0000891092-15-002981.txt : 20150402 0000891092-15-002981.hdr.sgml : 20150402 20150402161700 ACCESSION NUMBER: 0000891092-15-002981 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20150402 DATE AS OF CHANGE: 20150402 EFFECTIVENESS DATE: 20150402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST CENTRAL INDEX KEY: 0000353281 IRS NUMBER: 136797398 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-78646 FILM NUMBER: 15747815 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: FINANCIAL INSTITUTIONS SERIES TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BIF TREASURY FUND CENTRAL INDEX KEY: 0000869311 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-37439 FILM NUMBER: 15747817 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: BIF TREASURY MONEY FUND DATE OF NAME CHANGE: 20100618 FORMER COMPANY: FORMER CONFORMED NAME: CMA TREASURY MONEY FUND DATE OF NAME CHANGE: 19930723 FORMER COMPANY: FORMER CONFORMED NAME: CMA TREASURY FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BBIF TAX EXEMPT FUND CENTRAL INDEX KEY: 0001186235 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-99391 FILM NUMBER: 15747822 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: WCMA TAX EXEMPT FUND DATE OF NAME CHANGE: 20080904 FORMER COMPANY: FORMER CONFORMED NAME: WCMA TAX EXEMPT FUND DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK ALLOCATION TARGET SHARES CENTRAL INDEX KEY: 0001221845 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-109980 FILM NUMBER: 15747830 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: BLACKROCK BOND ALLOCATION TARGET SHARES DATE OF NAME CHANGE: 20030306 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK NATURAL RESOURCES TRUST CENTRAL INDEX KEY: 0000766555 IRS NUMBER: 136857277 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-97095 FILM NUMBER: 15747835 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 NATURAL RESOURCES TRUST / DATE OF NAME CHANGE: 20001031 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL RESOURCES TRUST / DATE OF NAME CHANGE: 19940325 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH NATURAL RESOURCES TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Capital Appreciation Fund, Inc. CENTRAL INDEX KEY: 0000887509 IRS NUMBER: 223186366 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-47875 FILM NUMBER: 15747846 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: BLACKROCK FUNDAMENTAL GROWTH FUND, INC. DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH FUNDAMENTAL GROWTH FUND INC DATE OF NAME CHANGE: 19920929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK BOND FUND, INC. CENTRAL INDEX KEY: 0000276463 IRS NUMBER: 132949519 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-62329 FILM NUMBER: 15747848 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 BOND FUND INC DATE OF NAME CHANGE: 20030804 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH CORPORATE BOND FUND INC/NY DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH HIGH INCOME FUND INC - CORRECTED NAME CHANGE DATE OF NAME CHANGE: 19600201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK BASIC VALUE FUND, INC. CENTRAL INDEX KEY: 0000216557 IRS NUMBER: 132895755 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-58521 FILM NUMBER: 15747849 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 BASIC VALUE FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK BALANCED CAPITAL FUND, INC. CENTRAL INDEX KEY: 0000110055 IRS NUMBER: 132757134 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-49007 FILM NUMBER: 15747810 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 08536 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 08536 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH BALANCED CAPITAL FUND INC DATE OF NAME CHANGE: 20051214 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH BALANCE CAPITAL FUND INC DATE OF NAME CHANGE: 20000831 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH CAPITAL FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ready Assets U.S. Treasury Money Fund CENTRAL INDEX KEY: 0000869663 IRS NUMBER: 223095131 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-37537 FILM NUMBER: 15747813 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 U S TREASURY MONEY FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH TREASURY ASSETS FUND DATE OF NAME CHANGE: 19910331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BIF TAX EXEMPT FUND/ CENTRAL INDEX KEY: 0000320281 IRS NUMBER: 136789904 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-69877 FILM NUMBER: 15747818 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: CMA TAX EXEMPT FUND/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: CMA TAX EXEMPT TRUST DATE OF NAME CHANGE: 19910505 FORMER COMPANY: FORMER CONFORMED NAME: CMA TAX EXEMPT FUND DATE OF NAME CHANGE: 19870802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BBIF TREASURY FUND CENTRAL INDEX KEY: 0001186237 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-99389 FILM NUMBER: 15747821 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: WCMA TREASURY FUND DATE OF NAME CHANGE: 20080904 FORMER COMPANY: FORMER CONFORMED NAME: WCMA TREASURY FUND DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Variable Series Funds, Inc. CENTRAL INDEX KEY: 0000355916 IRS NUMBER: 133093080 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-74452 FILM NUMBER: 15747826 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: FAM Variable Series Funds, Inc. DATE OF NAME CHANGE: 20050720 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH VARIABLE SERIES FUNDS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK PACIFIC FUND, INC. CENTRAL INDEX KEY: 0000202741 IRS NUMBER: 132866632 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-56978 FILM NUMBER: 15747828 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 PACIFIC FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NOMURA CAPITAL FUND OF JAPAN INC DATE OF NAME CHANGE: 19800819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Value Opportunities Fund, Inc. CENTRAL INDEX KEY: 0000230382 IRS NUMBER: 132928561 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-60836 FILM NUMBER: 15747833 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGNTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGNTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: Merrill Lynch Value Opportunities Fund, Inc. DATE OF NAME CHANGE: 20040726 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH SMALL CAP VALUE FUND INC DATE OF NAME CHANGE: 20000628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK SERIES, INC. CENTRAL INDEX KEY: 0001062806 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-56203 FILM NUMBER: 15747834 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 09809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 09809 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY FUNDS INC DATE OF NAME CHANGE: 20010827 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY ASSET MANAGEMENT FUNDS INC DATE OF NAME CHANGE: 19980714 FORMER COMPANY: FORMER CONFORMED NAME: MERCURY ALPHA FUND INC DATE OF NAME CHANGE: 19980601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNICIPAL BOND FUND, INC. CENTRAL INDEX KEY: 0000225635 IRS NUMBER: 132896246 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-57354 FILM NUMBER: 15747837 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 MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ONE LIBERTY MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19780622 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MID CAP VALUE OPPORTUNITIES SERIES INC. CENTRAL INDEX KEY: 0000918848 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-53887 FILM NUMBER: 15747839 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: ASSET PROGRAM INC DATE OF NAME CHANGE: 20000203 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH ASSET BUILDER PROGRAM INC DATE OF NAME CHANGE: 19990331 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH RETIREMENT ASSET BUILDER PROGRAM INC DATE OF NAME CHANGE: 19940531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FOCUS GROWTH FUND, INC. CENTRAL INDEX KEY: 0001097293 IRS NUMBER: 223711535 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-89775 FILM NUMBER: 15747845 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: BLACKROCK FOCUS Growth FUND, INC. DATE