PROBF Probe Gold Inc (QB)

SUMMARY PROSPECTUS

 

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BlackRock Large Cap Growth Fund Investor A: MDLHX • Investor B: MBLHX • Investor C: MCLHX • Institutional: MALHX • Class R: MRLHX

 

Shareholder Fees (fees paid directly from your investment)				Investor A Shares				Investor B Shares				Investor C Shares				Institutional Shares				Class R Shares
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)					5.25	%		None				None				None				None
Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is lower)				None 1					4.50	% 2			1.00	% 3		None				None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 4				Investor A Shares				Investor B Shares				Investor C Shares				Institutional Shares				Class R Shares
Management Fee 4					0.50	%			0.50	%			0.50	%			0.50	%			0.50	%
Distribution and/or Service (12b-1) Fees					0.25	%			1.00	%			1.00	%		None					0.50	%
Other Expenses					0.50	%			0.64	%			0.54	%			0.46	%			0.54	%
Administration Fees				0.25%				0.25%				0.25%				0.25%				0.25%
Miscellaneous Other Expenses				0.25%				0.39%				0.29%				0.21%				0.29%
Acquired Fund Fees and Expenses 5					0.01	%			0.01	%			0.01	%			0.01	%			0.01	%
Total Annual Fund Operating Expenses 5					1.26	%			2.15	%			2.05	%			0.97	%			1.55	%

 

1

A contingent deferred sales charge (“CDSC”) of 1.00% 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.

4

The fees and expenses shown in the table and the example that follows include both the expenses of Growth Fund and Growth Fund’s share of the allocated expenses of Master Large Cap Growth Portfolio (“Master Growth Portfolio” or the “Portfolio”), a series of Master Large Cap Series LLC. Management Fees are paid by Master Growth Portfolio.

5

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.

				1 Year				3 Years				5 Years				10 Years
Investor A Shares				$	647			$	904			$	1,180			$	1,968
Investor B Shares				$	668			$	1,023			$	1,354			$	2,256
Investor C Shares				$	308			$	643			$	1,103			$	2,379
Institutional Shares				$	99			$	309			$	536			$	1,190
Class R Shares				$	158			$	490			$	845			$	1,845

 

				1 Year				3 Years				5 Years				10 Years
Investor B Shares				$	218			$	673			$	1,154			$	2,256
Investor C Shares				$	208			$	643			$	1,103			$	2,379

 

n

Equity Securities Risk — Stock markets are volatile. The price of an equity security fluctuates based on changes in a company’s financial condition and overall market and economic conditions.

n

Investment Style Risk — Under certain market conditions, growth investments have performed better during the later stages of economic expansion. Therefore, this investment style 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 equity funds that use different investment styles.

n

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.

 

As of 12/31/13 Average Annual Total Returns				1 Year				5 Years 1				10 Years 1
BlackRock Large Cap Growth Fund — Investor A
Return Before Taxes					26.03	%			16.20	%			6.58	%
Return After Taxes on Distributions					23.96	%			15.35	%			6.14	%
Return After Taxes on Distributions and Sale of Shares					16.31	%			12.98	%			5.26	%
BlackRock Large Cap Growth Fund — Investor B
Return Before Taxes					27.21	%			16.29	%			6.48	%
BlackRock Large Cap Growth Fund — Investor C
Return Before Taxes					30.94	%			16.54	%			6.32	%
BlackRock Large Cap Growth Fund — Institutional
Return Before Taxes					33.40	%			17.82	%			7.46	%
BlackRock Large Cap Growth Fund — Class R
Return Before Taxes					32.51	%			17.09	%			6.84	%
Russell 1000 ® Growth Index (Reflects no deduction for fees, expenses or taxes)					33.48	%			20.39	%			7.83	%

1

A portion of the Fund’s total return was attributable to proceeds received in the fiscal period ended September 30, 2009 in a settlement of litigation.

Name	Portfolio Manager of the Fund Since	Title
Peter Stournaras, CFA	2010	Managing Director of BlackRock, Inc.

 

		Investor A and Investor C Shares		Investor B Shares		Institutional Shares		Class R Shares
Minimum Initial Investment		$1,000 for all accounts except: •  $250 for certain fee-based programs. •  $100 for certain employer-sponsored retirement plans. •  $50, if establishing an Automatic Investment Plan.		Available only through exchanges and dividend reinvestments by current holders and for purchase by certain employer-sponsored retirement plans.		$2 million for institutions and individuals. Institutional Shares are available to clients of registered investment advisers who have $250,000 invested in the Fund.		$100 for all accounts.
Minimum Additional Investment		$50 for all accounts (with the exception of certain employer-sponsored retirement plans which may have a lower minimum).		N/A		No subsequent minimum.		No subsequent minimum.

 

INVESTMENT COMPANY ACT FILE #811-09637 © BlackRock Advisors, LLC SPRO-LCG-0114