Mutual Fund Summary Prospectus (497k)
February 04 2013 - 12:33PM
Edgar (US Regulatory)
JANUARY 28, 2013
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SUMMARY
PROSPECTUS
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BlackRock Large Cap Series Funds,
Inc.
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Class K Shares
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BlackRock Large Cap Growth Retirement Portfolio
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Class K: MKLHX
Before you invest, you may want to review the Funds prospectus, which contains more information about the Fund and its risks. You can find the
Funds prospectus (including amendments and supplements) and other information about the Fund, including the Funds statement of additional information and shareholder report, online at http://www.blackrock.com/prospectus. You can
also get this information at no cost by calling (800) 441-7762 or by sending an e-mail request to
prospectus.request@blackrock.com
, or from your financial professional. The Funds prospectus and statement of additional information, both
dated January 28, 2013, as amended and supplemented from time to time, are incorporated by reference into (legally made a part of) this Summary Prospectus.
This Summary Prospectus contains information you should know before investing,
including information about risks. Please read it before you invest and keep it for future reference.
The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this Summary Prospectus. Any representation to the contrary is a criminal offense.
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Not FDIC Insured May Lose Value No Bank Guarantee
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Summary Prospectus
Key Facts About BlackRock Large Cap Growth Retirement Portfolio
Investment Objective
The investment objective of BlackRock Large Cap Growth Retirement Portfolio
(Retirement Growth Fund or the Fund), a series of BlackRock Large Cap Series Funds, Inc. (the Corporation), is to seek long-term capital growth. In other words, the Fund tries to choose investments that will
increase in value.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold Class
K Shares of Retirement Growth Fund.
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Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
1
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Class K
Shares
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Management Fee
1
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0.50%
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Distribution and/or Service (12b-1) Fees
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None
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Other Expenses
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0.20%
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Total Annual Fund Operating Expenses
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0.70%
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Fee Waivers and/or Expense Reimbursements
2
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(0.03)%
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Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements
2
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0.67%
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1
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The fees and expenses shown in the table and the example that follows include both the expenses of Retirement Growth Fund and Retirement Growth Funds share
of the allocated expenses of Master Large Cap Growth Portfolio (Master Growth Portfolio or the Portfolio), a series of Master Large Cap Series LLC. Management Fees are paid by Master Growth Portfolio.
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2
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As described in the Management of the Funds section of the Funds prospectus on pages 23-27, BlackRock Advisors, LLC (BlackRock) has
contractually agreed to waive and/or reimburse fees and/or expenses with respect to Retirement Growth Fund in order to limit Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements (excluding Dividend Expense, Interest
Expense, Acquired Fund Fees and Expenses and certain other Fund expenses) to 0.67% of average daily net assets until February 1, 2014. The agreement may be terminated upon 90 days notice by a majority of the non-interested directors of the
Corporation or by a vote of a majority of the outstanding voting securities of the Fund.
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Example:
This Example is intended to help you compare the cost of investing in the Fund with the cost of
investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5%
return each year and that the Funds operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
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1 Year
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3 Years
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5 Years
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10 Years
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Class K Shares
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$
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68
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$
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221
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$
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387
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$
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868
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Portfolio Turnover:
The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover
may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Portfolios performance. During
the most recent fiscal year, the Portfolios portfolio turnover rate was 132% of the average value of its portfolio.
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Principal Investment Strategies of the Fund
Retirement Growth Fund seeks to achieve its objective by investing at least 80% of its assets in equity securities, primarily common stock, of large cap companies located in the United States that BlackRock selects
from among those that are, at the time of purchase, included in the Funds benchmark, the Russell 1000
®
Growth Index. Equity securities consist primarily of common
stock, preferred stock, securities convertible into common stock and securities or other instruments whose price is linked to the value of common stock. Large cap companies are companies that at the time of purchase have a market capitalization
equal to or greater than the top 80% of the companies that comprise the Russell 1000
®
Index. As of June 22, 2012, the most recent rebalance date, the lowest market
capitalization in this group was $1.4 billion. The market capitalizations of companies in the index change with market conditions and the composition of the index.
The Fund is a feeder fund that invests all of its assets in Master Growth
Portfolio, which has the same investment objective and strategies as the Fund. All investments are made at the Portfolio level. This structure is sometimes called a master/feeder structure. The Funds investment results will
correspond directly to the investment results of the Portfolio. For simplicity, the prospectus uses the terms Retirement Growth Fund or Fund (as applicable) to include the Portfolio.
Principal Risks of Investing in the Fund
Risk is
inherent in all investing. The value of your investment in Retirement Growth Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose part or all of your investment
in the Fund or your investment may not perform as well as other similar investments. The following is a summary description of principal risks of investing in the Fund.