OF NAME CHANGE: 20071219 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK FOCUS TWENTY FUND, INC. DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH FOCUS TWENTY FUND INC DATE OF NAME CHANGE: 19991118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Long-Horizon Equity Fund CENTRAL INDEX KEY: 0001324285 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0418 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-124372 FILM NUMBER: 15747803 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: BLACKROCK LONG-HORIZON EQUITY FUND DATE OF NAME CHANGE: 20121015 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock Global Dynamic Equity Fund DATE OF NAME CHANGE: 20061002 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock Global Dynamic Equity Opportunities Fund DATE OF NAME CHANGE: 20061002 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ready Assets USA Government Money Fund CENTRAL INDEX KEY: 0000704957 IRS NUMBER: 136811522 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-78702 FILM NUMBER: 15747812 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 USA GOVERNMENT RESERVES DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Series Fund, Inc. CENTRAL INDEX KEY: 0000319108 IRS NUMBER: 133051800 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-69062 FILM NUMBER: 15747825 BUSINESS ADDRESS: STREET 1: 100 BELEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: FAM Series Fund, Inc. DATE OF NAME CHANGE: 20050720 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH SERIES FUNDS INC DATE OF NAME CHANGE: 20000229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK LARGE CAP SERIES FUNDS, INC. CENTRAL INDEX KEY: 0001097077 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-89389 FILM NUMBER: 15747841 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 LARGE CAP SERIES FUNDS INC DATE OF NAME CHANGE: 19991018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock CoRI Funds CENTRAL INDEX KEY: 0001582739 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-190251 FILM NUMBER: 15747802 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 1-800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Managed Account Series CENTRAL INDEX KEY: 0001323737 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0412 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-124463 FILM NUMBER: 15747805 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: READY ASSETS PRIME MONEY FUND CENTRAL INDEX KEY: 0000065109 IRS NUMBER: 036673653 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-52711 FILM NUMBER: 15747814 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 READY ASSETS TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: EDIE LIONEL D READY ASSETS TRUST DATE OF NAME CHANGE: 19760810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BBIF MONEY FUND CENTRAL INDEX KEY: 0001186231 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-99387 FILM NUMBER: 15747824 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: WCMA MONEY FUND DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK GLOBAL SMALLCAP FUND, INC. CENTRAL INDEX KEY: 0000922457 IRS NUMBER: 223310365 STATE OF INCORPORATION: MD FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-53399 FILM NUMBER: 15747842 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 GLOBAL SMALLCAP FUND INC DATE OF NAME CHANGE: 19941019 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH SMALLCAP WORLD FUND INC DATE OF NAME CHANGE: 19940429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FDP Series, Inc. CENTRAL INDEX KEY: 0001321652 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-123779 FILM NUMBER: 15747807 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK EUROFUND CENTRAL INDEX KEY: 0000790525 IRS NUMBER: 226410940 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-04026 FILM NUMBER: 15747808 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK INDEX FUNDS, INC. CENTRAL INDEX KEY: 0001026144 IRS NUMBER: 223483675 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-15265 FILM NUMBER: 15747831 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 INDEX FUNDS INC DATE OF NAME CHANGE: 19961031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Funds III CENTRAL INDEX KEY: 0000893818 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-54126 FILM NUMBER: 15747832 BUSINESS ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 8006439691 MAIL ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: BARCLAYS GLOBAL INVESTORS FUNDS DATE OF NAME CHANGE: 20060201 FORMER COMPANY: FORMER CONFORMED NAME: BARCLAYS GLOBAL INVESTORS FUNDS INC DATE OF NAME CHANGE: 19990804 FORMER COMPANY: FORMER CONFORMED NAME: MASTERWORKS FUNDS INC DATE OF NAME CHANGE: 19960607 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MULTI STATE MUNICIPAL SERIES TRUST CENTRAL INDEX KEY: 0000774013 IRS NUMBER: 226437104 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-99473 FILM NUMBER: 15747838 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 MULTI STATE MUNICIPAL SERIES TRUST DATE OF NAME CHANGE: 20051212 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH N Y MUNI BD FD OF M L MULTI ST MUNI SER TRUST DATE OF NAME CHANGE: 19930225 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH MULTI STATE TAX EXEMPT SERIES TRUST DATE OF NAME CHANGE: 19871206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK GLOBAL ALLOCATION FUND, INC. CENTRAL INDEX KEY: 0000834237 IRS NUMBER: 222937779 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-22462 FILM NUMBER: 15747804 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 GLOBAL ALLOCATION FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL INCOME FUND INC DATE OF NAME CHANGE: 19890706 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BBIF GOVERNMENT SECURITIES FUND CENTRAL INDEX KEY: 0001186233 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-99395 FILM NUMBER: 15747823 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: WCMA GOVERNMENT SECURITIES FUND DATE OF NAME CHANGE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Funds II CENTRAL INDEX KEY: 0001398078 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-142592 FILM NUMBER: 15747829 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: BlackRock Fixed Income Trust DATE OF NAME CHANGE: 20070501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK LATIN AMERICA FUND, INC. 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SERVICE CMFXX C000004138 INVESTOR A CNJXX 0000844779 S000001524 BLACKROCK NC MUNI MONEY MARKET PORTFOLIO C000004139 INVESTOR C C000004140 INSTITUTIONAL PNCXX C000004141 SERVICE CNCXX C000004142 INVESTOR A CNAXX C000004143 INVESTOR B BCBXX 0000844779 S000001525 BLACKROCK OHIO MUNI MONEY MARKET PORTFOLIO C000004144 INVESTOR B C000004145 INVESTOR C C000004146 INSTITUTIONAL COIXX C000004147 SERVICE POSXX C000004148 INVESTOR A COHXX 0000844779 S000001526 BLACKROCK PA MUNI MONEY MARKET PORTFOLIO C000004149 INVESTOR B C000004150 INVESTOR C C000004151 INSTITUTIONAL PPIXX C000004152 SERVICE PNSXX C000004153 INVESTOR A PENXX 0000844779 S000001527 BLACKROCK VA MUNI MONEY MARKET PORTFOLIO C000004154 INVESTOR B C000004155 INVESTOR C C000004156 INSTITUTIONAL PVIXX C000004157 SERVICE VASXX C000004158 INVESTOR A BVAXX 0000844779 S000001869 BLACKROCK ALL-CAP ENERGY & RESOURCES PORTFOLIO C000004872 BLACKROCK C000004873 INSTITUTIONAL BACIX C000004874 SERVICE BACSX C000004875 INVESTOR A BACAX C000004876 INVESTOR B BACBX C000004877 INVESTOR C BACCX C000037654 R Shares 0000844779 S000001870 BLACKROCK MANAGED VOLATILITY PORTFOLIO C000004878 INSTITUTIONAL PBAIX C000004879 SERVICE PCBSX C000004880 INVESTOR A PCBAX C000004881 INVESTOR B CBIBX C000004882 INVESTOR C BRBCX C000037655 R Shares 0000844779 S000001871 BLACKROCK FLEXIBLE EQUITY FUND C000004883 INSTITUTIONAL CMVIX C000004884 SERVICE CMVSX C000004885 INVESTOR A BMCAX C000004886 INVESTOR B BMCVX C000004887 INVESTOR C BMCCX C000037656 R Shares 0000844779 S000001875 BLACKROCK ENERGY & RESOURCES PORTFOLIO C000004902 INSTITUTIONAL SGLSX C000004903 SERVICE SSRGX C000004904 INVESTOR A SSGRX C000004905 INVESTOR B SSGPX C000004906 INVESTOR C SSGDX C000037659 R Shares 0000844779 S000001877 BLACKROCK HEALTH SCIENCES OPPORTUNITIES PORTFOLIO C000004912 INSTITUTIONAL SHSSX C000004913 SERVICE SHISX C000004914 INVESTOR A SHSAX C000004915 INVESTOR B SHSPX C000004916 INVESTOR C SHSCX C000037661 R Shares 0000844779 