-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Gxb9swAUNPX31LDa/6PWn/EVgkU6ggZZCj2o5MrD/FyMnKw6QnlIgbJYvg4iI8Ix agqcWC4ZdTrk1w6G1pgchg== 0000900092-09-001126.txt : 20091125 0000900092-09-001126.hdr.sgml : 20091125 20091125110830 ACCESSION NUMBER: 0000900092-09-001126 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091125 DATE AS OF CHANGE: 20091125 EFFECTIVENESS DATE: 20091125 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK EUROFUND CENTRAL INDEX KEY: 0000790525 IRS NUMBER: 226410940 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04612 FILM NUMBER: 091206801 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH EUROFUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH EUROPE TRUST DATE OF NAME CHANGE: 19861203 0000790525 S000002177 BLACKROCK EUROFUND C000005587 Investor A C000005588 Investor B C000005589 Investor C C000005590 Institutional C000005591 Class R C000038941 Institutional1 N-Q 1 eurofundmerged.htm EUROFUND eurofundmerged.htm - Produced by Pellegrini and Associates, Inc. | 134 Spring Street New York NY 10012 | (212) 925-5151

UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-04612

Name of Fund: BlackRock EuroFund

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock
EuroFund, 40 East 52nd Street, New York, NY 10022.

Registrant’s telephone number, including area code: (800) 441-7762

Date of fiscal year end: 06/30/2010

Date of reporting period: 09/30/2009

Item 1 – Schedule of Investments


BlackRock EuroFund     
Schedule of Investments September 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
Country  Common Stocks  Shares           Value 
Austria - 0.6%  Erste Bank der Oesterreichischen Sparkassen AG  64,507  $ 2,900,402 
Belgium - 1.4%  KBC Bancassurance Holding  133,249  6,737,267 
Finland - 3.3%  KCI Konecranes Oyj  211,143  6,036,035 
  Nokia Oyj  713,181  10,460,376 
      16,496,411 
France - 10.8%  Electricite de France SA  144,431  8,597,256 
  Eramet  17,825  6,206,428 
  European Aeronautic Defense and Space Co.  225,149  5,075,148 
  France Telecom SA  306,568  8,175,264 
  Sanofi-Aventis  168,801  12,448,370 
  Total SA  223,163  13,264,801 
      53,767,267 
Germany - 16.1%  Allianz AG Registered Shares  51,926  6,478,013 
  BASF SE  136,885  7,247,407 
  Bayer AG  82,041  5,678,715 
  Deutsche Bank AG Registered Shares  131,223  10,023,915 
  Deutsche Lufthansa AG  411,781  7,269,329 
  Deutsche Post AG  382,432  7,124,763 
  E.ON AG  334,618  14,162,838 
  HeidelbergCement AG  118,836  7,681,006 
  MAN SE  92,387  7,588,547 
  Porsche Automobil Holding SE (Preference Shares)  90,317  7,089,869 
      80,344,402 
Greece - 3.5%  EFG Eurobank Ergasias SA (a)  670,798  10,617,525 
  National Bank of Greece SA  186,686  6,737,668 
      17,355,193 
Italy - 6.6%  Enel SpA  1,516,354  9,644,971 
  Eni SpA  411,647  10,286,625 
  Unicredit SpA  3,329,524  13,068,011 
      32,999,607 
Netherlands - 3.7%  Heineken NV  199,251  9,238,249 
  ING Groep NV CVA  510,238  9,162,836 
      18,401,085 
Norway - 2.9%  DnB NOR ASA  525,442  6,117,956 
  StatoilHydro ASA  377,645  8,526,076 
      14,644,032 
Spain - 5.6%  Banco Bilbao Vizcaya Argentaria SA  255,095  4,544,400 
  Banco Santander SA  1,030,096  16,640,671 
  Telefonica SA  242,129  6,699,016 
      27,884,087 
Sweden - 1.2%  Autoliv, Inc.  173,683  5,854,415 
Switzerland - 12.3%  Nestle SA Registered Shares  433,698  18,514,854 
  Novartis AG Registered Shares  289,142  14,523,829 
  Petroplus Holdings AG  242,187  6,125,229 
  Roche Holding AG  40,704  6,581,376 
1


