF=!VZ4T;4"*P?RBF=7!1P;VL9E05P*'U/61&?>%.:GE"=:^)C75 M:)?I&[?5FF5K]J`E`ECH1UECYU!M[TEU(VL@FD5_\R2;W(N++R2/'+F1>FXD M3]3ES75B7D)J9:CPLY5]<-?Z#YI3+U:>EO]Y\9*"-V4)%D<]G!'R8&MZNOB3 MN0.T%]8:[(ZSX:"?\B:N`A+5;[[,>I^:U?'UW5HD&`M-S\T+&LLL6TNO>L-2 M!C2UM>W)"GO/8]>>R)A:5%O5`L%FM^T5\VLA61O$(6%#N4$7W"O5#*C!YIMM M1)Q()H4A@()SV@7!D5R3\H'5HIGJ1&D[DJ%$8S>*VDGB#-6?+(*2Y2;%&D2EGF#?M2+M&A"RPUVJO4^LEL-,NS$]/5&\G9H63L@*B%KN% M62PDM^[:SJY5AK&.#%KN7.7CF=Q<_A,CMX6XC>A\.0L<,XKN"U!RG3@]X&9,=W5> M.:)U[7-W'6YM2$4AC[I0[]%MS3O'3"`YQXJIHO"%FTQ\-7.BV=,.U>@>8S9O MP@\1EDJ!%I1<8:]$$@*$$&P_]/S3Y<2S.B-?-=,QLL_\6DZ;EW3+U3PN!2\2)-_\I15W09`UE\;5^#5(0DKPPI`N$&9:@R/T+!/P MU79^"-\Q\,>[_;W'6,TZTK2F$>,RZ#?'+L>7"@II1WX8&S:>0>8H& MB0?9\NF;.U3*;"QEY@U5$N'#TA.-?XM-UUP?`2B;W#1KX%:\]WKXWD0QA'RX-U&,.'.$QF:T$#IWAC2FH90H=%YR MV(J-`%)RG;#G)*,GX-1ATYEUV!;$$KZFN^Q#3OC6A?V^U#'J&)29(O9D8@!T"4Z44*-WJ4(V)#4'9 MZ,.//S4-3NQ[B#!JPV^W`NXS77639*!BA,#:\.MDS<:$F#["A&CH5LP.+BV& M;]K7][0E8YK:_S@MZ+OH$&@,PN\?\_)CE4TN01FZ,;A<%_XB=PZ>DSC+=9&' M\:%$!Y"Z45LEA8H9I?3,\.MP;%^?GB_5!I>AZHQJD,@+POFJE-6-<<" MY55,/H(&+TA&"J:G5C5Y"^FG%DS%:=NURC%!3`H*U-(2-Y<2D"%2`G0;H6HD M@124;1\*UQ8VD_82<;]17@EO4.XY,'A21KH.\"N,S]$""K%OQ<6RTH[3\11/I3LD] MY@@UR7@?5D<8=K3@,MIH&I`JT;2S$K'L:,1H MF*,J\PI-(GDJ_W&1&'PHBJS\T+F4CLN!2K)]0=RUS*+%KM\8H2SX*N8U`.C6 MU^:69(:6&T<$B7;G[*410VX2NH#'"HUHSD3Y2X3R#!DU'$:S`B_B*CH M+V8W*-WPX8LQ,#;'T8@I=4D,!Q<5U"FZ< M2W\+)ZL\*8QA!2K"++&/AZ`'@%8J<"N"'-ES`A@%MXZ0(.#]U:9)RN`5]+JA M8Z/'F!*/OHP5_MR%$GO"GY+8HG*?;D+<(EAC@?I3`S+?F`_XQF43^R:YQ$N6:&L6N$V1IV1;"&'%"J^0KIF\ M".L_[O:(QIMBGL+GG](MB%>=OTIKL#*`55!#DCB>C).%HS1+N*;2BQ[>3MQX MFGU918.&32>BI99]$\T5?<^^_!KM;I0>L&/`726-W7'!OQUU`!V7/V8);4#A4O"2=< MBL!T\CX#W''!\\-$5=V[S/LS4(F:#"!`[<<"`SDY`PV8IXE>298B8;:LE9CB MR\POH>>2?4+3&AH2%B":%-D:YI#D@\L2*T9C7,C(W:>!1)!ISC!*+&H?8%^- ML:`9M4^IM=B/QTV04=#[,6,;4ZIIQN5X4V22T%,(=;!3\0ZHP1:QPW"!U558 MM*R^OZ%;A;.H`2>/USIC5`G4&84D\,BZ$!L&-P-U:E$N^2:I- MCADU"/YQ;?6O)27K1W7*1 MVQQ;8C.[G'D%NMT+-'&+1;J)TLIPAW"#BTR%I89PW)QH^)01W/_ M22B7*/I%5OEV?C7W?N`S!RY4T`@Y)37`'U[-)E-OJJB>[?PVCN84R0&%4K*P MR@K0M%@@H;](FU1"90).&@Z=-EKYF%\X\T7``EG;+J)U1N(C6XZ<; M@6SFU^U@1)#:*OG>9B&9B,:\AS>B4?$"(4QTEYS*'//`17V)'K7`HOU@'A.6 MA5ZH`>=3=@B<\X"2?D.1DDLW=6M3=TSPY,)22?P M,V7-A]D-@:,'LSK9XIT`IT9Y462\#N;2I=;O<%GEG]V,P=X`B+1:B4Z8G.DQ M0HBV,?0:#.H`!Z^P)'-2@EO?HZXPR!MB'5P%N\(JB]I)O&6@P7'5M(LA5N:' MY!W*4TV7*<1FN?QK,D.:LKTUD5QI>=[OO"<5,:<+]0NSA,`-Z<>8R!@8W='^=U&J.RC: MT@:E""#!_E+FPJ>Q`5C(2<-[I&-#D6L(5I6+)'-K['_"QC-5.I$C:W`7V M2GY(HNE]65IB=2(?'YE[<$H(?UX/+3&;.`M<5.!KD.N%RKWT;+)3$(&9&"M; M5A&?8%/[OG36*5Y,'_(`G`*;\LK@H9_`5W\O*W?HX"M/,>MJZQW1-+[T.BS\ MO";R4)C&3GW4=1:*N#"78K99Y+5KSWW8@'[^R[@?M^:^!38*WV&VS-MX<5=- MGLXIX/AN8A#7\)8M@*Q%@1Y3&KZ<>'0V]H\H^C/+S);X6,"*ZFP=4`IUBD@" M#SM0B6M<,(H`AHP43EVA%UZWZ%VA4``FB[KGY`FB?Q?.`@J*O]401+B_$._: M7N''(7=G@M>Q62-M1P5/#6.+(I1`OG?O=8M\_Y8Z7#S/A#%%6JE4-1'ESBL& M6`0L5/GXJJC*\9KT?T4NR9_5M/7%BO<5?8H48A_VSG@VNJ"L&[21J(`\0:E_ MD),,.5,(CD(6*N^;N!Z93[[!I^+)E3*M;P3\@4:#`-JK^" MLQ!6P+A)^;$)?02*6`>%$`Z70_+\,5Z'A3"4!J7<4ZJ-SI8=.EU=BEDR/S;9 MNFXL\T6P,3%VP^7J:O"&A*8-B#YE+.$JTI>Y?:M\K0M>]GD?+:GY]^BG++E' M3BW8\7Z!<"WB*G3`D[)RRY`8T"UM'T?L-7;=6>+Y,"ZZ1)'WTX!'FS&ZDH+' MX#EIT*ZZ)FB#ZD:#TRRI7^F@-_>^HYE\^_X:-\/L;W)GUU`=QI4H=ZJ_DP9Y M2"*LZ"U/"WA*"K!$Y^.)!0HS_B,R`I9@]/L*.KCU63B:FBP>`!)=\8XOH"U6 M?Y__F564KH)7^0GL`]@!))X\U=MG?G\BNZAS[@H!V0S*NAAKHF'U4#"^F>BP M%&S(QX4X$XE!C03\(E5(#"A=@P7_'?%+\P9S3I5EM93SXRS5-`NSGHA(@JOS2&X?\9[2$(8$):3[RNP//![R>FM!<5*50 M3*G\13:11X9PT`RC#X%!?BTK8IO2&XXI`&66E8^T-AIL0;DDN%NP&&L@`?^= M5Z6[()$#?5&C\O?+8ACRQ/O`-$@`PD'%];2NJO&HH[\1,QJ`C#P_EY`)"TNB MO<(G;@>FY8C_%-[BR%X\O`%8TA2$!K:0,:S8J+F^M+!"?0K%I:=(,02/2S7' M;KI'H8A(:HMD73JDXWW5).F(F+J2)+%1YZC86@YB!N8%WA!G+5:R_@D[W:.= M]J7(E*9!S[5/Y5P-[EZ<0%`4VQAJ'D'_V[.J^A[DZE#=GT`^LEY\!4W7-O]OX.\RFAY=O>'CXA$!%E/OA M&*KCNYU?G9V MG^WM^`/:W`C_PK@#T1(WEOYXW'_ON]Z<@[A]\6Z<,JO[\47OU&.'LV%B>[ZP MFM+/W%D,"GE):;)@H8*5:5\!72SS]Z8TK]PZO:8BNBOP4FXZ._O=#CR]>ZN8 M<05<'QV\)C79C2G]S`*8CH&^PE$NQM?G/Z%=W"4X$"21\XJQ#7`-=T:S M*020R`LE."\C00/+?:MC=UEN==&G3D]=CP4'4",]BB=E2;S&#%[\SPA*C?@Y MF&:X7N0O#,K>C`>E`>%HM$R5#FO#=N/./S%U.SJO>VX'!M_<-E+/*?8]U MQ>*B">_^NP*(W`=W&V65FPKR=76.AU"DB8N.`V!4V]R19VURS]:D"&+XP>>(-=0H;8;*1%J,FFRLPI=6<_ M`5\G0CP81V84\HN:P0$.?`68ESXQ]+O-QO]EX"*T7JF)GA_I_10V)$%/IG^6 MW3;]%VAJ]$[<#;F^>SZXBIGZ:6=@F4`=`GX!_N,.8AE"D:S5Q^8//O; MV^::H3_M'#S_P=XWU`**-L5IO!X6KJ&G>?R1:(*)V\=^[NW9R2F(&1B*XZG; M6\J!X"<:XD8?/OG]E/X>2AU\]L2=#0)UT##&P_4/[CRY!`H'C*25G=_.7CUM M/,B,\_/+T^87(FL0:S1RMTLSIV)'=+QRB)?@=XC4$780_):^;GY(GVL6?N'% MCM9EWAU0[^:NUQ6I='(&5[XO92Y'%\68K<^:7%^$(E,@$R1WJ^.OB'>]:0GA M83R].SNV?(-O!$R0249TY&Q`+HCY!$<#H3JMB^Q>1X-0]UM+44#1:FXU.#W= M%5#D5R:<'']%>/VK?##$?H')4\L)%$0>&VI@0/_AEB'G!-Y*;;?L0ZW?'*+# M:W67Y,RS>'=*WZ*K^7%87@!DAQ<5*S+PN@/D6IRL!*)#\#"-"GTB2."Q,"Y/ ML\_`3RC]8L:1+F+2>-B=#&K0)-)K!+W&+ILC2%`XOMDU&H\==.;%KXH MNN07>W9] M?;UU`2]=02#%'91G9!@"-KKY[?=@X/=S>=Z;&[U;3R;S7= M&][0R1#KR;Z";=_ND;::\A`-'8:F_"M?6N'LYDTT8FCWV/*-I9;V%+'WX-13 MQ3%2,P*Z!5WZ:V<<[>QM'1Q^UWDBOX/<+609)U.<:&=O&XVYHZ=Z'<'NWS:B M[OO.#V[PG=W&X*_R'H]-AN+A4[*EX)TVI^5FGU@R+QA[X05\U^O#50PX+ M'+>ST_]^_7WG:#)=/`!D%N'9SHX)S7`_D&/JH'9>`@;H`^G1VT(0"\0=\.]? M,_CP=134,5S%FT1E2M<&ABY]E]!9+0KLL@`I1KBOZ">XL:\(1R+Y7`I\([`$ MH[\XM/9GU"Z!>&N3E^^+]B(=M:`@26%\%&OR0<*@3W@ MO?GBQ4/>FPF\^O]>]N7;QX92:?K:N>OJ!%NN;XEXSQ=U)[QC-%/1*PT[$ M@H;;WC+XULNN__D$OQ2(FXR)F,VK+,81+7J3O&;']`/1X_7/RP\D&B>4S5R> M7;.#Q^-M4??RH=L:;'GU#I'Y,F?JG2&<+.AG_R2>O'[&^\T5OR+5G)#\<\X6 M(P!;G>9*WK4\C77\M9R>E!6C\-RG8;U>S?+S4N8)T\19+GEAX>HBO:R[%/5[(W]KB MYYX[;0A)"42>]?->,^\KL#C16--9E5^<;?GV]M[Y#B3,U$YPD@ MBC?NVGJ+M1U+=OC^RS:E(E*G2FK(;\I9T/'*'#[X5/QG0>,(^-_40S#]9:.) M5NHT!,N3,LD,,N!T.)Q1EK,F\"%&/-X-V`9<]N*N;MKSULM^_@5.;<^Q8>9] MCW'=K[P+88PXGGSC\7?-\??\XJR8YL?]?@49@"6+S.WA\UNWK?VE4DOP/JNG MKTJ\=$Y)>O*?*,6R[!#4XR:2;EW2UD5JA%#X4VS687+J30GD.4M>S4=*D[6' M(=H6IM79AB^LW#)^>1;P;O*MR_2;,QA_(?>=778T=Y9]>%<^#''W/J17 MMCTX!,)-`87S\CS[_$JB!,O>BF_AEL7BY"W[J!O_7\[V.B_!_R#KYTUVD0_O MO\LG^(OGAP='7W7;$W'DYKLG7Z5QI\6?>O5%"F;.]X7O;FX?;>YM!]=(:BYW M3O@K.7_SS3SV!K>WMH]V]FY]"7T!5C?_'V4*AC>K+&!A4J4I6[>\2S-UG_SL M(\F9$[*FG+7/:,[)+UGF=O8.#N=X(7V9-YC/6@O!"U)O3;EK?Y/&SB4_^EA2 M=[CI%-S>3K!)K1.:;^I+E;E-$+J=W;O?9SE1RZ^>;UOG,.9\BW'/N":'L5]6 M>?9I4A;CZ:NB)NMKA78OC'HB0]3@!C-GUEU#2BR:>H%Q4#1V,>`YR$;%T%>: ME]P$T134L$M-<88NH!JAP^"T\Q^[^UWW=O[OA.Z>#`$EWK]"W/K%C8&*'L,O ML9G`FS?4H;< M^"C"\;_*I]C=YEB>1:G%S@D17]E.\#7SX;O_GT!ZY\6.9;T-XZ!5B4TF9G7+ M8[4)$2`D"$=WRY-.3SV[0=*O=L>\'R$/_$!Z_%MB^+%6^ENF>)F9 M8O[F:Z)Z_=6)63\?(;?7RQMP2T^RR8K96?ZFIM@S%,GCO5D.G2?`%3VTEGQ' M]XL^!YR`@H"N,HHK?=^ZE'O__JSH7Q:MO09ITH?:FV]YTZ^;-XV_\&Z< M8VSHW0"/@?O*&;[WR@G"V@'T6U;VH3/8AP^\$2N?TEYT`58XQ[W@JR23WL]7 M(.G]T#*Y+EGPQ45S+=+B7RRF.WLO7JQ*GORA974M$N?W$-35SZ1_H9A2:OU@ M@=1Z;!$\;L&JLR1%)H%C>9C=?#\NQ\2'^W_;F6&J;XY/]\>'?R?]X>_WK\\^M7_WSWYOC\],WI^7^]?_?A_*=W M;T[?0;.?V6@L1>)([>;.)^] MZE4\DK\0'^&$P@"K6%9-2:MCG)'SQ7-,SK)C%4`%;%[^Y-792=C=8-#9WCK8 M_PXS[9`.9^I)876J-.N`0?*F2X$DS!`;=!_>.81^0--+::DL'=*=3YBCS^CV MI``*XW""0!:`%-K`!580);)^%?]639EDW7))#CK_L0-X!<0L<$>E6U)2;5M* M>S\LQI^^'Y3EU(E6_L;]H_,9?T6TV<@BVL_[&_Q;4`@_;AA]\?FB&FZ5U<=G M3NOOD;Z`#V[@X#*\>UHP*M)JEI4,>EF!4/T_I]-\],>N_'((U]R/&V^5.PV2 M9AZEL]%Y%CQ"WB!XCMLF=X9Z>32F?/:/]L'G?UL9S'UG-'1/&']TJS;>_.UL MHU/TYWG6WQ\UT0UI)C\5&`S2=Q@(M$2MEN&5D[>0(QK)X-#T;4J-MZ2]EDE1 M<8>^B,`=>PQMZ^1Z1E3S:`_7;CZ5PP MG0W]R\93WYG.G"P:!#X?_XD9'X':7'^`Z5^YXPQ_?>(G2HW!I!L"S/+IEID3 MI.RP:5F&T2QH<0TH)5Q5I)DC2L5PB^[>!=_NA/<@6GQZ(5KQ;G,K@DD'?,$C MIJT*%I9['ANF/.00W;#?W'BZ];=GP=E,'MCC*M0-6=63X^=^O.,$\B>>#=QB M;IJ32$^HRM%M"H2?6LZE$!Y0VWB=]QCZQCWM[\>UZ7/&5H=9*(O&VO"`K4&0 MA?8H,$9RU9T71YL'>]TYS]_=YV![:]M=STQW'1V(F;OZAQT+]0RZ;787.G#N M`#RSU(Z4$L'VNP)C<*]?]:GG#[;0G`\O@[$^G"]A3FMY%'^B$T!0W2%R2HZU MR"L(_>9>RW>I$R-XB_J;N^X%U%1LSM#Y#Z@JG\+;["`3$M@8#-?I9P"B-*"= MU%*?7YK6/M3PM>1^BG70VN':O[=?7WI9]PV_28*\5`3)]+I$*`-?6;AE:@5# M*U;&YT)&!KHE'&V[F=_4_PD6,K9!N8'.U]G_E)7I,PKDLM*'`=NUSMS_^GYK MY_!OV'?\\A6<;UB8QC#E;*HM+]RGHF9&YIS\[U&`H*/P!#B_9FL[5H<+V'=[ MD7:D7_XQO!BVZ=B'7A\[@X6NA%GMGDQ=&*$@`GG:G93\N+&M:[7S16OU/+56 MSY>^5L\?;:WN=NS_&67R81+U(2\6+I$O%B88EXE-4Z2*W6P=)7 MZV`U5^LP6BVZK"CJ[]YO]^O*S<9C+ M.;X]YSW6MGL>^2[NKG-?1?QU&ULM=3&:3H=Z0T+'9^JXNA*77=MFA,KO#C%8 M0,*.4N?Q:.GG\:A=\3?>_<'=@)WMU"+M;"]]E60**[),.\EEVEG^,NVLU#+% M&1;^[?*7:7>EEBD9J-A9?J1BISU4L8QE2L8H=I8?I-BYQ6-;PC(E_;:=Y3MN M.[>X.$M8IJ0SL[-\;V:GW9U9QC(EO9B=Y;LQ.^U^S#*6*79?^+?+7Z;#E5JF MI`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`,7;.^A/6(P_OJ\*X$U+KV/P[+NYQQ=X'@UQQT[0-O@=N(.,?/['_WV>SAX; MT,]CXW]?%X]5X("[AZQ$E(7WENU%CE2LHQ=X+)`G/NZA>BB._T4F@*S#<&[@ ML#S?VM]VIV8@;4HS;$+=!Y)U9#3T?92A/SN0&A(1.WX_[)8I1ZF?]ZH\`V;? M`;+I^Y.'APRH#V<7=?ZO&8@_<[L30WY=?*9?`)&BFP@VRZ9'N;/<>-)6Y\E9 M3K3$TIQ@XU7NSONP[AQ?E#/JHXN?[6#733>ES>8P&Q$OLFEI,&`Z8^A.-7>%TME0S@6DY7$<&6X1](WEJ?]JWIU(,UG?K6 M6.JOW5BJ]:)M/_H/J5EV'[N]U+?^%NO5W^)KR?'N[4TNOO)]^`;=,. M7FP>;B_6L>Q;:[2';HT&S/_0:1>T".BV\[]T5[:%K0>C=?>^K-M8$@7Q M?/DHB.?M*(C;C*HUZ"]TGS?;O7_GEY5_M[TYW^T+!3V)8WF^?!S+\\6[$*Z+ MH-_CS=9&T.^S:X\CZ.D&DLM'(CU?O(7DN@CZ/=YL;03]/KOV.(*>Q)(]7SZ6 M[/GBC1'71=#O\69?(.B+"$,2,?=\^8BYY_?HB;@FPG"?;H^/(PQ)7.#SY>," MG]^CY>.:",-]FED^CC`DT8_/EX]^?-Z.?EQW8;C'FSV2,"0QGL^7C_%\WH[Q M7'=AN,>;/8XP[">!K/O+Q['NM\-8UUP8[O-FCR0,R:JY_>57S>VW5\VMNS#< MX\T>21B24?']Y4?%]__71L7O\V:/)`S)R/'^\B/'^X\;7UUDR9(QR/WEQR#W M'S=2M\B2):-9^\N/9NVO;,QG/QGSV5]^S&=_92,C^\G(R/[R(R/[]XF,/$J8 M>3\9/]A??OQ@_S[Q@\=9LJ27O;]\+WO_/E[VHRS9BZ0O^F+YONB+^_BBC[-D M28_MQ?(]MA?W\=@>9\F2?LV+Y?LU+U86-_(B:?V_6+[U_V)E$0@ODM;_B^5; M_R\>)Y<=(0W?N'^XW__M&4S:_?#_`U!+`P04````"`"[=7Q!A`.5G04#```` M$P``%0`<`&)R9C`L` M`00E#@``!#D!``#-6%MOVC`8?9^T_^!ESR$)[*)6L(I>F%"AJ=)N[9ZFQ/D` MKX[-;*=03?OOLT.2EJV!(*T`/"2!X^\V?7L<#%#,<9H`4P@+"!7$*'I`08!..6-`*3R@ M_A!="HY!2B[0^X9KOBB5NB3JI3^(DBGJ,Z4Y53@&='L3LMBV#0,E["X*)2`M MBLF.-5%J>N@XL]FL,8\$;7`Q=IJNVW(*H+5`'II_R0H\89J+X4>\*;"$G[4R MM'=P<.!D_Y9029X#ZK*>*40I>Q-*2]E,7^%$2HM&-G\RDP"?)XT#TY#_R3\V'WHOOY M[/2K/^A>]P?]ZV^7?G#=\P=]7RLVP@_5PQ0ZEB3)E$+QVT3`J&-%8O31;KI> MT_/<#XVYC-_^+V9GT6\<4IQ2W9RS@:9=$@1S!2R&N)!D>KYE8X@RE*[^>"UD MHZ*Z/ET0(,.`2@I4<*!?-BIY4$Z$'IE02?5[,0"T%93CI>[KZU!QL1Q(WOML ML$K`C3&_=X1P3$3ZF$5ENY[=\K*PA/A^`:H0Y>M9VY42E"QJTC`"VK$J,,[+ M*ELK:Z6F)P.G*Y;EA0(7E?3I/Z-F>:+G"$>F29)5LXF"I&@_$CRI]"?GY,\K MY2(&H1=(UZR0,R#CB=)7+^[J,&1ZC32K;0]6>%L-VXG#J^VM%KLCDT^)5()$ M:>8-BZ]`W!,,7C/R5II>O]D>AE!??!Y*<\NA^&H"8NVB4HG:0\LKM>8.M[;L M\`E/IISI:>C5\[H&?B>NKU%OK*\A?4=K3ZFLN6$(U?B]#Z%:^H[6FE)9:\,0 MJO%['T*U]!TM1T]W)%]2)BW3.7;(WWQ!U!+`P04````"`"[=7Q!6@2M.4Q*``!,?`<` M%0`<`&)R9C`L``00E M#@``!#D!``#M?6MSXSB2[?<;28;I*$K&/[Z:Y@=A/HRB5__Y__[O__G;7PX._OOD M^J(W2H?3"4F*WC`C84%&O;N7WO5U[RQ-$A+'Y*77F^:T>8\9G\;I=-0[(_=1 M$A6TB]Y%E'R["W/2^SM)2!86:?;ZX(!]>DS_\$/,_TI1)?D/SW=9/"I^?/50 M%(\_'!ZR?[Y.L_%A_\V;=X?5'U]Q4]:TMOS^_?OK[T>E;?#ITZ?#\J^U:1Z) M#.F'!H?__?7B9OA`)N%!E.1%F`S)K-52BT4@1X<<-/_\%A*I>1[]D)>]7:3# ML"B_`6VSGM2"_>N`FQVP7QT$_8.CX/5S/GI%'W&O5SWD+(W)-;GOE0_EA^+E MD?SX*H\FCS/[N(2/W/[ZZR^X_T(\)^D'PYCW[D+^>S;YY_M\P&7U.BJAX M.4_NTVQ2NO"JQS[_E^OS)5_NXG#X+4N'WUX/T\DALS@T^[##C0*_CO)OUZ28 M9LG-=#()LY=?DCB\(S$9G5POQY?'?/Y_]8W!Q?'M^<7[[V]7@ M^O;+X.)\T-FS-7O;C.ML.(^F,;EY"#/RD,8CDGTA)-^DO^MTL5DGCY-D&L9? MILEH\,BR"TU#GY\?29)OQ^%UN]NL\[.N/S^'K-5M%B;Y8YIO=FAOI*]MNGV9 M7I,1F3RR[&'S$:S1[S9"X#8MPKC*/29#\23,3FGP%BM&P,J];=AU.H\)QP), MVQT(F^IV6U1W1HHPBBTQW2J=;:YW3E/HVO7$Z`9G+SCH]A7@H/<3'\&+NPW_=AS'_U[N+W#LH_J/;"=B"3]Y+D@R(B/N M`>MF,XO8LUZB@GW@F_)_O8,>;[/X(VW?JSZ@M_@)I0/9!F@D? M?/GX96G^2(;%-+\-[^9?8TD( M/[X2&1Q:0#5/P\=W>9&%PZ(-3&2SC&W^I1]GRRCI:.(?.!M8AB.O:G.?I1,I MAED_J?CII1E]+_SQ54#MRE#X@1$/&?WXJLBF9/[+-"GHN)PQ#XTQ,F8_U"/_ M4#"HYS%QGCR0+"JWL7IT,+'--]([+\@D_Z'7R[(?VJ@Q5NR-RI6QC4A4@:,_ M--'17_V3/Z%;^K$-8.T_6\9T10=D2K_W$9U0J<`U["RAK(;3-1E'["M+BLMP M(@(I-K.*\90^HRR,SVD0/O],7J0@6W:64![3+W'$OL@O<3@6H&O\W3:J,Y(/ ML^AQ,>6(P"V96<)(7TW9Z8N;E\E=&@O`-?YN.7Y/V9D/^C@TX;ML9AGCY_M[ MRK31$]&`;-C9F,_,IP$";(*_;W,>TYCA=YK1M'ED/I_Q`7.#7F;@^[#!BVEG MAOW(!^PM-IJ!?PL;?(.L9J#?>0)ZB<1FV-_#QM[@N!GH#[!!B[EOAOVC']@; ME#@#_PDN>`%GUR^M2IK/-A;4'_JOCYRA7S#NE+;899,(5 M_D:H29YU,TE(\3?G@)K`.ROCOO>UC/N\AY&U\Y+]YI_GR1/)J?'QW?`\R>E@F+*G$,;59M_7)1:;`>K0;JM$V]HR6TP` M'09$,R/PAVSI)7"3;G3X:IIOB3BO@)W]8,XKU*A(5H[89$B^DI`=1!#D884= MX!F$`G7'P,)Y@]O(V>@8M851.%%06MK`>7Q?D.PV?";Y(#ECRWK174D]^7$R MN@ECR72B2T.G7G1&[WX6I!W@TEP&:1)DZH7Q,+*T0KY=IQK.'.%$;A?H".H" MT049AW&U[R%YF6Y9`)Z^"?%V#"2\%E[3&[Y6(MT.6?YSYM;S+DI3Y@% M'S^\D2_]3MM32MM@/43;9@O]!P;]!UOLOV_0?W]+_1]]>/_NG:;_)1NW:QF:P)[E\7;4 M0%E@,L`OB3LHJTE=/?C8G*)N^]3EYCT(&AYL^^CEYCWH-SS8]CG,S7JPE'^: MIS%7>M&Q=<<1)V707VIV_K8D#?5]NRV)40?FWJ4AMI](>7A=!:TVL8%LO MZDRW%%C;PBJNJRQBP^Z6ALD)_>AO"H!M4ZM(;PA-,2-#K")C&VAGJDG2;[OY M=XN8+L.,:7\]$<7S4YA:6\:8J[:=AJ)+H@H[!QA+CE0\48VYE0AJBKY)GZO< MTLI)%KE,G>XI=VAJ,>*^I&F1I`7%H(TXD:E%I/EUF(S)X/[S\_"!_50.52UH M32N+^&TH5W6L/CG6HZ.CE!R4BZ`:HP=8&T8P*5MK&!_6N8?2-%J>_5X8&;M7+Q[$WRA$D; M%]CU>4/?`K#LDV`WU?E=!Q/<[^)*$^HU?^-*$ROU@+\0).^P*MW0+03JDV"SF#L#F7[.-8^X+;%*6 M["ES\+`96;G1S%WP@I(5&\_<#R]86KP;S5V`3=1=]J2Y1[#9N]N^-/<)-IL; M;U!S=V"SN_E&-7_'\X+<%1O7W`\O.%ZZE: M;-ES3V"SKF87GSL!FW15>_O<`]BTV]K\Y[!AP*5=^ MB(#CA\V_VN0)FX`5&]_<`=@<;'($@>^SP69DL^,(W!=O.%EZ.(%[`IN8]8<5 MN!_&8?(LE9[TK M.8MQL@\;].OP,I9V!5#:U75I7RPM"PV_NC"K\]6>M0NS^E=:MEF8U;O2LJT" MQ5A:=KNE97'R!>TEI?%-R.ML2@VW&3"B8K(:Q)`KRDJ@8\3Y,;:MH#Q-X^DD MN0PG@@RA,+4C]OT<3::3T^ED&IHA%E*+8CO[29K7=MC4^T4CJHUOFC M>9?U/?]%VR6EL76T&GQV$"V([NJ>GL+4,E(E-JOQ=CP\]13`F=;[\:.]%Q9@BA?L:&'*L&&82"&IT< MZCI/A%!OHY.#9A-&"!4Y-N+6TC!T*ENVZC#L.FN$4,_#S%?E=!)"28\5W(!1 MS,,,N&)""J*"1V,K MWWC_&676,(KP]B#*J4&64]OQ\-G+.Q\HFX;Q@*>O41X-PFT?1;G1%6/J:#FF MJ@YZK(=>W46/]P$VPH#=NT7A-`^%T_8NMIR/8JA+"BBIAI)J"X?O]T12;>_R M'\RY!8JM>2BVAK&#"ZDHPX8R;.IL!FDBA#)L.RW#AH0$8C*'`FT>"+3M7:SL MY38>2KCJ)O7HFX80?MYX`#EWE#N;:W^4>X-&GZ4>X/F`HU,DL;.!HB$)^G>!#K=Y2]M^#+*;:!+%87:9 M)ET]T;6U,M+9-6,^<%7`I88V4)ZFD\1NFN4E MHZBPFK2Q@?V2%":/5F+F3D#"=`:NG(HXWV[LX(A\H@)!E\S4"_-I"P1QLE6\ MTDUA(&B2&0>/C+,@*)"9.F$P[8&@0-;9'?E<"(+(6&=WY!,D"&)CINX8SI@@ MR)"9NJ3`[U:!S-0!DZD6"&DR4X0Q)K=9F.1E/805P^OM'_,._@0;7,"N5*+VEH?:6_L45LX',-1E"93=0MFMA4/0>R*[M4^I M#^:,`A6W/%3>F5%=RUMU+0R>O3M(@,):**RU5O\HK`4-/PIK0?,` MA;7<>N"OL!;.R$"_SBQ_/7))(9F=;34M-5[(4EIBY!B"%D-PLX/=!L:3E]]( MF*GTLW3V]C$S!&\"'5)NY0C?D1&^UD3-&KYW1OA:DQA;^-AM;CT^MW>^C:A" M%S[.E\!7AVWQ3@GF!;)]F-W@.'^4! M,+3PP"HJ`WBK#+!/,;67)XI0%`"#!+?Q6_A0#P#F`;/+])J,R.21=;-VH+U3 M!MI_]"[3WKPW/^(.V*EPE`KP7BI@;R/.^=B&NGJ!*@*H(K#O*@)[FQ5ASD-0 M8,![@0&,*%S*1>T!U!Y`[0$P)\=1>P!I"OC$#V4)O),EV-L(VLO]150L6(I> M5"Q`/H>1C6#R.8H9[(B8`<;5?A^0\/Z>/>HLN-590)T#:/C5-]2=KU:MK=3@ MG\Y!4ZG!.YV#EE(#ZARXT#G`R9H_+T'R;\[TAKBXC5MI!)4?_L@DB+S`:(81 MS7;BQC;VKHH+ZK9N?3%38A"U`(!;J]`@:@$`MU:Y0=3"/6Z]HH.H!91[[09L MUR5LG6\C;-9!N&H0Z[L%4B5B?;=`JD>L[9:OJA)[.P'$*QLH.(%1!^JU:S\/ M,*,6!88;'B-#F0J,'WCQ@PV4%OUD//-*IZ_\-[^M^=WE-S_FH(ZJCACBA5[%ED.1_# M4)*$GL6:3LY58?*D8L12DJ1B`_(S^C,H3'RA`8/_MXP``5(%`! M8JW^40$"&GY4@(#F`2I`N/7`7P4(G)1!?ZGACZ#L4GY)76)F6\]!B1:RA(,0 M.$:@W0C`2 M:(.T+1S@>J_%]=X)K@]:7!^$`ER;?5Q8.<&GR?67A`)$`ER;?5Q;V<8FTQ-H6#G!I\WW@)-\'VGP?.,GW@3;?!T[R?:#-]X&3?!]H M\WW@)-\'VGP?.,GW@3;?!T[R?:#-]X&3?!]H\WW@)-_WM?F^[U0KTF0E7;C0 MZ/QPX"K@VSJ63@4?N^)OK$Y"$'?LZD*U?@E!OW$%Y(&UC>--(^^W-XP]03X7 M,6WQ'7#D;VOD+48$CGRNL-KB3.#(W\^)R2M:K99K.72O2+5:T>70O>+3:M&7 M0_>*1ZMU80[=*R*MEHXY=*^8M%I=YM"]HM)J`9I#]XI+JS5J#MTK,JV6L3ET MK]BT6NGFKTE>L6FU&,ZA>\6FU7HYA^X5FU9+ZARZ9VRZ(+_?]XQ-@X7R%9ZQ M:3!GT[YG;!K,V;3O&9L&\:FP9Q-^YZQ:3!GTR//V#28L^F19VP:S-GT MR#,V#>9L>N09F_;G;'ID?%?8C5#YGAV,1UE7K%J#T87BAUB=QN?J-'L65GLI M3855:#!.4`P&J\V`%BM[(EDX%H39VD6>/C0"K>I(''!>E'@"IC"*)6A:^#TH M08/AYGY@0UW`6$<""^O28%T:G('XFA+]G('LC\:Y\6(2SB@@SBAV_=KLRV!+J]$TEO M"71O^\#C]@6ZO1-);PG5^R62+I(8]T$D7;6]NIY$.KX2>3%[`_5*M,^5N"&7 MAL)PPA.JSLMS;ZBPM674+HN*RY:AZ4=?G=-D\*Q8AF[9;*[_$YI3X_`E_R4_ M'H\S,@X+IH)#S*R6 M!/,VZ42+E2U)YVW2!S&9MY3T8-<8Q+=['Q?+EKZVZBG*2[(IC;<9;:(BA`;( M(9K+#E?H$3G'QNB[JC6'(P0JYG;S/ MYH5:$G15,0P>D)=%=NFP_I8DE*#KD&%DX?37]D'W]8?7ZOZJ#W1]W%G\:Z@#N]%^C\?1#4 M<7K/=1 MUE9Y=2XFLK;*JW,YD;557IW+AZRMD;J>QNBV)1)P2N;'"\W\^Y'?]!;9V%8^ MD..$+'C01HTQ9S/F-C.ZMXVM>HCEL+VEW_L)_?QO*IQB>W?7++6QJ8,.^Z+7 M7H85'CG$2Y086WA`"J^E*$[I`+U?XQRMMY".;,97V=A$!72 MIZN0>QYBS@9+3$5$>?@_CDIK$5S(ZM-NIVYL> MN-'AJ^GX2HLS#2AIT,^9QO[<<(!X+77/0V8OUXKPLH-^J0HO.R!C[RMCH["$ M3%@"XAU%#"'<0MT%=88]4L;`FL(K8\2:PEA3V!