S000001878 BLACKROCK EXCHANGE PORTFOLIO C000004917 BLACKROCK STSEX 0000844779 S000008399 BLACKROCK GLOBAL OPPORTUNITIES PORTFOLIO C000023028 INSTITUTIONAL CLASS C000023029 SERVICE CLASS C000023030 INVESTOR A CLASS C000023031 INVESTOR B CLASS C000023032 INVESTOR C CLASS C000037670 R Shares 0000844779 S000030675 BlackRock Emerging Markets Dividend Fund C000095059 Investor A Shares C000095060 Investor C Shares C000095061 Institutional Shares 0000844779 S000033600 BlackRock Global Long/Short Credit Fund C000103247 Investor A Shares C000103248 Investor C Shares C000103249 Institutional Shares 0000844779 S000033601 BlackRock Commodity Strategies Fund C000103250 Investor A Shares C000103251 Investor C Shares C000103252 Institutional Shares 0000844779 S000033603 BlackRock Emerging Markets Long/Short Equity Fund C000103256 Investor A Shares C000103257 Investor C Shares C000103258 Institutional Shares 0000844779 S000038448 BlackRock Real Estate Securities Fund C000118599 Investor A Shares C000118600 Investor C Shares C000118601 Institutional Shares C000118602 Class K 0000844779 S000038549 BlackRock Short-Term Treasury Fund C000119002 Institutional Daily Shares C000119003 Institutional Shares 0000844779 S000038550 BlackRock Short Obligations Fund C000119004 BlackRock Shares C000129315 Institutional Shares 0000844779 S000038551 BlackRock Ultra-Short Obligations Fund C000119005 BlackRock Shares C000129316 Institutional Shares 0000844779 S000039460 BlackRock Global Long/Short Equity Fund C000121567 Institutional Shares C000121568 Investor A Shares C000121569 Investor C Shares 0000844779 S000039483 BlackRock Multi-Asset Real Return Fund C000121615 Institutional Shares C000121616 Investor A Shares C000121617 Investor C Shares 0000844779 S000039515 BlackRock Strategic Risk Allocation Fund C000121711 Institutional Shares C000121712 Investor A Shares C000121713 Investor C Shares 0000844779 S000039982 BlackRock Disciplined Small Cap Core Fund C000124019 Institutional Shares C000124020 Investor A Shares C000124021 Investor C Shares 0000844779 S000040403 BlackRock Emerging Market Allocation Portfolio C000125531 Institutional Shares C000125532 Investor A Shares C000125533 Investor C Shares 0000844779 S000043623 BlackRock Multi-Manager Alternative Strategies Fund C000135248 Institutional Shares C000135249 Investor A Shares C000135250 Investor C Shares 0000844779 S000047066 BlackRock Macro Themes Fund C000147135 Institutional C000147136 Investor A C000147137 Investor C 0000849402 S000002250 BLACKROCK EMERGING MARKETS FUND, INC. C000005814 Investor A C000005815 Investor B C000005816 Investor C C000005817 Institutional 0000869311 S000002956 BIF TREASURY FUND C000008089 BIF TREASURY FUND 0000869663 S000002606 READY ASSETS U S TREASURY MONEY FUND C000007155 READY ASSETS U S TREASURY MONEY FUND 0000877151 S000002247 BLACKROCK LATIN AMERICA FUND, INC. C000005800 Investor A C000005801 Investor B C000005802 Investor C C000005803 Institutional 0000887509 S000002520 BLACKROCK CAPITAL APPRECIATION FUND, INC. C000006952 Investor A C000006953 Investor B C000006954 Investor C C000006955 Institutional C000006956 Class R C000088417 BlackRock Shares 0000893818 S000004270 BlackRock Bond Index Fund C000011974 Class K Shares WFBIX C000099166 Investor A Shares C000099167 Institutional Shares 0000893818 S000004272 BlackRock S&P 500 Stock Fund C000011979 Class K Shares WFSPX C000117725 Investor A Shares C000117726 Institutional Shares C000117727 Investor C1 Shares C000117728 Service Shares 0000893818 S000004277 BlackRock LifePath 2020 Portfolio C000011995 Investor A Shares LPRCX C000011996 Institutional Shares STLCX C000051480 Class K LPSCX C000082486 Class R Shares LPRMX C000088832 Investor C Shares LPCMX 0000893818 S000004278 BlackRock LifePath 2030 Portfolio C000011997 Investor A Shares LPRDX C000011998 Institutional Shares STLDX C000051481 Class K LPSDX C000082487 Class R Shares LPRNX C000088835 Investor C Shares LPCNX 0000893818 S000004279 BlackRock LifePath 2040 Portfolio C000011999 Investor A Shares LPREX C000012000 Institutional Shares STLEX C000051482 Class K LPSFX C000082488 Class R Shares LPRKX C000088838 Investor C Shares LPCKX 0000893818 S000004280 BlackRock LifePath Retirement Portfolio C000012001 Investor A Shares LPRAX C000012002 Institutional Shares STLAX C000051483 Class K LPSAX C000082489 Class R Shares LPRRX C000088841 Investor C Shares LPCRX 0000893818 S000022024 BlackRock Lifepath 2050 Portfolio C000063260 Investor A Shares LPRFX C000063261 Institutional Shares STLFX C000063262 Class K LPSGX C000082490 Class R Shares LPRPX C000088844 Investor C Shares LPCPX 0000893818 S000026183 BlackRock CoreAlpha Bond Fund C000078564 Institutional Shares C000116201 Investor A Shares C000116202 Investor C Shares 0000893818 S000029259 BlackRock LifePath 2025 Portfolio C000089947 Investor A Shares LPBAX C000089948 Investor C Shares LPBCX C000089949 Institutional Shares LPBIX C000089950 Class K Shares LPBKX C000089951 Class R Shares LPBRX 0000893818 S000029260 BlackRock LifePath 2035 Portfolio C000089952 Class R Shares LPJRX C000089953 Investor A Shares LPJAX C000089954 Investor C Shares LPJCX C000089955 Institutional Shares LPJIX C000089956 Class K Shares LPJKX 0000893818 S000029261 BlackRock LifePath 2045 Portfolio C000089957 Investor A Shares LPHAX C000089958 Investor C Shares LPHCX C000089959 Institutional Shares LPHIX C000089960 Class K Shares LPHKX C000089961 Class R Shares LPHRX 0000893818 S000029262 BlackRock LifePath 2055 Portfolio C000089962 Investor A Shares LPVAX C000089963 Investor C Shares LPVCX C000089964 Institutional Shares LPVIX C000089965 Class K Shares LPVKX C000089966 Class R Shares LPVRX 0000893818 S000031723 BlackRock Russell 1000 Index Fund C000098723 Investor A Shares C000098724 Institutional Shares C000098725 Class K shares 0000893818 S000032775 BLACKROCK LIFEPATH INDEX RETIREMENT PORTFOLIO C000101134 Investor A C000101135 Institutional Shares C000101136 Class K Shares 0000893818 S000032776 BLACKROCK LIFEPATH INDEX 2020 PORTFOLIO C000101137 Investor A C000101138 Institutional Shares C000101139 Class K Shares 0000893818 S000032777 BLACKROCK LIFEPATH INDEX 2025 PORTFOLIO C000101140 Investor A C000101141 Institutional Shares C000101142 Class K Shares 0000893818 S000032778 BLACKROCK LIFEPATH INDEX 2030 PORTFOLIO C000101143 Investor A C000101144 Institutional Shares C000101145 Class K Shares 0000893818 S000032779 BLACKROCK LIFEPATH INDEX 2035 PORTFOLIO C000101146 Investor A C000101147 Institutional Shares C000101148 Class K Shares 0000893818 S000032780 BLACKROCK LIFEPATH INDEX 2040 PORTFOLIO C000101149 Investor A C000101150 Institutional Shares C000101151 Class K Shares 0000893818 S000032781 BLACKROCK LIFEPATH INDEX 2045 PORTFOLIO C000101152 Investor A C000101153 Institutional Shares C000101154 Class K Shares 0000893818 S000032782 BLACKROCK LIFEPATH INDEX 2050 PORTFOLIO C000101155 Investor A C000101156 Institutional Shares C000101157 Class K Shares 0000893818 S000032783 BLACKROCK LIFEPATH INDEX 2055 PORTFOLIO C000101158 Investor A C000101159 Institutional Shares C000101160 Class K Shares 0000893818 S000033188 BlackRock ACWI ex-US Index Fund C000102140 Investor A Shares C000102141 Institutional Shares C000102142 Class K shares 0000918848 S000002541 BlackRock Mid Cap Value Opportunities Fund C000006998 Investor A C000006999 Investor B C000007000 Investor C C000007001 Institutional C000007002 Class R 0000922457 S000002724 BLACKROCK GLOBAL SMALLCAP FUND, INC. C000007429 Investor A C000007430 Investor B C000007431 Investor C C000007432 Institutional C000007433 Class R 0001026144 S000003116 BlackRock International Index Fund C000008447 Investor A C000008448 Institutional C000099168 Class K 0001026144 S000003118 BlackRock Small Cap Index Fund C000008451 Investor A C000008452 Institutional C000099169 Class K 0001062806 S000002290 BlackRock Small Cap Growth Fund II C000005976 Investor A C000005977 Investor B C000005978 Investor C C000005979 Institutional C000005980 Class R 0001062806 S000002291 BlackRock International Fund C000005981 Investor A C000005982 Investor B C000005983 Investor C C000005984 Institutional C000101856 Class R Shares 0001097077 S000001973 BlackRock Large Cap Core Fund C000005171 Investor A C000005172 Investor B C000005173 Investor C C000005174 Institutional C000005175 Class R C000052209 Service 0001097077 S000001974 BlackRock Large Cap Growth Fund