The investment objective of the Fund is to replicate, to the extent possible, the performance of the FTSE TMX Canada Liquid Universe Capped Bond Index (the “Index”), net of expenses. Under normal market conditions, the Fund will primarily invest in securities of one or more exchange-traded funds managed by BlackRock Canada or an affiliate and/or Canadian fixed income securities. The Index consists of a well-diversified selection of investment-grade, liquid bonds issued domestically in Canada and denominated in Canadian dollars and is comprised of approximately 60% government bonds and 40% corporate bonds. The investment strategy of the Fund is to invest in and hold the constituent securities of the Index in substantially the same proportion as they are reflected in the Index or to invest in a manner that causes the Fund to replicate the performance of the Index.