@'UA1VODRY:;$5YW=^L*8P MUA0&XQ'6%`;C!]84AN3#-FL*XT(9M+=\F`ME*!`"42`$`PF/?:)6A_=:':ZU M6E`K!!I^M=*&\W6#M94VG"\2K*VTX7R98&W%&>?+`KNN%8*S,]]>;O'XBX2A*QJJO MM#:Q@6QP]R_Z+*(G(@76MK"*ZRJ+)F'VHI"I49A:17I#:(X>&6(5&=M`^_GY MD4[]Y-]V\^\6,5V&61:R9Z-X?@I3:PM"#VE,"?L+(?EI^%@L+&/L>@A?=TD649& M*XTYL\8`O%&.-W4C-Z-MD%R3J+P^2$9GT5,THB\7[#C+TO$6O6MK?**5^2`9 MD4G)"33OLK[GOQ#,#%7&UM%J\-F:,=`4DHR)P=-3F%I&JL1F-=Z.A\-TFA2S M1W*GL-Z$#(BC3`!_"*A<,FEA%WN^.7-[$*O*C[LCE3:SD15.\ M3E$>#W^?1O3MXR7I#!YM!(S&$^7[0T,[F])-HF24#QY6NE#K.R`I%EQG\91>CO- MDI2BD:[VRBV=X%0L_*ILG6"]%F\NBE7TF*EBBZI)A+'$P;+P`/M)UCTBX^"VRP<57,A.O><1#D[E"7_-C2MK,8` M>.:$;B99"S%K9Q$__&X<5*0_NZ9MA1H;3C*W=JU:; M.C6V_J9P2;ZS(7$2EMLLG_,BFE#RT;TV2%LY?H?0N]&IL=7WB<7G^U-(4159 MF&9T8A5F+S5$0I+S9!A/%\Y."5X[NG^4W2R0%_3YCF[3:W(?DV%Q2N.`*+*Q MHH5-W)=I<9K2?N,9%!;*9U-RFS;'E-R1#A]AE5?"R6.L/=[1-+./\.3E-Q+* M7TR4QO;1=CB:HFCAZBE+E_^5QO;1LN[?!#J8W,H1OB,C?*U+%-;PO3/"U[I@ M8`L?NQ.MQS>_.6TURM/Y[O`*$:]I[=:?3IE`T="M%V890M0"`&YMYA"U`(!; MFU%$+=SCUF<:40O[N#LLV"E:V,=]&JM+#Z;;,.3;YIF9TMC":92&9G M"Z,^ZXBM;.&[2'/R-4W(BQC8PI^MC;PT&;%=RCRZC\CHI@B+J6!90VYI"V?Y M6+Z&V3=2L*43,<26D;VG6)PG[$+AZ(P\TL%%/_5EH;:)[(%J&EF+&MF\?^F/ MUM`HCODU_VX+DQB)G?Y/Z/O50Y@53-1MKCU6W@Z6DIA)&\NJTB84IS&WC'BA MGM%Y'$_S7^"_W*(_KIY,N4!I?ZR2M:V5VDX4@P?/4MK.QP)\DTC*OT+YV%"8VLHU/,RF1VMC&>TU`N'X]8 MVD%A:AMI\.F38/VQ;>$`EV#]O&WA`%=?BZLEKF8%EV#=OFWA`-=;+:Z6$)H5 M7(+]@K:%`USOM;A:4N96<'W0XFI)DUO!]5&+JZ4V;@77)RVNEH+X]G'UW[S1 MY/O*P@$N3;ZO+!S@TN3[RL(!+DV^KRP!DWP?:/-]X"3?!]I\'SC) M]X$VWP=.\GV@S?>!DWP?:/-]X"3?!]I\'SC)]X$VWP=.\GV@S?>!DWS?U^;[ MOJ5\SU M$;7U\P7J8U=0SEJ5G;.=;8.-<,-F+CQ8.+IS6BH;"&91)FUL8"][O$S/R&@Z M+,5.TU(TF]\'+LLPM]&;M7+Q[']A-\JK7/R%Z2_0]QBQI(UA.Q<^E.R%OZ<*/05+56!K<\Y+>-P_I=T&N-&[HPHL%60R.IAPH`D&0 M#DV=C*MN1UFE;5Q@K]_TJ]=.\3E5_I*V\KNMG5Z=/K\.W[VKU94F#OTJB[Z% ME96U)\H;8V)V.$YAZPJKZJB2*TYY??(A*/I*E7V\`I M:D42-FGC$KODJHC&W"5B<[#.<-)WAL^_3Z.G,*8S2W/0HF8V/+A]B++B11N# M$C,'"!7Q)K>TCU,26T(C^^ATP"QC,HD9I?$RV@V7J2Z+4Q],9I6EJ]:&A7;E M-4@ME9I?`WO6+E)JJ;K\>J`%)4PMU91?#W>[PJFE0O(;@MVN>VJIC/R&\-\( M:J$VR\B#]*!9+'4&NG6<"R)HT7+E#'_KV! MOT$YT+'H*G<*-ML:UE_ESL!FX15+KW+G8%-UI_JKW"78-&Y4C)6[`IO1UR^^ MROV$S?O*BJS\H/?% MXAP<.&PJ%U:0Y=!A$[6\LBS'#YN5E>5FN0O0V5A6AI;CA\VRYN5HN3^P*;=+ M45KN$6P^-JA1RQV!S7^P*;U,UJ^G)?8+-XI\*^W"78Q&Y6Y)?[`IOB.U7ZY6=?O"#^50K\<@?] MF!C("_YR/_R8&'2H]\L=\V*6T"P%S,%[,4$0UP?F+G@R%Y#6"^9^>#$/$!<1 MYBYX0?^-`L,<.VR>%Q*%G/L7G"S8>%B[I,7/*VO M8,S=\8F=116-N1\^$;6HPC'WPRNV%E0\YG[XQ-:B"LC<#Y\H6[%^^MXG^FZK M,7`O8!-YJX@ROPD!F\-5I96Y!["97%=LF7L!F[N7*C)SR+#Y65:KF:.'S;+9= MJC7-(<.FUV8U:HX:/IW.L<+F49,ZUMP3V)RJ*6W-G8!-K2M6M>;.P>9>>;5K MCA\V#>NK7W,_8-.QNB(V]P$V+QL6Q^:7TF$SLUFA;.X+;,IN5=+FL&%SMJJ^ M-O?`#R:7U]OF?L#F<:'0*(<.F[UEHJ,O@<.FUW8!\AHX;%9M5RBO@?M#HU4) M\QJX/R1:U3BO@?O#GU41]!JX/[Q954FO@?M#G%49]1JX/\Q9U5FOA;K\8TKX'[Q)S!`G,"5^]J`%]@ M3N#:70W@"\P)7+2K`7R!.8%+=36`+S`G<(VN!O`%Y@0NQK4,O+_`G,`UM_@V MB^+X7@!<;8N[(#W#%P!7V3JI*]ZS6H=2#5W"\ M3(M2;)F,SI-YK8H%KV!3<[,V_:SH78T>-C_S[Z3IQ=)>60!^.9)@TW=]6$+H2V,\P29TM2L+;L"F]XOTNWY0^4'O0E>6QQ1P=2ZE)PM> MP*9PW;G:`+@T5Q,_.V`D/UT4`!?G:GJS<'[SM!2%6I@;`E?I*D%?IF=D-!TR M2'1RR`10N&+*;?A,%K\7V'3>_%Y^87H\%9=\85)6]&5Q.77!9O96=7IV(B\F M3V%2W*;TF^%Z?0L.P>;WID.#A)1O(H/[XWN:E:E+-P_I]\6L#)OHF_XL2(]Q MA\KAERUX!)OW6T-.?I0U`*[.U72E7FRIWOC%MR3XNW'G)0#@2E[2AR'Z7OV: M2LA7H("+=PD*BC?/*@?`);Q$+@C*X0%7\1)XT7A;`R[?)7"@H3`3`%?ODGFP ML.$&7,-+XL'B?CYP)2^!!S=128^S<_QS3X#K>@D\$5]&"("+?`E*W2^7D*_] M@,W94C\$9`%2P])W58J!OG=.,S/T\(T48Q71V$7Z.R\(X^G/UX/3G[\>7Q[_ M_?/9/P87Q[?G%^>WOUT-KF^_#"[.!_5#B0K6ZQOZO^!3C_G#.Z#_8'T<5IWT MJEYZK)O>'[RC/ZE1W5EOUEMOWEUOWM_2@*!ORTN/@OX[+-+ZRWS(R/WR.,C) M\/4X?3HB0'9QD/QRP'P[>!`='P>OG?/17^JM_GJ7#*4.VL+#"?W7\'.6\ M@YB]9/WXRJC%H5WD9^7H5@#E!EL-,3ZJ#T;5J%X.LPY/F@6="#T/-`PS'\/L M@HS#^'-"O7J1A%7+PE(855U*@VCYSXY#2/(4><@L8YT%3!\#!F+`9%DU*K.L M.2B7UXV_DI#Y(`@:A=V&0J7\!O@9_%UA/'E7WS51TC+ MDN?E-IHDPJ26-F)LWJ]/^H.S8.M-^NX-^O9:NR56Z*JD)L96'Z?VMJ;X&9C\8&/ M[H,Z*A71N/2LFZ]84OQ=W[G*6.Y]+==9MDQO&'7@QC?4E0XC7'?9_8>R[R!X M\[[LF?WFGTM#Y.O2`N*L?[F9)29>>BA;6V[QP`WY-]'Q51@G%X#3',S)A<77 M>5#3"`7JKNM/.'D`&U5[N1RU'9S\L#7)!\E9E!=9=%=656!%ALOK)<))1I>& M3KWHC-[]9&EC*X%.YTJF7A@/HV;Z]M*IAC.F:[4X`?26JJ"N+JV]`0IJVB?$ MVW5#!"=\@%>+=G+#?JV5H#?EUM?'#V\4RT`M&[>+)ZN<%W!WRESVY<[7=EJ/ MM^,"-?(ZX(P$D]?OQPRH>+@F(S(I$>A2=)>V#D9,.D>SPNC1M';K3Z=1I6CHUHMN MXTO5TKX?'28"BA;V<;=%+-6HV_96MN;2K+A/XRB]I6_WZ1.1TY3IF M=S([FQA-H":<<$*FUC`_M"G9H.#]RL ME8MG;Y(G3-JXP*[/&_H6@/4]!;O`SL]"F^!N;Q);NK.U(=CMK>/F#1+8^$7; MRMJ/(#6S=;MCT]`P];-ENS83WS`;9RMGP?>P8?MGAV MA]ULSEZP9;45F]S<`=C\J]_TK@ND>^&'>@.\K@;K@R_-O?&ZI)U'X!L;YG5E M'H]<4)7D@\W6REWU6O/?(Q?4>^O<(]@,WFU_G?L$F]:--]KYNYT7I&ZPX<[] M\8+C%1OPW`\O.%ZZ)<^]@,WN\JUZCA\VP:LV\+D'L/F]MS8`$;'*7@GL!F9+-C%=P7;SA9>LB">P*;F/6'+K@?QB)-EFM4H=K" MJJ4P]JZ(!Y8KQZE![$718*A%33&&4-G3?509 M/-G=JW-Z,WP@HVE,&D=!S0,NET=JRAQ$NK%V*M4MQP@`JH<&<,&"54H^JE&+\X&JL M!7U5K$>*]4@AEN[$>J0XJ?.*E*"N`F'E49S$P5S5VU3 MC=&]SCTPN1JKB7I7312C"$\7K,/I6#<4)'Z?ZX9B2O*+V!O?D[Q4HM1PF^$D MJA6J00RY8*@$.L:CBWC<],BW@O(TC:>3Y#*<"/*'PM2.*O)S-)E.3J>3:5Q> M)2R7R"OAN<$3R0;W]S0XDO%51K_I-OJ.S4%X5#R(]F\,FUGT8`'`^>21I;U! MJ00:A\D`GA[K.$R$4)NCDH-F$$4+I@HVXM30,G2H[ MK3H,N\X:(10^,/-5.9V$4/M@!3=@5#TP`ZZ8D((H==#9"R`5#CI%NGA2"Z+" MP8I^`*EIL,HL_-24G48;)UJE]1#W(C$7>T''%5=SW67Z_NL,=[]";^@-W-0X4F#Q6: M,/)@C7&H"QVHW83:39YK-V&J\V"2@:I.'JHZ863A2B[J/:'>$^H]H=X33@1W MBZZ@KC:A$A1._*!%TE[N,J)&U%(4HT84\CNLK`23WU$]REOU*(PO/"V!NE*H M*^6%KA0F*]\G`ZWO3:Z\HS"UK3JE10U9=TH*'B,65L1N(S8L(54I4RF-[6A/ M).&X#"UV(E;3I40S#HWP4ZW.8M;?LQR&ZB212'V66:=/5$ MU];*2&?W&?G`50&7&MI`>9I.'M.$#MO`&*]!$ZO(^]V1RYM817[4';F\B94] MZN'OTR@C(\:2Y<7>9&2"WK"9'24F/5Q7V.BC^36,F)I$=DVBR=TTRTM&46$U M:6,#^R4I3!ZMQ,S=3773^;ER*N)\>;^#(_*)"@0!)%,OS*C#X0T8=W/=S+)NR# M:@^&'9ZT13T?C",\NX9*/SXK_A!^S:%8K\>"CR@T$'9GA#72Q!?1_4]_%S'.RI!4K[>"CM M@T&%*[VHZH.J/JCJ@ZH^./W;!::"NK*$@CXXW0,41'NYPXA:/DL!C%H^R.I@ M$A),5D<9'V]E?#"T\!0$*OB@@@]T!1_,4QY/`9:_/+DZB71"$)5:%?P1#06)5^.]@"$6L")^% M;E,B`N9]$IS[X-%:O(>,@0?UI6,_#Z;A%62,.#P;@+>/,82@AA!NN;DA*KQX M7$;#97I-1F3RR+K9"-W3V[D(HEY M-&G$R[K>7=;%^,*].KS'B_=X<2[@;:Z".1?`*[X[V%8Y8<_EX=%7F"L^Q#K=J+*-O:N]Y#5;=WZ M8G8_6=0"`&[MO651"P"XM?>912WHA'AL5``5RUV=-KV!B3>%`1;VAC,$(.QKT\ M$(*7MS&Z`%#=WFRFXKUN6P>+J@KKMVD1QM>DF&9)]SKN)V%V2G\H1+'X7EC/ MO>RN-^NOMVK,]?Z']_R_.[T/Z/R5%-21HAVYOXUQ!VF$0UUT6>L@,I:5]L:- M'2XKC8D._`0#K[A[>,4=XPI7B/$J.UYEQZOL>)4=)X&[0U905YGPRCI.^F#% MT5[N1.+5]*48QJOIR.V00-4+:N5A0-!DWP?:/-] MX"3?!]I\'SC)]X$VWP=.\GV@S?>!DWP?:/-]X"3?!]I\'SC)]X$VWP=.\GV@ MS?>!DWS?U^;[OE-1.I-U=N%"H_/#.*N`;POF.566ZXJ_L3H)046NJPO5^B4$ MH;@5D`=M+3A/D/=KY"TV`XY\KI;8XCO@R-_6R%N,"!SY7,JQQ9G`D;^?$Y-7 MM%HMUW+H7I%JM:++H7O%I]6B+X?N%8]6Z\(,6FUNLRA>T6E MU0(TA^X5EU9KU!RZ5V1:+6-SZ%ZQ:;72S5^3O&+3:C&<0_>*3:OU<@[=*S:M MEM0Y=,_8=$'GN^\9FP8+.OF>L6DP9].^9VP:S-FT[QF;!G,V[7O&IL&<3?N> ML6DP9],CS]@TF+/ID6=L&LS9],@S-@WF;'KD&9OVYVQZ9'S[SHUN,1Z;1Z5& M+(^!L><\]E#DS+U.^#Z4P<"@VW>1&2QW@5&$P@U8UL+CLA9/)`O'@B#<<*V9 M#XTPK+H5AZ.7E6:`J1!BK0L?:UU@,$(?]E"75=:2.\0"&-ZXL14 M9'\$D8W7JW!J`2^X]G(!"U62]>MGJ)*,LP!(B0KF+`"ED]72R9"+)6#(P1K< MKG6+]VY;8%MZQ#XH*JOV-7`Q8>]S&JAIQ#Z7V(1<>P&###(B9Z+%Z/A(S;< M,!+V]$V`M.PVC*-^]"9@Q,9N7S*PJNYN5=.5E`C>]LVI]9V2<(\EC:P-X3=A M*DO:61OR2$ASED2T-N2"G!XM26IM*CC$S&I)76N33K18V9+.UB9]$)-Y2W8+ M=C$S?/??O86VI2^U>JKRZDY*XVW&HJC:F0%RR#7/%/`QF,$'\[;"QAK:"X;. M".K,TA'.WTB8">NJR$U=(A4IMLM-'2(5UE20FSI">A/1]%DK.!LA;C9QA%Q7 M/T_;PIUTB3FQRK.%\P-UZ_K!DPD$R?/U'7EG;6EGNXX$0'30UW*DF:$@R*.O MY9!88O^]X439U65TG`!K*`]OX*&P$0:D1P&YD_=6O!!>@2Y?A*&UF95;5&/9 M8+!MX-0R=,$CC+NUXFXO3TOZ*>#GGRX2GR5?1_FW*CC.2!%&\2])^9UM*#0_ M]M@Y[:HG^B/K[+#JK5=UU_NC[O#/E>7)=GK_TOE[**CK`YX+(&'4P1O?>[?. M8D=C")G0WYB$R81X94YV90Z@'@]&%;[M@;L;Y_*6&;@;?N#."^_^[1G)A1._ M;]'(;L_@!'!7J0KJ4LC^"#`"%%G"*,(=:V-,J+2(2HO(Z\CK**EH(JD(4!$) M8\OU*(9ZB,:UIJ-GRH/.%S36UGY<3SMQV]>W,5'MPB1@_NW)[YF*;&S?RI;C MA'P9NXT:(Q).1&YF[&\;6_50RT%]2T?%"?W\;RJ<8GMW5\"TD:N##ON:"08= M'CQR?O!H+R]X8>3A08A=/?8.].(7AAQN13DALAVJ6H\QA`N\`*)J`RNL'M[- MBG*V"D3YMAE]9V$1SA:!F_?,-PPF4H/!&- M)Z*1Z7U*33"9'N^\R^Z\0[P"A>$%82#[LN?KY[7Q/;JRCX5A5\:(A6&Q,*PQ M#BP,ZWP5=-,J$'Y+6F!A6)?XL3`L0!>P,"PT)[`P+"ZP[@*@] M@$$&93A#/:.*(@0H0@!)A``SUBY-"U"-8(?4"#`TO90E,#NOU%H7RA,K2*](31_CPRQBHQMH/W\_$BGC/)ON_EWBY@NPRP+V;-1/#^% MJ;47J(2I"*A MD94WDD?"9L?)>#9;EL]3Y99N<"KFJDIC.Z,Q"[(Y1,K>=$4KU.4Q\/?IQ%]>_@R348LIFC&,,%LV,SB MNI,2KBML]-'\&D;LK81.6:/)W33+2T91835I8P/[)2E,'JW$#,;397L#@_M; MDDVB)!1/GE;Z$"L[(&E6W*=QE-Y.LR2E:*2KO7)+)S@5"[\J6R=8K\6;2V(S MB]GL2YH625J07+^*+C*UF7?Y^E.U3F,`6-'")NYK]LX^N%]X>S?!KFYE$?]) M1L)OCVF4%&S7G+TWRWE/:.L$Z],Y+3AWB2%@]?P[R@G%=.Z$:BI1"S M5C;QT__&847*@WOZ9IB1X31C:_>JU:9.C:V_*5R2[VQ(G(3E-LOGO(@FE'QT MKPW25H[?(?1N=&IL]7UB\?G^%%)411:F&9U8A=E+#9&0Y#P9QM.%`:%A?+9E-RFS3$E M=Z3#1UCEE7#R&&N/=S3-[",\>?F-A/(7$Z6Q?;0=CJ8H6KAZRM+E?Z6Q?;2L M^S>!#B:WCT;EU?,PKI)[*5NEQ"MI81OW M4QC%LV_YZH&2DQISV]HAWE_)W4U4L`>9Z0:'JIEE#Z["O#A+R_T7^I5']-/) MERD-+O635[2RF>&UZ=QJ[N:=FB1NE:U-K+,O<;9Y6%[SNDC#D6#XZEM8V>%. MDFD85^E?.@L3&EE'IYB5R>QL8SRGH5P^'K&T@\+4-M+@TR?!^F/;P@$NP?IY MV\(!KKX65]\)+L&Z?=O"`:ZW6EPM76(KN`3[!6T+![C>:W&U)(.MX/J@Q=62 M`+:"ZZ,65TO5UPJN3UI<+:7>[>/JOWFCR?>5A0-5A0-\1DW9B:2Y9.SB<3,HK"@L0O5QD9$K9:?T6R*!4<6-C$ M9]KUO=RD_))F)<;+M"@%[$;7U\P7J8U=0SEJ5G;.=;8.-<,-F M+CQ8.+IS6BH;"&91)FUL8"][O$S/R&@Z+,5.TU(TF]\'+LN=MM&;M7+Q[']A M-\JK7/R%Z2_0]QBQI(UA.Q<^E.R%OZ<*/05+59AK< M\]*Y-P_I=T&N-&[HPHL%60R.IAPH`D&0#DV=C*MN1UFE;5Q@K]_TJ]=.\3E5 M_I*V\KNMG5Z=/K\.W[VKU94F#OTJB[Z%E96U)\H;8V)V.$YAZPJKZJB2*TYY??(A*/I*E7V\`I:D42-FGC$KODJHC&W"5B<[#.<-)W MAL^_3Z.G,*8S2W/0HF8V/+A]B++B11N#$C,'"!7Q)K>TCU,26T(C^^ATP"QC M,HD9I?$RV@V7MRZ+6A],EJJ%&Q;AE=<@M52:>PWL6;M(:;,:-TC0@A*F,]RM M`U2@<+M$UN@/&@62YV!;AWG@@A: MM%PYP]\Z]@4*OZRVZ@Q\ZVP8:/`+,R7.2ZW7;U`.="RZRIV"S;:&]5>Y,[!9 M>,72J]PYV%3=J?XJ=PDVC1L58^6NP&;T]8NO4'XXBJPW`4OZ'VQ.`<'#IO*A15D.7381"VO+,OQ MPV9E9;E9[@)T-I:5H>7X8;.L>3E:[@]LRNU2E)9[!)N/#6K47"]N&/Z%C9?*RKQ<@=@\[2^,B_W M`S9AFU7IY;YXP=?"VKW<`]B\W;UV+_<+-HN;U?'EOL`F=;.:OMP7V"S>J;`O M=PDVL9L5^>6^P*;X3I5^^=D7+XA_E0*_W$$_)@;R@K_<#S\F!AWJ_7+'O)@E M-$L!<_!>3!#$]8&Y"Y[,!:3U@KD?7LP#Q$6$N0M>T'^CP##'#IOGQ<6'.7;8 MO"XN3,R/?GI!X(VBQ1R[%]QL6+B8^^0%3^LK&'-W?&)G445C[H=/1"VJ<,S] M\(JM!16/N1\^L;6H`C+WPR?*5JR?OO>)OMMJ#-P+V$3>*J+,;T+`YG!5:67N M`6PFUQ5;YE[`YNZEBLP<,FQ^EM5JYNAAL[*LBC-'#YN+Q16>.7;8_-LH`LU! MPR9;>7%HCA\VR0HK1W/HL)G5J(PTO[<'FVV7:DUSR+#IM5F-FJ.&3Z=SK+!Y MU*2.-?<$-J=J2EMS)V!3ZXI5K;ESL+E77NV:XX=-P_KJU]P/V'2LKHC-?8#- MRX;%L?FE=-C,;%8HF_L"F[);E;0Y;-B%>J(W`'8_-RN[LUQP^;C=O5OCALV![>K@]<:*K#YMET^O`8. MFUS;]<5KX+#IM5V`O`8.FU7;%PP)S`U;L:P!>8$[AV5P/X`G,"%^UJ`%]@3N!2 M70W@"\P)7*.K`7R!.8&+<2T#[R\P)W#-+;[-HCB^%P!7V^(N2,_P!LUN$-81M=9-2MM&'M*FSVG;M:'O7@%1POTZ(46R:C\V1>JV+!*]C4W*Q- M/RMZ5Z.'S<_\.VEZL;17%@"7YI(YL>``;,X6U[%OCB38]%T?EA#ZTAA/L`E= M[\%-ITW MOY=?F!Y/Q25?F)05?5E<3EVPF;U5G9Z=R(O)4Y@4MRG]9KA>WX)#L/F]Z=`@ M(>6;R.#^^)YF9>K2S4/Z?3$KPR;ZIC\+TF/P>;]UI"3'V4-@*MS M-5VI%UNJ-W[Q+0G^;MQY"0"XDI?T88B^5[^F$O(5*.#B78*"XLVSR@%P"2^1 M"X)R>,!5O`1>--[6@,MW"1QH*,P$P-6[9!XL;+@!U_"2>+"XGP]\__[]^^N[.!Q^R^B+Y>MA.CDL?6>U&.A;YS0C#TYZ_'E\=__WSVC\'%\>WYQ?GM;U>#Z]LO M@XOSP:P>7EDC,J^?4%0P"&_H__J?>LPYWAO]!^OPL.JQ5W798WWV_N"]_DF- MZIY[LZY[\[Y[=>>]6>^]6?=+@X6^22\])OKOL$CK+_HA(_?+8R0GP]?C].EP M1*)#=JB2_7#`?CAX$QP98.IPSHPJ(+_]7QPV%%8=,0KC2VGI,-2T3[F]+=``/XN](XR]W8J]^LAJV6>Y;2>) M/JFEC?B;]RF+N[:%XWC3/%FN6]R"S2M1Z2)M]GOV?W=A3NAO_C]02P,$%``` M``@`NW5\0:A$*!,P*0``D($"`!4`'`!B3&I)M2_]^`9+=?.%%\N+1SB8? MK"8N<!'_^Z]-BCK[B)`WCZ)<7WJN=%PA'TW@61O>_O%BF+X-T&H8O M_NK_^[_]_!\O7_[C\.H,S>+I8I4MT&F4$,PON,?K'IR":O7Q)$>9A].4V M2#$BA8K2GY[2\)<7#UGV^-/V]K=OWUY]VWL5)_?;NSL[WO8_SL^NIP]X$;P, M(Y)/-,4O$+'_*[LL] M[]53.GM1%%$A_Q>KAR&IH<"^]AB%/P<'!=I[Z@O@,H9^3>(ZO\!VB M_WZ\.N5B'&Q3B^T(WU/6SH);/"=@-*.?LN='_,N+-%P\SO'JVD."[]AYS9.D MD17US0'UC?>&^N8O383MHI1S^NN,9-R`Q$\9CF9XM@*EV0J- M#.>4^3AA/D2>5XJGK^[CK]OD&79WO%WR[TOZ[\L=KZ3V+TGR!Y%O^HBGV3*] M"6XKE^3/\,N+3NKVNC34H%&>!*?Q,IFVL\C_X<$H.:&D;S$G6=*ZBJ.7'Z]? MH'#&R]RO+OSTQD3"C]G+>5U==TF\8'BM M!(NYWMC62_)5F'ZYPMDRB2:W:98$TZQ%$LM@*-5\,!BV&?G[]-IV<=$*X_QG MKD@7^W@H[S,<%L23/]K,DTM_')=-V`W)MD57,VDHW2P`&*(;.?NK7XC^M,$Q MZT$K=GG.U,WK!YR$\>PDFAV3AHA#<,MF+--,2%C*FQ`5]\5U1!(03;$I`Z87 MNGK@^EZ7,$ZB+,R>K_!]2(-,E%T$BS:=;).ALA`!PJB"B>!7OQ&]8$,+HD>O MI"!SMUXE'!$1)L'\E/0]GW[%STPI=&S&:8$#"2F&-H1?7D#Y%40NV=,#Y_'; M@A`X79C\/[EL$MM*&*H`)`<-\,VM__1/1WS;H9CYK13/7H]KI M/<;I-`D?Z;P`C^6&R6BR&8#`G-<1:M37+EM5`,,!#"%PG*Y+#S=)0&>WKI\7 MM_&\16`K;:@"F!`PU#>S]LN?J/AM@VSFLU8LPAP1"+ M(&P/(-J)8Y72!($51IEW+6+8E$#S2;N,=SVJ0O!M1V>AJE69@MJ9*"^?5#0&@YQXM;G+1X4;ME*-]]"J2B@M72?%`.N?AJ M4$+V5U9HLH4.M]`1"J(9:MBCXH97-C34QWN5LNPS^L3MELH@^ M%\96&@5];%)_Q\D,)[^\V*4;7+1RN]>'VZ\XN8U3?`9#\5Z/"ON=,;RW9GBO MR;">T0-.\GX(>=)S'*3+!#.ZDSRCP:,)(2C0J(*-X=>NHS+!8O=1[(G:@$/* M@"%U,/N,?#,XA>CH1W)1_$-,$C"Z"9[LQ!?9\XN4,:R?V5L;D[L,)[F#+J-C MNO(9WN;A+)U$L^M@SNF$*M\U>,FB7[&`5C$40?WO?$,4H?^Y[U[N\-LK[O)0[GC`<'PU\G=KZY8G8[D/79%JCX7:VI,&3#^X=GDZ->K MRZ-?T?GD8O*WDV/TV^79Y.;T[/3F=_3A\NKF_>79Z>5F$``US]O)M]>G%VO:^9#Q:-YD*:LZ5FNV?CM'FQ@Z(T?+10__XWR"S8G M9R5>8.T'X3.@12$5'+/+TTT>'$@X0$!-9SOWN@+L]()X#UP+#@+GCN@-'>4Q MY_6[M^^8O:%N\E!*>4`PE'9R]ZLK5GM#O,>NB-7G8DV](0:,[\I*:7]W0_5] M.OEJZOLP7%Y.S+>=[0@-(XO:$1I+TN@])].2-(?7C=:M^ M;(C/7Z]]_KI_[U/2W+QC#[Z[R6.9;@/!-C?KW/WJBA/-3?NQNS3#NUASW6<:"M4?OMG?Y[11-#.``%N9>NY^=<5^*\-X[!;-6ERLLY5I MPOA79>.R(8&N%R&@35$]7YU-41/G^^;'[#Z6ZF3=5*W.0^.NN(8H:CM5!_>?O/XBP<-O/=Y*'$\X!@>._D[J^O MV"6=]]@5YR(7ZZ7\0Q(N@N3Y!C]EAR3K+SSNNW:C1<"#!E9#!Z:2Q18J$]%G MFHSR=+L2X3F%H141)7I%`@]4E'*&)&]&V2?HCG9+SS'N/T*&`=G,PS M&K5AF@L*N&VZB^'7KB.:@,J40BYVWD$2NJ.UJ5I(@PF)Y%_MX846B2V08-A% MT**;%E17/I]S"Q=TP_8*5SY\;O1T8A\QC6W1?1GK.*&&;S:X^RH!!NJ[\E#\ M=0I:)3D0MPW^)"$OD6#T9@ZK%^8 M(FJ+&`*T&+1Z^ZYV=,(09G7VM-_'<1;%&8$7][19=B-[VGQHT)XV`V;=TUZG MN=+3YONDT],6,Z)3,^D5<3B^O#MYFC[0O_*F6"P?R2TCE:14(%!1B1']=93* MS>AA4"O#58_+";4I^:TC/&4N=6KPY"F@GX`5S@:U;4:JC`T)*JL6Q#I.E=>= MF"IBNZ&C$K[S#8P8C(T(06@)&:BTS":(@!B! M:BN/5%L.S"LH>$@X44.+IQ>Z',CC,Y4"J=#=D+I%7%>JLTVR MDD.YS;,RZ8;%J]YL"^Z"EZRQYIP/*A'J%CI\=K2EESI21:4V>P#UVNRM M190%.)K':1C=JVFL:PRC,%XA=.BK@]515VGAF+9X/N(I2\25GD-9XR2[B^=A M?+-,HO@KYLPB\\T&'\HJ`891$1?%7Z>@59+=>6.9/VK'LRIP848KO/@C,@33 MBZ:X(\!A:L9RN)&[12`<@YM6,S*:Q??/[.C221V\ZY`-`[3/L)6YO[I@-W!P MGKFVBY#O7:U<2Z>\1(9C%:![.DN`4^G"G6DJN5NZ>K$P!47?Z.2_5`OR.JVV M%VD;K]#:?W=6^-:LJ5!`L:1A@&[LR#B%W1E(>%.0\**YGI8)N,D8;>60TF0B$+5R8P1$YH2L+X M9,5AD!P]!$DVB6:U#P7G\[WL7H/*#4/%HEX8&.DHX/G$!N5&^9=9ZQ\'S^WL M]DK4'5;)K!^!NK\:+NW*2&P!OA^NNV,CAFI\;]Z=;HZ2?Y@?&;?0Z5E)6BHF MD>'8H*5;1@*<6I!R1T%ROW1CDD7MB%L[L*9-:SO&:+2<:)ZD;9&IAF>%)]S< MP#,:2[W.C0L*Q?Z*U!%\F=B+)7TF4K@W0$G' MX)0*#X\1=]96+HBJYZR*`F5:9'8>)%]P=AK-\)-J:%*[9:C4^A0(1FQ*B'YA MA7(SY$@@Z^.K2G5]^3,2WJ2#,Y4;H,*;[L&:`AXCO*VM7`AO*N.V?I09D9ED M'":J>XNO,^+BO=>C@Y#;-DF":M83`M0(Z,+(-"[1K MCP/2.23R)P=.AVR[@'LN),OYFOI73^%BN;@.YCBEDQ+W^'3Q&*=X=AE](,0^ M!"E.+[_BY/+N#B=$M!^2L,/VP#R&]\!&%%E%=,I?S1E6$K^\#>7WH>)&],-9 M',Q^1&4&*([0.@OT0Y"B1TS\$65!<1A77.:('FF6/]KIW(V@H=[; MCMBIA+_6_G'))YB/$NWT+>'(\V`=>+9$BX.61OP;HIS[K[>LBR3:J- MP0E?C.([-'4LM0E1"-BS$^EBEU$H054J#ML\E>2&ADY52M& M M1EE^5!Y>X)D5>2HXJ_96IF&Z%"=N#@K"(GP?D`H@G^X3(_[9F#,\`],HB2@< M`"E*8Y5O2\6Z"B2\`WG41*WLUD/7G6NX&M4^%R1L805VPX]IE$##5#4^C%__ M_).S\5GJIOHAC0HDZ9817S@@4M$FCJ8<+#,MY-;40'8RG5+YEVJ:I"G.4O88 ME6TY-_.1;LY^78$=V&>Z M]>S9Y<,P/M1M9=^NU!&";W,;W+L;D79U@?/PE`KZ'3RSX>V&&!AXHQ@'S*]2 M[+4C8D?4FQ-3),#OO.+BM!A@[SJUVN<;2X_A&8;ZXL$DFEWCY&LXQ=[NK2>L MX>JW#15;WX*!1@!E<+]N21>GMN,$E>;H!W+#2^_'7*@VQ-C7A94XW:$7.K;T MP.UP^R=4`K-)%72(5@'T*R-D M/P[H(,QPIVM=GMV>L8%O/UIPLJ+HB0U<5/\\3*=X3N['\3)U278R1S%D9X$V M;7%"`%C%B=WOE###<6(R_=A4)-&:H(?LK M,T3MBIE*.H%@4XF]?%:IT04FH<.(*NB?C4;CN]LD4012:$:F>5BAX(;>BB91 MM"3_Y#KJKCA:_,:P4#5Z"8"NUNPZK#*[LSG^AYK2,3:;PY[(^;XJA>%)'1*_ M/P4A?=$GN<+AXG:9I/E"(C>.JMPP5$CJA0&5E0*L3_<$%D;I:FEN]<'WQCU6 ME*;NMTIY=GF$#M=*B#42Z6DZ#"`^25!:HMLT/J"Z%C_7\',=P,[ MVT"YYUP)+<%V[NHZZTH$Q-B]:_^\*P7/"#;S&CSSJKX;Z#*Y#A?A/$@NXJC7 M]C_9C1`[Q-0*![]#3(+;W"%&=_X5UN@'8H\[I(5!7BQBPM7+77MN;34)7,/8ZE+A2R=<]`G3\'B<8XY[[WPC$9.OG%` M02=#VQBKZ5!4)EC9UR9^_LY,F\#O!C3Q.PZ2'4^HB)4)C!Z:@#HF8YM`OH?H M7_:%T'QPG@QT.%O32D0;HUWYMM"W,'M`U4D`6V@3N0!>DVCFW6L<2X:70ZL! M'<1NI//-#CH91=B3Q\8]4%%H7:AJ`OE[N21LKD4QGURH"6!O&PB.>VK!<2/) MT!@=]TQ%1PJTF57!?GC=B+(P%W'5?BFM3;%O@!&6J#`Z M8@$3KQL/+N):(^_`G.Q!H0`]2=27"^1Y2UI9$=PU&!O7[4 MB@K?%75NA07Q&@?+7)/P3*Q],$#=F?SE>T196QK9,1P6V.LFK;#P75'G5%B0 MS.VSS/4(S\B

