Summary

• BlackRock Advantage Global Fund posted returns of 1.83% (Institutional shares) and 1.77% (Investor A shares, without sales charge) for the first quarter of 2026.
• The fund's outperformance of its benchmark was primarily driven by macro-thematic insights, followed by sentiment insights, with additional support from valuation and quality measures.
• From a sector- and country-positioning perspective, the fund remained largely neutral.

Inst: MAGCX A: MDGCX C: MCGCX R: MRGSX ¹ K: MKGCX

Commentary as of 03/31/26

• The fund posted returns of 1.83% (Institutional shares)(MAGCX) and 1.77% (Investor A shares, without sales charge)(MDGCX