BlackRock Mid-Cap Growth Equity Portfolio

The BlackRock Mid-Cap Growth Equity Portfolio typically dedicates a substantial portion of its capital, specifically a minimum of 80% of its net assets, to equity securities. These are shares of U.S. companies with medium market capitalizations, which the portfolio's management identifies as having robust, above-average potential for earnings growth. The fund's advisor generally benchmarks these mid-cap companies, at the time of investment, against those found within the Russell Midcap® Growth Index for market capitalization comparability. While its primary focus is on common stock, the portfolio also maintains the flexibility to invest in preferred stock, convertible securities, and various other equity-related instruments.