T!Y$?%?<.1,8>DUIBV^$5Z/) MJ6XAKE2=KLZ"JWA31;4VV#8P4RZ!=V;67!>-AL/0(<%^")+L)KCEOMS!L1DJ M-R$D3!QA0_CDPBZNHO&RQ>1!XH78ZF6:_:XGL;!R__'.3?&WZ0,EZ"7@= M09X1B"HT=?`X&,TZZ4"73>P+CE2T<:"__@H#TMVTV& M$$H="+["YKFW.KOTFFU%U)^:+82VATTPWM[+TTT&8KS77IW>C'L,QCT'&&=L MZQ!YV`3CNV+&=\$8ASZ:NYU[E_%=!QC?E3*^:YKQ]M:<;C(0X[VVWO1F?(_! M^)X#C#/V:(@\;(+QUV+&7X,Q_EHKXZ\9C+]V@/'74L9?FV:\O<^FFPS$>*]] M-+T9WV,'8(P?:&7\@,'X@0.,'T@9/S#*.'D,T9Q;D0S!>!T(GO$\]Q;C])IMQNM/ MS6:\[6$3C(OFW(ID(,8USKGEN7<9MS[G5G]J+N-FY]P(H&C.K4@&8ESCG%N> M>Y=QZW-N]:?F,@[HX7XK6^J?C^S"^)OC7HO+5O2AQ-4+:(*S#J2E>G4F..DU M!_B73'#">MA,]=HKJ]>&N-=N]1+-)A?)0.1KG$W.<^]6+^NSR?6GYO(/Z&$S MU>MU6;TVQ+UVJY=HZKY(!B)?X]1]GGNW>EF?NJ\_-9=_0`^;J5[[9?7:$/?: MK5ZB=9(B&8A\C>LD>>[=ZF5]G:3^U%S^`3ULIGJ]*:O7AKC7;O42+4H5R4#D M:UR4RG/O5B_KBU+UI^;R#^AA,]7K;5F]-L2]=JN7:`6P2`8B7^,*8)Y[MWI9 M7P&L/S67?T`/FZE>[\KJM2'NM5N]1,NM13(0^1J76_/%HW$GB,C02>`QL)/.E&`D@/FZE>7EF]-L2]=JN7>->& M![:GP.M%?>_JQ=BUX3FPK:!Z:B[_9M^4(JGBC00>V#*WIW4C@ZFQXVP;AX;=L#6WGUM*YM>XRU;<^!Q5=/NOCJF7U3BJ2*EUL]L,5`3^MR MJ\=8;O4<6`_TI.N!GMDWI4BJ>`70`UN?\K2N`'J,%4#/@24J3[I$Y9E]4XJD MBA>E/+`E$T_KHI3'6)3R'%@U\:2K)I[9-Z5(JGB=Q`.;Q?>TKI-XC'42SX&) M?$\ZD>^9?5.*I(JG[CVPB65/Z]2]QYBZ]QR86_:D<\N>Z3>E=L6SR;M@3=QFSR;L.3'?N2J<[=WO/P-PF=V]S7CUOYTW.*KWRQ_4DFGTXC6;XZ1PO M;G'2XJ2;/)17'I`*K[-XNES@*`O*PS+Y_'90_.O_"A:/__T![>_LH#P!_7"% M[^9XFJ4HBM$,SY;3_*BRNSA!=QBG6P@7)R6GB%S)@B><_OC*AB9X'JLTH8\= MZ+/^&?G[UXA<1!]*5CX7"5:.VNSO::CO_7;RU?/)+`8,3,78$+9&?1Z8$SD/ M25'GP7/Z,9WH6Z0=.I`K(=8H3]F$VXSV>DB$:A$4D/2T$4K`FBKS=R0#'4W- M>3H-)]-O(;]M85H,E:``#K;U8`'YY]='IVAR].ETP]H&@=GF"3KAG1ZPZ$\Z%^APK8K*SU1&@V$D2%V2C>=$38HS`+[Y-X^?CI_E809OEF0]4C M`X8-N%PT?YV"/OWM\!3]\(!G]WB&PBB+T"9/!`D\R M<[",U[B-(UM;;*?C`DEH[YB,DAH'4$-@;R/E*FN-\;[+J,YQ<4MC6FG5$M*[ M&&5$SV=1'`GG@YP/&LS;>6N,Y5THPY5LPVC6%L;7@P))+&?;C9*;"%I#5&?" M<57WW0Y0&>PK2AV)^"-9`8W]3`"-#0`'SVA]W%CB1[4& M_3>>$F:#>US?_MC^9'VI)Z'EX.VH:Y M609];[;&%B>6;3H-]JOL=4@>\#1_R&)N4U)UV_:`,F(715M5;L'Y^6^TON"( MI-A.$4J+3Y$I4:W!CX.L3;_<'%!2S()H4U03S5__1/2W(WIB>D0H)RX[6M1T M%:9?"MQCG`7A_":XG>,;_)0=DOR_M'B7&0]5DEHA8'0DP?)I^G;YQGIA@3[G M-E96$]0\4^E)G2$M:GJ/\:<@))J^3*YPN+A=)BFF"WF7Y-(D37&64E%?WMW@ M9!%&`:,)')3#4-V-*"Z,&(<4P"(NNN#1N`_%]&IQYU8>!E%\AVIWV]#P M""]7PAZI"RUJ_Q`GV5T\#^,;4M^HYZ^ZS2_'9JABA9`PFF1#^.O+:'5]"UU9 M:F>%7J@T(_6]%E6'3T$R3U.>6VJW'RH5E0+`B,;*9J_LD`K M$U3:D`:66*'XS#*CL-T&B^C+&7KBVDX4ED" M<%!-L7!6:D)5(EJG%H*R*26!:SHBDE!C1C[G810NEHO3Z"M.,]JP7N%_+4.B M[,F"ED@F*NGM8%)3+*@F`HRJ=6'9)_"4WYJ/CR[B*. M$CQ=)DD8W4^F>8>#%(KVJ+R!JM4!J?9P M:%>Q/2G7(MS+[`$GJP)=X&\T@!\&*9Y=1B=I%B[(0+[=CJO=,E2J?0H$HU$E M1#^W0BNS+40,\S9\"^6VB$AU;6U1F'W<5RFR+Z5ZUMNF10^6@A/IIR1ZKXHD M462O.P>OPO4O'M""7`]@?V5<]"^I>=ZV5[IU2JT#?%I;TAO&NM;VOU&1_AZ0 M`F5)$">S,`J2YW7I,*:+C_,EZ3!S>@,#\AG;-QA<=-B>0O]B5/V&9HQ&Y&[4 MN+U*HAF@50X.]",&.[_;JQ@E'6`.&7N8HW%Y-1IE=I%G!W%!')>EH)VLH^7^"9N M-QH<[?6X?ZP8>Q<55IWJ\)5[NYJ^I!HM`B M\VL2TC-\_[Q>>#VB#HCHU>Y.#YGQX)=>E0H!]&ZR&,M?I:-J];QA85&`:FZJ MO;.J3)>V?6IG<8K/XP@_,[:EU=+&[$+K0,!M.JNRSO>8(?H;Y1'9-FNMENS'DFXUA7@0,)P(F2J&'9A(JTBQ+0^24 MIDIDA&@33"[-\R#Y@C/:SC&TTK$8(Q,.')Q"V@"%.(HX45PN^B]VA<%Q0U,3 M`L=KC!_9:90N2:_G&#_&:4AR?287LC!;,OH@2G>,BRI*Q8$,,&+`5:S)4&F& M*CM4,[0>>)3\UHY!RDQJT]]1P'JQIY$R1D^M[.%TL\JXT$?YRQ;[K:=LLLSP MHSXVX_ER$5T$BS8C[<11G'9``&FM\BZ9S2]8KMW=)VY1S/2L-I89W(YC%)[' MDCV[M+')TK_-'B=W<;((\K?L\K]H_3^=SY=I/B9-?PN2,+@-YV'V?'E7O/W2 M'C,,S&/P-OTQ10;:QC^H"'[M-E2[#]5N1+4[Z3Z(\EZ+XASE[MK[`F-%HEO^ MEQ&F[S%?)FX!4"*T@*!*Y&/V!`B-4/4KIQA+"Q18>J&$J6^ M8PI1B4\M.CP,$OIRZ0J]W+AR'A8'LW8\E)N/^'BN4D%@M"=%HU_+S5\@ MK@ENM4Z6.!92"K!_/E#@J?D[^B>U)8P;J^_060X5K#C'P96TB/*4XE^"Q79H%4^ M*,\(K7-"5(2HEA=:9X:*W!RH&N.IZ58>&*EIKE[YU-'[.,F+1ZKZ95[`V6GT M(8G31U+RSJZ'GO>.KS0]B@A=/U2@FU6AF(&DGP0HJ@%M#/8^(@/%A.%3M%<1A5TB0<="=,/8ID%> M&-A&0H`GJ/2V.QER+W4;#C76+"BME\IT*UWHC( M<*B&Y.`P^A'@^$6:2ST1N58EUD=>FJ1E4%9<23DGIIY",KEK)?_T`UU) MEFT94+P'8-^*O$C@&U<$D(V=*[E=L9.`L8O`\IX5N=^8FU;4V#2BP]J>U*/\ M7-;V1@&5&Z`4R"^,'ODQ\!C::VQ"+NUDW-#OPK?4H7;+4-7U*1",[I00_4)@%S%:V^7KYM1RJW8@7VYM<;6\ MC_LJ(?:EU$CP^TA//"MF(=[38W^#.>M#,8HW005!<:'T!$(.)B,8?LP/RBMG MGTI;>Y^;Z>4Z?E244VI$COG.PCG^&D3934QJQ.H;)A)!\F^#DJ2L8'I$R45E MR++89%H8TU598K[^FHT+RI1YD*]-%7:-J/,RPOF^ILN[R1T9.9&B7#_$W]H# M8.6[H+0I*98>:?)`&E*4$KR*S`A( MK!V75*,N&!M:N0F>3OZU#+\&ON@L9&7KE-SX MCA-J3TRG%B'>/(1)]BSNUG-LA@I-"`DC+#:$7URN=YWL31H(O5"I1.I[$ZK@ M=XB2F4`!3[.HGO%EJ/9U]TU%0'5=>%*)U3!,0S- MC.]PWB9W;W.9>-[.FUPD],H?USCY&D[Q]4-`Z#S'B]O.9@NFQ>#O!_+A5.0P MBZ?+!?'`ZC-Z@H\',H#\\B(JKKZR\F5`O@-JGP/4[/)^;T3*ZR`;HN5N]+E( ML?-!QH%NY[\).9Z$O3XD?,7);:SR8BH;:<7%1OE^;^W[O?YOH7+BW=$._>_U MN[<'S˛[*.`\(IL9UK*U8K&N^Q*Z;UN;A?6%.N40R85FC;#$=#Q;). MOKT"F7H3SL#QKT^N?CL].MDZ/)L<_7IU>?0K.I]<3/YVG=[\ MCCY<7MV\OSP[O40E3>FJ"2HRVA"ZF.&O+/L9N9?\)K_('[=!BLF/_P-02P,$ M%`````@`NW5\01,JODIC/@``XT`%`!4`'`!BX+*_MGMZ.C8T)6H)E3E&DFZ1<=G3T?[\@*?`!XB59 M3B9L['[H&C,I')PD01QD(O'3OS\OPL$32=(@CG[^P?MQYX__]=/_^?3I_\ZOKX8S.+I#N97!]/3B- MHXB$(7D9G'\=7"7QE*1IG`QV?]S)_W^P3.E/#LZ6_PJR=#DXCS+:9N;/R>"_ M?O.CV:=/>0MA$'V[\U,RH*"B].A/_U&Z?GVXS1>?,XM/I^N M&&7_I81\B;(@>SF/[N-DX6?4.11/#NMOV_>;-<+/SDY=G/S]Z]'ET7]\.?W'Y.+H]OSB_/;WJ\GU[=GDXGSR&A>\LN'->IT_ MG+-E2&X>_(0\Q.&,)&>$I&_4U=>T]KK^'471T@_/EM%L\D@2^EA'\R_/CR1* MW[ROKVWY=?U>-?7EV<\QWR9^E#[&Z9L]RUMI=IL]OHROR8PL'O-QK*?>OP+" M-I[YVSCSPW)<,7G@COWDA+Z=V>L?^8T;?F6OZ52%3AJZ&,#(\SEQN2/`73\LN<]C:-X5!` MSVE6S:>;L["]MON<[VR/A^WBZ&TNM#U"M@@"Q3SIK9C9&J`>YE!M"+W-J&0P M,,ROMCC"O`F>_N9>KV?F+5#T/"][_>SDC9"L>'FD_R-?/O^@_(%!\Q<*]!1_&$];D.G_]K,X M>67Q^I`]0E'V:/@1A]63<)_%"0,RJK5@,,4[H M)//G'[R=?&7^]1S.2%"22/_!LTC_]$_V2-W2G^4(;%_J@SJYCW/VVOAZXNV* M)$%,7^89'7AD!'(V>)GD@*XH'0)16@YH)Q1'XH?G=(A]_CMYX2B5V."C5`)T M1>D8B-(CZM59[MFST)]S5'+7\%'(`5Q1MPM-W2E)ITGPV/Q$\PRV3!`3V<*Y MXG,/B$\Z?\]CS#SB.")Z+XUG`V^*B4 M`%U1>@A,Z4F>T4`I43#:-L%+:!OGBL\#T&_W-9D'.<`HN_07/)]B$WQ\BG&N M^!QMB4]#H25X+/F+^`CD$58S\P9W/WWF-?9KE??Z62LKG3UF.KM:4Z#_([_Q MW]9Z[<7.[LOP#CIO#-QTV0=+G MZA5-SVNO:#;'V54+@S^K-OZB%E4[@U5#@[JE0=W4.UOZ-!V'&ZN_[$]'ST$J M&9*EULC61;5X7S&J=(,)^5_^>1X]D90:']U-SZ.4/K'+O%4_+",#7\GBCB0< MJV:W]$&MX=.14VW6B=901#MR3Y*$S"Y*'J1`"Y1/)+F+4U+80KX9I_'"#_@5 M&_XBPM1[PV8_PHFMWXH60*;'R791[@X6\Y;&NH-8LY^$GH MIZEHJ)::81NLI4!?P:ID;G%2?)['!P?BN47W0LD<:PTJ9N@9_[85E+@&OYH[5!6`9%(2A,3)W;_*;'PQA]W+^"CL8F0,@BS;5\U? M)4&>QB9[\Q5VB#GM@F7D@DC$"L<-F<;1S(1>D25B@D5P&<7;VJ)E,O\5O__\ M17Q$\@@9=R"SJU7CEWZ2"\PGG5@0V:%E5`26D;NMW47K+`^=^**MF#(C?+3* MD#).0<1N9RE$S*K<#!^OL'"M; M%@"9`W1@2#6LPM`"=@7++I`3@+,XSJ(X(ZGF(R:RP\>N`BP;%D#T%1N4KOUH M3B;W7YZG#_F_BI"`FF?-+6@IU^!F[(-HL_9"IW**R]N@Y9<'R@@%&8O;&(Y? M?B>^Y$.GM,1.+@>740PY'+/%>4-IH3#'3K9":`PA55S+]^)YL=(2.\\<7$8Q MB):31YS6?<`UMV)W@@Y_E6S?KU?,7P+%73;Y0OQRC$"D8QN5Z3Q<88Z=>,6L M?`0Y*U_!.0GC_,@B,[Z[QMC9[B)F7(/,P6\HO(S,7\33Q,Y5?&QV(#+Z0"8G MK'7M=U)EB)=4U3<09&:2PY3'CQ$_EBUXC#*01>2\9>WC*#/"2:3B,1R#3,5R M$-HOO\P()Z>*K_P89%Z5@]!\V\4F./F4?L?'H-EY1]&,SP`2CY\F-^!CV@0U MXQVF*&"-0COH:FSQL:T!S(@&F:@RSZN?9@L>W=;7O!>I)];L!>@6)BVV[*%3K,7P'EN]4:(' MW>NTPM1`3&>($Z" M[.7G'X;\UBK$=7I6?3]=`5Q_O#2[$[?GS?I@XN]]R_TM'X'5=]CIW_;H"[+\ MUQUK)M$U"8HJ^61V&CP%,ZJ7\@*AK8*A&N>\XN=P>^X5'0/=\%9G^-$.Y2#J M/_"A8)4E4FV64SZC"#BFK"L3`5;/_::K@_FD[C992MO'B4IB3CZU(K+9'RJL0,NE.M@T3'KCV<`F]1:T,4S[YECR$YW M>[]GCJ$ZWU'_ISD48$\0*F( M_0JFQ!O>>4I'FM^&UK'F73!Q]*Y-CIXD M-\$B"/WD,H[6L$Z*DJ1:8&0R[U@=0*+>%2Q&^5A)_%F1_"O$HG M\>(QCB@[GIGW#.S1^M$`NXE'H1<(-_?I<$V?RNWQ^U2.W<2GT&N1F_MTM*9/ MY?;X?2K'#GN4]/2/94"?BGPIH,A9C&9:_@WO0>L#0_P&[]80?>*&UIE6>6Y3 M-VVRH`HX4:$/X6]^D.^H2JY)L+A;)FFA9*5.,[D!K1--P)LX=83]W;LDF?;U MD]B@=9X$KXF_-EECV>Y+Z/+B75Z\RXMW>?$N+][EQ;N\>)<7[_+BFUYP>?$N M+[ZYRN/RXEU>O,N+=WGQ+B_>Y<5O2K3+BW=Y\2XOWN7%N[QXEQ?_^KSX]CFH MMXD?I47YV`V3XL?MI/C5KP]6/S_XLV[@+Y<2;W+PKB0?7F:$;$HM@PDI&(4G MO,N2X77&O2SQ*1\(Z2'V?>7#M\'D4'8\)VK7(4[OOI"9]MVO>CM93WHX]GLJQVE)-WB6GN.04EYSBDE-< M,>Y,YUNJO-H1.;6 M>_9]YMITNJG.NQ&96^_9]YF;PW=3DZE\OC;R8$LQ M>=YO+D]Y/NIM7GS^FF3+)#(Y=_783TYH;^J0 M1B.#9T]X_FK1PPL`T4V?PWZRE__E0.3NLUT5KDC0=B0VR.;4$):A@+)[` M\M$[\8N(&B\.119]$*GT>Z$#14A!4V=:"&1I3#(C_)P*,I)`M'03Q'DT)85K M3_U,Q2QGAYY<#F\[\P207^_PD,\IZ%Y&SV8)$_1D4*YY/DVN>]D&$CT^GP*6 MQ*&:Q*$=)#:24@YZ()%/Z^M>MH'$$7^0)2R)8S6)8SM('$.?*MENGD]#[%ZV M@<1=_MA'6!+WU"3NV4'B'G\H(RR)^VH2]^T@<9\_!!&6Q`,UB0=VD'C`GTP( M2^*AFL1#.T@\K$D$5RRT2RK%4EY&3V()DY$(KEAH\RK%4EZV@<1:L0S!%0MM M7J58RLLVD%@KEB&X8LF[I";1!L52PF0D@BL6VKQ*L927;2!QW,A8ZX%$E6(I M+]M`8JU81N"*A3:O4BSE91M(K!7+"%RQT.95BJ6\;`.)M6(9@2L6VKQ*L927 M;2"Q5BPC<,5"FU%(NG5BR>'8K% MJQ7+J`?%XJD5BV>'8O%JQ3+J0;%X:L7BV:%8O%JQC'I0+)Y:L7AV*!:O5BSC M'A2+IU8LGAV*Q:L5R[@'Q>*I%8MGAV+Q:L4R[D&Q>&K%XMFA6+Q:L8Q[4"R> M6K%X=B@6KU8LXQX4BZ=6+)X=BL6K%GGU>4W[7+67LB%QU1=W M6I.!\&EZJB1.4O]%:8ELTJW$"JHKNT!6`YR.6WX*B2PLXNDAEJV!W3$AR=W"BYG84L-_:EPZ3[B'%T4YOE=O:QW$AY!MISW<5Q M$T134M4+TK/-V]O%.H\>=K-V%X^R`)76W"[NQ46IMK;%VV7.N,P9ESGC,F=< MYLS6,V>V-0/\4)DSFTSH7.8,IJ72#Y0Y`Q/@_J"9,Q[,:I!+G4G,#G-%/_"X MG!P5?!,70T^[91]NBOWJ/)J19_&'NW,9IVNZ.-N%T'OG^9CV,O1?TE_3H_D\ MH1.UC!S'T4S.O,D-.'UA@KQ=3[UW[WQ-I\'1]'L@=X?0`B?_0JCM`NN]$WX2 M9,$\B9>/O\WO%*S+S7!2+\?;KLW>._\WP7/VHAO[Q38XF9>`;5=SQT%[_GYJ M6.^8(":]@[5=_!T'Y]6+J2%>;(>8?3'@=NEXQ#KBPV64;W'-[?UGE&\R.Z02 MS>63KY=/OLF<\.UH?K?)Y)M,_=Z,YO>;2;[)5.]M:'[7>>30LSN71MY)(S_L M(XV6X@JZ8$A+V23=TJ6E8)IZ?:"T%%?0Y0W34F#V M=;BL%.`R(BYYQ*"@"\ANFP^W_.X*NJRQ_(XD@/?^%^"Q51B2"Z&Y+:ANVWH+M[GXGUN&WJ?\3ZW#=W%^_"\VIIX'\RR_`>- M]_4;??I0\3Z#+@0U??<1EP+@/N%?E"G94W+.5RWGT* M');".!\@!PZ)''W_.7!8*N!\@"0X](5NWG\2G`>R>N^RX+880+XF\WP%V8^R M2W_!9QZ)3?`EO8EQ@AYS5?M:<$@*?Q$?@SQ"T,.K:FB_$'\61'/I^UQ=Q\>@ M`"3HV523NW]1_P5/1,QA]S(^"KL80<^=JIJ_2H*%G[S(DH(5=H@Y[8(%/5:J MPG%#IG$T,Z%79(F88!'<;1\?I:3XR_,CB5+)^\]?Q$=XBK#"GC]*`/3N-P MN8@$4WB%'7YF&V`9N8<0Y'[UGX/%2,,6V%,'H33%<#U!TBS.]$ZW0R^B:O1 MQ\H[K'-M>[@%411F^SF9D44Q(-`9;@ZB_@._ZJFRQ.<')5Q&,4R5A"82%:GH::R) M`]'I7Y[IG"6:$]V3J;##1Z@"+",71+`W<,CI1$Y@31FD##^:3N-EE*T<>)2F M).-S\Y26^"A5PJV2]'JA6$>L%736)(*(XO:RE6CB);3`1Z00)J,2)HKY2/*U MZFB^6KN6+!;+S?"1*L?*F(6);G9@R):,E98V\-M=-AX#J;7(GQ>EA?+5:\7' M2F:&CUPY5H.EC3'Z[<--29AOGB7)4S`EWO#.4WK0_#9\'C7'SKP(G9;]*B]. MDIM@$81^/$81[1/7C&%8..RU`T&]OC8-P!M M,D2B/T.KZN=P36?*[1$[4P[:Q)GH4]"K?H[6=*;<'K$SY:"K5&N0F;<1U181 M_)IW9!=]):NCZ1_+@"([6T:S_#-*)TE:YQG>@\^5AL"9\]"'I;6>LL,MF[Y< MZ&/)]!G[S0_RV%MR38+%W3))"W4I]9?)#?C\9X+:Q)^;G'X-ZL]+DFE?.8D- M/J])@)HX"OU*A_Z)S#?^3.YO2;(((E^PYKK1+^!S\D;=8&X&B5]?Q4EV'X=! M?$N[$%-8XHQ^N1D^TN58&;,@"Q,=&+(T?Y6A!>QV$_UW06+<'2#7@KV08AL+ M6+UN[HSTW&L,$=+ MM0(S8QPD4,[@7.?Y))/[1F:)EG7U+7B95^-F[(/$UE>0CA/B?WN,@RC+3TO) M,R8D&EEHB)9I(5K&+TB$O0/D:Q#E>2GE&1CY'/.:E*LM1XLT6^$+; M!^8AD`#]"AY[&6\3?U8N?9W$BT60IGEBL-@KFEO0>D*#F[$/N3\YO28KEH[C M[.&KGV94>!6KC[-.WI39+6C9U^!F[$/N<$[I?T._U+63^\LX2LATF>1;5J0Y M@&O=B=<71O"92T#D:"N.[$YXNUX#.70,K=M/6T_.)3>+03%$D0^7@;M&3S M0!FAD#)[A>'XY7?B2R(D2DOLY')P&<6P.KE`8EH426&.G6Q%B:1]2&W<\KUX MZXO2$CO/'%Q&,:0`7B')<>QX2FZ9"792&4Z#/(5]Z,+?V_#22.^ED25>&IEY M"7U2N*!KNWHO[5KBI5TS+Z'/]NYVS=O1>LG;L<-+.4X#+QU`'W;UVLE67%(`^\5O=3 M1N8OXJ7\SE5\;'8@,OI`0N>L=:UF5!GB)56A!P]!HML,2+4KX"2.IK1+B6BK ME,X8+\\RQ(QKL/.@Y"=!(1X"6O`892`Z.6]9^^K+C'`2J7KE00+-.0CM+$MF MA)-3Q8SJ$.SL1LT\2FR"DT_IG.D0II@TA7!!]M">J*>!`-U("AE9<:6WQT:P!7 M3(,HHP:8\ZCX5\[/>1@NTV)M)OV'GP3^71`&VV:=CE0> M`U%?#9"3J,A)FB07)%4XA3-#S3N'M:(6I@12C>-H-@O*N%TY$3^/9N193K'$ M'#75$LP5Y3"UD1IXGOP@7+U=5P]4`RGH[IKBIKJ+MZ(9ID22&,MOY.XFR/(G M(5&.(*I[K"&>!UYY`$3;-4!=^6EV&A=[Q^@[%]!?)V=+VAG%`Z^X!37_"MR, M?@]$)K(YKGK>;L$DO3,C]T"4(FM>.QU7&>)E5341]T"UYNIM6>WP+\;*;T`(?L4*8%9<@.K(%0;8<)S-"SJA@ M>QD]A5Z#0IAZ0.WVAVH*AQ90.&Q0""*MN/;Y/1W=R^@IK/=LT,EG M#Q2.U12.+:!PW*`01"%Q[?-[5;J7T5.XVZ`01`-Q[>^I*=RS@,*]!H7@FH:V MOZ^F<-\""O<;%()+&=K^@9K"`PLH/&A0""Y<:/N':@H/+:#PL$$AN#JA'5*I MD_(R;@I+C!6%X.J$MJ]2)^5E]!0VU,D07)W0]E7JI+R,GL*AT;9,;XB^S`K7 M+Y7J*2^C=XU9F2)OA+ZV"MBKJ'#]4JG*\C)ZU^P;N@9]R12N7RJU6EY&[YH# M0]>@KX'"]4NE@LO+Z%US:.@:]$5-VOWJE*/I7L;N&L-R,]YHWS+7J%6[9X%J M]\QJJ7DC]/57N7ZI5P,\"U8#O";]X+%*>E6MVCT+5+O7B%6.P6.5]*I:77L6 MJ&NO$:L<@\(U8Y!H]5TJMJM>I9H%:]1JQR#!ZKI%?5JM*S M0%5ZC5CE&#Q62:^JU9]G@?KS&K'*,7BLDEY5JS3/`I7F-6*5XQYBE4.UFAI: MH*:&C5CE&"16R7+CM96?5(;X:%6AK0@&B60R))HR4'(SO.1*RT%Y8Q!-PW!< M$S^-HQN2[^H@LY/03]/3X)Z*6=J[,]J?\\6"S`(_(^'+54*F)-_'=$6H%.9K M]6SC!_&ZZS6]8H[=!=TT5_8I/8N3`NUEG$T*O+/SZ"J)TT?:D4X1JS7OQ>PN MHPY4G@$1
^=LXWS51PENM_[0\(+'!Q[0$:,4HZ/X['HQ@NXW:%!^_:KP5 MS2":3X;%D&*;Z&U0"Z(%?PGF#R3-_G-)L9`D?)&/#$I+?`0KX58<@XC%:A>V M$))BK%#=@(]Q$]05\2`24XUH+=+M([Q!-H@8O8B_FPTD*D-\)*O05@2#BE$A M(L4HHK#'1[B[LS@Y(R1='2:4WOK/A'_RS6[!1[X9[HI^Z#JAQ0/Q*P6RFJR>$0K$#Z^[ MTQ;3F_"YP!1YY03HTI\%JJ*(4DB>_"B[C>EC<;K*'-.X07X;?D?(L5>N@"X5 M6N":1*18'I[<']W3B1=%=O,0?^=GE<9WX7>$%'KE!Q"IRL.B@V3H1R5=*US% M>YMH/*&X#[\O%.`K;T"7&2W?UC6*=TMOP,^_JGK@'G1UT0)1%6\O@XWBPM8L MI+59D!:F2?S.?YM^L\=GOQ>]KLU",;G!(M<)WMO]7@2])CM%;XZ?='FVRCY, MXNX3G;[/B4'Q3X4A/II5:"N"8=)Z!4BD%4'5MG;0+*@/N@^3_=L%(XK2R,VL MX)>+T.S#9`5W<>3Q_6X1&;F=%>0RL"8;U/;Q;^N4=+"SP45N9X_7#`L_[./? M\2GN8'=7KMS.&J^9[M/=Q[\9M-O!FZ!0/:N:SGKO\?96>)$'77D,9O]H%Y"R M,KC6W`K.)77"#T#$<>,XUAOR1"B&E]\#$L[$JD%KC8]P+>2*;Q!-+(4C$Q$F M-UC$ND!.'(`H8QDBT6%<&EM[Z.:.XSH`D<@R,(8DV\1O@UH032S`<>L_?_EC M&3SY(>V9(<^B>ZP@702\\@"(=+Y]")+L1?V5E-C@8U@"M&(4)-C,@9!]!^5F MZ'D5??-`XL=M'*(OG=`".Z'\5PTD^MN&H*01/X,-\D"$7=6Z]FNEM$1,J^K+ M=-A4KTZB[TI]^2>/KMQVF\*-=+3N/I M[`S7*Q\).77Z.":S([OC@Z^?OUY.3O7X\NC_[CR^D_)A='M^<7Y[>_ M7TVN;\\F%^>3&Y(\!5-R\T#YJ3(0LR#+F]^A_S?T!I\&K"7ZS[RQSV5K@U5S M@S^K!O^B%E6C@U6K@[K90=7N8-7P8-7R&PP59.5_^6=K2/A*%G>=]#.A!7+>A)A7 MY&$H+JU[AB_(W`^_1'1H?A&,$)VKR$:$#KX5\]M:K]"Q5S8M?/_;E_K@3>+: MG+?^-W=3^*K+S7KA5/D0B*GE1@*8C*A54C9))]%I0"52<+?, MZ1'/#;36.*G6PEXQ#I.^(P-S%,V*S8/K,<_?99D'>/@K3\!L'*O&O6+B6&1! MBX9JJ1FVP5H*%)+5NFWA,-V]W"^+8M<7,Y`.TA6-FZS^2J9H)\4L9WRP?RA\ MZ[N7L9+51;HB"WVRD'R)<.4$D0&R-U\$$?*;5CP7#W%(6\RW`Q?X9!L%-+;X M5HDU@.OR%6#E;,^6T6SR2/*-7=&\WGNM('V-^_`Y8`WP=?H5@#-6(+X\^XO' MD/P69`_79$8611Q6Z8UU;L3GCG70,YT(\G*T@5W&&WE#=1MV7ZBP,T^`EC-2 M\BXSPL>R#"F;5O=2YL)T(QYJ9A5@&;D@0WFCB(PISV:WX*/<#'X1@OP8L MKL8EN(Z/5P'(%8D@0^[D[E]4&P1/DH)FWJPW&G M+0JCL$/+J*H$#-R*<+V`(DZ[EAGAHU6&M#X``V(\Y5="Q*S*S?#Q*L=:5YR! MT%EQDMW'81#?4ISQ$TDD%6*E9OB8E6-EH6:80#X/0RIA%886L-L=9T>0'S%M MA22%'3YV%6#K#&TXOJ6_`RK\;-V`<1;.V59:6HX&W0\LL#981"RK,5AN.7O.2&":V<)79R M.;B,8L@/((N&&(HYA3EVLA72;@@B[42^%RL1I25VGCFXC&(0I2X$'7[F%1"5*(=F_A(H[K+)%Y*7HX<4#%/EHS#'3KQ"!XT@9^4K.)JBL#IC M[&Q+"\*.0.;@-Q1>1N8OXFEBYRH^-CL0&7TPZ\ZKUK7?294A7E(5W\`1R,PD MARD/V"-^+%OP&&4@*6IYR]K'46:$DTC58P@R%13-S(X?-+D!'],FJ*N=2,`ID^L<]V+'V*L!S(@&F:A6 M9P0KGV8+'MW.;T-Y]*!>[6^7& M==*4)=4`I%;(2@)(MFB=!E`3>K1(-\D']ZC\'B^7B9+E8 MAL67O2BF4R;N39Y(,LG/],S/[DSH:\V1ON:]2!VQ9B]`=Y1IL67=TY\-[['5 M&UGKZ&>80UM*3`TDYXO'."6S272U3*8/?DI2PW=EW=_`[:5U>P.ZFVV%D>4B MKS^NF=V)VT-F?0#=*:=!)A_1U'?8Z8?V:`9SB$SGW9U$UR2(GDB:D=EI\!3, MJ#C)Z^JUZNQIG/.*G\/MN5=T#'0_7YU.1SN4@ZC_P,==599(G:'$#%I`JX5$ MQ:P=7`+OC6QL3%$^HPH[I*PJ$`/7%*MPR#FU@47@[7FKX?YH.HV74;;RXE&: MDHPOYZJT1,JK$C/HIKP.$AV[]G`*O,&N#5$T-Q-:(&53B'7;^^OV1JY[N`==_!.GQYP!^]L<;!V M!^^LSZ([>&TNEC/PYR1>Y\C5N1?A(9H:6 M8CGD94J;CXLXIQ_F'XL@3H+LA>I+/E,2L>QO3FOS66TY#'O#.T_I2//;T#K6 MO`LFCD:_OM/L[B2Y"19!Z">7<;26JW4W6N%L72=`,S6+8!]#+O6!U`HMX5+$ M)B_3:(.7*8LS/X1YE4[BQ6,<478\,^\9V*/UHP%V$X^.L0^/53^':_I4;H_? MIW+L)C[=M<:GHS5]*K?'[U,Y=MBS5J=_+`/Z5.0K`T7:2S33\F]X#UH?&.(W M>;?VL;];6F=:Y;E-W;3),B'@1(4^A+_Y09Z4GUR38'&W3-)"R4J=9G(#6B>: M@#=QZB'V=^^29-K73V*#UGD2O`;^&FZRQK+=E]"E5KK42I=:B8DWEUKI4BM= M:J5+K40Q7W.IE2ZUTJ568J+:I5:B]8!+K72IE4BS!5UJY8=.K6R?;G2;^%%: MU'W:2E[EN)U7N6IKL&IL\&?=W%\NJW*3P[8D*94R(V0CN0PFY#Q%>*JC+)]2 M9]R+LE0^$-*#*WM*J6QCR9'L>$J2F8D-U#*L;Y5#22>7P)'09L=&>C^-+/+3 MZ.U2(/OUTZ[>3[L6^6G7S$^;K'_WZB=O1^LG;\<>/^58WRP+IC4;I&&48'.A)#A,@BIBLQM=@7K0W]Q[`X:=:Q49&Z]`T;`)REJ MX*BCH")SZSVP"WR*HAJ.)KXI,K?=`WD?MEUGQT4K7;02?;32!K)HU0V9[PF(6BN<&JO<&F(;'! M?[.6_^=#!<=8KXO6)/$PB0VRH5R"$C2YIW@BRT?QQ!<=8RZTZ(-(I=^+Z8<( M*62(I`5`%BZ4&>&GM!OY@XE[-$&3')ON_FAFL2A'21VRN?#DL@'YKN7 M;2"Q$6L'GQ?1YL=J$L=VD#B&+A[?;IY/4.A>MH'$1L[!)GFUKR5Q3TWBGATD M[O&UUV%)W%>3N&\'B?M\K7-8$@_4)![80>(!7X`=D&$@\:^3,]D*A2+.5E M&TBL%%(NG5BR>'8K%JQ7+J`?%XJD5BV>'8O%J MQ3+J0;%X:L7BV:%8O%JQC'I0+)Y:L7AV*!:O5BRC'A2+IU8LGAV*Q:L5RZ@' MQ>*I%8MGAV+Q:L4RZD&Q>&K%XMFA6+Q:L8QZ4"R>6K%X=B@6KU8LXQX4BZ=6 M+)X=BL6K%JNN+8KK@TT(K@Z`:ZX MMJL3X.H$N#H!#4Y=<6T\5+OBVF@]X(IKNSH!2+>^N^+:'[JX]A%%X<\%Y0*V M7%M[GRL84#8K+AS@*FMO\+UM^K$D4E)"0&F);*Q78@6=SG2!K-Y;';>\&@,D MUN"9D)"\`@V[J:X+0U@!6V%G%\EQMA0L9B'-WT M.+F=?2PW:R;#Q)2[.&X"JLZJFA-ZMGE[NUCGT<-N^.OB418QT9K;Q;VXL,G6 MM@FZZ*N+OKKH*R;>7/058_05*MOE745?-XFYN.BKB[[V$GV%"9)\T.@KS,J. MB[Y2V,N40H@+R>"'^>`2Q`D=E>@G;.O5AEU4MY>HKH&'MQ4G>NU7FT*_.H]F MY%G\U>Y:3ZFG0S]E_37]&@^3^@D+2/'<323$V]R`TY7F"!O M%]?MW3M?TVEP-/T>R-TAM,#)OQ!JN]IN[X2?!%DP3^+EXV_S.P7KB&?K$-3N8E8-NE?7'0GK^?&M8[)HA)[V!M5P+&P7GU8FJ( M%]LA9E\,N%U'&+&*^'`9B2`YSN\_(W&+ATN^_XS$;0W$8!F)+.YR':3?RA#K M*!?&Q]A]-Y2#UTTVD6C MT4>C75#4;4EM\.:.KG9!T7<;%'5;4MW1U>\A*.J.KL82O'1'5[LMJ4C6--S1 MU9B.KGZSY[5>Z)'L5!09('OS11`A]R7RBV4%P%ORG!W3W_\FY5-LW`>W\H>@ M3:\8<2NK!GJ],DBG89Q_\8@RSL/-!5XS[7;_\ M4"O&!ILLT"?`N97H5VZCV4.29?K.M]%`+R&Z;31K;*-!LI7LP^RB0;*G[,-N MHD&R:^RC;:)!LG?L0VVBP;1?[(-NHH'>.^9R*%P.!4@.A;<)CQ\VB0+_9CJ7 M1;'%P,0UF>?_XB/B)Y MA(P[D+TIJ\8O_23Q\%Y\3UNP`RQT1`F<.0!$ MJJTP-9"<+XICRR;1U3*9/O@I20W?D'5_`ZV#UNT(+S@Q(NHQA$ M&[>0J$A%3V--'(CN_?),YP#1G.B>3(4=/D(58!FY(`*X@4-.)W(":\H@9>W1 M=!HOHVSEP*,T)1F?0Z&TQ$>I$BZC&%*@UDATQ%I!9TTBB,AL+P.))EY""WQ$ M"F$R*F&B@H\D7_N-YJNU8,GBJ]P,'ZERK(Q9F&AA!X9L"59I:0._W678,9!: MB_QY4=XA7PU6?*QD9OC(E6,UV`,T1K^[M"D)\TU.Y)#?!(@C]Y#*.UO*Q[D;<7M:A9[X$T9@G\>(QCFB?O&)ZP<9L MJ1L,[/&Q;P#:Y.6"/JECX3WX7&D(W,2QT#NA M-\VGDWO1#I=MZA_HG=-K^X<^?[_Y01ZS2ZY)L+A;)FFA2J7^,KD!G_],4!N5 M5\'NSTN2:5\YB0T^KTF`FC@*_0J)_HG,-^!,[F])L@@B7[!6N]$OX'/R1MU@ M;H8Y#").LOLX#.);VH68PA)GULO-\)$NQ\J8A2F:QL.0I=NK#"U@MYMPOPL2 M&^\`N1;L213;6,#J=7.'XBY(Y'SU.3J+XRR*,Y)JMH>([/`1JP#+R`71[.Q; MS_($RZPS'<<*<[14*S`SQD$"[`S.=9Z',KEO9*1H65??@I=Y-6[&/DA,?@7I M."'^M\:2'1R$)#M$P+T3)^02+S'2!?@RC/9SDO]HC/,>:!R^IK.].BS,[N-K\E]2*;9"1UFB6RZ MJS#'ZPHY9L8XJ)R^C+.3F`((5YARHDZ7Y#;FWW2)"]:X'Z]/UN@$0W61'-X&+=D\4$8HI,Q>83A^^9WXD@B)TA([N1S(I-BQ,IS+&3 MK2A5M`^IC5N^%V^945IBYYF#RRB&%,`K)#F.'4_)+3/!3BK#:9"GL(^^V+:@ M:R.]ET:6>&EDYB7T">."KNWJO;1KB9=VS;R$/A.\VS5O1^LE;\<.+^4X3;P$ M?8#5:R=;<5W98-V)E^96[%[5X6<>A=36`FCFDS/%73;Y0C)IZT$]-U$93.!$ MYC81SS`SQGN0UQTXZLF8R-PZQD>-@]\0,*Z>6(G,K6-\MV:\![7-P]%,DD3F MMC&>8V:,]R"^3?,9%>;8&5=D-QX`%0%KPCD)XS2(YF9\=XVQL]U%S+B&*8I- MX65D_B)>ANYTG<32E74I$ MVWQTQGAYEB%F7(.=*20_30CQ$-""QR@#T7AYR]I77V:$DTC5*P^BXG(0VEF6 MS`@GIXH9U2&(3LM!:.918A.=8JR,61#)E,,H//K53[Z1+$\8 M$I#:L<#)9PS:?1'3BIUL)F MU(.HJ6)L%T8G6E=P4LE'&0Y!!%+1LJR,*G\1*7'=8JF'8()'P!A6GFIV0+3- ML9_D>VZSHVAV19+[.%GX5)L6QS*+5:+)#?B8-4'->`?1/PT46FFIL<7'M@8P M.[QV!T05-<"<1\6_J&OX':,^MT MI/(8B/)J@)Q$12[-)+D@J<(IG!EJWCFL%;4PI7MJ'$>S65`F)I63\/-H1I[E M%$O,45,MP5Q1#E/3IX'GR0_"U=MU]4#UCX+NKBENJKMX*YIA2ON(L?Q&[FZ" M+'\2$N4(HKK'&N)YX)4'0'1=`]25GV:G<;'GB;YS`?UUVNS7D>B-1KHCBG7]/"LZ?=HHP*.]S4<>V/U12.+:!PW*`01"%Q[?/[/KJ7T5.XVZ`01`-Q[>^I*=RS@,*]!H7@ MFH:VOZ^F<-\""O=K"H?@4H:V?Z"F\,`""@\:%((+%]K^H9K"0PLH/&Q0"*Y. M:(=4ZJ2\C)O"$F-%(;@ZH>VKU$EY&3V%#74R!%LK+Z%UC5E['&Z*O"<+U2Z6FRLOH73,V=,V^9:Y1J;3R,GK7F)4[ M\H;H#W_D^J52?^5E]*[9,W0-^G,?N7ZI5&5Y&;UK]LU<,T)_A"/7+Y5:+2^C M=\V!H6O0']K(]4NE@LO+Z%US:.B:H5VNZ92,Z5[&[AK#>GK>"'T)4:Y?:M7N M6:#:/;/BKMX(?=U0KE_JU0#/@M4`KTD_>*R27E6K=L\"U>XU8I4C\%@EO:I6 MUYX%ZMIKQ"I'X+%*>E6M@CT+5+#7B%6.P&.5]*I:K7H6J%6O$:L<@<(U8Y!H]5TJMJ]>=9H/Z\1JQR#!ZKI%?5*LVS0*5YC5CEN(=8Y5"M MIH86J*EA(U8Y!HE5LMQX;=4GE2$^6E5H*X)!(ID,B:8$E-P,+[G24E#>&$33 M,!S7Q$_CZ(;DNSK(["3TT_0TN*=BEO;NC/;G?+$@L\#/2/ARE9`IR?DVO*L>";IHK^Y2>Q4F!]C+.)@7>V7ETE<3I(^U(IX#5FO=B M=I=1!RK/@`BX?(_\;9SOFBCAK=9_6AZ0V.!C6@*T8A1T_QT/1K#=1FV*CU\U MWHIF$,TGPV)(L4WTUM3N@FC!7X+Y`TFS_UQ2+"0)7^0C@](2'\%*N!7'(&*Q MVH4MA*08*U0WX&/Q'JBG@0X5BT?1F? MDMERFM-S%B=GA*2K@X326_^9\$^^V2WXR#?#S>C?@ZX36CP0OU(@J\GJ&:%` M_/"Z.VTQO0F?"TR15TZ`+OU9H"J**(7DR8^RVY@^%J>KS#&-&^2WX7>$''OE M"NA2H06N242*Y>')_=$]G7A19#/3R]Z79N%8G*#1:X3O;>]"'I-=HK>'#_I\FR5 M/9C$W2AV8?)"N[B*,ZZ[VQ'D]M902X#6[$+DS`L`=+9B"*WLX?=QM:4?9BZ M1V(@W5VN9M[>";1YTQ3K,OLDN(&5% M;*VY%9Q+ZF/O@XC"QA&D-^2)4`POOPF]@!$"PIPW/K/7_Y8 M!D]^2'MFR+/H'BM(%P&O/``B&6\?@B1[47\E)3;X&)8`K1@%D8D<"-EW4&Z& MGE?!-^\`1".V<8B^=$(+[(1R7[4#$$78AJ"D$3^##?)`A%W5NO9KI;1$3*OR MR]14`L` M`00E#@``!#D!``#M6UMOXC@4?E]I_X,WSQ-"Z/1"!3.BMQ4:6BI@=F:U6HU, M8JBWCI.UG194S7]?.Q=N"832I(JT:1](XN/O.R?GB^T<3.OSS"'@"3&.7=K6 MS%I=`XA:KHWIM*WY7(?`X& M`W#E4HH(07/0O07WS+40YRX#Q[6Z^@<^EY#@QO\'"^Z#+A624\`I`M^_06KK MNF+@U@-R(!"039&X@P[B'K106WL0PCLWC.?GY]J80.M1@C_6+-#YFD].]:$/S&<'T,0W=;#:;1M`:FR8L9V-&8D^.#-4\AAPMD&4KWF&/J;R) MU%K84YD$WTGO8`MFB+F'#&FD2RO$L*7)VPY`"U+J"BBD!H)S=<7S,)VXT:F\ MH#P[C]T;H`D(PCI7@&V-8\WZD?'D,UZ6)L(K`@LM\] M0UQF+6`&/=G`/P!(%E;,)6A'\*K9\%8@>DOW8@C(K`1*(CD2Q/40$QCQE0P8 MN05O09(2_"4DED_>$KNU1"AKZ#::I(0N'U%,\1LBMQ<`90VQ/XLT_RI'OP!'<0(JX<2#81P8`6O96R";.+['-E]^BDXWAQ(HMZ1R:Z> M&X_A_AW759S>+[H:9R:GA`TP?QP@X3,Z]!T'LOE7&L@+V1>]SN670?_RRVWG MKO/[]=4?_5YGU.UU1W_>]P>CFWZOVU_/Z-N@LE)NFNLI5VQ&2`@.6?D"DC"5=T^T\,% M9)=R!2#2IIQ#H3*5_4)_HIY_ZZTL5T;3W(BGZ;D]0T#2TZ8 MF6HYW5!+2)NNFFI4*>[U]@H)B$D>;[<'(&6JY&S[RVU(5[W;YB0,S"WB00&OPR\/]G_+R0\N4R)-)9$%7;I(%"EXB6DKH>0Z@AQ0U1HB]H2ML!#" M-F2:=14.D,1&Z$51A>B2C'2EIT:_FJ=')#RQ1,;E6V6"(\TDBU5BFJ MZK9+,+DB9XJGH(I<):5WJ=#MTE%^L)DB*J1Z5TGHW:MY^\LI+XI,:;U'I:]2 M6L&5O_6DYU@'W`*ZX5`.WHHL[TN)^N+NEF0S\R:S-NQYM#7^."BC#<6/HZ%^)^ MKW8AP.+(JDW=)\-&.-B9K]=-";#5A]0^ZD!?=CZ`G;%7DT==Y.>KJ;,W]N^5 M@M6>=V%'E8.FRH%YLN9*]`.+P)>VUJ5/B`N7=<965^H'"U^10!(^L+?(&2,6 MCD]J5_2/_!F'8%33>5T_2QYUY--)77=W.ZZ67+7&]M=;Y38]:/3D^/C M=-?7FLKE^K!#[?LNM=$L.<(DFLKE^@5D%H%S_I5WIE.&IE"@"Y?:Z<'L8URN M\&ZYA3O6,TZ/)[6U7`%&UL550%``/Q:;90=7@+``$$)0X```0Y`0``4$L!`AX# M%`````@`NW5\080#E9T%`P```!,``!4`&````````0```*2!$XH``&)R9C M`Q0````(`+MU?$%:!*TY3$H``$Q\!P`5`!@```````$```"D@6>-``!B`L``00E#@``!#D!``!02P$" M'@,4````"`"[=7Q!J$0H$S`I``"0@0(`%0`8```````!````I($"V```8G)F M-RTR,#$R,3$P-E]L86(N>&UL550%``/Q:;90=7@+``$$)0X```0Y`0``4$L! M`AX#%`````@`NW5\01,JODIC/@``XT`%`!4`&````````0```*2!@0$!`&)R M9C`Q0````(`+MU?$&P+][N&08``&X^```1`!@```````$```"D@3-``0!B M
XML 14 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } }
XML 15 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
12 Months Ended
May 15, 2012
Risk/Return:  
Document Type Other
Document Period End Date Sep. 30, 2011
Registrant Name BLACKROCK FUNDS
Central Index Key 0000844779
Amendment Flag false
Document Creation Date Nov. 06, 2012
Document Effective Date Nov. 06, 2012
Prospectus Date May 15, 2012
XML 16 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BLACKROCK FUNDS
Prospectus Date rr_ProspectusDate May 15, 2012
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Overview
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The investment objective of BlackRock Managed Volatility Portfolio, formerly BlackRock Asset Allocation Portfolio, (“Managed Volatility Portfolio” or the “Fund”), a series of BlackRock FundsSM (the “Trust”), is to seek total return.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of Managed Volatility Portfolio.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination June 1, 2013
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 401% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 401.00%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund’s most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Managed Volatility Portfolio uses an asset allocation strategy, investing varying percentages of its portfolio in three major categories: stocks, bonds and money market instruments. The Fund has wide flexibility in the relative weightings given to each category.

