497 1 e62103_497.htm SUPPLEMENT a62103.htm - Generated by SEC Publisher for SEC Filing

 

 

BlackRock Allocation Target Shares  BlackRock Strategic Risk Allocation Fund 
Series C Portfolio  BlackRock U.S. Opportunities Portfolio 
Series E Portfolio   
Series M Portfolio  BlackRock Funds II 
Series P Portfolio  BlackRock Aggressive Growth Prepared Portfolio 
Series S Portfolio  BlackRock Conservative Prepared Portfolio 
  BlackRock Core Bond Portfolio 
BlackRock Balanced Capital Fund, Inc.  BlackRock Emerging Markets Flexible Dynamic Bond Portfolio 
  BlackRock Dynamic High Income Portfolio 
BlackRock Basic Value Fund, Inc.  BlackRock Floating Rate Income Portfolio 
  BlackRock Global Dividend Portfolio 
BlackRock Bond Fund, Inc.  BlackRock GNMA Portfolio 
BlackRock Total Return Fund  BlackRock Growth Prepared Portfolio 
  BlackRock High Yield Bond Portfolio 
BlackRock California Municipal Series Trust  BlackRock Inflation Protected Bond Portfolio 
BlackRock California Municipal Bond Fund  BlackRock Low Duration Bond Portfolio 
  BlackRock Moderate Prepared Portfolio 
BlackRock Capital Appreciation Fund, Inc.  BlackRock Multi-Asset Income Portfolio 
  BlackRock Secured Credit Portfolio 
BlackRock CoRI Funds  BlackRock Strategic Income Opportunities Portfolio 
BlackRock CoRI 2015 Fund  BlackRock U.S. Government Bond Portfolio 
BlackRock CoRI 2017 Fund  LifePath® Active Retirement Portfolio 
BlackRock CoRI 2019 Fund  LifePath® Active 2020 Portfolio 
BlackRock CoRI 2021 Fund  LifePath® Active 2025 Portfolio 
BlackRock CoRI 2023 Fund  LifePath® Active 2030 Portfolio 
  LifePath® Active 2035 Portfolio 
BlackRock Emerging Markets Fund, Inc.  LifePath® Active 2040 Portfolio 
  LifePath® Active 2045 Portfolio 
BlackRock Equity Dividend Fund  LifePath® Active 2050 Portfolio 
  LifePath® Active 2055 Portfolio 
BlackRock EuroFund   
  BlackRock Funds III 
BlackRock Focus Growth Fund, Inc.  BlackRock ACWI ex-US Index Fund 
  BlackRock Bond Index Fund 
BlackRock FundsSM  BlackRock CoreAlpha Bond Fund 
BlackRock All-Cap Energy & Resources Portfolio  BlackRock Russell 1000® Index Fund 
BlackRock Commodity Strategies Fund  BlackRock S&P 500 Stock Fund 
BlackRock Disciplined Small Cap Core Fund LifePath® Retirement Portfolio 
BlackRock Emerging Market Allocation Portfolio  LifePath® 2020 Portfolio 
BlackRock Emerging Markets Dividend Fund  LifePath® 2025 Portfolio 
BlackRock Emerging Markets Long/Short Equity Fund  LifePath® 2030 Portfolio
BlackRock Energy & Resources Portfolio  LifePath® 2035 Portfolio 
BlackRock Exchange Portfolio  LifePath® 2040 Portfolio 
BlackRock Flexible Equity Fund  LifePath® 2045 Portfolio 
BlackRock Global Long/Short Credit Fund  LifePath® 2050 Portfolio 
BlackRock Global Long/Short Equity Fund  LifePath® 2055 Portfolio 
BlackRock Global Opportunities Portfolio  LifePath® Index Retirement Portfolio 
BlackRock Health Sciences Opportunities Portfolio  LifePath® Index 2020 Portfolio 
BlackRock International Opportunities Portfolio  LifePath® Index 2025 Portfolio 
BlackRock Macro Themes Fund  LifePath® Index 2030 Portfolio 
BlackRock Managed Volatility Portfolio  LifePath® Index 2035 Portfolio 
BlackRock Mid-Cap Growth Equity Portfolio  LifePath® Index 2040 Portfolio 
BlackRock Multi-Asset Real Return Fund   
BlackRock Multi-Manager Alternative Strategies Fund   
BlackRock Real Estate Securities Fund   
BlackRock Science & Technology Opportunities Portfolio   
BlackRock Small Cap Growth Equity Portfolio   

 
 

 

LifePath® Index 2045 Portfolio  BlackRock High Yield Portfolio 
LifePath® Index 2050 Portfolio  BlackRock Large Cap Core Portfolio 
LifePath® Index 2055 Portfolio  BlackRock Money Market Portfolio 
  BlackRock Total Return Portfolio 
BlackRock Global Allocation Fund, Inc.  BlackRock U.S. Government Bond Portfolio 
   
BlackRock Global SmallCap Fund, Inc.  BlackRock Series, Inc. 
  BlackRock International Fund 
BlackRock Index Funds, Inc.  BlackRock Small Cap Growth Fund II
BlackRock International Index Fund   
BlackRock Small Cap Index Fund  BlackRock Value Opportunities Fund, Inc. 
   
