BlackRock Global Allocation V.I. Fund

  • Trading Symbol: FBMEC
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Morningstar® Snapshot*

AS OF 7/31/2015; MORNINGSTAR CATEGORY: WORLD ALLOCATION
Returns 4 out of 5, Above Average Returns
LOW AVG HIGH
Risk of this Category Category Risk Rating:5, where 1 is Lower and 10 is Higher
LOWER HIGHER

*Data provided by Morningstar.

Performance

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AS OF 7/31/2015
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FBMEC -2.02% +2.04% +7.90% -- +6.56%
*AS OF 8/26/2015; Value is cumulative
SUBACCOUNT INCEPTION 4/30/2012

Hypothetical Growth of $10,000

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AS OF 07/31/2015; MORNINGSTAR CATEGORY: WORLD ALLOCATION
Shows growth of hypothetical $10,000 investment in BlackRock Global Allocation V.I. Fund over the selected time period

The chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on commencement of operations (whichever is later). Figures include reinvestment of capital gains and dividends, and reflect the effects of the annual annuity charge and the underlying fund's expenses. Figures do not reflect the effects of any applicable redemption fees, maintenance charges, or surrender fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data featured represents past performance, which is no guarantee of future results. Investment returns and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received. Fund performance fluctuates and currently may be significantly higher or lower than stated.

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
This Fund -- -- -- -- -- -- -- -- 14.27% 1.71% 2.75%
Benchmark 11.32% 21.46% 11.32% -40.91% 34.38% 12.73% -6.48% 16.96% 24.67% 4.77% 4.11%
Benchmark-2 4.91% 15.79% 5.49% -37.00% 26.46% 15.06% 2.11% 16.00% 32.39% 13.69% 3.35%
Category 2.43% 12.97% 12.32% -30.84% 21.61% 7.23% -3.62% 10.97% 10.84% 1.56% 1.21%
+/- Benchmark -- -- -- -- -- -- -- -- -10.40% -3.06% -1.36%
+/- Benchmark-2 -- -- -- -- -- -- -- -- -18.12% -11.98% -0.60%
+/- Category -- -- -- -- -- -- -- -- 3.43% 0.15% 1.54%

Fund Manager(s)

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Dennis W. Stattman since 2/28/2001 Dan Chamby since 12/31/2003 Aldo Roldan since 9/22/2006

Fund Overview

Objective

The investment seeks high total investment return.

Strategy

The fund invests in a portfolio of equity, debt and money market securities. Generally, its portfolio will include both equity and debt securities. In selecting equity investments, the fund mainly seeks securities that the adviser believes are undervalued. The fund may buy debt securities of varying maturities, debt securities paying a fixed or fluctuating rate of interest, and debt securities of any kind. It may invest up to 35% of its total assets in "junk bonds," corporate loans and distressed securities. The fund may also invest in Real Estate Investment Trusts and securities related to real assets.

Risk

Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of which may be magnified in emerging markets. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments. These risks may be magnified in foreign markets. In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Details

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Morningstar Category
World Allocation
Subaccount Inception
4/30/2012
Unit Value
$11.58
8/26/2015
Turnover Rate
72%
12/31/2014
Net Assets ($M)
$139.59
7/31/2015
12 Month Low-High
$11.38 - $12.50
7/31/2015

Top 10 Holdings

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AS OF 6/30/2015
Top 10 Holdings
United Kingdom (Government Of) 2.25% 1.20%
US Treasury Note 2.25% 1.13%
US Treasury Note 0.01% 1.08%
Mexico (United Mexican States) 10 12/05/2024 0.96%
JPMorgan Chase & Co 0.67%
Italy (Republic Of) 1.5 06/01/2025 0.66%
Procter & Gamble Co 0.65%
Anadarko Petroleum Corp 0.58%
Bank of America Corporation 0.57%
Google Inc Class C Capital Stock 0.54%
% of Total Portfolio 8.04%
Total # of holdings: 1018 as of 6/30/2015

Quarter-End Average Annual Total Returns

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AS OF 6/30/2015; *SUBACCOUNT INCEPTION 4/30/2012 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
1.01% AS OF 5/1/2015
1 Yr 3 Yr 5 Yr 10 Yr Life*
BlackRock Global Allocation V.I. Fund 1.10% 8.28% -- -- 6.77%
FTSE World Index 1.05% 13.96% 12.88% 7.05% --
S&P 500 7.42% 17.31% 17.34% 7.89% --
World Allocation -1.42% 6.72% 7.25% 4.47% --

© 2015 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.