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Equity Securities Risk
Stock markets are volatile. The price of equity securities fluctuates based on changes in a companys financial
condition and overall market and economic conditions.
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Investment Style Risk
Under certain market conditions, growth investments have performed better during the later stages of economic
expansion. Therefore, this investment style may over time go in and out of favor. At times when the investment style used by the Fund is out of favor, the Fund may underperform other equity funds that use different investment styles.
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Market Risk and Selection Risk
Market risk is the risk that one or more markets in which the Fund invests will go down in value, including
the possibility that the markets will go down sharply and unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the securities selected by other funds with
similar investment objectives and investment strategies. This means you may lose money.
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Performance Information
The returns for Class K Shares of Retirement Growth Fund prior to their inception date
of January 3, 2008 are based upon the performance of Institutional Shares of BlackRock Large Cap Growth Fund, a series of the Corporation which is also a feeder fund into Master Growth Portfolio. The returns shown are adjusted to reflect the
annual fund operating expenses of Class K Shares of the Fund.
The information shows you how the Funds performance has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Class K Share performance to that of the
Russell 1000
®
Growth Index. As with all such investments, past performance is not an indication of future results. Sales charges are not reflected in the bar chart. If
they were, returns would be less than those shown. However, the table includes all applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the Funds return
would have been lower. Updated information on the Funds results can be obtained by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052.
Class K Shares
ANNUAL TOTAL RETURNS
1
Retirement Growth Fund
As
of 12/31
During the ten-year period shown in the bar chart,
the highest return for a quarter was 18.79% (quarter ended March 31, 2012) and the lowest return for a quarter was 19.24% (quarter ended September 30, 2011).
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As of 12/31/12
Average Annual Total Returns
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1 Year
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5 Years
1
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10 Years
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BlackRock Large Cap Retirement Growth Portfolio Class K Shares
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19.26
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%
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2.58
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%
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8.17
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%
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Russell 1000
®
Growth Index
(Reflects no deduction for fees, expenses or taxes)
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15.26
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%
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3.12
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%
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7.52
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%
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1
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A portion of the Funds total return was attributable to proceeds received in the fiscal period ended September 30, 2009 in a settlement of litigation.
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After-tax returns are calculated using the historical
highest individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investors tax situation and may differ from those shown, and the after-tax returns shown are
not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Investment Manager
Retirement Growth Funds investment manager is BlackRock Advisors, LLC
(previously defined as BlackRock). The Funds sub-adviser is BlackRock Investment Management, LLC (the Sub-Adviser). Where applicable, BlackRock refers also to the Sub-Adviser.
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Portfolio Managers
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Name
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Portfolio Manager of the Fund Since
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Title
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Chris Leavy, CFA
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2012
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Managing Director of BlackRock, Inc. and Chief Investment Officer of Fundamental Equity (Americas).
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Peter Stournaras, CFA
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2010
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Managing Director of BlackRock, Inc.
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Purchase and Sale of Fund Shares
Class K
Shares of the Fund are available only to (i) qualified recordkeepers with a distribution and/or fund servicing agreement (establishing an omnibus trading relationship) maintained with the Funds distributor, or (ii) defined benefit
plans, defined contribution plans, endowments and foundations with greater than $10 million in a qualified tax-exempt plan, or (iii) employers with greater than $10 million in the aggregate between qualified and non-qualified plans that they
sponsor (collectively, Institutions). You may purchase or redeem shares of the Fund each day the New York Stock Exchange is open. Class K Shares are normally purchased through a customers account at an Institution through
procedures established by such Institution. The Funds initial minimum investment for Class K Shares is $1. The minimum investment for additional purchases is $1.
Tax Information
Because of
the special tax rules applicable to investments by qualified plans exempt from tax under section 401(a) of the Internal Revenue Code of 1986, as amended (the Internal Revenue Code), if you are invested through such a plan, you will not
be taxed on dividends paid by the Fund or on the proceeds of a redemption or an exchange of shares of the Fund, provided the shares are not debt-financed property to you. Different tax consequences apply to a shareholder that does not satisfy the
requirements of Section 401(a) or 501(a) of the Internal Revenue Code.
Payments to Broker/Dealers and Other Financial Intermediaries
If you purchase shares of the Fund through a broker-dealer or other financial
intermediary, the Fund and BlackRock Investments, LLC, the Funds distributor, or its affiliates may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the
broker-dealer or other financial intermediary and your individual financial professional to recommend the Fund over another investment. Ask your individual financial professional or visit your financial intermediarys website for more
information.
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INVESTMENT COMPANY ACT FILE # 811-09637
BlackRock Large Cap Growth Retirement Portfolio Class K
SPRO-RLCG-0113
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