The Fund may also invest a significant portion of its assets in affiliated and unaffiliated ETFs and mutual funds. See “Information About the ETFs and Mutual Funds.”

With respect to its equity investments, the Fund may invest in ETFs, mutual funds or individual equity securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts. The Fund, the ETFs and the mutual funds may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund, the ETFs and the mutual funds may invest in securities of companies of any market capitalization.

With respect to its fixed-income investments, the Fund may invest in ETFs, mutual funds or individual fixed-income securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations, asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S. governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund, the ETFs and the mutual funds may also invest a significant portion of their assets in non-investment grade bonds (junk bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund, the ETFs and the mutual funds may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis.

With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements. The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates.

The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, indexed and inverse floating rate securities, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S. currencies. The ETFs and the mutual funds may, to varying degrees, also invest in derivatives.

The Fund may invest in U.S. and non-U.S. real estate investment trusts (“REITs”), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).

The Fund incorporates a volatility control process that seeks to reduce risk when portfolio volatility is expected to deviate from the Fund’s targeted total return volatility of 10% over a one-year period. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index over time. Volatility may result in rapid and dramatic price swings. While BlackRock attempts to manage the Fund’s volatility exposure to stabilize performance, there can be no guarantee that the Fund will reach its target volatility. The Fund will adjust its asset allocation in response to periods of high or low expected volatility. The Fund may without limitation allocate assets into cash or short-term fixed-income securities, and away from riskier assets such as equity and high yield fixed-income securities. When volatility decreases, the Fund may move assets out of cash and back into riskier securities. At any given time, the Fund may be invested entirely in equities, fixed-income or cash. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
Risk [Heading] rr_RiskHeading Investment Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Risk is inherent in all investing. The value of your investment in Managed Volatility Portfolio, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The principal risks set forth below are the principal risks of investing in the Fund, the ETFs and/or the mutual funds. In the following discussion, references to the “Fund” shall mean any one or more of the relevant ETFs or mutual funds and the Fund, where applicable.

Principal Risks of the Fund’s Fund of Funds Structure
  • Affiliated Fund Risk — In managing the Fund, BlackRock will have authority to select and substitute ETFs or mutual funds. BlackRock may be subject to potential conflicts of interest in selecting ETFs or mutual funds because the fees paid to BlackRock by some ETFs or mutual funds are higher than the fees paid by other ETFs or mutual funds. However, BlackRock is a fiduciary to the Fund and is legally obligated to act in the Fund’s best interests when selecting ETFs and mutual funds.
  • Allocation Risk — The Fund’s ability to achieve its investment objective depends upon BlackRock’s skill in determining the Fund’s strategic asset class allocation and in selecting the best mix of ETFs, mutual funds and direct investments. There is a risk that BlackRock’s evaluations and assumptions regarding asset classes or ETFs or mutual funds may be incorrect in view of actual market conditions.
  • Investments in ETFs and Other Mutual Funds Risk — The Fund’s net asset value will change with changes in the value of the ETFs, mutual funds and other securities in which it invests. As with other investments, investments in other investment companies, including ETFs, are subject to market risk and, for non-index strategies, selection risk. In addition, if the Fund acquires shares of investment companies, including ETFs, shareholders bear both their proportionate share of expenses in the Fund (including management and advisory fees) and, indirectly, the expenses of the investment companies. If the Fund acquires shares of affiliated mutual funds, shareholders bear both their proportionate share of expenses in the Fund (excluding management and advisory fees) and, indirectly, the expenses of the mutual funds. To the extent the Fund is held by an affiliated fund, the ability of the Fund itself to hold other investment companies may be limited.

    One ETF or mutual fund may buy the same securities that another ETF or mutual fund sells. In addition, the Fund may buy the same securities that an ETF or mutual fund sells, or vice-versa. If this happens, an investor in the Fund would indirectly bear the costs of these transactions without accomplishing the intended investment purpose. Also, an investor in the Fund may receive taxable gains from portfolio transactions by an ETF or mutual fund, as well as taxable gains from transactions in shares of the ETF or mutual fund by the Fund. Certain of the ETFs or mutual funds may hold common portfolio securities, thereby reducing the diversification benefits of the Fund.
Principal ETF-Specific Risks
  • Cash Transaction Risk — Certain ETFs intend to effect creations and redemptions principally for cash, rather than primarily in-kind because of the nature of the ETF’s investments. Investments in such ETFs may be less tax efficient than investments in ETFs that effect creations and redemptions in-kind.
  • Management Risk — If an ETF does not fully replicate the underlying index, it is subject to the risk that the manager’s investment management strategy may not produce the intended results.
  • Passive Investment Risk — ETFs purchased by the Fund are not actively managed and may be affected by a general decline in market segments relating to their respective indices. An ETF typically invests in securities included in, or representative of, its index regardless of their investment merits and does not attempt to take defensive positions in declining markets.
  • Representative Sampling Risk — When an ETF deviates from a full replication indexing strategy to utilize a representative sampling strategy, the ETF is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the ETF may not have an investment profile similar to those of its index.
  • Shares of an ETF May Trade at Prices Other Than Net Asset Value — The trading prices of an ETF’s shares fluctuate continuously throughout trading hours based on market supply and demand rather than net asset value. The trading prices of an ETF’s shares may deviate significantly from net asset value during periods of market volatility. Any of these factors may lead to an ETF’s shares trading at a premium or discount to net asset value. However, because shares can be created and redeemed in Creation Units, which are aggregated blocks of shares that authorized participants who have entered into agreements with the ETF’s distributor can purchase or redeem directly from the ETF, at net asset value, large discounts or premiums to the net asset value of an ETF are not likely to be sustained over the long term. If a shareholder purchases at a time when the market price is at a premium to the net asset value or sells at a time when the market price is at a discount to the net asset value, the shareholder may sustain losses.
  • Tracking Error Risk — Imperfect correlation between an ETF’s portfolio securities and those in its index, rounding of prices, the timing of cash flows, the ETF’s size, changes to the index and regulatory requirements may cause tracking error, which is the divergence of an ETF’s performance from that of its underlying index. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because an ETF incurs fees and expenses while its underlying index does not.
Other Principal Risks of Investing in the Fund
  • Collateralized Debt Obligations Risk — The pool of high yield securities underlying collateralized debt obligations is typically separated into groupings called tranches representing different degrees of credit quality. The higher quality tranches have greater degrees of protection and pay lower interest rates. The lower tranches, with greater risk, pay higher interest rates.
  • Concentration Risk — To the extent that the Fund’s portfolio reflects concentration in the securities of issuers in a particular region, market, industry, group of industries, country, group of countries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that region, market, industry, group of industries, country, group of countries, sector or asset class.
  • Convertible Securities Risk — 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.
  • Corporate Loans Risk — 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.
  • Counterparty Risk — 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.
  • Credit Risk — 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. The degree of credit risk depends on the issuer’s financial condition and on the terms of the securities.
  • Debt Securities Risk — Debt securities, such as bonds, involve credit risk. Debt securities are also subject to interest rate risk.
  • Derivatives Risk — The Fund’s use of derivatives may reduce the Fund’s returns and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A risk of the Fund’s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.
  • Distressed Securities Risk — 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.
  • Dollar Rolls Risk — Dollar rolls involve the risk that the market value of the securities that the Fund is committed to buy may decline below the price of the securities the Fund has sold. These transactions may involve leverage.
  • Emerging Markets Risk — Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop. Investments in emerging markets may be considered speculative. Emerging markets are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, many emerging securities markets have far lower trading volumes and less liquidity than developed markets.
  • Equity Securities Risk — Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Extension Risk — 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.
  • Foreign Securities Risk — Foreign investments often involve special risks not present in U.S. investments that can increase the chances that the Fund will lose money. These risks include:

The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.


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


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


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


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


Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.

  • High Portfolio Turnover Risk — High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund and potentially higher capital gains or losses for shareholders. The effects of higher than normal portfolio turnover may adversely affect Fund performance.
  • Indexed and Inverse Securities Risk — Certain indexed and inverse securities have greater sensitivity to changes in interest rates or index levels than other securities, and the Fund’s investment in such instruments may decline significantly in value if interest rates or index levels move in a way Fund management does not anticipate.
  • Inflation Indexed Bonds Risk — The principal value of an investment is not protected or otherwise guaranteed by virtue of the Fund’s investments in inflation-indexed bonds.

    Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced.

    Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value.

    The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Short-term increases in inflation may lead to a decline in value. Any increase in the principal amount of an inflation-indexed bond will be considered taxable ordinary income, even though investors do not receive their principal until maturity.

    Periodic adjustments for inflation to the principal amount of an inflation-indexed bond may give rise to original issue discount, which will be includable in the Fund’s gross income. Due to original issue discount, the Fund may be required to make annual distributions to shareholders that exceed the cash received, which may cause the Fund to liquidate certain investments when it is not advantageous to do so. Also, if the principal value of an inflation-indexed bond is adjusted downward due to deflation, amounts previously distributed in the taxable year may be characterized in some circumstances as a return of capital.
  • Interest Rate Risk — 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. In general, the market price of debt securities with longer maturities will go up or down more in response to changes in interest rates than the market price of shorter term securities.
  • Investment Style Risk — Under certain market conditions, growth investments have performed better during the later stages of economic expansion and value investments have performed better during periods of economic recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other funds that use different investment styles.
  • Junk Bonds Risk — 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.
  • Leverage Risk — Some transactions may give rise to a form of economic leverage. These transactions may include, among others, derivatives, and may expose the Fund to greater risk and increase its costs. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet any required asset segregation requirements. Increases and decreases in the value of the Fund’s portfolio will be magnified when the Fund uses leverage.
  • Liquidity Risk — 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 Fund, due to limitations on illiquid investments, may be subject to purchase and sale restrictions.
  • Market Risk and Selection Risk — Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
  • Mid-Cap Securities Risk — The securities of mid-cap companies generally trade in lower volumes and are generally subject to greater and less predictable price changes than the securities of larger capitalization companies.
  • Mortgage- and Asset-Backed Securities Risks — Mortgage- and asset-backed securities represent interests in “pools” of mortgages or other assets, including consumer loans or receivables held in trust. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risks. These securities also are subject to risk of default on the underlying mortgage or asset, particularly during periods of economic downturn. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities.
  • Municipal Securities Risks — Municipal securities risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers of municipal securities, and the possibility of future legislative changes which could affect the market for and value of municipal securities. These risks include:
General Obligation Bonds Risks — Timely payments depend on the issuer’s credit quality, ability to raise tax revenues and ability to maintain an adequate tax base.
Revenue Bonds Risks — These payments depend on the money earned by the particular facility or class of facilities, or the amount of revenues derived from another source.
Private Activity Bonds Risks — Municipalities and other public authorities issue private activity bonds to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its faith, credit and taxing power for repayment.
Moral Obligation Bonds Risks — Moral obligation bonds are generally issued by special purpose public authorities of a state or municipality. If the issuer is unable to meet its obligations, repayment of these bonds becomes a moral commitment, but not a legal obligation, of the state or municipality.
Municipal Notes Risks — Municipal notes are shorter term municipal debt obligations. If there is a shortfall in the anticipated proceeds, the notes may not be fully repaid and the Fund may lose money.
Municipal Lease Obligations Risks — In a municipal lease obligation, the issuer agrees to make payments when due on the lease obligation. Although the issuer does not pledge its unlimited taxing power for payment of the lease obligation, the lease obligation is secured by the leased property.
  • Preferred Securities Risk — 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.
  • Prepayment Risk — 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.
  • Real Estate Related Securities Risks — The main risk of real estate related securities is that the value of the underlying real estate may go down. Many factors may affect real estate values. These factors include both the general and local economies, the amount of new construction in a particular area, the laws and regulations (including zoning and tax laws) affecting real estate and the costs of owning, maintaining and improving real estate. The availability of mortgages and changes in interest rates may also affect real estate values. If the Fund’s real estate related investments are concentrated in one geographic area or in one property type, the Fund will be particularly subject to the risks associated with that area or property type.
  • REIT Investment Risk — Investments in REITs involve unique risks. REITs may have limited financial resources, may trade less frequently and in limited volume and may be more volatile than other securities.
  • Repurchase Agreements and Purchase and Sale Contracts Risks — If the other party to a repurchase agreement or purchase and sale contract defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. If the seller fails to repurchase the security in either situation and the market value of the security declines, the Fund may lose money.
  • Reverse Repurchase Agreements Risk — Reverse repurchase agreements involve the risk that the other party to the reverse repurchase agreement may fail to return the securities in a timely manner or at all. The Fund could lose money if it is unable to recover the securities and the value of the collateral held by the Fund, including the value of the investments made with cash collateral, is less than the value of securities. These events could also trigger adverse tax consequences to the Fund.
  • Risks of Loan Assignments and Participations — As the purchaser of an assignment, the Fund typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation; however, the Fund may not be able unilaterally to enforce all rights and remedies under the loan and with regard to any associated collateral. Because assignments may be arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. In addition, if the loan is foreclosed, the Fund could become part owner of any collateral and could bear the costs and liabilities of owning and disposing of the collateral. The Fund may be required to pass along to a purchaser that buys a loan from the Fund by way of assignment a portion of any fees to which the Fund is entitled under the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower, and the Fund may not directly benefit from any collateral supporting the loan in which it has purchased the participation. As a result, the Fund will be subject to the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.
  • Second Lien Loans Risk — 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.
  • Senior Loans Risk —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.
  • Small Cap and Emerging Growth Securities Risks — Small cap or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a more limited management group than larger capitalized companies.
  • Sovereign Debt Risk — Sovereign debt instruments are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies.
  • Structured Products Risk — 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.
  • Supranational Entities Risk — The Fund may invest in obligations issued or guaranteed by the International Bank for Reconstruction and Development (the World Bank). If one or more stockholders of the World Bank fail to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities, and the Fund may lose money on such investments.
  • Tender Option Bonds and Related Securities Risk — Investments in tender option bonds, residual interest tender option bonds and inverse floaters expose the Fund to the same risks as investments in derivatives, as well as risks associated with leverage, described above, especially the risk of increased volatility. An investment in these securities may be subject to the risk of loss of principal. Residual interest tender option bonds and inverse floaters generally will underperform the market for fixed rate municipal securities in a rising interest rate environment.
  • U.S. Government Mortgage-Related Securities Risk — There are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. Mortgage-related securities guaranteed by the Government National Mortgage Association (“Ginnie Mae”) are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. Ginnie Mae securities also are supported by the right of Ginnie Mae to borrow funds from the U.S. Treasury to make payments under its guarantee. Mortgage-related securities issued by The Federal National Mortgage Association (“Fannie Mae”) or The Federal Home Loan Mortgage Corporation (“Freddie Mac”) are solely the obligations of Fannie Mae or Freddie Mac, as the case may be, and are not backed by or entitled to the full faith and credit of the United States but are supported by the right of the issuer to borrow from the U.S. Treasury.
  • U.S. Government Obligations Risk — Certain securities in which the Fund may invest, including securities issued by certain U.S. Government agencies and U.S. Government sponsored enterprises, are not guaranteed by the U.S. Government or supported by the full faith and credit of the United States.
  • Variable and Floating Rate Instrument Risk — The absence of an active market for these securities could make it difficult for the Fund to dispose of them if the issuer defaults.
  • Warrants Risk — If the price of the underlying stock does not rise above the exercise price before the warrant expires, the warrant generally expires without any value and the Fund loses any amount it paid for the warrant. Thus, investments in warrants may involve substantially more risk than investments in common stock.
  • Zero Coupon Securities Risk — While interest payments are not made on such securities, holders of such securities are deemed to have received income (“phantom income”) annually, notwithstanding that cash may not be received currently. Some of these securities may be subject to substantially greater price fluctuations during periods of changing market interest rates than are comparable securities that pay interest currently. Longer term zero coupon bonds are more exposed to interest rate risk than shorter term zero coupon bonds.
Risk Lose Money [Text] rr_RiskLoseMoney You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock Effective May 15, 2012, Managed Volatility Portfolio changed its investment strategy to invest a significant portion of its assets in ETFs and, to a lesser extent, in mutual funds and directly in securities. Performance for the periods shown below is based on the investment strategy utilized by the Fund prior to May 15, 2012, which focused on investing directly in securities.

