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Table of Contents FEBRUARY 22, 2016, PROSPECTUS BlackRock Funds SM Investor and Institutional Shares BlackRock Emerging Markets Equity Strategies Fund Investor A: BE FAX Investor C: BEACH Institutional:

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What is befcx?

The acronym BEFCX stands for Business Entity Financial Crimes Examination.

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The purpose of BEFCX is to identify and prevent financial crimes within business entities.

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BEFCX requires information on the financial activities and transactions of the business entity.

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