C000005176 Investor A C000005177 Investor B C000005178 Investor C C000005179 Institutional C000005180 Class R C000037858 Service 0001097077 S000001975 BlackRock Large Cap Value Fund C000005181 Investor A C000005182 Investor B C000005183 Investor C C000005184 Institutional C000005185 Class R C000037859 Service 0001097077 S000018499 BlackRock Large Cap Core Plus Fund C000051319 Investor A C000051320 Investor C C000051321 Institutional 0001097077 S000018858 BlackRock Large Cap Growth Retirement Portfolio C000052206 Class K 0001097077 S000018859 BlackRock Large Cap Value Retirement Portfolio C000052207 Class K 0001097077 S000018860 BlackRock Large Cap Core Retirement Portfolio C000052208 Class K 0001097293 S000002344 BLACKROCK FOCUS GROWTH FUND, INC. C000006151 Investor A C000006153 Investor C C000006154 Institutional 0001186231 S000002951 BBIF MONEY FUND C000008078 Class 1 C000008079 Class 2 C000008080 Class 3 C000008081 Class 4 0001186233 S000002954 BBIF GOVERNMENT SECURITIES FUND C000008084 Class 1 C000008085 Class 2 C000008086 Class 3 C000008087 Class 4 0001186235 S000002960 BBIF TAX EXEMPT FUND C000008096 Class 1 C000008097 Class 2 C000008098 Class 3 C000008099 Class 4 0001186237 S000002957 BBIF TREASURY FUND C000008090 Class 1 C000008091 Class 2 C000008092 Class 3 C000008093 Class 4 0001221845 S000001469 BATS SERIES C C000003891 BATS SERIES C BRACX 0001221845 S000001470 BATS SERIES M C000003892 BATS SERIES M BRAMX 0001221845 S000001471 BATS SERIES S C000003893 BATS SERIES S BRASX 0001221845 S000011985 BATS SERIES P C000032703 BATS SERIES P BATPX 0001221845 S000046220 BATS SERIES E C000144517 BATS SERIES E BATEX 0001221845 S000047014 BATS SERIES A C000146955 BATS SERIES A 0001321652 S000002993 MFS Research International FDP Fund C000008226 Investor A C000008228 Investor C C000008229 Institutional 0001321652 S000002994 Marsico Growth FDP Fund C000008230 Investor A C000008232 Investor C C000008233 Institutional 0001321652 S000002995 Invesco Value FDP Fund C000008234 Investor A C000008236 Investor C C000008237 Institutional 0001321652 S000002996 Franklin Templeton Total Return FDP Fund C000008238 Investor A C000008240 Investor C C000008241 Institutional 0001323737 S000002988 BlackRock U.S.Mortgage Portfolio C000008217 Institutional Shares C000094139 Investor A Shares C000094140 Investor C Shares 0001323737 S000002990 Global SmallCap Portfolio C000008219 Global SmallCap Portfolio 0001323737 S000002991 Mid Cap Value Opportunities C000008220 Mid Cap Value Opportunities Portfolio 0001324285 S000002718 BlackRock Long-Horizon Equity Fund C000007412 Investor A C000007413 Investor B C000007414 Investor C C000007415 Institutional C000047292 Class R 0001398078 S000018351 BLACKROCK AGGRESSIVE GROWTH PREPARED PORTFOLIO C000050684 INSTITUTIONAL SHARES C000050685 INVESTOR A SHARES C000050686 INVESTOR C SHARES C000050687 R SHARES 0001398078 S000018352 BLACKROCK INFLATION PROTECTED BOND PORTFOLIO C000050688 BLACKROCK SHARES C000050689 INSTITUTIONAL SHARES C000050690 INVESTOR A SHARES C000050691 INVESTOR B SHARES C000050692 INVESTOR C SHARES C000050693 R SHARES C000050694 SERVICE SHARES 0001398078 S000018354 BLACKROCK U.S.GOVERNMENT BOND PORTFOLIO C000050702 INSTITUTIONAL SHARES C000050703 INVESTOR A SHARES C000050704 INVESTOR B SHARES C000050705 INVESTOR C SHARES C000050706 R SHARES C000050707 SERVICE SHARES C000100231 BlackRock Shares C000100232 Investor B1 C000100233 Investor C1 0001398078 S000018357 BLACKROCK INVESTMENT GRADE BOND PORTFOLIO C000050720 BLACKROCK SHARES C000050721 INSTITUTIONAL SHARES C000050722 INVESTOR A SHARES C000050723 R SHARES 0001398078 S000018358 BLACKROCK LOW DURATION BOND PORTFOLIO C000050724 R SHARES C000050725 SERVICE SHARES C000050726 A1 SHARES C000050727 B1 SHARES C000050728 B2 SHARES C000050729 BLACKROCK SHARES C000050730 C1 SHARES C000050731 C2 SHARES C000050732 INSTITUTIONAL SHARES C000050733 INVESTOR A SHARES C000050734 INVESTOR B SHARES C000050735 INVESTOR C SHARES C000100234 Investor B3 C000100235 Investor C3 0001398078 S000018360 BLACKROCK MODERATE PREPARED PORTFOLIO C000050742 INSTITUTIONAL SHARES C000050743 INVESTOR A SHARES C000050744 INVESTOR C SHARES C000050745 R SHARES 0001398078 S000018364 BLACKROCK LIFEPATH ACTIVE RETIREMENT FUND C000050760 K SHARES C000050761 INVESTOR A C000050762 R SHARES C000120980 INSTITUTIONAL SHARES 0001398078 S000018365 BLACKROCK LIFEPATH ACTIVE 2020 FUND C000050763 INVESTOR A SHARES C000050764 K SHARES C000050765 R SHARES C000120981 INSTITUTIONAL SHARES 0001398078 S000018366 BLACKROCK LIFEPATH ACTIVE 2025 FUND C000050766 K SHARES C000050767 INVESTOR A SHARES C000050768 R SHARES C000120982 INSTITUTIONAL SHARES 0001398078 S000018367 BLACKROCK LIFEPATH ACTIVE 2030 FUND C000050769 K SHARES C000050770 INVESTOR A SHARES C000050771 R SHARES C000120983 INSTITUTIONAL SHARES 0001398078 S000018368 BLACKROCK LIFEPATH ACTIVE 2035 FUND C000050772 K SHARES C000050773 INVESTOR A SHARES C000050774 R SHARES C000120984 INSTITUTIONAL SHARES 0001398078 S000018369 BLACKROCK LIFEPATH ACTIVE 2040 FUND C000050775 K SHARES C000050776 INVESTOR A SHARES C000050777 R SHARES C000120985 INSTITUTIONAL SHARES 0001398078 S000018370 BLACKROCK LIFEPATH ACTIVE 2045 FUND C000050778 K SHARES C000050779 INVESTOR A SHARES C000050780 R SHARES C000120986 INSTITUTIONAL SHARES 0001398078 S000018371 BLACKROCK LIFEPATH ACTIVE 2050 FUND C000050781 K SHARES C000050782 INVESTOR A SHARES C000050783 R SHARES C000120987 INSTITUTIONAL SHARES 0001398078 S000018373 BLACKROCK CONSERVATIVE PREPARED PORTFOLIO C000050785 INSTITUTIONAL SHARES C000050786 INVESTOR A SHARES C000050787 INVESTOR C SHARES C000050788 R SHARES 0001398078 S000018375 BLACKROCK CORE BOND PORTFOLIO C000050796 BLACKROCK SHARES C000050797 INSTITUTIONAL SHARES C000050798 INVESTOR A SHARES C000050799 INVESTOR B SHARES C000050800 INVESTOR C SHARES C000050801 R SHARES C000050802 SERVICE SHARES 0001398078 S000018378 BLACKROCK GNMA PORTFOLIO C000050813 BLACKROCK SHARES C000050814 INSTITUTIONAL SHARES C000050815 INVESTOR A SHARES C000050816 INVESTOR B SHARES C000050817 INVESTOR C SHARES C000050818 R SHARES C000050819 SERVICE SHARES 0001398078 S000018380 BLACKROCK GROWTH PREPARED PORTFOLIO C000050829 INSTITUTIONAL SHARES C000050830 INVESTOR A SHARES C000050831 INVESTOR C SHARES C000050832 R SHARES 0001398078 S000018381 BLACKROCK HIGH YIELD BOND PORTFOLIO C000050833 B1 SHARES C000050834 BLACKROCK SHARES C000050835 C1 SHARES C000050836 INSTITUTIONAL SHARES C000050837 INVESTOR A SHARES C000050838 INVESTOR B SHARES C000050839 INVESTOR C SHARES C000050840 R SHARES C000050841 SERVICE SHARES 0001398078 S000020790 BLACKROCK EMERGING MARKETS FLEXIBLE DYNAMIC BOND PORTFOLIO C000058053 BLACKROCK SHARES C000058054 INSTITUTIONAL SHARES C000058055 INVESTOR A SHARES C000058056 INVESTOR C SHARES 0001398078 S000020791 BLACKROCK GLOBAL DIVIDEND PORTFOLIO C000058057 INSTITUTIONAL SHARES C000058058 INVESTOR A SHARES C000058059 INVESTOR C SHARES 0001398078 S000020792 BLACKROCK MULTI-ASSET INCOME PORTFOLIO C000058060 INVESTOR C SHARES C000058061 INSTITUTIONAL SHARES C000058062 INVESTOR A SHARES 0001398078 S000020793 BLACKROCK STRATEGIC INCOME OPPORTUNITIES PORTFOLIO C000058063 INSTITUTIONAL SHARES C000058064 INVESTOR A SHARES C000058065 INVESTOR C SHARES 0001398078 S000027975 BlackRock Secured Credit Portfolio C000085039 Investor A C000085040 Investor C C000085041 Institutional 0001398078 S000029307 BlackRock Floating Rate Income Portfolio C000090125 Investor A Shares C000090126 Investor C Shares C000090127 Institutional Shares C000093814 Investor C1 Shares 0001398078 S000039928 BLACKROCK LIFEPATH ACTIVE 2055 FUND C000123829 Investor A Shares C000123830 Institutional Shares C000123831 Class R Shares C000123832 Class K Shares 0001398078 S000047012 BlackRock Dynamic High Income Portfolio C000146951 Investor A C000146952 Investor C C000146953 Institutional 0001582739 S000042594 BlackRock CoRI 2015 Fund C000131711 Institutional Shares C000131712 Investor A Shares 0001582739 S000042595 BlackRock CoRI 2017 Fund C000131713 Institutional Shares C000131714 Investor A Shares 0001582739 S000042596 BlackRock CoRI 2019 Fund C000131715 Institutional Shares C000131716 Investor A Shares 0001582739 S000042597 BlackRock CoRI 2021 Fund C000131717 Institutional Shares C000131718 Investor A Shares 0001582739 S000042598 BlackRock CoRI 2023 Fund C000131719 Investor A Shares C000131720 Institutional Shares 497 1 e63545_497.htm SUPPLEMENT