BlackRock Large Cap Series Funds, Inc.  BlackRock Variable Series Funds, Inc. 
BlackRock Large Cap Core Fund  BlackRock Basic Value V.I. Fund 
BlackRock Large Cap Core Plus Fund  BlackRock Capital Appreciation V.I. Fund 
BlackRock Large Cap Growth Fund  BlackRock Equity Dividend V.I. Fund 
BlackRock Large Cap Value Fund  BlackRock Global Allocation V.I. Fund 
BlackRock Large Cap Growth Retirement Portfolio  BlackRock Global Opportunities V.I. Fund 
BlackRock Large Cap Value Retirement Portfolio  BlackRock High Yield V.I. Fund 
BlackRock Large Cap Core Retirement Portfolio  BlackRock International V.I. Fund 
  BlackRock iShares® Alternative Strategies V.I. Fund 
BlackRock Latin America Fund, Inc.  BlackRock iShares® Dynamic Allocation V.I. Fund 
  BlackRock iShares® Dynamic Fixed Income V.I. Fund 
BlackRock Long-Horizon Equity Fund  BlackRock iShares® Equity Appreciation V.I. Fund 
  BlackRock Large Cap Core V.I. Fund 
BlackRock Mid Cap Value Opportunities Series, Inc.  BlackRock Large Cap Growth V.I. Fund 
BlackRock Mid Cap Value Opportunities Fund  BlackRock Large Cap Value V.I. Fund 
  BlackRock Managed Volatility V.I. Fund 
BlackRock Multi-State Municipal Series Trust  BlackRock Money Market V.I. Fund 
BlackRock New York Municipal Bond Fund  BlackRock S&P 500 Index V.I. Fund 
  BlackRock Total Return V.I. Fund 
BlackRock Municipal Bond Fund, Inc.  BlackRock U.S. Government Bond V.I. Fund 
BlackRock High Yield Municipal Fund  BlackRock Value Opportunities V.I. Fund 
BlackRock National Municipal Fund   
BlackRock Short-Term Municipal Fund  BlackRock World Income Fund, Inc. 
   
BlackRock Natural Resources Trust  Managed Account Series 
  BlackRock U.S. Mortgage Portfolio 
BlackRock Pacific Fund, Inc.  Global SmallCap Portfolio 
  Mid Cap Value Opportunities Portfolio 
BlackRock Series Fund, Inc.   
BlackRock Balanced Capital Portfolio   
BlackRock Capital Appreciation Portfolio   
BlackRock Global Allocation Portfolio   
   

(each, a “Fund” and collectively, the “Funds”)

Supplement dated January 2, 2015 to the
Statement of Additional Information of each Fund

Effective January 1, 2015, Part II of each Fund’s Statement of Additional Information is amended as follows:

The last paragraph under the section entitled “Purchase of Shares — Other Compensation to Selling Dealers” in Part II of each Fund’s current Statement of Additional Information is deleted in its entirety and replaced with the following:

As of the date of this SAI, as amended or supplemented from time to time, the following Service Organizations are receiving such payments: Ameriprise Financial Services, AXA Advisors, CCO Investment Services, Cetera Advisor Networks LLC, Cetera Advisors LLC, Cetera Financial Specialists LLC, Cetera Investment Services LLC, Citigroup Global Markets, Inc., Commonwealth Equity Services (Commonwealth Financial Network),

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FSC Securities Corporation, Investacorp, Inc., JP Morgan, LPL Financial Corporation, Merrill Lynch, MetLife Securities, Morgan Stanley Smith Barney, New England Securities Corporation, Northwestern Mutual Investment Services, LLC, PFS Investments, PNC Investments LLC, Raymond James, RBC Capital Markets, Royal Alliance Associates, SagePoint Financial, Santander Securities, LLC, Securities America, State Farm VP Management Corp., The Huntington Investment Co., Triad Advisors, Inc., UBS Financial Services, U.S. Bancorp Investments, Voya Financial Advisors, Inc., Voya Investments Distributor, LLC, Wells Fargo, Woodbury Financial Services, Inc. and/or broker dealers and other financial services firms under common control with the above organizations (or their successors or assignees). The level of payments made to these Service Organizations in any year will vary, may be limited to specific Funds or share classes, and normally will not exceed the sum of (a) 0.25% of such year’s Fund sales by that Service Organization and (b) 0.21% of the assets attributable to that Service Organization invested in a Fund. In certain cases, the payments described in the preceding sentence are subject to certain minimum payment levels. In addition, from time to time BRIL, BlackRock or certain of their affiliates may make fixed dollar amount payments to certain Service Organizations listed above that are not based on the value of the shares sold to, or held by, the Service Organization’s customers and may be different for different Service Organizations.

Shareholders should retain this Supplement for future reference.

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SAI-GLOBAL-0115SUP