BlackRock Charities UK Bond Fund

The Fund aims to provide a return on your investment, generated through income paid out by assets held by the Fund. The Fund invests at least 80% of its total assets directly in a range of Sterling denominated investment grade (i.e. meeting a specified level of credit worthiness) fixed income (FI) securities (i.e. bonds) issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development) and FI related investments (i.e. other investments whose value is related to FI securities). The Sub-Fund may also invest in a full range of available FI securities without geographical restriction, including non-Sterling denominated FI securities, investment grade and non-investment grade (i.e. securities which have a relatively low credit rating or which are unrated) FI securities.