Objectives and Approach

The Fund aims to achieve a total return on your investment, through a combination of capital growth and income, which reflects the return of the iBoxx Sterling NonGilt Index, the Fund’s benchmark index. The Fund invests predominantly in the fixed income (FI) securities (such as bonds) that make up the Fund’s benchmark index (which comprises Sterling denominated bonds excluding UK gilts). A gilt is a FI security such as a bond issued by the British Government. The FI securities may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development) domiciled in countries both in and outside the European Union and will be investment grade (i.e. meet a specified level of credit worthiness) at the time of purchase. If the credit rating of a FI security is downgraded, the Fund may continue to hold this, until it is practicable to sell the position. The benchmark index measures the performance of all domestic and eurobond securities, denominated in Sterling, with varying redemption dates (i.e. the date on which some, or all, of the principal amount and interest is repaid during the life of the security) and maturities (i.e. the time until the security becomes due for repayment) and credit ratings. The Fund uses techniques for efficient portfolio management purposes or to protect against exchange rate risk. These techniques may include the strategic selection of certain securities that make up the benchmark index or other FI securities which provide similar performance to certain constituent securities. They may also include the use of financial derivative instruments (i.e. investments the prices of which are based on one or more underlying assets). The Fund is passively managed. The investment manager has limited discretion to select the Fund’s investments and in doing so will take into consideration the Index. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties. This is used as a means of generating additional income and to off-set the costs of the Fund. The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of your investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield. The return on your investment in the Fund is directly related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”). The depositary of the Fund is J.P. Morgan SE – Dublin Branch. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the BlackRock Fixed Income Dublin Funds plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the BlackRock website at: www.blackrock.com or the iShares website at: www.ishares.com or by calling the International Investor Servicing team on +353 1612 3394.