BIF Government Securities Fund

BIF Money Fund

BIF Tax-Exempt Fund

BIF Treasury Fund

 

BIF Multi-State Municipal Series Trust

     BIF California Municipal Money Fund

     BIF Connecticut Municipal Money Fund

     BIF Massachusetts Municipal Money Fund

     BIF New Jersey Municipal Money Fund

     BIF New York Municipal Money Fund

     BIF Ohio Municipal Money Fund

 

BBIF Government Securities Fund

BBIF Money Fund

BBIF Tax-Exempt Fund

BBIF Treasury Fund

 

BlackRock Allocation Target Shares
     BATS: Series A Portfolio

     BATS: Series C Portfolio

     BATS: Series E Portfolio
     BATS: Series M Portfolio
     BATS: Series P Portfolio
     BATS: Series S Portfolio

 

BlackRock Balanced Capital Fund, Inc.

 

BlackRock Basic Value Fund, Inc.

 

BlackRock Bond Fund, Inc.
     BlackRock Total Return Fund

 

BlackRock California Municipal Series Trust
     BlackRock California Municipal Opportunities Fund

 

BlackRock Capital Appreciation Fund, Inc.

BlackRock CoRI Funds

     BlackRock CoRI 2015 Fund

     BlackRock CoRI 2017 Fund

     BlackRock CoRI 2019 Fund

     BlackRock CoRI 2021 Fund

     BlackRock CoRI 2023 Fund

 

BlackRock Emerging Markets Fund, Inc.
     
BlackRock Equity Dividend Fund
     
BlackRock EuroFund

 

BlackRock Financial Institutions Series Trust

     BlackRock Summit Cash Reserves Fund

 

BlackRock Focus Growth Fund, Inc.

BlackRock FundsSM
     BlackRock All-Cap Energy & Resources Portfolio
     BlackRock Commodity Strategies Fund

     BlackRock Disciplined Small Cap Core Fund

     BlackRock Emerging Market Allocation Portfolio
     BlackRock Emerging Markets Dividend Fund

     BlackRock Emerging Markets Long/Short Equity Fund
     BlackRock Energy & Resources Portfolio

     BlackRock Exchange Portfolio
     BlackRock Flexible Equity Fund
     BlackRock Global Long/Short Credit Fund
     BlackRock Global Long/Short Equity Fund

     BlackRock Global Opportunities Portfolio
     BlackRock Health Sciences Opportunities Portfolio

     BlackRock International Opportunities Portfolio
     BlackRock Macro Themes Fund

     BlackRock Managed Volatility Portfolio
     BlackRock Mid-Cap Growth Equity Portfolio
     BlackRock Money Market Portfolio

     BlackRock Multi-Asset Real Return Fund

     BlackRock Multi-Manager Alternative Strategies Fund
     BlackRock Municipal Money Market Portfolio

     BlackRock New Jersey Municipal Money Market Portfolio

     BlackRock North Carolina Municipal Money Market Portfolio

     BlackRock Ohio Municipal Money Market Portfolio

     BlackRock Pennsylvania Municipal Money Market Portfolio
     BlackRock Real Estate Securities Fund
     BlackRock Science & Technology Opportunities Portfolio
     BlackRock Short Obligations Fund
     BlackRock Short-Term Treasury Fund
     BlackRock Small Cap Growth Equity Portfolio

     BlackRock Strategic Risk Allocation Fund

     BlackRock Ultra-Short Obligations Fund

     BlackRock U.S. Opportunities Portfolio

     BlackRock U.S. Treasury Money Market Portfolio

     BlackRock Virginia Municipal Money Market Portfolio

 

BlackRock Funds II
     BlackRock Aggressive Growth Prepared Portfolio
     BlackRock Conservative Prepared Portfolio
     BlackRock Core Bond Portfolio

     BlackRock Dynamic High Income Portfolio

     BlackRock Emerging Markets Flexible Dynamic Bond Portfolio
     BlackRock Floating Rate Income Portfolio
     BlackRock Global Dividend Portfolio
     BlackRock GNMA Portfolio
     BlackRock Growth Prepared Portfolio
     BlackRock High Yield Bond Portfolio
     BlackRock Inflation Protected Bond Portfolio

     BlackRock Investment Grade Bond Portfolio

     BlackRock LifePath® Active Retirement Fund

     BlackRock LifePath® Active 2020 Fund
     BlackRock LifePath® Active 2025 Fund



 
 

     BlackRock LifePath® Active 2030 Fund
     BlackRock LifePath® Active 2035 Fund
     BlackRock LifePath® Active 2040 Fund
     BlackRock LifePath® Active 2045 Fund
     BlackRock LifePath® Active 2050 Fund
     BlackRock LifePath® Active 2055 Fund

     BlackRock Low Duration Bond Portfolio
     BlackRock Moderate Prepared Portfolio

     BlackRock Multi-Asset Income Portfolio

     BlackRock Secured Credit Portfolio     

     BlackRock Strategic Income Opportunities Portfolio
     BlackRock U.S. Government Bond Portfolio

 

BlackRock Funds III
     BlackRock ACWI ex-U.S. Index Fund
     BlackRock Bond Index Fund
     BlackRock CoreAlpha Bond Fund

     BlackRock LifePath® Retirement Fund

     BlackRock LifePath® 2020 Fund

     BlackRock LifePath® 2025 Fund
     BlackRock LifePath® 2030 Fund

     BlackRock LifePath® 2035 Fund
     BlackRock LifePath® 2040 Fund

     BlackRock LifePath® 2045 Fund
     BlackRock LifePath® 2050 Fund
     BlackRock LifePath® 2055 Fund
     BlackRock LifePath® Index Retirement Fund
     BlackRock LifePath® Index 2020 Fund
     BlackRock LifePath® Index 2025 Fund
     BlackRock LifePath® Index 2030 Fund
     BlackRock LifePath® Index 2035 Fund
     BlackRock LifePath® Index 2040 Fund
     BlackRock LifePath® Index 2045 Fund

     BlackRock LifePath® Index 2050 Fund

     BlackRock LifePath® Index 2055 Fund

     BlackRock Russell 1000® Index Fund
     BlackRock S&P 500 Stock Fund

 

BlackRock Global Allocation Fund, Inc.

BlackRock Global SmallCap Fund, Inc.

 

BlackRock Index Funds, Inc.
     BlackRock International Index Fund
     BlackRock Small Cap Index Fund


BlackRock Large Cap Series Funds, Inc.
     BlackRock Large Cap Core Fund
     BlackRock Large Cap Core Plus Fund

     BlackRock Large Cap Growth Fund

     BlackRock Large Cap Value Fund
     BlackRock Large Cap Growth Retirement Portfolio
     BlackRock Large Cap Value Retirement Portfolio
     BlackRock Large Cap Core Retirement Portfolio

BlackRock Latin America Fund, Inc.

BlackRock Long-Horizon Equity Fund

 

BlackRock Mid Cap Value Opportunities Series, Inc.
     BlackRock Mid Cap Value Opportunities Fund

 

BlackRock Multi-State Municipal Series Trust
     BlackRock New Jersey Municipal Bond Fund

     BlackRock New York Municipal Opportunities Fund
     BlackRock Pennsylvania Municipal Bond Fund

 

BlackRock Municipal Bond Fund, Inc.
     BlackRock High Yield Municipal Fund
     BlackRock National Municipal Fund
     BlackRock Short-Term Municipal Fund

 

BlackRock Municipal Series Trust

     BlackRock Strategic Municipal Opportunities Fund

 

BlackRock Natural Resources Trust

 

BlackRock Pacific Fund, Inc.

 

BlackRock Series Fund, Inc.

     BlackRock Balanced Capital Portfolio

     BlackRock Capital Appreciation Portfolio

     BlackRock Global Allocation Portfolio

     BlackRock High Yield Portfolio

     BlackRock Large Cap Core Portfolio

     BlackRock Money Market Portfolio

     BlackRock Total Return Portfolio

     BlackRock U.S. Government Bond Portfolio

 

BlackRock Series, Inc.
     BlackRock International Fund

     BlackRock Small Cap Growth Fund II
 
BlackRock Value Opportunities Fund, Inc.

 

BlackRock Variable Series Funds, Inc.

     BlackRock Basic Value V.I. Fund

     BlackRock Capital Appreciation V.I. Fund

     BlackRock Equity Dividend V.I. Fund

     BlackRock Global Allocation V.I. Fund

     BlackRock Global Opportunities V.I. Fund

     BlackRock High Yield V.I. Fund

     BlackRock International V.I. Fund
     BlackRock iShares® Alternative Strategies V.I. Fund

     BlackRock iShares® Dynamic Allocation V.I. Fund

     BlackRock iShares® Dynamic Fixed Income V.I. Fund

     BlackRock iShares® Equity Appreciation V.I. Fund

     BlackRock Large Cap Core V.I. Fund

     BlackRock Large Cap Growth V.I. Fund

     BlackRock Large Cap Value V.I. Fund

     BlackRock Managed Volatility V.I. Fund

     BlackRock Money Market V.I. Fund



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     BlackRock S&P 500 Index V.I. Fund

     BlackRock Total Return V.I. Fund

     BlackRock U.S. Government Bond V.I. Fund

     BlackRock Value Opportunities V.I. Fund

 

BlackRock World Income Fund, Inc.