BlackRock EuroFund           
Schedule of Investments September 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
Country  Common Stocks      Shares    Value 
  Swiss Reinsurance Co. Registered Shares  182,703  $ 8,284,197 
  Zurich Financial Services AG      30,951    7,380,138 
            61,409,623 
United Kingdom -  BP Plc      2,334,092    20,677,126 
21.0%  Barclays Plc      1,781,829    10,559,757 
  British American Tobacco Plc      262,069    8,232,466 
  Cookson Group Plc      382,403    2,518,083 
  HSBC Holdings Plc      1,924,239    22,033,601 
  Land Securities Group Plc      645,844    6,466,509 
  Meggitt Plc      1,479,305    5,517,165 
  Tesco Plc      1,308,539    8,376,859 
  Vodafone Group Plc      7,264,460    16,319,285 
  Xstrata Plc      239,098    3,526,136 
            104,226,987 
  Total Common Stocks - 89.0%        443,020,778 
  Rights           
France - 0.1%  BNP Paribas SA (expires 10/13/09)    114,823    248,680 
Germany - 0.0%  HeidelbergCement AG (expires 10/07/09)  29,532    159,034 
  Total Rights - 0.1%          407,714 
  Total Long-Term Investments         
  (Cost - $362,569,045) - 89.1%        443,428,492 
  Short-Term Securities           
  BlackRock Liquidity Funds, TempFund, 0.20% (b)(c)  15,022,193    15,022,193 
  Total Short-Term Securities           
  (Cost - $15,022,193) - 3.0%          15,022,193 
  Total Investments           
  (Cost - $377,591,238*) - 92.1%        458,450,685 
  Other Assets Less Liabilities  - 7.9%       39,153,832 
  Net Assets - 100.0%        $ 497,604,517 
               * The cost and unrealized appreciation (depreciation) of investments as of September 30, 2009, as computed for 
                   federal income tax purposes, were as follows:           
                   Aggregate cost    $ 385,008,832       
                   Gross unrealized appreciation  $ 83,212,647       
                   Gross unrealized depreciation    (9,770,794)       
                   Net unrealized appreciation  $ 73,441,853       
           (a) Non-income producing security.           
           (b) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the   
                   Investment Company Act of 1940, were as follows:         
                   Affiliate      Net Activity  Income     
                   BlackRock Liquidity Funds, TempFund    6,470,267 $  5,935     
           (c) Represents the current yield as of report date.         
2


BlackRock EuroFund           
Schedule of Investments September 30, 2009 (Unaudited)       
               Ÿ Foreign currency exchange contracts as of September 30, 2009 were as follows:     
            Unrealized 
          Settlement  Appreciation 
Currency Purchased      Currency Sold       Counterparty  Date  (Depreciation) 
                   USD                           6,974,964  GBP  4,372,744  State Street Bank & Trust     
        Co.  10/02/09  $ (13,312) 
                   CHF                       15,536,536  USD  14,979,306  Brown Brothers Harriman     
        & Co.  10/05/09  13,526 
                   USD                           7,332,075  GBP  4,581,974  State Street Bank & Trust     
        Co.  10/05/09  9,519 
                   USD                           8,863,826  EUR  6,058,706  Goldman Sachs Bank USA  10/05/09  (2,134) 
                   GBP                       14,458,558  USD  23,687,600  State Street Bank & Trust     
        Co.  12/23/09  (586,139) 
                   USD                           4,737,500  CHF  4,846,699  State Street Bank & Trust     
        Co.  12/23/09  57,321 
                   USD                       18,950,000  EUR  12,804,054  State Street Bank & Trust     
        Co.  12/23/09  215,285 
                   Total            $ (305,934) 
               Ÿ Currency Abbreviations:           
                   CHF     Swiss Franc           
                   EUR     Euro           
                   GBP     British Pound           
                   USD     US Dollar           
Ÿ Fair Value Measurements -- Various inputs are used in determining the fair value of investments, which are as follows: 
         