On January 31, 2005, the Fund reorganized with the State Street Research Asset Allocation Fund (the “SSR Fund”), which had investment objectives and strategies similar to the Fund. For periods prior to January 31, 2005, the chart and table show performance information for the SSR Fund. The information shows you how the Fund’s performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Fund’s performance to that of the Standard & Poor’s (“S&P”) 500® Index, the Barclays U.S. Aggregate Bond Index, the MSCI All Country World Index (the “MSCI ACWI Index”), the Citigroup World Government Bond Index (hedged into USD) (the “Citigroup WGBI (hedged into USD)”) and three customized weighted indices comprised of the returns of the S&P 500® Index, the MSCI ACWI Index, the Barclays U.S. Aggregate Bond Index and the Citigroup WGBI (hedged into USD) in the percentages and combinations set forth in the table. Effective October 1, 2011, the Fund changed one of the components making up the customized weighted index from the S&P 500® Index to the MSCI ACWI Index. Fund management believes that the MSCI ACWI Index better reflects the Fund’s increasing exposure to non-U.S. equities. Effective May 15, 2012, the Fund changed one of the components making up the customized weighted index from the Barclays U.S. Aggregate Bond Index to the Citigroup WGBI (hedged into USD). Fund management believes that the Citigroup WGBI (hedged into USD) better reflects the Fund’s increasing global exposure. As with all such investments, past performance (before and after taxes) is not an indication of future results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the Fund’s returns would have been lower. Updated information on the Fund’s results can be obtained by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The information shows you how the Fund’s performance has varied year by year and provides some indication of the risks of investing in the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone (800) 882-0052
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress http://www.blackrock.com/funds
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture As with all such investments, past performance (before and after taxes) is not an indication of future results.
Bar Chart [Heading] rr_BarChartHeading
Service Shares
ANNUAL TOTAL RETURNS1
BlackRock Managed Volatility Portfolio
As of 12/31
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the ten-year period shown in the bar chart, the highest return for a quarter was 13.78% (quarter ended September 30, 2009) and the lowest return for a quarter was –13.12% (quarter ended December 31, 2008). The year-to-date return as of September 30, 2012 was 9.13%.
Performance Table Heading rr_PerformanceTableHeading As of 12/31/11
Average Annual Total Returns
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads However, the table includes all applicable fees and sales charges.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Service Shares
 
Risk/Return: rr_RiskReturnAbstract  
Management Fee rr_ManagementFeesOverAssets 0.55% [1],[2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Interest Expense rr_Component1OtherExpensesOverAssets 0.01%
Miscellaneous Other Expenses rr_Component2OtherExpensesOverAssets 0.39% [1]
Other Expenses rr_OtherExpensesOverAssets 0.40%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.18% [1],[3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.38% [1],[3]
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.33% [2]
1 Year rr_ExpenseExampleYear01 135
3 Years rr_ExpenseExampleYear03 432
5 Years rr_ExpenseExampleYear05 750
10 Years rr_ExpenseExampleYear10 1,653
2002 rr_AnnualReturn2002 (15.66%) [4]
2003 rr_AnnualReturn2003 25.53% [4]
2004 rr_AnnualReturn2004 11.17% [4]
2005 rr_AnnualReturn2005 6.18% [4]
2006 rr_AnnualReturn2006 10.11% [4]
2007 rr_AnnualReturn2007 9.37% [4]
2008 rr_AnnualReturn2008 (26.81%) [4]
2009 rr_AnnualReturn2009 26.60% [4]
2010 rr_AnnualReturn2010 13.76% [4]
2011 rr_AnnualReturn2011 (3.49%) [4]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 9.13%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.78%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (13.12%)
1 Year rr_AverageAnnualReturnYear01 (3.49%)
5 Years rr_AverageAnnualReturnYear05 2.16% [4]
10 Years rr_AverageAnnualReturnYear10 4.35% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Return After Taxes on Distributions | Service Shares
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.03%)
5 Years rr_AverageAnnualReturnYear05 1.39% [4]
10 Years rr_AverageAnnualReturnYear10 3.44% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Return After Taxes on Distributions and Sale of Shares | Service Shares
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.66%)
5 Years rr_AverageAnnualReturnYear05 1.67% [4]
10 Years rr_AverageAnnualReturnYear10 3.46% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | S&P 500 Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.11%
5 Years rr_AverageAnnualReturnYear05 (0.25%) [4]
10 Years rr_AverageAnnualReturnYear10 2.92% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.84%
5 Years rr_AverageAnnualReturnYear05 6.50% [4]
10 Years rr_AverageAnnualReturnYear10 5.78% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | MSCI ACWI Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (7.35%)
5 Years rr_AverageAnnualReturnYear05 (1.93%) [4]
10 Years rr_AverageAnnualReturnYear10 4.24% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.49%
5 Years rr_AverageAnnualReturnYear05 4.92% [4]
10 Years rr_AverageAnnualReturnYear10 4.75% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | 60% S&P 500 Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.69%
5 Years rr_AverageAnnualReturnYear05 2.84% [4]
10 Years rr_AverageAnnualReturnYear10 4.40% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | 60% MSCI ACWI Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.14%)
5 Years rr_AverageAnnualReturnYear05 1.91% [4]
10 Years rr_AverageAnnualReturnYear10 5.27% [4]
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO | 60% MSCI ACWI Index/40% Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.96%)
5 Years rr_AverageAnnualReturnYear05 1.38% [4]
10 Years rr_AverageAnnualReturnYear10 4.89% [4]
[1] Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. The Management Fee payable by the Fund is based on assets estimated to be attributable to the Fund's direct investments in fixed-income and equity securities and instruments, including exchange-traded funds ("ETFs") advised by BlackRock Advisors, LLC ("BlackRock") or other investment advisers, other investments and cash and cash equivalents (including money market funds). BlackRock has contractually agreed to waive the Management Fee on assets estimated to be attributed to the Fund's investments in other equity, fixed-income and money market mutual funds managed by BlackRock or its affiliates (the "mutual funds").
[2] As described in the "Management of the Fund" section of the Fund's prospectus on pages 69-73, BlackRock Advisors, LLC ("BlackRock") has contractually agreed to waive 0.05% of its Management Fee until June 1, 2013. In addition, 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 1.17% of average daily net assets until June 1, 2013. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund.
[3] The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund's most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.
[4] A portion of the Fund's total return was attributable to proceeds received in the fiscal year ended September 30, 2009 in settlement of litigation.
XML 17 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BLACKROCK FUNDS
Prospectus Date rr_ProspectusDate May 15, 2012
Document Creation Date dei_DocumentCreationDate Nov. 06, 2012
GRAPHIC 18 BarChart1.jpg IDEA: XBRL DOCUMENT begin 644 BarChart1.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``8$!08%!`8&!08'!P8("A`*"@D) M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_ MVP!#`0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P``1"`$L`AP#`2(``A$!`Q$!_\0` M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4% M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D* M%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$! M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$" M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#I_`/@WPQ= M>!/#EQ<^'-%FGETVVDDDDL8F9V,2DL25R23SFM[_`(07PG_T*^A?^"^'_P") MI?AQ_P`D\\+_`/8*M?\`T2M:/B&RN]1T>XM-.OOL%S+M`GV%\+N!885E8;E! M7*LK#.000#7%_[-B7T30?$'A[Q7=ZK-80:A9#S+>"VTJ".V(5X;)0ZK)-M$8^S%-NX,",@%6^ M7N/"6FS:/X5T;3+EHVGLK*&VD:,DJ61`I()`.,CT%**[HJ3LM&4?^$%\)_\` M0KZ%_P""^'_XFC_A!?"?_0KZ%_X+X?\`XFKVK:5>7UPLEMKVIZ<@0*8K6.W9 M2]LH;F18X+(*&=`Q`S;DXR M?4T].Q*O:]S5_P"$%\)_]"OH7_@OA_\`B:/^$%\)_P#0KZ%_X+X?_B:7_A'M M3_Z&_7O^_-E_\CT?\(]J?_0WZ]_WYLO_`)'HLNP7?\WYB?\`""^$_P#H5]"_ M\%\/_P`31_P@OA/_`*%?0O\`P7P__$UE>$K#6-8\*Z-J=SXMUI9[VRAN9%C@ ML@H9T#$#-N3C)]36M_PCVI_]#?KW_?FR_P#D>C3L#NM.;\Q/^$%\)_\`0KZ% M_P""^'_XFC_A!?"?_0KZ%_X+X?\`XFE_X1[4_P#H;]>_[\V7_P`CT?\`"/:G M_P!#?KW_`'YLO_D>BR[!=_S?F)_P@OA/_H5]"_\`!?#_`/$T?\(+X3_Z%?0O M_!?#_P#$TO\`PCVI_P#0WZ]_WYLO_D>C_A'M3_Z&_7O^_-E_\CT678+O^;\Q M/^$%\)_]"OH7_@OA_P#B:/\`A!?"?_0KZ%_X+X?_`(FLKPE8:QK'A71M3N?% MNM+/>V4-S(L<%D%#.@8@9MR<9/J:UO\`A'M3_P"AOU[_`+\V7_R/1IV!W6G- M^8G_``@OA/\`Z%?0O_!?#_\`$T?\(+X3_P"A7T+_`,%\/_Q-+_PCVI_]#?KW M_?FR_P#D>C_A'M3_`.AOU[_OS9?_`"/19=@N_P";\Q/^$%\)_P#0KZ%_X+X? M_B:/^$%\)_\`0KZ%_P""^'_XFE_X1[4_^AOU[_OS9?\`R/1_PCVI_P#0WZ]_ MWYLO_D>BR[!=_P`WYB?\(+X3_P"A7T+_`,%\/_Q-'_""^$_^A7T+_P`%\/\` M\365X2L-8UCPKHVIW/BW6EGO;*&YD6."R"AG0,0,VY.,GU-:W_"/:G_T-^O? M]^;+_P"1Z-.P.ZTYOS$_X07PG_T*^A?^"^'_`.)H_P"$%\)_]"OH7_@OA_\` MB:7_`(1[4_\`H;]>_P"_-E_\CT?\(]J?_0WZ]_WYLO\`Y'HLNP7?\WYB?\(+ MX3_Z%?0O_!?#_P#$T?\`""^$_P#H5]"_\%\/_P`32_\`"/:G_P!#?KW_`'YL MO_D>C_A'M3_Z&_7O^_-E_P#(]%EV"[_F_,3_`(07PG_T*^A?^"^'_P")H_X0 M7PG_`-"OH7_@OA_^)K*\)6&L:QX5T;4[GQ;K2SWME#C_`(1[4_\`H;]>_P"_-E_\ MCT678+O^;\Q/^$%\)_\`0KZ%_P""^'_XFC_A!?"?_0KZ%_X+X?\`XFE_X1[4 M_P#H;]>_[\V7_P`CT?\`"/:G_P!#?KW_`'YLO_D>BR[!=_S?F)_P@OA/_H5] M"_\`!?#_`/$T?\(+X3_Z%?0O_!?#_P#$UE>$K#6-8\*Z-J=SXMUI9[VRAN9% MC@L@H9T#$#-N3C)]36M_PCVI_P#0WZ]_WYLO_D>C3L#NM.;\Q/\`A!?"?_0K MZ%_X+X?_`(FC_A!?"?\`T*^A?^"^'_XFE_X1[4_^AOU[_OS9?_(]'_"/:G_T M-^O?]^;+_P"1Z++L%W_-^8G_``@OA/\`Z%?0O_!?#_\`$T?\(+X3_P"A7T+_ M`,%\/_Q-+_PCVI_]#?KW_?FR_P#D>C_A'M3_`.AOU[_OS9?_`"/19=@N_P"; M\Q/^$%\)_P#0KZ%_X+X?_B:/^$%\)_\`0KZ%_P""^'_XFLKPE8:QK'A71M3N M?%NM+/>V4-S(L<%D%#.@8@9MR<9/J:UO^$>U/_H;]>_[\V7_`,CT:=@=UIS? MF)_P@OA/_H5]"_\`!?#_`/$T?\(+X3_Z%?0O_!?#_P#$TO\`PCVI_P#0WZ]_ MWYLO_D>C_A'M3_Z&_7O^_-E_\CT678+O^;\Q/^$%\)_]"OH7_@OA_P#B:/\` MA!?"?_0KZ%_X+X?_`(FE_P"$>U/_`*&_7O\`OS9?_(]'_"/:G_T-^O?]^;+_ M`.1Z++L%W_-^8G_""^$_^A7T+_P7P_\`Q-'_``@OA/\`Z%?0O_!?#_\`$UE> M$K#6-8\*Z-J=SXMUI9[VRAN9%C@L@H9T#$#-N3C)]36M_P`(]J?_`$-^O?\` M?FR_^1Z-.P.ZTYOS$_X07PG_`-"OH7_@OA_^)H_X07PG_P!"OH7_`(+X?_B: M7_A'M3_Z&_7O^_-E_P#(]'_"/:G_`-#?KW_?FR_^1Z++L%W_`#?F)_P@OA/_ M`*%?0O\`P7P__$T?\(+X3_Z%?0O_``7P_P#Q-+_PCVI_]#?KW_?FR_\`D>C_ M`(1[4_\`H;]>_P"_-E_\CT678+O^;\Q/^$%\)_\`0KZ%_P""^'_XFC_A!?"? M_0KZ%_X+X?\`XFLKPE8:QK'A71M3N?%NM+/>V4-S(L<%D%#.@8@9MR<9/J:U MO^$>U/\`Z&_7O^_-E_\`(]&G8'=:C_A'M3_Z&_7O^_-E_P#( M]%EV"[_F_,3_`(07PG_T*^A?^"^'_P")H_X07PG_`-"OH7_@OA_^)I?^$>U/ M_H;]>_[\V7_R/1_PCVI_]#?KW_?FR_\`D>BR[!=_S?F)_P`(+X3_`.A7T+_P M7P__`!-'_""^$_\`H5]"_P#!?#_\365X9L-8U33IKBX\6ZTKI>W=L`D%D!MB MN)(E/-N>=J`GWSTZ5K?\(]J?_0WZ]_WYLO\`Y'HT[`[K3F_,3_A!?"?_`$*^ MA?\`@OA_^)H_X07PG_T*^A?^"^'_`.)I?^$>U/\`Z&_7O^_-E_\`(]'_``CV MI_\`0WZ]_P!^;+_Y'HLNP7?\WYB?\(+X3_Z%?0O_``7P_P#Q-'_""^$_^A7T M+_P7P_\`Q-+_`,(]J?\`T-^O?]^;+_Y'H_X1[4_^AOU[_OS9?_(]%EV"[_F_ M,3_A!?"?_0KZ%_X+X?\`XFC_`(07PG_T*^A?^"^'_P")K*\,V&L:IITUQ<>+ M=:5TO;NV`2"R`VQ7$D2GFW/.U`3[YZ=*UO\`A'M3_P"AOU[_`+\V7_R/1IV! MW6G-^8G_``@OA/\`Z%?0O_!?#_\`$T?\(+X3_P"A7T+_`,%\/_Q-+_PCVI_] M#?KW_?FR_P#D>I/!-S=76A,U_=27<\5[>6WGR*BLZQ7,L:DA%5<[47H!19=@ MN[7N1?\`""^$_P#H5]"_\%\/_P`37S3^TMI.G:/X[L+?2;"TL8&TV.1H[6%8 ME+&64;B%`&<`#/L*^N:^4_VK?^2AZ=_V"H__`$=-6=9+E-L,VYZL^B_AO_R3 MOPM_V"K7_P!$K71XKGOAO_R3OPM_V"K7_P!$K71XK5;&$MV-Q1BG8HQ3)&XK MG/AO_P`D[\+?]@JU_P#1*UTN*YSX;_\`)._"W_8*M?\`T2M+J5T.AQ1BG8HQ M3)&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*` M&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&X MHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ M3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L M48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`H:U/IUMI=R^MRVD6FE/+G:[95B* MM\NUBW&#G&#USBL#X8?9/^$2']F>1]@_M"_^S_9\>5Y?VR;;LQQMQC&.,5U- MS(T-M+)'#).Z(66*,J&D('W1N(&3TY('J17._#F1IO#4DLD,D#OJ6HLT4A4M M&3>S_*=I(R.G!(]":GJ7]DZ7%?*7[5W_`"433O\`L%1_^CIJ^K\5\H_M7_\` M)1-._P"P5'_Z.FJ*WPFN&^,^C/AM_P`DZ\+?]@JU_P#1*UM:C=?8K.2<03W# M+@+#`FYW8D``=`,DCDD*.K$`$C&^&P_XMUX6_P"P5:_^B5K:U&XEM+.2:"SN M+V1<8M[6'3UXJUL927O&`OB^*206L&D:G-JP=UETU?($T01 M8V9F8R"(C$\)^5R?W@XX;;O:;>V^IZ=:W]E)YMI=1)/"^TKN1@&4X.",@CK7 M!Z+I6JZ+J-OJ<.C7\MA']LB@T[[3%)=PK.;:0M([R[7S+#.Y/FLW[U/<)V'A M'39M'\*:+IETT;W%E90VTC1DE2R1JI()`.,CT%)-CDDEH:M%O\` ML%6O_HE:O:MI5Y?7*R6NO:GIR!`IBM8[9E)R?F/F1.<\XZXX''7-+X;C/PZ\ M+:8K"448X`R?K2XYZT!82BEQUYI,<`9/ MUH"P453U9=1>W5-(DM(IV;#2W2-(L:X)R$4J7.0!C3F\2:S)H>G M7L"6EM:R/.+K59(#-;QI')LCF\H2HPBE'[P.&<(N"Q*GS`F[#4;G<45B^*KF M_L=-DN[2\L;&UM8I+BZNKNWDN-J(,D")&0G(W$G=QM`"MNRN+-J7BN"/P_)= MC2;:YO9;6WEL!"\CNY4/<%91(%CV(LY`PX(C'S$N%`V"C<[2BN+M?%&J'3C' MJ5E!IFJ2^=*AN6Q!;P1K&99I"2,K$TGE\$>:5#J4C?M&.O-,5A**,<`9/UI<<]:`L)12XZ\TF.`,GZT!8**7'/6C'7F@+"448X`R M?K2XYZT!82BEQUYI,<`9/UH"P44N.>M&.O-`6$HHQP!D_6EQSUH"PE%+CKS2 M8X`R?K0%@HI<<]:,=>:`L)11C@#)^M+CGK0%A**7'7FDQP!D_6@+!12XYZT8 MZ\T!82BC'`&3]:7'/6@+"44N.O-)C@#)^M`6"BJ>M1POI=S]JO9+&U5-TTZ2 MB(I&.6^<_<&T$%@00"2"I`(\Y:[UF:[M]"T26[:"YN)[E4N+XI/%:1Q0`PSR MN'FB,CS^8",RJK1KB/),2;L5&-SU*BN/O]=*^!]$O-%CU01:BEL(YA;R7D]O M"ZAVD<*)&+B,$!B''F,F[()-5'B8QNCL2=S!D9 M2V6R02"0^ M#CT-%O\`L%6O_HE:Z;%^O+* M%W5I#;",F51UC82(P*'C*X^8<'()!S9_",ESI_V"\\1:W9C'WPH90 MPZ+(X_BKRV^\)^'%SMT#2!]+*/\`^)H^'>F6&G?$F$:=96MIOTJZW^1$L>[$ MUMC.!SU/YTYP<=Q4L1&H[(]%NO#=I=07RSR7#7-U*DQNBP\V-HWWPA>-H6-@ M"JD%2[&X MHQ3L48IB&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*, M4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[ M%&*`&XHQ3L48H`;BC%.Q1B@#E/'>M:3I]M!I^KZ7)K'VX,PL5BBD#I&5+.PE M94PK-'QG.2"!P2.7CU+P])IW]GI\.+@V'F^?]F^RZ?Y7F8V[]OG8W8XSC.*L M?%#_`)&[PW_UY7W_`*,M:9IW:JA!3>ISUL1*EI%&FWC-8;B2X/A#6UGD18WE M!LMS*I8JI/GY(!9B!VW'UJOH&H>&]?\`$EE9R>$/L>H6=IYMG->6MJWE1PN@ M"QLCN4VF12`,`N<5@_"X6?_"(C^S/( M^P?VAJ'V?[/CRO+^V3;=FWC;C&,<8KJ;F1X;:66.&2=T0LL494-(0/NC<0,G MIR0/4BN<^&\CS>&999(9('?4]19HI"I:,F]GRIVDC(Z<$CT)J>I7V3IL5\G? MM8_\E%T[_L%1_P#HZ:OK/%?)O[6?_)1M._[!4?\`Z.FJ*OPFN'^,^C_AK_R3 MGPK_`-@JT_\`1*UMZC=?8K.2<6]QFVE_8R>;:7423PR;2NY&`93@X(R".#7!:/::W9ZRFOW/AZ_EN3]JAN M8EFMA/.\JVA68)YOEQQJ+%>:_$_\`Y&_PW_UY7W_H MRUING=J=\4/^1O\`#?\`UY7W_HRUING=JWH'G8SXD/U#O5'P5_R4JV_[!5W_ M`.CK6KVH=ZH^"?\`DI5M_P!@J[_]'6M.OL3@_C7S_(]7HI0#S28.`,GZUSGI MA12X.?Z4`'F@0E%&#@#)^M+@Y_I0`E%*`>:3!P!D_6@844N#G^E`!YH$)11@ MX`R?K2X.?Z4`)12@'FDP<`9/UH&%%+@Y_I0`>:!"448.`,GZTN#G^E`"44H! MYI,'`&3]:!A12X.?Z4`'F@0E%&#@#)^M+@Y_I0`E%*`>:3!P!D_6@844N#G^ ME`!YH$)11@X`R?K2X.?Z4`)12@'FDP<`9/UH&>9_%'_D;O#?_7E??^C+6F:= MVJ3XI?\`(W>&_P#KROO_`$9:U'IW:MJ)YV,^(LW_`$JAX,_Y*5:_]@F[_P#1 MUK5^_P"E4/!?_)2K7_L$W?\`Z.M:JOL3@_C7S_(]5HI0#S28.`,GZUSGIA12 MX.?Z4`'F@0E%&#@#)^M+@Y_I0`E%*`>:3!P!D_6@844N#G^E`!YH$)11@X`R M?K2X.?Z4`0W)F6VE:UCCDN`A,:2.45FQP"P!(&>^#CT-^!GT%:^L:;=7_E?9=9U#3-F=WV1(&\S.,9\V-^F M#C&.ISGC&3\-HGA\,RQ2323NFIZBK2R!0TA%[/ECM`&3UX`'H!2ZE6]TZ>OD MS]K/_DHVG?\`8*C_`/1TU?6F*^3/VM/^2C:=_P!@F/\`]'35G5^$UP_QGTC\ M-!_Q;CPK_P!@FT_]$K728KG/AG_R3CPI_P!@FT_]$I72XJUL9RW8W%&*=BC% M,D;BN;^&@_XMQX5_[!-I_P"B5KIL5S7PS_Y)QX4_[!-I_P"B4I=2NAT>*,4[ M%&*9(W%&*=BC%`#<48IV*,4`>8_%'_D;_#7_`%Y7W_HRUIFG=JD^*7_(W^&O M^O*^_P#1EK4>G=JZ*!YV-^(?J'>J7@C_`)*7;?\`8)N__1UK5W4.]4_`_P#R M4NV_[!-W_P"CK6BOL3@_C7S_`"/6,48IV*,5SGIC<48KG/B473X>^))89KBW MF@T^>>*6WF>)T=$+J0RD$/Q'X/DBFN(]^H2P2(DSJDB&S MN'PZ`[6PT:$$@D$<8R*,5B^+M,O\`5=-CATR\^S,DHDEC\R2+[2@# M?NO-C8/%EMIWKDC;RK`E3PFGZH=0L7U[3[O4T2#4])M+%)KN0A;6=+(LLL>\ MI(Y%S+EWW-E@0WRJ0.5@4;GJN*,5YP+G5-+LKC2]4U2XOT24?;+JTXE#R&*. M*UC@Z#?ZM-;7% MS#91-/+';[=^Q>6(W,HX&3C.<#C)P#1U[Q1:Z-.5R7&E``.6DF=D]O()$;!(.&!(.""/J*+A8GQ1BL^ZU[1[3[=]KU73X/L M&S[7YMRB_9]_W/,R?DW9XSC/:K-O?V=Q]F^SW=O+]IB-Q!LD#>;&-N77!^9? MG3D]2XH$-Q1 MBG8HQ0`W%&*=BC%`#<48IV*,4`>8?%/_`)&[PU_UY7W_`*,M:BT[M4WQ4_Y& M[PU_UY7W_HRUJ'3NU;T#S\9\19O^E4?!7_)2[7_L$W?_`*.M:O7_`$JCX)_Y M*7:_]@F[_P#1UK55]B,%\:^?Y'J^*,4[%&*YCTR&YB::VEBCFD@=T*K+&%+1 MDCAAN!&1UY!'J#7&V%QK6K_#WP[J<5]J'VN;3[>XN%TZ&V%Q<2.B'@S_`+I5 M^9V(P">,$8*MO>+-:TK1=,4ZU/^U_ MPGI%S!JD=I-=V\-Q-=6,.[<&CW'R1,#M!8C[Z,=N1@,0R^?W'Q`GT[1?#<5S MKEFEQ>O;ZA-\>>>=)8(Y[ M"ZMPTD)\]?F9%&08MV">=N.>E)IC4D07.LZYI5[?PZF]@@N97-E+(1Y=M"@= MI+B3!!\E(Q"#N()F=EW*CQL.IT2YAO-*MIK>ZDNTV;#-*H21F7Y6WJ%7:X8$ M,NU=K`C`Q@*VDV#R7[S6L-N,8QQBNJN9&AMI98X9+AT0LL494-(0.%&XA&999(9('?4]29HI"I:,F]G^4[25R.G!(]":74K[)T^*^2_VM M?^2CZ;_V"8__`$=-7UMBODG]K;_DH^F_]@F/_P!'35%7X36A\9])?#,?\6X\ M*?\`8)M/_1*5T%U,EM;2SR"1DB0NPCC:1B`,G"J"S'V`)/:L#X9C_BV_A3_L M$VG_`*)2N@NI&AMI98X9+AT0LL,94-(0.%&XAFVE_8R>;: M7423PR;2NY&`93@@$9!'!YKA/#VGZQH^D^#+N;1+R:XTS1I-+N;*&:#SED/V M?#@M((RG^CMT?=\Z?+][;UW@_3)M&\):)I=TT;W%E8P6TC1DE2R1JI()`.,C MN!238VDMC6Q7-?#,?\6X\*?]@FT_]$I5_5])O+ZY66U\0:IIJ!`IAM8[9E8Y M/S'S87;/..N.!QUS1^&@S\-_"G./^)3:?^B4HZBZ'28HQ1CG.?PH`Z\Y_I5" M#%&*-IV@;CGU]:,HI))]F2*&1-L31Y+B5U'WG0CKR/:L) MO$>D7?\`9V_P!J$O]G8^Q;X;`_9<8QY>9_DQM7[N/NCTI/BI_P`C=X:_Z\K[ M_P!&6M0Z?VK2G34]SDQ&)E2=HHDUC6M#U&0OJ_P[O+Q]YD+7-OI\IW%54MDS MGDJB#/HJCL*U/#_B'1/$?C&$2^&KBTUN&TDE@O;V"V9UC5E5E61)'8?Z[IP, M,U9FH]ZI^!O^2F6W_8)N_P#T=:T5*2AJA8?%2JRY6OS_`,SU$Z?9M93V;6EN M;2?S/-@,:[)/,)+[EQ@[BS$YZDG/6K.*`.O.?Z4;3M`W'/KZUF=@8HQ7/^/= M1N]*\+7=QIHD-](T5I;^6$+))-*D*N`Y"L5+A@K$`XP2`>7R(Y<0%@GWE=,(J1J'+!5`P2KCY=+G6XHQ7C>E>)?$- MS87^GV]SJ$NO7NMP6PF>V:W2VS8QSR+&MQ$`(P8I5P4+JKB0K(Q`DV[>YU"U MAT_5=.N;AK>#[38)H\UW)<27=Y').C1++)EG5Y%5A*^#%';YVJKR;%S#<+'I M.*,5S?@[4[>[FU.T%]<7M_!,7N99$*(QW/$?*3)V1AX)8PO7,98[MWF/TFT[ M0-QSZ^M-:DM6,3QOIUYK'@_6M,TT6YN[ZTDM4-Q(8T7S%*EB0K'@$G&.2,<9 MR,/Q)X=UC5?[3\E-/3^W-)CTN]WW#_Z'CSLO%^[_`'W_`!\-PWE?<'/S?+E? M%B2X;Q'X=M8K[4+:"2UO)'6TO);?>RO;!2QC92A^);?4K^VELUT+1-4L9'P\6H7C(KJ`C*2GD." M=^[CMM4YR2%Y^#P+=2ZIHSZA>;K;3?L\EQ*EU<;]7FBB`66>,,L:,LB(VX^: MS!$!90N#@WFDK'G9J>OC_N-WG_QVI/A\UQ!\0HK;^T=4GMY-,N9&BNK^:X7< MLMN%8"1V`(#L,CU-$Z3CJQ4L5"H^6-_Z^9UE_P"&KRX6]NK>6WM+[]Y%:16S M&)$A>99)@9%`823[!ND`S&2"@+*S2=+ID-Q;Z;:0WUU]LNXXD2:Y\L1^,[>*?P]-YSW$?DRP7$;06LER MPDCF22/,48+NN]5W!<';GE>HYK2H/$MGX1\0W=S'Y7BK6);B:UAAMU"PRK;B M.#=\\J+E;=&)9]H9]N3QF?XB>)-8T;6-&LM%>PC^UP7,TKW=N\W^K:$``+(F M/]:>YZ5DVWB'QA-_S$-`&?\`J%SEQZI M#HVFW%O);W\>D/%/92,LZW`BM6C+RH59$!=9&!N7=GD,9QI:=X=F.GZ50>))DGVWLB%8T;?-B^EC881R+J:1;?CFX*,,1[XG7&N^,(5Q_:6@L1W_LJ; MG_R9JQX,\4:]J'C!-*UB73);=[&>Y5K6T>%@R20J,[I7R,2GTZ4G3<=T.&(A M4=HO\_\`(W_![7D4NI:?-I/V"PLY2MLY<_TI@&*,4;3M`W'/KZT8YSG\ M*`#%&*`.O.?Z4;3M`W'/KZT`>8?%7_D;O#7_`%Y7W_HRUJ'3NU3_`!6_Y&[P MU_UY7W_HRUJ#3NU;T#S<;\19O^E4O!'_`"4RU_[!-W_Z.M:NW_2J7@C_`)*9 M:_\`8)O/_1UK55]B,%_$7S_(]9Q1B@#KSG^E&T[0-QSZ^M%/\`K]F_]([BMR_Z5B:5_P`C_P"%/^OV;_TCN*NOL983XT>SXHQ0!UYS M_2C:=H&XY]?6N8]8,48HQSG/X4`=><_TH`,48HVG:!N.?7UHQSG/X4`171F6 MVE:UCCDN`A,:2.45FQP"P!(&>^#CT/2N;^&IF;PQ*UU'''<'4]2,B1N756^W M3Y`8@$C/?`SZ#I6OK&FW5_Y7V76M0TS9G=]D2!O,SC&?-B?I@XQCJ$_^P3:?^B4KIJI;$/<;BC%.HIDC<5S7PR'_`!;?PI_V";3_ M`-$I73US/PR_Y)MX3_[!-I_Z)2EU*Z'28HQ3J*9(W%&*=10`W%&*=10!Y=\5 M?^1O\-?]>5]_Z,M:AT[M4_Q6_P"1O\,_]>5]_P"C+6H-.[5T4#S,;\0_4.]5 M/`G_`"4RV_[!-W_Z.M:MZAWJKX#_`.2FVW_8)O/_`$=:TZ^PL%_$7S_(]5]_P"C+6H-/[58^*__`"-WAG_KROO_`$9:U7T_ MM710/-QOQ$NH]ZJ>!?\`DIEM_P!@F[_]'6M6]1[U4\"?\E,MO^P3>?\`HZUI MXC8C!?&OG^1ZYBC%.HKF/5.2\<>*+#1'M=-O])O-5&I0S9@@2%E,:;%<.)74 M$'S5&.<\U@Z?XLTVVMK2WT_P-JD%O:.TEO%%'8HL+$,"R`3X4D.X)']X^IJ+ MXK_\C=X9_P"O*^_]&6M5].[5I3IJ>YRXC$RI.R2+^H>*M.N;:[M]0\"ZI/;W M;B2XBECL769@%`9P9\,0$0`G^Z/05?\`"7BG2M5URVTJV\/WFEW-O8R-;-/% M;A4@5HE:-#'(Q49,7RX`^4>@K&U#O57P)_R4VV_[!-Y_Z.M:=6DH:HG#XJ56 M7*TOZ^9ZM%;PPR3/#%'&\[^9*RJ`9&VA=S'N=JJ,GLH':I<4ZBLCM/+OBK_R M-WAK_KROO_1EK4&G=JL?%?\`Y&[PS_UY7W_HRUJOIW:NB@>9C?B)M0Z&J?@; M_DIEM_V";O\`]'6M7-0Z&JG@7_DIMM_V";S_`-'6M/$;$8+^(OG^1ZWBC%.H MKF/5/+?BM_R-WAK_`*\K[_T9:U!IW:K'Q8_Y&[PS_P!>5]_Z,M:KZ=VKHH'F MXWXB?4.]4_`W_)3+;_L$WG_HZUJYJ'>JG@7_`)*;;?\`8)O/_1UK3Q&Q&"^- M?/\`(];Q1BG45S'JC<48IU%`#<48IU%`#<48IU%`'EOQ7_Y&[PU_UY7W_HRU MJOIW:K/Q8_Y&[PS_`->5]_Z,M:K:=VKHH'FXWXBS?]*I^!_^2F6O_8)O/_1U MK5R_Z54\"_\`)3;7_L$WG_HZUIXC8C!?Q%\_R/6L48IU%/[+^S_V?_:.H?9_LVWRO*^VS[=FWC;C&,<8KJ[J1X;:66." M2X=$++#&5#2$#A1N(7)Z*K6YU:.S6TO$MYKB6SM[Y@GDSSQ;_,C4!C("/*EY9%4^6<$Y7=T-<' MIFCZI'JVF6$_\`L$VG_HE*OZOI-[?W*RVOB#5-,0(%,-K';,K')^8^;"[9 MYQP<<#CKGD/AWH&I3?#_`,,RQ^+=YFD,MO9%@8V@"XQ;CC]ZV?H/QFL!K M]QC?XPUD9]+>R_\`D>N.MF%*A/DG>YZ.'RFOB*?M86MZGI]%>97ZZ_;YV>,- M9/UM[+_Y'K/\.W7B/4O&,.DS^+M66V>QGN2R6]D'W))"H&3;XQB5L\=A^*I9 MC1K35.-[L=;*,11I.M.UEYGKM%MJUY M:W6H>*_$$T]LDD<3;+-=JN4+#`MP#DQIU]/7]SQ5X@'_`;/\`^1ZU MI5%#=''B<-*J[Q:_KY&+J'>JO@+_`)*;;?\`8)O/_1UK72R?#OS/O^*O$!_X M#9__`"/3;#X;KI^IKJ-IXI\01WBPO`)-MF?D=D9A@V^.3&G.,\?6G5JJ:T0L M/A94I)R:_KY'>45S?_".:I_T.GB#_OS8?_(U'_".:I_T.GB#_OS8?_(U8W.V MWF(!_P&S_`/D>M:510W1QXG#2JN\6OZ^1C:CW MJKX#_P"2FVW_`&";S_T=:UTDGP[,GW_%7B`_\!L__D>FV'PW73]374+3Q3X@ MCO%A>`2;;,X1V1F&#;XY,:9R7Q7_Y&[PS_P!>5]_Z M,M:KZ=VKH-6^'IU>\MKK4/%?B":>V22.)MEFNU7*%A@6X!R8TZ^GN:;'\.1' M]SQ5X@'_``&S_P#D>M:510W1QXG#2JN\6OZ^1C:AWJKX#_Y*;;?]@F\_]'6M M=))\.S)]_P`5>(#_`,!L_P#Y'IMA\-UT_4UU&T\4^(([Q87@$FVS.$=D9A@V M^.3&G.,\?6G5JJ:T0L/A94I)R:_KY'>45S?_``CFJ?\`0Z>(/^_-A_\`(U'_ M``CFJ?\`0Z>(/^_-A_\`(U8W.VWF(!_P&S_\` MD>M:510W1R8C#2JN\6OZ^1CZAT-5/`G_`"4VV_[!-Y_Z.M:Z63X=F3[_`(J\ M0'_@-G_\CTRP^'"V&IKJ-IXI\01WBPO`)-MF<([(S#!M\(/^_-A_P#(U'_".:I_T.GB#_OS8?\` MR-6-SMMYG)?%C_D;O#/_`%Y7W_HRUJMIW:NAU;X>'5[NUNM0\5^()I[9)(XF MV6:[5YIL?PY$?W/%7B`?\``;/_`.1ZUIU%#=')B,-*J[Q: M_KY&/J'>JO@3_DIMM_V";S_T=:UTDGP[,GW_`!5X@/\`P&S_`/D>F6'PX%AJ M:ZC:>*?$$=XL+P"3;9G".R,PP;?')C3G&>/K3JU5-:(G#X65*2(/\`OS8?_(U8W.VWF=)17E/C63Q# MH>O:/8VGB_6'BO+>YED,MO9%@8V@"XQ;CC]ZV?H/QDL#X@N,;_%^L#Z6]E_\ MCUQ5LPI4)\D[W/2P^4U\12]K"UO4]2HKS2^CUZW!V>,-9/UM[+_Y'K.\/W/B M/4?&,.DS^+M76V>QGN2R6]D'W))"H&3;XQB5L\=A^*I9C1K35.-[L=;*,11I M.M.UEYGKE%M:=10W1R8C#2JN\6C(O^ ME5/`O_)3;;_L$WG_`*.M:Z23X>&3[_BKQ`?^`V?_`,CTRP^'`L-374;3Q3X@ MCO%A>`2;;,X1V1F&#;XY,:?$-EDNU]C)GBW&?E=A@\<_2H8_AP(_N>* M?$`_X#9__(]:4JBANCEQ.'E5:<6C(O\`I6+H_P#R4#PG_P!?LW_I'<5VH(?AE%#J%I?1^*/$"W5HYDA?%F=K%&0G'V?!^5V' M/K55*JFM$9T,)*G)-M?C_D>@45S?_".:I_T.GB#_`+\V'_R-1_PCFJ?]#IX@ M_P"_-A_\C5C<[K>9TE%>9>/$U_P_'HS67C#67-[??99/-M[(X7R)I,C%N.QZG17FM[ M%KT"Y3QAK1^MO9?_`"/6+:ZAXEE\4:'IK>+M5$%],UG3S.C4FH1O=FM3)L13INK*UEYGK]TTRVTK6L<Y`SZ#I4W_``CF MJ?\`0Z>(/^_-A_\`(U1?#.-X?#$L4DTEPZ:IJ2M-(%#2$7T^6;:`N3U.`!Z` M5W]3R[:'4U\B_M=_\E)TW_L$Q?\`HZ:OKNOD3]KS_DI.F_\`8)B_]'35-3X3 M2C\1]+_#$?\`%M?"?_8(M/\`T2E=-BN;^&`_XMKX3_[!%I_Z)2NFQ5+8A[C< M48IV*,4Q#<5S/PQ'_%M?"?\`V"+3_P!$I748KF?A@/\`BVOA/_L$6G_HE*74 M?0Y7XI?\CEX9_P"O*_\`_1EI5C1_X:@^*G_(Y>&/^O*__P#1EI4^C_PU\OFG M^\OT1]KDW^XKU8_6/XJQO!'_`"4^V_[!%Y_Z.M:V=8_BK'\#?\E0MO\`L$7G M_HZUK/+O]ZA\_P`F:YG_`+A4^7YH];Q1BG8HQ7UI\(-Q1BG8HQ0`W%&*=BC% M`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`# M<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<4 M8IV*,4`>6_%;_D?^CK6MO5NAK%\$_\E0M?^P1> M?^CK6L\N_P!ZA\_R9>9_[A4^7YH]9Q1BG8HQ7UI\*-Q1BG8HQ0`W%&*=BC%` M#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`<-\5-+U+4K'1'TC3Y;^2T MU'SY8HI(T;9]GF3(,C*#\SKQG/-8-@GB&WQO\'ZP?I<67_R17:ZEJ,6L6U_: M^'-;C:]L7(NX].>":Y0@-B("0E(W++C,@(P&'!^98_#U]JNH^"Y9X)+>365^ MU00M=+A1+'))&@GV#&X%`)#'\I8-LRNVN+$8*EB)\\[W/1PN95\+3]G3M:]S ME[V37YUPG@_6A];BR_\`DBL[0]%\03>-O#]W=>'KVQL[2YEFFFGGMF"@VTT8 MX25F)+.O:NAMIKTZ'<_VCXIU2RFTZX,-^WD6TTXF*QF.*)E@V.C"164"(R.9 M4'RL#'1;:QXML)(+C7K*S)N[:WAAL87`S>.L>54CN<5SWPI%G_PAP_LO[/_`&?_`&CJ/V;[-M\KROML^S9MXVXQC'&,5J>' M]4CN_#\ES:WW]N3P[][6Z)$97^^%16("J0R["S$%&1B[!MYH_#.1IO"\LLD, MEN[ZIJ3-#(5+1DWT^5;:2N1T."1Z$UZ%]3RNAU.*^0_VO?\`DI6F_P#8(B_] M'35]?8KY"_:^_P"2E:;_`-@B+_T=-4U/A-*/Q'TQ\,!_Q;7PE_V"+3_T2E=- MBN:^&`_XMIX2_P"P1:?^B4K8U"+4Y+FS;3KNS@MU?-RD]JTK2KD<(PD4(<;N M2&ZCCC!I;$/&'#[&9,DPLPVL>"N<'("NQM(Z#%K'ZQ_%6/X&_P"2H6W_`&"+S_T= M:UL:Q_%61X%_Y*C;?]@B\_\`1UK6>7?[U#Y_DS7,_P#<*GR_-'KN*,4`8)Y) MS^E&T[0-QR,<\9-?6GP@8HQ1CD')QZ4`8)Y)S^E`!BC%&T[0-QR,<\9-&.0< MG'I0`8HQ0!@GDG/Z4;3M`W'(QSQDT`&*,48Y!R<>E`&">2<_I0`8HQ1M.T#< ME`!BC%`&">2<_I1M.T#<E`&">2<_I0`8HQ1M.T#<5__P"C+2I-'[4SXL?\CCX8_P"O*_\`_1EI M3]'[5\KFG^\OT1]ODW^XKU9,F@`Q1BC'(.3CTH`P3R3G]*`#%&*-IV@;CD8YXR:,<@Y./2@`Q1 MB@#!/).?THVG:!N.1CGC)H`H:QI4&K6RP74EY&BN'!M+R:V;.".6B96(YZ$X MZ>@JLWAS3_[.CL8_MD%NB,@^SWT\+'%Y6NHXX[@ZIJ1D2-RZJWVZ?(5B`6&>A(&?0=*V-9TR[U`Q?9-4?^CK6M6\T/QEEB(SG&R7IV-,=F6&JX2=*$KR=NC[KR/1Z*6BOHCY,2BEHH`2BEHH`2B MEHH`2BEHH`2BEHH`2BEHH`2BEHH`2BEHH`2BEHH`2BEHH`2BEHH`2BEHH`2B MEHH`2BEHH`2BEHH`\K^+7_(X^%_^O*__`/1EI3M'[4GQ;_Y''PO_`->5_P#^ MC+2ET?M7RV:?[R_1'VV3_P"XKU9A-+J/H=57Q_\`M@_\E+TS_L$1?^CIJ^P: M^/\`]L'_`)*7IG_8(B_]'35-38NE\1]-_"__`))GX2_[!%I_Z)2NGKF?A=_R M3/PC_P!@BT_]$I6QJ$6IR75FVG7=G!;J^;E)[5I7E7(X1A(H0XWUMV9;[2]5LWE0/9)/&BO?`RQQ+L7>3&2\T*XF\LCS!D#:^W8T'6 M(]7AN?\`1KBSNK6;R+FUN-GF0OL5P"49D.4=&RK$8;!P00.!U*U\1^(]2:\O MO"]Y:/:/'+:B:ZML+%%>VTQB4)(V^698,EG*(A1$!Y>1NQ\(6EW'-KNH7UI) M9'4[\74=M,Z-+$JV\$.'V,R9)A9AM8\%L;[3GU6U,&M:='^\AN+%VW7<*.K(X0NA21@ M005/U7B7Q=!/:Z]IFL7=Y<2:0DUM:"RMYY;=HYY9PBS$HX692SQ*TH6R-YBPW<"2H'P0&PP/(!(S[FHQX>T8:V=9_LG3S MJY/_`!_?9D\\?)L_UF-WW>.O3CI18#!^),$Z:8-6>\N%TC2X9KJ^LK:>6VEN M$50=R31.K*R*)"$.4:A8VNKMIS5J+1M,AUF;5H=/LX]3G3RY;M($$TB_+@,^-Q`VKQG'`]!18= MS@#K[Z/96ZZ[J%PVE:?,1)<6KO(9YD,LKV_FG#/':PQ$R/\`>F*%3\XDB?TZ MJJ:=9K90V8M;?['`8_)@\I?+B\LJ8]JXP-I52/0@8Z"K.T[0-QR,<\9--(3U M%HHQ\P.3C'2@#!/).3^5`@HI-IV@;CD8YXR:7'S`Y.,=*`"B@#!/).3^5)M. MT#<,FEQ\P.3C'2@`HH` MP3R3D_E2;3M`W'(QSQDT`+11CY@2,FEQ\P.3C'2@`HH`P3R3D_E2;3M`W'(QSQDT`>5_%S_D< M?"__`%Y7_P#Z,M*71^U'Q<_Y''PO_P!>5_\`^C+2C1^U?+YI_O+]$?:Y/_N* M]67-6Z&L?P+_`,E2MO\`L$7G_HZUK8U;H:R/`G_)4K;_`+!%Y_Z.M*C+_P#> MH_/\F7F7^X5/E^:/7Z*`,$\DY/Y4FT[0-QR,<\9-?5GPXM%&/F!R<8Z4`8)Y M)R?RH`**3:=H&XY&.>,FEQ\P.3C'2@`HH`P3R3D_E2;3M`W'(QSQDT`+11CY M@2AZ5S'PQ,S>%I6NXXXK@ZIJ9D2-RZ*WVZ?( M5B%+`'H2!GT'2MC6=+N]0,7V37-1TO83N^R);MOSC&?-B?I@XQCJXF*,4N*,4Q"8KE_AH_/\F7F7^X5/E^:/8<48I<4 M8KZL^($Q1BEQ1B@!,48I<48H`3%&*7%&*`$Q1BEQ1B@!,48I<48H`3%&*7%& M*`$Q1BEQ1B@!,48I<48H`S]=GTRUTBZDUZ6RATLIY=PUZRK"5;Y=KEOEPN<5SOPF%E_PA@_LK[/_`&=_:6H_9OLVWRO*^W3[-FWC;C&,<8QBNMNI'AM9 MI8X)+AT0LL,14/(0,A5W$+D]!D@>I%Q5/XCZ>^%O_),O"/_`&![/_T2E=/BN9^%H_XMCX0_[`]G_P"B4K9U M&'5)+JS;3KRR@MT?-RD]JTSRKD<(PD4(<;N2'ZCCC!:V$]S`E\;VMNS+?:7J MMG)*@>R2>.-7O@98XEV+O)C)>>!<3>61Y@R!M?;LZ!K$>L0W/^C7%G=6DWV> MYM;C9YD+[%<`E&9#E)$;*L1AL'!!`X75]'UC6=7N-5LM#U'3L_9)KNWO[J%W MO&MKN":)8`DLB1[42Y&"8U+S*3GEEZSP?:7D< MC'S<9-+M.X')QCIZT`)BC%*%()Y)R?RI-IV`;SD8^;C)H`,48I=IW`Y.,=/6 M@*03R3D_E0`F*,4;3L`WG(Q\W&32[3N!R<8Z>M`"8HQ2A2">2M`"8HQ2A2">2&8_$4R.4MK>>(M/AT>W\T-!((YU9SB)?+<[2S2!6/"%LKGI] M']5-Y=W4HV)J4D4,=G$22WDF.W8EL$!?,#@<$[L%6XZX^'>JW* MO-):Z-'>7-H;-72\G8:6ZS3O'=Q%D)N+D"?<9'\M]ZN0X\UL)E(V-=\->"]+ MNK6SM_`.E:G?W*22QVMIIMHK^7&4#N6E*)@&2,8W9.\8!`)$7AW4O!FGWT5[ MX8\-V]O9S_9[:35[&QA@C1K@1/%$XRLQW^;;GA"H+KDC:VW4\=>'-6\26XM+ M*2#39EWQPZS%>3)"+NQF?2]*6SB\/2W MUC?!VG9%(\P_*VT;@#8T_P`;:3J.C'4+#[1/NF6W M@MECQ-<.\:RQ!%)`^>)TDR2`JDE]FQ]O3XKC]0\+7UPNH7=M-;VE^3)%9PVS M&*.."29))U,BJ&$EP8P7E`)C+`H"RL\G3Z9;W5OI=G!?7AN[R*)$GNA&(_.< M`;GV#A=Q!.!TSQ0A,LXHQ2[3N!R<8Z>M`4@GDG)_*F(3%&*-IV`;SD8^;C)I M=IW`Y.,=/6@!,48I0I!/).3^5)M.P#>2< MG\J`$Q1BC:=@&\Y&/FXR:7:=P.3C'3UH`3%&*4*03R3D_E2;3L`WG(Q\W&30 M`8HQ2[3N!R<8Z>M`4@GDG)_*@!,48HVG8!O.1CYN,FEVG<#DXQT]:`(;HSK: MS-:1QRW`0F))9"B,V.`S`,5!/4@''H>EA(&?0=*V=:TN[U`Q?9-=U+2]A.[[(ENV_.,9\V)^F#C&/O'.>, M8_POB>'PK+%)/)<.FJZFK32A0\A%_."S;0%R>IP`/0"EU'T.KQ7QU^V-_P`E M-TS_`+`\7_HZ>OL?%?'/[8__`"4[3/\`L#Q?^CIZ4]BJ>Y]/_"S_`))CX0_[ M`]G_`.B4KJ,5S/PL_P"28^$/^P/9_P#HE*ZC%-$O<;BC%.Q1B@!N*Y?X6?\` M),?"'_8'L_\`T2E=5BN7^%G_`"3'PA_V![/_`-$I0'0Z;%&*=BC%`#<48IV* M,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4 M`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`- MQ1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1 MBG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG M8HQ0`W%&*=BC%`#<48IV*,4`9VNW&F6NCW4FOS64.EE/+N&O6582K?+M0@9"KN(7)Z#)`]2*Y?X72-/X5EEE@DMY'U74V:&4J7C M)O[@E6VDKD=#@D>A-'4?0ZO%?''[8_\`R4[3/^P/%_Z.GK[)Q7QO^V3_`,E. MTS_L#Q?^CIZF>Q4-SZA^%G_),/"'_8'L_P#T0E=1BN9^%8_XMAX0_P"P/9_^ MB$K9U&'5)+JS;3;RRM[9'S=)<6C3/*N1PC"1`AQNY(?J..,%H3,36O&^D:3K M+:5(+FXOEA\S9!'E=YD@C2'>2%$CM1S:]J%_9R6)U2_%U':S. MC2Q*MM!#A]C,F2868;6;Y67.#D`N%D=#BN7^%G_),/"'_8'L_P#T0E:.LZ-? M:A=++:>(]5TN,(%,-I':LC').X^;"[9YQP<<#CKG&TKP3>Z5I=GIUAXS\116 M=I"EO!'Y5@VQ$4*HR;8DX`').:`.PQ1BN9_X1C5O^AX\1?\`?C3_`/Y%H_X1 MC5O^AX\1?]^-/_\`D6BX6.FQ1BN`\%:9KFN>#=!U:[\:Z\ES?V$%U*L5O8!` MSQJQ"@VQ.,GC)-;/_",:M_T/'B+_`+\:?_\`(M%PL=-BC%(O^_&G_P#R+1<+'38HQ7,_\(QJW_0\>(O^_&G_ M`/R+1_PC&K?]#QXB_P"_&G__`"+1<+'38HQ7`>"M,US7/!N@ZM=^-=>2YO[" M"ZE6*WL`@9XU8A0;8G&3QDFMG_A&-6_Z'CQ%_P!^-/\`_D6BX6.FQ1BN9_X1 MC5O^AX\1?]^-/_\`D6C_`(1C5O\`H>/$7_?C3_\`Y%HN%CIL48KF?^$8U;_H M>/$7_?C3_P#Y%H_X1C5O^AX\1?\`?C3_`/Y%HN%CIL48K@/!6F:YKG@W0=6N M_&NO)-6(4&V)QD\9)K9_X1C5O^AX\1?]^-/_ M`/D6BX6.FQ1BN9_X1C5O^AX\1?\`?C3_`/Y%H_X1C5O^AX\1?]^-/_\`D6BX M6.FQ1BN9_P"$8U;_`*'CQ%_WXT__`.1:/^$8U;_H>/$7_?C3_P#Y%HN%CIL4 M8K@/!6F:YKG@W0=6N_&NO)(O^_&G_P#R+1<+'38HQ7,_\(QJW_0\>(O^_&G_`/R+1_PC&K?]#QXB_P"_ M&G__`"+1<+'38HQ7,_\`",:M_P!#QXB_[\:?_P#(M'_",:M_T/'B+_OQI_\` M\BT7"QTV*,5P'@K3--6(4&V)QD\9)K9 M_P"$8U;_`*'CQ%_WXT__`.1:+A8Z;%&*YG_A&-6_Z'CQ%_WXT_\`^1:/^$8U M;_H>/$7_`'XT_P#^1:+A8Z;%&*YG_A&-6_Z'CQ%_WXT__P"1:/\`A&-6_P"A MX\1?]^-/_P#D6BX6.FQ1BN`\%:9KFN>#=!U:[\:Z\ES?V$%U*L5O8!`SQJQ" M@VQ.,GC)-;/_``C&K?\`0\>(O^_&G_\`R+1<+'38HQ7,_P#",:M_T/'B+_OQ MI_\`\BT?\(QJW_0\>(O^_&G_`/R+1<+'38HQ7,_\(QJW_0\>(O\`OQI__P`B MT?\`",:M_P!#QXB_[\:?_P#(M%PL=-BC%P"!GC5B%!MB<9/&2:V?^$8U;_H>/$7_?C3__`)%HN%CIL48KF?\`A&-6 M_P"AX\1?]^-/_P#D6C_A&-6_Z'CQ%_WXT_\`^1:+A8Z;%&*YG_A&-6_Z'CQ% M_P!^-/\`_D6C_A&-6_Z'CQ%_WXT__P"1:+A8Z;%&*X#PEIFN:QI4]S<^-=>6 M2._O;4".WL`-L-U+"IYMCR5C!/OGITK9_P"$8U;_`*'CQ%_WXT__`.1:+A8Z M;%&*YG_A&-6_Z'CQ%_WXT_\`^1:/^$8U;_H>/$7_`'XT_P#^1:+A8Z;%&*YG M_A&-6_Z'CQ%_WXT__P"1:/\`A&-6_P"AX\1?]^-/_P#D6BX6.FQ1BN`\):9K MFL:5/;8\E8P3[YZ=*V?^$8U;_H>/$7_?C3 M_P#Y%HN%CH;HS+:S-:1QRW(0F))9#&C-C@,P#%03U(!QZ'I7+_"XS-X5E:[C MCBN3JNIF5(I#(BM]ON,A6(4L`>A(&?0=*G_X1C5O^AX\1?\`?C3_`/Y%K4\- M:+'H.DK8Q7-S=_OIKAY[G9YDCRRO*Y.Q57[SMP%`QB@#2Q7QO^V5_P`E/TO_ M`+`\7_H^>OLK%?&O[9?_`"4_2_\`L#Q?^CYZ4MBH;GU'\*Q_Q:_P?_V![/\` M]$)74XKE_A5_R2_P?_V![/\`]$)74XIH3$Q1BEQ1B@0F*,4N*,4`)BN;N/&N M@0-A[R1@KRI*\=K,Z6_ERO$[S,JD0H'CD&^0JI\MR"0I(Z7%>7>.],DMIO&- MG8Z7)M*N=8. MF0W$AN=[Q*YMY%ADD3.^-)BOENZ[7RBL6&Q\@;&QM8K@[G61K/Q!TNQ;3-:B MM]*O)&BG.F3I'+-]FE0R-*RB,0!7=!@EGD92`J+ND[W%%P$Q1BEQ1B@0F*YN MX\:Z!`V'O)&"O*DKQVLSI;^7*\3O,RJ1"@>.0;Y"JGRW()"DCI<5Y=X[TR2V MF\8V=CI=R?\`A(-!6PL19VCO')=E[PN)&12L66N8V+R%5)=CGAB"XT=M;>)M M*N=8.F0W$AN=[Q*YMY%ADD3.^-)BOENZ[7RBL6&Q\@;&QM8KB+NX.I_$+1Y+ M%-6F%B\T%S#=Z?+#:0+Y<@-S%(\:AYBXCC!5V_=R2;5PS-7<8HN`F*,4N*,4 M"$Q7-W'C70(&P]Y(P5Y4E>.UF=+?RY7B=YF52(4#QR#?(54^6Y!(4D=+BO+O M'>F26TWC&SL=+N3_`,)!H*V%B+.T=XY+LO>%Q(R*5BRUS&Q>0JI+L<\,07&C MT&^U?3[#4M-T^[NXHK[4G>.T@)R\Q1"[X`[!5))/`R!G)`-_%>7ZCI'BA?B# MHNIW.EZ=\D8*\J2O':S.EOY&(+C M1WG]NV!US^R(VN9;P<.8K662*([=^V255,<;;<':S`X9>/F7.IBN-1(KSQQ# M=:!87-G/%,ZZU=RV4ELEW$L3I&FYU`G82"-E==P5$<;U#A9.SQ17 M>.],DMIO&-G8Z7 M@S:M9Q:Q!I9>1[Z9#)LBA>01KSAI&4%8PVU@I7^&+'4;+QA M@'6CJ,VL7T^IF=)!:?8&$WV?:Y40R-_QYX(+3*OR9"(47U'%%P8F*,4N*,4" M$Q7-W'C70(&P]Y(P5Y4E>.UF=+?RY7B=YF52(4#QR#?(54^6Y!(4D=+BO+O' M>F26TWC&SL=+N3_PD&@K86(L[1WCDNR]X7$C(I6++7,;%Y"JDNQSPQ!<:.Q3 MQ;H[ZY#I*37+74TSV\;BSF-N\J*S/&L^SRBRB.3(#9!1@>016_BN]^( M%A(T,GV'3+"60M*I\MYYW58VC/0NB13ACP56=0,AVQTF*+@)BC%+BC%`A,5@ M:AXMT>QN+BWDFN9KJ"8P26]K9S7,H81QR$[(T9BH6:++@;09%!()`KH,5QGB M!(M%\;:9KK6%R;-K.\@N9;&RDN)&GD:T\LND2LYRENPWD8`102,J"7&::^+M M#>^@M8K[SO/\L)<0Q226P,@!C5IU4Q*SAD*JS`MYB8!WKG?Q7C7AC2M1TI_# M>G7VC7*75K#ID4MBL,DEM=&.!%>[EG3,"RPG.U6.6^S+]XM;M%[-BA,&A,48 MI<48H$)BL#4/%NCV-Q<6\DUS-=03&"2WM;.:YE#"..0G9&C,5"S19<#:#(H) M!(%=!BN,\0)%HOC;3-=:PN39M9WD%S+8V4EQ(T\C6GEETB5G.4MV&\C`"*"1 ME02XS37Q=H;WT%K%?>=Y_EA+B&*22V!D`,:M.JF)6<,A568%O,3`.]<[^*\: M\+^%-;BL]$T&W;[+!%_95]KBW=@Y\J>UAML1V]P'5)-QMHU(57"XE+.#L0^S M8H3!H3%&*7%&*!"8K%O/$^C64DD=W?Q0R1W\.EE7#`M=2JC1Q*,?,2LJ'C(` MR21M;&WBN,^)*16>@1RV]AD3.+>1H8Y'QLC>8+Y:.VY,(S!CO3`.]<[6*\TU MBUN_[8UO3%L;UKG4?$6FZG;.EM(T+6\/V+S&:8#RT(^S3?*S!CM&`=RY],Q1 M<+"8HQ2XHQ0(3%8MYXGT:RDDCN[^*&2._ATLJX8%KJ54:.)1CYB5E0\9`&22 M-K8V\5QGQ)2*ST".6WL+F66?6-.N)A8V4D\C^5RJO7:*+ MC.C;5]/77H]%-W%_:LELUX+8'+B%65"Y]!N8`9Z\XSM.+^*Y+4Y2/BIH"BVO M6C&E7T;3I:2M"C22VS(K2A=BDB"3@D=!_>7/78HN`F*,4N*,4"$Q7QI^V9_R M5#2_^P/%_P"CYZ^S,5\9_MF?\E0TO_L#Q?\`H^>IEL5'<^I/A5_R2_P?_P!@ M:S_]$)74U\2>'_VD/%^A:#INDVFG:`]M86T5K$TL$QHN%C[,HKXS_X:E\;?]`OPY_X#S_\`QZC_`(:E\;?]`OPY_P"` M\_\`\>HN%C[,HKXS_P"&I?&W_0+\.?\`@//_`/'J/^&I?&W_`$"_#G_@//\` M_'J+A8^S**^,_P#AJ7QM_P!`OPY_X#S_`/QZC_AJ7QM_T"_#G_@//_\`'J+A M8^S**^,_^&I?&W_0+\.?^`\__P`>H_X:E\;?]`OPY_X#S_\`QZBX6/LRBOC/ M_AJ7QM_T"_#G_@//_P#'J/\`AJ7QM_T"_#G_`(#S_P#QZBX6/LRBOC/_`(:E M\;?]`OPY_P"`\_\`\>H_X:E\;?\`0+\.?^`\_P#\>HN%C[,HKXS_`.&I?&W_ M`$"_#G_@//\`_'J/^&I?&W_0+\.?^`\__P`>HN%C[,HKXS_X:E\;?]`OPY_X M#S__`!ZC_AJ7QM_T"_#G_@//_P#'J+A8^S**^,_^&I?&W_0+\.?^`\__`,>H M_P"&I?&W_0+\.?\`@//_`/'J+A8^S**^,_\`AJ7QM_T"_#G_`(#S_P#QZC_A MJ7QM_P!`OPY_X#S_`/QZBX6/LRBOC/\`X:E\;?\`0+\.?^`\_P#\>H_X:E\; M?]`OPY_X#S__`!ZBX6/LRBOC/_AJ7QM_T"_#G_@//_\`'J/^&I?&W_0+\.?^ M`\__`,>HN%C[,HKXS_X:E\;?]`OPY_X#S_\`QZC_`(:E\;?]`OPY_P"`\_\` M\>HN%C[,HKXS_P"&I?&W_0+\.?\`@//_`/'J/^&I?&W_`$"_#G_@//\`_'J+ MA8^S**^,_P#AJ7QM_P!`OPY_X#S_`/QZC_AJ7QM_T"_#G_@//_\`'J+A8^S* M*^,_^&I?&W_0+\.?^`\__P`>H_X:E\;?]`OPY_X#S_\`QZBX6/LRBOC/_AJ7 MQM_T"_#G_@//_P#'J/\`AJ7QM_T"_#G_`(#S_P#QZBX6/LRBOC/_`(:E\;?] M`OPY_P"`\_\`\>H_X:E\;?\`0+\.?^`\_P#\>HN%C[,HKXS_`.&I?&W_`$"_ M#G_@//\`_'J/^&I?&W_0+\.?^`\__P`>HN%C[,HKXS_X:E\;?]`OPY_X#S__ M`!ZC_AJ7QM_T"_#G_@//_P#'J+A8^S**^,_^&I?&W_0+\.?^`\__`,>H_P"& MI?&W_0+\.?\`@//_`/'J+A8^S**^,_\`AJ7QM_T"_#G_`(#S_P#QZC_AJ7QM M_P!`OPY_X#S_`/QZBX6/LRBOC/\`X:E\;?\`0+\.?^`\_P#\>H_X:E\;?]`O MPY_X#S__`!ZBX6/LRBOC/_AJ7QM_T"_#G_@//_\`'J/^&I?&W_0+\.?^`\__ M`,>HN%C[,HKXS_X:E\;?]`OPY_X#S_\`QZC_`(:E\;?]`OPY_P"`\_\`\>HN M%C[,HKXS_P"&I?&W_0+\.?\`@//_`/'J/^&I?&W_`$"_#G_@//\`_'J+A8^S M**^,_P#AJ7QM_P!`OPY_X#S_`/QZC_AJ7QM_T"_#G_@//_\`'J+A8^S**^,_ M^&I?&W_0+\.?^`\__P`>H_X:E\;?]`OPY_X#S_\`QZBX6/LRBOC/_AJ7QM_T M"_#G_@//_P#'J/\`AJ7QM_T"_#G_`(#S_P#QZBX6/LRBOC/_`(:E\;?]`OPY M_P"`\_\`\>H_X:E\;?\`0+\.?^`\_P#\>HN%C[,KXS_;-_Y*AI?_`&!HO_1\ M]'_#4OC;_H%^'/\`P'G_`/CU>9?$WQ]JGQ%UZ#5M;@LH+F&V6U5;1&5"@9V! /(9F._I4R>A45J?__9 ` end XML 19 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Service | BLACKROCK MANAGED VOLATILITY PORTFOLIO
Fund Overview
Investment Objective
The investment objective of BlackRock Managed Volatility Portfolio, formerly BlackRock Asset Allocation Portfolio, (“Managed Volatility Portfolio” or the “Fund”), a series of BlackRock FundsSM (the “Trust”), is to seek total return.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of Managed Volatility Portfolio.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Service
BLACKROCK MANAGED VOLATILITY PORTFOLIO
Service Shares
Management Fee [1][2] 0.55%
Distribution and/or Service (12b-1) Fees 0.25%
Other Expenses 0.40%
Interest Expense 0.01%
Miscellaneous Other Expenses [1] 0.39%
Acquired Fund Fees and Expenses [1][3] 0.18%
Total Annual Fund Operating Expenses [1][3] 1.38%
Fee Waivers and/or Expense Reimbursements [2] (0.05%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements [2] 1.33%
[1] Miscellaneous Other Expenses and Acquired Fund Fees and Expenses have been restated to reflect current fees. The Management Fee payable by the Fund is based on assets estimated to be attributable to the Fund's direct investments in fixed-income and equity securities and instruments, including exchange-traded funds ("ETFs") advised by BlackRock Advisors, LLC ("BlackRock") or other investment advisers, other investments and cash and cash equivalents (including money market funds). BlackRock has contractually agreed to waive the Management Fee on assets estimated to be attributed to the Fund's investments in other equity, fixed-income and money market mutual funds managed by BlackRock or its affiliates (the "mutual funds").
[2] As described in the "Management of the Fund" section of the Fund's prospectus on pages 69-73, BlackRock Advisors, LLC ("BlackRock") has contractually agreed to waive 0.05% of its Management Fee until June 1, 2013. In addition, 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 1.17% of average daily net assets until June 1, 2013. The Fund may have to repay some of these waivers and reimbursements to BlackRock in the following two years. The agreement may be terminated upon 90 days' notice by a majority of the non-interested trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund.
[3] The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets given in the Fund's most recent annual report which does not include the Acquired Fund Fees and Expenses or the restatement of Miscellaneous Other Expenses or Acquired Fund Fees and Expenses.
Example:
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example (USD $)
1 Year
3 Years
5 Years
10 Years
Service BLACKROCK MANAGED VOLATILITY PORTFOLIO Service Shares
135 432 750 1,653
Portfolio Turnover:
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 401% of the average value of its portfolio.
Principal Investment Strategies of the Fund
Managed Volatility Portfolio uses an asset allocation strategy, investing varying percentages of its portfolio in three major categories: stocks, bonds and money market instruments. The Fund has wide flexibility in the relative weightings given to each category.