FDP Series, Inc.

     Franklin Templeton Total Return FDP Fund
     Invesco Value FDP Fund
     Marsico Growth FDP Fund
     MFS Research International FDP Fund

Managed Account Series
     BlackRock U.S. Mortgage Portfolio

     Global SmallCap Portfolio

     Mid Cap Value Opportunities Portfolio

 

Ready Assets Prime Money Fund

 

Ready Assets U.S. Treasury Money Fund

 

Ready Assets U.S.A. Government Money Fund

 

Retirement Series Trust

     Retirement Reserves Money Fund



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

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

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

The subsection entitled “Potential Conflicts of Interest” in Part II of each Fund’s current Statement of Additional Information is deleted in its entirety and replaced with the following:

Potential Conflicts of Interest

The PNC Financial Services Group, Inc. (“PNC”) has a significant economic interest in BlackRock, Inc., the parent of BlackRock Advisors, LLC, the Funds’ investment adviser. PNC is considered to be an affiliate of BlackRock, Inc., under the Investment Company Act. Certain activities of BlackRock Advisors, LLC, BlackRock, Inc. and their affiliates (collectively, “BlackRock”) and PNC and its affiliates (collectively, “PNC” and together with BlackRock, “Affiliates”), with respect to the Funds and/or other accounts managed by BlackRock or PNC, may give rise to actual or perceived conflicts of interest such as those described below.

BlackRock is one of the world’s largest asset management firms. PNC is a diversified financial services organization spanning the retail, business and corporate markets. BlackRock, PNC and their respective affiliates (including, for these purposes, their directors, partners, trustees, managing members, officers and employees), including the entities and personnel who may be involved in the investment activities and business operations of a Fund, are engaged worldwide in businesses, including equity, fixed-income, cash management and alternative investments, and have interests other than that of managing the Funds. These are considerations of which investors in a Fund should be aware, and which may cause conflicts of interest that could disadvantage the Fund and its shareholders. These activities and interests include potential multiple advisory, transactional, financial and other interests in securities and other instruments, and companies that may be purchased or sold by a Fund.

BlackRock and its Affiliates have proprietary interests in, and may manage or advise with respect to, accounts or funds (including separate accounts and other funds and collective investment vehicles) that have investment objectives similar to those of a Fund and/or that engage in transactions in the same types of securities, currencies and instruments as the Fund. One or more Affiliates are also major participants in the global currency, equities, swap and fixed-income markets, in each case both on a proprietary basis and for the accounts of customers. As such, one or more Affiliates are or may be actively engaged in transactions in the same securities, currencies, and instruments in which a Fund invests. Such activities could affect the prices and availability of the securities, currencies, and instruments in which a Fund invests, which could have an adverse impact on the Fund’s performance. Such transactions, particularly in respect of most proprietary accounts or customer accounts, will be executed independently of a Fund’s transactions and thus at prices or rates that may be more or less favorable than those obtained by the Fund.

When BlackRock and its Affiliates seek to purchase or sell the same assets for their managed accounts, including a Fund, the assets actually purchased or sold may be allocated among the accounts on a basis determined in their good faith discretion to be equitable. In some cases, this system may adversely affect the size or price of the assets purchased or sold for a Fund. In addition, transactions in investments by one or more other accounts managed by

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BlackRock or its Affiliates may have the effect of diluting or otherwise disadvantaging the values, prices or investment strategies of a Fund, particularly, but not limited to, with respect to small capitalization, emerging market or less liquid strategies. This may occur when investment decisions regarding a Fund are based on research or other information that is also used to support decisions for other accounts. When BlackRock or its Affiliates implements a portfolio decision or strategy on behalf of another account ahead of, or contemporaneously with, similar decisions or strategies for a Fund, market impact, liquidity constraints, or other factors could result in the Fund receiving less favorable trading results and the costs of implementing such decisions or strategies could be increased or the Fund could otherwise be disadvantaged. BlackRock or its Affiliates may, in certain cases, elect to implement internal policies and procedures designed to limit such consequences, which may cause a Fund to be unable to engage in certain activities, including purchasing or disposing of securities, when it might otherwise be desirable for it to do so.

Conflicts may also arise because portfolio decisions regarding a Fund may benefit other accounts managed by BlackRock or its Affiliates. For example, the sale of a long position or establishment of a short position by a Fund may impair the price of the same security sold short by (and therefore benefit) one or more Affiliates or their other accounts, and the purchase of a security or covering of a short position in a security by a Fund may increase the price of the same security held by (and therefore benefit) one or more Affiliates or their other accounts.

BlackRock and its Affiliates and their clients may pursue or enforce rights with respect to an issuer in which a Fund has invested, and those activities may have an adverse effect on the Fund. As a result, prices, availability, liquidity and terms of the Fund’s investments may be negatively impacted by the activities of BlackRock or its Affiliates or their clients, and transactions for the Fund may be impaired or effected at prices or terms that may be less favorable than would otherwise have been the case.

The results of a Fund’s investment activities may differ significantly from the results achieved by BlackRock and its Affiliates for their proprietary accounts or other accounts (including investment companies or collective investment vehicles) managed or advised by them. It is possible that one or more Affiliate-managed accounts and such other accounts will achieve investment results that are substantially more or less favorable than the results achieved by a Fund. Moreover, it is possible that a Fund will sustain losses during periods in which one or more Affiliates or Affiliate-managed accounts achieve significant profits on their trading for proprietary or other accounts. The opposite result is also possible. The investment activities of one or more Affiliates for their proprietary accounts and accounts under their management may also limit the investment opportunities for a Fund in certain emerging and other markets in which limitations are imposed upon the amount of investment, in the aggregate or in individual issuers, by affiliated foreign investors.

From time to time, a Fund’s activities may also be restricted because of regulatory restrictions applicable to one or more Affiliates, and/or their internal policies designed to comply with such restrictions. As a result, there may be periods, for example, when BlackRock, and/or one or more Affiliates, will not initiate or recommend certain types of transactions in certain securities or instruments with respect to which BlackRock and/or one or more Affiliates are performing services or when position limits have been reached.

In connection with its management of a Fund, BlackRock may have access to certain fundamental analysis and proprietary technical models developed by one or more Affiliates. BlackRock will not be under any obligation, however, to effect transactions on behalf of a Fund in accordance with such analysis and models. In addition, neither BlackRock nor any of its Affiliates will have any obligation to make available any information regarding their proprietary activities or strategies, or the activities or strategies used for other accounts managed by them, for the benefit of the management of a Fund and it is not anticipated that BlackRock will have access to such information for the purpose of managing the Fund. The proprietary activities or portfolio strategies of BlackRock and its Affiliates, or the activities or strategies used for accounts managed by them or other customer accounts could conflict with the transactions and strategies employed by BlackRock in managing a Fund.

In addition, certain principals and certain employees of BlackRock are also principals or employees of BlackRock or another Affiliate. As a result, the performance by these principals and employees of their obligations to such other entities may be a consideration of which investors in a Fund should be aware.

BlackRock may enter into transactions and invest in securities, instruments and currencies on behalf of a Fund in which customers of BlackRock or its Affiliates, or, to the extent permitted by the Commission, BlackRock or

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another Affiliate, serves as the counterparty, principal or issuer. In such cases, such party’s interests in the transaction will be adverse to the interests of the Fund, and such party may have no incentive to assure that the Fund obtains the best possible prices or terms in connection with the transactions. In addition, the purchase, holding and sale of such investments by a Fund may enhance the profitability of BlackRock or its Affiliates. One or more Affiliates may also create, write or issue derivatives for their customers, the underlying securities, currencies or instruments of which may be those in which a Fund invests or which may be based on the performance of the Fund. A Fund may, subject to applicable law, purchase investments that are the subject of an underwriting or other distribution by one or more Affiliates and may also enter into transactions with other clients of an Affiliate where such other clients have interests adverse to those of the Fund.

At times, these activities may cause departments of BlackRock or its Affiliates to give advice to clients that may cause these clients to take actions adverse to the interests of the Fund. To the extent affiliated transactions are permitted, a Fund will deal with BlackRock and its Affiliates on an arms-length basis. BlackRock or its Affiliates may also have an ownership interest in certain trading or information systems used by a Fund. A Fund’s use of such trading or information systems may enhance the profitability of BlackRock and its Affiliates.