  Ÿ Level 1 - price quotations in active markets/exchanges for identical securities   
  Ÿ Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities 
  in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not 
  active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, 
  yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market- 
  corroborated inputs)           
  Ÿ Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent 
  observable inputs are not available (including the Fund's own assumptions used in determining the fair value 
  of investments)           
                             The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with 
                              investing in those securities. For information about the Fund's policy regarding valuation of investments and other 
                              significant accounting policies, please refer to the Fund's most recent financial statements as contained in its semi- 
                              annual report.           
3


BlackRock EuroFund       
Schedule of Investments September 30, 2009 (Unaudited)       
The following table summarizes the inputs used as of September 30, 2009
                                       in determining the fair valuation of the Fund's investments:   
    Investments in   
                                       Valuation Inputs    Securities   
    Assets   
                                       Level 1       
                                       Long-Term Investments       
                                             France  $ 248,680   
                                             Germany    159,034   
                                       Short-Term Securities    15,022,193   
                                       Total Level 1    15,429,907   
                                       Level 2       
                                       Long-Term Investments       
                                             Austria    2,900,402   
                                             Belgium    6,737,267   
                                             Finland    16,496,411   
                                             France    53,767,267   
                                             Germany    80,344,402   
                                             Greece    17,355,193   
                                             Italy    32,999,607   
                                             Netherlands    18,401,085   
                                             Norway    14,644,032   
                                             Spain    27,884,087   
                                             Sweden    5,854,415   
                                             Switzerland    61,409,623   
                                             United Kingdom    104,226,987   
                                       Total Level 2    443,020,778   
                                       Level 3    -   
                                       Total  $ 458,450,685   
                                       Valuation Inputs    Other Financial Instruments1 
    Assets  Liabilities 
                                       Level 1    -  - 
                                       Level 2  $ 295,651  $ (601,585) 
                                       Level 3    -  - 
                                       Total  $ 295,651  $ (601,585) 
                                       1 Other financial instruments are foreign currency exchange contracts which are shown at 
                                       the unrealized appreciation/depreciation on the instrument.   
  4     


Item 2 – Controls and Procedures

2(a) – The registrant's principal executive and principal financial officers or persons performing
similar functions have concluded that the registrant's disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the
“1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the
evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
and Rule 15(d)-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) – There were no changes in the registrant's internal control over financial reporting (as defined
in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter
that have materially affected, or are reasonably likely to materially affect, the registrant's
internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

BlackRock EuroFund

By: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer of
BlackRock EuroFund

Date: November 20, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the dates indicated.

By: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer (principal executive officer) of
BlackRock EuroFund

Date: November 20, 2009

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock EuroFund

Date: November 20, 2009


EX-99.CERT 2 eurofundex99cert.htm CERT eurofundex99cert.htm - Produced by Pellegrini and Associates, Inc. | 134 Spring Street New York NY 10012 | (212) 925-5151

EX-99.CERT
CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002

I, Anne F. Ackerley, Chief Executive Officer (principal executive officer) of BlackRock EuroFund, certify that:

1. I have reviewed this report on Form N-Q of BlackRock EuroFund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made,
not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects
the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in
which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee
of the registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

Date: November 20, 2009

/s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer (principal executive officer) of
BlackRock EuroFund


EX-99.CERT
CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002

I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock EuroFund, certify that:

1. I have reviewed this report on Form N-Q of BlackRock EuroFund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made,
not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects
the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in
which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee
of the registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

Date: November 20, 2009

/s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock EuroFund


-----END PRIVACY-ENHANCED MESSAGE-----