The Fund may also invest a significant portion of its assets in affiliated and unaffiliated ETFs and mutual funds. See “Information About the ETFs and Mutual Funds.”

With respect to its equity investments, the Fund may invest in ETFs, mutual funds or individual equity securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts. The Fund, the ETFs and the mutual funds may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund, the ETFs and the mutual funds may invest in securities of companies of any market capitalization.

With respect to its fixed-income investments, the Fund may invest in ETFs, mutual funds or individual fixed-income securities to an unlimited extent. The Fund, the ETFs and the mutual funds may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations, asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S. governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund, the ETFs and the mutual funds may also invest a significant portion of their assets in non-investment grade bonds (junk bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund, the ETFs and the mutual funds may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis.

With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements. The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates.

The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, indexed and inverse floating rate securities, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S. currencies. The ETFs and the mutual funds may, to varying degrees, also invest in derivatives.

The Fund may invest in U.S. and non-U.S. real estate investment trusts (“REITs”), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).

The Fund incorporates a volatility control process that seeks to reduce risk when portfolio volatility is expected to deviate from the Fund’s targeted total return volatility of 10% over a one-year period. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index over time. Volatility may result in rapid and dramatic price swings. While BlackRock attempts to manage the Fund’s volatility exposure to stabilize performance, there can be no guarantee that the Fund will reach its target volatility. The Fund will adjust its asset allocation in response to periods of high or low expected volatility. The Fund may without limitation allocate assets into cash or short-term fixed-income securities, and away from riskier assets such as equity and high yield fixed-income securities. When volatility decreases, the Fund may move assets out of cash and back into riskier securities. At any given time, the Fund may be invested entirely in equities, fixed-income or cash. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
Investment Risks
Risk is inherent in all investing. The value of your investment in Managed Volatility Portfolio, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The principal risks set forth below are the principal risks of investing in the Fund, the ETFs and/or the mutual funds. In the following discussion, references to the “Fund” shall mean any one or more of the relevant ETFs or mutual funds and the Fund, where applicable.

Principal Risks of the Fund’s Fund of Funds Structure
  • Affiliated Fund Risk — In managing the Fund, BlackRock will have authority to select and substitute ETFs or mutual funds. BlackRock may be subject to potential conflicts of interest in selecting ETFs or mutual funds because the fees paid to BlackRock by some ETFs or mutual funds are higher than the fees paid by other ETFs or mutual funds. However, BlackRock is a fiduciary to the Fund and is legally obligated to act in the Fund’s best interests when selecting ETFs and mutual funds.
  • Allocation Risk — The Fund’s ability to achieve its investment objective depends upon BlackRock’s skill in determining the Fund’s strategic asset class allocation and in selecting the best mix of ETFs, mutual funds and direct investments. There is a risk that BlackRock’s evaluations and assumptions regarding asset classes or ETFs or mutual funds may be incorrect in view of actual market conditions.
  • Investments in ETFs and Other Mutual Funds Risk — The Fund’s net asset value will change with changes in the value of the ETFs, mutual funds and other securities in which it invests. As with other investments, investments in other investment companies, including ETFs, are subject to market risk and, for non-index strategies, selection risk. In addition, if the Fund acquires shares of investment companies, including ETFs, shareholders bear both their proportionate share of expenses in the Fund (including management and advisory fees) and, indirectly, the expenses of the investment companies. If the Fund acquires shares of affiliated mutual funds, shareholders bear both their proportionate share of expenses in the Fund (excluding management and advisory fees) and, indirectly, the expenses of the mutual funds. To the extent the Fund is held by an affiliated fund, the ability of the Fund itself to hold other investment companies may be limited.

    One ETF or mutual fund may buy the same securities that another ETF or mutual fund sells. In addition, the Fund may buy the same securities that an ETF or mutual fund sells, or vice-versa. If this happens, an investor in the Fund would indirectly bear the costs of these transactions without accomplishing the intended investment purpose. Also, an investor in the Fund may receive taxable gains from portfolio transactions by an ETF or mutual fund, as well as taxable gains from transactions in shares of the ETF or mutual fund by the Fund. Certain of the ETFs or mutual funds may hold common portfolio securities, thereby reducing the diversification benefits of the Fund.
Principal ETF-Specific Risks
  • Cash Transaction Risk — Certain ETFs intend to effect creations and redemptions principally for cash, rather than primarily in-kind because of the nature of the ETF’s investments. Investments in such ETFs may be less tax efficient than investments in ETFs that effect creations and redemptions in-kind.
  • Management Risk — If an ETF does not fully replicate the underlying index, it is subject to the risk that the manager’s investment management strategy may not produce the intended results.
  • Passive Investment Risk — ETFs purchased by the Fund are not actively managed and may be affected by a general decline in market segments relating to their respective indices. An ETF typically invests in securities included in, or representative of, its index regardless of their investment merits and does not attempt to take defensive positions in declining markets.
  • Representative Sampling Risk — When an ETF deviates from a full replication indexing strategy to utilize a representative sampling strategy, the ETF is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the ETF may not have an investment profile similar to those of its index.
  • Shares of an ETF May Trade at Prices Other Than Net Asset Value — The trading prices of an ETF’s shares fluctuate continuously throughout trading hours based on market supply and demand rather than net asset value. The trading prices of an ETF’s shares may deviate significantly from net asset value during periods of market volatility. Any of these factors may lead to an ETF’s shares trading at a premium or discount to net asset value. However, because shares can be created and redeemed in Creation Units, which are aggregated blocks of shares that authorized participants who have entered into agreements with the ETF’s distributor can purchase or redeem directly from the ETF, at net asset value, large discounts or premiums to the net asset value of an ETF are not likely to be sustained over the long term. If a shareholder purchases at a time when the market price is at a premium to the net asset value or sells at a time when the market price is at a discount to the net asset value, the shareholder may sustain losses.
  • Tracking Error Risk — Imperfect correlation between an ETF’s portfolio securities and those in its index, rounding of prices, the timing of cash flows, the ETF’s size, changes to the index and regulatory requirements may cause tracking error, which is the divergence of an ETF’s performance from that of its underlying index. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because an ETF incurs fees and expenses while its underlying index does not.
Other Principal Risks of Investing in the Fund
  • Collateralized Debt Obligations Risk — The pool of high yield securities underlying collateralized debt obligations is typically separated into groupings called tranches representing different degrees of credit quality. The higher quality tranches have greater degrees of protection and pay lower interest rates. The lower tranches, with greater risk, pay higher interest rates.
  • Concentration Risk — To the extent that the Fund’s portfolio reflects concentration in the securities of issuers in a particular region, market, industry, group of industries, country, group of countries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that region, market, industry, group of industries, country, group of countries, sector or asset class.
  • Convertible Securities Risk — 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.
  • Corporate Loans Risk — 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.
  • Counterparty Risk — 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.
  • Credit Risk — 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. The degree of credit risk depends on the issuer’s financial condition and on the terms of the securities.
  • Debt Securities Risk — Debt securities, such as bonds, involve credit risk. Debt securities are also subject to interest rate risk.
  • Derivatives Risk — The Fund’s use of derivatives may reduce the Fund’s returns and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. A risk of the Fund’s use of derivatives is that the fluctuations in their values may not correlate perfectly with the overall securities markets. The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more difficult for the Fund to value accurately. Derivatives may give rise to a form of leverage and may expose the Fund to greater risk and increase its costs. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation is not yet known and may not be known for some time. New regulation may make derivatives more costly, may limit the availability of derivatives, or may otherwise adversely affect the value or performance of derivatives.
  • Distressed Securities Risk — 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.
  • Dollar Rolls Risk — Dollar rolls involve the risk that the market value of the securities that the Fund is committed to buy may decline below the price of the securities the Fund has sold. These transactions may involve leverage.
  • Emerging Markets Risk — Emerging markets are riskier than more developed markets because they tend to develop unevenly and may never fully develop. Investments in emerging markets may be considered speculative. Emerging markets are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, many emerging securities markets have far lower trading volumes and less liquidity than developed markets.
  • Equity Securities Risk — Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Extension Risk — 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.
  • Foreign Securities Risk — Foreign investments often involve special risks not present in U.S. investments that can increase the chances that the Fund will lose money. These risks include:

The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory oversight.


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


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


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


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


Settlement and clearance procedures in certain foreign markets may result in delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments.

  • High Portfolio Turnover Risk — High portfolio turnover (more than 100%) may result in increased transaction costs to the Fund and potentially higher capital gains or losses for shareholders. The effects of higher than normal portfolio turnover may adversely affect Fund performance.
  • Indexed and Inverse Securities Risk — Certain indexed and inverse securities have greater sensitivity to changes in interest rates or index levels than other securities, and the Fund’s investment in such instruments may decline significantly in value if interest rates or index levels move in a way Fund management does not anticipate.
  • Inflation Indexed Bonds Risk — The principal value of an investment is not protected or otherwise guaranteed by virtue of the Fund’s investments in inflation-indexed bonds.

    Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced.

    Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value.

    The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Short-term increases in inflation may lead to a decline in value. Any increase in the principal amount of an inflation-indexed bond will be considered taxable ordinary income, even though investors do not receive their principal until maturity.