One or more Affiliates may act as broker, dealer, agent, lender or adviser or in other commercial capacities for a Fund. It is anticipated that the commissions, mark-ups, mark-downs, financial advisory fees, underwriting and placement fees, sales fees, financing and commitment fees, brokerage fees, other fees, compensation or profits, rates, terms and conditions charged by an Affiliate will be in its view commercially reasonable, although each Affiliate, including its sales personnel, will have an interest in obtaining fees and other amounts that are favorable to the Affiliate and such sales personnel.

Subject to applicable law, the Affiliates (and their personnel and other distributors) will be entitled to retain fees and other amounts that they receive in connection with their service to the Funds as broker, dealer, agent, lender, adviser or in other commercial capacities and no accounting to the Funds or their shareholders will be required, and no fees or other compensation payable by the Funds or their shareholders will be reduced by reason of receipt by an Affiliate of any such fees or other amounts.

When an Affiliate acts as broker, dealer, agent, adviser or in other commercial capacities in relation to the Funds, the Affiliate may take commercial steps in its own interests, which may have an adverse effect on the Funds. A Fund will be required to establish business relationships with its counterparties based on the Fund’s own credit standing. Neither BlackRock nor any of the Affiliates will have any obligation to allow their credit to be used in connection with a Fund’s establishment of its business relationships, nor is it expected that the Fund’s counterparties will rely on the credit of BlackRock or any of the Affiliates in evaluating the Fund’s creditworthiness.

Purchases and sales of securities for a Fund may be bunched or aggregated with orders for other BlackRock client accounts. BlackRock and its Affiliates, however, are not required to bunch or aggregate orders if portfolio management decisions for different accounts are made separately, or if they determine that bunching or aggregating is not practicable, required or with cases involving client direction.

Prevailing trading activity frequently may make impossible the receipt of the same price or execution on the entire volume of securities purchased or sold. When this occurs, the various prices may be averaged, and the Funds will be charged or credited with the average price. Thus, the effect of the aggregation may operate on some occasions to the disadvantage of the Funds. In addition, under certain circumstances, the Funds will not be charged the same commission or commission equivalent rates in connection with a bunched or aggregated order.

BlackRock may select brokers (including, without limitation, Affiliates) that furnish BlackRock, the Funds, other BlackRock client accounts or other Affiliates or personnel, directly or through correspondent relationships, with research or other appropriate services which provide, in BlackRock’s view, appropriate assistance to BlackRock in the investment decision-making process (including with respect to futures, fixed-price offerings and over-the-counter transactions). Such research or other services may include, to the extent permitted by law, research reports on companies, industries and securities; economic and financial data; financial publications; proxy analysis; trade industry seminars; computer data bases; research-oriented software and other services and products. Research or other services obtained in this manner may be used in servicing any or all of the Funds and other BlackRock client accounts, including in connection with BlackRock client accounts other than those that pay commissions to

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the broker relating to the research or other service arrangements. Such products and services may disproportionately benefit other BlackRock client accounts relative to the Funds based on the amount of brokerage commissions paid by the Funds and such other BlackRock client accounts. For example, research or other services that are paid for through one client’s commissions may not be used in managing that client’s account. In addition, other BlackRock client accounts may receive the benefit, including disproportionate benefits, of economies of scale or price discounts in connection with products and services that may be provided to the Funds and to such other BlackRock client accounts. To the extent that BlackRock uses soft dollars, it will not have to pay for those products and services itself.

BlackRock may receive research that is bundled with the trade execution, clearing, and/or settlement services provided by a particular broker-dealer. To the extent that BlackRock receives research on this basis, many of the same conflicts related to traditional soft dollars may exist. For example, the research effectively will be paid by client commissions that also will be used to pay for the execution, clearing, and settlement services provided by the broker-dealer and will not be paid by BlackRock.

BlackRock may endeavor to execute trades through brokers who, pursuant to such arrangements, provide research or other services in order to ensure the continued receipt of research or other services BlackRock believes are useful in its investment decision-making process. BlackRock may from time to time choose not to engage in the above described arrangements to varying degrees. BlackRock may also enter into commission sharing arrangements under which BlackRock may execute transactions through a broker-dealer, including, where permitted, an Affiliate, and request that the broker-dealer allocate a portion of the commissions or commission credits to another firm that provides research to BlackRock. To the extent that BlackRock engages in commission sharing arrangements, many of the same conflicts related to traditional soft dollars may exist.

BlackRock may utilize certain electronic crossing networks (“ECNs”) in executing client securities transactions for certain types of securities. These ECNs may charge fees for their services, including access fees and transaction fees. The transaction fees, which are similar to commissions or markups/markdowns, will generally be charged to clients and, like commissions and markups/markdowns, would generally be included in the cost of the securities purchased. Access fees may be paid by BlackRock even though incurred in connection with executing transactions on behalf of clients, including the Funds. In certain circumstances, ECNs may offer volume discounts that will reduce the access fees typically paid by BlackRock. This would have the effect of reducing the access fees paid by BlackRock. BlackRock will only utilize ECNs consistent with its obligation to seek to obtain best execution in client transactions.

BlackRock has adopted policies and procedures designed to prevent conflicts of interest from influencing proxy voting decisions that it makes on behalf of advisory clients, including the Funds, and to help ensure that such decisions are made in accordance with BlackRock’s fiduciary obligations to its clients. Nevertheless, notwithstanding such proxy voting policies and procedures, actual proxy voting decisions of BlackRock may have the effect of favoring the interests of other clients or businesses of other divisions or units of BlackRock and/or its Affiliates, provided that BlackRock believes such voting decisions to be in accordance with its fiduciary obligations. For a more detailed discussion of these policies and procedures, see “Proxy Voting Policies and Procedures.”

It is also possible that, from time to time, BlackRock or its Affiliates may, although they are not required to, purchase and hold shares of a Fund. Increasing a Fund’s assets may enhance investment flexibility and diversification and may contribute to economies of scale that tend to reduce the Fund’s expense ratio. BlackRock and its Affiliates reserve the right to redeem at any time some or all of the shares of a Fund acquired for their own accounts. A large redemption of shares of a Fund by BlackRock or its Affiliates could significantly reduce the asset size of the Fund, which might have an adverse effect on the Fund’s investment flexibility, portfolio diversification and expense ratio. BlackRock will consider the effect of redemptions on a Fund and other shareholders in deciding whether to redeem its shares.

It is possible that a Fund may invest in securities of companies with which an Affiliate has or is trying to develop investment banking relationships as well as securities of entities in which BlackRock or its Affiliates has significant debt or equity investments or in which an Affiliate makes a market. A Fund also may invest in securities of companies to which an Affiliate provides or may some day provide research coverage. Such investments could cause conflicts between the interests of a Fund and the interests of other clients of BlackRock

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or its Affiliates. In making investment decisions for a Fund, BlackRock is not permitted to obtain or use material non-public information acquired by any division, department or Affiliate of BlackRock in the course of these activities. In addition, from time to time, the activities of an Affiliate may limit a Fund’s flexibility in purchases and sales of securities. When an Affiliate is engaged in an underwriting or other distribution of securities of an entity, BlackRock may be prohibited from purchasing or recommending the purchase of certain securities of that entity for a Fund. As indicated below, BlackRock or its Affiliates may engage in transactions with companies in which BlackRock-advised funds or other clients have an investment.

BlackRock and Ace Limited (“ACE”), a public company whose securities are held by BlackRock-advised funds and other accounts, partially funded the creation of a re-insurance company (“Re Co”) pursuant to which each has approximately a 9.9% ownership interest and each has representation on the board of directors. Certain employees and executives of BlackRock will also have a less than 1/2 of 1% ownership interest in Re Co. BlackRock will manage the investment portfolio of Re Co, which will be held in a wholly-owned subsidiary. Re Co will participate as a reinsurer with reinsurance contracts underwritten by subsidiaries of ACE. An independent director of certain BlackRock-advised funds also serves as an independent director of ACE and has no interest or involvement in the Re Co transaction.

BlackRock and its Affiliates, their personnel and other financial service providers have interests in promoting sales of the Funds. With respect to BlackRock and its Affiliates and their personnel, the remuneration and profitability relating to services to and sales of the Funds or other products may be greater than remuneration and profitability relating to services to and sales of certain funds or other products that might be provided or offered. BlackRock and its Affiliates and their sales personnel may directly or indirectly receive a portion of the fees and commissions charged to the Funds or their shareholders. BlackRock and its advisory or other personnel may also benefit from increased amounts of assets under management. Fees and commissions may also be higher than for other products or services, and the remuneration and profitability to BlackRock or its Affiliates and such personnel resulting from transactions on behalf of or management of the Funds may be greater than the remuneration and profitability resulting from other funds or products.

