497 1 e64942_497.htm SUPPLEMENT a64942.htm - Generated by SEC Publisher for SEC Filing
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 Focus Growth Fund, Inc. 
 
BlackRock FundsSM 
BlackRock All-Cap Energy & Resources Portfolio 
BlackRock Alternative Capital Strategies Fund 
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 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 Midcap Index Fund 
BlackRock Mid-Cap Growth Equity Portfolio 
BlackRock Money Market Portfolio 
BlackRock MSCI Asia ex Japan Index Fund 
BlackRock MSCI World Index Fund 
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 Small Cap Growth Equity Portfolio 
BlackRock Strategic Risk Allocation Fund 
BlackRock U.S. Opportunities Portfolio 
BlackRock U.S. Treasury Money Market Portfolio 
BlackRock Ultra-Short Obligations Fund 
BlackRock Virginia Municipal Money 
Market Portfolio 
 
BlackRock Funds II 
BlackRock 20/80 Target Allocation Fund 
BlackRock 40/60 Target Allocation Fund 
BlackRock 60/40 Target Allocation Fund 
BlackRock 80/20 Target Allocation Fund 
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 High Yield Bond Portfolio 
BlackRock Inflation Protected Bond Portfolio 
BlackRock Investment Grade Bond Portfolio 
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 LifePath® Active Retirement Fund 
BlackRock Low Duration Bond 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 CoreAlpha Bond Fund 
BlackRock Large Cap Index 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 S&P 500 Index Fund 
BlackRock Total International ex U.S. Index Fund 
BlackRock U.S. Total Bond Index Fund 
 
BlackRock Index Funds, Inc. 
BlackRock International Index Fund 
BlackRock Small Cap Index Fund 
 
BlackRock Large Cap Series Funds, Inc. 
BlackRock Event Driven Equity Fund 
BlackRock Large Cap Core Fund 
BlackRock Large Cap Growth Fund 
BlackRock Large Cap Value Fund 
BlackRock Large Cap Value Retirement Portfolio 
 
BlackRock Latin America Fund, Inc. 
 
BlackRock Global Allocation Fund, Inc. 
 
BlackRock Global SmallCap 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, Inc. 
BlackRock International Fund 
BlackRock Small Cap Growth Fund II 
 
BlackRock Value Opportunities Fund, Inc. 
 
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 


 

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

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Supplement dated July 1, 2015 to the
Prospectus of each Fund

Effective on September 1, 2015, each Fund’s Prospectus is amended as follows:

The section entitled “Account Information — Note on Low Balance Accounts” in the current Prospectus is deleted in its entirety and replaced with the following or the following section is added to the section entitled “Account Information” in the current Prospectus, as applicable:

Note on Low Balance Accounts. Because of the high cost of maintaining smaller shareholder accounts, BlackRock has set a minimum balance of $500 in each Fund position you hold within your account (“Fund Minimum”), and may redeem the shares in your account if the net asset value of those shares in your account falls below $500 for any reason, including market fluctuation.

You will be notified that the value of your account is less than the Fund Minimum before the Fund makes any involuntary redemption. This notification will provide you with a 90 calendar day period to make an additional investment in order to bring the value of your account to at least $500 before the Fund makes an involuntary redemption. This involuntary redemption will not charge any deferred sales charge, and may not apply to accounts of certain employer-sponsored retirement plans (not including IRAs), qualified state tuition plan (529 Plan) accounts, and select fee-based programs at your Financial Intermediary.

In the section entitled “Account Information — How to Buy and Sell Shares — How to Sell Shares —Selling shares held directly with BlackRock,” “Account Information — How to Buy, Sell and Transfer Shares — How to Sell Shares — Selling shares held directly with BlackRock” or “Account Information —How to Buy, Sell, Exchange and Transfer Shares — How to Sell Shares — Selling shares held directly with BlackRock,” as applicable, in each Fund’s Prospectus, the following paragraph is added as the second paragraph under “Payment by Check” or, if applicable, the following paragraph is added with the header of “Payment by Check”:

Each Fund reserves the right to reinvest any dividend or distribution amounts (e.g., income dividends or capital gains) which you have elected to receive by check should your check be returned as undeliverable or remain uncashed for more than 6 months. No interest will accrue on amounts represented by uncashed checks. Your check will be reinvested in your account at the net asset value next calculated, on the day of the investment. When reinvested, those amounts are subject to the risk of loss like any Fund investment. If you elect to receive distributions in cash and a check remains undeliverable or uncashed for more than 6 months, your cash election may also be changed automatically to reinvest and your future dividend and capital gains distributions will be reinvested in the Fund at the net asset value as of the date of payment of the distribution.

Shareholders should retain this Supplement for future reference.

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