BlackRock Liquidity Funds - FedFund

This fund's objective is to seek current income consistent with liquidity and preservation of principal. The fund invests at least 99.5% of its total assets in cash, U.S. Treasury bills, notes and other obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities, and repurchase agreements secured by such obligations or cash. The fund is managed to maintain a dollar-weighted average portfolio maturity of 60 days or less.