BlackRock and its Affiliates and their personnel may receive greater compensation or greater profit in connection with an account for which BlackRock serves as an adviser than with an account advised by an unaffiliated investment adviser. Differentials in compensation may be related to the fact that BlackRock may pay a portion of its advisory fee to its Affiliate, or relate to compensation arrangements, including for portfolio management, brokerage transactions or account servicing. Any differential in compensation may create a financial incentive on the part of BlackRock or its Affiliates and their personnel to recommend BlackRock over unaffiliated investment advisers or to effect transactions differently in one account over another.

BlackRock and its Affiliates may provide valuation assistance to certain clients with respect to certain securities or other investments and the valuation recommendations made for their clients’ accounts may differ from the valuations for the same securities or investments assigned by a Fund’s pricing vendors, especially if such valuations are based on broker-dealer quotes or other data sources unavailable to the Fund’s pricing vendors. While BlackRock will generally communicate its valuation information or determinations to a Fund’s pricing vendors and/or fund accountants, there may be instances where the Fund’s pricing vendors or fund accountants assign a different valuation to a security or other investment than the valuation for such security or investment determined or recommended by BlackRock.

As disclosed in more detail in “Pricing of Shares – Determination of Net Asset Value” in this SAI, when market quotations are not readily available or are believed by BlackRock to be unreliable, a Fund’s investments may be valued at fair value by BlackRock, pursuant to procedures adopted by the Funds’ Board of Directors. When determining an asset’s “fair value,” BlackRock seeks to determine the price that a Fund might reasonably expect to receive from the current sale of that asset in an arm’s-length transaction. The price generally may not be determined based on what a Fund might reasonably expect to receive for selling an asset at a later time or if it holds the asset to maturity. While fair value determinations will be based upon all available factors that BlackRock deems relevant at the time of the determination, and may be based on analytical values determined by BlackRock using proprietary or third party valuation models, fair value represents only a good faith approximation of the value of a security. The fair value of one or more securities may not, in retrospect, be the price at which those assets could have been sold during the period in which the particular fair values were used in determining a Fund’s net asset value. As a result, a Fund’s sale or redemption of its shares at net asset value, at a time when a

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holding or holdings are valued by BlackRock (pursuant to Board-adopted procedures) at fair value, may have the effect of diluting or increasing the economic interest of existing shareholders.

To the extent permitted by applicable law, a Fund may invest all or some of its short term cash investments in any money market fund or similarly-managed private fund advised or managed by BlackRock. In connection with any such investments, a Fund, to the extent permitted by the Investment Company Act, may pay its share of expenses of a money market fund in which it invests, which may result in a Fund bearing some additional expenses.

BlackRock and its Affiliates and their directors, officers and employees, may buy and sell securities or other investments for their own accounts, and may have conflicts of interest with respect to investments made on behalf of a Fund. As a result of differing trading and investment strategies or constraints, positions may be taken by directors, officers, employees and Affiliates of BlackRock that are the same, different from or made at different times than positions taken for the Fund. To lessen the possibility that a Fund will be adversely affected by this personal trading, the Fund, BRIL and BlackRock each have adopted a Code of Ethics in compliance with Section 17(j) of the Investment Company Act that restricts securities trading in the personal accounts of investment professionals and others who normally come into possession of information regarding the Fund’s portfolio transactions. Each Code of Ethics can be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information about obtaining documents on the Commission’s website may be obtained by calling the Commission at (800) SEC-0330. Each Code of Ethics is also available on the EDGAR Database on the Commission’s Internet site at http://www.sec.gov, and copies may be obtained, after paying a duplicating fee, by e-mail at publicinfo@sec.gov or by writing the Commission’s Public Reference Section, Washington, DC 20549-0102.

BlackRock and its Affiliates will not purchase securities or other property from, or sell securities or other property to, a Fund, except that the Fund may in accordance with rules adopted under the Investment Company Act engage in transactions with accounts that are affiliated with the Fund as a result of common officers, directors, or investment advisers or pursuant to exemptive orders granted to the Funds and/or BlackRock by the Commission. These transactions would be affected in circumstances in which BlackRock determined that it would be appropriate for the Fund to purchase and another client of BlackRock to sell, or the Fund to sell and another client of BlackRock to purchase, the same security or instrument on the same day. From time to time, the activities of a Fund may be restricted because of regulatory requirements applicable to BlackRock or its Affiliates and/or BlackRock’s internal policies designed to comply with, limit the applicability of, or otherwise relate to such requirements. A client not advised by BlackRock would not be subject to some of those considerations. There may be periods when BlackRock may not initiate or recommend certain types of transactions, or may otherwise restrict or limit their advice in certain securities or instruments issued by or related to companies for which an Affiliate is performing investment banking, market making, advisory or other services or has proprietary positions. For example, when an Affiliate is engaged in an underwriting or other distribution of securities of, or advisory services for, a company, the Funds may be prohibited from or limited in purchasing or selling securities of that company. In addition, when BlackRock is engaged to provide advisory or risk management services for a company, BlackRock may be prohibited from or limited in purchasing or selling securities of that company on behalf of a Fund, particularly where such services result in BlackRock obtaining material non-public information about the company. Similar situations could arise if personnel of BlackRock or its Affiliates serve as directors of companies the securities of which the Funds wish to purchase or sell. However, if permitted by applicable law, and where consistent with BlackRock’s policies and procedures (including the necessary implementation of appropriate information barriers), the Funds may purchase securities or instruments that are issued by such companies, are the subject of an underwriting, distribution, or advisory assignment by an Affiliate or are the subject of an advisory or risk management assignment by BlackRock, or where personnel of BlackRock or its Affiliates are directors or officers of the issuer.

In certain circumstances where the Funds invest in securities issued by companies that operate in certain regulated industries, in certain emerging or international markets, or are subject to corporate or regulatory ownership definitions, there may be limits on the aggregate amount invested by Affiliates (including BlackRock) for their proprietary accounts and for client accounts (including the Funds) that may not be exceeded without the grant of a license or other regulatory or corporate consent, or, if exceeded, may cause BlackRock, the Funds or other client accounts to suffer disadvantages or business restrictions. As a result, BlackRock on behalf of its clients (including the Funds) may limit purchases, sell existing investments, or otherwise restrict or limit the exercise of rights

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(including voting rights) when BlackRock, in its sole discretion, deems it appropriate in light of potential regulatory or other restrictions on ownership or other consequences resulting from reaching investment thresholds.

In those circumstances where ownership thresholds or limitations must be observed, BlackRock seeks to allocate limited investment opportunities equitably among clients (including the Funds), taking into consideration benchmark weight and investment strategy. When ownership in certain securities nears an applicable threshold, BlackRock may limit purchases in such securities to the issuer's weighting in the applicable benchmark used by BlackRock to manage the Fund. If client (including Fund) holdings of an issuer exceed an applicable threshold and BlackRock is unable to obtain relief to enable the continued holding of such investments, it may be necessary to sell down these positions to meet the applicable limitations. In these cases, benchmark overweight positions will be sold prior to benchmark positions being reduced to meet applicable limitations.

In addition to the foregoing, other ownership thresholds may trigger reporting requirements to governmental and regulatory authorities, and such reports may entail the disclosure of the identity of a client or BlackRock’s intended strategy with respect to such security or asset.

BlackRock and its Affiliates may maintain securities indices as part of their product offerings. Index based funds seek to track the performance of securities indices and may use the name of the index in the fund name. Index providers, including BlackRock and its Affiliates may be paid licensing fees for use of their index or index name. BlackRock and its Affiliates will not be obligated to license their indices to BlackRock, and BlackRock cannot be assured that the terms of any index licensing agreement with BlackRock and its Affiliates will be as favorable as those terms offered to other index licensees.

BlackRock and its Affiliates may serve as Authorized Participants in the creation and redemption of exchange traded funds, including funds advised by affiliates of BlackRock. BlackRock and its Affiliates may therefore be deemed to be participants in a distribution of such exchange traded funds, which could render them statutory underwriters.

The custody arrangement described in “Management and Other Service Arrangements” may lead to potential conflicts of interest with BlackRock where BlackRock has agreed to waive fees and/or reimburse ordinary operating expenses in order to cap expenses of the Funds. This is because the custody arrangements with the Funds' custodian may have the effect of reducing custody fees when the Funds leave cash balances uninvested. When a Fund’s actual operating expense ratio exceeds a stated cap, a reduction in custody fees reduces the amount of waivers and/or reimbursements BlackRock would be required to make to the Fund. This could be viewed as having the potential to provide BlackRock an incentive to keep high positive cash balances for Funds with expense caps in order to offset fund custody fees that BlackRock might otherwise reimburse. However, BlackRock’s portfolio managers do not intentionally keep uninvested balances high, but rather make investment decisions that they anticipate will be beneficial to fund performance.

Present and future activities of BlackRock and its Affiliates, including BlackRock Advisors, LLC, in addition to those described in this section, may give rise to additional conflicts of interest.

 

Shareholders should retain this Supplement for future reference.

 

SAI-MULTI-0415SUP