    Periodic adjustments for inflation to the principal amount of an inflation-indexed bond may give rise to original issue discount, which will be includable in the Fund’s gross income. Due to original issue discount, the Fund may be required to make annual distributions to shareholders that exceed the cash received, which may cause the Fund to liquidate certain investments when it is not advantageous to do so. Also, if the principal value of an inflation-indexed bond is adjusted downward due to deflation, amounts previously distributed in the taxable year may be characterized in some circumstances as a return of capital.
  • Interest Rate Risk — 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. In general, the market price of debt securities with longer maturities will go up or down more in response to changes in interest rates than the market price of shorter term securities.
  • Investment Style Risk — Under certain market conditions, growth investments have performed better during the later stages of economic expansion and value investments have performed better during periods of economic recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other funds that use different investment styles.
  • Junk Bonds Risk — 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.
  • Leverage Risk — Some transactions may give rise to a form of economic leverage. These transactions may include, among others, derivatives, and may expose the Fund to greater risk and increase its costs. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet any required asset segregation requirements. Increases and decreases in the value of the Fund’s portfolio will be magnified when the Fund uses leverage.
  • Liquidity Risk — 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 Fund, due to limitations on illiquid investments, may be subject to purchase and sale restrictions.
  • Market Risk and Selection Risk — Market risk is the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
  • Mid-Cap Securities Risk — The securities of mid-cap companies generally trade in lower volumes and are generally subject to greater and less predictable price changes than the securities of larger capitalization companies.
  • Mortgage- and Asset-Backed Securities Risks — Mortgage- and asset-backed securities represent interests in “pools” of mortgages or other assets, including consumer loans or receivables held in trust. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risks. These securities also are subject to risk of default on the underlying mortgage or asset, particularly during periods of economic downturn. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities.
  • Municipal Securities Risks — Municipal securities risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers of municipal securities, and the possibility of future legislative changes which could affect the market for and value of municipal securities. These risks include:
General Obligation Bonds Risks — Timely payments depend on the issuer’s credit quality, ability to raise tax revenues and ability to maintain an adequate tax base.
Revenue Bonds Risks — These payments depend on the money earned by the particular facility or class of facilities, or the amount of revenues derived from another source.
Private Activity Bonds Risks — Municipalities and other public authorities issue private activity bonds to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its faith, credit and taxing power for repayment.
Moral Obligation Bonds Risks — Moral obligation bonds are generally issued by special purpose public authorities of a state or municipality. If the issuer is unable to meet its obligations, repayment of these bonds becomes a moral commitment, but not a legal obligation, of the state or municipality.
Municipal Notes Risks — Municipal notes are shorter term municipal debt obligations. If there is a shortfall in the anticipated proceeds, the notes may not be fully repaid and the Fund may lose money.
Municipal Lease Obligations Risks — In a municipal lease obligation, the issuer agrees to make payments when due on the lease obligation. Although the issuer does not pledge its unlimited taxing power for payment of the lease obligation, the lease obligation is secured by the leased property.
  • Preferred Securities Risk — 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.
  • Prepayment Risk — 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.
  • Real Estate Related Securities Risks — The main risk of real estate related securities is that the value of the underlying real estate may go down. Many factors may affect real estate values. These factors include both the general and local economies, the amount of new construction in a particular area, the laws and regulations (including zoning and tax laws) affecting real estate and the costs of owning, maintaining and improving real estate. The availability of mortgages and changes in interest rates may also affect real estate values. If the Fund’s real estate related investments are concentrated in one geographic area or in one property type, the Fund will be particularly subject to the risks associated with that area or property type.
  • REIT Investment Risk — Investments in REITs involve unique risks. REITs may have limited financial resources, may trade less frequently and in limited volume and may be more volatile than other securities.
  • Repurchase Agreements and Purchase and Sale Contracts Risks — If the other party to a repurchase agreement or purchase and sale contract defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. If the seller fails to repurchase the security in either situation and the market value of the security declines, the Fund may lose money.
  • Reverse Repurchase Agreements Risk — Reverse repurchase agreements involve the risk that the other party to the reverse repurchase agreement may fail to return the securities in a timely manner or at all. The Fund could lose money if it is unable to recover the securities and the value of the collateral held by the Fund, including the value of the investments made with cash collateral, is less than the value of securities. These events could also trigger adverse tax consequences to the Fund.
  • Risks of Loan Assignments and Participations — As the purchaser of an assignment, the Fund typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation; however, the Fund may not be able unilaterally to enforce all rights and remedies under the loan and with regard to any associated collateral. Because assignments may be arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. In addition, if the loan is foreclosed, the Fund could become part owner of any collateral and could bear the costs and liabilities of owning and disposing of the collateral. The Fund may be required to pass along to a purchaser that buys a loan from the Fund by way of assignment a portion of any fees to which the Fund is entitled under the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower, and the Fund may not directly benefit from any collateral supporting the loan in which it has purchased the participation. As a result, the Fund will be subject to the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.
  • Second Lien Loans Risk — 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.
  • Senior Loans Risk —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.
  • Small Cap and Emerging Growth Securities Risks — Small cap or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a more limited management group than larger capitalized companies.
  • Sovereign Debt Risk — Sovereign debt instruments are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies.
  • Structured Products Risk — 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.
  • Supranational Entities Risk — The Fund may invest in obligations issued or guaranteed by the International Bank for Reconstruction and Development (the World Bank). If one or more stockholders of the World Bank fail to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities, and the Fund may lose money on such investments.
  • Tender Option Bonds and Related Securities Risk — Investments in tender option bonds, residual interest tender option bonds and inverse floaters expose the Fund to the same risks as investments in derivatives, as well as risks associated with leverage, described above, especially the risk of increased volatility. An investment in these securities may be subject to the risk of loss of principal. Residual interest tender option bonds and inverse floaters generally will underperform the market for fixed rate municipal securities in a rising interest rate environment.
  • U.S. Government Mortgage-Related Securities Risk — There are a number of important differences among the agencies and instrumentalities of the U.S. Government that issue mortgage-related securities and among the securities that they issue. Mortgage-related securities guaranteed by the Government National Mortgage Association (“Ginnie Mae”) are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. Ginnie Mae securities also are supported by the right of Ginnie Mae to borrow funds from the U.S. Treasury to make payments under its guarantee. Mortgage-related securities issued by The Federal National Mortgage Association (“Fannie Mae”) or The Federal Home Loan Mortgage Corporation (“Freddie Mac”) are solely the obligations of Fannie Mae or Freddie Mac, as the case may be, and are not backed by or entitled to the full faith and credit of the United States but are supported by the right of the issuer to borrow from the U.S. Treasury.
  • U.S. Government Obligations Risk — Certain securities in which the Fund may invest, including securities issued by certain U.S. Government agencies and U.S. Government sponsored enterprises, are not guaranteed by the U.S. Government or supported by the full faith and credit of the United States.
  • Variable and Floating Rate Instrument Risk — The absence of an active market for these securities could make it difficult for the Fund to dispose of them if the issuer defaults.
  • Warrants Risk — If the price of the underlying stock does not rise above the exercise price before the warrant expires, the warrant generally expires without any value and the Fund loses any amount it paid for the warrant. Thus, investments in warrants may involve substantially more risk than investments in common stock.
  • Zero Coupon Securities Risk — While interest payments are not made on such securities, holders of such securities are deemed to have received income (“phantom income”) annually, notwithstanding that cash may not be received currently. Some of these securities may be subject to substantially greater price fluctuations during periods of changing market interest rates than are comparable securities that pay interest currently. Longer term zero coupon bonds are more exposed to interest rate risk than shorter term zero coupon bonds.
Performance Information
Effective May 15, 2012, Managed Volatility Portfolio changed its investment strategy to invest a significant portion of its assets in ETFs and, to a lesser extent, in mutual funds and directly in securities. Performance for the periods shown below is based on the investment strategy utilized by the Fund prior to May 15, 2012, which focused on investing directly in securities.

On January 31, 2005, the Fund reorganized with the State Street Research Asset Allocation Fund (the “SSR Fund”), which had investment objectives and strategies similar to the Fund. For periods prior to January 31, 2005, the chart and table show performance information for the SSR Fund. The information shows you how the Fund’s performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Fund’s performance to that of the Standard & Poor’s (“S&P”) 500® Index, the Barclays U.S. Aggregate Bond Index, the MSCI All Country World Index (the “MSCI ACWI Index”), the Citigroup World Government Bond Index (hedged into USD) (the “Citigroup WGBI (hedged into USD)”) and three customized weighted indices comprised of the returns of the S&P 500® Index, the MSCI ACWI Index, the Barclays U.S. Aggregate Bond Index and the Citigroup WGBI (hedged into USD) in the percentages and combinations set forth in the table. Effective October 1, 2011, the Fund changed one of the components making up the customized weighted index from the S&P 500® Index to the MSCI ACWI Index. Fund management believes that the MSCI ACWI Index better reflects the Fund’s increasing exposure to non-U.S. equities. Effective May 15, 2012, the Fund changed one of the components making up the customized weighted index from the Barclays U.S. Aggregate Bond Index to the Citigroup WGBI (hedged into USD). Fund management believes that the Citigroup WGBI (hedged into USD) better reflects the Fund’s increasing global exposure. As with all such investments, past performance (before and after taxes) is not an indication of future results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the Fund’s returns would have been lower. Updated information on the Fund’s results can be obtained by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052.
Service Shares
ANNUAL TOTAL RETURNS1
BlackRock Managed Volatility Portfolio
As of 12/31
Bar Chart
[1] A portion of the Fund's total return was attributable to proceeds received in the fiscal year ended September 30, 2009 in settlement of litigation.
During the ten-year period shown in the bar chart, the highest return for a quarter was 13.78% (quarter ended September 30, 2009) and the lowest return for a quarter was –13.12% (quarter ended December 31, 2008). The year-to-date return as of September 30, 2012 was 9.13%.
As of 12/31/11
Average Annual Total Returns
Average Annual Total Returns Service BLACKROCK MANAGED VOLATILITY PORTFOLIO
1 Year
5 Years
10 Years
Service Shares
(3.49%) 2.16% [1] 4.35% [1]
Service Shares Return After Taxes on Distributions
(4.03%) 1.39% [1] 3.44% [1]
Service Shares Return After Taxes on Distributions and Sale of Shares
(1.66%) 1.67% [1] 3.46% [1]
S&P 500 Index (Reflects no deduction for fees, expenses or taxes)
2.11% (0.25%) [1] 2.92% [1]
Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
7.84% 6.50% [1] 5.78% [1]
MSCI ACWI Index (Reflects no deduction for fees, expenses or taxes)
(7.35%) (1.93%) [1] 4.24% [1]
Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
5.49% 4.92% [1] 4.75% [1]
60% S&P 500 Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
4.69% 2.84% [1] 4.40% [1]
60% MSCI ACWI Index/40% Barclays U.S. Aggregate Bond Index (Reflects no deduction for fees, expenses or taxes)
(1.14%) 1.91% [1] 5.27% [1]
60% MSCI ACWI Index/40% Citigroup WGBI (hedged into USD) (Reflects no deduction for fees, expenses or taxes)
(1.96%) 1.38% [1] 4.89% [1]
[1] A portion of the Fund's total return was attributable to proceeds received in the fiscal year ended September 30, 2009 in settlement of litigation.
After-tax returns are calculated using the historical highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
GRAPHIC 20 BarChart2.jpg IDEA: XBRL DOCUMENT begin 644 BarChart2.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``8$!08%!`8&!08'!P8("A`*"@D) M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_ MVP!#`0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P``1"`$L`AP#`2(``A$!`Q$!_\0` M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4% M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D* M%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$! M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$" M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#I_`/@WPQ= M>!/#EQ<^'-%FGETVVDDDDL8F9V,2DL25R23SFM[_`(07PG_T*^A?^"^'_P") MI?AQ_P`D\\+_`/8*M?\`T2M:/B&RN]1T>XM-.OOL%S+M`GV%\+N!885E8;E! M7*LK#.000#7%_[-B7T30?$'A[Q7=ZK-80:A9#S+>"VTJ".V(5X;)0ZK)-M$8^S%-NX,",@%6^ M7N/"6FS:/X5T;3+EHVGLK*&VD:,DJ61`I()`.,CT%**[HJ3LM&4?^$%\)_\` M0KZ%_P""^'_XFC_A!?"?_0KZ%_X+X?\`XFKVK:5>7UPLEMKVIZ<@0*8K6.W9 M2]LH;F18X+(*&=`Q`S;DXR M?4T].Q*O:]S5_P"$%\)_]"OH7_@OA_\`B:/^$%\)_P#0KZ%_X+X?_B:7_A'M M3_Z&_7O^_-E_\CT?\(]J?_0WZ]_WYLO_`)'HLNP7?\WYB?\`""^$_P#H5]"_ M\%\/_P`31_P@OA/_`*%?0O\`P7P__$UE>$K#6-8\*Z-J=SXMUI9[VRAN9%C@ ML@H9T#$#-N3C)]36M_PCVI_]#?KW_?FR_P#D>C3L#NM.;\Q/^$%\)_\`0KZ% M_P""^'_XFC_A!?"?_0KZ%_X+X?\`XFE_X1[4_P#H;]>_[\V7_P`CT?\`"/:G M_P!#?KW_`'YLO_D>BR[!=_S?F)_P@OA/_H5]"_\`!?#_`/$T?\(+X3_Z%?0O M_!?#_P#$TO\`PCVI_P#0WZ]_WYLO_D>C_A'M3_Z&_7O^_-E_\CT678+O^;\Q M/^$%\)_]"OH7_@OA_P#B:/\`A!?"?_0KZ%_X+X?_`(FLKPE8:QK'A71M3N?% MNM+/>V4-S(L<%D%#.@8@9MR<9/J:UO\`A'M3_P"AOU[_`+\V7_R/1IV!W6G- M^8G_``@OA/\`Z%?0O_!?#_\`$T?\(+X3_P"A7T+_`,%\/_Q-+_PCVI_]#?KW M_?FR_P#D>C_A'M3_`.AOU[_OS9?_`"/19=@N_P";\Q/^$%\)_P#0KZ%_X+X? M_B:/^$%\)_\`0KZ%_P""^'_XFE_X1[4_^AOU[_OS9?\`R/1_PCVI_P#0WZ]_ MWYLO_D>BR[!=_P`WYB?\(+X3_P"A7T+_`,%\/_Q-'_""^$_^A7T+_P`%\/\` M\365X2L-8UCPKHVIW/BW6EGO;*&YD6."R"AG0,0,VY.,GU-:W_"/:G_T-^O? M]^;+_P"1Z-.P.ZTYOS$_X07PG_T*^A?^"^'_`.)H_P"$%\)_]"OH7_@OA_\` MB:7_`(1[4_\`H;]>_P"_-E_\CT?\(]J?_0WZ]_WYLO\`Y'HLNP7?\WYB?\(+ MX3_Z%?0O_!?#_P#$T?\`""^$_P#H5]"_\%\/_P`32_\`"/:G_P!#?KW_`'YL MO_D>C_A'M3_Z&_7O^_-E_P#(]%EV"[_F_,3_`(07PG_T*^A?^"^'_P")H_X0 M7PG_`-"OH7_@OA_^)K*\)6&L:QX5T;4[GQ;K2SWME#C_`(1[4_\`H;]>_P"_-E_\ MCT678+O^;\Q/^$%\)_\`0KZ%_P""^'_XFC_A!?"?_0KZ%_X+X?\`XFE_X1[4 M_P#H;]>_[\V7_P`CT?\`"/:G_P!#?KW_`'YLO_D>BR[!=_S?F)_P@OA/_H5] M"_\`!?#_`/$T?\(+X3_Z%?0O_!?#_P#$UE>$K#6-8\*Z-J=SXMUI9[VRAN9% MC@L@H9T#$#-N3C)]36M_PCVI_P#0WZ]_WYLO_D>C3L#NM.;\Q/\`A!?"?_0K MZ%_X+X?_`(FC_A!?"?\`T*^A?^"^'_XFE_X1[4_^AOU[_OS9?_(]'_"/:G_T M-^O?]^;+_P"1Z++L%W_-^8G_``@OA/\`Z%?0O_!?#_\`$T?\(+X3_P"A7T+_ M`,%\/_Q-+_PCVI_]#?KW_?FR_P#D>C_A'M3_`.AOU[_OS9?_`"/19=@N_P"; M\Q/^$%\)_P#0KZ%_X+X?_B:/^$%\)_\`0KZ%_P""^'_XFLKPE8:QK'A71M3N M?%NM+/>V4-S(L<%D%#.@8@9MR<9/J:UO^$>U/_H;]>_[\V7_`,CT:=@=UIS? MF)_P@OA/_H5]"_\`!?#_`/$T?\(+X3_Z%?0O_!?#_P#$TO\`PCVI_P#0WZ]_ MWYLO_D>C_A'M3_Z&_7O^_-E_\CT678+O^;\Q/^$%\)_]"OH7_@OA_P#B:/\` MA!?"?_0KZ%_X+X?_`(FE_P"$>U/_`*&_7O\`OS9?_(]'_"/:G_T-^O?]^;+_ M`.1Z++L%W_-^8G_""^$_^A7T+_P7P_\`Q-'_``@OA/\`Z%?0O_!?#_\`$UE> M$K#6-8\*Z-J=SXMUI9[VRAN9%C@L@H9T#$#-N3C)]36M_P`(]J?_`$-^O?\` M?FR_^1Z-.P.ZTYOS$_X07PG_`-"OH7_@OA_^)H_X07PG_P!"OH7_`(+X?_B: M7_A'M3_Z&_7O^_-E_P#(]'_"/:G_`-#?KW_?FR_^1Z++L%W_`#?F)_P@OA/_ M`*%?0O\`P7P__$T?\(+X3_Z%?0O_``7P_P#Q-+_PCVI_]#?KW_?FR_\`D>C_ M`(1[4_\`H;]>_P"_-E_\CT678+O^;\Q/^$%\)_\`0KZ%_P""^'_XFC_A!?"? M_0KZ%_X+X?\`XFLKPE8:QK'A71M3N?%NM+/>V4-S(L<%D%#.@8@9MR<9/J:U MO^$>U/\`Z&_7O^_-E_\`(]&G8'=:C_A'M3_Z&_7O^_-E_P#( M]%EV"[_F_,3_`(07PG_T*^A?^"^'_P")H_X07PG_`-"OH7_@OA_^)I?^$>U/ M_H;]>_[\V7_R/1_PCVI_]#?KW_?FR_\`D>BR[!=_S?F)_P`(+X3_`.A7T+_P M7P__`!-'_""^$_\`H5]"_P#!?#_\365X9L-8U33IKBX\6ZTKI>W=L`D%D!MB MN)(E/-N>=J`GWSTZ5K?\(]J?_0WZ]_WYLO\`Y'HT[`[K3F_,3_A!?"?_`$*^ MA?\`@OA_^)H_X07PG_T*^A?^"^'_`.)I?^$>U/\`Z&_7O^_-E_\`(]'_``CV MI_\`0WZ]_P!^;+_Y'HLNP7?\WYB?\(+X3_Z%?0O_``7P_P#Q-'_""^$_^A7T M+_P7P_\`Q-+_`,(]J?\`T-^O?]^;+_Y'H_X1[4_^AOU[_OS9?_(]%EV"[_F_ M,3_A!?"?_0KZ%_X+X?\`XFC_`(07PG_T*^A?^"^'_P")K*\,V&L:IITUQ<>+ M=:5TO;NV`2"R`VQ7$D2GFW/.U`3[YZ=*UO\`A'M3_P"AOU[_`+\V7_R/1IV! MW6G-^8G_``@OA/\`Z%?0O_!?#_\`$T?\(+X3_P"A7T+_`,%\/_Q-+_PCVI_] M#?KW_?FR_P#D>I/!-S=76A,U_=27<\5[>6WGR*BLZQ7,L:DA%5<[47H!19=@ MN[7N1?\`""^$_P#H5]"_\%\/_P`37S3^TMI.G:/X[L+?2;"TL8&TV.1H[6%8 ME+&64;B%`&<`#/L*^N:^4_VK?^2AZ=_V"H__`$=-6=9+E-L,VYZL^B_AO_R3 MOPM_V"K7_P!$K71XKGOAO_R3OPM_V"K7_P!$K71XK5;&$MV-Q1BG8HQ3)&XK MG/AO_P`D[\+?]@JU_P#1*UTN*YSX;_\`)._"W_8*M?\`T2M+J5T.AQ1BG8HQ M3)&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*` M&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&X MHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ M3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L M48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`H:U/IUMI=R^MRVD6FE/+G:[95B* MM\NUBW&#G&#USBL#X8?9/^$2']F>1]@_M"_^S_9\>5Y?VR;;LQQMQC&.,5U- MS(T-M+)'#).Z(66*,J&D('W1N(&3TY('J17._#F1IO#4DLD,D#OJ6HLT4A4M M&3>S_*=I(R.G!(]":GJ7]DZ7%?*7[5W_`"433O\`L%1_^CIJ^K\5\H_M7_\` M)1-._P"P5'_Z.FJ*WPFN&^,^C/AM_P`DZ\+?]@JU_P#1*UM:C=?8K.2<03W# M+@+#`FYW8D``=`,DCDD*.K$`$C&^&P_XMUX6_P"P5:_^B5K:U&XEM+.2:"SN M+V1<8M[6'3UXJUL927O&`OB^*206L&D:G-JP=UETU?($T01 M8V9F8R"(C$\)^5R?W@XX;;O:;>V^IZ=:W]E)YMI=1)/"^TKN1@&4X.",@CK7 M!Z+I6JZ+J-OJ<.C7\MA']LB@T[[3%)=PK.;:0M([R[7S+#.Y/FLW[U/<)V'A M'39M'\*:+IETT;W%E90VTC1DE2R1JI()`.,CT%)-CDDEH:M%O\` ML%6O_HE:O:MI5Y?7*R6NO:GIR!`IBM8[9E)R?F/F1.<\XZXX''7-+X;C/PZ\ M+:8K"448X`R?K2XYZT!82BEQUYI,<`9/ MUH"P453U::^@MU.EV:7ER[;0LL_DQJ,$EG;:S`<8&U6.2.`,L.;F\77)M=.- MIIB&ZNKB>UD:YG>.UAEAE\ED,ZQ/@O)Q'N5=_P#LMA"F[#46SL**Q?%FLR:% MIL5Q%;&X:241%Y&9(81@L9)I%1S'&`I!?:0"1G:,L*5]XBOM/U;3K6^T^T1; MIDA")?;YY7.W>T$6S,D49<;G)0A5=MF`NXN"BV=/17*:5XP_M/3@]MIMPNHS M2M%;64K;2^U5+,S8^18]X24X.R17C&]MH?J\<`9/UH3N)Q:W"BEQSUHQUYIA M82BC'`&3]:7'/6@+"44N.O-)C@#)^M`6"BEQSUHQUYH"PE%&.`,GZTN.>M`6 M$HI<=>:3'`&3]:`L%%+CGK1CKS0%A**,<`9/UI<<]:`L)12XZ\TF.`,GZT!8 M**7'/6C'7F@+"448X`R?K2XYZT!82BEQUYI,<`9/UH"P44N.>M&.O-`6$HHQ MP!D_6EQSUH"PE%+CKS28X`R?K0%@HJGK4<+Z7<_:KV2QM53=-.DHB*1CEOG/ MW!M!!8$$`D@J0"/.6N]9FN[?0M$ENV@N;B>Y5+B^*3Q6D<4`,,\KAYHC(\_F M`C,JJT:XCR3$F[%1C<]2HKA]9UJZF\'>&/\`A%OMB3:TUO%:RRR(TT49A:)C&Z.Q)W,&1E+9; M)!()!R6GM`6(KDS+;2M:QQR3A"8TDF.ISGC&5\.(FA\-2QR323NFI:BK2R!0TA%[/\QV@# M)Z\`#T`I=2K>Z=-7RA^UA_R473O^P5'_`.CIJ^L,5\H?M8?\E%T[_L%1_P#H MZ:LZOPFN&^,^C?AL/^+=>%O^P5:_^B5KI,5SOPU'_%N?"O\`V"K7_P!$K728 MK1;&4MV-Q1BG8HQ3$-Q7-_#8?\6Z\+?]@JU_]$K738KF_AJ/^+<^%?\`L%6O M_HE:74?0Z+%&*=BC%,0W%&*=BC%`#<48IV*,4`8_B?3]1U+2FM=(U*/39G=? M,F:%I"8_XD7:Z%2>FX-D`G&#AAB3^&-:N?#W]AW&L:8--FMY+6X6'2C$PBFZG;Z[)(3I>HZ9;IO)Q<:?),=N MU<#*S)SN#G..C*,#:2V3'X5O([/3-(&I0?\`"/Z?]D\J$VA^U-]G,;)NF\S9 MR\:DXC'!(&#\U<7?>$_#BYVZ!I`^EE'_`/$T?#O3+#3OB3"-.LK6TWZ5=;_( MB6/=B:VQG`YZG\Z)TW'<*6(51V1WFJ^&/[4@OVN[OS+RX^2*1HLQ10AU<0>7 MGYHWVJ)1D&49!*J$5-O3;3[#IUK:>?<7/V>)(O.N'WRR;0!N=N['&2>YJWBC M%3H;78W%&*=BC%,0W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV M*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*, M4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`2XE=1]YTQUZ>UA)(J70M7T'Q#K>GZ7-X5DM+BPMVN;!KRW MMF6!8VB4B(H[E""T>,`=!Z5#?]*S_!O_`"4JU_[!5W_Z.M:=2FH;$T,3*I+E M:_/_`#/3HK>&&29XHD1YG\R5E4`R-M"[F/<[549/8`=J+:WAM;:*WM8DAMXD M$<<4:A510,!0!P`!QBI\48K,ZAN*,4[%&*8#<48IV*,4`-Q1BG8HQ0`W%&*= MBC%`#<48IV*,4`9^M3Z=;:51YO#,LLD,D#OJ>HLT4A4M&3>SY4[21D=."1Z$U M/4K[)TV*^3OVL?\`DHNG?]@J/_T=-7UGBODW]K/_`)*-IW_8*C_]'35%7X37 M#_&?1_PU_P"2<^%?^P5:?^B5K;U&Z^Q65;0K,$\WRXXU%N8POF,V%0G<69J['PAIDVC>$]%TNZ:-[ MBRLH+:1HR2I9(U4D$@'&1Z"DFQR26QJUS?PU_P"2<^%?^P5:?^B5J_J^DWE] MFH$"F*UCMF5CD_,?-B:3! MP!D_6N<],**7!S_2@`\T"$HHP<`9/UI<'/\`2@!**4`\TF#@#)^M`PHI<'/] M*`#S0(2BC!P!D_6EP<_TH`2BE`/-)@X`R?K0,**7!S_2@`\T"$HHP<`9/UI< M'/\`2@!**4`\TF#@#)^M`PHI<'/]*`#S0(2BC!P!D_6EP<_TH`2BE`/-)@X` MR?K0,**7!S_2@`\T"$HHP<`9/UI<'/\`2@!**4`\TF#@#)^M`SS/XH_\C=X; M_P"O*^_]&6M,T[M4GQ2_Y&[PW_UY7W_HRUJ/3NU;43SL9\19O^E4/!G_`"4J MU_[!-W_Z.M:OW_2J'@O_`)*5:_\`8)N__1UK55]B<'\:^?Y'JM%*`>:3!P!D M_6N<],**7!S_`$H`/-`A**,'`&3]:7!S_2@!**4`\TF#@#)^M`PHI<'/]*`# MS0(2BC!P!D_6EP<_TH`AN3,MM*UK'')9G&,^;&_3!QC'4YSQC)^&T3P^&98I)I)W34]15I9`H:0B]GRQV@#)Z\`#T M`I=2K>Z=/7R9^UG_`,E&T[_L%1_^CIJ^M,5\F?M:?\E&T[_L$Q_^CIJSJ_": MX?XSZ1^&@_XMQX5_[!-I_P"B5KI,5SGPS_Y)QX4_[!-I_P"B4KI<5:V,Y;L; MBC%.Q1BF2-Q7-_#0?\6X\*_]@FT_]$K738KFOAG_`,DX\*?]@FT_]$I2ZE=# MH\48IV*,4R1N*,4[%&*`&XHQ3L48H`\Q^*/_`"-_AK_KROO_`$9:TS3NU2?% M+_D;_#7_`%Y7W_HRUJ/3NU=%`\[&_$/U#O5+P1_R4NV_[!-W_P"CK6KNH=ZI M^!_^2EVW_8)N_P#T=:T5]B<'\:^?Y'K&*,4[%&*YSTQN*,5@_$&YN['P-K][ MIUU):7EI8S7,,T:HQ5HT+@8=64@[<'CH3C!P0>(KF[M=?\++;74D=O=7TMM< M0!4*RK]EFD!)*E@0T2XVD=3G/&"X[&]BC%8/C6YN[+3;&XL;J2W<:G8Q.%5& M$LH-'Q0-5@UG2&M-:N(/MNH0V\5I'!#Y!C53--YK M,K2%C'%,`4*C)C&!AG*N-1N=9BC%<"FMZY9V3Z?KUQ;VNH-NFENX$$IMH240 M!$`.Z229I%MU()9%!8/(CQMW=M/#=VT5Q:RQS6\R"2.6-@RNI&0P(X((YS0G M<3C8?BC%.Q1BF(;BC%.Q1B@!N*,4[%&*`&XHQ6?XDU:/0=!O]6FMKBYALHFG MECM]N_8O+$;F4<#)QG.!QDX!HZ]XHM=&N9XI;2\N$M+<7E[+`$VVC06LTUM<313W<%H3#M_=&601J[;F'R M[F4';D\],9P2:M''XD@T9[:X$L]I)=QS_+Y3"-T1T^]NW#S$/W<8/!R"*+A8 MT,48KG+#QEI6H:0;^R^T3;I5@AMU3$MP[QK+&$!./GB=),D@*I)?9M?;TN*+ M@U8;BC%.Q1B@0W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4 M`>8?%/\`Y&[PU_UY7W_HRUJ+3NU3?%3_`)&[PU_UY7W_`*,M:AT[M6]`\_&? M$6;_`*51\%?\E+M?^P3=_P#HZUJ]?]*H^"?^2EVO_8)N_P#T=:U5?8C!?&OG M^1ZOBC%.Q1BN8],AN8FFMI8HYI('="JRQA2T9(X8;@1D=>01Z@UQMA<:UJ_P M]\.ZG%?:A]KFT^WN+A=.AMA<7$CHAX,_[I5^9V(P">,$8*MO>+-:TK1=,4ZU M/^U_PGI%S!JD=I-=V\-Q-=6,.[<&C MW'R1,#M!8C[Z,=N1@,0R\)!XNU5M+TZ.2^U#[)_9[:S?:G%9PM<0V4LKM;L2 M0(598D/FJ$=CC]VK?,R;ESXG\'2Z;*M=L[60Z@U_<@P+&]K>6D=RJJS^5+E5250HD.R3(P7& M/F.4TQJ2)[G6=P07,KFRED(\NVA0.TEQ)@@^2D8A!W$$S.R[E1X MV'4Z)N<5S_PM%G_`,(@/[+^S_8/[0U#[/\`9\>5Y?VV;;LV M\;<8QCC%=5I%02,D2%V$<;2,0!DX5068^P!)[5@?#,?\6W\*?\`8)M/_1*5T%U(T-M+ M+'#)<.B%EAC*AI"!PHW$+D].2!ZD5:V,WN<\OBV"?3=&N=.T[4+^;5K07T%I M#Y2RB'"%F8R.J#!EC!`8G+<`@$C&3:5W(P#*<$` MC((X/-<)X>T_6-'TGP9=S:)>37&F:-)I=S90S0>N\'Z9-HWA+1-+NFC>XLK&"VD:,DJ62-5)!(!QD=P*2;&TEL:V*YKX9C M_BW'A3_L$VG_`*)2K^KZ3>7URLMKX@U334"!3#:QVS*QR?F/FPNV><=<<#CK MFC\-!GX;^%.<_TJA!BC%&T[0-QSZ^M M&.5]_Z,M:BT[M4OQ4_ MY&_PU_UY7W_HRUJ+3NU;T#S,;\0_4.]4_`W_`"4RV_[!-W_Z.M:N:AWJIX%_ MY*9;?]@F[_\`1UK3K["P7QKY_D>M8HQ0!UYS_2C:=H&XY]?6N<]0Y7Q]JOAV MWT\:1XGDN_(U..1?)M8KAWDC4KO!,`+!?G4'D`AL<@D5AW/B/P=?2:0\S>(I M'TIQ):L+/4P0P7;N6-V+^XO)-1AN#'=0W4449MI"B/Y:B(LNS:ZLOSR,`^&TMO'!]MGC2YGC00JRB$N!&A:QX/UK3--%N;N^M)+5#<2&-%\Q2I8D*QX!)QCDC M'&'=8U7^T_)33T_MS28]+O=]P_^AX\[+Q?N_WW_'PW#>5]P<_-\M3X MG:MJ]EKNA66DZK/IT5Q;W4LQABA=G*-`%_UB-@#S&Z8K(M;CQ#-C=XNU8?2W MLO\`XQ5*#GL9SKQI:29VGC*QUC4]+%OIMOI[2QZA:W"?:+MXPT<,LZ?J4GCG2M2ABLSIEO8W%M*S3L)MTKQ-E4V%2!Y"CEA]\_W M?FXJZE\019V^+M7/UM[+_P"1ZG\"ZOKDC<'(HE3<=Q4\1"H[19T%_X:O+A;VZMY;>TOOWD5I%;,8D2%YEDF!D M4!A)/L&Z0#,9(*`LK-)TNF0W%OIMI#?77VR[CB1)KGRQ'YS@`,^T<+DY.!P, MU9`Z\Y_I1M.T#<<^OK4V-6[G/^/8X7\*W?VJ]L[.W5XGD>]E$4$BK*A,,C'@ M)(!Y9X/#GY6^Z>?\"O%:^%M3EUN"W\.:=?7<_P!DL5FDM1;0I$%?9N2)H]WD MS3\*I`TGGUUB3C_P`EJ%%MZ"=2,%:3*.B6OA9_^$FE==(N_"=I%%>-_9L0 M_L\;?/+*\*%EEF1`C.>=W[@A%**2:=X=N-!LM`ELF^S>(FM)3#HZ`?9XKB0R M22#Y#A+5'N/G`)SY5L`Q=5630F\9>)(E`;P_I)([C6).?_):K7A/QI?ZQXG7 M2=1TBVL]UI+=)+!?-/G8\2E2#$F/]:#G)Z'BAP:W"-:,W:+N7_!5Y"]SK-A% M:7B2VEQ^_N[G!DNI"64O(0``Y$88*.!"\!7:K!%ZG%`'7G/]*-IV@;CGU]:$ M-ZABC%&.&O^O*^_P#1EK4.G=JG^*W_`"-WAK_KROO_`$9:U!IW:MZ! MYN-^(LW_`$JEX(_Y*9:_]@F[_P#1UK5V_P"E4O!'_)3+7_L$WG_HZUJJ^Q&" M_B+Y_D>LXHQ0!UYS_2C:=H&XY]?6N8]4\_\`C!_Q[^&/^PM_[:7-96G=JU?C M"/W'A@Y_YBQX_P"W2YK*T[M6U#J>=CMUZ?JRS?\`2L/2O^1^\*?]?LW_`*1W M%;E_TK$TK_D?_"G_`%^S?^D=Q5U]C+"?&CV?%&*`.O.?Z4;3M`W'/KZUS'K! MBC%&.AZ5S?PU,S>&)6NHXX[@ZGJ1D2-RZJWVZ?(#$`D9[X&?0=*U] M8TVZO_*^RZUJ&F;,[OLB0-YF<8SYL3],'&,=3G/&,GX:Q-#X8EBDGDN'34]2 M5II`H:0B^G!8[0%R>O``]`*GJ/H=1BODG]K?_DH^F_\`8)C_`/1TU?6^*^2/ MVN/^2D:;_P!@F/\`]'35-7X32A\9]*?#(?\`%M_"G_8)M/\`T2E=+BN;^&7_ M`"3;PG_V";3_`-$I7352V(>XW%&*=13)&XKFOAD/^+;^%/\`L$VG_HE*Z>N9 M^&7_`"3;PG_V";3_`-$I2ZE=#I,48IU%,D;BC%.HH`;BC%.HH`\N^*O_`"-_ MAK_KROO_`$9:U#IW:I_BM_R-_AG_`*\K[_T9:U!IW:NB@>9C?B'ZAWJIX$_Y M*9;?]@F[_P#1UK5O4.]5?`?_`"4VV_[!-Y_Z.M:=?86"_B+Y_D>N8HQ3J*YC MU#R[XJ_\C=X:_P"O*^_]&6M0:?VJQ\5_^1N\,_\`7E??^C+6J^G]JZ*!YN-^ M(EU'O53P+_R4RV_[!-W_`.CK6K>H]ZJ>!/\`DIEM_P!@F\_]'6M/$;$8+XU\ M_P`CUS%&*=17,>J9_W;(2X,2ED*LR$-P0 M<$'(K#TOQ5X/L(HX[(Z]\LIG+MI^HR/*Y0IF5V0M+\N``Y8`*F,;5Q3^*_\` MR-WAG_KROO\`T9:U7T[M6E.GSG-7Q+I.R1-#JO@6UTDZ(UM_M#7:NUIJA MFCE;.YTE*^8A;;.WX6U?PEJFIV6GZ.+HWEC#-<01W-KFV& MDV&GW-W<65M'#-=OOF9?XCDG\!N9VP,#<[M]YF)O8IU%9G6>7?%7_D;O#7_7 ME??^C+6H-.[58^*__(W>&?\`KROO_1EK5?3NU=%`\S&_$3:AT-4_`W_)3+;_ M`+!-W_Z.M:N:AT-5/`O_`"4VV_[!-Y_Z.M:>(V(P7\1?/\CUO%&*=17,>J>6 M_%;_`)&[PU_UY7W_`*,M:@T[M5CXL?\`(W>&?^O*^_\`1EK5?3NU=%`\W&_$ M3ZAWJGX&_P"2F6W_`&";S_T=:U*,4ZBN8]4;BC%.HH`;BC%.HH`;BC%.HH`\M^*_\`R-WAK_KROO\`T9:U M7T[M5GXL?\C=X9_Z\K[_`-&6M5M.[5T4#S<;\19O^E4_`_\`R4RU_P"P3>?^ MCK6KE_TJIX%_Y*;:_P#8)O/_`$=:T\1L1@OXB^?Y'K6*,4ZBN8]4\\^,/_'M MX8_["W_MIGZEF_P"E8FD_ M\C_X3_Z_9O\`TCN*V[_I6)I'_)0/"?\`U^S?^D=Q5U]C'"?&CVK%&*=17*>L M-Q1BG44`-Q1BG44`9^MSZ;;:3=/KDUG%IA3RYVO&582K?+MI%I,T,A4M&3?3Y4[25R.A MP2/0FEU*Z'48KY'_`&N?^2D:;_V"8_\`T=-7UU7R+^UU_P`E)TW_`+!,7_HZ M:HJ?":4/B/I;X9?\DV\)_P#8)M/_`$2E=+7-_#'_`))MX3_[!-I_Z)2NEJUL M0]SG;3Q5:W.K1V:VEXEO-<2V=O?,$\F>>+?YD:@,9`1Y4O+(JGRS@G*[NAK@ M],T?5(]6TRSEL)([?3M9OM5:^,D9AFCG^U;40!C)O'VI<[D5?D?#'Y=W>T(& MET$KFOAE_P`DV\)_]@FT_P#1*5?U?2;V_N5EM?$&J:8@0*8;6.V96.3\Q\V% MVSSC@XX''7/(?#O0-2F^'_AF6/Q;KENCZ7:LL,<5D5C!B7"C=;EL#H,DGU)I M=02T/1:*\J\9R>(=$U_1[&T\7ZP\5Y;W,TAEM[(L#&T`7&+<V22.)MEFNU7*%A@6X!R8TZ^GN:;'\.O+^YXJ\0#_@-G_\`(]:TJBAN MCCQ.&E5=XM?U\C%U#O57P%_R4VV_[!-Y_P"CK6NED^'?F??\5>(#_P`!L_\` MY'IMA\-UT_4UU&T\4^(([Q87@$FVS/R.R,PP;?')C3G&>/K3JU5-:(6'PLJ4 MDY-?U\CO**YO_A'-4_Z'3Q!_WYL/_D:C_A'-4_Z'3Q!_WYL/_D:L;G;;S.2^ M*_\`R-WAG_KROO\`T9:U7T_M70:M\/3J]Y;76H>*_$$T]LDD<3;+-=JN4+#` MMP#DQIU]/]5?` M?_)3;;_L$WG_`*.M:Z23X=F3[_BKQ`?^`V?_`,CTVP^&ZZ?J:ZA:>*?$$=XL M+P"3;9G".R,PP;?')C3G&>/K3JU5-:(6'PLJ4DY-?U\CO**YO_A'-4_Z'3Q! M_P!^;#_Y&H_X1S5/^AT\0?\`?FP_^1JQN=MO,Y+XK_\`(W>&?^O*^_\`1EK5 M?3NU=!JWP].KWEM=:AXK\033VR21Q-LLUVJY0L,"W`.3&G7T]S38_AR(_N>* MO$`_X#9__(]:TJBANCCQ.&E5=XM?U\C&U#O57P'_`,E-MO\`L$WG_HZUKI)/ MAV9/O^*O$!_X#9__`"/3;#X;KI^IKJ-IXI\01WBPO`)-MF<([(S#!M\6UUJ'BO MQ!-/;))'$VRS7:KE"PP+<`Y,:=?3W--C^'(C^YXJ\0#_`(#9_P#R/6M*HH;H MY,1AI57>+7]?(Q]0Z&JG@3_DIMM_V";S_P!'6M=+)\.S)]_Q5X@/_`;/_P"1 MZ98?#A;#4UU&T\4^(([Q87@$FVS.$=D9A@V^.3&G.,\?6G5JJ:T1.'PLJ4E* M37]?([RBN;_X1S5/^AT\0?\`?FP_^1J/^$*_$$T]LDD<3;+-=JN4+# M`MP#DQIU]/+7]?(Q]0[U5\" M?\E-MO\`L$WG_HZUKI)/AV9/O^*O$!_X#9__`"/3+#X<"PU-=1M/%/B".\6% MX!)MLSA'9&88-OCDQISC/'UIU:JFM$3A\+*E).37]?([RBN;_P"$(=#U[1[&T M\7ZP\5Y;W,LAEM[(L#&T`7&+<EA\IKXBE[6%K>IZE17FE]'KUN#L\8:R?K;V7_P`CUG>'[GQ'J/C& M'29_%VKK;/8SW)9+>R#[DDA4#)M\8Q*V>.P_%4LQHUIJG&]V.ME&(HTG6G:R M\SURBN;_`.$9;S.1^ M+/\`R-WAG_KROO\`T9:U6T[M71:O\/#J]W:W6H^*_$$T]LDD<3;;-=JN4+#` MMP#DQIU]/(#_`,!L_P#Y'IEA\.!8:FNHVGBGQ!'>+"\` MDVV9PCLC,,&WQR8TYQGCZTZM536B)P^%E2DI2:_KY'>45S?_``CFJ?\`0Z>( M/^_-A_\`(U'_``CFJ?\`0Z>(/^_-A_\`(U8W.VWF8/QC_P"/7PQ_V%__`&TN M:QM.[5TVL^`I=:6U74_%GB"9;:;SXALLEVOL9,\6XS\KL,'CGZ5#'\.!']SQ M3X@'_`;/_P"1ZTI5%#='+B& M3[_BKQ`?^`V?_P`CU!#\,HH=0M+Z/Q1X@6ZM',D+XLSM8HR$X^SX/RNPY]:J MI54UHC.AA)4Y)MK\?\CT"BN;_P"$)K_`(?CT9K+QAK+F]OOLLGFV]D<+Y$TF1BW M'.8U]>":AL&\07&-_B_6!]+>R_\`D>N.OCZ6'ER3O<]##977Q5/VM.UKV/4Z M*\UO8M>@7*>,-:/UM[+_`.1ZQ;74/$LOBC0]-;Q=JH@OKF2&1A;66X!;>60; M?W&,YC7J#QFLZ>9T:DU"-[LUJ9-B*=-U96LO,]?NFF6VE:UCCDN`A,:2.45F MQP"P!(&>X!QZ'I7-?#1IF\,2M=1QQW!U34C(D;EU5OMT^0&(!(SW(&?0=*F_ MX1S5/^AT\0?]^;#_`.1JB^&<;P^&)8I)I+ATU34E::0*&D(OI\LVT!7Z(^UR;_<5ZL?K'\58W@C_DI]M_V"+S_P!'6M;.L?Q5C^!O^2H6W_8( MO/\`T=:UGEW^]0^?Y,US/_<*GR_-'K>*,4[%&*^M/A!N*,4[%&*`&XHQ3L48 MH`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H` M;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`;B MC%.Q1B@#RWXK?\CCX8_Z\K__`-&6M2Z/VJ/XK_\`(X^&/^O*_P#_`$9:U)H_ M:OELT_WE^B/M\F_W%>K+FK=#6)X*_P"2GVO_`&"+S_T=:UMZMT-8O@G_`)*A M:_\`8(O/_1UK6>7?[U#Y_DR\S_W"I\OS1ZSBC%.Q1BOK3X4;BC%.Q1B@!N*, M4[%&*`&XHQ3L48H`;BC%.Q1B@!N*,4[%&*`&XHQ3L48H`X;XJ:7J6I6.B/I& MGRW\EIJ/GRQ121HVS[/,F09&4'YG7C.>:P;!/$-OC?X/U@_2XLO_`)(KM=2U M&+6+:_M?#FMQM>V+D7<>G/!-YZ.%S*OA M:?LJ=K-W,6]DU^=<)X/UH?6XLO\`Y(K.T/1?$$WC;P_=W7AZ]L;.TN99IIIY M[9@H-M-&.$E9B2SKVJ6S\7W=YX9@U"\\12#2[>XU)+_5]$LTN#&T5P?(4QA) MMD1@W/N(.`L9+_-\^OINO^*H8K*_UFQMPNH6EJEO8*#$_P!KE2,[,',B[&^T MM+D-MB2-E!*RUG3RZA3FIQO=&U3-L34IRI2M9Z;'9ZY/IMMI-U)KLMG#IA3R M[AKQE6$JWR[7+?+@YQ@]%Y99(9+=WU34F:&0J6C)OI\JVTE M_P#)2M-_[!$7_HZ:OK[%?(7[7W_)2M-_[!$7_HZ:IJ?":4?B/ICX8#_BVOA+ M_L$6G_HE*Z;%YE'Q98"VUB80WA.FWR::T;0[&FN'$6Q8PQ'#-- M&H9MJG.<[<-5_0M735XKG_1KBSNK6;R+FUN-GF0OL5P"49D.4=&RK$8;!P00 M.0N-*U>[_P"$L_XE-Q#OUVQU.U\R6'_2XK?[+N"8<[6/V5MH?8/G3)'S;>B\ M(VEVDVNZA?6DED=3OA=1VTS(TL2K;PPX?8S)DF%F&UCP5S@Y`5V-I'08KF?A M@/\`BVOA+_L$6G_HE*OZQI%[?W*RVOB'5-,0(%,-I';,K').X^;"[9YQP<<# MCKFA\,1GX:>$L$C_`(E-GT_ZXI3ZBZ'*_%3_`)'+PQ_UY7__`*,M*GT?^&H? MBK_R.7AC_KRO_P#T9:5-H_\`#7R^:?[R_1'VN3_[BO5C]8_BK'\#?\E0MO\` ML$7G_HZUK8UC^*LCP+_R5&V_[!%Y_P"CK6L\N_WJ'S_)FN9_[A4^7YH]=Q1B M@#!/).?THVG:!N.1CGC)KZT^$#%&*,<@Y./2@#!/).?TH`,48HVG:!N.1CGC M)HQR#DX]*`#%&*`,$\DY_2C:=H&XY&.>,F@`Q1BC'(.3CTH`P3R3G]*`#%&* M-IV@;CD8YXR:,<@Y./2@`Q1B@#!/).?THVG:!N.1CGC)H`,48HQR#DX]*`,$ M\DY_2@`Q1BC:=H&XY&.>,FC'(.3CTH`,48H`P3R3G]*-IV@;CD8YXR:`#%&* M,<@Y./2@#!/).?TH`,48HVG:!N.1CGC)HQR#DX]*`#%&*`,$\DY_2C:=H&XY M&.>,F@`Q1BC'(.3CTH`P3R3G]*`#%&*-IV@;CD8YXR:,<@Y./2@`Q1B@#!/) M.?THVG:!N.1CGC)H`\M^*_\`R./AC_KRO_\`T9:5)H_:F?%C_D7Z(^WR;_<5ZLN:MT-8O@G_DJ%K_V"+S_T=:UM:MT-8W@C M_DJ-K_V"+S_T=:U&7?[U#Y_DR\S_`-PJ?+\T>MXHQ0!@GDG/Z4;3M`W'(QSQ MDU]:?"ABC%&.0E`!BC%`&">2 M<_I1M.T#<%R<;B,%MJ9SM7%K:=H&XY&.>,FC'(.3C MTH`S+'2;;1-,N(=!LK>)CND2$N41WVX52V&*J`JH,`A455484+6/\,C,WA>5 MKJ...X.J:D9$C$O^P1:?^B4KIJYKX7_\DT\)?]@BT_\`1*5TU4MB7N)12T4Q M"5S/PO\`^2:>$O\`L$6G_HE*Z>N9^%__`"33PE_V"+3_`-$I2ZCZ')_%?_D< MO#'_`%Y7_P#Z,M*ET?\`AK1^(WAG6=:UG1;_`$1=.D^QP7,,L=Y;'_46F'_MK7@X_!UJM=SA&ZT['T^6YAAZ& M%5.I*SN^C_R'ZQ_%63X$_P"2HVW_`&"+S_T=:UJWFA^,KG/_`!+?#RY_ZBTQ M_P#;6G^"?">OZ?XR75]9CTJ*WCL9[55M+N29V:22%@3NB0``1'N>HJ,%@J]+ M$1G.-DO3L:8[,L-5PDZ4)7D[='W7D>CT4M%?1'R8E%+10`E%+10`E%+10`E% M+10`E%+10`E%+10`E%+10`E%+10`E%+10`E%+10`E%+10`E%+10`E%+10`E% M+10`E%+10!Y7\6O^1Q\+_P#7E?\`_HRTIVC]J3XM_P#(X^%_^O*__P#1EI2Z M/VKY;-/]Y?HC[;)_]Q7JRYJW0UC^!O\`DJ-K_P!@B\_]'6M;&K=#6/X%_P"2 MHVO_`&"+S_T=:U&7?[U#Y_DR\S_W"I\OS1Z[12T5]8?#"44M%`"44M%`"44M M%`"44M%`"44M%`"44M%`"44M%`"44M%`%#7+C3+;2+J37I;.'2RGEW#7K*L) M5OEVN6^7!SC!ZYQ7._"?['_PAH_LK[/_`&?_`&CJ/V;[-M\KROML^S9MXVXQ MC'&,8KK;J5X;::6."2X=$++#&5#R$#(5=Q"Y/09('J17,?#&5YO"TLLD$EN[ MZIJ;-#(5+QDWTY*MM)7(Z'!(]":74?0ZJOC_`/;!_P"2EZ9_V"(O_1TU?8-? M'_[8/_)2],_[!$7_`*.FJ:FQ=+XCZ;^%_P#R3/PE_P!@BT_]$I73US/PN_Y) MGX1_[!%I_P"B4K8U"+4Y+JS;3KNS@MU?-RD]JTKRKD<(PD4(<;N2'ZCCC!:V M):U,&7QO:V[,M]I>JV;RH'LDGC17O@98XEV+O)C)>:%<3>61Y@R!M?;L:#K$ M>KPW/^C7%G=6LWD7-K<;/,A?8K@$HS(% M[RT>T>.6U$UU;86**]MIC$H21M\LRP9+.41"B(#R\C=CX0M+N.;7=0OK22R. MIWXNH[:9T:6)5MX((M5TQ`@4PVD=LR,)6CD4@*"R MG.4?HM9T;3-;MTM]9T^SU"V1O,6&[@25`^"`V&!Y`)&? M=7)_X_OLR>>/DV?ZS&[[O'7IQTHL!Q/Q#UB_37+JW1+P:#H^E_VIJ@M;S[*\ MT;-)@+(H\T.@MW*JC(K[B'=`H62K;ZCK&KZ_=3S3WEC#>7][I&BS)9#+*]OYIPSQVL,1,C_`'IBA4_.)(G] M.JJFG6:V4-F+6W^QP&/R8/*7RXO+*F/:N,#:54CT(&.@JSM.T#<,FEQ\P.3C'2@`HH`P3R3D_E2; M3M`W'(QSQDT`+11CY@2,FEQ\P.3C'2@`HH`P3R3D_E2;3M`W'(QSQDT`+11CY@2< MG\J`"BDVG:!N.1CGC)I5_\`^C+2ET?M1\7/^1Q\+_\`7E?_`/HRTHT?M7R^:?[R_1'VN3_[ MBO5ES5NAK'\"_P#)4K;_`+!%Y_Z.M:V-6Z&LCP)_R5*V_P"P1>?^CK2HR_\` MWJ/S_)EYE_N%3Y?FCU^B@#!/).3^5)M.T#<2,FEQ\P.3C'2@"*Z,RVTS M6D<E,9'P MPB:'PM+%)/)<.FJ:FK32!0\A%]."S;0%R>IP`/0"EU';0ZNOCW]L+_DIFF?] M@B+_`-'35]AXKX]_;#_Y*9IG_8(B_P#1TU3/8NE\1].?"X?\6S\(_P#8(M/_ M`$2E=1BN9^%H_P"+9>$?^P/9_P#HE*Z?%4B7N)BC%+BC%,0F*Y?X7#_BV?A' M_L$6G_HE*ZG%S_\`1*4NH^ATV*,4N*,4Q"8HQ2XHQ0`F M*,4N*,4`)BC%+BC%`"8HQ2XHQ0`F*,4N*,4`)BC%+BC%`"8HQ2XHQ0`F*,4N M*,4`)BC%+BC%`"8HQ2XHQ0`F*,4N*,4`)BC%+BC%`"8HQ2XHQ0`F*,4N*,4` M)BC%+BC%`"8HQ2XHQ0`F*,4N*,4`>4?%[_D?^CK2HR__`'J/S_)EYE_N%3Y?FCV'%&*7 M%&*^K/B!,48I<48H`3%&*7%&*`$Q1BEQ1B@!,48I<48H`3%&*7%&*`$Q1BEQ M1B@!,48I<48H`3%&*7%&*`,_79],M=(NI->ELH=+*>7<->LJPE6^7:Y;Y<'. M,'KG%<[\)A9?\(8/[*^S_P!G?VEJ/V;[-M\KROMT^S9MXVXQC'&,8KK;J1X; M6:6."2X=$++#$5#R$#(5=Q"Y/09('J17,?#"1Y_"LLLD$EN[ZKJ;-#*5+QDW M\Y*MM)7(Z'!(]":74?0ZO%?'?[8G_)3-,_[!$7_HZ>OL7%?'?[8O_)3=,_[` M\7_HZ>IGL53^(^GOA;_R3+PC_P!@>S_]$I73XKF?A:/^+8^$/^P/9_\`HE*V M=1AU22ZLVTZ\LH+='S8,@;7V[.@:Q'K$-S_HUQ9W5I-] MGN;6XV>9"^Q7`)1F0Y21&RK$8;!P00.%U?1]8UG5[C5;+0]1T[/V2:[M[^ZA M=[QK:[@FB6`)+(D>U$N1@F-2\RDYY9>L\'VEY'-KVH7UI)9'5+\74=M,Z-+$ MJVT$.'V,R9)A9AM9OE9M`"8HQ2A2">2M`"8HQ2A2">2_P"$@4S`PV7V:.;+[6^;]Z1&F%W?,S*/ MX026`/'&P^'[V]D+3P)IUWJ-YYXBT^'1[?S0T$@CG5G.(E\MSM+-(%8\(6RN M>GUS3O$L%G>MX?U4WEW=2C8FI210QV<1)+>28[=B6P0%\P.!P3NP5;CKCX=Z MKJ:=;O(!8WEV\*S%HU43F1(F*.FZ=`@!'[P.&5E4"W!H^NQ^*_#MY/(89III#"QD6%4*`9MQQO'^L/]T;@"33_&VDZCHQU"P^T3[IEMX+ M98\37#O&LL0120/GB=),D@*I)?9L?;T^*X_4/"U]<+J%W;36]I?DR16<-LQB MCC@DF22=3(JAA)<&,%Y0"8RP*`LK/)T^F6]U;Z79P7UX;N\BB1)[H1B/SG`& MY]@X7<03@=,\4(3+.*,4NT[@M`4@GDG)_ M*@!,48HVG8!O.1CYN,FEVG<#DXQT]:`$Q1BE"D$\DY/Y4FT[`-YR,?-QDT`& M*,4NT[@Y]/_"S_DF/A#_L#V?_`*)2 MNHQ7,_"S_DF/A#_L#V?_`*)2NHQ31+W&XHQ3L48H`;BN7^%G_),?"'_8'L__ M`$2E=5BN7^%G_),?"'_8'L__`$2E`=#IL48IV*,4`-Q1BG8HQ0`W%&*=BC%` M#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#< M48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48 MIV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV M*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*,4`-Q1BG8HQ0`W%&*=BC%`#<48IV*, M4`-Q1BG8HQ0!G:[<:9:Z/=2:_-90Z64\NX:]95A*M\NURWRX.<8/7.*YSX2? M8O\`A"Q_9/V;^SO[2U+[-]FV^5Y7VZ?9LV\;<8QCC&,5U]U(T%K-+%!)<2(A M988BH>0@9"KN(7)Z#)`]2*Y?X72-/X5EEE@DMY'U74V:&4J7C)O[@E6VDKD= M#@D>A-'4?0ZO%?''[8__`"4[3/\`L#Q?^CIZ^R<5\;_MD_\`)3M,_P"P/%_Z M.GJ9[%0W/J'X6?\`),/"'_8'L_\`T0E=1BN9^%8_XMAX0_[`]G_Z(2MG48=4 MDNK-M-O+*WMD?-TEQ:-,\JY'",)$"'&[DA^HXXP6A,Q-:\;Z1I.LMI4@N;B^ M6'S-D$>5WF2"-(=Y(42.US#A20`'#.55E)U-`UB/6(;G_1;FSNK2;[/S_P#1"5HZSHU]J%TLMIXC MU72XP@4PVD=JR,G6'C/Q%%9VD*6\$?E M6#;$10JC)MB3@`/$7_ M`'XT_P#^1:+A8Z;%&*X#P5IFN:YX-T'5KOQKKR7-_8074JQ6]@$#/&K$*#;$ MXR>,DUL_\(QJW_0\>(O^_&G_`/R+1<+'38HQ7,_\(QJW_0\>(O\`OQI__P`B MT?\`",:M_P!#QXB_[\:?_P#(M%PL=-BC%(O^_&G_P#R+1_P MC&K?]#QXB_[\:?\`_(M%PL=-BC%P" M!GC5B%!MB<9/&2:V?^$8U;_H>/$7_?C3_P#Y%HN%CIL48KF?^$8U;_H>/$7_ M`'XT_P#^1:/^$8U;_H>/$7_?C3__`)%HN%CIL48KF?\`A&-6_P"AX\1?]^-/ M_P#D6C_A&-6_Z'CQ%_WXT_\`^1:+A8Z;%&*X#P5IFN:YX-T'5KOQKKR7-_80 M74JQ6]@$#/&K$*#;$XR>,DUL_P#",:M_T/'B+_OQI_\`\BT7"QTV*,5S/_", M:M_T/'B+_OQI_P#\BT?\(QJW_0\>(O\`OQI__P`BT7"QTV*,5S/_``C&K?\` M0\>(O^_&G_\`R+1_PC&K?]#QXB_[\:?_`/(M%PL=-BC%P"!GC5B%!MB<9/&2:V?\`A&-6_P"AX\1?]^-/_P#D6BX6 M.FQ1BN9_X1C5O^AX\1?]^-/_`/D6C_A&-6_Z'CQ%_P!^-/\`_D6BX6.FQ1BN M9_X1C5O^AX\1?]^-/_\`D6C_`(1C5O\`H>/$7_?C3_\`Y%HN%CIL48K@/!6F M:YKG@W0=6N_&NO)(O^_&G_\`R+1< M+'38HQ7`>"M,US7/!N@ZM=^-=>2YO[""ZE6*WL`@9XU8A0;8G&3QDFMG_A&- M6_Z'CQ%_WXT__P"1:+A8Z;%&*YG_`(1C5O\`H>/$7_?C3_\`Y%H_X1C5O^AX M\1?]^-/_`/D6BX6.FQ1BN9_X1C5O^AX\1?\`?C3_`/Y%H_X1C5O^AX\1?]^- M/_\`D6BX6.FQ1BN`\%:9KFN>#=!U:[\:Z\ES?V$%U*L5O8!`SQJQ"@VQ.,GC M)-;/_",:M_T/'B+_`+\:?_\`(M%PL=-BC%(O^_&G_P#R+1<+'38HQ7,_\(QJW_0\>(O^_&G_`/R+1_PC&K?] M#QXB_P"_&G__`"+1<+'38HQ7`>"M,US7/!N@ZM=^-=>2YO[""ZE6*WL`@9XU M8A0;8G&3QDFMG_A&-6_Z'CQ%_P!^-/\`_D6BX6.FQ1BN9_X1C5O^AX\1?]^- M/_\`D6C_`(1C5O\`H>/$7_?C3_\`Y%HN%CIL48KF?^$8U;_H>/$7_?C3_P#Y M%H_X1C5O^AX\1?\`?C3_`/Y%HN%CIL48K@/"6F:YK&E3W-SXUUY9([^]M0([ M>P`VPW4L*GFV/)6,$^^>G2MG_A&-6_Z'CQ%_WXT__P"1:+A8Z;%&*YG_`(1C M5O\`H>/$7_?C3_\`Y%H_X1C5O^AX\1?]^-/_`/D6BX6.FQ1BN9_X1C5O^AX\ M1?\`?C3_`/Y%H_X1C5O^AX\1?]^-/_\`D6BX6.FQ1BN`\):9KFL:5/;8\E8P3[YZ=*V?\`A&-6_P"AX\1?]^-/_P#D6BX6 M.ANC,MK,UI''+E@Z2MC M%S_P#1"5U.*Y?X M5?\`)+_!_P#V![/_`-$)74XIH3$Q1BEQ1B@0F*,4N*,4`)BN;N/&N@0-A[R1 M@KRI*\=K,Z6_ERO$[S,JD0H'CD&^0JI\MR"0I(Z7%>7>.],DMIO&-G8Z7\+B1D4K%EKF-B\A5278YX8@N-';6WB;2KG6#ID-Q(; MG>\2N;>189)$SOC28KY;NNU\HK%AL?(&QL;6*X.YUD:S\0=+L6TS6HK?2KR1 MHISIDZ1RS?9I4,C2LHC$`5W08)9Y&4@*B[I.]Q17>.],DMIO&-G8 MZ7)M*N=8.F0 MW$AN=[Q*YMY%ADD3.^-)BOENZ[7RBL6&Q\@;&QM8KB+NX.I_$+1Y+%-6F%B\ MT%S#=Z?+#:0+Y<@-S%(\:AYBXCC!5V_=R2;5PS-7<8HN`F*,4N*,4"$Q7-W' MC70(&P]Y(P5Y4E>.UF=+?RY7B=YF52(4#QR#?(54^6Y!(4D=+BO+O'>F26TW MC&SL=+N3_P`)!H*V%B+.T=XY+LO>%Q(R*5BRUS&Q>0JI+L<\,07&CT&^U?3[ M#4M-T^[NXHK[4G>.T@)R\Q1"[X`[!5))/`R!G)`-_%>7ZCI'BA?B#HNIW.EZ M=\D8*\J2O':S.EOY\+B1D4K%EKF-B\A5278YX8@N-'>?V[8'7 M/[(C:YEO!PYBM99(HCMW[9)54QQMMP=K,#AEX^9.0;Y"JGRW()"DCI<5Y=X[TR2VF\ M8V=CI=R?^$@T%;"Q%G:.\&(+C1Z#-JUG%K$ M&EEY'OID,FR*%Y!&O.&D905C#;6"ERNXJP7)!%7\5Y?X8L=1LO&&`=:.HS:Q M?3ZF9TD%I]@83?9]KE1#(W_'G@@M,J_)D(A1?4<47!B8HQ2XHQ0(3%-= M`@;#WDC!7E25X[69TM_+E>)WF95(A0/'(-\A53Y;D$A21TN*\N\=Z9);3>,; M.QTNY/\`PD&@K86(L[1WCDNR]X7$C(I6++7,;%Y"JDNQSPQ!<:.Q3Q;H[ZY# MI*37+74TSV\;BSF-N\J*S/&L^SRBRB.3(#9!1@>016_BN]^(%A(T,GV M'3+"60M*I\MYYW58VC/0NB13ACP56=0,AVQTF*+@)BC%+BC%`A,5@:AXMT>Q MN+BWDFN9KJ"8P26]K9S7,H81QR$[(T9BH6:++@;09%!()`KH,5QGB!(M%\;: M9KK6%R;-K.\@N9;&RDN)&GD:T\LND2LYRENPWD8`102,J"7&::^+M#>^@M8K M[SO/\L)<0Q226P,@!C5IU4Q*SAD*JS`MYB8!WKG?Q7C7AC2M1TI_#>G7VC7* M75K#ID4MBL,DEM=&.!%>[EG3,"RPG.U6.6^S+]XM;M%[-BA,&A,48I<48H$) MBL#4/%NCV-Q<6\DUS-=03&"2WM;.:YE#"..0G9&C,5"S19<#:#(H)!(%=!BN M,\0)%HOC;3-=:PN39M9WD%S+8V4EQ(T\C6GEETB5G.4MV&\C`"*"1E02XS37 MQ=H;WT%K%?>=Y_EA+B&*22V!D`,:M.JF)6<,A568%O,3`.]<[^*\:\+^%-;B ML]$T&W;[+!%_95]KBW=@Y\J>UAML1V]P'5)-QMHU(57"XE+.#L0^S8H3!H3% M&*7%&*!"8K%O/$^C64DD=W?Q0R1W\.EE7#`M=2JC1Q*,?,2LJ'C(`R21M;&W MBN,^)*16>@1RV]AD3.+>1H8Y'QLC>8+Y:.VY,(S!CO3`.]<[6*\TUBUN_P"V M-;TQ;&]:YU'Q%INIVSI;2-"UO#]B\QFF`\M"/LTWRLP8[1@'>)]&LI)([N_BADCOX=+*N&!:ZE5&CB48^8E94/&0!DDC:V-O% M<9\24BL]`CEM["YEEGUC3KB86-E)/(_E7,#O(XB5F.(H?O'LJKUVBBXSHVU? M3UUZ/13=Q?VK);->"V!RXA5E0N?0;F`&>O.,[3B_BN2U.4CXJ:`HMKUHQI5] M&TZ6DK0HTDMLR*TH78I(@DX)'0?WESUV*+@)BC%+BC%`A,5\:?MF?\E0TO\` M[`\7_H^>OLS%?&?[9G_)4-+_`.P/%_Z/GJ9;%1W/J3X5?\DO\'_]@:S_`/1" M5U-?$GA_]I#Q?H6@Z;I-IIV@/;6%M%:Q-+!,7*1J%!8B4#.`,X`J_P#\-2^- MO^@7X<_\!Y__`(]1<=C[,HKXS_X:E\;?]`OPY_X#S_\`QZC_`(:E\;?]`OPY M_P"`\_\`\>IW%8^S**^,_P#AJ7QM_P!`OPY_X#S_`/QZC_AJ7QM_T"_#G_@/ M/_\`'J+A8^S**^,_^&I?&W_0+\.?^`\__P`>H_X:E\;?]`OPY_X#S_\`QZBX M6/LRBOC/_AJ7QM_T"_#G_@//_P#'J/\`AJ7QM_T"_#G_`(#S_P#QZBX6/LRB MOC/_`(:E\;?]`OPY_P"`\_\`\>H_X:E\;?\`0+\.?^`\_P#\>HN%C[,HKXS_ M`.&I?&W_`$"_#G_@//\`_'J/^&I?&W_0+\.?^`\__P`>HN%C[,HKXS_X:E\; M?]`OPY_X#S__`!ZC_AJ7QM_T"_#G_@//_P#'J+A8^S**^,_^&I?&W_0+\.?^ M`\__`,>H_P"&I?&W_0+\.?\`@//_`/'J+A8^S**^,_\`AJ7QM_T"_#G_`(#S M_P#QZC_AJ7QM_P!`OPY_X#S_`/QZBX6/LRBOC/\`X:E\;?\`0+\.?^`\_P#\ M>H_X:E\;?]`OPY_X#S__`!ZBX6/LRBOC/_AJ7QM_T"_#G_@//_\`'J/^&I?& MW_0+\.?^`\__`,>HN%C[,HKXS_X:E\;?]`OPY_X#S_\`QZC_`(:E\;?]`OPY M_P"`\_\`\>HN%C[,HKXS_P"&I?&W_0+\.?\`@//_`/'J/^&I?&W_`$"_#G_@ M//\`_'J+A8^S**^,_P#AJ7QM_P!`OPY_X#S_`/QZC_AJ7QM_T"_#G_@//_\` M'J+A8^S**^,_^&I?&W_0+\.?^`\__P`>H_X:E\;?]`OPY_X#S_\`QZBX6/LR MBOC/_AJ7QM_T"_#G_@//_P#'J/\`AJ7QM_T"_#G_`(#S_P#QZBX6/LRBOC/_ M`(:E\;?]`OPY_P"`\_\`\>H_X:E\;?\`0+\.?^`\_P#\>HN%C[,HKXS_`.&I M?&W_`$"_#G_@//\`_'J/^&I?&W_0+\.?^`\__P`>HN%C[,HKXS_X:E\;?]`O MPY_X#S__`!ZC_AJ7QM_T"_#G_@//_P#'J+A8^S**^,_^&I?&W_0+\.?^`\__ M`,>H_P"&I?&W_0+\.?\`@//_`/'J+A8^S**^,_\`AJ7QM_T"_#G_`(#S_P#Q MZC_AJ7QM_P!`OPY_X#S_`/QZBX6/LRBOC/\`X:E\;?\`0+\.?^`\_P#\>H_X M:E\;?]`OPY_X#S__`!ZBX6/LRBOC/_AJ7QM_T"_#G_@//_\`'J/^&I?&W_0+ M\.?^`\__`,>HN%C[,HKXS_X:E\;?]`OPY_X#S_\`QZC_`(:E\;?]`OPY_P"` M\_\`\>HN%C[,HKXS_P"&I?&W_0+\.?\`@//_`/'J/^&I?&W_`$"_#G_@//\` M_'J+A8^S**^,_P#AJ7QM_P!`OPY_X#S_`/QZC_AJ7QM_T"_#G_@//_\`'J+A M8^S**^,_^&I?&W_0+\.?^`\__P`>H_X:E\;?]`OPY_X#S_\`QZBX6/LRBOC/ M_AJ7QM_T"_#G_@//_P#'J/\`AJ7QM_T"_#G_`(#S_P#QZBX6/LRBOC/_`(:E M\;?]`OPY_P"`\_\`\>H_X:E\;?\`0+\.?^`\_P#\>HN%C[,HKXS_`.&I?&W_ M`$"_#G_@//\`_'J/^&I?&W_0+\.?^`\__P`>HN%C[,HKXS_X:E\;?]`OPY_X M#S__`!ZC_AJ7QM_T"_#G_@//_P#'J+A8^S**^,_^&I?&W_0+\.?^`\__`,>H M_P"&I?&W_0+\.?\`@//_`/'J+A8^S*^,_P!LW_DJ&E_]@:+_`-'ST?\`#4OC M;_H%^'/_``'G_P#CU>9?$WQ]JGQ%UZ#5M;@LH+F&V6U5;1&5"@9V!(9F. )_I4R>A45J?_9 ` end XML 21 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 26 94 1 true 17 0 false 2 false false R1.htm 000000 - Document - Document and Entity Information Sheet http://www.blackrock.com/role/DocumentDocumentandEntityInformation Document and Entity Information false true R2.htm 000011 - Document - Risk/Return Summary {Unlabeled} - BLACKROCK MANAGED VOLATILITY PORTFOLIO Sheet http://www.blackrock.com/role/DocumentRiskReturnSummaryUnlabeledBLACKROCKMANAGEDVOLATILITYPORTFOLIO Risk/Return Summary - BLACKROCK MANAGED VOLATILITY PORTFOLIO false false R9.htm 000019 - Disclosure - Risk/Return Detail Data {Elements} - BLACKROCK MANAGED VOLATILITY PORTFOLIO Sheet http://www.blackrock.com/role/DisclosureRiskReturnDetailDataElementsBLACKROCKMANAGEDVOLATILITYPORTFOLIO Risk/Return Detail Data - BLACKROCK MANAGED VOLATILITY PORTFOLIO false true R10.htm 000021 - Document - Risk/Return Summary {Unlabeled} - BLACKROCK MANAGED VOLATILITY PORTFOLIO Service Shares Sheet http://www.blackrock.com/role/DocumentRiskReturnSummaryUnlabeledBLACKROCKMANAGEDVOLATILITYPORTFOLIOServiceShares Risk/Return Summary - BLACKROCK MANAGED VOLATILITY PORTFOLIO Service Shares false false R15.htm 000029 - Disclosure - Risk/Return Detail Data {Elements} - BLACKROCK MANAGED VOLATILITY PORTFOLIO Service Shares Sheet http://www.blackrock.com/role/DisclosureRiskReturnDetailDataElementsBLACKROCKMANAGEDVOLATILITYPORTFOLIOServiceShares Risk/Return Detail Data - BLACKROCK MANAGED VOLATILITY PORTFOLIO Service Shares false false R16.htm 040000 - Disclosure - Risk/Return Detail Data {Elements} Sheet http://xbrl.sec.gov/rr/role/RiskReturnDetailData Risk/Return Detail Data true false All Reports Book All Reports brf7-20121106.xml brf7-20121106.xsd brf7-20121106_cal.xml brf7-20121106_def.xml brf7-20121106_lab.xml brf7-20121106_pre.xml BarChart1.jpg BarChart2.jpg true true